--- title: "Meaning & Key Takeaway of: In the longterm for Bitcoin, Gox needed…" description: "\"In the longterm for Bitcoin, Gox needed to go away.\" — Erik Voorhees" image: "https://sms4smile.com/quotes/i/64e/erik-voorhees-22378_away_in-the-longterm-for-bitcoin-gox-needed-t_840296.jpg" --- # In the longterm for Bitcoin, Gox needed to go away. ![“In the longterm for Bitcoin, Gox needed to go away.” quote by Erik Voorhees](https://sms4smile.com/quotes/i/64e/erik-voorhees-22378_away_in-the-longterm-for-bitcoin-gox-needed-t_840296.jpg) [Download](https://sms4smile.com/quotes/i/64e/erik-voorhees-22378_away_in-the-longterm-for-bitcoin-gox-needed-t_840296.jpg) [Open image](https://sms4smile.com/quotes/i/64e/erik-voorhees-22378_away_in-the-longterm-for-bitcoin-gox-needed-t_840296.jpg) > “In the longterm for Bitcoin, Gox needed to go away.” [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. For Bitcoin to thrive long‑term, harmful platforms like Mt. Gox must disappear, allowing the ecosystem to mature. **In simple terms:** Bitcoin needs bad actors removed to grow. Key Takeaway Support decentralized, trustworthy infrastructure. Themes finance cryptocurrency trust decentralization Mood cautious optimistic Type strategic analytical When to use this quote - investor decisions - regulatory policy - platform selection - risk assessment Key Concepts market dynamics risk management Questions to Reflect On - What safeguards can prevent future failures? - How can the community ensure resilience after a major collapse? A Different Perspective Eliminating one bad actor doesn't guarantee overall health. ★ ★ ★ ★ ★ No ratings yet [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [Currency](https://sms4smile.com/quotes/about/currency/) ## Related quotes > [The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.](https://sms4smile.com/quotes/erik-voorhees/the-number-of-industries-communities-habits-traditions-and-even/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is absolutely the Wild West of finance, and thank goodness. 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Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.](https://sms4smile.com/quotes/erik-voorhees/mt-gox-was-a-teachable-moment-for-everyone-in-the-bitcoin-community/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is very ideologically fulfilling, it's my form of political activism, but it's also a huge business opportunity.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-very-ideologically-fulfilling-it-s-my-form-of-political/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [I definitely felt the desire to, like - I definitely knew there was an elsewhere. 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I will never get any of that back.](https://sms4smile.com/quotes/erik-voorhees/personally-i-had-over-550-btc-in-gox-i-will-never-get-any-of-that-back/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Whenever the price of cryptocurrency is rallying, people start spending a lot more.](https://sms4smile.com/quotes/erik-voorhees/whenever-the-price-of-cryptocurrency-is-rallying-people-start/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [You cannot have an asset that goes up in price 1% every month or 1% every six months or every day without people starting…](https://sms4smile.com/quotes/erik-voorhees/you-cannot-have-an-asset-that-goes-up-in-price-1-every-month-or-1/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-open-source-global-and-requires-no-permission-from-anybody/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The number of industries, communities, habits, traditions, and even interpersonal interactions that Bitcoin has the potential to revolutionize is massive.](https://sms4smile.com/quotes/erik-voorhees/the-number-of-industries-communities-habits-traditions-and-even/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin is very ideologically fulfilling, it's my form of political activism, but it's also a huge business opportunity.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-is-very-ideologically-fulfilling-it-s-my-form-of-political/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.](https://sms4smile.com/quotes/erik-voorhees/mt-gox-was-a-teachable-moment-for-everyone-in-the-bitcoin-community/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Like the Internet, Bitcoin will change the way people interact and do business around the world.](https://sms4smile.com/quotes/erik-voorhees/like-the-internet-bitcoin-will-change-the-way-people-interact-and-do/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out…](https://sms4smile.com/quotes/erik-voorhees/the-value-of-bitcoin-is-astronomical-but-the-price-goes-all-over-the/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Unfortunately, slow and steady in any financial market is actually impossible.](https://sms4smile.com/quotes/erik-voorhees/unfortunately-slow-and-steady-in-any-financial-market-is-actually/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Credits in your PayPal account are really just USD-backed - they are not a unique currency themselves. 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But it's faster and far more convenient than traditional exchanges.](https://sms4smile.com/quotes/erik-voorhees/shapeshift-has-no-user-accounts-signup-or-registration-process/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) > [Bitcoin will hit thousands of dollars per coin, because it's worth at least that much, or it's worth zero.](https://sms4smile.com/quotes/erik-voorhees/bitcoin-will-hit-thousands-of-dollars-per-coin-because-it-s-worth-at/) [Erik Voorhees](https://sms4smile.com/quotes/author/erik-voorhees/) [Explore all 27 Erik Voorhees quotes ](https://sms4smile.com/quotes/author/erik-voorhees/) ## More Away quotes > [I once told someone I could act. They totally bought it. I've been getting away with it ever since.](https://sms4smile.com/quotes/akshay-kumar/i-once-told-someone-i-could-act-they-totally-bought-it-i-ve-been/) [Akshay Kumar](https://sms4smile.com/quotes/author/akshay-kumar/) > [I don't like being away from home. 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