I'm leaving Bitcoin

[developno1]

If I could have stories like you, I think I would never be leaving bitcoin because I could still manage to do it even if I was a busy person. For me you should not leave bitcoin, if you invest in bitcoin now it is definitely worth losing because the price of the BTC is down right now. You know the need for patience and time is needed before achieving success

[1714837811]

1714837811

[hacsoi2799]

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 tried your best for bitcoin, you created the bitcoin value. You have intense love with bitcoin. You have done so well, hope the Lord will bless you.

[Gyrsur]

guys, he did not really leaves Bitcoin. it's more a constant being under the radar with at least a 1000 BTC gold bar.






picture from 2015 on his twitter account --> https://twitter.com/zhoutong

[meritbygrace]

there's no reason to leave bitcoin.when ever you see or notice thing are working alright ...please, do ask why! any road most be up and down. This is the time for shake only those who are feet can stand it. NEVER LEAVE BTC

[abdemtar]

there's no reason to leave bitcoin.when ever you see or notice thing are working alright ...please, do ask why! any road most be up and down. This is the time for shake only those who are feet can stand it. NEVER LEAVE BTC

Some people just can't take the high and lows. I say just long everything you have and hope for the best. GLGL me.

[Surge_Dev]

i think that you shouldn't leave btc as this is the most profitable investment  as experts say. they predict having it for the long-term. You will be glad to get profit after sticking to the holding strategy

[A7373]

What does it mean "Gold bar" its just a joke or really some type of wallet? Like trezor or ledger?

[Skieleton]

you did great work on bitcoinica. Im glad it worked for you and you got some money to help with your life and other ventures.

Your example is perfect. It shows how good BTC can be for the development of the economy. BTC is a great way to make payments between companies.

[BitGunner]

Thanks for sharing interesting information but as for me it is better to have btc for the long-term hold, to my mind this is how you will earn much more than trading every day. I am not going to leave it now

[avoxosuccesful]

i think almost everybody has got where its always best and easy for them to actually move their life to the next level, because a particullar job,or paycheck does not favor you does not mean their ain't no other. i love working as a blockchain technologist and a bitcoin exchanger. @list you found out early u weren't fit it,its not that big a deal tho

[swaggerkeme]

Bitcoin has a great future, it is always good to always discuss important issues like this to promote the growth of bitcoin and blockchain technology.

[jumail]

Good luck.
Many people have left BTC during this time, they lose confidence when the market goes down.

We should not give up. The decline in cryptocurrency prices is reasonable, it's a kind of cycle, we just need to be patient until the price bounces again. We should understand the basics of cryptocurrency so that it is not easy to give up and is not easily affected by FUD or other negative news.

[jamisky]

The current price and market trends of bitcoin does not speak about the potential of bitcoin.  Bitcoin and some other altcoins are here to stay because they ll have massive impacts on the global economy in the future

[MommyElsa]

I will not leave btc right now.  I want to earn for the better.  I believe with the btc capabilities in the future.  So i am working too much to gain even if the market is not that good.

[42K]

I don't think it will be right decision to leave BTC. I want to know what you will join after leaving btc because I don't think there is any coin more like btc out there.

[Dirk2017]

I don't think it will be right decision to leave BTC. I want to know what you will join after leaving btc because I don't think there is any coin more like btc out there.

Well its a big loss for you to hear that you're leaving bitcoin. Bitcoin is falling down deeply then you decided to leave? Its not a good decision, you better put your bitcoin and hodl it wait for it to rise.

[Shiversnow]

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!

I know its hard but I know that you are just making the right decision for yourself. Its nice that you share this kind of info. We cant force you to stay because its your choice and you know that it will make you better. You tried your best , goodluck.

[takihaha]

I will not leave Bitcoin, it is a good market, not simple for you to control, me and others I never quit her because she by bitcoin have more money and bitcoin than if you Want her to do it if you want but when you come back

[$9million]

Bitcoin has its ups and downs but in all things, it manages to curb the fluctuations somehow.  That's what it is in cryptocurrency. But that doesn't call for leaving.  Why are you leaving at all?  Just put it at the back of your mind that in cryptocurrency there are losses as well as gains and focus on what you want to invest.

[cruz06]

No. Please dont leave bitcoin. I know that you are very tired of using it and Ilyou think that it is time to move on and leave bitcoin. But that is not the answer. Many people wish to have and use bitcoin but they cant. Leaving bitcoin is one of the worst idea you will ever make.