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I still cannot believe anyone has any "real" money tied up in something like MtGox. Disturbing, stunning.

• waterlesscloud 13y ago
  In other news that may also surprise you, there are people who put millions of dollars into companies that don't even have working products yet.
  • rayiner 13y ago
    A great example of the difference between investment and speculation. Pouring money into a company without a product helps fund development of that product.
    • waterlesscloud 13y ago
      People buying shares on a secondary market aren't really helping fund product development, at least not in any direct way. But you'll still see folks putting large sums of money into something like a small biotech company that doesn't have a working product yet. It's speculation, of course, but that's the point. People speculate all the time, some of them with large sums of money. Shouldn't be surprising news.
  • killerpopiller 13y ago
    I'm one of those dummies stucking with mtgox (BTC frozen, € still "on it's way" home). It eases the pain, to be part of it. This wild west will disappear, but there has to be beginning. I believe in freedom and the banking system isn't. It isn't stabilizing our economy, it furthers a cleptocracy and destabilizes the system. Banksters even get premiums for that and when they fail, a bailout, just to take their premiums from there. That makes such woes some sort of contribution towards a better economy.