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Author Topic: Reality Check - Mt.Gox is doing their "best" -Insanity's Stance on screwing  (Read 875 times)
InsanityIsGreat
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June 22, 2011, 12:29:08 AM
 #1

To start off i will tell a joke:

What happened when Moses went to Mt. Olive???

Answer: Popeye beat the living sh** out of him

This whole issue regarding Mt. Gox and kevin and Bitcoins and communism and the air speed velocity of an unladen swallow can be summed up by this simple chain of events.

Mt. Gox creates exchange > People willfully sign up for exchange > People trade and make money > Hacker cracks password and starts selling bitcoins for the lolz > Kevin sees amazing bargain and begins buying like a mad rabbit. > Mt. Gox notices their poor security finally > Mt. Gox closes exchange and says they will be rolling back exchanges.

"Mt. Gox notices their poor security finally"

Everyone who traded there took the risk and invested and got screwed except a handful.

* Kevin got screwed for thinking Mt. Gox would let him keep the bitcoins he rightfully purchased.
* Mt. Gox screwed everyone with their poor security and screwed kevin again with a roll back
* Everyone who put money in Mt. Gox got screwed because of their poor security.
* I got screwed because they cancelled firefly on the sci-fi channel.
* The hacker had fun screwing everyone

Getting screwed is a risk you take when you take risks. In this case using Mt.Gox was a risk for everyone. In the end whoever had their account hacked took a risk and kevin took a risk. In the end its the market and risks are taken sometimes you get out ahead sometimes not. I think Kevin should be allowed to keep his coins he bought but that was a risk he also took thinking Mt. Gox would just act as an ex-changer and not as a policeman for their poor a** security. (You should keep my 643 cows though kevin <3).

Whether people choose to take that risk again once MtGox comes back up is up to them as it always was.

Finish the joke

What happened when (insert noun here) went to Mt. Gox

Your answer:



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Vince Torres
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June 22, 2011, 12:31:49 AM
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They apparently were compromised because of a routine "audit". Yeah we should be pissed and we should complain.

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June 22, 2011, 12:32:21 AM
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Personally I think everyone has a right to get screwed. Even if they don't want to.
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June 22, 2011, 12:44:16 AM
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But that is rape...
InsanityIsGreat
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June 22, 2011, 12:46:06 AM
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June 22, 2011, 01:06:26 AM
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But that is rape...

And that is Kevin's right.
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