2014-02-25 19:22 GMT+01:00 The Doctor <drwho@virtadpt.net>:
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.