Should the foundation apologize to GOX?!

[DoomDumas]

Apologize for what?
For letting them run a custom software that was buggy?

Gox did so much damage with their statement to the bitcoin world , they are the ones that should apologize.

+1

Gox was supposed to be aware of the possible attack, and should've used better procedure/software before manually resent BTC to a user complaining Tx did'nt go trought !

But anyway, speak bad or good, but speak   and I enjoyed every buying opportunity Gox created.  Hope Gox users are'nt too much affected ..

[impulse]

Primarily the reason why people are so upset with Gox is that they have long since used up any goodwill that they may have had in this community as a result of their repeated incompetence and poor business decisions. Historically, they are responsible for aggravating if not creating at least 3 major crashes, found themselves involved in lawsuits with business partners, been the victim of government confiscation for improperly filed forms and been unable to provide cash withdrawals for prolonged periods, which has rendered their services half functional at best. The don't seem up to the challenges of the business they are involved in.

This latest debacle demonstrates their complete lack of professionalism and highlights their inability to respond to challenges in a responsible and appropriate way. Their public statement was designed to absolve them of any personal responsibility for a problem that arose as a result of their ignorance of important properties within the protocol, of which they are supposed to be experts. The real problem however was the overstated and public airing of dirty laundry, which provided every hacker in the world the knowledge required to disrupt the network in a damaging way. The right response would have been to resolve the issue privately with the developers and other exchanges before releasing any information publicly. This would have been the most ethical way to approach the problem and one that would have scored them big points in the community and help to rehabilitate their shattered reputation. Instead the opted for the easy way out and chose to pass the buck, a strategy that only ever serves to damage your reputation.

edit: Oh and to answer the original question, no I don't think that they deserve an apology from the foundation, if anything, I think they owe the community one.

[DeathAndTaxes]

If you aren't the sole controller of your private keys, you don't have any bitcoins.

This can't be said enough.  If "your" bitcoins are under someone elses control you have an IOU for bitcoins, not bitcoins.   Bitcoins can't be defaulted on, IOUs can.  Bitcoins can't be blocked, IOU redemption requests can.

This is one reason why BitSimple never holds user bitcoin balances.  I feel Bitcoin is more secure when users take control of their own wealth.  With instant rate lock there, I need liquidity is no excuse anymore.  You can sell Bitcoins directly from your wallet (any wallet) for dollars in seconds.

[DannyHamilton]

This can't be said enough.  If "your" bitcoins are under someone elses control you have an IOU for bitcoins, not bitcoins.

+1

So many people don't seem to realize that as soon as you send your bitcoins to an "account" or "wallet" where you don't have exclusive control over the private keys (such as MtGox, BitStamp, BTC-E, CoinBase, inputs.io, BitFloor, Bitcoinica, BS&T, etc) they are no longer your bitcoins.  You have voluntarily donated your bitcoins to the entity that controls the private keys, in exchange for a promise from that entity to honor any request you make of them on how you would like them to use what is now their bitcoins.

You have to decide for yourself how much you trust that entity to be able to honor that promise in the future. Whether or not you make such a donation should be based on the level of trust you have for the entity that controls the private keys.  You need to trust that they won't lose the bitcoins to a hardware or software failure.  You need to trust that they will secure the bitcoins against seizure by a government agency. You need to trust that their security practices will be sufficient to prevent theft of the bitcoins. You need to trust that they (or any of their employees, friends, or family) won't steal the bitcoins.

Why does anyone place so much trust in what is typically a pretty anonymous internet entity?  Are they regulated?  Are they audited (have you seen the audit report)? Are they insured?

When such bitcoins eventually become inaccessible, it is important to realize that the fault is two-fold.  Fault for being untrustworthy and criminal certainly resides with the entity that failed to deliver on the promise of accessibility, however fault for failing to adequately measure the trustworthiness resides with the individual for making the poor decision to entrust an untrustworthy entity with delivering on false promises.

[IsaacGoldbourne]

So I posted the other day I had too many coins in gox across accounts to admit haha, and felt admitting that it was due to complacency and stupidity that I did so .... I take that back.  I now have 5783 coins in Gox as I am buying here and if I have the patience and guts to buy back in to 8,000 coins then I will do so.  They have never done me wrong and I understand that this is an experiment.  If I lose, I lose and I knew that way back when.

So who here has heard of a Board of Directors who knew there was a problem for over two and a half years and wrote papers and academics detailing the problem but did not act until after the problem had manifested itself?  The Federal Reserve you would say!?!  And you would be right.

What is different here is we have the power to do something about it and soon you are going to see some changes.  From me.  I am in the shadows working on many projects but one of them will simply be a new core team of developers for BTC, the community will have the opportunity to go in Bitcoin 1.0's direction or Bitcoin 2.0's direction.  I see too much Americentric development and discussion around Bitcoin's future.  Luckily the phenomenon has a voting mechanism to choose which way they wish to go with 51% of the network power.

They have all served their purpose and done well.  However for the experiment to become reality, we will require a bit more discipline and less drama.

I call bullshit on everything you just said.

[bitpop]

.

[RodeoX]

This can't be said enough.  If "your" bitcoins are under someone elses control you have an IOU for bitcoins, not bitcoins.

+1

So many people don't seem to realize that as soon as you send your bitcoins to an "account" or "wallet" where you don't have exclusive control over the private keys (such as MtGox, BitStamp, BTC-E, CoinBase, inputs.io, BitFloor, Bitcoinica, BS&T, etc) they are no longer your bitcoins. ...

++1
The only bitcoins you own are the ones associated with the private keys you control. Satoshi created for us a trust-less system of money. The moment you trust another entity with your private keys, that all goes away and if those coins are taken there is nothing you can do about it.
This is also true for the many investment scams going on here. If someone wants you to invest in their business or claims to have a way to double your money. You will need to do far more due diligence than a normal investment. There is absolutely no protection for you and if you are ripped off, say goodbye to your money.  The police, the courts, nobody is going to help you; or even understand you.

[bitpop]

This can't be said enough.  If "your" bitcoins are under someone elses control you have an IOU for bitcoins, not bitcoins.

+1

So many people don't seem to realize that as soon as you send your bitcoins to an "account" or "wallet" where you don't have exclusive control over the private keys (such as MtGox, BitStamp, BTC-E, CoinBase, inputs.io, BitFloor, Bitcoinica, BS&T, etc) they are no longer your bitcoins. ...

++1
The only bitcoins you own are the ones associated with the private keys you control. Satoshi created for us a trust-less system of money. The moment you trust another entity with your private keys, that all goes away and if those coins are taken there is nothing you can do about it.
This is also true for the many investment scams going on here. If someone wants you to invest in their business or claims to have a way to double your money. You will need to do far more due diligence than a normal investment. There is absolutely no protection for you and if you are ripped off, say goodbye to your money.  The police, the courts, nobody is going to help you; or even understand you.

Yup 99% of scams prey on your greed. Get richer by not being greedy.

[Tampoonie1]

Definitely. They were wrong about the bitcoin issues. People who claimed gox was 'full of shit' should definitely apologize!

[bitpop]

.

[DooMAD]

Definitely. They were wrong about the bitcoin issues. People who claimed gox was 'full of shit' should definitely apologize!

I apologise for not saying they're full of shit yet.  I just said they were incompetent, useless idiots.  But yeah, add 'full of shit' to the list too.

[kies1107]

Of course, I also think the idea of them is wrong bitcoin

[roslinpl]

Wesand: you have over 5000 coins in gox??

ufff that must be stressfull....

[Musent]

No, sorry but Gox is to blame for this mess :/.

[Lauda]

Gox should apologize to us all.

[roslinpl]

...  I now have 5783 coins in Gox as I am buying here and if I have the patience and guts to buy back in to 8,000 coins then I will do so.  ...

Bwahahahahahahaaaaaaaaa

Sad but true isn't?


funny too
MtGox issues are so "funny".. erhm

[apulunas]

dude the guy tried to shake the very foundation of bitcoin... what kind of sin you expect mk to commit to be persecuted?

[bitcoinminer]

Please continue sending your money to Mt. Gox.  Once all of the coins are gone we will no longer have to have these threads.

[Lauda]

Please continue sending your money to Mt. Gox.  Once all of the coins are gone we will no longer have to have these threads.

Not sure why people keep using it.

[Musent]

Please continue sending your money to Mt. Gox.  Once all of the coins are gone we will no longer have to have these threads.

LOL, my sentiments exactly.