Topic: OUCH! More Bad Bitcoin News... - page 2. (Read 8294 times)

There's always a chance, but I don't see on what grounds they could make it illegal. Banning it wouldn't make it worth any less any way. It'll still hold value to others and people will still use it.

Really, I don't know why, but I am so convinced that Bitcoin, or cryptocurrencies in general are a thing that is here to stay, that I have not the slightest doubt about the whole developement. I'm actually happy that the price drops, so i can buy cheap. I see more and more People being driven out of the market, even Veterans. I'm in Bitcoin since 14th January. But I've never been so sure in my life, that we're all sitting on a development, that is going to explode and change our society. I cant even explain that. I just know that I fucking have to be on board of this ship or I will regret it.

"fix the issue" and "resume withdraw" are two separate questions.

As I understand it, "fix the issue" at the bitcoin level would require enforcing checking a field that is currently ignored. That would eliminate the easiest form of the exploit.

However, it is the user implementation that is really the problem. The simple solution for MtGox is to scan the block chain (look for the block with the from/to addresses and amounts) and if the transaction hash changes, update their system with the new hash. As long as MtGox mixes a random return of coins to its own account into the transaction, multiple withdrawals of the same amount would not be confused.

Regardless, the problem requires the customer to initiate a refund, or not received, complaint. The resolution of that complaint should require the looking up of the transaction from the details, and not the transaction hash. If that were done, then MtGox could resume allowing withdraw.

Note: The deposit system only looks at transaction addresses (do not know the incoming transaction hash), so they know how to do the coding.

The question is: Is this a smoke screen, and MtGox has stolen coins? That could be why the btc values on MtGox has plummeted. Let's assume that MtGox has stolen 20% of the bitcoins, then each bitcoin position on MtGox is only worth 80% of a real bitcoin (when all is settled, each person's position is paid out at 80%).

BTW: Bitstamp has resumed withdrawls. If they can, then MtGox can
http://www.coindesk.com/bitstamp-resume-bitcoin-withdrawals-btc-e-working-solution/

You may be mostly right when you say the actual big holders are usually not panic selling because those who did panic selling in the previous crashes may not be big holders anymore but there are plenty of large sell of BTC, the traders have been selling for days knowing the price will fall, they will be the first to buy back, especially those who short sell because they will have to buy back

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.mtgox.com/press_release_20140210.html
"A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur."
"We have discussed this solution with the Bitcoin core developers and will allow Bitcoin withdrawals again once it has been approved and standardized."

I knew it... Satoshi Nakamoto works for MtGox... and it's all going downhill from here.

Actually... NOT. Price of BTC is pulling back up on both Coinbase and BTC-e (but continues to drop on MtGox).
If you want to gamble your money, buy on MtGox right now and hope they will ever allow withdrawals again.

I wish situation will chill soon...

I've seen worse.

In Bitcoin YOU are your own bank! (assuming you don't use a website to store them for you which you shouldn't).

But if you mean traditional fiat banks also supporting Bitcoin accounts then Australia is too late for that title as of a couple of days:

https://bitcointalksearch.org/topic/--462161

right

but it seems to be a long long day ....
and another day with panic and speculations according to price drops

True - its the psychological momentum. Suggest to forget Bitcoin and take Satoshi immediately. That means who invests 100 USD will get 23,000,000 Satoshi for it - that'S a lot

Its a zero-sum game. Everybody should know that. However, its not a free market and heavily manipulated. Who has the most upper hands right now at Gox? I bet you its Marks mom. ..... you think she would have fiat withdrawal "delays" ?

LOL

Australia may actually have world first Bitcoin Bank

Good news !!

I think these crashes help spread BTC further.

At least this current battle does not spill blood.

It's a good time to buy in my opinion    The low price is a result of manipulation (ddos attack)

price is going to jump soon after people start to realize the panic was founded..

A high percentage of comments reinforcing the psychological notion that people will continue to think in terms of "whole" BTC instead of fractional values. e.g. I wish one BTC equals $100. Instead of thinking "Oh, I'll go and buy $100 worth of m/uBTC." I'm guilty of that mindset too, especially when I think back to what I first paid for them. Personally I think we are way overdue to start calling them uBTC or whatever and leave BTC in the past.

Well, remember that you also always have those who are going to sell off when something happens that looks like it will depress the price with the intent of taking a round of profits and then buying back in at the bottom.  To make money, the speculators have to be right while others are being fools.

The question basically amounts to asking is it possible a government will do something insanely stupid in the future.  Yes, of course it is.

However, all the indicators seem to be that the move is toward regulation and not prohibition.  I think what is much more likely is that there will, at some point, be some incredibly burdensome and ill considered regulation that harms the market.  Since the feds, remarkably, seem to be behaving more or less rationally, I think this is most likely to come from the states.  For some reason, my crystal ball has some crusading New York State (or possibly California or New Jersey) prosecutor taking some ludicrous position on Bitcoin.  (Of course, the current Florida prosecution could be the thin edge of the wedge.)  Just call it a hunch.

The thing is though, the whales are the least susceptible to all these "crashes" and FUD. The reason they became whales in  the first place is EXACTLY because they were smart enough to listen to themselves and buy into bitcoin when everyone else professed that it will fail. This is why they won't unload their bitcoins during times like these - they know Bitcoin will pull through just fine.

Meanwhile, the people that DO cause these reductions in price are exactly the people that don't hold a lot of bitcoins because they immediately panic and sell when they hear one of these news stories.

That would be cool.
Seeing people selling a 5.5gh/s Jalapeno for $350 is crazy much less 30gh/s BFL Singles for $1200 or more is sickening.

The localbitcoins service gets pretty good reviews. 

Coinbase has been well worth it even though I am still in the first 30 days so my daily buy limit is low and won't be bigger until mid next week.  They have good prices and usually are quick with transactions.