Mt. Gox Bitcoin Exchange Files for Bankruptcy, Blames Hackers for Losses

I hate to say “I told you so,” but… I told you so. I’ve been knocked pretty hard about my bitcoin stance and regardless of “assurances” of it’s viability, I’ve always said (especially being a programmer and systems engineer) that no currency that exists on the Internet that is tied to intrinsic value will ever, EVER be safe, because no technology is hack proof or dumb clerical error proof;

And for any nation who’s currency standard is backed by real-word currency, bitcoin would be an economic disaster. So here you go bitcoin people…

Mt. Gox, once the world’s biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.

Congratulations! We’ve successfully gone from currency backed my precious metals, to fiat money, to virtual money. SUCCESS!… /rolls eyes… idiots.

I know that was harsh, but it goes to show what lengths people will go to for weath. They’d spend real money on something that’s not even real. They wouldn’t buy stock, they wouldn’t open an account or another kind of real investment.

Here’s a suggestion that everyone needs to consider…

If you’re going to spend money on something that really makes money, why not start your own business and work online? The money is real and so are the products?

And there are affordable options. Click here now and take a look.

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