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Comment by imperialdrive | Hacker News Reader

I've been around. What is bitcoin?, and who cares about whatever the hell 'Mount Gox' is?? Can we all get back to work on something meaningful to the future, family, or nature... someone we don't know about made up a currency, and some other company we also don't know about made up an 'exchange' of this 'currency' and now we still don't know what's going on and some 'bitcoins' are missing... the most it's all worth is a laugh

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> I've been around. What is bitcoin?

From https://bitcoin.org/bitcoin.pdf‎:

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.

Of course, the coins are only yours if you hold the private keys. A promise of some Japanese exchange to send you an amount of Bitcoin in the future is not the same as owning a Bitcoin.

It's pretty interesting, you should read it.

I think you had the only decent reply. Thank you. I know bitcoin, and was really just fishing for others that may share my view on the current state of affairs for the digital crypto currency. Some of us have been around just long enough to be aware that the field of technology doesn't create a buffer from unclean people and business characters. Also, that just because a lot of smart/clever people made something that a lot of people believe in, that at some point it passes the point of no return or is immune to failure. I think bitcoin failing may be good, could wake a lot of people up, many mistakes won't be made a second time, and the freed up focus and brainpower will go towards a better generation of technology to benefit humanity.

Currently, this event looks like about the third or fourth-largest crisis of the currency and has had very moderate on the valuation, although this might change in the coming weeks.

Many people in the field are very ethical and think that an improvement to the current financial system is of great benefit to humanity.

I mean, you are the one that decided to dive into the middle of a bitcoin discussion. I typically find it rather easy to ignore things that do not interest me, maybe you should work on that.

Maybe you should go back around to wherever you've been around, and not be around here, where you have nothing of value to contribute and no interest in the discussion at hand. The way things work, in case you didn't learn that by being around, is that you don't post messages complaining you're not interested in a topic to discussions about that topic. So stop being around here.

A laugh and a few good tens of millions of dollars that people actually do value and will pay that much for. Maybe cryptocurrencies aren't in your favor, but their value and growth isn't something to scoff at.

Bitcoin is a technological breakthrough, you are just being ignorant about it.

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