Bitcoin Forum

I have noticed that after this whole mtgox would prefer calling them 'empty cocks'  >:(  mess there are new trading/exchanges websites popping up on everyday basis. Iam an active member of this forum and have noticed in the past few days almost 2-5 new exchanges/trading websites coming up everyday. I guess there is no point of wasting your money on domain guys cuz after gox incident people are more finicky and scared to throw a single penny on this newcomers. But the point is if gox being the most trustworthy can do such 'robbery' i would say, then i guess its pretty impossible to trust any trading/exchange site in the market.It's true exchanges the cancer for bitcoins.

Its true, who can be trusted in the Bitcoin world?

Its ironic that Bitcoin is based on being able to trade with people you don't need to trust yet to get Bitcoin you need to trust someone unless you mine. However you cant trust the mining hardware manufacturers.

For BTC to really useful to 'Joe public' there has to be a trusted familiar way to obtain BTC. I hate to say this but I think being able to get BTC from your local bank would work! :(

Who ?

Me of course.

Send you BTC this way !

So what do you propose, exactly? Ban all exchanges? Force every bitcoiner to put all of their coins in permanent cold storage? How will that help widespread Bitcoin adoption? How will that facilitate trade? How will that help the price go "to the moon"? Wasn't Bitcoin supposed to be "the money of the internet"?

How safe is cold storage anyway, seeing as Gox managed to lose 850k BTC that way?

Don't risk it, and stay with Bitstamp.

trust the next generation of exchanges would be a first good step (like circle or coinbase).

about gox we still don't know IF there even was a 'cold storage'..

Until when?

In two years time we could all be saying we've been bitstamped or taken up the kraken. You can't trust any of them. They are no better than the banks. Every time you send your $ to an exchange or your BTC you take a risk.

Yes maybe the code is better, but how do we know the people operating them are honest? We don't.

Forget about cold storage, how about a line of code that read "if owed_bitcoins > total_bitcoins then goto proc shut_it_down"...

Yes, what was described was not a 'cold storage'

one day this may happen to bitstamp to..

So does mass adoption require high street banks and post offices to get involved? People trust banks ... Maybe not a lot but probably more than current exchanges.

One thing that works is close to what Coinbase does - don't keep the money, deposit it into the customer's bank account daily.
We need exchanges you only trust for a few hours. Every day, the exchange should move all your funds to a real bank account, and send all your Bitcoins to your wallet.

Holy shit nearly fell for that

well air conditioned room rofl

..... And yet it continues http://flexcoin.com