On Fri, Mar 21, 2014 at 8:59 AM, rysiek <[1]rysiek@hackerspace.pl> wrote: Dnia piÄ…tek, 21 marca 2014 08:20:02 Kelly John Rose pisze: > On Thu, Mar 20, 2014 at 11:25 PM, jim bell <[2]jamesdbell9@yahoo.com> wrote: > > [3]http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-b itcoin > > -in-an-old-wallet-shoul/?ncid=txtlnkusaolp00000589 > > > > "In a bit of news that's familiar to anyone who ever put on an old jacket > > and found $20 in the pocket, embattled Bitcoin exchange Mt. Gox has made a > > fortuitous discovery. The company announced > > (PDF)<[4]https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf> in Japan > > that it found 200,000 Bitcoin (worth nearly $116 million at the moment) > > in a wallet from 2011 that it no longer used. That's less than a quarter > > of the 850,000 Bitcoins CEO Mark Karpeles reported were missing, but at > > the moment, at least it's something. According to its statement, the > > coins were moved to online wallets on the 7th, and then to offline > > wallets on the 14th and 15th. The mystery of what happened to Mt. Gox's > > funds<[5]http://www.engadget.com/2014/03/11/mt-gox-us-assets-frozen/ > is > > still far from solved, but between this news and reports of updated > > balances for account > > holders<[6]http://www.engadget.com/2014/03/17/mt-gox-login-page-retu rns/>, > > it seems possible that there's something to be recovered from the > > shuttered exchange. Next up, removing all of the cushions from the sofa > > and pulling it away from the wall." > > If that doesn't inspire confidence in you, I don't know what will! > > Honestly, I really wonder what would happen if some developers who > understand financial cryptography and how banks properly work built a real > bitcoin exchange. Considering how well it has done with incompetents like > this, I'm betting a properly programmed and vetted system may be quite > successful. I'm betting the exactly other way. "First to the market" and some snakeoil usually, unfortunately, win by leaps and bounds with "well-designed and properly implemented". -- Pozdr rysiek Snakeoil will be good at sucking money out of suckers with more dollars than sense. Bitcoin, or some other cryptocurrency, really does have potential as a way to grease the gears of international finance or micropayments, but not really as a complete currency replacement in my opinion. The problem here is that there is no legitimate or reasonable way to buy into the market without going through these snakeoil-like dealers. -- Kelly John Rose Twitter: @kjrose Skype: [7]kjrose.pr Gtalk: [8]iam@kjro.se MSN: [9]msn@kjro.se Document contents are confidential between original recipients and sender. References 1. mailto:rysiek@hackerspace.pl 2. mailto:jamesdbell9@yahoo.com 3. http://www.engadget.com/2014/03/20/mt-gox-apparently-found-200-000-bitcoin 4. https://www.mtgox.com/img/pdf/20140320-btc-announce.pdf 5. http://www.engadget.com/2014/03/11/mt-gox-us-assets-frozen/ 6. http://www.engadget.com/2014/03/17/mt-gox-login-page-returns/ 7. http://kjrose.pr/ 8. mailto:iam@kjro.se 9. mailto:msn@kjro.se