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Title: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: shenaniganleg on February 25, 2014, 11:10:45 PM It seems like there is only negative information regarding Mt.Gox and how it will "be the end of bitcoins". Now don't get me wrong, i hate Mt. Gox and what they have done is unacceptable but i think it is also important to get another look at how this company will affect Bitcoin and its future. Here is a quote from a post regarding it:
Quote An even bigger problem is the fact that we have lost trust in the Bitcoins, while the ones we shouldn’t be trusting are companies like Mt. Gox, lets not forget that Bitcoin’s concept and technology haven’t failed here, instead it was a Bitcoin exchange platforms which also happened to be the biggest one. The cryptocurrency community should use this opportunity to look back and see how wrong we were doing this and how we should do them from now on. People that trusted in Mt.Gox were trusting essentially a central bank, the whole point of Bitcoins is that there is non. Source: http://www.amongtech.com/why-the-end-of-mt-gox-wont-be-the-end-of-bitcoins/ How do you think Mt. Gox shutdown has affected crypto-currencies in general? How can we prevent this exchange platform to do more damage to the virtual currency economy? Share what you think! Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: InsanityDev on February 25, 2014, 11:16:43 PM they're still worth $500 and gox may as well be gone in the middle of a media shit storm, if they're 500 on the worst day... also many see it as a weak unstable party leaving the community, which makes it stronger and more stable
today is a good day. Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: franky1 on February 25, 2014, 11:20:55 PM this event is just another copy of bitcoinica/pirate@40 all over again.. in the end people will realise that it does not affect bitcoins blockchain. just users.
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: hilariousandco on February 25, 2014, 11:21:48 PM I haven't lost trust or faith in Bitcoins. Gox is just one exchange, and a shoddy one at that. It's not the entire Bitcoin universe. The quicker it goes the quicker Bitcoin can move on.
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: SecondsOld on February 25, 2014, 11:21:54 PM Despite the negative press than bitcoin may receive because of the Gox fiasco, I personally feel the negative impact will be very short lived. A few months from now I think it will all be a distant memory and bitcoin will move forward with a vengeance.
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: hilariousandco on February 25, 2014, 11:24:46 PM Despite the negative press than bitcoin may receive because of the Gox fiasco, I personally feel the negative impact will be very short lived. A few months from now I think it will all be a distant memory and bitcoin will move forward with a vengeance. I could see that happening. Time moves fast in Bitcoinland. I'm sure we'll have some new problems in a few months' time to worry about anyway haha. Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: h3rlihy on February 25, 2014, 11:28:18 PM Only paves the way for other exchanges to learn what not to do.
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: Lauda on February 25, 2014, 11:38:38 PM The price on bitstamp is slowly recovering.
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: HeliKopterBen on February 25, 2014, 11:50:48 PM Bitcoin will grow stronger because of this but this really is the worst travesty in the history of bitcoin. If the 750,000 number is true, that means the owners of 7% of the entire currency produced to date suddenly found out that they no longer owned these coins.
I expect we will see solutions where customers can audit exchanges against the blockchain in real time to force trust. These solutions are already being outlined by the core developers and security experts and will make the system much stronger. Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: Unacceptable on February 26, 2014, 12:06:54 AM they're still worth $500 and gox may as well be gone in the middle of a media shit storm, if they're 500 on the worst day... also many see it as a weak unstable party leaving the community, which makes it stronger and more stable today is a good day. EXACTLY!!!!!!!!! Thank you for having COMMON SENSE!!!!!!!!!!! ;D It's UP from here!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 8) Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: InsanityDev on February 26, 2014, 12:07:06 AM the 750,000 number I've seen that a lot today, where the source of this number, and any proof at all it's even partially real? edit: oh yeah (http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft) Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: waldox on February 26, 2014, 01:08:58 AM bitcoin and crypto currencies will survive
nothing wrong with the bitcoin protocol Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: Winalunt on February 26, 2014, 01:13:30 AM People don trade there anymore thats why
Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: anth0ny on February 26, 2014, 01:13:52 AM I expect we will see solutions where customers can audit exchanges against the blockchain in real time to force trust. These solutions are already being outlined by the core developers and security experts and will make the system much stronger. Beyond audits, there's no need that the exchange has to have access to the BTC in the first place. Split keys. Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: Lauda on February 26, 2014, 09:48:45 PM People don trade there anymore thats why Should have stopped trading 1 year ago. Title: Re: Why the shutdown of Mt. Gox won't kill Bitcoins Post by: dailycoins on February 26, 2014, 09:58:58 PM It was only matter of time when some exchange service does something like this. I'm happy that Gox is gone and that we have now learn our lesson. Mt.Gox doesn't have long term impact on Bitcoin and I'm sure that price will go up a lot in the next 2 years.
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