Post
Topic
Board Bitcoin Discussion
Re: People actually thought bitcoin was dead because of MtGox?
by
Dafar
on 26/02/2014, 16:30:39 UTC
Big exchange like Gox falling down is a big thing. 744,000 BTC stolen is also a very big thing. Who says this can't happen again with one of the other big exchanges?

Well people need to at least do some due diligence before investing into crypto. This is not a regulated market and the exchanges do not provide you insurance so of course shit like this can happen. You have to secure your own bitcoin at this point in time, leaving it in an exchange that takes weeks to months for withdrawals is not a good idea at all.

So this whole GOX shenanigans did not scare me in the least bit in regards to bitcoin's future... this is just a small bump on the road, much smaller than the news about China banning payment companies from processing funds to bitcoin exchanges. I'm still not bullish about bitcoin's price in 2014 due to all the setbacks, but this GOX issue is nothing (unless you lost your coins in GOX.. im sorry if you did)

I cannot believe people, even the idiots on reddit, are blowing this out of proportion and thinking this is the end of bitcoin.


When people think of bitcoin (if they don't do research or know well enough), they think of mtgox.

When I got into bitcoin I've never heard of MtGox, and why should I? It's a crap exchange not even based off the US. Coinbase makes it much easier for us