Topic: Temporarily, the party is over... - page 2. (Read 2949 times)
TradeFortress is a scam!
WebMoney.
Yeah more exchanges are needed, but better that BTC gets used like money and not people just day trading. More use as money = less need for exchanges.
For the time being, any Mt.Gox assault by either/and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is simply NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.
One thing is for sure, we'll know how much control government's can exercise over the future of bitcoin.
When this news broke last night we were in the midst of a little correction, about 115 to 100ish. But as it was being discussed and until now, the price has stablised with a positive bias.
This is a great event for BTC as it will display exactly how much 'they' cannot fuck with 'us'
I'm holding half
Here is my take on the situation...
If BTC is EVER going to be a currency (instead of a commodity that it is right now) we are in desperate need of a TRUE spreading amoung a vast amount of exchanges. I'd like to see more than 50 exchanges (at least) in order to be able to talk about some independent price formation, and stability from within the system.
YET...
For the time being, any Mt.Gox assault by either/and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is simply NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.
Bitcoin deserves better than what we've seen over the past weeks.
But let's be honest: it will fail in an epic way if the problems about exchanges won't get addressed at last... And let's be honest once more: that is a problem when having such a decentralized currency... All we can hope for is enterpreneurs willing to setup competing exchanges, and to conduct their business in a moral & lawful way.
I just can HOPE for the better.
Meanwhile, I would not be surprised to pick up BTC at a WAY lower price before the dust settles... Double digits might well be on their way IMHO. And meanwhile, I am also reducing my risks/exposure and/or uplifting my profit potentials by partially positioning myself into Ripple as well (now don't laugh -yes, that IS legitimate, and it is in fact a BUSINESS well run, contrary to the fukcing-up by Mt.Gox)
To those whom it may concern,
Willy
If BTC is EVER going to be a currency (instead of a commodity that it is right now) we are in desperate need of a TRUE spreading amoung a vast amount of exchanges. I'd like to see more than 50 exchanges (at least) in order to be able to talk about some independent price formation, and stability from within the system.
YET...
For the time being, any Mt.Gox assault by either/and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is simply NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.
Bitcoin deserves better than what we've seen over the past weeks.
But let's be honest: it will fail in an epic way if the problems about exchanges won't get addressed at last... And let's be honest once more: that is a problem when having such a decentralized currency... All we can hope for is enterpreneurs willing to setup competing exchanges, and to conduct their business in a moral & lawful way.
I just can HOPE for the better.
Meanwhile, I would not be surprised to pick up BTC at a WAY lower price before the dust settles... Double digits might well be on their way IMHO. And meanwhile, I am also reducing my risks/exposure and/or uplifting my profit potentials by partially positioning myself into Ripple as well (now don't laugh -yes, that IS legitimate, and it is in fact a BUSINESS well run, contrary to the fukcing-up by Mt.Gox)
To those whom it may concern,
Willy
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