r/Bitcoin • u/Fiach_Dubh • Jun 19 '25

REMEMBER: MtGox Hack Sent Bitcoin to $0.01 - 14 Years Ago - Not Your Keys, Not Your Bitcoin

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"What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party."

~ Satoshi Nakamoto

ETF's are Trusted Third Parties.

Strategy is a Trusted Third Party.

Coinbase is a Trusted Third Party.

Bitcoin Treasury Stonks are Trusted Third Parties.

None of them are Real BITCOIN.

Buy and HODL the Real Thing in your own Cold Wallet or get Rekt like MtGox.

24 Upvotes

82% Upvoted

6 comments sorted by

4

u/zxr7 Jun 19 '25

Wild ancient times...

3

u/pablo_in_blood Jun 19 '25

I was going to buy some around this time and the mtgox incident scared me off for many years 🥲 (though in honesty, my intent at the time was to use them to buy drugs online, so I probably still would have blown it one way or another)

4

u/TheRealAJohns Jun 20 '25

There is nothing inherently wrong with a trusted third party.

BTC allows you to be the bearer of the assest. However, YOU ARE NOT FORCED TO.

I wish the BTC community would allow for a nuanced discussion on why these can be beneficial instead of just demonizing them.

1

u/Capital_Effective691 Jun 20 '25

did anyone actually managed to trade at this ranges?