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Mt.Gox "Closes All Transactions" Again "To Protect Site And Users"
More humor from Mt.Gox, which has once again "temporarily" suspended all transactions. Can it just make it permanent already, and get it over with?
Just released statement from the doomed exchange named after Magic: The Gathering.
Dear MtGox Customers,
In the event of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.
Best regards,
MtGox Team
Meanwhile, here is an artist's rendering of what Mt.Gox' logo should have been all along:
h/t @ButtCoin
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Huh, using computers to heat your house is about as intelligent as generating electricity by sticking a wind turbine on top of your car (that was proposed by some media dumbshit)
I forget: Why does our compter center at work need air conditioning?
Open your computer. Unplug your fan.
Set the clock. How long does it take for your computer to melt?
Caution: Best done in your fireplace or outside.
computers can burn a house down! but you claim they canT heat one?
Wait, I think I misunderstood you. The guy you are talking about isn't buying the bitcoin-mining servers. He's simply renting out his house to store them in? I guess as long as he's not paying the electric bill.
My point is justifying bitcoin mining because it will heat your house would be stupid in this time when bitcoins are harder and harder to mine.
A pool of investors paid for the rigs. The guy is an investment member, and he also provides the space for the racks. Whether he gets paid for the floor space for the racks was not in the report.
The report also did not go into detail about how the electricity bill gets paid.
I would guess that the cost of electricity is overhead, which either the pool pays, if not enough coins are mined, or which the coins pay if successful at mining.
We can safely assume that the house owner is not stuck with the whole electric bill.
The report did mention that the success rate for the current system (more rigs coming) was about one coin a day (average of course). That should provide a profit margin for operating costs. One can imagine return on capital within a year or so, if the price of BTC doesnT drop much further.
I would wonder, what is he going to do with all the heat next Summer?
I'll buy that for a dollar
https://www.youtube.com/watch?v=XY0r9AGs79k
this will turnout well
Always believe in...
http://www.youtube.com/watch?v=gSq8ZBdSxNU&feature=kp
Fuck Fonestar.
Somebody already did.
Virtually.
His name was Fonestar Fonestar...
Please understand the Euro is a test piece to iron out unforseen problems before a global system is established. There will also be a virtual currency utilyizing a phone and biometrics that will be implimented once the bugs are worked out:
http://www.popsci.com/article/gadgets/you-can-pay-fingerprint-samsungs-latest-phone
Revelation 13:16-17 And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; (17) and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.
Its who you give your mind and hand(work) to that becomes your master!
As soon as you start quoting a religious text, you also start to destroy any credibility you may have had.
i dunno, ... when someone quotes the Book of Revelation,
it might actually be hidden sarcasm...
Credibility with man is not what I seek.
Yiou see its the old adage:
If I am wrong then we both died worshiping what we believe was right.
Me the Most High God and His Son and you based on your avatar possibly the lust of the flesh, lust of the eyes, and pride of life.
But if your wrong well then it becomes an incredibly difficult sistuation you find yourself in my dear friend :o)
John 12:25 He that loveth his life loseth it; and he that hateth his life in this world shall keep it unto life eternal.
Eternal Life together with the God of War?
Such a decision does not take long for me to make.
The god who demanded that Abraham kill his son? The god who killed someone for pulling out? (The Catholics are correct: birth control is a sin, penalty of death.)
Shit, I can'T list them all and this author has already listed every kill:
How many People did God slaughter?
But of course your are correct when you say: "they deserved it." /s
Well He does make the rules so I guess you only have three choices of the two that exist:
1) you die and are stuck in the dirt(fantasy)
2) you die and go to hell(pretty good odds)
3) study the Word of God and worship the Father through His Son(my prayer for you)
Revelation 21:7 He that overcometh shall inherit these things; and I will be his God, and he shall be my son.
So true.
Mt GoneX
But wait: I thought cryptocurrencies spelled the end to fiat? Lmfao. Note to self: unless the issuer of currency has a military.....
A major proponent of BTC had this to say:
http://two-bit-idiot.tumblr.com/post/77745633839/bitcoins-apocalyptic-moment-mt-gox-may-have-lost
"This is catastrophic, and I am sorry to share this. I do believe that this is one of the existential threats to bitcoin that many have feared and have personally sold all of my bitcoin holdings through Coinbase.
To do so, and not give you the same information, would be dishonest and immoral. I am a risk tolerant investor, but I believe this will be catastrophic for Bitcoin, both as a currency and as a fledgling industry.
If this is a hoax, it is one that I am fully blindsided by. I fear, however, that it is not. "
First out wins. Ponzi's are like that.
Talk about your chicken littles.
I guess when the COMEX implodes PMs will be worthless due to government regulations as well. lol
The usual, and expected, twisted and inverted logic from tmosley. Amusing as it is sad. When the bitcoin exchanges fail, bitcoin prices collapse. This is due to the fact that bitcoin do not actually exist, and have zero intrinsic value. When comex fails, physical gold prices will go to historic highs. And this is due to the fact that physical gold does actually exist, and has a 5000+ year history of intrinsic value.
All that doublethink.
All that emotional attachment to previous choices.
The difference being that when large exchanges like the comex default the physical goes up in price, such as Nickel did a while back. What I am seeing here is that the price is dropping on every exchange, meaning, IMHO that this has caused a loss of confidence.
Your comparison with the magic the gathering exchange, I’m not going to give it legitimacy anymore by calling it MtGox, it a flawed one. This exposed a flaw and vulnerability of bitcoin, one of many to come, who says it can only happen at an exchange. A failure of comex would only put light on the fact that a paper promise is far from the physical commodity, this is already known. If someone did not receive their silver on a comex contract, I don’t think their reaction would be to blame silver. I do however thing that people that have lost their money due to the Magic the Gathering exchange are blaming Bitcoin as well as the exchange.
Some day, your bank will lock its doors "to protect the bank and its users".
Mr and Mrs Gox along with their tech guy were spotted drinking Vodka on a passenger liner headed towards Perth. Rumor has it that the tech is carrying the missing bitcoins in his head. They intend to get him into rehab once they reach safe haven.
Mark Karpeles, Baron of Bitcoin.
WasnT bitcoin supposed to save us from the Robber Barons?
MtGox charged 0.5% on each trade. Robber Baron indeed. What's the typical premium at a Local Coin Shop?
<--- Mt Gox lost 744,000 (or more!) bitcoins
<-- Mt Gox lost less than 744,000 bitcoins (please respond and tell us "how 'few'?")
I'll ask my dealer sometime soon, "how many coins he lost?"
I believe everything on the internet and when some blogger tosses up a PDF saying Mt.Gox lost 740k who am I to cry bullshit.
We donT have to believe this exact number.
The point is, Gox lost OPC (Other Peoples Coins).
YOU were advising people only a week ago to go sign up new for MtGox.
Was that /sarc?
Yup, just checked the gold and silver, and their still working.
As fog in the sun
Shades of money dissipate
leaving just regret.
The geysers spurt hot
Water to the sky, then it
Seeks its own level.
In momma's basement
Fonestar hurls his computer
"Satoshi, you lied!"
Why do you lie about things like that? You know damn well that he has been calling for this very thing for ages, and that it will be a GOOD thing for bitcoin in the long term.
But you just say any kind of shit in a weak, idiotic attempt to make others feel bad. Why do yo do that? What is wrong with your brain that makes you do that?
Tmosley, you may now comlete your transformation into Trav777 by beginning to rail against the darkies.
You are simply a total dick, and I have nothing more to say to you.
Bitcoin = trash. Always did, always will.
But please continue playing the usefull idiot for the NSA and powers that be.
It's not just your anti-Bitcoin stance that fonestar hates. It's the fact that your obviously a total fucking moron if you think the NSA would release something like Bitcoin.
Yes. Yes of course.
The official crypto currrency, the approved one, will be a lot different from the testbed known as bitcoin.
Why would anyone adopt a cryptocurrency that is any different from bitcoin?
That's like saying the gold standard was a scheme to get people to accept worthless iron ingots as money.
Because it will be "Legal Tender".
The Sheeple will be able to pay their Tribute with the approved cryptocurrency.
It will be easy. Much easier than bitcoin. The Sheeple will like it.
Professional Software Developers will create a User Friendly system to replace bitcoin. A concept which Open Source Developers struggle with.
Where the FUCK did I say ANYTHING about "darkies"?
You have terminal fucking brain damage.
Time to touch up your SSN tattoo.
I see that all those stars in your eyes for your latest (and most lately failing) get-rich-quick scheme are interfering with your ability to read.
I did not say that you had done so, I implied that you might as well start doing so, as you have otherwise entirely co-opted all the defining, and disagreeable, characteristics of Trav777.
You have met the enemy, and he is you.
You know what, go fuck yourself, you race card playing mother fucker.
You just lie and lie and lie. That is why I assaulted Trav. That is why I assaulted the anti-gold trolls. And now that I why I assault YOU.
What is wrong with you brain that makes you think it is ok to erect strawmen that are diametically opposed to people's actual positions? I want to know.
Tmosley, you are pathetic.
Your desire to get rich quick obviously blinds you to the broader reality of the schemes to which you latch on.
Even in your raging bitter hate, I feel sorry for you.
It's funny that you accuse me of "turning into Trav" while you are the one adopting his tactics.
You latch onto some sort of ad hominem and just repeat it over and over in the hopes that everyone will think it is true. But you are even worse, in that your stance on an issue will change just so you can hurt someone else. YOU ARE NOW CALLING SILVER A GET RICH QUICK SCHEME.
Honestly, what is going on inside your little head where you fixate on someone as an enemy and then just say fucking ANYTHING to try to hurt them? That is some sort of personality disorder.
As I explained before, you lying sack of shit, silver is not and was not a "get rich quick" scheme for the average silver owner or buyer in general, but in early 2011, when its price was spiking, it clearly was a get rich quick scheme for YOU, with your wild sky-high predictions of imminent $200 silver and parity in the gold:silver ratio. You've obviously now just transfered your hopes to bitcoin. And next month it will probably be something else.
Your attempts to distort my views and arguments, and those of others, speak for themselves.
Satoshi never lies to his faithful moron.
'Satoshi never lies to his faithful moron.'
I feel you meant something else by this but forgot to add a comma.
I prefer it this way.
LOL!
"CAUTION: Fonestardation in progress"
You nailed that one Foney. LMAO
Tried to tell twits like fonestar about sh*tcoin, but nooo...
Why? What happened to Bitcoin you fucking moron?
Board member Charles Shrem stepped down in late January after being arrested and charged with money laundering in connection with his bitcoin company.
http://www.marketwatch.com/story/mt-gox-ceo-resigns-from-bitcoin-foundat...
That ought to be a big red flag to anyone with half a brain cell, tard.
Shrem, Gox, Silk Road, got anything else?
"Shrem, Gox, Silk Road, got anything else?"
Isn't piling on considered uncouth?
CIA, NSA, FBI, DHS, COMEX, NASDAQ .... none of that alters the value of USD (silver) ... the FRN ponzi on the other hand... that seriously hurts people who would like their currency to also be a stable store of wealth (aka Money).
DDos network attack, coordinated Central Bank warnings, Bring out yer dead.
Last but not least, vicious attacks by Rawdogletard... which one of you is this guy? Love his stuff! ;)
Why the hostility dude?your superiority surely endows you with humility!no?
As you said,bitcoin is for hackers,crackers etc.but what's the endgame or even purpose.or is it a game,cos someday you're gonna need to buy shit like food,clothes nappies,a car,a house,medicine or even a blowjob.
How are you going to achieve such mundane purchases.
I'm not knocking your view phonestar.but I am curious.
The real world ain't gonna wait forever for the future.and you sure as shit don't know what that future is.neither do I.
You can't hack a free lunch.....
Die already gox!
you canT hardly kill a Zombie.
This just proves Bitcoin isn't too big to fail and will only strengthen it. All you Kenseyians in Gold Bug clothing are going to learn a few lessons from the 1849'ers.
@tmosley
I don't know why all insecurity, trying to put fonestar and others down to make themselves feel better is very childish. If you disagree, have an inteligent conversation about the subject.
omg! were someone's feelings hurt?
Someone, somewhere made a killing on this before they flipped the switch. Nothing new under the sun.
Next? Or is this site going to keep whipping this dead donkey?
Ooo, hey, Donkey Coin!
The people who were doing business on that exchange for 3 weeks while it was malfunctioning knew the risks of staying there, they should of sold-off and cashed out whatever they could.
The bitcoin community as a whole has already gotten over the loss of GoX, if indeed you do want to call it a "loss" most involved with other exchanges see the death of that exchange as a blessing as business can now begin to continue as normal without the side-show freak Karples gunking up the works generating meaningless news articles full of fear and uncertainty.
And to gold bugs, gold is completely susceptible to the same problems, what happened was, there was a "run" on bitcoins that were on the gox exchange, and since Gox was coded like shit the coins had already probably been stolen due to fraudulent withdrawals, same thing would happen to any major gold exchange if all of the sudden everyone wanted their ounces.... and the paper price of gold would plummet , which in-turn lowers the physical price as the paper price is the only price anyone looks at.
Essentially someone our a group of someone(s) found an exploit on their poorly coded site that allowed them to withdraw coins without lowering their balance in the exchanges software(not bitcoins), the fault lies completely with the exchange for using such an open insecure system to handle their site to wallet transactions, most other exchanges caught on quick and the downtime on exchanges that were coded better was minimal.
It's not bitcoins fault that the people running that exchange were so stupid as to never even make sure the people withdrawing coins actually owned those coins. . . the accounts should of been more segregated and buffered like they are on all other major exchanges.
The only winner in this situation is the Banksters, if you want bitcoin to crumble, you essentially want the Federal Reserve to win, because a piece of shiny metal isn't going to replace global on-demand digital credit system, its too slow to even play in the same ballpark.
Bitcoin is digital gold.
Gold went from 200$ an oz, to almost 2000$ an oz and is slowly crawling back down to 800$ an oz.
Bitcoin essentially made the same price movements gold did more or less the charts look the same, in the eyes of a global marketplace, there is no difference between the two assets, in the end utility will win-over nostalgia.
Gold
https://dzswc0o8s13dx.cloudfront.net/goldcore_bloomberg_chart10_17-01-14...
Bitcoin
http://media.futuresmag.com/futuresmag/article/2014/01/21/Bitcoin%20Char...
No difference in my eyes.
If it ever gets sooooo bad where I need bricks of gold to buy bread . . . who cares at that point? 90% of the population wont have gold, and 90% of the population wont even want it , they would rather have food and heat at that point, and gold can not give you what it does not have, if your hungry enough you will trade a trunk full of gold for a sandwich.
Outside of a complete apocalypse taking place, gold is essentially useless for the common man.
Assuming modern civilization will continue onwards . . . and fiat slowly dies off, we will need a digital system to transfer payments back and forth around the globe.... something gold can pretty much never hope to do securely without a centralized "gold bank" that will inevitably rob and enslave you.
Gold is phase one to banker oligarchy
Gold->Fractional Gold->Banker Class ->FIAT->Slaver-Collapse
Rinse / Repeat
Bitcoin->Progress ? Profit?
No vicious Circle Trap There.
All that has to happen is the exchanges need to be more secure , not an impossible task, and in the end , the entire point of bitcoin is de-centralization (moving away from central banking models).... everyone will be responsible for their own storage.
Shill much?
umm, gold isn't really "crawling back to $800". It seems to be crawling upwards past $1300 on its way to $1400. Nice try though.
The hole in your comparison of gold vs. BTC is that only a moron would hold paper gold.
Even the original logo has a big golden arrow flying up your X, shoulda been a hint.
Everything you need to know about buttcoin-
http://s.wsj.net/public/resources/MWimages/MW-BV286_mt_gox_MD_2014022508...
Mt Gox isn't bitcoin imbecile. You are only capable of thinking what I, Kim Jong Un, and my evil buddies in USA government tell you to think. Thank you for your slavery.
I shall use you until I don't need you anymore, then toss you aside and feed you to the dogs. Have a nice day.
Eat me?
After you Koreans feed your dogs, then what do you do? Eat them?
So that means, you can EAT ME!
Although... i really donT like the part about "you will use me...", but alas, your little Korean dick wonT hurt all that much.
Mt Gox isn't bitcoin imbecile.
Tell that to the man holding up the sign, dipshit.
i bet good $$$ you don't bathe regularly and have a pet turtle.
I bet bad money (BTC) that he looks like a turtle, same as his Dear Leader.
Bitcoin will prevail, as always. You haters will one day look back and wonder why you hated something so much and didn't see the opportunity presented to you. Enjoy your paper rectangles my dear peasant slaves. I am glad you follow blindly without even thinking. As my old pal Hitler said, "What luck for the rulers that men do not think." Ah, such a perfect statement. Not only do you miss the opportunity presented to you, you even want to collect taxes for me! You are all suckers, which is wonderful for me, so to thank you, I shall grant you all 5 paper rectangles with pictures of dead guys drawn upon them. I know you will spend them only at vendors who will properly report that income to the authorities! You were all born to be slaves. You certainly aren't a true warrior and leader such as me, Kim Jong Un.
Hmmm, I wonder if there is a historical example that could be compared to the BTC phenomenon? Tulip Mania
The main difference being that after the dust settled some nice tulips could still be bartered for some nice two lips (aka pussy). BTC proponents would be wise to invest in a Real Doll before the bottom.
MtGox will probably be sold. 1 million AML/KYC verified accounts of known traders is worth a lot. I can see one of the Chinese exchanges stepping in here looking for a more international footprint.
"Dear Valued Customer....."
This is great news, fuck Mt. Gox. The sooner they die the better. I wish they would stop playing stupid games and get it over with. Seppuku is the only solution to this mess, and once it is carried out, value will start to go up again. There are a lot of people that are laughing and thumbing there noses in an "I told you so" type of way, in a few short months we will hear nothing but crickets from this crowd. In fact the only reason we are hearing from them now, is simply because they took a brief moment to pull their heads out of their asses to pontificate to the world in all their self righteousness, because the moments that make them feel important are very few and far between so why not scream the loudest while everyone is looking.
I still can't understand why so many people were keeping their coins on an exchange anyway, one of the main value points of Bitcoin is the ability to be your own bank and do it securely without much effort. Let this be a lesson to the uninformed.
But for your dream of bitcoin ruling the world, there has to be an exchange. Yes, you can keep your bitcoins to yourself, but if you ever want to spend them? Each merchant is not going to have the infrastructure to validate your bitcoin. They will use an exchange. Just like merchants now swipe your ATM card and the bank validates that you have money in your account.
The bitcoin network automatically validates the transaction, that's what the mining machines do. The merchants don't need an infrastructure other than a wallet program that says "hey, I got money from this wallet address" (or even the guy at the counter looking at the wallet on the register) which would be a trivial thing for any programmer to create, all the validation occurs on the decentralized network. No exchange is needed to spend bitcoin is the point I am trying to make. The only purpose for the exchanges is to convert said bitcoin in to government currencies or other crypto currencies, or for speculation similar to Forex.
Believe it or not, this is probably priced into the market and bitcoin should rally from here.
The reason why is that everyone was waiting for Gox to pull the plug. It was pretty clear that something was going on, but no one wanted to admit to it. Uncertainty is always bad for the markets. We all know that.
The uncertainty is gone. The other exchanges need to demonstrate that they are on the up and up, and that their security is better. They should require that you take "delivery of your bitcoins" and get them out of the exchanges. This is not unique; my bullion dealer does the same thing. I have 21 days to take delivery. They are NOT a storage vault. Why wouldnt bitcoin behave in the same way.
Now that we can trade again, the exchanges should show their potential clients that it is a fair and safe market.
The hacking bullshit affects wallets. I think the malleability problem is an excuse that Gox is using to cover for lousy management. Get the wallets off the exchanges or pay higher commissions for higher security. For a fee, provide wallet security on the exchange if your are a trader.
It is the evolution of the digital currency paradigm.
Its as fucked up as any other market.
Fonybuttstar, Hows that 500 level feeling? Here comes ZEROOOOOooooooooooo
LOL
If you can't hold it in your hand, you do not own it. Period (.)
GOLD - Everywhere you want to be (TM)
I am curious about the attraction to gold and silver. And not in their relation to bitcoin, but in general.
If we are facing a stock market collapse and a housing collapse then wouldn't that be called a deflationary recession/depression? If that is the case, wouldn't prices go down? Prices of commodities such as Gold and Silver should go down in that situation.
In order for gold and silver to rise, you would need "inflation." Thats not going to happen if all of the prices are dropping and people are spending less.
In order for gold and silver to rise you would need the dollar to cease being the reserve currency. I don't see that changing anytime soon either. Who will replace it? The Euro? The Yen? The Remembi/Yuan?
Short of the need to inflate to support a huge war effort (it would be more of a clean up effort) we are not going to see hyperinflation.
I own some gold and silver. But I am selling some of it during this rise. Not all of it. I still have enough to get me "through".
Help me to understand how this gold surge is going to happen now, if it hasn't happened already.
Yes, it will go down just like in 2008. It happens because of manipulation by the banksters to create more fear to keep the plebes from running to safety of monitary metals (and thus keep them herded into their fraud game) and back into the paper scams.
When it goes down again, I just buy more... like all of the other smart countries that see what is coming.
Remember the spike in the metals after 2008?
Get ready for an even larger one.
It's baked in.
It's to protect against the nothingness of everything else in relative terms.
All assets will drop in price, silver and gold having a bit more staynig power than BitCoin.
If things get bad TPTB will simply take your gold as in 1933.
The best asset, but it's not mobile, is paid off in full productive land and real estate that generates income in the lowest tax environment possible.
If everyone is conducting business in cases of soda, you will still be paid the rent by your tenant.
Hyperinflation is better viewed as a "rejection of currency". Yes, when the currency is rejected, the Overlords need to print more and more hoping that the MIC suppliers will accept a larger and larger amount in exchange for armaments. However, this should best be viewed as the MIC's suppliers rejecting smaller quantities of currency.
We might well have a deflationary period before the local currency is finally rejected. I want to place the word "short" in front of "deflationary period" but then i remembered that i exited the prediction business long ago (as a loser), so i'll leave it at that.
In any case, feel free to try to time any possible deflationary period. Buy at the very bottom like a pro.
And I wish you luck obtaining PMs when the upswing kicks in. You will need it.
Now imagine this, a cryptocurrency, relying on huge amounts of electricity (ENERGY enormous), is going to survive this swing down to the deflationary bottom and back up to the inflationary highs.
Now imagine, Realcoins surviving that scenario. Yes, Realcoins will lose nominal value at the deflationary bottom. But I am sure I will be glad to be holding Realcoins at the inflationary top.
@oldballplayer - yes, rejection of fiat is an assumption in the "hyperinflation" scenario. But remember that the USD is not the only fiat out there. China, India, etc. have many more people and a much longer history with gold, plus they are not reserve currencies and have a high risk of inflation. For example despite years of assuming yuan appreciation we saw the Chinese central bankers weaken their currency this week.
Inflation in any of those countries, or even the "shock" of a smaller country introducing fear into the equation can cause precious metals to spike. So owning precious metals is part hedging, part speculation and part greater fool theory.
Note: I don't own physical metals, I'm just a curious observer / spot currency trader.
Thanks to all of your for your answers. I appreciate the perspective.
As I have been indicating for months, i was taking crypto-profits and buying gold and silver. I cashed out of some of those during the most recent upswing.
I am pretty much out of the crypto world--But I am not going to dismiss it. i think there is still some upside in the paradigm, and if I own just a couple of coins it will make me pay attention.
I am sold on the concept. I am not sold on the current format.
I don't know about the rest of you crazy stackers, but I love sleeping at night knowning my gold and silver cannot be hacked.
Ditto - but.... cold storage of Bitcoins (paper or brain wallets) can not be 'hacked' either.
Lost or stolen like gold and silver - yes - but not hacked.
but they can't be used either, and for that matter, they aren't automatically updated to reflect any electronic transactions so IF in fact you "cold stored" some bitcoins on paper but another wallet was active with the same information in it , and used, maybe you forgot, maybe you got hacked
THEY ARE GONE http://youtu.be/4TlPo0yCSa4
Bitcoin is already rising on this.
I genuinely think this will be a pivot event that launches bitcoin higher -- here you have the failure of a fairly large exchange (due to fraud or mismanagement) and essentially nothing happens to the rest of the ecosystem. There's not many currencies that could take that kind of punishment and not need intervention.
Whoever bought at $430 earlier today has already cleared a 20%+ profit in under 8 hours.
> nothing [sic] happens to the rest of the ecosystem
Reuters claimed (*): Price drop from beginning of February to recent was 40%.
40% drop in the ecosystem is "something" afaik.
(*) You donT need a link. You tell me, using your math abilities: what the price drop has been since the first news (Feb. 2014) of getting goxed down to $430.
Amuse me, please.
LOL
So Mt Gox shuts down transactions, people can't get their money out, and this will send bitcoin higher.
Ohhhkaay...
https://bitcoinaverage.com/#USD
Sure looks higher to me.
V for Vendetta
that's just volatility - it can reverse in milliseconds to another 40% down and even that is also just normal bitcoin volatility.
Look at this chart: clearly you can see the giant spread, people will sell for 1500 but won't pay more than 480 to get btc. No one really wants it but bag-holders & those bag-holder are stepping right up to be bankrupted pronto - Thu, 02/27/2014 - 13:54
Update Sat 03/01/2014 - 06:39 http://flic.kr/p/kyKgtF localbtc reports $5.76 USD per BTC
And it's gone!
They haven't cleared jack until they sell their bitcoins and convert them into fiat.
Not unless they sold them again. The world is full of stories of people who had big profits on the stock market; if you don't cash it in; it's not real. And these people you mentioned; they did not cash out; because they're delusional; that's how tulips grow; right up to sky, until they don't.
"Whoever bought at $430 earlier today has already cleared a 20%+ profit in under 8 hours."
Jesus tapdancing christ you guys allow yourselves the delusional luxury of selecting fragments of history and calling them normal.
Let me paraphrase you with an injection of REALITY and a more inclusive timeframe:
"Whoever bought at ANY TIME during the previous 97 days is STILL underwater and has lost as much as 58% of their investment (as of this posting)."
If you want to call it "a trading opportunity with routine 15% daily swings" instead of "an investment", then have at it, but don't you dare ever again say that it's a currency for the masses to receive as the denomination of their wages and their grocery purchases.
It will be $100 in no time flat. You're mistake will be grave, and the grave is where all bitcoin is headed.
When we who know better stop pitying your folly then things will get ugly.
That's when we open our own exchanges and pull a MF-Gox on ya'll and get a boat and some .9999 fine ballast with the proceeds.
Should work out splendidly.
only 2 kinds of bitcoin humpers.
the imbeciles.
the venal.
we'd be better off rid of them all.
It's always temporary; when Nixon suspended payment of dollars in Gold; it was temporary; look up his TV speech.
As I have said for weeks: MFGox. Those of us who expected this got out back in April. I have called a $500 bottom for some time. Keep an eye out for my piece regarding the fractional reserve bank that was MtGox. For up to date info, follow me @BTCTalks
and yet said not a word. Ever.
The real bottom is 500 pennies.
A bird in the hand is worth two in the bush. Keep stacking.
Please, no more talk of fisting. You'll get Fonestar all hot and bothered.
'The scandal may cost customers dearly.
At the Tokyo office tower housing Mt. Gox, bitcoin trader Kolin Burges said he had picketed the building since February 14 after flying in from London, hoping to get back $320,000 he has tied up in bitcoins with Mt. Gox.
“I may have lost all of my money,’’ said Burgess, next to placards asking if Mt. Gox is bankrupt. “It hasn’t shaken my trust in bitcoin, but it has shaken my trust in bitcoin exchanges.’’'
One shouldn't laugh.
This pitiful fool was picketing a building, hoping to get his $320,000 back ? And we're not supposed to laugh. Sorry, I'm laughing. A lot of human beings need adults to help them out.
He was probably waiting for the Tokyo police to bust down the doors and pry open the "vault".
A devastating loss to be sure, but thankfully he has investments in World of Warcraft gold to fall back on.
You never go full retard.
of course we're gonna laugh.
"Shitcoins hasn't shaken my faith in being shit on, only the fans that hurl it into my eyes and nose"
mwahahahahahaha
I nearly fell off my chair when I read the report ... but I'm a naturally polite person.