I'm leaving Bitcoin

[insurgent]

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!

We decide the thing we think is the best for us. I know that you have some sweet and bitter experience with bitcoin but take it as a lesson. Its your choice and decision, We cant blame you if you do it. but I hope you enjoy some moments with bitcoin. Maybe the situation of bitcoin now is not that good lets be patient and wait until bitcoin already recover.

[muneeb.zain]

Leaving bitcoin at this time is not the appropriate decision because your investment is in there the money of your hard work and struggle and in loss and you have not earn yet how much you have invested so just wait once you make your investment back then leave it.Now stay calm and wait for the right time to come.

[abhi777]

You did a great work man
Good luck for retiring.

in my opinion, you don't need to leave bitcoin. because bitcoin can change a person's economic needs suddenly. but it depends on how we are to manage it. maybe you experience hard work and loss in investing, but you must always wait patiently for the right time for you to make that decision.

[Belliapro]

I am not too worried about the impact for the long term because I am a fast thinker, there are things that are still positive in crypto that can still make a profit in the next few years, whatever happens, at least I have tried my best, the world cares about blockchain and automatically they can't separate it from bitcoin. very useless if you leave bitcoin for now.

[dominional]

 that is not the solution to bitcoin or to oneself because market can be funny at any fucking because market cannot be stable if it is stable it is not market again bitcoin is just passing through her tough time and it will soon be over

[killerfrost]

I think you left the bitcoin as a wrong choice silk. Bitcoin is booming. bitcoin price will reach 50000 by the end of this year. I recommend staying in bitcoin. Bitcoin will help you succeed.

[FilipZ]

You have done a lot for BTC. I personally understand why you are doing what you are doing and of course respect your choice but personally. If I was you, I would stay and wouldn´t give up. Much respect to you Zhou. True legend in the BTC community. Much luck, love and respect to you.  

[bp124]

Great job mate...that is a wonderful success story and i wish the very best in your new adventure and don't forget to let this community know of your new innovation that you are working on k.

[orarider]

I urge you to think again. Bitcoin is electronic currency has the greatest value today. Bitcoin price remains at a high level. The market is recovering back and can increase in the coming time. So you should stay with bitcoin.

[iyanu24]

leaving Bitcoin now is not a right decision,,because any moment from now the prices of Bitcoin will merge and comes back to its state

[Carol Jones1]

If you are I suggest you looking into AML BitCoin. The value of the AML Bitcoin is not determined by any government. Therefore, if any economic or financial instability occurs, AML Bitcoin users are not affected.

[Jaemouns]

You did a lot for Bitcoin man. I wish you best

Youre leaving bitcoin? Comme on dude ! I guess its the worst decision you have ever made in your life . Bitcoin is the best then why you are leaving ? Think of it a several times before you decide.

[Larva14]

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!

If you are leaving for your own good then goodluck, you did a very well job. Its kinda sad and its probably the worst decision you will made. Keep the sweet and bitter experience from bitcoin.

[gulshan1]

A person who will leave the bitcoin now and will not accept in future then it means he is missing a big opportunity of the to make huge money and that will be the biggest loss in the life forever. So please wait for some more time and enjoy the whole life.

[CryptocitySL]

You do not need to do that. I mean, you're irritated. Do not worry. Think of yourself. Is every person successful? And has he always made progress? Not at all. If you have any regrets, you need to find answers to your problem. I'm not saying that you will not be bitcoin enough to leave behind bitcoin. Do not be stupid. Think of wonders. There is a drawback for any person and coin. It will return to the right hands with time. Join bitcoin and help with bitcoin.

[Cryptomania843]

What a beautiful story. Compliment for who you are and what you brought to the world of cryptos. In your quest to do good I wish you luck and I hope that you will be happy in what you will do. Thank you for showing us that money is not the most important. Good luck!

[Sword555]

That was an exciting story I have read in one breath, you have made a great progress and you are still young, so the only thing I can surely say is just thank you, best regards!

[bigboyd]

Why do you decide so? You are looking forward to quick success. Do not expect a little bit of bitcoin in your progress. Because this coin is the best for a long-term profit. If you leave bitcoin like this, the same bitcoin will disappear from us. Because this coin depends on the non-interest, demand, and investment of the coin. I live with bitcoin everyday. Never leave the bitcoin. Bitcoin will turn into your turning point. Wait patiently.

[Utitinonire]

One day they will get connected again and forget the past. Therefore, I suggest you to think again. Bit coin may not be the issue in your life. You may think that this is one but it’s not. So, give yourself a break and start again.

[Prissrussmcc]

If you are leaving it means you not a great believer of cryptocurrency