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Anyone else getting the sense that a lot of people on HN have a large investment in MtGox? Not usually this much nay-saying (denial?) on here.
by catmanjan 13y ago
Anyone else getting the sense that a lot of people on HN have a large investment in MtGox?
Not usually this much nay-saying (denial?) on here.
- minimaxir 13y agoA lot of people everywhere have a large investment in MtGox.
- notacoward 13y agoUm, no. The vast majority of people even among wealthy/high-tech countries have absolutely nothing to do with MtGox, and people in the rest of the world are even more distant from it. It might loom large on the horizon for you and for a significant percentage of HN users, but let's not completely lose perspective here.
- erichurkman 13y agoIf the other post is to believed, they have around 740,000 BTC. There are roughly 12,400,000 coins total at the moment. That pegs Mt. Gox's share at 6%.
- zanny 13y agoI'm sure a lot more than 6% of all total bitcoins are lost to dead wallets and such already, though. Only drives up the scarcity of the rest of em. I highly doubt Gox's coins are "gone" though. Someone has those wallets and almost certainly is going to make a pretty penny fucking over the customer base, but caveat emptor.
- catmanjan 13y agoI think only a select few people in a select few first world countries have any investment at all in MtGox.
- colinbartlett 13y agoMt. Gox might have held 6% of the total BTC supply. According to a quick search, the total M2 money supply of USD is $11,011.5 Billion and the largest US bank is Chase with $2.3 Trillion in assets (4%). So this is as newsworthy to those interested in Bitcoin as the failure of a bank 50% larger than the largest US bank would be to those interested in USD.