Bitcoin Forum
May 01, 2024, 10:58:15 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: GOXXED AGAIN  (Read 992 times)
dmartig (OP)
Member
**
Offline Offline

Activity: 97
Merit: 10


View Profile
March 08, 2014, 04:28:15 AM
 #1

http://www.coindesk.com/gox-money-moving-through-block-chain/
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714604295
Hero Member
*
Offline Offline

Posts: 1714604295

View Profile Personal Message (Offline)

Ignore
1714604295
Reply with quote  #2

1714604295
Report to moderator
1714604295
Hero Member
*
Offline Offline

Posts: 1714604295

View Profile Personal Message (Offline)

Ignore
1714604295
Reply with quote  #2

1714604295
Report to moderator
1714604295
Hero Member
*
Offline Offline

Posts: 1714604295

View Profile Personal Message (Offline)

Ignore
1714604295
Reply with quote  #2

1714604295
Report to moderator
casinocoin
Legendary
*
Offline Offline

Activity: 849
Merit: 1050


CasinoCoin


View Profile WWW
March 08, 2014, 04:29:25 AM
 #2

https://bitcointalk.org/index.php?topic=505044.0
Armis
Hero Member
*****
Offline Offline

Activity: 588
Merit: 501



View Profile
March 08, 2014, 06:22:51 AM
 #3



https://bitcointalk.org/index.php?topic=492776.0;all


If you want to improve things I'm suggesting the following:

1) help find the money
2) encourage the various exchanges to adopt higher standards of security, responsibility, transparency, and accountability.  They should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) ask others to help the cryptocurrency industry in any of these 4 ways

as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing spiral.  Essentially, btc holders are slowly cashing in their coins in hopes that something material changes.  But as time passes the realization of the btc protocol flaw (inability to find the money, resulting in unreasonably high risk) becomes painfully clear.

The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's useless large scale roll-out.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!