60000 people hitting refresh 

I just clicked that link, above the article there is a large blue paypal banner, its says

"PAYPAL

Trust your online payments to the experts"

 


it looks a little rough, maybe they chucked it together in a hurry and got it included with the normal banners last minute?

I don't think any professional traders use it, so very little market manipulation, just us plebs, also the interface is a little clunky...

I have never used mtgox and never thought mtgox itself was going to be instrumental in bringing bitcoin to the mainstream in the future, and I always thought we needed to diversify with lots more efficient exchanges for every currency(we should have learned that after the dos attack took it down, it did come back stronger though ...), so I may have a perspective different from the people thinking the sky is falling and bitcoin is over,

my view is, let the attacks come, in every area, including the exchanges not just bitcoin itself, this is early days for bitcoin, with every attack something is learned and the bitcoin community is better for it, if all that happens from the mtgox hack is a roll back with mtgox paying the missing btc himself and it gets a new security overhaul then that's a positive in my book, plus all the other exchanges will see the vulnerability and secure themselves against it, its not like we can avoid these things throughout bitcoins life, let them happen now and make things as secure as possible for the future.

after reading the forum a bit, a roll back really is the only thing he can do(right or wrong being irrelevant),

though it's funny watching all the guys that got there 0.10 orders filled going crazy calling the roll back bullshit  

saying its the only thing he can do is based on the assumption that mtgox doesn't personally own 500k btc or the cash equivalent to pay the 500k owner back,  just opening the exchange with no roll back and letting the low orders stand would mean he is just ignoring the guy with the lost 500k btc and that would be worse than the fecking hack, "oh you lost millions on my exchange? tough shit!, stop e-mailing me everyday about it ffs... want some cheese with that whine?"

although even if he did have the 8 million $

he is still looking at the choices of

1: let all orders stand and screw the 500k customer

2: pay the millions back personally and let all orders stand (haha)

3: roll back and pay the few thousand himself

4: close exchange and flee with all the cash

is this a fair assessment?

I was assuming they would pay out of there own pockets for the coins already withdrawn,
 mind you that could be alot of money depending how the limits work. how does the $1000 a day withdraw limit work if 1 bitcoin was worth $0.01 anyone know? or is it some sort of weighted average over days.

ooh, just online again, I'm not sure what happened yet, possible hack sell off to 0.01 or something on mtgox?, did you get a parity order filled in the process? if so very nice!  imagine the guys that had the 0.01 orders, waking up and finding them filled  unless it was all mtgox users combined getting sold in a hack... 

can you withdraw?

was about 200btc I think over a few orders at the £13 range, the "arbitrage" opportunity its still happening now, there is somebody trying to get 269btc @11.7 right now thats about $19 and still $17 on mtgox, maybe not many people have money and coins in multiple accounts,

I don't think this is over, two big drops and partial recovery so far, the first was 25 to 20 then up to 25 again, looked stable for a short time, then slowly heading for 20 again, leading to 2nd drop  from 20 to 13, then another recovery, and looking stable for a short time.... here comes the 3rd 4th 5th?

would anyone be surprised about more drops testing $10 before the weekend is out?. we've been overdue for a correction since way before it hit $10 remember.

back to the britcoin thing again, am i misunderstanding the process here? I'm not a trader remember, but I see guys trying to buy btc on britcoin at £13+($21)(the same £13 when mtgox was $13) but nobody is selling, cant you just sell to them at £13/$21 and then go and buy them back plus more at $17-$18 mtgox? why are people not all over this.

does that mean the REAL correction is still on its way then?

will we see a few more major drops before the weekend is out?, maybe test that $10 a few times.

at one point when mtgox was at $13, britcoin went UP to £13.1,

*edit* the britcoin price is still way off mtgox, anybody got an account with both? free money?

Is it now or never for the long overdue correction I keep hearing about? I know a lot of people sold when it was approaching $10 and are still waiting for price to come back down to below that level, the rally seems to finally have lost its momentum and were in a lull for a bit, but I'm starting to think if it doesn't at least start the "correction" RIGHT NOW over this weekend it never will, I think come next week if we're back at $32 and heading for $40 I just can't see it getting into single figures again barring it being made illegal or a technical fault appearing within bitcoin,

I'm not an expert remember, just watching and thinking
 

hmm, I thought we were all on the same page regarding a single entity gaining 50% hashing power being bad, I'm very surprised that some people claim not to see the problem. apart from the double spend threat from the owner himself. somebody could take over deepbit and have instant control, not a hack, literally kicking his door down, for somebody looking to attack bitcoin, like the government or somebody else, the problem goes from how do possibly gain 50% of this?, 20 new supercomputers? or somehow get worldwide synchronised take downs with cooperating governments? hmm how will we get the budget for that? oh wait, there's deepbit... 1 SIMPLE DOOR! 50% ta daa!  or it could be targeted via severe denial of service to be taken down briefly to weaken the total network for a fast attack, if any of those happen the confidence in bitcoin may never bounce back,

I remember somebody saying we could check to see if a double spend ever happened, like that's the end of that problem, but that is completely missing the point, its not the single double spend transactions he would get away with that's the problem, the fact that we know it happened after the fact would be the CAUSE of the massive loss in confidence in bitcoin, the news stories would be EVERYWHERE, panic selling would start immediately causing more panic selling it could potentially kill off bitcoin right now before it gets going,

it IS a big deal.

I'm not an expert but I wouldn't count on parity now, if you get the chance to get back in at close to the price you sold in a future correction just take it, lots of people thinking they missed the boat will be buying up bitcoins if they price comes down, especially if it goes under 10.

either way, you got 25k, better than a poke in the eye with a sharp stick.

I wish you luck getting back in altoid, I mean it.

that's my favourite post so far on these forums,   

its funny but expect a lot of mainstream media to use that reasoning also, hackers/terrorists/drug users ect.

FIRST PLACE BABY!!1 

*HIGH FIVES VOTERS*

If I had to choose a future between a consistent btc price increase or total network hashing power increase over next month or 3, I would choose the hashing power(as long as all the new guys don't just jump on deepbit and give him 75%....) we need the security of the network to catch up to the new attention bitcoin is getting right now, the value of btc is nothing without it, so a steady down trend or hold in btc prices while the network catches up is fine with me for the foreseeable future, that's close to what happened after we hit parity the first time is it not? overbought to parity = lots of attention, steady down trend correction while network got stronger and stronger, leading to this recent rally putting us back in the same position.

bear in mind folks I'm not an expert... on anything, it's just what i would feel more comfortable with

should we be expecting somebody to buy everything up to $10 in one go any moment? thats a pattern lately, everytime the sells mount up relative to the buys and take over the chart, we all see the "sell pressure" and conclude a downwards trend is about to happen, or this correction were all waiting on, it begins to happen a bit and then BAM! somebody buys everything that was on the page, thats been how most of the big upward spikes happened in the last weeks, the big buyers seem to be waiting for these moments when the sells start piling up so they can get them in one buy, maybe its safer than them driving up the market even faster with a 100k buy order sitting there,

again im just a pleb with no experience thinking out loud    it could very well be the start of a huge sell hitting parity in 3 days 

I wonder if this panic selling can continue beyond monday/tuesday since the buyers can't get their money transfered in on the weekends,  during the last weekdays all the big sells were followed with massive even bigger buys soon after(surprising us all everytime   ), it looks to be much harder for the buyers to do anything about a panic sell off on the weekends, is that a fair observation?

again im just a pleb with no trading experience watching and wondering