Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29630. (Read 26709854 times)

Please don't confuse suggesting that he might do well to get a bodyguard with hate (if you are referring to my comment). Considering that people are beginning to fly to Tokyo from the other side of the world to confront him makes this seem like a good idea to me. The first visitors were kind of geeky; the next might be more unpleasant.

I do think it would help if he was more open about Gox's cash / Bitcoin reserves.

Btw, does anyone thinks that Stamp allowing withdrawals actually accelerated the dumps @Gox?

Like people starting to question why the hell Gox still cant do it while other exchanges can, losing the last amounts of the remaining trust and stuff.

i agree, the hate here is just idiotic. i was tempted myself, it is so easy to follow the crowd and hate. there are even remarks about his safety.

on the other hand: some communication from mtgox would help

If you're making a list , add pirate@40 and BFL to it

+1 to full post

@jorgestolfi

You have a pretty impressive CV and all that. But to have a fruitful discussion, we can not throw those things around, because eventually we will end up with trowing in the name of Krugman, who has everything that you have and more. We are talking about a man who belives in the broken window fallacy, and who thinks the value of the dollar is supported by guns. The prize he got is given by a central bank, the very bank that invented fiat money.

Your arguments against bitcoin is the standard dozen or so that has been deeply discussed here and largely refuted. With your intelligense you should easily be able to follow the discussion. Is there something in your career that inhibits the free thought? May be you aspire to become a central banker in Brazil, or to the sweedish economy prize? What I do, when discussing bitcoin with someone interested, is to suggest he should get some. Nothing is more inspiring than to have a small value in bitcoin while you consider it. You don't seem to want to have even a small fraction of a bitcoin to own for yourself. Is this for being neutral, so your considerations should carry more weight? Or is it so that you can say in your next application for a job within the establishment, that you never had any bitcoins?

Now, the latest argument against bitcoin is speculators and other bad actors. Is speculation bad? The word has negative connotations, yes, but it is really not well defined. The difference from investors is at best that a speculator takes high risk, but an investor takes small risk. The important point is of course the expected return, and if risky you have to spread the investments a bit.

Assuming you consume one bread a day, why did you not buy two today? Because you speculate that you can buy one tomorrow for the same price. You can speculate about a price going up down or stay the same. It is about using your brain to foresee what is going to happen and act accordingly. That is what we do when we buy and hold. You can not safely call it investing, since it is not capital goods you buy, but another kind of money. The reason for other people to buy bitcoin is irrelevant. The question is, will they, and when they do, how much do they want to hold?

Your second latest argument is that there are possibly infinite other coins that can be made, so the supply is not really limited. For this argument we have in fact data, bitcoin has value, countless altcoins are created each day, but up till now they have not been able to water out bitcoin. There is a reason for it also, the reason is that the traders want to have one type of money if possible, maybe a few more if they have other good qualities that bitcoin has not. The current situation with hundreds of different fiat money types is not in the interest of the traders, it is in the interest of the governments and their cronies. Since the governments are not involved with bitcoin, there need to be only one. There is a small risk that it will be something new, but currently I don't see any real competitor.

I think the issue is... How many Bitcoins through the malleability bug did the Gox system automatically resend, thus losing money. Depemding on how much money is in the company, and most of the profit could have been taken out as a dividend, determines if the company is insolvent or not.

I agree (with the whole post, too).

You hate him because he's fat and drinks coffee? Wow.

I think exactly the same. And this way they're also taking back a lot profits with the fees.

I thought someone had slipped some acid into my soda when this guy started yapping at the NY hearings. It suddenly got very surreal. I thought someone like Proudhon or Fonzie had managed to sneak in.

Come on guys, isn't this a little harsh?

What are you basing all this on? The FUD being spread by 2013-2014 users about mtgox being insolvent?

Mtgox has had quite a few fuck-ups throughout the years, but they have always refunded users and mtgox even bailed out other hacked exchanges. The amount of money they have made in fees is likely hundred thousands of BTC. I just don't see how they can be insolvent at this point.

Some incompetence, or maybe just stubbornness of Mark to do all the programming himself? I don't know, but I can't really hate him for it. As long as I am given my BTC within a reasonable time (few weeks) I don't really see an issue. Friends of mine received fiat withdraws this year. It doesn't scream scam to me, just a lot of trouble, maybe a CEO who can't handle it all.

But calling for somebody dropping him dead, wishing him ill etc is really not the time, if he end up scamming / not giving back funds then fair enough, but too soon imo.

I think this will blow over within the next few weeks, when bitcoin withdraws are enabled and the mtgox price is sky high again everybody will be happy again (except those doing stupid trades right now).

I'm buying with both hands on gox, we should cheer Mark for gifting us these very cheap bitcoins.

Has anyone wired money to Gox lately? How long does it take?

Its between Mark and the the french lad who scooped the Silkroad escrow bonanza.

You seem to have a short memory coupled with the fact Mark has yet to have done anything to warrant hate. He pointed out a flaw that nearly every exchange had to fix in their software. Perhaps he put the blame where it was not warranted.... perhaps.

I see that things at Gox look odd but just imagine this:
- Mark doesn't have special trading accounts or no-fee bots, etc.
- Mark believes that malleability is a flaw in the protocol and stated his opinion
- the crazy market at Gox is simply that, a free market, not internally manipulated
- banks have been very strict with him after the US froze his Dwolla account causing all the reported fiat transfer issues. Stopping USD withdrawals is necessitated by the US not Mark.

People are losing money and looking for someone to blame. Instead they should be thanking Mark for offering them the ability to trade BTC for the last @4 years.

In life when I bite off more than I can chew I step aside and hand the reins over to someone who might have a better chance of handling the situation.

This way, I might learn something by watching how its done.

I sure hope Mark is doing this.

Mtgox plays with fire

http://www.youtube.com/watch?v=3pEjfuRygS4

Meanwhile at the mt gox office.

why u hate fonzie?
because he wants to load up on BTC?  

Lets get through the list

- Completely fat, with black clothes that don't hide it
- Bouncing around on a ball and living large in Tokyo
- Treated his customers like shit for ? years
- Drinks Frappachino's WITH CREAM as his daily drink so he could keel over at any point
- No communication or respect to his customers as to why the price was 200 over, and now 400 below the other exchanges price - way to make money just dissapear
- Blaming BTC protocol for problems that no other exchanges seem to have
- I hate him, hate him hate him

Fonzie is annoying , you can't really hate a troll. Besides , put on ignore , he's harmless , unlike MK.