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Re:Bitcoin security model: trust by computation by gwern on Friday February 21, 2014 @11:36AM (#7277725)
> Meanwhile, the central actors Bitcoin doesn't have who received the trust that Bitcoin doesn't require ran into a smidgen of trouble running the bank that Bitcoin makes obsolete

Mtgox is not a centralized bank in the Bitcoin economy, has steadily been deprecated due to its ongoing problems, and long ago lost even a bare majority of Bitcoin/fiat turnover as people moved away from it (just as a distributed currency lets them easily do). Its problems are now between it and the customers who decided to bet on it in trying to take advantage of the famous Mtgox risk premium.

Bitcoin: working as designed.

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