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Author Topic: I'm leaving Bitcoin  (Read 56456 times)
p4npos
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June 22, 2018, 04:14:11 PM
 #261

I have read your post. I am sad to see you leave Bitcoin. It is my utter request to review your decision. Bitcoin has the potential to change your life. Bad inidents happen in every business models. You do not have to lose heart on one of them.
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June 24, 2018, 05:42:28 PM
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 #262

I think very few people understood what this man wanted to say. at that time, he did not see the real application of bitcoin, and now to see the value in it again, he must bear the benefit. it's like Nikola Tesla, who developed ideas in his time. So here, just need time to these ideas have found application
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June 24, 2018, 05:48:31 PM
 #263

the more important thing than money is to know what do you want and where you belong and my friend I am glad that you seem that have found it, I hope  that you will have also success in whatever you decide to do.
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June 24, 2018, 05:50:11 PM
 #264

Good luck man. Wish you best of luck and hope one day you will be back with us Wink
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June 24, 2018, 05:54:56 PM
 #265

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!
You deserve to take a rest after all the hard work you had poured to reach many achievements. Just hold those bitcoins and I am pretty sure it will pump again. I am also truly amazed by your story but I cannot agree that making money is not that important. Nonetheless, you have already contributed a huge piece in this community and its time for you to do other things.
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June 24, 2018, 06:54:23 PM
 #266

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.

At the time it may be because bitcoin's not yet widely known and not so precious in the eye of the world, but now maybe you will smile with your 1000 BTC amount, I think it's very possible to meet your family's needs, even though we know "every human never felt enough with what he already has".
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June 25, 2018, 02:21:45 AM
 #267

you are a wise man to have realized these things sooner rather than later, and you have earned my respect. You're certainly making the right choice and I've been repeatedly impressed both by your ability to deliver and your values.
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June 25, 2018, 04:49:43 AM
 #268

I'm going to leave Bitcoin Bitcoin is a business that operates in a few countries of the world, Bitcoin is not an affiliate business, there can be danger at any time, so to think about the management plan, Bitcoin is not allowed in all countries, and Bitcoin is working illegally in all countries. People may be able to revolt in the forearm, and then we can get rid of bitcoins.l going to back.
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June 25, 2018, 04:54:50 AM
 #269

Those who invested in Bitcoin until 2016-2017 still managed to earn. Now the situation on kriptornke is not simple enough and bitcoin with every passing day loses confidence falling all below and below. But personally it seems to me that the time is right now for his purchase.
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June 25, 2018, 05:09:17 AM
 #270

leaving bitcoin its a bad idea because value of bitcoin will be up and growth.
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June 25, 2018, 05:41:27 AM
 #271

Obviously you will be well aware that there are fun, challenging problems to be solved with Bitcoin. Not all of which are zero-sum. In the past year your work has made the Bitcoin scene more interesting, more unpredictable, more vibrant. You've had one hell of a crash course in entrepreneurship. I look forward to seeing your name on Fast Company's "Most Creative People",  or TIME magazine's 100 list in some number of years. Best of luck. See you around.
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June 25, 2018, 05:44:12 AM
 #272

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!
Good luck for you man. You are very lucky because you own much number of bitcoin. I always do everything online for I can support my kids, I give much of my time and effort in doing bounty and signature campaigns but until now I have not own at least 1 bitcoin, but I am still happy at least I have earned for what I have done.
You are free to make your own choice and it's up to you what it is gonna be. You just have to be firm and stand whatever the result may be. If you really want to leave bitcoin then you must do it without hesitation. We may have a different perspective but I will support you no matter what just do what you want.
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June 25, 2018, 05:47:25 AM
 #273

I wish you best luck.
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June 25, 2018, 05:59:03 AM
 #274

You works for Bitcoin industry is truly an inspiration for all crypto enthusiasts. May you find joy and fulfillment in your new endeavor. Wish you all the best and God bless!
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June 26, 2018, 03:39:43 AM
 #275


You will regret as bitcoin prices continue to rise, you will regret it while those who trust with bitcoin still keep their income and riches .. as we are increasing, I think it is better to keep bitcoin or Buy bitcoin every time you get a paycheck at work
If you do not take the time to find and collect bitcoin, you may be sorry to see the bitcoin rise to $ 1,000.
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June 26, 2018, 03:59:15 AM
 #276

I truly respect you man! you did a great job!  I wish you good lucj on the new jurney and new ventures that you will pursue in your life, always remember that you change alot of peoples lives including mine so again I want to thank you for that.

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June 26, 2018, 04:31:44 AM
 #277


You will regret as bitcoin prices continue to rise, you will regret it while those who trust with bitcoin still keep their income and riches .. as we are increasing, I think it is better to keep bitcoin or Buy bitcoin every time you get a paycheck at work
If you do not take the time to find and collect bitcoin, you may be sorry to see the bitcoin rise to $ 1,000.

I agree with you. better not to leave bitcoin because it can go up again its price. This profession is better we make a side job and we also have the main job because we have to look like ordinary people make money. And if we have two jobs at once, we will be fulfilled everyday needs.
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June 26, 2018, 04:38:36 AM
 #278

Then it is true that there is a time for everything...a time to start and a time to finish it...a time to work and a time to rest.. and maybe for you it is time for something new what you just accomplish is quite amazing and what you say also gives everyone a reflection and an inspiration...bitcoin did an amazing job to you and vice versa.

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June 26, 2018, 04:41:05 AM
 #279

Nice.. goodluck for you. I hope you will become successful in life. More power and god bless.
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June 26, 2018, 04:45:20 AM
 #280

Then it is true that there is a time for everything...a time to start and a time to finish it...a time to work and a time to rest.. and maybe for you it is time for something new what you just accomplish is quite amazing and what you say also gives everyone a reflection and an inspiration...bitcoin did an amazing job to you and vice versa.

I think we dont need to leave bitcoin if we have other priorities we can still do invest in bitcoin for long term so are not bother by market fluctuation and it is beneficial also if the market will rise in the future.
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