Luckily the transactions were made through Mt. Gox, and only $10,000 worth of coins were actually "stolen." Minor in the broad scheme of things. It was unfortunate how it happened. There is a lot to think about here though. In my opinion this was at a volatile moment in which thousands of people were getting into BTC and not really understanding how it worked. They just saw $$$. When it crashed the way it did, of course people panicked, sold, and left. Most of them probably have no idea the true concept behind Bitcoin.Originally Posted by z3r0
You are right though that something like that had a massive negative effect, but since then security measures have been increased and within the past couple of months a lot has been learned and it has become a much safer "investment." Mt. Gox has now made it so that you can't withdraw more than $1000 worth of BTC at their current rate without answering security questions, etc..
Bitcoin is still risky, but the market is a little more steady. I also think there are more people involved now that actually like the idea of what Bitcoin is, and with a ton of sites popping up that support BTC as a currency, it definitely helps.
Overall, very few things in this world are going to be implemented and run flawlessly first go. It takes time to perfect a process, and even then, the process may never be perfect. It's a young fledgling open source software. Linux was by no means perfect when it started, but after many years almost every one owns something that is Linux based, such as your Android phone.
I just think the concept is pure and for the better. It may not work, but to me, it's something that could be better than what we have now.
