Friday, February 28, 2014

BitCoin Bankruptcy: Latest Reports From Libertarian Banking Paradise

Bitcoin Kingpin Admits Everyone's Money Is Gone
Schadenfreude.  Bitcoin has got to be the stupidest goddamn idea I have ever heard of.  Insanely wasteful idiocy, because freedom somehow. I'm sure a few gamblers and a lot of thieves have made out well though.
Japan-based Mt.Gox CEO Mike Karpele—who may or may not be Chris Farley reanimated with the soul of Reddit—just copped to some very bad news: yes, he lost all your money. We still don't know why all the money is gone, or where it went, but a combination of theft and titanic incompetence is likely. The bottom line of anyone who used the Mt.Gox exchange: your account balance is now zero.
By the way, "Mt.Gox" stands for "Magic the Gathering online exchange".  Can you think of a better place to entrust one's financial holdings?  I thought not.


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