Ya this is beyond belief. Really pushing believability that he's had this technical problem he can't solve for more than a month, loan troubles, the BTC price has skyrocketed, and he never put any notice on weexchange even when he knew it wasn't functioning. I feel I gave Ukyo the benefit of the doubt but now it just pushes credibility of his story past the point of being believable.

I'm so annoyed. I didn't even need to transfer any btc in to weexchange in the first place, I moved it there the day unverified trading stopped....

My guess is he was gambling with other peoples' money. Which sucks, as I hate how banks do this, and that is part of the reason why I love bitcoin, because I didn't think I had to worry about my deposits getting gambled away, but it looks like that happened. I HOPE I'm wrong but as was saying, I feel a month is plenty of time to resolve a technical issue.

I'm worried about Ukyo's safety now. I only have around a 1 btc lost in this so I'm totally pissed, but if I lost 10,15,20 or BTC I would probably do something rash and I imagine there are many people in that boat.  Because I really doubt a lawsuit would be effective, cost effective, and I doubt Ukyo has the funds to cover his grave mistake even if the lawsuit was successful.

I could have really used that 1 btc though damn....but ya, some of you are missing way more than me so I'm going to limit my complaints...

Just wanted to vouch for prodigits as well.

I was in ragin's group buy and it fell to crap, that guy is incapable of running a group buy and is borderline incompetent to run anything, including his own life it seems.

Prodigits went a long distance to help everyone in the group buy and it was pretty impressive move to refund folks with his own BTC. I don't think anyone knows all the details of what happened, and I have not been following after the blessed miracle of getting some a refund from the group buy, but I can say that from what I saw prodigits shouldn't be holding a bag here , he was boned more than anyone by ragin.

I would have thought I'd be prepared for this last 2 weeks of craziness in the bitcoin world but I'm just not. It's just plain nuts. I still can't parse the prices we are seeing. Every single time I set expectations for Bitcoin, even when I first heard of it a long time back, each time it blows away my expectations.

Even if someone said it'll be like $20,000 a bitcoin someday I can't say any more that that is ridiculous.

I think this also shows how weak and rotten the fiat currency world is, but suppose that's a different discussion...

I'd say a video card.

Just like that it makes sense to mine LTC today.

You can go buy a video card, do your own LTC mining with that, and once in the while you get appreciate the side benefit of being able to play really video games effectively 

Still don't think it is reasonable comparison.

For example, I had 200 bucks in Gox the last few weeks.  Today I bought the equivalent and transferred my 200 out in Bitcoin. Immediately.  Not a month+ please with no reply.

Really, let's not get caught up in the hypothetical details. I think anyone would see that you just can't compare WeExchange's withdrawal difficulties to Gox's.

Added to the fact the Ukyo took out a huge loan (over 500k) which there are worries about as well and anyone can see that we have a problem here.

Maybe the problem is technical and Ukyo in fact just can't work out the withdraws. But it is reasonable and legitimate to worry and or doubt that is the case, so people have the right to complain and enquire further. 

That went really well, I'd say.

Props to Mr . Murck as well. I didn't have much opinion on the Bitcoin Foundation before, and now, it is a bit more favourable, I thought his position and delivery were both pretty good.

This isn't an accurate comparison either. On Gox you can buy bTC whenever you want and transfer it out immediately.

All the time I've been waiting for a crash it has just gone nutz. I really can't even really parse a 700+ btc price.

No ones knows for sure.

Personally I don't think a crash is coming at all, today anyways.

You are wrong.  People have the right to complain when they transfer money to a service, and it takes weeks or more than a month to deposit withdraw.  Whether they plan to buy hats, drugs, kittens or books with their money is their concern and not yours.  

I really think this are different this time around. The world of BTC is vastly different, and larger, than where it was at the last 2 bubbles.

I'm guessing a correction is coming but I do not expect this time around that there will be a huge crash, and I don't think we'll go under $200 again. I think the new bottom will be around $350.  Anyone's guess. I do feel pretty confident though that even if you bought it today at 525 or whatever crazy price it's at, and you can be patient, you'll be able to sell it again for this price after this 'bubble' has come and left.

Especially with the Chinese loving BTC these days, and no more shackles to Can't-handle-the-transactions-gonna-crash Gox, the potential for a sharp quick price-plummet is not nearly as there as it was just 6 months ago.

This is because BTC price is so high.

LTC doesn't automatically follow BTC ,it is not pegged to BTC.  To a minor extent yes, but not fully.

If BTC went to 1000$ tomorrow the Litecoin ratio would plummet further. Not because LTC is bad, but because LTC's value is independent of BTC's value.

One more example, if LTC is $4 today and BTC doubled tomorrow, people would not be willing to pay $8 for a litecoin, it might only boost LTC price to 5 or 6 bucks, so the BTC/LTC ratio would lower.

Hahahaha awesome man thanks.... this is me atm.

This is a big problem and many people are in the same boat.  I've been waiting about 3 weeks myself and some more than a month.  You can check 'the fall of ukyo' thread for more updates on this.

I'm willing to give Ukyo the benefit of the doubt but people have already been really patient and it can't last forever.

So many red flags here, in this situation. I admittedly don't know the specifics of bitcoind operation so can't comment on how feasible his difficulties are. But at the least WeExchange is all but closed, so there can't be that many deposits going in, even if they were just processed manually I would imagine people would not be waiting a month.  I've been waiting 2 weeks now...

Also annoyed that the problem was going on for more than a month but no notice was posted to WeExchange about it. In the end I didn't even need to transfer my BTC to WeExchange and would not have done so if I was aware there was a even 1/100 chance of my money being held up....

I wonder if BTC price does crash tomorrow if there will be 'magical fix' to the withdraw problem and people will get their BTC. I only have 1.4 stuck which even two weeks ago wasn't such a big deal initially, but now that that is worth +/- $750 its difficult to be patient. No reasonable person would expect it to take weeks to withdraw BTC they just deposited to a site.

I'd say your 4 stages are pretty reasonable, thanks for the read.

I don't think it will have much effect myself. Though who knows ,maybe just a little panic is enough to trigger a crash  (sure hope so, would love to buy back in).

US gov' financial policy is created and dictated by Goldman Sachs, so undoubtedly there is going to be hostility to BTC in the US. The actual relevance of Bitcoin has little to do with how the banking cartels will react to it. They will naturally see Bitcoin as worry because Bitcoin actually has value backing it up, so eventually it lead to further inflation of funny-money USD which is printed at ridiculous, unsustainable amounts and headed for even more inflation.

Anyways, back on topic, I'm going to say tomorrow will just be some informative posturing, not much will come out of it, won't be much of a blip of news stories about it.  I think BTC price will largely be changed because the US gov' is not as relevant to Bitcoin as some believe them to be.

Knew about bitcoin back when it was cpu mined.  

Researched it, read up on it, mined it with cpu for 3 days... lost interest.  I don't remember how much it was back then or even if there was exchanges or anything, it could not have been more than 1 or 2 bucks at the time a coin though.  Thought nothing of it and forgot to set my computer to auto-mine when it's not in use. Could have made a mint.

Fast forward a year or two. Interest in BTC was re-kindled when I read somewhere that it was going for $5 a coin. I remember being shocked it was $5.  I was thinking about doing some mining, but was doing the calculations and saw that for all the effort and power costs 'wasn't really worth it' enough to get me enthusiastic to mine with video cards. .....Yup, that was dumb. What was worse was I was working a p/t job reviewing computer hardware for a website and so had access to heavily discounted video cards, I paid about 1/3rd of retail and was getting the newest products on that market, often even before they were sold.

Ugh. Ya.

Got re-caught up in the bitcoin price boom of last year. I bought a few hundred dollars worth of coins at $14 and suddenly they went to $50 -$60, and climbing.

Spent 15 bTC towards a whopping 12 GH coming from Avalon in batch 3. Of course Avalon screwed that up, it was months late, and we'll only give me a 50% roi. You can buy 12 GH for like .6 BTC now or something.

Had a decent amount of Bitcoins and what did I do August? Invested a lot in Asicminer stock. I bought a lot at 3.5-3.8 BTC per share thinking it was undervalued...it slowly declined to around 0.6 BTC per share.

I made some good profit and my mining farm of 8 gpus at its peak brought in a lot of coins, but ended up losing much between Asicminer and Avalon.

So ya those are 5 terrible moves.  I could have made a bundle at least twice, maybe more times...but it's funny even with all those bad decisions I've still come out well ahead (hard not to when we are at $500+, which I still can't believe happened already) and have had a ton of nerd-fun, and now love Bitcoin even more.

The exchange was started to trade mincoin. I mean that is a pretty bad start of things isn't it.

I'd recommend doing tons more reading of forum before making a decision to buy. Ultimately it is up to. Generally it is considered that mining now is a risky proposition if you are trying to turn a profit, no matter which chip you go with, because of always sky-rocketing difficulty.

The sticks can not mine scrypt coins, only btc and other sha-256 coins like ppc and a few others.

There are no asics for scrypt currently. So mine scrypt coins with video cards mostly.