A Quote by Erik Voorhees
Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.
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If there is one positive takeaway from the collapse of Mt.Gox, it is the willingness of a new generation of Bitcoin companies to work together to ensure the future of Bitcoin and the security of customer funds.
From an architecture perspective, Mt. Gox is not an isolated incident. We've had exchanges continually hacked after Mt. Gox. This has been an ongoing problem that has continued to plague our industry.
Anybody who has enough information about what's going on in the bitcoin world, you would not buy your bitcoins on Mt. Gox.
Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.
PayPal came within an inch of being shut down by regulators when they started. The feds seizing the Dwolla account and stealing the money that is owned by Mt. Gox customers is more proof that Bitcoin is the superior payment system.
I consider the guys at Mt. Gox my friends.
In the longterm for Bitcoin, Gox needed to go away.
I cannot shapeshift into an animal. But I can shapeshift into a drunker person.
As humans, we've always innovated our way out of problems, whether it was the first torch to light a dark cave or the steam engine that sparked a revolution.
Gox was a pattern of poor operations, poor customer service, poor PR. You can't just take bitcoin and hide.
What happened at Mt. Gox is not an isolated incident. This is a plague that continues to play like a bad broken record. As long as this continues to happen, how are we ever going to instill confidence in this industry? How are we better than the old financial system?
Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining.
Because the supply of Bitcoin is limited, the price of Bitcoin is going to have to increase and increase very substantially over time. My advice is that if you're interested in Bitcoin and excited by Bitcoin, then buy some Bitcoin and hold onto them, and you're likely to do very well over time.
Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.
Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
My whole life I've always innovated the gear to match my pursuits. I've innovated the best climbing gear, the best slacklining gear, and definitely the most advanced BASE jumping gear.
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