> 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".
Fucking hell, was that public knowledge all along? Why the hell did anyone trust those cowboys with a cent!? On 25/02/14 21:02, fyl wrote: > 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". > -- Please help support my crowdfunding campaign, IndieBB: Currently at 28.4% of funding goal, with 16 days left: http://igg.me/at/yourfirstgmo/x/4252296 T: @onetruecathal, @IndieBBDNA P: +3538763663185 W: http://indiebiotech.com
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