Topic: Mt. Gox vs. The Fed (Read 832 times)
did mad max get knoxxed? is that what really happened?
perhaps i can point out a few things that i find both troubling and important...
1. the missing trillion$ i was referring to was bank bailout money that has turned up "missing"; here is an article that may shed more light;
http://www.bullypulpit.com/billsardi/2010/09/about-that-missing-9-trillion.html
2. Mt. Gox was a massive failure but in comparison its demise was good for bitcoin in many ways... if you lost money (i did not) then i am terribly sorry for you, but if those coins are never recovered then the supply of BTC has just gone down setting up a situation where because of demand the value of existing coins goes up, meaning good news for those of us lucky enough to be on the left side of the decimal point. in addition it shines as a gleaming example of what NOT to do and makes way for more professional companies.
3. $9-$10 Trillion of missing inflated USD/FRN's is bad because it debases the dominant world economy (even more so than before, like we really needed that) and hurts a lot more people (by factors of millions) than the few by comparison that lost money in Gox WHICH it should be noted that people who had money there let it ride for the purposes of speculative investing, for if not then WHY KEEP YOUR MONEY IN GOX?? and if you are speculatively investing then as a speculator you damn well better be prepaid to lose your ass. If you believe in Bitcoin and are a holder then why in the hell would you not have your coins in your own wallet under your own control???
4. the IRS wants to tax our bitcoins as property (which they desperately need to as the government can't seem to hold it's own when it comes to fiscal responsibility and needs to replace all that missing money) but this is very much akin to Mt. Gox telling the bitcoin community that we need to pay them a percentage or a royalty for all the Dogecoin that we are trading/mining between each other, so that they can replace their missing bitcoins. a system that they have nothing to do with creating, never dealt in and have no legal, ethical or even logical claim to, but we are expected to just roll over and take it. so to make statements like "we are bitcoiners not fiat exchangers" is bullshit because that fiat is being shoved down our throats so unless you can close your bank account today and burn every dollar you have, cut up your credit/debit cards and never spend another USD/FRN ever again and use bitcoin exclusively then it is more important to put it all in perspective and exercise our voices when it comes to protesting the shit plate we are being served.
5. on the blockchain we are able to investigate the movement of our currency so we can know in detail what is happening and when. however the USD/FRN are moved, subverted and disseminated so covertly that no one ever really knows how much there is, where it is going etc. etc... did you know that the same week that Mt. Gox went public with their "missing" funds that the largest bank in america Citibank also lost the same amount of USD/FRNs as Mt. Gox did paying fake invoices, but not a word was said. (http://www.bloombergview.com/articles/2014-02-28/citi-paid-400-million-in-fake-invoices)
6. i think that some of us here understand the grand scope of what is going on globally and why moving to exclusive cryptocurrency use is so massively important for the good of all mankind, but i can't help but get a sick feeling in my stomach when i see such myopic narrow mindedness and what is obviously a thread of shill detractors that are trying to draw our attention away from the REALLY important issues, like the economic slavery that is being forced on every single man, woman and child in the world.
7. if you lost money in gox, buy some bitcoin, put it in your wallet (YOUR WALLET) and then fight with all you might to discontinue use of all fiat currency and when (not if, but WHEN) we win, that little bit of bitcoin will be worth far more than you ever lost in mt. gox.
8.
1. the missing trillion$ i was referring to was bank bailout money that has turned up "missing"; here is an article that may shed more light;
http://www.bullypulpit.com/billsardi/2010/09/about-that-missing-9-trillion.html
2. Mt. Gox was a massive failure but in comparison its demise was good for bitcoin in many ways... if you lost money (i did not) then i am terribly sorry for you, but if those coins are never recovered then the supply of BTC has just gone down setting up a situation where because of demand the value of existing coins goes up, meaning good news for those of us lucky enough to be on the left side of the decimal point. in addition it shines as a gleaming example of what NOT to do and makes way for more professional companies.
3. $9-$10 Trillion of missing inflated USD/FRN's is bad because it debases the dominant world economy (even more so than before, like we really needed that) and hurts a lot more people (by factors of millions) than the few by comparison that lost money in Gox WHICH it should be noted that people who had money there let it ride for the purposes of speculative investing, for if not then WHY KEEP YOUR MONEY IN GOX?? and if you are speculatively investing then as a speculator you damn well better be prepaid to lose your ass. If you believe in Bitcoin and are a holder then why in the hell would you not have your coins in your own wallet under your own control???
4. the IRS wants to tax our bitcoins as property (which they desperately need to as the government can't seem to hold it's own when it comes to fiscal responsibility and needs to replace all that missing money) but this is very much akin to Mt. Gox telling the bitcoin community that we need to pay them a percentage or a royalty for all the Dogecoin that we are trading/mining between each other, so that they can replace their missing bitcoins. a system that they have nothing to do with creating, never dealt in and have no legal, ethical or even logical claim to, but we are expected to just roll over and take it. so to make statements like "we are bitcoiners not fiat exchangers" is bullshit because that fiat is being shoved down our throats so unless you can close your bank account today and burn every dollar you have, cut up your credit/debit cards and never spend another USD/FRN ever again and use bitcoin exclusively then it is more important to put it all in perspective and exercise our voices when it comes to protesting the shit plate we are being served.
5. on the blockchain we are able to investigate the movement of our currency so we can know in detail what is happening and when. however the USD/FRN are moved, subverted and disseminated so covertly that no one ever really knows how much there is, where it is going etc. etc... did you know that the same week that Mt. Gox went public with their "missing" funds that the largest bank in america Citibank also lost the same amount of USD/FRNs as Mt. Gox did paying fake invoices, but not a word was said. (http://www.bloombergview.com/articles/2014-02-28/citi-paid-400-million-in-fake-invoices)
6. i think that some of us here understand the grand scope of what is going on globally and why moving to exclusive cryptocurrency use is so massively important for the good of all mankind, but i can't help but get a sick feeling in my stomach when i see such myopic narrow mindedness and what is obviously a thread of shill detractors that are trying to draw our attention away from the REALLY important issues, like the economic slavery that is being forced on every single man, woman and child in the world.
7. if you lost money in gox, buy some bitcoin, put it in your wallet (YOUR WALLET) and then fight with all you might to discontinue use of all fiat currency and when (not if, but WHEN) we win, that little bit of bitcoin will be worth far more than you ever lost in mt. gox.
8.
Quote
that why US don't allow to germany to retrieve his gold (from FED) ... before 7 years.
the US store of gold "Ft. Knox" is more empty than "Mt. Gox" and has been since the 70's. We are bitcoiners, not fiat currency exchangers. And Mt Gox heist is the biggest scandal in the history of Bitcoin, since its creation in 2009. The amounts of coins stolen account for almost 8% of the total coins in circulation. It has destroyed the exchange rate of Bitcoin. So let's forget about the Fed, and concentrate more on getting the coins back from that greedy fat MF Mark Kerpeles.
+1
but there is hardly a word said about the $10 Trillion the has gone missing from the Federal Reserve.
that why US don't allow to germany to retrieve his gold (from FED) ... before 7 years.
That's interesting if I understand you. Please site.
but there is hardly a word said about the $10 Trillion the has gone missing from the Federal Reserve.
that why US don't allow to germany to retrieve his gold (from FED) ... before 7 years.
If I understand the tax rules correctly then uncle sam owns a % of those "missing" gox coins.
Yes,both of them are cheating people.
We are bitcoiners, not fiat currency exchangers. And Mt Gox heist is the biggest scandal in the history of Bitcoin, since its creation in 2009. The amounts of coins stolen account for almost 8% of the total coins in circulation. It has destroyed the exchange rate of Bitcoin. So let's forget about the Fed, and concentrate more on getting the coins back from that greedy fat MF Mark Kerpeles.
i don't think this is a comparison but it's as if people are content to complain over spilt milk while someone is dumping truckloads of our food supply into an abyss...
It seems to be a common trait of a bitcoiner to always shift the conversation to fiat comparisons, instead of dealing with the elephant in the room.
I cant help but scratch my head at all the noise generated by the Mt. Gox debacle, losing $500,000, but there is hardly a word said about the $10 Trillion the has gone missing from the Federal Reserve.
Shouldn't we be paying more attention the the far larger crimes that are being perpetrated right under our noses??
Shouldn't we be paying more attention the the far larger crimes that are being perpetrated right under our noses??
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