Great Day for Bitcoin. Cryptsy finally admitted theft and Mike Hearn rage quits

[iCEBREAKER]

This is a great day for Bitcoin.

Hearn@gnome.zurich.ch has with typical self-aggrandizement surrendered unconditionally to the Knights of Satoshi, leaving the Gavinista insurgency demoralized and rudderless.

A parasitic shitcoin exchange will no longer operate fraudulently on an undisclosed fractional reserve, teaching noobs about the risk of being too greedy and gullible.

Fee markets continue to mature, as Bitcoin's pay-for-priority model ignores the drama and reliably records properly funded transactions.

Planned upgrades to Honey Badger proceed apace, as Core's Wizards develop miracles such as Lightning, SegWit, Sidechains, Confidential Transactions, RBF, CLTV, etc.

The Winklevoss ETF is one day closer to approval, while Bitcoins are shaken free from forlorn faint-hearted Gavinista fail-forkers' feeble fingers.

The Bitcoin Core community continues thriving under the light touch of Thermos's moderation and administration, while the Gavinistas splinter into increasingly esoteric personality-driven cliques.

Paper money continues to burn, as Chinese and other markets are in free-fall despite the best efforts of Hearn's beloved BIS coordinated and funded Plunge Protection Teams.

I'm happy as a daisy!

[kelsey]

popcorn sales spiked at the very least 

[mayax]

it will be a show !  

millions lost by Cryptsy. the BTC price is going down +Mike Hearn ex Bitcoin developer story...a true story.


" Bitcoin has no future whilst it’s controlled by fewer than 10 people" VERY TRUE!

[Lauda]

You've certainly created a nice thread. I'm actually happy to see both go although it is unfortunate for the people that got affected by the Cryptsy scenario. I'm also afraid that this might not be the last time that we've heard from Hearn (he might make more of these bold statements).

" Bitcoin has no future whilst it’s controlled by fewer than 10 people"

Luckily it is not controlled by fewer than 10 people.

millions lost by Cryptsy

Less than $10m.

[Paashaas]

Google didn't give a shit when Mike left.

Bitcoin also didn't give a shit when he left the building, only sheeps running like headless chickens.

The price dropped with $30 bucks due of Cryptsy hack, i've seen worse than this..np.

Thx for cheaper coins and it's just ''business as usual'', let's move on.

[Amph]

Less than $10m.

not even 6M actually, they were 13K coins, at 450 you do the math

bitstamp faced the same fate 5M lost but the price recovered after that, dunno why this time will be different

[BellaBitBit]

And so the coin wars begin . . .  get ready for a ride in 2016

[LFC_Bitcoin]

Great OP.

iCEBREAKER you're becoming one of my favourite posters here. I somehow doubt this is the last we hear from Mike Hearn though.

[xdrpx]

Haha I really love how positive you are about both of them happening at the same time. With all the negativity around about Mike Hearn and Cryptsy a little cheer is always fun.

[pedrog]

Less than $10m.

not even 6M actually, they were 13K coins, at 450 you do the math

bitstamp faced the same fate 5M lost but the price recovered after that, dunno why this time will be different

July 2014 bitcoin as around 630 USD and litecoin was around 9 USD, so at that time values it makes this a theft of almost 11 million USD.

[Denker]

Oh man I can not describe my inner feelings in words, so happy I am that weirdo Hearn has finally officially broke with Bitcoin.
That guy, at least imo, had been a trojan horse hired by the incumbents since quite a while.
Regarding Cryptsy it was just a matter of time, we all knew that.
So yes this had been indeed good news. One shady character and one shady exchange less in space.

[Amph]

Less than $10m.

not even 6M actually, they were 13K coins, at 450 you do the math

bitstamp faced the same fate 5M lost but the price recovered after that, dunno why this time will be different

July 2014 bitcoin as around 630 USD and litecoin was around 9 USD, so at that time values it makes this a theft of almost 11 million USD.

i thought that too, but why coindesk say only 5M? http://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange/

"Bitstamp lost 18,866 BTC from its hot wallet, worth approximately $5,263,614 at a time when the price of bitcoin averaged $279."

[pedrog]

Less than $10m.

not even 6M actually, they were 13K coins, at 450 you do the math

bitstamp faced the same fate 5M lost but the price recovered after that, dunno why this time will be different

July 2014 bitcoin as around 630 USD and litecoin was around 9 USD, so at that time values it makes this a theft of almost 11 million USD.

i thought that too, but why coindesk say only 5M? http://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange/

"Bitstamp lost 18,866 BTC from its hot wallet, worth approximately $5,263,614 at a time when the price of bitcoin averaged $279."

Oh, sorry, I thought you were referring to Cryptsy theft.

[thejaytiesto]

I lost some money in Cryptsy, I had some altcoins... I don't really care, it wasn't that much money, it was so little that I was too lazy to open a ticket for my stuck withdrawals. Fuck them, they have been such a pain in the ass for months now, so many people complaining on the chat and getting banned because they wanted their money back.

Edit: Actually they have cancelled my withdrawal, now the BTC is back on my Cryptsy account. Are they planning to give us our money back, or are they going to close the site while we have the money sitting there?

[LiteCoinGuy]

I lost some money in Cryptsy, I had some altcoins... I don't really care, it wasn't that much money, it was so little that I was too lazy to open a ticket for my stuck withdrawals. Fuck them, they have been such a pain in the ass for months now, so many people complaining on the chat and getting banned because they wanted their money back.

Edit: Actually they have cancelled my withdrawal, now the BTC is back on my Cryptsy account. Are they planning to give us our money back, or are they going to close the site while we have the money sitting there?

  ...

[thejaytiesto]

I lost some money in Cryptsy, I had some altcoins... I don't really care, it wasn't that much money, it was so little that I was too lazy to open a ticket for my stuck withdrawals. Fuck them, they have been such a pain in the ass for months now, so many people complaining on the chat and getting banned because they wanted their money back.

Edit: Actually they have cancelled my withdrawal, now the BTC is back on my Cryptsy account. Are they planning to give us our money back, or are they going to close the site while we have the money sitting there?

  ...

Yeah, why do I even ask right? lol. But seeing the BTC pop up on my wallet instead of being on the limbo of an unfinished withdraw request gave me some hope. I guess it's the final fuck you, like "hey, HERE'S how much money you are going to lose exactly, thought luck!" Then they close the site.
Glad it's not even 50 dollars.. still really annoying.

[teddy5145]

Google didn't give a shit when Mike left.

Bitcoin also didn't give a shit when he left the building, only sheeps running like headless chickens.

The price dropped with $30 bucks due of Cryptsy hack, i've seen worse than this..np.

Thx for cheaper coins and it's just ''business as usual'', let's move on.

Do you mean $40 ?

And i gotta agree with you, i've seen worse when BTC dropped from $1200
So this is not gonna affect me at all
I gotta say thank you for cryptsy who gave me a chance for a cheaper coins
Price should be back to usual by Monday

[OgNasty]

" Bitcoin has no future whilst it’s controlled by fewer than 10 people"

Yet, he rage quit because he couldn't be completely in control by himself.  Ironic.

[lemmyK]

Where's the Money, Lebowski?

[Yakamoto]

Well which happened first, the cryptsy hack or the announcement by Mike H.?

Because it is entirely possible no-one cares about Mike and they're just selling because of the exchange hack (that is less of an issue than Mt. Gox) and Mike wants to feel like he did something by seeing the market go down. I completely looks like he wants to feel special, and his opinion has no impact on the Bitcoin economy.