Post
Topic
Board Bitcoin Discussion
Re: [FORBES] The Bitcoin Crash - New Article, Forbes Claim is Doom
by
the founder
on 08/08/2011, 13:04:18 UTC
the problem is the article is partially correct.  

If we continue down this path of stealing, hacking and robbing each other regarding bitcoins,  it WILL fail.    I spent large amounts of money building flexcoin... I'm betting big that we'll be okay....   but in order for that to happen there cannot be another "150,000 coins stolen / robbed " every 10 minutes....  

think about it.

1 - dude saw 25,000 coins vanish from his desktop
2 - Goxed
3 - polish exchange 17,000 coins
4 - mybitcoin 150,000 coins
---- this list goes on....

I understand hackers...  but what's happening with most of those cases isn't hackers...  it's criminals and thieves...  that's not the same thing...   not even close.

hacking always meant (at least when I grew up) to try to break something... just to see if you can....   and if it turns out to be a security flaw you told the developer before publishing it.  

This?  These are people that steal bitcoins and in essence destroying what they are stealing,  hence they are idiots.

Picture this...  a company builds a program that secures stock transactions on NASDAQ and is listed on the said exchange....   hackers target the company,  and hack their software where they "steal a bunch of shares of it" ... then the criminals try to dump it as everyone else is because their "secure" software isn't so secure.

In a nutshell,  each time they are stealing it it's destroying the very nature of what makes it appealing...  hence destroying it's value.

It's my feeling that these people are not actually motivated by money...  they have a goal.. and that includes destroying bitcoins.