There was word these coins were protected. Simply wow!
Anyone who invests in bitcoin from here on out needs their head examined.
I’m assuming the deposit into Mt. Gox is part of the Bitcoin “chain” I keep hearing so much about. So anyone that attempts to use a Bitcoin where Mt. Gox is part of the the chain must be a hacker, right?
Buh bye bitcoin?
I was explaining my understanding of Bitcoin to others in a similar manner.
There's a chain of custody for every coin back to the "miner" or the entity who discovered the key.
So these coins are easily identified and blocked from future use.
It must be more complicated as these coins may have become anonymous and can be used. Perhaps the depositing process at this institution is flawed and the chain of custody cannot be violated.
If so the whole premise of crypt o-currency is null and void.
Deposit holding implies that the institution (MtGox)is honest and competent.
The problem is that the amounts stolen far exceed conventional currency theft, and the thieves can vanish in places we find hard to access. Pakistan anyone?
Started by people who didn’t understand how currency works.
