it won't, there will probably be some civil suits which mtgox will settle and make it go away by throwing a few pennies at them.  In the real financial world if such event occurs, the BOJ will step in and perform a full audit to determine if any laws (the equivalent of the glass steagall act in the us)  are broken where the firm performed trades using client's money without their consent, but there is no such regulations/controls for bitcoins in japan or anywhere.  

So those criminals like mark karpeles will get away free and clear, also with a good legal case in court, while a massive amount of customer's wealth is wiped and much worse - the reputational damage it will inflict on bitcoin as a whole as anyone outside - the mom&pop shops and ceos of retail companies will only read the headlines "bitcoin crashing, exchange shuts withdraw etc.." without understanding the actual details.

I can't believe mark is still on the bitcoin foundation board, i lost a tremendous amount of respect for the foundation and will not be donating anything going forward to them, it is crystal clear as day what this criminal is doing to his customers and to bitcoin as a whole, yet the foundation remains static.

1)Buy panicked customers coins from their own exchange at $0.2 on the $1
2)Transfer and sell the coins at another exchange at market price while prevent everyone else from doing so
3)Rinse and repeat until the hole is filled and with a very nice profit in mark's pocket
4)Innocently reopen the btc transfer citing technical issue resolved...after wiping out majority of customers holdings
5) Retire and enjoy a wonderful life

mark karpeles is an absolute scum and thief, he would be in jail right now if this is any other currency but bitcoins.  I truly hope they catch this criminal.

Just because it didnt happen to YOU yet doesnt mean it is not happening, what an ignorant statement.

Miner hardware is a gray area, they were banning then backtracked from the backlash as they cannot justify banning mining hardware sales but allow graphic cards. Now noone knows what the policy is on hardware, but on btc physical or otherwise it is clear - zero tolerance.

Also it largely depends on your sales transaction $, everything is automated. As i said many times earlier if you bothered to read, once the system flags your account from a combination of selling btc related items + high transaction $ + unknown criteria, your account will be limited and forwarded to human review. If you are lucky, it's the compliance dept where they make you jump through hoops signing documents and affidavits before restoring your account. But if you are flagged by the risk dept, you just get banned permanently, no appeal.

As long as you stay under the radar and dont get flagged by the system (by keeping transaction $ low) you are fine, once you do, things will move very quickly against you.

No it makes perfect sense, it's all a dog and pony show, judge by their actions not words. If the ceo/paypal comes out strongly against btc, everyone will cry foul and anti-competitive practices. So they make news headlines and publicly say they are strong supporters etc.., but in reality their policies are one of the worst and most strict against btc.

I am not an isolated case, it is crystal clear their company wide policy is perm ban if you sell anything btc related - warn then ban no appeal no question, this essentially shuts down btc in one of the dominate online market place.  It doesnt take a genius to figure out why, if btc becomes popular paypal simply cannot charge their 3.5% transaction fee = death.

One of the worst companies out there.

There is really no hardware that has a chance to roi right now, antminer at 1.4 was doable but not anymore.

Depends on your mortgage rate, if it is <=4% i would not pay it off, those are historical lows But if you have a high rate it is worth to pay it off.

You best bet is to invest back into btc given the recent price drop, buy 25%, if it drops another 10%, buy another 25% etc..  i would also put 10% into dogecoin in case this thing takes off, it has a fanatic following other alts do not also its small unit of denomination is an advantage, people are more comfortable/wired to use whole numbers instead of fractions day over day.  

Get your hands in all the cookie jars.  

Thank you

 

Hi folks, time for another reality check using very conservative numbers:

Assumptions & Numbers:
1) Delivery date:  05/31/2014
2) Hash: 3 TH
4) Power: 1500  @0.15 rate
5) Start difficulty(assuming +20% per):  3,129,573,175 * 1.2^7 = 11213826512
6) Difficulty increase thereafter: 10% (0.06 profitability decline factor)
7) BTC/USD: $620
8 ) Neptune cost: $10000

Profitability after 12 month: -1792.58 USD (LOSS)

---------------
Pro:  
1) Delivered hashrate may be higher than the stated 3 TH

Con(risk):
1) End of may delivery
2) Difficulty increase may be >10% thereafter (given the massive TH boxes coming online)
3) Time resource to setup/maintain hardware
4) Power consumption may be 1500W

Conclusion:
1) You must be batsh** crazy to preorder this hardware.

DOGE payouts are suspended due to fork on the DOGE network.

Coinotron any updates, are the mined coins safe?

You are missing the entire point, no member of congress will take that kind of political risk and introduce a bill on bitcoin, not until AFTER it is popular and widely used with strong public backing.

But in order to get to that step, business both large and small need guideline from the government whether federal or state to provide the confidence, the regulation they are trying to introduce in ny is an important first step to provide that confidence and roadmap for business to start accepting bitcoins. The laws will come only later, you need to walk before you can run.

And i completely disagree that you can "regulate bitcoin into irrelevancy" short of a outright ban which noone is suggesting in the usa. It is by design anonymous with significant advantage over fiat for online payments/money transport.  What regulation will do is allow business and banks to accept bitcoins, and legit broker dealers to start trading it. Those need to be regulated, and that's fine.

You already see what damage shady exchanges like mtgox can do to bitcoins.  I have said this back in 2011 and i will say again, a stable legit exchange between bticoin and fiat is the single most important factor for bitcoin to gain popularity, we need big players like interactive broker and oanda to add bitcoins.  None of this can happen without above mentioned regulations.

So if you truly want bitcoin to gain popularity and become the defacto global currency, you need to welcome regulation, because the world is run by governments and regulations (sorry to break reality to you). Otherwise bitcoin will only exist in the shadows with shady basement dealers/exchanges that go under every few months.

mtgox 1btc = $360
coinbase 1btc = $650

Spread is now ~45%. Those assholes at mtgox have a license to print money: buy their own cheap btc from panic sellers, don't allow anyone else to transfer out but themselves, sell on another exchange like coinbase for an instant 100% gain, rinse, and repeat. Maybe that's the plan all along, criminals...

One is a scam and dead, another is a legit exchange trying to secure their system before resume withdraw.

Does that answer your question

much funny, many false, wow.

At the risk of offending the anarchists, this regulation is a major step forward for bitcoin. It will provide a LEGAL framework and guideline for business in NY to accept bitcoin without fear of prosecution, it is significant progress to popularize the acceptance of bitcoin. And even more important, it will provide a blueprint for other states to follow once they see how NY - the financial capital, has regulated bitcoin.

As much as you all like to tell the government to fuck off, the reality is we (well most of us) still live within a complex world governed by law and regulations. Large business in this country will not widely accept bitcoins until the government tells them it is okie. 

So i view this as progress and a major step forward for bitcoin.

fyi

the account restriction/limit where you have to upload documents to get it resolved is done by the COMPLIANCE DEPT in paypal, they are generally easy to deal with, you just have to call and talk to them and upload documents etc..and they will unlock your account.

the account perm ban is determined by the RISK DEPT in paypal, they are a completely separate unit not visible to the customers, and they operate and review accounts independent of the other paypal branches, their sole purpose for existence is to use some hidden metric to determine if your account should be perm banned. You cannot contact them nor talk to them, the only time someone from that dept will call you is to inform you your account has been perm banned, there is no appeal nor recourse. Your money will be frozen for 6 months, afterwards it requires written permission + valid id matching the paypal account to get it out (they will send you a check).

So you will have many cases where the compliance dept says your account has been restored then 2 mins later it gets perm ban, as stated above the reason is because it's done by 2 separate units, and they don't talk to each other. 

So long story short (too late?), if your account got flagged for review by the risk dept, you are fucked. If it is flagged by compliance, you should be able to talk your way out of it. No one knows the exact criteria used to flag your paypal accounts for review, but keyword bitcoin + high $ value is definitely part of the criteria, so is chargebacks from your buyers.

Paypal is FUBAR, but there is no alternative, they have a complete lock on online payment (at least in the USA).  That's why bitcoin success matters.

bump ity bump

looks like it went out of stock, but i bought 6x GIGABYTE GV-R927OC-2GD Radeon R9 270 2GB from newegg at $210 each. Ok it's 270 not 270x. My numbers may be off by 5-10% but my point is the cost is not a factor here like the sha256 asics where there is significant gh/$ difference vs video cards. 

It's more about power savings.

hi guys sorry i am still trying to make sense of this. Is the below accurate?

1) LA3M USD2600+USD150 for dhl express, 3MHS scrypt+100GHS SHA256. (will be 5MHS for the new shipment per rammy2k2).

It includes 10XUSB cell, 1X controller,2X 12V industry adapter,10Xmini usb cable,10X 12V power cable,1Xusb hub,1Xmini usb cable,1X5V usb adapter

2) LA6M USD5100+USD300 FOR DHL express, 6MHS scrypt+200GHS SHA256.

It includes 20XUSB cell, 1X controller, 4X 12V industry adapter, 20Xmini usb cable,20X 12V power cable,1Xusb hub,1Xmini usb cable,1X5V usb adapter

So for LA3M, it will be equal to 12X R9 270X which cost ~$2800 including all the parts. There is no cost advatange, the advantage is the significant power savings, the disadvantage is resale value (as you can sell video cards much easier).  

Is this accurate?

can someone tell me the spec for LA6M and how to order? this thread is very confusing 

Yes, It's not a technical issue mtgox is trying to solve but liquidity/price related.  The news release is a sham just like their past usd halt release to fix "technical issues" when it turned out the us government froze their us bank assets as the real reason.