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by jomkr 3200 days ago
I was in BTC from very early on. Ironically I didn't make much money but that's another story.

I'm shocked, absolutely shocked that the Magic The Gathering Online Exchange wasn't suitable dealing with hundreds of millions of dollars.

The signs were obvious that it was being run by amateurs for anyone that spend five minutes doing a google search.

When I heard a friend had deposited more money than he could afford to lose on MtGox, I immediately jumped in the car and drove 2 hours to his house. I convinced him, basically at the point of physical violence to take his BTC out of MtGox and store them in a wallet on his computer, encrypted and backed up on several cloud sites.

One month later MtGox was hacked. I received an apology and a very nice bottle of whiskey from my friend.

1 comments

I think if a friend drove two hours to my house and threatened physical violence because they disapproved of my financial and technology decisions, I would have one less friend.
If anyone cared this much about me unwittingly risking my livelihood, they'd have a friend for life.
It's only admirable in retrospect. What if Mt. Gox shot to the moon and decided to pay dividends, but your friend threatened you not to buy in?

I've been threatened by inlaws for subscribing to practices that will end in my damnation -- something much more significant than losing savings. They genuinely believe this. And I still don't think that's right, and it wouldn't be right if everything they said turned out to be true.

What would you do if someone you cared about was falling for a Nigerian scam?
He's essentially more of a brother to me, and yes it wasn't the nicest experience for anyone involved but he didn't lose his life-savings.
Your loss, right? Twice, in that case.