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Does Mt. Gox Mark The Beginning of the End for Bitcoin?
On or about February 23rd, 2014, Mt. Gox (on of the larger bitcoin exchanges) collapsed. The MSM (mainstream media) had a field day...
I warned everybody that the fall of Mt. Gox was simply a poorly managed small business getting its just dues. To correlate the fortunes of Mt. Gox with the fortunes of the Bitcoin ecosystem is akin correlating the fortune of the World Wide Web with that of Pets.com or Alta Vista in the 1990s. Sounds silly doesn't it? Well, fast forward 3 weeks from the Gox'd experience and this is what we find... 
The week after the media frenzy regarding Mt. Gox started to fade, the price of BTC (bitcoins) started a dramatic phase of price stabilization. This apparent price stabilization was verified by the very dramatic drop in standard deviation.
If we drill down to the weeks in question, we find... 
This price stabilization has occurred even before the wide scale adoption of UltraCoin.
As always, I'm looking for:
- financial capital
- intellectual capital
- developers, management and sales/marketing expertise.
If you have any of this in abundance, hit me at reggie@ultra-coin.com.
- advertisements -
"bitcoin a bigger scam than.................................just about anything."
With all respect, God.
Bitcoin's rendition of a digital money-god may not ever be as big as the one the globalist banksters have planned for what is left of any world after the planned mass-population culling. That is their evil cyclic agenda, but not necessarily what will happen.
Gonna be interesting to see how a bunch of bitcoiners face off with the banksters well paid for in gold world's best hackers, intelligence 'companies', and the military digital-warmongers of babylon in the struggle to keep the money-god alive so all can continue to be controlled, and dominated by this thing.
Meh, who cares. What's on TV?
http://rt.com/on-air/rt-america-air/
Gox suckers
Bitcoin is just getting started. Lots of time to get in still.
BUY BITCOIN!!
It's just a really good buying opportunity. BTFD!
/sarc
Yes it is. fonestar can't think of another incident in memory where one product (Bitcoin) has had so many advantages over its competitors (nationalist shit paper). Don't stay fonestar didn't warn you when Bitcoin hits five and six digits in the coming years.
.000001
I own silver. But that doesn't mean there aren't other things you shouldn't own. Nothing beats Bitcoin for transfer of payment outside the western banking, legal apparatus. Nothing.
You know fonestar I agree with you on the money transfer thing overseas.
Bitcoin could provide a divine purpose.
But only to transfer wealth, not store wealth.
Stack On
As is plainly evident Reggie has developed a business "trading in and out of" Bitsh!t. No wonder that transfer of wealth is the supreme theme of him here - into Reggie's coffers that is. "store of wealth" - not so much...
"Reggie was finally proven wrong" - oh my - this demonstration of uber-arrogance is really getting weird. Get a life, reggie! You have been proven wrong many times before - for instance, does "PEI going bk in 2012 at the latest" ring some bells? You still haven't answered those questions re. PEI on your blog. Of course, being so pre-occuppied with 24/7 self-cheerleading you probably didn't have time for that - over the past 15 months or so...
Your intellectual dishonesty and your permanent bragging about how great you are - get some help, really...
What's the difference between 100 "digital" currencies, or 100 "sovereign/fiat" currencies?
Especially when the digital is denominated in the sovereign.
It's possible to build an infinite number of Bitcoin clones, either exact clones or with variations. And because crypto currencies are viewed as a hobby by some group of computer geeks, they will continue to created new alt currencies even if it's not profitable to do so. My impression is that most of these alts barely break even financially, but since it's a hobby that doesn't matter terribly much. Just like building model railroads, you don't intend to compete with Union Pacific.
And if you lose the coins you mined on some scam exchange, that's not good but it's not the end of the world, for the same reasons. You still have your mining equipment and you can start over with some new venture.