I just got another of those stupid mtgox bankruptcy emails from Japan and I thought, gee, I wonder what happened to that fat guy who ran mtgox? Google led me here, I haven't told the interwebs my mtgox story, just friends and family I trust not to judge me too harshly.
I had only a few dollars in mtgox when she sunk and a few fractions of a btc, so I don't really get to enjoy all the hate people have for this guy. I put 11.5k aud in and realised it was a ponzy scheme less than a month later when I tried to take out 12k to just play with my profits and was told I could only withdraw 1k per day, by then it was too late. It was a wild ride though, I daytraded altcoins like a boss after the first big crash and cashed out at nearly break even, going from 55 bitcoins to 79 through altcoins alone, or so I thought, I waited three months for my cash and when it came it was nearly 3k short, I didn't care at that point, I'm not sure why I even got anything, maybe someone had a conscience after reading my regular emails, I've written it off as an expensive lesson and don't really care about the bankruptcy situation, lots of people lost way more than me! If I could do it again I'd try to remain calm, I would withdraw my bitcoins from mtgox and sell them slowly and calmly through private channels, I would have ended up well ahead, the trouble was mtgox was synonymous with bitcoin, and when I realised mtgox was a ponzi scheme I assumed that meant bitcoin was part of that.
I lost some decent opportunities back then, so now I just park my savings in less volatile investments, precious metals, physical foreign and domestic currency, and supplies I think will have a high resale value if ww3 or some other large scale catastrophic event breaks out. I don't hate the fat dude, or anyone else, I risked my own money, money I could have afforded to lose if it came to that (and it certainly seemed to), I'm responsible for what I do with my money, there is no shortage of arseholes who'll take your money or idiots who'll give theirs to you.
