Another great mtgox read. Related reading: What Did Not Happen At Mt. Gox : http://hubski.com/pub?id=138266 Security At MtGox Much Worse Than Originally Imagined : http://hubski.com/pub?id=139692 Thosands of self-organized detectives argue that Gox heist was inside job - Interesting and thorough evidence laid out in this piece : http://hubski.com/pub?id=137576
Bitcoin just made sense. Thank you. It's an in-game currency with no native game. It's downloadable content that someone let out of the sandbox. I've spent the past week rebuilding a .sparsebundle with 300GB of MP3s on it that my Synology ate (after my mac mini corrupted the Sparsebundle, and after I trusted them to play nicely together - nobody's faultless in this one). It was a drag, but it was nerve-wracking. We are, after all, talking about MP3s. Were I to buy them all again we'd be talking about thousands of dollars but it wouldn't have come to that (lemme tell you some horror stories about Google Music, BTW - we'll save that for another time). In the end, it was a matter of reclaiming my horde so I didn't have to rely on Spotify and what.cd. It's all just data, though, being pushed around by me, as if I know what I'm doing. So you take something called "Magic the Gathering Online Exchange" and you're already dealing with an organization that pushes around DLC and in-game currency. Which, frankly, has always been a wretched hive of scum and villainy. Then you somehow inflate the values of those tokens up into "money money." You're still talking nerds pushing numbers around. If I had, say, 500,000 of something and they were worth, say, $1 each, I'd hire a goddamn professional. It's okay for me to punk around with my MP3 files 'cuz they're just MP3s and they're all mine. But holy shit - the cowboy culture of in-game currency explains so much about Bitcoin. Thanks, as always, for this.