Topic: OUCH! More Bad Bitcoin News... (Read 8294 times)
The situation on the exchanges is similar to the one in Kiev, once bad news strikes. (sadly)
I guess the question is when will Gox either fish or get off the pot? They have been in this lingering mode for awhile, either they fix themselves or just go out of business.
Any idea when that point will be reached?
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Any idea when that point will be reached?
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A good read:
Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/
Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/
Here's another good read:
http://www.wired.com/wiredenterprise/2013/11/mtgox/
And so now I have an idea: I will hire a bunch of 19-year old Russian hackers and form our own "Stratton Oakmont, BTC Inc." (seen the movie "Wolf of Wall street"?). We will buy MtGox for next to nothing and turn it around. Everyone will be paid with Vodka and the sexual favors of Japanese schoolgirls. Yes - you guessed it - our headquarters will be in Tokyo, the spiritual capital of Bitcoin.
Since a bunch of "core developers" of BTC clients (such as Bitcoin-QT and other clients) can get together and agree on a consensus to modify the way a blockchain is validated, we will develop our own new client (let's call it "Bitcoin-SO" (where SO is short for Stratton Oakmont), and this new client will compete with Bitcoin-QT and will direct 0.0001 BTC of every network transaction to our personal wallets.
In its initial launch phase, I am taking applications to fill various positions within the startup company. Who's in?
"Looks like I picked the wrong week to quit sniffing glue." - Steve McCroskey
Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.
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i did. I am not an idiot. I am conscious to be risking. But greed, greed pushed me to do that.
That's what I'm doing.
No reason to panic just like anything it will have it's problems and ups and downs.
No reason to panic just like anything it will have it's problems and ups and downs.
Yep. Keep calm and mine on.
Yep. Keep calm and mine on.
I hope bitcoin crashes to a few dollars so I can get in but I doubt that will happen people will buy like crazy if it hits $200 so there is no way goes that low unless the code is a total disaster thing or government tries to crash it in which case i'm buying
A good read:
Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/
Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/
It was only worth 10k btc if you got the garlic butter.
Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.
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Depends how much is in your lifesavings lol.
actually moved my only 7.8 BTC in doge, just seemed right to do.
BTC falling while doge rising, will convert back when BTC sorts out its downward trend.
in the meantime, im making money!
BTC falling while doge rising, will convert back when BTC sorts out its downward trend.
in the meantime, im making money!
Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.
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When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.
Wake me up when a bug locks me out of my wallet.
Anyone who keeps their money on an exchange is an idiot. Period.
And we're back up to 700 ish this morning, too late for me to make a $400 killing. Drat.
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However you need consensus to propagate it around the network.
Consensus of who?
A group of people?
An Organization?
Do we have a list of the names of those people somewhere and where they live ?
However you need consensus to propagate it around the network.
Consensus of who?
A group of people?
An Organization?
Do we have a list of the names of those people somewhere and where they live ?
This basically sums up the Gox attitude towards custommers. Just look how that prick tries to avoid conversation. I won't even talk to you for 10 seconds, get out of my way, don't touch me 
https://www.youtube.com/watch?v=ob9Ak1t09Ao
https://www.youtube.com/watch?v=ob9Ak1t09Ao
When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.
MtGox is talking about:
- "The Bitcoin core developers"... they have "discussed" the solution proposed.
and,
- allow Bitcoin withdrawals again once the MtGox solution has been approved and standardized.
Huh? I thought Bitcoin was a decentralized currency with no central authority regulating it. And if we can alter the algorithms and checks now in place, who to say anyone cannot do it in the future again (some other "Core Developers" from another exchange)?
Can I send a couple of hookers to those "core developers " to get them to work for me?
In the same statement they make clear that there can be two implementations for a new TXID the same way there are multiple Bitcoin clients and implementations. It would just be convenient if there was only one standard for TXIDs. In practice you don't really need TXIDs to be non-mutable (which is one of the reasons why it was not fixed for 2 years) and a lot of people and exchanges don't care about them. See the Kraken exchange and other less known ones that didn't pause for a second.
GOX has had serious problems for long and waiting for "approvals" is just yet another stalling technique.
This basically sums up the Gox attitude towards custommers. Just look how that prick tries to avoid conversation. I won't even talk to you for 10 seconds, get out of my way, don't touch me
https://www.youtube.com/watch?v=ob9Ak1t09Ao
https://www.youtube.com/watch?v=ob9Ak1t09Ao
When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.
MtGox is talking about:
- "The Bitcoin core developers"... they have "discussed" the solution proposed.
and,
- allow Bitcoin withdrawals again once the MtGox solution has been approved and standardized.
Huh? I thought Bitcoin was a decentralized currency with no central authority regulating it. And if we can alter the algorithms and checks now in place, who to say anyone cannot do it in the future again (some other "Core Developers" from another exchange)?
Can I send a couple of hookers to those "core developers " to get them to work for me?
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