-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 On 02/25/2014 02:22 PM, Lodewijk andré de la porte wrote: > 2014-02-25 19:22 GMT+01:00 The Doctor <[email protected]>: > >> >> Why would somebody trust a centralized entity that interfaces >> with a decentralized system that deals with something people >> perceive as valuable? "Hey! I'd rather work with a central >> point of failure!" >> >> I don't get it. >> > > > I'd rather trust people that'd hang if they fail to secure a system > than my PC which is guaranteed to be replaced if it fails within 2 > years, insured against fire, etc. (And is guaranteed to fail) > > I did place coin elsewhere, luckily. But my trust in Mtgox was > quite large. Mostly because of their combination of high fees and > high volume. When I joined it was "If gox goes bust, everyone goes > bust". Now it's not totally clear. > > I hope others step in and buy mtgox. It'd net them the old > customerbase. It'd make everyone feel much safer on other > exchanges, even though they might not be. It's a lot of coin > though. Can't believe they never checked their safe. > > Their current website announcement is a straight offense too. > Wouldn't suprise me if some of them go to jail for Criminal > Neglegence. >
What I didn't understand until a few minutes ago is that MtGox wasn't putting their transactions on the blockchain. Thus, the built-in validation model that comes with bitcoin was being "worked around". -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.12 (GNU/Linux) Comment: Using GnuPG with Thunderbird - http://www.enigmail.net/ iEYEARECAAYFAlMNBM0ACgkQR0Qz1AeYNarW1wCfQiymj5KvFKu07Avd5/PvDWIY VjUAn2+xGSHfB5nCPPa6k5VDDgpBu86y =QRsp -----END PGP SIGNATURE-----
