Tokyo bitcoin exchange gone from Internet, owner disappears. Bitcoin enthusiasts are putting on a brave face but this has got to be a blow to alternative currencies. Mt. Gox was the biggest bitcoin exchange in the world and the whole thing is just gone, people’s investments nothing but 1s and 0s swirling around in the digital ether.
This post was last modified on January 26, 2021
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Owner was found dead earlier today, tied toa chair and shot 8 times in the back of the head with a nail gun, police ruled the case as a suicide.
Spokespersons for the White House, European Union, MI6, NSA, CIA and George Soros collectively denied having carried out any assassination between the time the man was last seen and the time and when his body was found.
The White house spokesman expressed the president's exasperation with current legislations, which were declared outdated, arguing that extra-judicial assassination by governements, human rights organizations or big banks are really no different from abortion, even if it is made illegal, it would still be done in secret.
http://beforeitsnews.com/alternative/2014/02/highly-suspicious-12-banker-suicides-linked-to-jp-morgan-investigation-for-forex-manipulation-continuing-investigation-video-2903812.html
A serie of unlikely coincidences.
Why does a Steve Miller Band tune keep coming to mind? Although it more likely that a senior member of somebody like Deutsche Bank told him to go away, before we make you go away.
Looks like a lot of people got a dose of virtual reality to me.
Isn't Bernie Madoff in jail for something similar
No, Bernie Madoff sold real things that didn't exist. Mt. Gox was selling imaginary things that didn't exist. I know it's a subtle difference but this is high finance so you need to be mentally flexible. You have to open your mind to the Force, spit North, throw salt over your shoulder to the East, and then you'll comprehend, Grasshopper.
I did all that. I still don't understand.
It is not for me to know.
The instructions are different for you, mostly involving alcohol.
As I said, it is not for me to know. Since I don't drink.
Surprise surprise. More suckers fleeced in the very obvious scam. HAhahaha.
Interesting thing is that no currency is any different. Not only is most money numbers in a bank account, but there's nothing backing it up. Bitcoins and other crypto-currencies just don't pretend otherwise. The one thing different between the dollar and the bitcoin is that there's a government willing to say its worth what it says it's worth. And with that government being caught lying so much, people might not believe them much longer.
What I don't get is why they didn't use this same idea, an alternative currency, but back it with something sitting in a vault - gold, silver, platinum, something. Make sure the management of the vault's contents is separate from owners and managers of the exchanges, and audit the contents. That would have put them up on the world's official currencies. In that case, an exchange owner disappearing and his exchange website going down would have made no difference in the long run.
Why should a virtual currency have concrete commodoties to back it when the rest of the world doesn't work that way?
Basically, all currencies are virtual, because there is nothing but popcorn farts and fairy dust backing them.
Yeah, to an extent, normal currencies are smoke and mirrors, too, but not completely. The U.S. dollar does, after all, have the backing of millions of taxpayers in the richest nation on Earth.
Who are, unfortunately, in the most debt of any country on earth.
Maybe the intent was simply to fleece a bunch of suckers. . . it obviously worked with no need to invest in anything to "back" the scam.
Well, the theory is bitcoins are actually backed by the NSA who are using the combined power of millions of GPUs to crack encryptions. I don't personally believe it seeing as the NSA has much more powerful computers at their disposal.
But to get that much precious metals would take a huge initial investment. And then the entire currency would be concentrated in the hands of a few investors, meaning it would be difficult to distribute the currency. The way bitcoins work is anyone who has a powerful enough computer can "mine" them by doing certain mathematical equations. Basically breaking what are called hashes. These are checked against a central server to see if they're valid or not. It allows a large scale distribution of the currency with only some time and computer equipment as a startup investment. Overall it's very clever, but it's going to start falling apart very soon.