Just did a quick listen to some podcasts, regarding Mt Gox. Apparently, the bitcoin price was hovering steadily around 100 USD for months, then shot up to 1000 USD in November 2013. Two months into that precarious price – akin to an egg on the edge of the bull’s horn – it tanked belly up.
Nothing special. This episode has been told before.
Then according to some sources, the stealthy larceny of bitcoins – literally in bits was happening a long time ago when the coins were valued at a few dollars.
Now my postulation is in this post Version 2.0 of Bitcoin (when it hit its true value of 1000 USD, or possibly when it gets parity with an ounce of gold), where over a hundred virtual cryptocurrencies now coexist in the zooplankton jungle of 0 and 1s, is that the same situation that happened with Magic The Gathering Online XChange, is being juxtaposed onto all of these colourful, amoeba-like coins.
Hackers would have planted code, hiding in obscurity, waiting and patiently waiting for the moment to exhale.
Why not? Coins are valued from 0.0001 cents, to a couple of dollars.
Perhaps some of these hackers are paid by powerful entities. If there are systematic methods and protocol of trying to do intelligence gathering, to spy on sovereign secrets, and planting assets in far flung nations, this is surely as likely as the Mt Gox episode.
The internet is a dangerous place. The blockchain is like the internet. Therefore, the blockchain is a dangerous (hiding) place too. Who else is hiding behind the codes, hiding behind exchanges, hiding behind the ATM, hiding behind the seemingly valid transaction of a LocalBitCoins seller? Remitano buyer?
It might not be far fetched at all, to consider almost all of these coin exchanges, even buying peer to peer, would have been infiltrated by a “normal” seller who is actually collecting data and identity.
Bitcoin Wars is not merely a power outage, or rigging the market with large sums of selling. It is planting agents, planting codes, hiding, gathering (magic), poisoning the water supply.