IT KEEPS HAPPENING: Bitcoin bank Flexcoin bites the dust after hack attack
36 replies, posted
[QUOTE=supersnail11;44131563]If your exchange folds overnight, you're an idiot for keeping your money in an exchange. It's not a bank!
And no, I'm not trying to say that USD is evil, but neither is Bitcoin.[/QUOTE]
Oh yeah, keeping them in exchanges is pretty fucking risky, but aren't there massive queues to get your money out at times? During which your coin is stuck in limbo whilst they process it? I mean, they'd be silly to spend so long processing something without taking it from you to process.
I was more parodying the diehard bitcoin warriors with the USD statement :v: Some people are fucking stupid in their belief in these things.
[QUOTE=hexpunK;44131745]Oh yeah, keeping them in exchanges is pretty fucking risky, but aren't there massive queues to get your money out at times? During which your coin is stuck in limbo whilst they process it? I mean, they'd be silly to spend so long processing something without taking it from you to process.[/QUOTE]
Depends on the site, really. Mt Gox froze transactions, but people had been cautioning against using it for a long time before that point.
[QUOTE=Sobotnik;44128828]There's also loads of people who sunk tons of cash into it and lost out.
Especially those who bought all that mining equipment.[/QUOTE]
Are you talking about that thing where a lot of people bought ASICs from Butterfly labs(maybe other companies) whose arrival kept getting delayed?
Speaking of which: did they ever arrive?
[QUOTE=ASIC;44135937]Are you talking about that thing where a lot of people bought ASICs from Butterfly labs(maybe other companies) whose arrival kept getting delayed?
Speaking of which: did they ever arrive?[/QUOTE]
[URL="http://arstechnica.com/tech-policy/2014/02/new-lawsuit-against-bitcoin-miner-manufacturer-alleges-fraud-negligence/"]Butterfly Labs are being sued ATM.[/URL]
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