Bitcoin Forum

" Bitcoin has no future whilst it’s controlled by fewer than 10 people"

millions lost by Cryptsy

Less than $10m.

not even 6M actually, they were 13K coins, at 450 you do the math

bitstamp faced the same fate 5M lost but the price recovered after that, dunno why this time will be different

July 2014 bitcoin as around 630 USD and litecoin was around 9 USD, so at that time values it makes this a theft of almost 11 million USD.

i thought that too, but why coindesk say only 5M? http://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange/

"Bitstamp lost 18,866 BTC from its hot wallet, worth approximately $5,263,614 at a time when the price of bitcoin averaged $279."

I lost some money in Cryptsy, I had some altcoins... I don't really care, it wasn't that much money, it was so little that I was too lazy to open a ticket for my stuck withdrawals. Fuck them, they have been such a pain in the ass for months now, so many people complaining on the chat and getting banned because they wanted their money back.

Edit: Actually they have cancelled my withdrawal, now the BTC is back on my Cryptsy account. Are they planning to give us our money back, or are they going to close the site while we have the money sitting there?

 ::) ...

Google didn't give a shit when Mike left.

Bitcoin also didn't give a shit when he left the building, only sheeps running like headless chickens.

The price dropped with $30 bucks due of Cryptsy hack, i've seen worse than this..np.

Thx for cheaper coins and it's just ''business as usual'', let's move on.

Yeah, why do I even ask right? lol. But seeing the BTC pop up on my wallet instead of being on the limbo of an unfinished withdraw request gave me some hope. I guess it's the final fuck you, like "hey, HERE'S how much money you are going to lose exactly, thought luck!" Then they close the site.
Glad it's not even 50 dollars.. still really annoying.

I lost some money in Cryptsy, I had some altcoins... I don't really care, it wasn't that much money, it was so little that I was too lazy to open a ticket for my stuck withdrawals. Fuck them, they have been such a pain in the ass for months now, so many people complaining on the chat and getting banned because they wanted their money back.

Edit: Actually they have cancelled my withdrawal, now the BTC is back on my Cryptsy account. Are they planning to give us our money back, or are they going to close the site while we have the money sitting there?

Was wondering why the coins are running down. so it was an all round shake up. good  ;D

Andreas said, "the writing was on the wall for those who were paying attention" after Mt. Gox went down.  It's safe to say that investors and customers of Cryptsy had plenty of warning that it was in dire straits.  For example, Cryptsy was not paying dividends to shareholders on cryptostocks on time, people were losing money because their trades were not being executed on time.

I agree with OP, the free market can be a b*tch as it weeds out weak hands.  Bitcoin and the bitcoin economy are better off in the end.

Back to 200 usd is very stable.... I think thats the real value and not making the miners rich

bitcoin growth and profit from trading relies on weak hands dont they? Where else would the money come from? a tree?

The bitcoin tree giveth and taketh away.

I think it is less making the miners rich and more making it to they can cover their costs and continue mining.

Typically, even giant industrial mining corporations do not earn enough to make huge ROIs quickly, and is a long and drawn-out investment.

I personally think $200 USD is a bit low, anywhere between $500-$1000 is good for Bitcoin in it's current state.

Back to 200 usd is very stable.... I think thats the real value and not making the miners rich

It is indeed a great day for Bitcoin.
Game over for Core:

https://www.reddit.com/r/btc/comments/413w2s/check_out_bitcoinclassics_miners_support_list_now/

Yeah, why do I even ask right? lol. But seeing the BTC pop up on my wallet instead of being on the limbo of an unfinished withdraw request gave me some hope. I guess it's the final fuck you, like "hey, HERE'S how much money you are going to lose exactly, thought luck!" Then they close the site.
Glad it's not even 50 dollars.. still really annoying.

I somehow doubt this is the last we hear from Mike Hearn though.

OP is right. In loosing Mike Hearn and Cryptsy, the bitcoin ecosystem has just shitted out 2 of its biggest liabilities. Just a brief dip in price and onward!

A few people were expecting something like this to happen to Cryptsy for sometime.

This is a great day for Bitcoin.

Hearn@gnome.zurich.ch has with typical self-aggrandizement surrendered unconditionally to the Knights of Satoshi, leaving the Gavinista insurgency demoralized and rudderless.

A parasitic shitcoin exchange will no longer operate fraudulently on an undisclosed fractional reserve, teaching noobs about the risk of being too greedy and gullible.

Fee markets continue to mature, as Bitcoin's pay-for-priority model ignores the drama and reliably records properly funded transactions.

Planned upgrades to Honey Badger proceed apace, as Core's Wizards develop miracles such as Lightning, SegWit, Sidechains, Confidential Transactions, RBF, CLTV, etc.

The Winklevoss ETF is one day closer to approval, while Bitcoins are shaken free from forlorn faint-hearted Gavinista fail-forkers' feeble fingers.

The Bitcoin Core community continues thriving under the light touch of Thermos's moderation and administration, while the Gavinistas splinter into increasingly esoteric personality-driven cliques.

Paper money continues to burn, as Chinese and other markets are in free-fall despite the best efforts of Hearn's beloved BIS coordinated and funded Plunge Protection Teams.

I'm happy as a daisy!

https://i.imgur.com/sDHOoZ2.jpg[/img][/center]

I guess it really is a great day for Bitcoin. Today is not such a great day though. The price dropped to $370. That really sucks.  :( :(

The real reason for the drop is...

...global markets continue to melt, as oil hits 12 year lows, and the whales who move the BTC price sell to cover losses and bottom feed in other sectors.

Are you even aware there is a global economy, and Bitcoin's fiat price is determined in that context?

Or are you so fixated on Blockstream all other matters fade into the background, as your obsession increases your derangement to the point where you are reduced to ranting about  an absurd, utopian scenario wherein "the fork goes off without a hitch?"

Tell us more about how _Classic's contentious hard fork will be a cakewalk, and the conquering Gavinista heroes will be greeted as liberators with roses, candy, and ticker tape parades.

Bitcoin Classic is about to come and it is still Bitcoin, just with 2MB block sizes. Changes and uncertainties are scaring some people and whales are dumping to go fishing on top of it. Let Mr. Hearn leave and play with the banksters, nobody wanted his xt fork for very good reasons. But the panic selling will stop. Why? Bitcoin works normally, cryptsy is extremely old news that is just confirmed now, and the blocksize issue needs to be solved for Bitcoin to grow and have a future on a greater scale, literally. The time is now. I'm sure this thing will be turned around. As always. Remember, it's Bitcoin, people.

well the price continues to drop through the floor.its crazy

What do you expect when bad news are spreading around ?
I hope this situation will normalize soon, but gotta make some money in this situation so i bought few coins and hopefully by the next monday the price is back to it were before

...global markets continue to melt, as oil hits 12 year lows, and the whales who move the BTC price sell to cover losses and bottom feed in other sectors.

Are you even aware there is a global economy, and Bitcoin's fiat price is determined in that context?

Or are you so fixated on Blockstream all other matters fade into the background, as your obsession increases your derangement to the point where you are reduced to ranting about  an absurd, utopian scenario wherein "the fork goes off without a hitch?"

Tell us more about how _Classic's contentious hard fork will be a cakewalk, and the conquering Gavinista heroes will be greeted as liberators with roses, candy, and ticker tape parades.

Such BS. If Mike was so wrong and a hindrance to the project... the market would have rallied with the news he was quitting Bitcoin for good.