[quote]Vircurex was hacked twice last year and had been using a reserve of ‘cold storage‘ currency to reimburse users whose balances were affected by the hacks. However, “large fund withdrawals in the last weeks… have lead to a complete depletion” of the reserves, the company says, meaning that it doesn’t have the funds to pay back affected users. (The exact amount lost to hackers was never made public by Vircurex.)
Rather than filing for bankruptcy, as Mt. Gox has done, Vircurex is locking down its existing accounts and has a strategy aimed at paying back all affected customers and returning the exchange to positive financial health.[/quote]
Source: [url]http://thenextweb.com/insider/2014/03/23/sound-familiar-bitcoin-exchange-vircurex-freezes-customer-accounts-as-it-battles-insolvency/#!A3Chj[/url]
They're basically planning to run a ponzi scheme to get their money back. If more people don't put money in, they're bankrupt.
Christ. Its like everyone wants to destabilize the bitcoin economy.
That said I wouldn't miss my 20p's worth of bitcoins.
Jesus, Bitcoin is taking a real tumble.
There is no room on the moon for bitcoin, dogecoin is the future!
[QUOTE=MaddaCheeb;44334550]Jesus, Bitcoin is taking a real tumble.[/QUOTE]
Maybe people will try to make real money now, inflating GPU prices, stop putting their life savings into the roller coaster that is virtual currency and then topping themselves off when it dips by 40%
[QUOTE=Midas22;44334703]Maybe people will try to make real money now, inflating GPU prices, stop putting their life savings into the roller coaster that is virtual currency and then topping themselves off when it dips by 40%[/QUOTE]
no one put their life savings into Bitcoin
[QUOTE=sYnced;44334723]no one put their life savings into Bitcoin[/QUOTE]
Apart from all the people who did.
[QUOTE=sYnced;44334723]no one put their life savings into Bitcoin[/QUOTE]
[url]http://bgr.com/2013/04/05/bitcoin-retirement-investment-414950/[/url]
to be honest, if you invested last year in life savings you're still doing pretty good on value.
[QUOTE=smurfy;44334773][url]http://bgr.com/2013/04/05/bitcoin-retirement-investment-414950/[/url][/QUOTE]
one reddit person claims to have done so.
you just wasted my time smurfy.
Dogecoin isn't frozen so exchange all your bitcoins for dogecoins, withdraw those, turn them back into bitcoins at another exchange
Or keep all your money as dogecoin because it's the #1 cryptocurrency
[QUOTE=supersnail11;44333778]Source: [url]http://thenextweb.com/insider/2014/03/23/sound-familiar-bitcoin-exchange-vircurex-freezes-customer-accounts-as-it-battles-insolvency/#!A3Chj[/url]
They're basically planning to run a ponzi scheme to get their money back. If more people don't put money in, they're bankrupt.[/QUOTE]
It sounds like they were running a ponzi scheme to start with. I've heard a lot of stories about these mystery "hackers" taking off with investors' money from exchanges and smaller BTC investment vehicles and wonder how many were really hacked and how many were like, "Oh uh...sorry. We got um...hacked...yeah...hacked! So...we don't have your money anymore. See ya!"
[QUOTE=IGotWorms;44335838]It sounds like they were running a ponzi scheme to start with. I've heard a lot of stories about these mystery "hackers" taking off with investors' money from exchanges and smaller BTC investment vehicles and wonder how many were really hacked and how many were like, "Oh uh...sorry. We got um...hacked...yeah...hacked! So...we don't have your money anymore. See ya!"[/QUOTE]
Wiser fellows called all of this when Bitcoin first started gaining popularity. But eh, people have to learn these lessons the hard way I guess.
[QUOTE=sYnced;44335297]one reddit person claims to have done so.
you just wasted my time smurfy.[/QUOTE]
[quote]no one put their life savings into Bitcoin[/quote]
1 > 0
I know a dude who has lost 2K in recent weeks due to the bitcoin/mt gox stuff, another dude the week before the mt gox thing bought a pile of cards and was trying to build rig. I bet those guys really regret it now.
[QUOTE=Midas22;44334703]Maybe people will try to make real money now, inflating GPU prices, stop putting their life savings into the roller coaster that is virtual currency and then topping themselves off when it dips by 40%[/QUOTE]
Lots of people made real money off bitcoin. Why stop trying now?
[QUOTE=Midas22;44334703]Maybe people will try to make real money now, inflating GPU prices, stop putting their life savings into the roller coaster that is virtual currency and then topping themselves off when it dips by 40%[/QUOTE]
Define real money.
So, Cryptocurrency, who's their to protect you when all your coins are stolen?
Rhetorical question, No one is the answer, i'll rather let the government take their tax if they're willing to protect my monies.
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