Gox

[Lodewijk andré de la porte]

2014-02-25 19:22 GMT+01:00 The Doctor <drwho at 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.
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