140Characters.co.uk

Connections, Ideas and Emotions


1 Comment

The Bitcoin Few Can and Should Help The Bitcoin Several

I bought Bitcoin about a year ago. It soared in price. I sold enough Bitcoin to get my original stake, (it was a total gamble) back into my UK bank account.

I also bought a hi-spec laptop for my 13 year old son Louis for Christmas with my Bitcoin.

I’m not a looser in the Mt.Gox potential bankruptcy, but I have lost big. And not just me, but the Bitcoin community, I think.

A year ago I trusted the Bitcoin Foundation, the first place I read information about how to buy Bitcoin. I went with what I trusted on the Foundation site. I went with OKPay to send my Pounds to Dollars then send to Mt.Gox so I could buy my Bitcoin. Mt.Gox was ‘the’ exchange that stood out as working closely with the Bitcoin Foundation, what could possibly go wrong ? I was joining a community committed to fare play and economic liberalism, two things  I really believe in.

I knew I was gambling and I was prepared to loose all I had put it in to support something I believed in, a digital currency not controlled by established institutions, but a community of likeminded people that really knew what the future was about in computing terms.

I started to spread the word and encourage others to take part in owning Bitcoin. I set up a blog BitcoinCoach.co.uk

Right now, today, I’d like to spread the word that members of the Bitcoin Foundation and/or Satoshi Nakamoto will do all they can to donate as many Bitcoin as possible to account holders of Mt.Gox.

Bitcoin has very small number of  holders owning very big piles of Bitcoin. Of those few a lot of bought their Bitcoin at very very low value.

If my bank account or credit card had been hacked, I would not loose anything today. In Bitcoin world it’s not the same. The Bitcoin concept cannot work for the mainstream unless there are protections.

The Bitcoin community could underwrite Mt.Gox losses and show the world, the community supports it’s early pioneering community members.

Crypto currencies are the future, I’ve lost my stake in the future because of the experiment that was Mt.Gox. I can no longer promote Bitcoin with any confidence, nor can I spend my Bitcoin to support vendors, I’m out of the experiment and I was a valuable member of that experiment.

Sometimes I think my trust in the Bitcoin Foundation and Mt.Gox trust has been abused, my reputation and intelligence brought under scrutiny. But then I think it was one giant experiment I choose to be part of , so ‘deal with it Daren’

The only people that can help, are the big Bitcoin holders and the Bitcoin Foundation. I hope you read this, and think about rescueing me and thousands of others like me, that got behind your experiment.

We are worth keeping in the experiment.

It won’t cost you very much and could yield massive returns for the future of mankind. 

Please share. Thanks

Daren

Advertisements