Bitcoins : Mt. Gox gone bankrupt

[MrJonno]

Anybody think that there might be some government stealing bitcoins?

What an easy way to tax criminals, and fund undercover CIA operations without an official record of funding.
Two birds with one stone.

I would, in their shoes.

Far easier ways surely, and if governments wanted to undermine bitcoins they would simply ban them which apart from a few geeks wouldn't be remotely controversial

[mistermack]

Another exchange ripped off

http://www.theregister.co.uk/2014/03/06 ... ck_attack/

Tristan D'Agosta, who runs Poloniex.........He has promised to repay people who have lost money in the theft, which resulted in the loss of 12.3 per cent of the exchange's money reserves.........However, he doesn't have enough Bitcoin to pay back the unlucky victims just yet..........observers have suggested the amount adds up to something in the region of $50,000.

What the fuck is going on? People are entrusting big sums of money to people, with NO security, who haven't got fifty thousand dollars. Probably hasn't got fifty dollars.
Why would ANYONE do that?

[MrJonno]

I think its because despite what Bitcoin fanatics say they don't see bitcoins as real money either, hence they are sloppy.

Has anyone actually determined if legally you can 'steal' a bitcoin, there are obvious computer hacking offences but not convinced its actually theft

[mistermack]

I think its because despite what Bitcoin fanatics say they don't see bitcoins as real money either, hence they are sloppy.

Has anyone actually determined if legally you can 'steal' a bitcoin, there are obvious computer hacking offences but not convinced its actually theft

Check with Seth. He's the expert on theft.
I didn't know that income tax was theft, till he told me.
Maybe, if you steal a bitcoin, it's not theft, but if you take it in tax, it is.
After all, it's virtual currency, so it's only virtual theft, at the worst.

[MrJonno]

To be honest I didnt know breathing was theft until I met Seth and his existence is definitely theft of oxygen that others could use

[PsychoSerenity]

I think it will count as theft in most places. Several governments are now issuing notices insisting that earnings made from cryptocurancies are taxable. But since with bitcoin the theft can be both international and almost untraceable, transferred multiple times with no auditing or accountability, you're going to have a hard job ever catching anyone and proving it unless they're really stupid.

[MrJonno]

I think it will count as theft in most places. Several governments are now issuing notices insisting that earnings made from cryptocurancies are taxable. But since with bitcoin the theft can be both international and almost untraceable, transferred multiple times with no auditing or accountability, you're going to have a hard job ever catching anyone and proving it unless they're really stupid.

I wonder how many 'miners' have declared the creation of bitcoins on their tax forms. There is a real opportunity to lock up a lot of libertarians here. Whoever invented bitcoins should get a Nobel Peace Prize

[PsychoSerenity]

Well HMRC are unlikely to collect on undeclared bitcoin. They have enough trouble collecting the billions of missing tax in our own currency, which is further hindered by massive cuts to staff. It's almost as if the government want people to avoid tax.

[MrJonno]

https://bit121.co.uk/

Barclays bank which is a real bank has pulled out with working with them

[SteveB]

The CEO killed herself. Wow.

http://business.financialpost.com/2014/ ... a-bitcoin/

SINGAPORE — Singapore police are investigating the apparent suicide of a 28-year-old American woman who ran a small exchange in the Asian city state trading virtual currencies.

Autumn Radtke, chief executive of First Meta Pte Ltd, was found dead at her Singapore home on Feb. 26. Police said they were investigating her “unnatural” death, and “preliminary investigations showed no foul play is suspected.”

Neighbours said they thought Radtke jumped to her death from a residential apartment complex.

Enron and all that. Crazy bubble.

[pErvinalia]

A pox on Mt Gox!!

[laklak]

Wealth is wealth only so long as it's reasonably liquid and useable economically.

Yeh. That's why people buy wine as an investment.

Pussy, that's the thing to own. Somebody will always buy you a drink or stand you a meal for it.