Topic: One great benefit of this Gox Crash (Read 1541 times)
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
What about you go away?
Agree 100%
If need to withdraw to buy goods and services or to pay out dept. Use Bitcoin for goods and services.
If need to withdraw to buy goods and services or to pay out dept. Use Bitcoin for goods and services.
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.
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.
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.
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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