BitCoin is not a 'wealth redistribution' scheme.
BitCoin has not actually devaluated anything.
Yes, BitCoin has appreciated in 'value' obscenely,
which I find interesting as BitCoin has no intrinsic
value of its own. BitCoin is not even a 'national
currency' - supported by the actions and economy of
the peoples who trade in it.
No I am not going to even think about buying BitCoin.
I'd buy gold first. (At least if gold loses a lot
of its value I can still use it to decorate and attract
womens . . . If BitCoin loses all its value there is,
literally, nothing left at all.)
BitCoin reminds me of the tulip mania . . . or the
dot-com frenzy of the late 1990's. In late 1999 the clowns
was crowing 'To-Da-Moon BABY' . . . By 2001 they had
lost over 90% of their 'value'.
Let's not forget that BitCoin exists only in computer
bits . . . imminently hackable . . .
Zim.
>>>>>>>>
List of Bitcoin Heists
https://bitcointalk.org/index.php?topic=576337
Following is the result of research on prior Bitcoin-related thefts. The list strives to be as accurate and informative as possible, and where possible I have provided references for assertions made within. For disputed thefts, I have applied best judgement and included the ones that were most publicly accepted.
Because of the volatile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC. Although not heists per se, major permanent bitcoin-denominated losses are also included in this list. If I missed any major thefts, heists, or losses, or if you have any other information to contribute to one of these events, please leave a reply in this thread.
. . .
Rank Name Severity (January 2014 BTC) USD Equivalent
1 2014 Mt. Gox Collapse 850000.000 BTC 700258171 $
2 Silk Road Seizure 32716.283 BTC 26867560 $
3 Sheep Marketplace Incident 4978.276 BTC 4070923 $
4 Silk Road 2 Incident 4400.000 BTC 3624866 $
5 GBL Scam 4185.734 BTC 3437446 $
6 MintPal Incident 3894.492 BTC 3208412 $
7 Bitcoin Savings and Trust 3700.408 BTC 2983473 $
8 PicoStocks Hack 3679.520 BTC 3009397 $
9 MyBitcoin Theft 1395.691 BTC 1072570 $
10 CryptoRush Theft 950.000 BTC 782641 $
11 Flexcoin Theft 896.104 BTC 738240 $
12 BIPS Hack 808.140 BTC 660959 $
13 Inputs.io Hack 780.069 BTC 640615 $
(Much was skipped and the list does go on. Zim.)
Mad Poet Strikes Again.
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