It is frustrating, but most of us have had to go through this process.

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Unless you have power generating devices, electricity is never free. Someone pays for it somewhere. Just saying

I like gambling. But I only like gambling when it is a fair game.

I've been following this thread since its inception by the way. I just wanted to highlight the major point that this game is a huge ponzi scam being played by people who cheat. If people are happy continuing playing knowing this, then that is fine.

If people are desperate to throw away their bitcoins, could I give you my wallet address and simply give them to me?



http://en.wikipedia.org/wiki/Ponzi_scheme

Add to that people cheating with bots, and people are still wanting to play?

Sorry, I completely misread. I blame the red wine.

I take it all back.

Ponzi schemes and pyramid scams require an ever growing number of new suckers for it to work. That is where the problem lies.

[Edit] removed

None. I traded a lot on MtGox, but pulled out after the hacks and when MtGox continued to advertise on Bruce's show.

All my remaining bitcoins have been stored on an offline USB stick since then, and they will remain there until I find an exchange that has solid performance and accountability. Tradehill is looking good so far, but I'm waiting until the reported chargebacks start biting before I consider using the site.

I'm sorry if I sounded negative towards you. My words were more a warning to potential users of your site to not invest a cent until you have provided sufficient documentation and reassurances. Until that happens, everything you have written is just words. Words are meaningless.

I wish you the best of luck.

All people are asking for is a bit of accountability and evidence as to who is behind the exchange. It is only fair given the repetitive scams that crop up all the time.

Until such evidence exists, I would not recommend sharing a cent with any company like this.

I anticipated the current dip and got out of mining a couple of months back (& managed to sell my equipment for virtually the same price that I paid for it) . I feel your sadness. Hitting the power button for the final time was quite an emotional moment.

I believe that new hardware opportunities in the future along with a potential bounce in bitcoin value will see us all mining once again.

Why would anyone invest in someone who replies so veraciously to direct questions?

People are asking you direct questions and questioning aspects of your business for a reason. This is what investors do prior to investing. When people are gambling their own money they have a right to know what the stakes are.

FFS.

Seriously, learn about shares. Learn about valuations. Maybe attend a business course or something, or even read a book about business. Maybe consider taking a course on communication skills too while you are at it.

You've had a lot of good advice in this thread. I suggest you might consider taking some of it.

You might not be a scammer, but you have a terrible approach to business.

Good luck.

That then adds yet more risk - a third party who could disappear with the bitcoins overnight and there wouldn't be anything anyone could do about it.

Also, people who buy bitcoins often need them quickly. Planning finances one month ahead won't work for many users (i.e. silk road). Also, what would happen if the value of the bitcoins drops by a few hundred percent during that month?

There are far safer ways to purchase bitcoins than paypal. None are risk free though.

Mt:Gox have a lot of money they need to refund to the credit card companies. What better way to raise these funds than to block access to people's accounts and use their BTC and $$$ reserves to pay the chargeback bills?

Also, sending photographic ID and a utility bill to a company who has very close ties to Bruce? lol.

I'm so glad I got out of MtGox when I did.

If you hunt through the forums, you'll find quite a few people who are claiming that Mt:Gox have not given back access to their accounts, even after their ID requests have been complied with.

Mt:Gox has to pay a lot of money to cover the credit card fraud that was generated through it's AUD exchange. What better way to raise this than to block people's accounts and take their BTC and $$$?

I don't understand how this has anything to do with answering the point I made. Please explain more about this marketplace idea, and how successful was it?

Also, have you looked into your state gambling laws, and if so, will you be complying with them?

I don't think you understand.

You have made it clear many times that you have access to very little money if any. Let us say that the very first person who plays at your casino wins a 50BTC jackpot. How are you going to pay them? Where will the funds come from?

No offence, but you couldn't even configure an off-the-shelf e-commerce system... nor did you offer any way to pay in bitcoins on your site. How the hell do you expect people to believe that you have the skills or funds to set up a gambling site?

They also have a cookie based ban system that makes the site appear to be down. They are very ban happy on there, so that could be the reason why the site doesn't appear to you? Try loading up the site in a different browser.

I stopped mining and trading over a month ago. I transferred my USD to my bank and my remaining bitcoins are stored in an offline USB stick. I see them as free tokens, saved in the hope that something comes of bitcoin. I made more than enough money during the bubble to cover the costs of the hardware and electricity (and more).

At the moment, bitcoin is synonymous with scammers, cheats and thieves - or worse, dominated by people who have absolutely zero business acumen. I can see why the bubble is bursting.

Bitcoin is/was a good idea, but it was screwed over by greed, crime, incompetence and general human nature.

Will bitcoin survive? Only time will tell. I'm just very glad that I have no real money tied up in it any more.