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Can I be blunt? It's their own goddamned fault. I get that MtGox made a lot of obviously severe errors in implementation. But I'm also aware that popular wisdo
by matthewmacleod 13y ago
Can I be blunt? It's their own goddamned fault.
I get that MtGox made a lot of obviously severe errors in implementation. But I'm also aware that popular wisdom has been (for some time) to avoid it. And further, it should be immediately obvious to anybody with a shred of sense that you do not hand over piles of cash (which is the closest approximation to Bitcoin) to an unregulated, opaque private enterprise.
Yeah, it sucks for the people who lost money. But with the exception of a minority, they were obviously dabbling with things they did not understand.
Nothing about this speaks at all to the long-term viability of Bitcoin as a currency. In fact, I think it'll probably be a benefit in the long-term - there needed to be a large, damaging demonstration of the requirement for security, and this event will cause a lot of changes.