Is it the beginning of the end for Bitcoin? Virtual currency in turmoil as rumoured $375m theft

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  • DVTimes
    xxx
    • Jun 2003
    • 31658
    #1

    Is it the beginning of the end for Bitcoin? Virtual currency in turmoil as rumoured $375m theft

    The credibility of Bitcoin has been dealt a serious blow after a suspected theft of $375m of the virtual currency closed one of the major exchanges through which it is traded.

    The website of Tokyo-based Mt.Gox - which allows Bitcoin to be traded for US dollars - was shut down today after it had already halted cash withdrawals in the wake of rumours that hackers had managed to steal 745,000 Bitcoin.

    The crisis at Mt.Gox will raise questions over the future of Bitcoin, which had surged in value last year and attracted the global attention of mainstream businesses and investors.




    http://www.dailymail.co.uk/money/new...-exchange.html
    XXX
    Tags: None
    • Clark
      Confirmed User
      • Feb 2003
      • 334
      #2
      I doubt it. There's too much VC and investment in related services now, too many interested parties. It definitely doesn't help the race to get it into more lay people hands though which is the critical step for bitcoin.

      It will probably just temper expectation and news coverage until the next run up in price then everyone will get all excited again.
      The 2 rules for success:
      1. Never reveal everything you know
      2.

        Comment

        • DWB
          Registered User
          • Jul 2003
          • 31779
          #3
          I'll ask WeHatePorn and report back to you.

            Comment

            • dyna mo
              just a fucking jerk
              • Dec 2008
              • 68184
              #4
              That's like saying the Brinks gold theft was the beginning of the end of gold.

                Comment

                • brassmonkey
                  Pay It Forward
                  • Sep 2005
                  • 77397
                  #5
                  Originally posted by dyna mo
                  That's like saying the Brinks gold theft was the beginning of the end of gold.
                  people hated on paypal when they first came out
                  TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
                  DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

                    Comment

                    • DamianJ
                      Too lazy to set a custom title
                      • Jul 2006
                      • 15808
                      #6


                      Does that look like a man who understands crypto currencies?

                        Comment

                        • edgeprod
                          Permanently Gone
                          • Mar 2004
                          • 10019
                          #7
                          Hahaha, this is almost as funny as it is stupid. "Major" exchange, bah hahaha.

                            Comment

                            • PR_Glen
                              Confirmed User
                              • Oct 2006
                              • 9058
                              #8
                              Originally posted by dyna mo
                              That's like saying the Brinks gold theft was the beginning of the end of gold.
                              I'll agree with you that its probably not going anywhere any time soon but lets not go comparing it to gold now, that is just ridiculous.
                              webmaster at pimproll dot com

                                Comment

                                • - Jesus Christ -
                                  Confirmed User
                                  • Mar 2003
                                  • 7197
                                  #9
                                  Originally posted by PR_Glen
                                  I'll agree with you that its probably not going anywhere any time soon but lets not go comparing it to gold now, that is just ridiculous.
                                  Agreed.

                                  Cryptocurrencies are far better than gold and the comparison is quite ridiculous.

                                  Amen

                                    Comment

                                    • dyna mo
                                      just a fucking jerk
                                      • Dec 2008
                                      • 68184
                                      #10
                                      Originally posted by PR_Glen
                                      I'll agree with you that its probably not going anywhere any time soon but lets not go comparing it to gold now, that is just ridiculous.
                                      I didn't compare it to gold. I compared the event of what happened to gox to the event of what happened to brinks.

                                        Comment

                                        • JFK
                                          FUBAR the ORIGINATOR
                                          • Jan 2002
                                          • 67373
                                          #11
                                          Originally posted by - Jesus Christ -
                                          Agreed.

                                          Cryptocurrencies are far better than gold and the comparison is quite ridiculous.
                                          yeah , right, ok

                                          FUBAR Webmasters - The FUBAR Times - FUBAR Webmasters Mobile - FUBARTV.XXX
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                                            Comment

                                            • NEW XTC
                                              Confirmed User
                                              • Jun 2010
                                              • 738
                                              #12
                                              I understand why the naysayers who missed out on the crypto paradigm are so gleeful when there is a glitch (gox isn't actually a real glitch) so many post were flying about "imaginary currency" "Bitcoin Ponzi" etc...I feel your pain guys, it's sucks to be so so SO wrong about something so important..especially when you are supposedly in the Internet Biz.

                                              But just as I suspected - Gox going down looks to be barely a speed bump - not even the big crash (buy opp) I was hoping for. Damn.
                                              Those who can make you believe absurdities can make you commit atrocities.

                                              -Voltaire

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