Bitcoin Forum

Just wondering, I'm kinda stuck between sticking with Mtgox, or going with Tradehill. Bitcoin7 is meh.

I will be using "Top 2" for sure, and if I get enough spare cash this weekend, I will buy into some coin from possibly a third.

I know nothing of Bitcoin7, but why is it I have bad taste in my mouth if I say their name?  They definitely get shit a lot on the forums, what is the reasoning for that, and have they done anything to rectify their bad name?

MtGox still first??
Interesting

When they first opened, they had a lot of spelling errors and copied+pasted stuff from other sites. One thing they copied and pasted even still had the sites name in it.

All is fixed now, but thats very sketchy, like trying to throw something together fast.

I thought I read something about that happening (but actually thought it was TradeHill on that one).  I can forgive that based on having to start sites quickly before and having to grab quick filler type text.   However the spelling errors, while stupid, seems like a bigger mistake than the stealing of filler text.   

There is a strong argument that Bitcoin7 are only tech people who know the back end side to how this should work, or would work, and therefore wouldn't know how to properly make sure the front end, visuals of the site are clean for the general user, and so copied and pasted of course.

Just what I was thinking could be a possibility when I first read this, I just didn't realize it was Bitcoin7.

I need to keep a better eye on them, if they are honest, I wish them well.

Well people also were claiming Tradehill stole Mtgox layout, which is hardly true. Mtgox hardly has a layout to begin with, any website builder tool will have a "default" layout where you fill in blanks with text and/or images. I believe this is the case here.

hmm more votes.. looks like tradehill may become the next #1 exchange

You forgot Ebay, which is the one I will be using..

I just got interested in Bitcoin recently, and opened a Mt. Gox account, but hadn't done anything with it because I was still figuring out how to secure my bitcoin wallet and stash before I started actually acquring bitcoins.  I'm glad now that I did. <wry grin>

I expect to start acquiring bitcoins soon by selling some stuff on a Bitcoin auction site.  I may hold off for a few months before I try to convert any to dollars or euros; my real interest in Bitcoin is to use it as an alternate currency for buying and selling, not to speculate on currency shifts.  (No interest in channeling George Soros here.)  When I do, I hope that there will be more choices, and that Mt. Gox and the other existing sites will have either cleaned up their miserably inadequate security practices or gone out of business. 

Thats the whole point buddy, bitcoin is not for playing HYIP with the markets, its for revolutionizing the Internet as we know it. You have the right idea, and for that you will only have more Bitcoins at the end of all this.

going to tradehill isnt going to solve anything unless they are actvally fixing there security issues as well

i'll stick with mtgox cause i know they will come out of this much stronger and more secure then before

I agree with you on this, the new MTGOX will be a truly tested, and vetted system. Confidence will only grow higher when they come back.

I'm using Mtgox and not Lag Hill.

I'm on the fence about Mt. Gox.  So far, I haven't been that impressed with their handling of this debacle, but I also haven't seen anything that makes me think that they're significantly worse than the other exchanges. :/  However, they might not survive this.  They *shouldn't* survive this unless they significantly improve their infrastructure and improve their policies to make them truly "financial grade".  And we shouldn't stick our heads in the sand and refuse to consider the possibility that they might not learn enough from this occurrence to rebuild their site properly.  We should expect them to do so, verify their claims, and hold them to their promises before we invest significant time and funds there.

As far as Bitcoin itself goes, however, the troubles at Mt. Gox are just a bump in the road.  Hackers have seriously stepped up attacks on banks, financial institutions, and web sites that deal with or handle lots of other people's money.  They hit Citibank.  They hit the Federal Reserve.  If this attack was the same sort of thing, then some cyber criminals think that Bitcoins are worth stealing.  Surprise -- NOT.  Maybe people involved in using and trading in Bitcoins will start to take both security and Bitcoin itself more seriously now.

Well, I guess I'll see what happens with Gox. My confidence is sort of shaky in all exchanges right now.  :P

I miss the option: "Bitcoin is dead - none"

i've heard some reasonable things about BritCoin.  i'll be investigating them.

i have no dog in the mtgox fight - i'm perfectly prepared to accept that they can come out of their troubles stronger and more effective.  or not.

at the moment i have some coinage on tradehill, but haven't actually entered into any transactions.  i'm in Bitcoin for the long term - and in it as a currency.  i'll just be waiting and watching.

why are you so surprised? mtgox has obviously built a good reputation in this community, and just because they hit a bump in the road does not mean they are not to be trusted. and in fact, i bet they will be stronger than ever!

Same here. We can say bye bye to the nice vibe around bitcoin.

Instead of a long sad goodbye I'm saying "bye for now. see you again soon."

By the way, I'm loving the Gox's new logo (as seen on their claim page), it's rightly awesome.

https://claim.mtgox.com/img/mtgox.png

I chose both Mt Gox and Trade Hill for the poll; I'll continue using both.

Hi mods, see this yet?

Awesome.

I guess people can get away with claiming retardation if they don't single out any particular member.

Although it did come straight after my post about Mt Gox, thanks a lot!

No offence taken...

The devil you know is better than the devil you don't. At this point, and partly due to this debacle, I know a hell of a lot more about Mt. Gox and how it handles issues than I know about tradehill. But I'll use both, because using just one exchange is not smart either, right?

By the way, it's often easier to guess what logical, smart people are going to do in a market as opposed to a herd of easily-spooked "retards". You know, game theory and rational behavior and all that crap. :)

Many people have used BitcoinExchange and other non realtime exchanges. You should put that option in the poll too.

What do I need an exchange for? I do work, people pay me in bitcoin. I want something, I pay in bitcoin. Where do external currencies come into it?

(Also, you missed off some exchanges, like that cash to bitcoin or cash for bitcoin or whatever it's called site.)

Converting non-Bitcoin users to users takes physical currency sometimes.

I actually find the poll to be kinda premature.

For Mt.Gox, I have more questions than answers. And this could be a bad thing -- apparently many people think that Mark's just stalling for time while he prepares to escape with our money. (And I'll guess half of those people just want to drive the market down so they can buy more coins cheap...) It could also mean that right now they're trying to worry more about fixing things and moving forward than about what is said in the forums.

TradeHill is just too new and hasn't made much disclosure. Sure, they did an interview which I watched, where they talked about how they will have better security than Mt.Gox did. That's not actually saying much. And it isn't a third-party security audit either. So all we really actually have to judge them on the grounds of code stability and security ... is them saying it's so. And while a self serving statement like that can actually easily BE the truth, it's harder to accept as such.

And, yeah, I'm sorta kicking the puck down the road in not coming to a conclusion. Why? Because I wasn't in a rush to sell my coins. I do want to sell a handful of them because my roommate needs a new computer and I'm tired of fixing the piece of crap he has now... but I don't actually have to go sell mine right away, and even if I did sell some I wouldn't be selling them all. I have time to sit back and wait for more info before I decide who I should distrust less.

Yeah, distrust less. Because there is a lot of validity to the point that a lot of the people who are upset with Mt.Gox were as vulnerable as they were because of foolish practices on their own end. People who had their coins stolen from other sites because they used trivial passwords, and the same password everywhere, come to mind. This DOESN'T give Mt.Gox a pass -- far from it. Everyone who's upset that Mt.Gox was part of the attack vector has every right to be, even when they were the vector too.

No business deserves your absolute, complete, 100%, undisputed trust. Ever. Even if they're ethical and technically competent. Why? Because shit happens, sooner or later. Mt.Gox and TradeHill could both go get security audits, and both could pass, and that doesn't mean they're truly secure. Sooner or later a bug shows up in Apache. Or in SSL. Or in the Linux/BSD/Solaris/whatever kernel. Or someone hires a corrupt employee. Or an honest employee gets stupid. Or your best friend steals your password...

It's fair to expect businesses to be competent, and to take your dollars and bitcoins elsewhere when they screw up. It's prudent to expect them to screw up and limit what harm could befall you as a result.

poll has to do with NOW not later

Maybe it's because they walk and talk like a scam. Tradehill has been much more professional in their communication and behaviour so far. Mt. Gox seems amateur hour, but has experience points now (insert equivalent MTG pun).