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Author Topic: 650,000 Bitcoins got lost from Blockchain ?  (Read 512 times)
First77 (OP)
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February 03, 2018, 12:52:04 PM
 #1

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
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February 03, 2018, 12:53:52 PM
 #2

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
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February 03, 2018, 01:22:27 PM
 #3

Yes the Mt. Gox were not lost but stolen ad previous poster pointed out, if you look deep the web for tracking tools, you can see where they went, and are now. NEM was exchange fault too. There are of course many dust and forgotten about accounts and wallets, this is where the real loss is - I saw some time agon a transaction with 100 BTC as the fee, and 0.001 as the transaction - oops - the miners did well that day. It is scary to see how many BTC and ALTs are lost, never to be redeemed again.. It is also a great lesson to us all to hold what is dear true.
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February 03, 2018, 01:33:04 PM
 #4

Ripple offers some protection against theft because real people are behind it instead of a hidden development team
who main task was to keep miners rich and now they have developed the lightning network so the
miners can run banks "Off-Block"

You can all keep the argument that Ripple is ran by bankers given these conditions we find ourselves in
today and Ripple fees are next to nothing so for these reasons I would recommend XRP to anyone that just wants
to learn how to use digital wallets.

Good job Bitcoins are not linked to much real money and is fire walled using fake USDT that is the
only new demand we are seeing in this casino because it's fake money and is not backed by real $USD
and is the king-pin that will bring the house of cards crashing down.

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
First77 (OP)
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February 03, 2018, 01:34:40 PM
 #5

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.

They did not call the POLICE   Huh
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February 03, 2018, 01:35:46 PM
 #6

Who can really put their faith in the Bitcoins now this is happening.  And not a word said about it anywhere.  Things will have to change.  Unless this is fake information.  But no way of telling whether it is or it isn't/ 
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February 03, 2018, 01:37:36 PM
 #7

Well they were not lost but they were stolen.
There is an estimation of 1.6 - 1.8 million Bitcoin that is truly lost forever because the wallet owner forgot about their wallet and deleted it or the hard drive that contains the wallet is damaged.

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February 03, 2018, 01:51:51 PM
 #8

Hardwork would have taken place had it not been for this story with the exchange of Coincheck $ 534 million were stolen due to a failure of NEM blockchain. But since this issue is caused by gaps in the security system of Coincheck, a failure of the team NEM was fair.
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February 03, 2018, 01:58:36 PM
 #9

that is not related to Blockchain it is for exchanges. but now and now and in futeur this industry has very much risks.

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February 03, 2018, 02:05:22 PM
 #10

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??

We are in the early stages of the cryptocurrency technology so it is like the Wild West in some ways. Many exchanges are at risk of thefts and hacks and the exchanges themselves can steal our money with little recourse and very little chance of us getting our money back. This is especially true since these exchanges are international and mostly unregulated. It’s up to us to make sure we secure our investments.
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February 03, 2018, 02:09:31 PM
 #11

how can they lost bitcoins without giving private keys this is nt real and this is another fud article created by RT
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February 03, 2018, 02:15:34 PM
 #12

Well they were not lost but they were stolen.
There is an estimation of 1.6 - 1.8 million Bitcoin that is truly lost forever because the wallet owner forgot about their wallet and deleted it or the hard drive that contains the wallet is damaged.
Forgotten or lost wallets will be a problem as long as people won't care about their bitcoins equal to their real life money. I know you can't put your hard dirve into a safe box (but a backup hard drive can be put into it). Also, people have to learn how to deal with bitcoin. Dealing with fiat money is really simple, you learn it from your parents, or from other people, but you can't learn to deal with bitcoin from the family and you don't learn it in the school. Those lost bitcoins were lost when the technology was really new and people didn't care about them much, because it had much less value. If the bitcoin price was $1,000 or more that time people would care about their bitcoins much more.
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February 03, 2018, 02:27:21 PM
 #13

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

650,000 Bitcoins got lost from Blockchain ??
Let us analyze the situation,who gave you the idea that bitcoin is lost from the blockchain,they were hacked in the first place and these happens when you take customers for granted and the mystery of Mt.Gox will always be a mystery as you will never know whether it was an inside job or not,most of their dealings were shady prior to the said hack,when it comes to coincheck hack,there are more doubts than answers,they did not put multi signature security which is again a fault from the exchange,in conclusion always store your coins in your own wallet where you own the private key and not in exchanges.
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February 03, 2018, 02:45:58 PM
 #14

Yes the Mt. Gox were not lost but stolen ad previous poster pointed out, if you look deep the web for tracking tools, you can see where they went, and are now. NEM was exchange fault too. There are of course many dust and forgotten about accounts and wallets, this is where the real loss is - I saw some time agon a transaction with 100 BTC as the fee, and 0.001 as the transaction - oops - the miners did well that day. It is scary to see how many BTC and ALTs are lost, never to be redeemed again.. It is also a great lesson to us all to hold.                         



       So, we must be careful of securing our  wallet and bitcoin if not we have lost them forever. . Don’t give your  username or passwords for every site asking to it. Coz you do not know if they keep tracking with your account. If they will track you, they will be the one using  it , and  they will steal all the  fruit of your hardship on bitcoin. So do not trust your account to anybody for they might hacked you  and you can not open anymore your wallet .
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First77 (OP)
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February 03, 2018, 03:28:20 PM
 #15

Let us analyze the situation,who gave you the idea that bitcoin is lost from the blockchain,they were hacked in the first place and these happens when you take customers for granted and the mystery of Mt.Gox will always be a mystery as you will never know whether it was an inside job or not,most of their dealings were shady prior to the said hack,when it comes to coincheck hack,there are more doubts than answers,they did not put multi signature security which is again a fault from the exchange,in conclusion always store your coins in your own wallet where you own the private key and not in exchanges.

Bitcoin is all about blockchain. I think blockchain talks about Secure transactions against hackers etc..
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February 03, 2018, 03:41:23 PM
 #16

I think blockchain talks about Secure transactions against hackers etc..

Do you even read and acknowlegde what people say? FORGET about the blockchain. An exchange or whatever other service losing coins due to theft or data loss, is only the result of how incompetent or shady the service or exchange in question is. People are the ones messing up not Bitcoin, but that apparently isn't something the empty headed mainstream media sources understand. If you don't wish to be a victim of the aforementioned scenarios where coin loss occurs, then avoid making use of centralized services, it's that simple. If you allow whatever entity to 'take care' of your coins, you'll be operating completely at that entity's mercy. You're a slave just like how people are a slave of the banks controlling their wealth.
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February 03, 2018, 03:44:20 PM
 #17

Do you even read and acknowlegde what people say? FORGET about the blockchain.

Did you read that post ??
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February 03, 2018, 03:46:48 PM
 #18

Fortunately fiat currency is never stolen.
First77 (OP)
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February 03, 2018, 03:50:56 PM
 #19

An exchange or whatever other service losing coins due to theft or data loss, is only the result of how incompetent or shady the service or exchange in question is. People are the ones messing up not Bitcoin, but that apparently isn't something the empty headed mainstream media sources understand. If you don't wish to be a victim of the aforementioned scenarios where coin loss occurs, then avoid making use of centralized services, it's that simple. If you allow whatever entity to 'take care' of your coins, you'll be operating completely at that entity's mercy. You're a slave just like how people are a slave of the banks controlling their wealth.

The RT.com article title is "3 doomsday scenarios for bitcoin". Read there..
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February 03, 2018, 04:02:08 PM
 #20

how can they lost bitcoins without giving private keys this is nt real and this is another fud article created by RT
Mt.Gox is exchanger, they dont need private key to stolen bitcoin from customers..so the scheme is like this, Mt.Gox owned private key>>costumer deposited to the address that owned by Mt.Gox>>customer want to exchange their bitcoin to fiat money via Mt.Gox, but unfortunely Mt.Gox dissapeared and steal customer assets...
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February 03, 2018, 10:28:50 PM
 #21

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.

They did not call the POLICE   Huh
If it was in fact a hack then the police needs to get involved since it is one of the greatest thefts ever however they cannot get back those coins the same way they can do with money from banks accounts and it is not as easy to track the people that committed this crime, also this is not like jewelry that is marked and makes it more difficult to sell if it is stolen, so it is going to be very difficult to get that money back.

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February 03, 2018, 10:30:17 PM
 #22

Not to mention those who mined bitcoin at the very beginning and who lost everything!
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February 03, 2018, 10:33:20 PM
 #23

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.

100% agree if the blockchain lacks the require tight security all coins with the same algos should have been hacked long ago this kind of news only happens once in a blue moon or rare, so it is better for us to look for a better exchange that guarantees security to their network, even banks get robbed.

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February 03, 2018, 10:34:11 PM
 #24

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
First of all why do you bring this old article we all know what happened on Mt. Gox exchange if you know what really happened i suggest read it on coindesk not on RT and also you are wrong that 650k bitcoins lost on the blockchain they are still on circulation although it is still on possession of the hacker but that is not lost. The lost coins happens when someone forgots the password of bitcoin wallet or wallet.dat which not recoverable by any means.
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February 03, 2018, 11:39:10 PM
 #25

There is a difference between lost and stolen (it may be the same for the one who lost his Bitcoins but the impacton the market is not the same).
Lost Bitcoins will make BTTC pice rise because the circulating volume will be reduced while stolen Bitcoins will not affect the market because it will be used and sold by someone else.

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February 13, 2018, 10:03:11 AM
 #26

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
The bad news is for bitcoin and the crypto market. Again I advise you not to believe too much on these rumors. They will affect your mood in investing in the altcoins.
Although that fact is true, that error rarely happens. And another cause is theft. After the incident, I think the staff had to work hard to create a better protection system. Always think positive if you want to get rich.

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February 13, 2018, 10:06:54 AM
 #27

If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.

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February 15, 2018, 10:58:14 AM
 #28

If those bitcoins would have been lost that would mean that we could find them somewhere. They were stolen. Smart guy who stole those bitcoins

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February 15, 2018, 11:05:27 AM
 #29

Who can really put their faith in the Bitcoins now this is happening.  And not a word said about it anywhere.  Things will have to change.  Unless this is fake information.  But no way of telling whether it is or it isn't/ 

Well you might be assuming it could be a fake story until you send some coin to unintended wallet. This is really why we should be careful with our dealings.
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June 15, 2018, 08:23:13 PM
 #30

If your bank was hacked, would you suddenly lose faith in fiat currency? Would you suddenly convert all your fiat currency into bitcoin? No, I highly doubt it. People need to stop blaming bitcoin, it isn't bitcoin that is vulnerable to hacking, it is the exchanges that don't properly secure their assets. Similarly bank heists used to be much more common until precautionary measures were taken. A few events like this will make bitcoin stronger, as security protocols around its storage are bolstered.

It is not easy to carry 10 kilos. How will thiefs/robbers carry and move with 1000 kilos of gold or cash ??
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June 16, 2018, 07:45:08 AM
 #31

Since Mt. Gox lost a lot of bitcoins in 2014, we have seen the frequent hacker theft of coins on these exchanges, so now I don't believe in the exchange, and all my coins are stored in my wallet.
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June 16, 2018, 08:25:07 AM
 #32

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
You're right. NEM tokens are stolen on some exchanges because these exchanges are not secure and they have a lot of holes. Even Binance also has been stolen some tokens
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June 16, 2018, 08:28:28 AM
 #33

Is NEM open source?
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June 16, 2018, 08:32:26 AM
 #34

I dont know about NEM's case, but for Mt.Gox it was stolen not lost, someone still have that bitcoins. Always remember the safest place to keep cryptocurrency is personal wallet, not exchanger wallet, keep it safe, dont put it on exchanger for long time
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June 16, 2018, 08:39:09 AM
 #35

The coins are still stored in the Blockchain, they just shifted from their original address to another address not owned by the account holders on the MtGox exchange. You cannot remove any coins from the Blockchain, but you can mix the coins up a little that they cannot be traced back to the original owner.  Wink

As a matter of fact, you might be using some of the coins that was stolen in the MtGox hack.  Grin The exact same thing happens with cash, you will never know where that cash was, before it reached you.

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June 16, 2018, 08:22:23 PM
 #36

Since Mt. Gox lost a lot of bitcoins in 2014, we have seen the frequent hacker theft of coins on these exchanges, so now I don't believe in the exchange, and all my coins are stored in my wallet.

It is likely that those bitcoins were converted into something untraceable like monero. Once it has been laundered the trail goes cold and with all these new decentralised exchanges it makes it even more difficult to track

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June 18, 2018, 03:01:25 PM
 #37

It is just a known number from single source but the real number of lost Bitcoin is much more than this number. We don't have the mass awareness regarding the usage precautions while using cryptocurrencies and hence some people make mistakes resulting in a irrecoverable loss. Even there are theories claiming that Satoshi's Bitcoins are lost but that must be the different case.
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June 19, 2018, 06:25:28 PM
 #38

It is just a known number from single source but the real number of lost Bitcoin is much more than this number. We don't have the mass awareness regarding the usage precautions while using cryptocurrencies and hence some people make mistakes resulting in a irrecoverable loss. Even there are theories claiming that Satoshi's Bitcoins are lost but that must be the different case.

Blockchain technology can be trusted ?? Is it reliable and 100% secure/safe ??
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June 20, 2018, 01:49:33 AM
 #39

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??

Mt gox was stolen indeed, but they should able to track the hacker address right ?
such massive wallet hack should not let running free in cryptocurrency world. It will causing the price to drop if they dump it.

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June 20, 2018, 01:54:33 AM
 #40

They were not lost, they were stolen. About the stolen NEM tokens - it was the exchange fault, not the blockchain.
Thats right and must be known by many so they wont think about losing large volume of bitcoin in the air

This exchange until now has been issue because of their big amount of bitcoin on hand,i hope this must be resolved for the benefits of all since this thing was affecting the market price everytime they are moving the coins
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June 24, 2018, 02:22:31 PM
 #41

The coins are still stored in the Blockchain, they just shifted from their original address to another address not owned by the account holders on the MtGox exchange. You cannot remove any coins from the Blockchain, but you can mix the coins up a little that they cannot be traced back to the original owner.  Wink

The hackers also become anonymous because Bitcoin has anonymity for its users. Negative side of Bitcoin. It is like stealing money from tax evaders who are hiding their money under the carpet.
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June 24, 2018, 02:29:42 PM
 #42

It reminds us to be more careful in storing bitcoin in the wallet or in exchange, the more bitcoins are stolen the more negative value for investors who are afraid to invest in cryptocurrency.
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June 24, 2018, 02:55:49 PM
 #43

They are not lost but they are stolen. There are an estimated sixteen to seventeen million Bitcoins that are completely lost forever because wallet owners forget their wallets and remove them. Any exchange or other service that loses coins due to theft or loss of data, is simply the result of how incompetent or shady the service or exchange is concerned. People are people who do not mess up Bitcoin, but it does not seem like something controlled by an empty mainstream media source.
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June 24, 2018, 03:02:22 PM
 #44

should be for anyone who is party to the currency of cryiptocurrency. should be able to provide public facilities. both in terms of asset security. and so forth. so the bitcoiners do not get nervous and afraid to invest in bitcoin .
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June 24, 2018, 03:13:34 PM
 #45

They are not lost but they are stolen. There are an estimated sixteen to seventeen million Bitcoins that are completely lost forever because wallet owners forget their wallets and remove them. Any exchange or other service that loses coins due to theft or loss of data, is simply the result of how incompetent or shady the service or exchange is concerned. People are people who do not mess up Bitcoin, but it does not seem like something controlled by an empty mainstream media source.
Is this a joke? 16-17 million is almost all the coins that are mined at the moment. I heard that the lost are considered about 2.5 million bitcoins. Bitcoin theft from the exchange is the result of management incompetence. That's why I never keep my coins on exchanges. I keep in the refrigerator and send to the exchange only when I need to make an exchange.
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June 24, 2018, 03:35:04 PM
 #46

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??
I think that is not lost. that is stolen. Coin still on Blockchain and still someone can transfer it through another wallet!
Digital money must do well to be secure and encrypt the data!
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July 02, 2018, 11:32:31 PM
 #47

As far as I know, the funds from Mt.Gox were stolen and are now kept by someone. The biggest problem now is the inadequate security of crypto-exchange platforms and I believe that project developers must take care first of all of security before launching. As soon as the developers start to protect their projects normally we will be able to see the active growth of the crypto currency.

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July 06, 2018, 04:36:48 AM
 #48

Hackers are not lacking in the world, they are skilled but do illegal work, Bitcoin is the property, so the best preserve, You will suddenly convert all your fiat currency into bitcoin? No, I'm very suspicious of that. People need to stop blaming Bitcoin, it is not a bitcoin vulnerable to attacks, it is the trading floor does not guarantee their property security.
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July 06, 2018, 04:54:23 AM
 #49

those 650000 has the owner of mt gox, he stole and sold them a part in 20,000 and the payment to customers in 8000 and he earned money if and nem a security flaw but bicoin is still the leader and part of them there are many lost bitcoins that people voted their private keys are lost every day around the world several bitcoin

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July 06, 2018, 08:55:57 AM
 #50

When Mt. Gox collapsed in 2014, some 650,000 bitcoins were lost. While it was a rather big sum four years ago, it is now worth $5.2 billion. Another big failure may result in a total loss of confidence in the cryptocurrency, resulting in an exodus to fiat money and commodities.

Last week, $500 million in NEM cryptocurrency were stolen, adding more concerns about the lack of security of investing in cryptocurrencies.

https://www.rt.com/business

650,000 Bitcoins got lost from Blockchain ??

That is the main reason why bitcoin price is so expensive than 2014 now. Many coins lost, and the demands keep increasing.
If many peoples want to buy bitcoin but the circulating supply is low, then bitcoin price will increase over time.

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July 06, 2018, 09:15:02 AM
 #51

could be because of the scams that are out there all the time, one gotta be really careful with these
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