I'm leaving Bitcoin

[Denker]

Hello,
I just joined. I have just read about this bitcoin thing any I am excited to learn more about it.
Somebody is leaving somebody is coming. I guess that is how many things are. 

Welcome dude.
Always great to see new users in our space.
If you have any questions don't be shy and just ask.
Furthermore I recommend to check out our beginners section.

[1713310256]

1713310256

[1713310256]

1713310256

[molecular]

Hello,
I just joined. I have just read about this bitcoin thing any I am excited to learn more about it.
Somebody is leaving somebody is coming. I guess that is how many things are. 

THERE'S STILL TIME. TURN AROUND AND WALK AWAY AS IF YOU HADN'T SEEN ANYTHING. DO IT WHILE YOU STILL CAN!

I'm just kidding, welcome to the rabbit hole that is crypto

[SimplisticStu]

Zhou Tong is now the Co-founder of Coin Jar to service Australian Bitcoin customers.
Since the Bitcoinica hack,  incredibly strong evidence has emerged that Zhou Tong was the actual thief.
His whole Chinese millionaire relic collector story was too unbelievable to begin with as well.

More details here: https://forum.bitcoin.com/ama-ask-me-anything/i-m-asher-tan-co-founder-ceo-of-coinjar-ask-me-anything-t2262.html#p6434

Thanks for the link, I've just come across this story and already looking at various sources of info, it makes for an interesting read.

[btcltccoins]

No, this isn't related to the Bitcoinica hack. The hack just makes the choices obvious and straightforward.

I, Zhou Tong (Zhou is my surname), will discontinue all involvement in Bitcoin-related projects after the Bitcoinica incident has been fully resolved until further notice.

I always believe in Bitcoin, or simply anything that brings people financial liberty. I have heavily invested in Bitcoin (I purchased one 1,000 BTC gold coin from Casascius and will keep it for as long as I can). And I have enjoyed what I have done for the Bitcoin community.

Really, thank you for all the wonderful support. It feels great to have an experimental project become the "best thing since sliced bread", and run one of the most profitable businesses in a new economy. Bitcoinica has a total historical revenue equivalent to about 0.67% of the whole Bitcoin economy. Not even Apple can match this record in the real world economies.

The first time I read about Bitcoin was in late 2010. My first reaction was "these coins are cheap, maybe it just doesn't work". I learned about Bitcoin again in mid 2011, when the first bubble started. I bought my first Bitcoin when it fell to $8. I told all my close friends and classmates about Bitcoin, simply because I think it's a cool idea. The idea of a margin trading platform quickly went into my mind, and I started working on Bitcoinica.

I lied about the time it took to build Bitcoinica. (I said I spent one week on it.) I started on September 4, 2011 and launched on September 9, 2011. Just four and half days. In a week, trading volume passed one million dollars. I started making profits like crazy.

In November, an investor approached me to acquire Bitcoinica. Due to regulatory concerns, I agreed to the deal and signed the agreement. Bitcoinica was sold for a good price. However, since the investor is unable to arrange for a replacement team, I continued to become the sole operator until Team Intersango took over two weeks ago. The investor let me keep all profits until late January, the official handover time. After handover, he continued to offer generous salary and performance bonus every month. The investor demands his identity to be protected so I won't share more information on this.

I left school in Singapore and decided to continue my education in Australia. I made the decision because of the Internet industry, and the hacker culture. I'm a web developer and I want to become a really good one. I want to work with smart hackers and wonderful designers to change the world. Singapore isn't particularly good at this. (Obviously, US West Coast should be a better choice, but for some other reasons I didn't consider US.)

I have started working on another project (not Bitcoin-related) that is going to make a little difference on the Internet. So far I have achieved great progress and I'm pretty confident about this new venture.

My life hasn't changed much except that I became more confident after Bitcoinica's success. I realized that I have the power to make something profitable. Such kind of confidence is extremely hard to get, until you really experience a significant success. I worked on several projects before, and all of them failed eventually. I thought I was confident because I kept building new stuff and improving myself. But the real confidence comes from the success itself.

I failed at one thing though, that is generating value for the society. Bitcoinica did create a place for people to trade more efficiently and provide liquidity to the market. However, speculation is a zero-sum game (or negative-sum, strictly saying). I know there can be many justifications for Bitcoinica's value, but all of them are against my intuition and values.

With the confidence and the innate intuition to build wonderful things for a better world, I decided to move on. I didn't quit Bitcoinica because it's the only source of income that I currently have.

I know that my time is valuable and industry establishment is really important. I don't want my name to be remembered by only Bitcoiners. It's true that I believe in Bitcoin's potential, but not everyone believes. If I'm a influential person I wouldn't have to do this, but the best way to be known in the Internet industry is to build products that save people time, money and headaches.

I'm going to be a young entrepreneur that solves problems for everyone. I leave Bitcoin only because it doesn't help address my real needs. Making money isn't that important after all.

I'll be a Bitcoin lover forever, and I will come back to this forum regularly to discuss about the future that's in our own hands! I will keep the 1,000 BTC  gold coin as a lifetime investment and I'm pretty confident that it'll be the best investment ever in my life.

Bitcoin FTW!

Its a great effort of yours. Really an inspiring story. We wish you best of luck. Great work and investment.

[Nomad88]

This is really motivating story. I wish you the best mate.

[Ted E. Bare]

Here's a recent interview with Zhou Tong himself on Bitcoinica and the hack:
https://www.youtube.com/watch?v=6k-eKLatmNI

[socks435]

If you leaving in bitcoin you will regret soon since the price of bitcoin is keep on rising you will be regret while those who are believers with bitcoin are keep earnings and rich.. since we are gradually increasing i think better to stay holding bitcoin or buy more bitcoin every time you get your salary in your job to have more profit in the future..

[molecular]

If you leaving in bitcoin you will regret soon since the price of bitcoin is keep on rising you will be regret while those who are believers with bitcoin are keep earnings and rich.. since we are gradually increasing i think better to stay holding bitcoin or buy more bitcoin every time you get your salary in your job to have more profit in the future..

dude, zhou tong (the guy that opened this thread) has a 1000 BTC casascius coin (see video linked 2 posts above). He developed and ran the first bitcoin trading platform that offered leveraged trading (an shorting for the first time) from 2011.

Many got zhoutonged when that exchange got hacked... and hacked again.

Zhou Tongs reputation got hurt badly because some suspected he was part of the hack (the platform had just being sold) and although he says otherwise, I believe that's the reason why he "left bitcoin".

Doesn't mean he sold his stash.

[Ashong Salonga]

If you leaving in bitcoin you will regret soon since the price of bitcoin is keep on rising you will be regret while those who are believers with bitcoin are keep earnings and rich.. since we are gradually increasing i think better to stay holding bitcoin or buy more bitcoin every time you get your salary in your job to have more profit in the future..

Yes I agree woth that. I see the potential of bitcoin to be the most popular mode of payment online replacing USD.
And regarding on the security of account against malware or hackers, better to save your bitcoins in different wallet so that hackers can not hack all of your savings and it gives lest risk.

[molecular]

If you leaving in bitcoin you will regret soon since the price of bitcoin is keep on rising you will be regret while those who are believers with bitcoin are keep earnings and rich.. since we are gradually increasing i think better to stay holding bitcoin or buy more bitcoin every time you get your salary in your job to have more profit in the future..

Yes I agree woth that. I see the potential of bitcoin to be the most popular mode of payment online replacing USD.
And regarding on the security of account against malware or hackers, better to save your bitcoins in different wallet so that hackers can not hack all of your savings and it gives lest risk.

or get a hardware wallet and sleep well

[Positid]

If you leaving in bitcoin you will regret soon since the price of bitcoin is keep on rising you will be regret while those who are believers with bitcoin are keep earnings and rich.. since we are gradually increasing i think better to stay holding bitcoin or buy more bitcoin every time you get your salary in your job to have more profit in the future..

Yes I agree woth that. I see the potential of bitcoin to be the most popular mode of payment online replacing USD.
And regarding on the security of account against malware or hackers, better to save your bitcoins in different wallet so that hackers can not hack all of your savings and it gives lest risk.

or get a hardware wallet and sleep well

I guess it's better to learn from mistakes and not leave bitcoin just because of some wallet issues, in overall bitocin is really good as investment and currency but with negligence our money will really be at risk, it's our control then but we can improve it if we learn.

[nasipadang]

you had been instrumental in bitcoin if you leave bitcoin there will probably be little change

[hawkins]

leaving bitcoin for now for the sake of it is not clear just going to make you lose. bitcoin price increases, if you're not taking the time to search for and collect bitcoin, maybe you'll be sorry when the price of bitcoin rise to the price of $ 1,000. well, probably better if you're still looking for bitcoin in the free time you have.

[rajasumi2]

All best of luck for the future .sometimes bad lucks surrounds us and we are in a dilemmma.hope it does not happen again with someone.

[dihari]

Honestly, I don't know who is this guy. But as I see here, all legendaries account is out and give him "a good luck" post.
It's mean he is an important person in bitcoin development.
Well, good luck Zhou. Wish you have more good experience in your life.

[qiwoman2]

Well we hope you don't leave bitcoin forever and come back to the btc community and let us know how you are progressing in your other fields of choice but it is your decision and your decision alone to take and must be rested. Good luck in all that you do in the future and may it be a bright one for you too!

[OrangeII]

Well we hope you don't leave bitcoin forever and come back to the btc community and let us know how you are progressing in your other fields of choice but it is your decision and your decision alone to take and must be rested. Good luck in all that you do in the future and may it be a bright one for you too!

You're right, I also hope that you do not leave bitcoin forever, and will be back someday. in fact, you're probably going to regret leaving bitcoin for now, because this might be a good time to collect bitcoin, because when the price of bitcoin has been rising, and you're back, I'm sure, you'll regret it. but, good luck.

[1Referee]

Well we hope you don't leave bitcoin forever and come back to the btc community and let us know how you are progressing in your other fields of choice but it is your decision and your decision alone to take and must be rested. Good luck in all that you do in the future and may it be a bright one for you too!

If you took the effort to just click on his name and see his stats, then you could see that he was online in October of this year. His last post dates back to 2013, but he has negative rep from 2 people that are well known here. Looks like his reason to "leave" the Bitcoin world might be different than what he want others to believe....

leaving bitcoin for now for the sake of it is not clear just going to make you lose. bitcoin price increases, if you're not taking the time to search for and collect bitcoin, maybe you'll be sorry when the price of bitcoin rise to the price of $ 1,000. well, probably better if you're still looking for bitcoin in the free time you have.

You clearly didn't read the OP....

I'll be a Bitcoin lover forever, and I will come back to this forum regularly to discuss about the future that's in our own hands! I will keep the 1,000 BTC  gold coin as a lifetime investment and I'm pretty confident that it'll be the best investment ever in my life.

Bitcoin FTW!

[Liang_Kubur]

Yes someday I will leave, because no one is immortal and the best, we think now is the best, but 10 years or more there must be a better replacement. just like mobile phone, vehicle, which is sure to have the time. We must ready for it.

[skyway1]

you are the one that you are leaving bitcoin there is a lot of people are joining bitcoin day by day and investing their money in huge amount in bitcoin because bitcoin increasing its price to higher value and bitcoin is very much profitable currency and people getting profit from bitcoin in big amount.