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Mt. Gox Bitcoin Meltdown: What Went Wrong
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gev
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50%
gev,
User Rank: Moderator
3/5/2014 | 8:56:04 AM
Transactions are not free
And those who do not want to hedge their bets by paying transaction fees to third parties - such as banks or clearing houses - are left high and dry when things go wrong.
moarsauce123
50%
50%
moarsauce123,
User Rank: Ninja
3/4/2014 | 6:53:43 PM
No dreams in the land of makeblieve
The entirely made up currency only is as good as the hype that surrounds it and keeps any imaginary value high. Bitcoin is the transfer rubel of the new age, utterly useless and benefiting only very few people. Now a trading house comes along that is utterly clueless and has inept management. As quickly as the virtual money came as quickly it disappeared.

And people still trust this? I must be in the wrong movie....
Lorna Garey
50%
50%
Lorna Garey,
User Rank: Ninja
3/3/2014 | 1:47:27 PM
Business ops
Business op 1: Bitcoin buyers need ways to become informed about the security and reliability of exchanges. It's clearly unfeasible for each person who wants to use Bitcoins to do that analysis.

Business op 2: An entity willing to take an FDIC-type role and promise to make good on losses. Payments would come from fees from exchanges wanting to join up.


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