On one hand I feel really bad for a lot of these people, but there were so many flashing lights and warning signs around MtGox that these people had to see putting money into this company was a bad idea right?
The exchange was a cobbled-together technical-mess that was originally supposed to be used for trading cards. They made a quick pivot and tried to wing it as a financial institution.
Hopefully the BTC and finance community learn from this disaster. There is going to be a huge market for a highly-regulated exchange run by banks and investment houses in the near future.
Yeah, the only possible excuse is if you were new to Bitcoin and went with Gox because it is what was mentioned in the media most often. When I first got into it a year ago I used Gox for a couple weeks before I realized it was totally FUBAR and got out.
Comments
On one hand I feel really bad for a lot of these people, but there were so many flashing lights and warning signs around MtGox that these people had to see putting money into this company was a bad idea right?
The exchange was a cobbled-together technical-mess that was originally supposed to be used for trading cards. They made a quick pivot and tried to wing it as a financial institution.
Hopefully the BTC and finance community learn from this disaster. There is going to be a huge market for a highly-regulated exchange run by banks and investment houses in the near future.
Yeah, the only possible excuse is if you were new to Bitcoin and went with Gox because it is what was mentioned in the media most often. When I first got into it a year ago I used Gox for a couple weeks before I realized it was totally FUBAR and got out.