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A BitCoin Investor Bravely Says You Should Still Trust in BitCoin

Illustration for article titled A BitCoin Investor Bravely Says You Should Still Trust in BitCoin

Austin Hill - who has no problem calling himself a "world changer" - has created a Medium seemingly just to address the collapse of Mt. Gox and people who have (rightly) questioned the real operation of the techno-Libertarians wet dream of unregulated currencies.


Here are some of his totally enlightened and not at all biased words on BitCoin:

I spent some part of last night talking with the #bitcoin-wizards who I trust in these things. There has been some initial data analysis on the blockchain that shows repeated transactions related to Mt. Gox that may relate to transaction malleability. But this is still early data and in no way relates to the security of bitcoin. Some transactions that appear to be Mt. Gox transactions appear to duplicate with the same amounts being repeated in the blockchain.

This was entirely their own fault. As one bitcoin core developer commented to me,

"failing to understand the protocol while holding billions, bad bitcoind api, going out of your way to hack up a really old version of bitcoind to use as your bitcoin manager, going out of your way to break bitcoind so that its easier for people to steal from you, broadcasting to the world that you have a terrible system……….?"

This particular failure of Mt. Gox is frustrating for cryptographers and bitcoin developers because they have the technology to avoid these problems.


Hm. It's almost as if they meant to do that! It's almost as if Bitcoin has been highlighted as a scam from multiple sources.

But never mind that. Keep putting real money in! This dream will happen if we all believe in it!

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