ATH on Mt. Gox? Does it really matter... People will just withdraw their funds from them at any cost. Then the price will plummet.  |
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Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.
I think it might end up even in cent range per coin. The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium. And from that group there is also part that moves to next improved coin. And the forks of used coin... So not zero value, but near there... I just imagine a lot of people will refuse to sell their $1000USD bitcoins for less than at $100 each. And the lower you go, say $25... is it even worth it? If you put a million dollars in at $1000, it would be 25,000 at $25. And of course, $1 = $1000. Would anyone even bother? It just seems unlikely for there to be enough selling pressure in the tens... Then they just keep holding those coins... There will still be some available. It's unlikely though that they will invest more for ever. Just think of what people have done on stock market before... They are a group who want to use it as currency not as investment. Probably group of early adopters who are likely on plus side at that point... |
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Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.
I think it might end up even in cent range per coin. The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium. And from that group there is also part that moves to next improved coin. And the forks of used coin... So not zero value, but near there... |
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switch it over to another crypto.
There isn't yet the big one around. And by that I mean new coin that was launched by large institutions... |
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If tobacco and alcohol can be allowed, then why not cannabis?
Exactly. I have the view that what should be available should be based on real scientific research. And in that case alcohol might be on wrong side. There are also many other drugs which effects on health are marginal. And as such they should also be allowed. On other hand there is also really harmful drugs around. We should have common criteria which we judge on what drugs and mixes of drugs we should allow and what to control or try stop distribution and production. |
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This is my view on GPUs, not on ASIC...
It's a duopoly nearly. In reality Nvidia and AMD both also supply other sub-manufactures.
So really you always have option to buy from someone else. And if they were running it together they should be doing much better...
New tech is always available in limited quantities. I'm not saying that there isn't some cases where some retailers or manufactures have done some unethical or borderline unethical things, but I don't think there is any real problems.
You got many models available from two companies, made by many different companies and sold on many different retailers.
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Why bitcoin is still so high?
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So the wealthy exploit labour until all the labourers die? It's not a zero-sum game. People have to be kept alive for you to continue violating their human rights. If the government stopped feeding the walking dead, we'd be forced to exercise our rights and LIVE, and the wealthy wouldn't be as so, anymore.
Live on what? And where? |
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FYI, "neoliberalism" is not really a widely used term outside of Germany.  And even then, they seem to mean slightly different things. And Krugman is just another of the Wizards of Oz. In this article he's pointlessly rambling about food stamps. Yes, probably the US Republicans are wrong, people do need food stamps as long as we live in a dictatorship of banking, corporotocracy and the military-industrial-oil-complex. But ultimately, we want to fix the causes rather than the symptoms, don't we? Fixing causes is quite inhumane... And who get's to choose the 10-30%? |
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The Olympics has turned into a playground for the rich. That in itself would not be bad, but the destruction of lives of innocent is quite simply inexcusable.
It is truly a sad world where we cannot stand up for things that are right, all united.
It's so easy to accept the wrongdoings forced upon others, as long as we ourselves are not affected. Any olympic sponsors or associated entities does not receive a dime from me. If only everybody did the same. But most people wants to see circus, and does not really care.
Olympics were invented as playground for rich. The elite needed something to spend their time on. |
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144K coins are a little bit more than 1% of the current amount of coins in circulation. If they get released, the total amount of available coins barely changes. Sure, if the FBI market-sells them on an exchange it would temporarily crash the price, but they're not that stupid. The coins will most likely be sold in one or more auctions where some large whale will be happy to scoop up 100% legal and accountable coins.
Dude, stop your bullshit with your ''amount of coins in circulation.'' You have to look at what is traded, the volume on exchanges. That's what counts in a market. There are hundreds of trillions of USD in circulation, that doesn't mean crap on Wall Street. You're clearly too stupid to realize that. All exchanges combined don't even have a 144,000 bitcoin volume (and some even fake their volume, especially Chinese exchanges). If 144k coins get dumped, it will ruin bitcoin's price. And not just temporary. The market depth of BTC-E is good to notice. It's supply and demand. In a way Silkroad bust might have even increased the price. As there is less coins used in circulation opposed in holding. I think relatively large share of those 144k coins were in use as currency which means they were traded and not stored... Which meant availability on exchanges which lowers the prices... |
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Gox is almost entirely on fault here.
There are always people who are ready to commit Fraud. It's job of service providers to stop them.
On other hand halting all transfers are rather suspicious as problem is with manual or automatic retransmissions... Which shouldn't be too hard to disable and handle manually...
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Bitcoin is going down. Anyone holding bitcoins now is a complete moron.
If yesterday's actions, and news about a major, unfixable bug in Bitcoin Network, didn't change your mind, you DESERVE to lose all your assets, and I wouldn't feel sorry for you if you lost everything & committed suicide.
Sell now people, I am being serious. This ship will sink very soon.
you missed the boat and still want cheap coins. Away with your FUD! Dude, the world's largest Bitcoin exchange, there since the beginning, likely holding hundreds of thousands of bitcoins (10s of millions of $) just basically told everyone they're shutting down. (But in a way reminiscent of inputs.io) There's no way to pretend yesterday didn't happen. Bitcoin will be dropping. And at the minimum they told they aren't up to level of competence they need to be. So there might be doubts about other exchanges. One shouldn't really give away money, especially when it isn't theirs... |
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Does it matter?
No BTC or USD coming out...
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7% change in a day for currency is quite bad...
That doesn't really lead to working economy...
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... I then tell MtGox staff that transaction A didn't confirm. They check it and they see transaction A was rejected and will never confirm but what they don't realize is it was just changed to transaction B by me, so they resend the transaction.  Profit. Can they not just go back to such conversations with people that claimed this, and then figure out who was scamming them? Is there some sort of plausible deniability here for the scammer in this method that I'm missing, or not? They should know who got extra coins out, but if they cleared their account there isn't much to do. There is even possibility they didn't provide real ID... |
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You're technically correct on that point. But it's only one exchange, mtgox, that allowed this limitation to grow unchecked into a major problem, you agree? The problem is removed if only sufficiently* confirmed transactions are accepted. (* I'll admit I don't know how deep into the chain they need to be before the risk is neutralized)
Your misunderstanding here is how it works I deposit money into gox and withdraw it mtgox sends it to my address and it get transaction ID A I mine a block and include the transaction in my block, but as the miner I can CHANGE THE TRANSACTION ID TO B. I then tell MtGox staff that transaction A didn't confirm. They check it and they see transaction A was rejected on the blockchain but what they don't realize is it was just changed to transaction B by me, so they resend the transaction. Profit. And no one knows how long it took for them to notice that numbers don't quite line up in their balance sheet... |
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Show me why other exchanges do not have this problem with withdrawals but ONLY MTGOX?
Remember MTGOX is using a custom version of the bitcoin software. This is likely the reason they have issues with their exchange platform.
Because the attack involves mining your own block, hence requires lots of hash power so is difficult to execute unless you've got stacks of hashpower. It may also be noticed by a smaller exchange when they noticed their balance is much lower than it should be. A couple hundred BTC missing from Mt Gox wouldn't go noticed, it would go noticed from cryptsy. They will most likely try to execute this attack on other exchanges unless the devs push a fix fast which they are working on right now. Who wants to keep their wealth on service that doesn't exactly track their funds or audit them regularly? |
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So are they saying they got their USD transfers working again?
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After seeing all the butthurt it causes, I have to say that I fully support MtGox.
Never support incompetence... So how much funds you have in Mt Gox or how much are you moving in? |
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