I lost 206000 dollars in MTGOX

[flyable]

.... I do not trust Bitcoin again.

....I do not trust MTGOX, I do not trust my ability to store BTC safely and ability to listen hundreds of warnings about situation around MTGOX again .


FTFY 


It is not fault of Bitcoin...

Please let me know why Bitcoin foundation did not give us the warnings. Should we trust Bitcoin foundation? Should we trust the developers of Bitcoin? Should we trust Bitcoin?

[DanielVG]

Hardcore reality check for you man...
Makes me feel better about the minor loses i had.
So you did a good thing, somehow....

[yenom]

Please let me know why Bitcoin foundation did not give us the warnings. Should we trust Bitcoin foundation? Should we trust the developers of Bitcoin? Should we trust Bitcoin?

FFS get a grip! Karpeles was on the board until he recently resigned. Why the hell are you involved with bitcoin if you can't be bothered to do the most basic research?

[BitOnyx]

Well I gues a lot of people lost a lot of money there. I'm more surprised someone is showing off how much money they drowned there. 206k$ is a lot of cash, you had a lot of trust in to them. I hope there aren't as many people as you out there.

[E.exchanger]

People are stilling thinking that gox will come back but the fact is gox gone forever. anyways for the whole media story cover for gox  go here

http://www.bbc.com/news/technology-26352442

[lunas]

i keep my bitcoins stuffed into a mattress

[grifferz]

i keep my bitcoins stuffed into a mattress

The Princess and the BTC.

[matt4054]

.... I do not trust Bitcoin again.

....I do not trust MTGOX, I do not trust my ability to store BTC safely and ability to listen hundreds of warnings about situation around MTGOX again .


FTFY  


It is not fault of Bitcoin...

Please let me know why Bitcoin foundation did not give us the warnings. Should we trust Bitcoin foundation? Should we trust the developers of Bitcoin? Should we trust Bitcoin?

I am sorry that some people more informed than you are making a fool of you.

Bitcoin is a very robust and safe technology, and there is nothing broken about it. The problem is that it still requires some basic training before you start to use them. I would say it requires about 1-2 hours of reading, you may start with the Bitcoin Wiki, for example.

Unless you are willing to take that basic training, you are putting yourself at risk when you are dealing with Bitcoin.

That 1-2 hours basic training includes the following teachings, with all due respect (I'll be bold and use boldface)

• Bitcoin has been designed so you can actually OWN them. Owning Bitcoin means that 1) you own the private keys for your addresses, 2) no one else does. In other words, it is OK to use a wallet like Bitcoin-Qt, Multibit, Electrum or even Blockchain.info. It is NOT OK to use third parties like MtGox, Bitstamp, inputs.io, etc. as your wallet. You will get burned.
• By trusting third parties to keep "your" Bitcoin, you are actually giving them your coins in exchange for a promise from them to give them back (IOU). This is VERY dangerous and there is absolutely no reason to take that risk until a very strong financial insurance and external auditing is backing that promise. Even if you are daytrading, it's worth withdrawing all your coins at the end of the day
• The Bitcoin Foundation is absolutely not Bitcoin's regulatory body, they are absolutely not monitoring, auditing or responsible for exchanges and services in any way,
• The Bitcoin developers cannot "force" you to understand what you are doing with your coins before allowing you to download and use their software. They can only urge you to do it. In other words, they cannot protect yourself from your own lack of knowledge

Now it is up to you to put the blame on Bitcoin if you want. But if Bitcoin succeeds and becomes what many here believe it will become (i.e. a huge success), you might end up "double-regretting" it in the future: not only your coins were stolen as an early, misinformed adopter, but you didn't take the chance to learn from it and "get rich again" before the masses wake up and everyone wants some Bitcoin

[Elwar]

I hope you do not open e-mail from people in Africa.

[szwagier]

Gox needs investor-necromant card if u like to get your coins back

[Sheldor333]

You put your savings in bitcoin. Why would you do that? Like it hasn't been repeated here a 1000000 times not to invest what you can't afford to lose. It's a gamble like any other. Still I'm sorry you lost. Hope you will manage to get at least part of it back.

[jl2012]

I hope you do not open e-mail from people in Africa.

Based on his previous (mostly Chinese) and current posts, he simply doesn't understand bitcoin, even he started in 2011. Bitcoin is just like a get-rich-quick black box for him, backed by Bitcoin Foundation and "Satoshi of MtGox". He was lucky enough to discover this once-in-several-generations opportunity and earn a few hundred early adopter coins, but he never tried to figure out why Bitcoin makes him rich.

Anyway, if he is lucky enough to have a few coins left in his local wallet, he should now learn how to keep them safe.

[jl2012]

You put your savings in bitcoin MtGox. Why would you do that? Like it hasn't been repeated here a 1000000 times not to invest what you can't afford to lose. It's a gamble like any other. Still I'm sorry you lost. Hope you will manage to get at least part of it back.

FTFY. There's nothing wrong with Bitcoin here.

[Bitcoinpro]

I have 206000 dollars in my MTGOX account before Feb.7. These money are sleeping in MTGOX for years. I trust MTGOX & Bitcoin foundation very much. I thought Satoshi is behind MTGOX. (I think I am a idiot!!)

After a serials of good news and bad news and the market manipulation in these dark days, my balance is slim to 64000 dollars. I finally decide to retrieve the money via Bitcoin builder. I bought 320 btc at 200 in MTGOX. MTGOX suddenly shut down when I am withdrawing the bitcoin!

I think all the money are gone. All I want is putting Mark Karpeles to the jail. I do not trust Bitcoin again.

A simple Address search revealed he still has thousands of BTC send me a PM I have PM'ed you as well Ill be happy to get your Coin back I'm sure we can come to an arrangement getting ready to book my tickets to Japan  

[ljudotina]

Please let me know why Bitcoin foundation did not give us the warnings. Should we trust Bitcoin foundation? Should we trust the developers of Bitcoin? Should we trust Bitcoin?

Because Bitcoin fundation is self elected group of people that have nothing to do with anything. They work for their own gain and nothing else. How did you even conclude that they are someone that will "warn" you or "protect" you?!

[jl2012]

.... I do not trust Bitcoin again.

....I do not trust MTGOX, I do not trust my ability to store BTC safely and ability to listen hundreds of warnings about situation around MTGOX again .


FTFY  


It is not fault of Bitcoin...

Please let me know why Bitcoin foundation did not give us the warnings. Should we trust Bitcoin foundation? Should we trust the developers of Bitcoin? Should we trust Bitcoin?

I am sorry that some people more informed than you are making a fool of you.

Bitcoin is a very robust and safe technology, and there is nothing broken about it. The problem is that it still requires some basic training before you start to use them. I would say it requires about 1-2 hours of reading, you may start with the Bitcoin Wiki, for example.

Unless you are willing to take that basic training, you are putting yourself at risk when you are dealing with Bitcoin.

That 1-2 hours basic training includes the following teachings, with all due respect (I'll be bold and use boldface)

• Bitcoin has been designed so you can actually OWN them. Owning Bitcoin means that 1) you own the private keys for your addresses, 2) no one else does. In other words, it is OK to use a wallet like Bitcoin-Qt, Multibit, Electrum or even Blockchain.info. It is NOT OK to use third parties like MtGox, Bitstamp, inputs.io, etc. as your wallet. You will get burned.
• By trusting third parties to keep "your" Bitcoin, you are actually giving them your coins in exchange for a promise from them to give them back (IOU). This is VERY dangerous and there is absolutely no reason to take that risk until a very strong financial insurance and external auditing is backing that promise. Even if you are daytrading, it's worth withdrawing all your coins at the end of the day
• The Bitcoin Foundation is absolutely not Bitcoin's regulatory body, they are absolutely not monitoring, auditing or responsible for exchanges and services in any way,
• The Bitcoin developers cannot "force" you to understand what you are doing with your coins before allowing you to download and use their software. They can only urge you to do it. In other words, they cannot protect yourself from your own lack of knowledge

Now it is up to you to put the blame on Bitcoin if you want. But if Bitcoin succeeds and becomes what many here believe it will become (i.e. a huge success), you might end up "double-regretting" it in the future: not only your coins were stolen as an early, misinformed adopter, but you didn't take the chance to learn from it and "get rich again" before the masses wake up and everyone wants some Bitcoin

So Bitcoin foundation are not monitoring itself too?? Mtgox is one of only two Bitcoin Foundation Gold Members. How could Bitcoin foundation "protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide"? Who found the Bitcoin Foundation? If you donot trust the developer, how could you trust bitcoin?

Bitcoin Foundation CLAIMS it "protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide". No more, no less. You need to make your own judgement.

Bitcoin is a opensource project. You don't need to trust the developer. You can learn and review the source code.

Bitcoin is about freedom, but freedom is not free. With the more freedom, you have more responsibility to take care of your money. If you simply can't handle it, or you are not care to learn it, please go back to the traditional banking system which is (supposedly) backed by the government.

[DubFX]

Wow this is really big loss, wish you good luck but i don't think that gox woul "surprise" us

[flyable]

I hope you do not open e-mail from people in Africa.

Based on his previous (mostly Chinese) and current posts, he simply doesn't understand bitcoin, even he started in 2011. Bitcoin is just like a get-rich-quick black box for him, backed by Bitcoin Foundation and "Satoshi of MtGox". He was lucky enough to discover this once-in-several-generations opportunity and earn a few hundred early adopter coins, but he never tried to figure out why Bitcoin makes him rich.

Anyway, if he is lucky enough to have a few coins left in his local wallet, he should now learn how to keep them safe.

You are a early adopter too. Did bitcoin makes you rich too? Did you sell bitcoin on 1000 dollars? Did you earn a few hundred early adopter coins? I do not know why could you give these words, you know nothing.

THIS IS MY FAULT. I AM A IDIOT, OK?

[jl2012]

I hope you do not open e-mail from people in Africa.

Based on his previous (mostly Chinese) and current posts, he simply doesn't understand bitcoin, even he started in 2011. Bitcoin is just like a get-rich-quick black box for him, backed by Bitcoin Foundation and "Satoshi of MtGox". He was lucky enough to discover this once-in-several-generations opportunity and earn a few hundred early adopter coins, but he never tried to figure out why Bitcoin makes him rich.

Anyway, if he is lucky enough to have a few coins left in his local wallet, he should now learn how to keep them safe.

You are a early adopter too. Did bitcoin makes you rich too? Did you sell bitcoin on 1000 dollars? Did you earn a few hundred early adopter coins? I do not know why could you give these words, you know nothing.

THIS IS MY FAULT. I AM A IDIOT, OK?

Sorry if you find I'm rude but this is not a good place to look for sympathy.

The point is not whether bitcoin makes me rich. This is not a get-rich-quick scheme to me. I heard about it, learnt its mechanism, found it as a brilliant idea, and am now trying to contribute to it.

[matt4054]

So Bitcoin foundation are not monitoring itself too??

The Bitcoin Foundation is monitoring the Bitcoin software and network.

If the Bitcoin software is broken (coin theft from wallets, bogus transactions, double spends), that would be a concern to the Foundation.
If the Bitcoin network is broken (forked, filtered, blocked, compromised etc.), that would be a concern to the Foundation.

They also have a political and lobbying component to promote and protect Bitcoin: if your Bitcoins get stolen by your government, because they raid your place, put a gun on your head to have you release your private keys, they will certainly try to get involved to voice their concerns to that government and help you expose their behaviour to the world.

With the failure of MtGox, it is very likely that they will broaden their scope to try to do their best to try to convince all major exchanges to cooperate with them to get them audited externally and segregate deposits from their operational business. Unfortunately, it requires cooperation from them and the Foundation just doesn't have the authority to arbitrarily regulate a foreign, private entity like MtGox / Tibanne.

Mtgox is one of only two Bitcoin Foundation Gold Members.

It just means that they are major sponsors to the Foundation. Nothing more, i.e. it doesn't work the other way -- it is NOT an endorsement of the Foundation for sponsors.

But I admit that it is a kind of conflict of interest in light of the recent events, and it's already being discussed internally. You will have to acknowledge that the Foundation did get the resignation of Mark Karpeles, MtGox's CEO, from the Foundation Board. IMHO this was really due and as a member of the Foundation myself, I wouldn't have accepted had it been otherwise, and I would eventually have resigned myself voluntarily from my paid, lifetime membership if Karpeles was to stay at the board of the Foundation.

How could Bitcoin foundation "protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide"? Who found the Bitcoin Foundation? If you donot trust the developer, how could you trust bitcoin?

The Foundation is made of people like you and me. You can join anytime, the personal, yearly membership is about $30 worth of BTC if I recall well.

And you totally got me wrong if you still think that I do not trust the developers of Bitcoin, I trust them a lot, unlike EXCHANGES, because Bitcoin core devs are transparent, I can read the sensitive open source code at any time.