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Thread: Mt gox bitcoin exchange is bankrupt. 850,000 bitcoins lost.

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  1. #11
    Xtreme 3D Team
    Join Date
    Jan 2009
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    Quote Originally Posted by K404 View Post
    Why were people putting their entire livlihood into a digital currency, some of whom no doubt paid little attention to the finer details? It's no better than investing heavily into the stock market. NEVER put all your eggs in one basket and never count the chickens before they hatch. Yea, they've lost out on the cost of electricity, at least the hardware can be sold on or re-purposed.
    Bitcoin mining hardware can't be sold on or re-purposed. All the ASIC designs do is an SHA-256 hashing function.

    Quote Originally Posted by [XC] Lead Head View Post
    Uh huh. So I deserved to loose the BTC I had in Mt. Gox because I'm a long-time-span BTC trader, and only made a trade every few weeks/months when the market had dramatic changes? Sorry I don't have the time to constantly troll the bitcoin forums.
    Not saying you "deserved to lose" them, but I was under the impression that only idiots used Mt. Gox or kept a majority of their coins in an exchange platform. (Not saying you're an idiot personally...)
    If you only made a trade every few weeks/months then you should have had your coins in cold wallet, not an exchange. A USB drive would have worked well for you.
    Last edited by BeepBeep2; 03-01-2014 at 07:52 PM.
    Smile

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