I'll chime in finally with a doozie..

[WolfofBitcoin]

I am one of the top losers of coins on Gox.  That is life.  There is more where they came from and the show will go on.

I am not mad at Gox.  I am not angry with Mark.  What I'm disappointed with is a self-centered, fraudulent corrupt system that completely turned their back on a semi-retarded kid that had a billion dollars on a memory stick because they were too blind and busy looting the standard system to even blink an eye on a phenomenon that will change mankind forever.

Wall Street, regulators, auditors, accountants, banks, associations, police, schools and centers of academia all failed miserably with every single one of their mamtras, mission statements and purpose for their existence.  I read their propoganda about how they are all here to help and then I think about monkey-man Mark begging for someone to help him while his "video game" grows out of control into a billion dollar enterprise!  These institutions and infrastructure used to be in place to foster capital, create a future, protect ideas and spur imagination and creativity.

Now unfortunately they round up capital for companies like Zynga or other non revnue generating businesses that provide little to nothing for humanity, or they play around with fractions of a second in time trying to circumvent or game the system.  All to provide for a gambling mecha that is now out of the reach of any regulator or policing of any kind.  Every institution has been corrupted directly or indirectly through its partnerships and practices.  Stalwarts like Arthur Anderson, AIG, Citigroup, on and on and on and on.

Here we are with one of the most profound creations of mankind since we began to mine gold 5,000 years ago.  It is really nothing short of a spectacular moment in human history.  Unfortunately few have noticed.  Instead the phenomenon is being regarded as digital music was in he 80's, or the Internet in the 90's, or better yet - not too far off  the mark - Black's in the 50's.  All terrible changes in direction that were vilified and attacked and ended up changing the course of the entire human race!

Mark its not your fault buddy.  It is everyone around you for who is to blame.  You can not be mad at someone who is incompetent, you can only be mad at yourself for thinking that person was anything but incompetent.  However for the higher levels of institutions that turned their back, they can not be afforded the designation of ignorance - they were anything but!  They were just to busy being corrupt and greedy.

[jonald_fyookball]

I don't get your point.  "Its not Mark's fault, its the worlds fault?" huh?

[Bit_Happy]

Edit: Mark was a criminal in France.
You are being a bit too kind perhaps?

[WolfofBitcoin]

I too understand what you are saying, however considering 75% of most of the people that run the institutions I speak of are also criminals or at the very least morally flawed, Mark is just another fella and far from a malicious parasite like a regard almost everyday in capital markets.  Everyone trying to outwit one another for the betterment of their respective firm or agenda with no actual goal what-so-ever.  Sad.

[smoothie]

I am one of the top losers of coins on Gox. 

Proof please. Newb account claims to have one of the top amounts of coins on GOX.

 

[jr3951]

-I am one of the top losers of coins on Gox.  That is life.  There is more where they came from and the show will go on.

-What I'm disappointed with is a self-centered, fraudulent corrupt system that completely turned their back on a semi-retarded kid that had a billion dollars on a memory stick because they were too blind and busy looting the standard system to even blink an eye on a phenomenon that will change mankind forever-Wall Street, regulators, auditors, accountants, banks, associations, police, schools and centers of academia all failed miserably with every single one of their mamtras, mission statements and purpose for their existence-I read their propoganda about how they are all here to help and then I think about monkey-man Mark begging for someone to help him while his "video game" grows out of control into a billion dollar enterprise!

-not too far off  the mark - Black's in the 50's.  All terrible changes in direction that were vilified and attacked and ended up changing the course of the entire human race!

-Mark its not your fault buddy.

-I lost 40 coins on gox, quite a sum for myself, I'm in my early 20's, it was my life savings, lesson learned

-It's not the job of everyone else to watch every transaction going in and out of every company and constantly checking solvency

-that is very far off the mark, horrible comparison, but Ill grant the other ones, maybe "jazz" or "the blues" would be more apt, but no one is getting hosed in the streets over bitcoin

-it is quite literally, almost entirely his fault, him going to jail won't recover my coins, but he deserves it

[bryant.coleman]

I am one of the top losers of coins on Gox.  That is life.  There is more where they came from and the show will go on.

What makes you think that we'll believe whatever you post here? I have also lost some of my coins with Gox. And I believe that Karpeles should go to jail for that.

[crunchynut]

I am one of the top losers of coins on Gox. 

Proof please. Newb account claims to have one of the top amounts of coins on GOX.

 

i can confirm it. before mtgox went out of business, i as well was one of the top account hodler and as such i know mr wolfofbitcoin very well.

[serenitys]

Bravo to the OP, though I've heard the MtGox story only in a superficial way and not any real details...but I'm sorry for everyone who got ripped off or lost money.

That said, how did you lose it? I had a similar question about the FBI seizing someone's btc and asked how, exactly, it was seized.

I've got 0btc but am on the verge (got a help a girl out thread in the help and support section for anyone who likes 20 questions and loves espousing advice even more)...but all I hear about btc is how secure it is and the only way someone can get your money is if they have your private key...and I'd imagine if someone is smart enough to know the code tech version of bitcoin and run a big popular site, they'd also know the risk factor and wouldn't have lost anything.

So what's the real story on this before I put any money in it - is the private key the only possible way that someone can take your money out from under you? I know if you lose it, it's gone...but are we talking "don't give someone your password to anything" level of common sense or private key = precious gold that is easily swiped regardless of a key or password?

I've read in various places the warning to "never store your btc on the exchange" or in the wallet on a site, or only put it there when you do a transaction...but where is it otherwise? If you keep it stored offline is it still subject to valuation? If you have it stored online and the value drops to 0 is the btc GONE - like it shrinks til it's history, or is the value itself just bottomed out? Why is it different if it's offline?

Clearly I'm missing something...hope you can clarify this blank spot and how, exactly, you can lose btc or how it's offline as opposed to on.

ETA - like this example in the ad spot on another thread:

"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- gmaxwell

If this is true, how would the feds seize any of it or and how could they "liquidate" it anyway unless it's via an exchange or via the network? Or how would someone lose other peoples money? What was the exception that invalidates that quote and claim?

[jr3951]

Bravo to the OP, though I've heard the MtGox story only in a superficial way and not any real details...but I'm sorry for everyone who got ripped off or lost money.

That said, how did you lose it? I had a similar question about the FBI seizing someone's btc and asked how, exactly, it was seized.

I've got 0btc but am on the verge (got a help a girl out thread in the help and support section for anyone who likes 20 questions and loves espousing advice even more)...but all I hear about btc is how secure it is and the only way someone can get your money is if they have your private key...and I'd imagine if someone is smart enough to know the code tech version of bitcoin and run a big popular site, they'd also know the risk factor and wouldn't have lost anything.

So what's the real story on this before I put any money in it - is the private key the only possible way that someone can take your money out from under you? I know if you lose it, it's gone...but are we talking "don't give someone your password to anything" level of common sense or private key = precious gold that is easily swiped regardless of a key or password?

I've read in various places the warning to "never store your btc on the exchange" or in the wallet on a site, or only put it there when you do a transaction...but where is it otherwise? If you keep it stored offline is it still subject to valuation? If you have it stored online and the value drops to 0 is the btc GONE - like it shrinks til it's history, or is the value itself just bottomed out? Why is it different if it's offline?

Clearly I'm missing something...hope you can clarify this blank spot and how, exactly, you can lose btc or how it's offline as opposed to on.

ETA - like this example in the ad spot on another thread:

"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- gmaxwell

If this is true, how would the feds seize any of it or and how could they "liquidate" it anyway unless it's via an exchange or via the network? Or how would someone lose other peoples money? What was the exception that invalidates that quote and claim?

Exchanges usually use their own wallet, so once you give it to them it is like handing them your cash, the "balance" displayed on their site is what they owe you, a voucher slip, not your coins

the feds probably seized DPR's stash because they found a copy of his wallet/key or something, so they have control over the coins and can use them as they please, they will probably liquidate them over several exchanges and a period of time

if you store them "offline" and the value drops to 0 USD, you still have x amount of bitcoins, just like if the value drops from 100$ to 90$ you dont lose 1 out of every 10 coins you own, valuation does NOT depend on exchanges, 1 bitcoin is 1 bitcoin and it is worth whatever somebody will take it for when you offer it for trade

it is better to store offline because a hacker getting past a websites security is a weak link in the chain, like when Target was hacked a few months ago for credit card info, the hacker stole the cards "private keys" off of a central location of storage with overcomable security

[irrational]

I am one of the top losers of coins on Gox. 

Proof please. Newb account claims to have one of the top amounts of coins on GOX.

 

i can confirm it. before mtgox went out of business, i as well was one of the top account hodler and as such i know mr wolfofbitcoin very well.

This statement doesn't make sense. Was there a club for gox high rollers? Lol.

Either way, OP misses the point that Gox wad /his/ fault, in part for leaving a balance in such a shady company. I mean, DANG.... There is a reason the term Goxed was a thing BEFORE their last goxing.

[FreeSocrates!]

Well I have to say this is one of the most Libtarded threads ever.

[BitCoinDream]

I am one of the top losers of coins on Gox.  That is life.  There is more where they came from and the show will go on.

I am not mad at Gox.  I am not angry with Mark.  What I'm disappointed with is a self-centered, fraudulent corrupt system that completely turned their back on a semi-retarded kid that had a billion dollars on a memory stick because they were too blind and busy looting the standard system to even blink an eye on a phenomenon that will change mankind forever.

Wall Street, regulators, auditors, accountants, banks, associations, police, schools and centers of academia all failed miserably with every single one of their mamtras, mission statements and purpose for their existence.  I read their propoganda about how they are all here to help and then I think about monkey-man Mark begging for someone to help him while his "video game" grows out of control into a billion dollar enterprise!  These institutions and infrastructure used to be in place to foster capital, create a future, protect ideas and spur imagination and creativity.

Now unfortunately they round up capital for companies like Zynga or other non revnue generating businesses that provide little to nothing for humanity, or they play around with fractions of a second in time trying to circumvent or game the system.  All to provide for a gambling mecha that is now out of the reach of any regulator or policing of any kind.  Every institution has been corrupted directly or indirectly through its partnerships and practices.  Stalwarts like Arthur Anderson, AIG, Citigroup, on and on and on and on.

Here we are with one of the most profound creations of mankind since we began to mine gold 5,000 years ago.  It is really nothing short of a spectacular moment in human history.  Unfortunately few have noticed.  Instead the phenomenon is being regarded as digital music was in he 80's, or the Internet in the 90's, or better yet - not too far off  the mark - Black's in the 50's.  All terrible changes in direction that were vilified and attacked and ended up changing the course of the entire human race!

Mark its not your fault buddy.  It is everyone around you for who is to blame.  You can not be mad at someone who is incompetent, you can only be mad at yourself for thinking that person was anything but incompetent.  However for the higher levels of institutions that turned their back, they can not be afforded the designation of ignorance - they were anything but!  They were just to busy being corrupt and greedy.

I dont know who u are or what u do. Very few people here will praise you analysis, but in the long run u have written something epic. I wish bitcoin gets more people like u. Rock on \m/

[softron]

I thought mtgox found most of those bitcoins. Wont they be refunded.

[serenitys]

Thanks jr for the clarification. Would I be correct then in saying that the security protocols for online are more aimed at the risk factor of having some exchange holding them than an actual personal hacking risk on a general user's computer? In the same context as your Target example: always have good passwords for stuff you do online but with 3rd party sites dealing with your money, extra security is best. Common sense more than some immediate looming threat?

[BitOnyx]

I don't really think he is semi-retarded.
For sure.

[ashapasa]

very nice offhanded consolation for Mark lol 

[Beliathon]

I don't really think he is semi-retarded.
For sure.

For a minute I thought OP was talking about himself, then I realize he was just jealous of the multi-millionaire master-thief that is Mark K.

Ironic that he named himself "WolfofBitcoin" and admitted to being a "top loser" on Gox.

@OP:
Kid, a real wolf doesn't lose big. A real wolf eats naive, gullible little shits like you for breakfast. Trust me.

[BittBurger]

The original post makes no sense to me.

-B-

[Bitobsessed]

it is doing exactly what Bitcoin was designed to do.  fraud and corruption gets exposed rather quickly.  if mt gox was a big bank this would have gone on for years if not decades.  I cannot think of another financial system out there that has been tested like this in its infancy and so far I think it's doing a pretty good job.