Quote:
Originally Posted by dyna mo
I don't always agree with NEW XTC's opinions on everything but he is certainly aware of the facts re: bitcoins and how mtgox operated.
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The only people who really know how Mt Gox operated are Mt Gox, it's all open to speculation on whether it was incompetence or fraud. We'll probably never know
It's staggering the sheer scale of the damage this has done to the image of Bitcoin and the effect it'll have on traders trusting other exchanges.
I don't understand how anyone could have the viewpoint below and think it's a positive thing for Bitcoin.
Quote:
Originally Posted by NEW XTC
I've been rooting for the demise of Gox for a long time
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I think this point stands out from the leaked
Mt Gox Crisis Strategy Draft
Quote:
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The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company. However, with Bitcoin/crypto just recently gaining acceptance in the public eye, the likely damage in public perception to this class of technology could put it back 5~10 years, and cause governments to react swiftly and harshly. At the risk of appearing hyperbolic, this could be the end of Bitcoin, at least for most of the public
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I think most of what is quoted is total bullshit but how governments react to the Mt Gox fiasco could well be significant and I'm sure we'll find out in the next few months.
Mt Gox demise is bad news for everyone involved in Bitcoin