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nazgulnarsil
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June 16, 2011, 11:26:03 PM
 #21

If I were MtGox proprietor I would fake a price spike, sell all 400k coins for whatever I could actually get for them and retire.

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meighty
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June 16, 2011, 11:27:10 PM
 #22

If I were MtGox proprietor I would fake a price spike, sell all 400k coins for whatever I could actually get for them and retire.


432k at around 30usd per coin is almost $1.3mil. Not bad

EDIT: 13mil Smiley
nazgulnarsil
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June 16, 2011, 11:27:56 PM
 #23

you mean 12 million.  Wink

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June 16, 2011, 11:28:41 PM
 #24

you mean 12 million.  Wink

lol yup. Smiley
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June 17, 2011, 12:10:51 PM
 #25

what if the mtgox owner steals the money himself and claims it to be stolen by some unknown hackers? we could not distinguish, which of the two stories did happen, could we?
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June 17, 2011, 12:18:02 PM
 #26

what if the mtgox owner steals the money himself and claims it to be stolen by some unknown hackers? we could not distinguish, which of the two stories did happen, could we?

It would destroy peoples confidence in bitcoins and the market price would plummet so effectively be worthless. Besides, he's is already making a truck load off transaction fees.

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June 17, 2011, 12:35:16 PM
 #27

what if the mtgox owner steals the money himself and claims it to be stolen by some unknown hackers? we could not distinguish, which of the two stories did happen, could we?

It would destroy peoples confidence in bitcoins and the market price would plummet so effectively be worthless. Besides, he's is already making a truck load off transaction fees.

and yet the sheeple still continue to pile all their money into one exchange. i swear it is going to be our own stupidity and love for huddling together in one spot that kills this project. hopefully by the time the next decentralized currency comes out people will have evolved enough to realize why one exchange with 90% of the currency is RETARDED!! haha, maybe our collective subconscious knows decentralized currency is for some reason fundamentally unwise and so we are sabotaging ourselves.. cmon people, do whats smart, not necessarily what everyone else is doing. if bitcoin teaches you nothing else, please let it be this - DECENTRALIZE! lol, i don't even know why i try anymore...
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June 17, 2011, 02:54:01 PM
 #28

what if the mtgox owner steals the money himself and claims it to be stolen by some unknown hackers? we could not distinguish, which of the two stories did happen, could we?

It would destroy peoples confidence in bitcoins and the market price would plummet so effectively be worthless. Besides, he's is already making a truck load off transaction fees.

and yet the sheeple still continue to pile all their money into one exchange. i swear it is going to be our own stupidity and love for huddling together in one spot that kills this project. hopefully by the time the next decentralized currency comes out people will have evolved enough to realize why one exchange with 90% of the currency is RETARDED!! haha, maybe our collective subconscious knows decentralized currency is for some reason fundamentally unwise and so we are sabotaging ourselves.. cmon people, do whats smart, not necessarily what everyone else is doing. if bitcoin teaches you nothing else, please let it be this - DECENTRALIZE! lol, i don't even know why i try anymore...


I understand where you are coming from, but people have a tendency to "follow the herd." It also has to do with the fact that mtgox was the first major bitcoin exchange and has built for itself a good reputation, and it is this reputation that ensures a constant inflow of new clients. Good for them I say! But I do hope that some of the other smaller exchanges prove their trustworthiness and that eventually we'd have some reasonable market share distribution.  Worry not when there is money to be made new entrepreneurs will step on the scene and attempt to take a bit out of mtgox's pie.


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