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This is a really sad moment but let's hope it teaches everybody lessons. One very nice thing about cryptocurrencies is that they can be kept safe in cold storag
by chm 13y ago
This is a really sad moment but let's hope it teaches everybody lessons. One very nice thing about cryptocurrencies is that they can be kept safe in cold storage without too much trouble. Some people kept all their coins there. It's a shame, but too bad.
Otherwise, I really hope Gox dies, in a darwinian business sense. Forest fires destroy big trees but makes way for new shoots.
- sneak 13y agoYeah, lessons are what people need. http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/cfo57gh http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s... "But too bad."
- chm 13y agoI stupidly had my life's savings in bitcoin, and when the price started to fall, I converted to dollars and watched the price plummet. I lost $357,000. As I said, this is a sad moment for him. My point still stands: it was a very naïve and borderline criminally stupid thing to do. I feel bad for the guy because he didn't make Mt. Gox crash, but then he could win the equivalent of a Darwin Award in finance. Harsh words, but you can't reason yourself out of such a bad decision as that he made. He should have used cold storage, period.
- bostonpete 13y agoI thought big trees generally fared the best in forest fires...
- talmand 13y agoFor some trees the fire causes the big trees to open their cones so that new trees may grow after the fire has run its course. Sometimes nature has interesting emergency backup systems.
- wikwocket 13y agoHopefully one of the lessons people learn is, "If it looks too good to be true, it is." I had to learn this lesson through a very painful and costly process, and while I would not wish such learning on anyone, I feel it is a very important lesson to have learned.