So you are really buying the fact that it is a technical glitch that it is only affecting the "larger" withdrawals?
As I posted previously, it appears to affect both small and larger withdrawals. Though larger withdrawals, which have to draw inputs from a larger number of other transactions might have a greater probability of using some outputs which have already been used. The comment on the article I linked to just above (Comment #27 on http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/ ) has a pretty good discussion of what is likely happening. A very frustrating and annoying situation due to incompetence, but I suspect not malice. |
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just got off IRC with Karpeles.
it's a technical glitch, not insolvency. they're still working to fix it.
Which channel do you find him on? I've looked occasionally and don't see him on the obvious ones. I agree that the available public record of the withdraw transactions supports the idea that it is most likely a technical glitch. Nonetheless, that exchange really needs to clean up its professional act. |
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Also quite sick of this attitude of Apple's. I've owned iPhones for over 6 years now and Apple computers much longer. But my next phone will likely be an Android.
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This is curious. Just posted a number of withdrawals of various amounts. The first two smaller ones (<=1.0 BTC) went through quickly and immediately appeared on the blockchain. Subsequent withdrawals, whether larger or smaller, have failed to appear, despite Mt. Gox producing a transaction hash and emailing it to me. The long term history of their behavior has been honest, but it appears there is something seriously wrong with the their BTC withdrawal code. Comment #27 on the article at falvinge.net ( http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/) seems to point to a race condition in their withdrawal code, creating transactions which attempt to double spend the same outputs. This can apparently be verified on Mt. Gox's api for their transactions. This would point toward another technical glitch, rather than fraud. |
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Right, but housing was also fueled by bad lending practices, and housing is apples and oranges compared to bitcoin, a more apt comparison is dutch tulips if you wanted to make it, of course BTC will bubble, its not the top you should look at for BTC health, its the floor, and the floor seems to be doing great by all accounts, the last crash saw the floor at 400+
Apparently even the famous "tulipomania" may have been driven to a large extent by the Dutch government changing laws governing such contracts (see http://en.wikipedia.org/wiki/Tulipomania#Modern_views). Most of these large historical bubbles are where the government had a hand in distorting the market, like the recent 2008 mortgage bubble. Bitcoin is interesting in that the bubbles seem to reflect the bubbly enthusiasm, but without government driving it (so far as we know). |
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At least in the U.S., one of the primary problems with healthcare is the lack of a real market for the products and services. Since the tax code provides that health insurance premiums are considered pre-tax, most people have their insurance through their employers. Thus most purchasers of insurance don't directly know the premium being paid and evaluate it against the benefits received.
The apparent cost of bottom dollar coverage, like only paying $20 for your $100 primary care visit, is reduced, and so people pay to insure things that wouldn't normally be insured. They also don't tend to know the true cost of the visit, the lab tests that are ordered, the medicines, etc. In such a market, of course the price of everything goes up and up.
The question I am puzzling over is, how could bitcoin break that cycle and put price incentives back?
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Phoenix Bitcoin Meetup on Wednesday February 5th, 7-8 PM, at Ultimate Consignment in Mesa, AZ. http://www.ultimateconsignment.com/mesa.htmThis is the monthly lecture series on Bitcoin. Subject this month will be Bitcoin wallet software, backups, and best practices, including demonstrations. We will also have the usual exchange. Please note that we will be starting the talk on time at 7 PM because of the venue closing at 8. Also note that UC accepts bitcoin for purchases of all merchandise in the store! |
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Read through this thread again with great interest. Many thanks to DeathAndTaxes for pursuing this.
Would you be willing to post the text of the request for clarification and your recent revision of it?
Hopefully eventually an answer will be produced.
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The housing bubble and subsequent crash was caused by government interference in the economy (Freddie Mac, Fannie Mae). It's not clear that the speed of the rise was the primary cause of the problem.
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history, as stated prior, does not support your claim. i don't know how it's going to end up in france, but high taxes historically have not hindered the economy.
It strikes me as rather difficult to prove such a claim or its contrary on a historical basis with any degree of certainty. There are a lot of other confounding factors. |
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The current MSB/MT regulation is a massive economic boom for the GreenDots, PayPals, and Western Unions of the world. They will move massive sums of money in lobbying to kill any attempt that opens the flood gates for competitors.
Maybe this time will be different, it certainly is needed.
Classic regulatory capture. This does suggest why Bitcoin businesses should try and fight the regulators and exempt themselves whenever possible. The whole notion that placing a transaction on the blockchain is somehow the equivalent of transmitting sovereign currencies from one place or time to another on behalf of another party seems rather a stretch legally. |
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France is shooting itself in the foot, may as well be shooting itself in the head. When these key people in the economy decide to either leave France or just plain stop doing what they do the French economy will slide ever more quickly into the gutter.
They never learn, do they?
Sort of like in "Atlas Shrugged". |
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The next Bitcoin Meetup will be on January 8, 2014, 7-9 PM. Location Change! The meetup will be held at Boulders on Broadway in Tempe, 530 W. Broadway Rd. http://bouldersonbroadway.com/contactOur talk will be "Bitcoin Basics - Learn the fundamentals of Crypto Currency" by Alex. We will also have our usual BTC exchange at this time. |
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The next TFMOX - Tempe Farmer's Market Offline Exchange is December 21, 7-9 PM. Trade Bitcoins for cash, precious metals, and other valuables. The market also accepts Bitcoin for groceries during this event. http://tempefarmersmarket.com at 805 S Farmer Ave, Tempe, AZ 85281. |
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There is an ongoing attack on wallet.dat files which were created by the old Apple BitPak client program.
The developer stated that the wallet.dat file was backed up in encrypted form on DropBox. This client program was removed from the Apple Store in mid-2012, but people may still have backups on their Dropbox account.
It turns out these wallet.dat files were not encrypted, and consequently there is an ongoing attack right now which is hacking into people's DropBox accounts, where passwords may have been obtained due to re-use, stealing the wallet.dat file, and then stealing the bitcoin.
The wallet.dat file backup for this old client is unencrypted and can simply be downloaded from DropBox, then dropped in as the wallet for Bitcoin-QT and the coins removed.
Whoever it is has been removing the bitcoin to address 1BjxoP5BDwxPG4myiXhJK8zWownJUbd4K4 and has netted at least 29 BTC so far.
Can anyone help trace who this might be?
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My next phone will likely be an Android device. Despite being a long time Apple fan, I am fed up with this policy of theirs.
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Arizona Bitcoin Meetup This month a bit of delay for the meetup which will be held on Dec 11, 7-9 PM at Boulders On Broadway in Tempe: http://bouldersonbroadway.comTopic will be bitcoin market pricing analysis. Why price is what it is and what future prices will likely be in a year, 5 years, and 10 years. Discussion focused on trading/speculation/market aspects of Bitcoin. As usual, we will also have the trading board. |
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Please attend our next meetup on November 6th 7-9 PM.
Topic for discussion this month will be privacy of bitcoin, and we will also have the beginners breakout session to help new users get started.
The meetup will be held at Habaneros Mexican Grill
10392 North Scottsdale Road, Paradise Valley, AZ
and you can purchase with BTC.
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The big difference in the price hit this time may be that so far the Mt. Gox trading engine is holding up.
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