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comment by waxbolt
waxbolt  ·  3899 days ago  ·  link  ·    ·  parent  ·  post: MtGox "finds" 200k bitcoins

Fascinating in light of Falkvinge's article. It seems very likely that this was an inside job, and moreover a scam following mybitcoin.com's.

I have continued to avoid bitcoin out of frustration about the rampant speculation which has driven it into the public eye. As a currency, it seems ideal, but the concept of bootstrapping it on greed frustrates me and makes me wary to use the system in everyday life.

Hopefully this period will cool and it will become a system that can be used reliably for many kinds of transactions in lieu of government-backed fiat currencies. Still, I have doubts as these currencies benefit tremendously from the stabilizing efforts of governments. As of yet, no one has any motivation to stabilize the price of BTC, and as such risk dominates any potential utility for small users of the currency.