Author

Topic: One great benefit of this Gox Crash (Read 1542 times)

member
Activity: 315
Merit: 10
April 11, 2013, 11:38:47 AM
#5
One other great thing is Silk Road hedged prices are calculated based on the MT.Gox Floadign average which wont update for quite some time so my one bitcoin is worth twice the amount there than I can buy it for xD
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
April 11, 2013, 11:30:48 AM
#4
What about you go away?
member
Activity: 63
Merit: 10
April 11, 2013, 11:27:24 AM
#3
Agree 100%

If need to withdraw to buy goods and services or to pay out dept.  Use Bitcoin for goods and services.
sr. member
Activity: 389
Merit: 250
April 11, 2013, 11:25:12 AM
#2
If Bitcoin wants to graduate out of the experiment state it currently is in, it need to be able to handle all-comers.  Unfortunately, just like every hack that has taken place, every scam, ponzi, etc. it's some 3rd party or service that appears to be the problem, not Bitcoin the protocol.

What I hope happens is we start seeing a major shift to an exchange that is ready for prime-time that can handle the volume.  Mt Gox have been sitting on their backsides watching the money trickle in, and have invested little or nothing into their infrastructure and application and were completely unprepared.  Shame on them.
member
Activity: 62
Merit: 10
April 11, 2013, 11:13:36 AM
#1
It will (hopefully) scare away the day traders.

What we really need here for the success of bitcoin is a widespread adoption of bitcoin.  For that we need stability.  STABILITY.  The right way to use fiat money is like this:

Fiat -> Bitcoin -> Goods and Services

I understand there aren't many options for spending bitcoins on goods and services and I understand that some very early adopters have an opportunity to make a new legacy for themselves by scoring big in fiat.  But day traders on the other hand are obscuring the actual value of and introducing volatility to bitcion.  Both these things set back the wide adoption that will make coins worth tens of thousands and a safe haven for the value of our hard earned wages.

Day traders please go away.
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