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Bitcoin true believers unfazed by losses in Mt. Gox collapse

07
Mar
2014

By Kevin Krolicki and Nathan Layne TOKYO (Reuters) – Like other bitcoin evangelists, Ken Shishido is ready to write off the money he lost in the bankruptcy of Tokyo-based virtual currency exchange Mt. Gox as the price of revolutionizing global finance. “In the early days of the automobile, there were traffic accidents because you didn’t have traffic lights or pedestrian crossings,” he said hours after Mt. Gox said on Friday it had lost up to half a billion dollars of investor funds, including some of his own. “But we didn’t ban automobiles.” Shishido, who lives in Tokyo, was one of about 1,000 investors in Japan who became creditors in Mt. Gox’s bankruptcy when the company capped a tumultuous period of weeks by filing for bankruptcy on Friday. He lost about a tenth of his investment in bitcoin in Mt. Gox, he said, and expected none of that money to come back.

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