Their exchange rate was $590 when I bought, while Coinbase was at $550. I have no way of knowing if that was just lag in changing their rate, or if that's how they make money. My guess would be the former because of how fast the rate was going down today (they probably use a 24 hour average or something), but it might be 50/50. The only fee they explicitly charged was the .0001 btc transaction fee.
EDIT - There may have been a small fee and I didn't notice - I honestly just wanted to deposit $20 to say that I did, and I was talking to the people who set it up the whole time, so I wasn't paying much attention.
Coinbase btc price is highest in exchange market, and the atm is even higher, well for the difference in time it's a great deal |
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it will take time to spread all over the world... and at least you cannot rob it phisicaly  Sure you can rob it physically, remember the bitcoins are coming out, but the cash is going in. |
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Like MAGIC, if the Mt Gox btc value drops to $1. Mark can easily show you that everyone's coins are covered and secure.
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Amazing,
if you buy into MT Gox you have a:
90% chance that you won't see 100% of your money
80% chance that you will see at least 10% of your money
5% chance that you will see any profit
and a
100% chance that you will have learned a valuable lesson.
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"The Rise and Rise of Bitcoin" great title
I suspect it only covers til April 2013?
Certainly not past December 2013.
Otherwise it would be called: The Rise, Rise, Bump, Thud, Plop, & Sputter Of Bitcoin.
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wow, pretty cool
congratulations
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That's really difficult situation. I also don't think it is good to ask help from the Feds. It will work only with U.S. companies.
What do you call "work" What outcome would you expect to see if govt intervention 'worked'? |
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I have talked to a guy who is working in the environment of Mark Karpeles. He claimed that Mark has some kind of a agreement or even secretly involved in an "investment company" who is going to offer Bitcoin investment vehicles like ETF´s.
The question is whether Mark even starts or give in order the malleability ddos attacks to have an excuse for a longer period of downtimes on MTGox.
I think now it makes all sense. We have small Bitcoin prices due the manipulation on every exchanger which makes it actually really attractive to build a bitcoin portfolio.
I am in touch with this guy and will inform you about updates.
For more related information I am willing to pay Bitcoins.
I'm sure thousands of investment ideas are presented to him on any given day, nevertheless his is quite busy at the moment fighting for air, I doubt very much if anyone who may have gotten a green light (with or without investment) will see any additional participation from him. |
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lol ok small claims court for Over seas companies.....Yep ok you're right . G/L with that
Yep, not easy collecting your claim. I do wonder how it would work as the Feds do have some of MtGox's assets already (google "Feds Seize Assets From Mt. Gox’s Dwolla Account, Accuse It Of Violating Money Transfer Regulations"). I presume you could make a claim against that, but I would guess that the Feds have #1 priority on that cash and wont give it up easy. It's possible that money will go to the government in a civil forfeiture and no-one will be able to claim against it. that would suck since it's customer's funds and not even mtgox's that they seized. so they hurt the people for doing nothing wrong and that EXACT same thing would happen again, once you call the police you can't direct, manage, or otherwise control them when they respond. govt interference is not the answer folks, not in the short term and not in the long term, self-regulation IS the answer |
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I don't really know how they could have done better...
We as humans living in advanced societies are CONDITIONED to operate top down leadership communities, we are accustomed to complaining from the bottom up, so when a problem exists the NORMAL thing to do is complaint to management. The FOUNDATION positioned themselves as major management for major bitcoin matters, as such when the Silk Road issue came to fore, the foundation was expected to move on it, likewise it is expected to make a meaningful move on Mt Gox. If it cannot, will not, and/or should not do so then perhaps they should reconsider how they want to be viewed in the bitcoin community. I'm a proponent for self-regulation, Mt Gox screwed up, nevertheless they pointed to a known and existing problem, and made it a major issue. Any board member that makes a big deal out of ANYTHING that results in the widespread disruption of the market the issue MUST be investigated and acted upon. If it is determined by the board that the problem was NOT a major problem and that the board member acted irresponsibly they must remove that individual from the board. OTOH if the board determines that the board members actions were valid then they need to stand by that member in a major way for the stability of the market. If on the odd chance that they find that the board member cried foul BUT the no confidence vote went in his favor, then they should tacitly support the board member from a distance, in which case the board takes the heat with the board member. They can take another no-confidence vote if they wish. |
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I think we can operate along side it. The current foundation will die a slow death if donations cease. The first objective will be to get a site up and running (which is in the works as we speak) and a forum for ideas to be debated and decided upon. With alot of hard work, transparency and honesty we can make the old foundation redundant.
You're building a site while nobody has agreed on who will lead nor who will be in this Foundation? That makes sense. "If you build it they will come." My reservation is that there is not enough of a ground swell for any community based organization, the current foundation is NOT community based, yet somehow people think that it should be treated as such. This thread needs a minimum of 100 SOLID members to publicly say yes they will support the effort before I feel comfortable that there is a reasonable basis for a community effort; someone else may feel 2 people is enough, More importantly, I believe that community efforts that grow out of negativity, protest, revolution, or hate are often short lived, or quickly sidelined, or become insignificant fast. Community efforts that grow from positivity often result in slow widespread and long-term adoption. |
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It's unreasonable to expect any coin to be developed without a premine.
Absolutely false. There are plenty of good coins out there without a premine. If you are dead set against all premines that is your prerogative, nevertheless it's unreasonable to expect that to be the industry norm. I'm seeing a ton of coins going down primarily because of a lack of interest. Who do you expect to talk up the coin -- the miners? Everyone reasonably expects that whoever created the coin take on some level of leadership role to guide the ship when it needs guiding, to motivate the team when the team needs motivating, and to do what he must do to move that exchange value up -- when no leader exists or when the leader sees that x, y, and z miners literally have 2 or 3x what he has he figures heck you have more coins than me you go and talk to the exchanges, you make a faucet, you make the website, you talk to the media, you create the giveaways, you take the technical questions, let me do some mining ... The community will talk up a coin if it has value. Look at Vertcoin. No premine. The dev instead created something unique with some degree of innovation. People bought the coin and talk it up because they believe in it, not because some dev bribes people with coins that are then dumped on an exchange. Even if you only have a CPU the advantage you'll get from being one of the first miners is enough of a reward. Unless of course you plan to not have decreasing block rewards and changes in difficulty. Amazing how people look at and value the time and energy of others. Who pays for management, who pays for organization, who pays for distribution, who pays for marketing, who pays for the coins in the giveaways, who pays for concept, who pays for design, who pays for development, who pays for outreach -- you see the type of maze one must negotiate if all of the ducks are aligned right the first time. If a coin is not premined it isn't because they don't have costs, its because someone choose to absorb those costs. That behavior of chronic absorption of development costs has given you and very many others a skewed entitlement view of what goes into coin development. You know there are costs involved in everything that you do, if necessary was done and you didn't pay for it, and there are no back-end taxes or fees to pay for it later, how do you see that as a fair or equitable system? |
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Domain Name For Sale ---> www.CRYPTOCURRENCYPROFESSIONAL.COMI will consider all offers, including but not limited to trade, a partnership arrangement with the domain being my equity contribution. or good old (or new) fashion currency I have no minimum or maximum, I like doing the type of deals that result in two happy principals -- WIN-WIN deals Yes, I have other domains available for sale and am willing to bundle. |
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This type of action is EXACTLY what you guys really don't want. You are literally asking for trouble.
I'm telling you: Handle it internally, you don't want to invite the govt via any of their departments or agencies involved more that they already are.
You're asking for the WRONG kind of help.
If he gets locked up (criminal) or locked down (sec) either way you get locked out (funds frozen).
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Domain Name For Sale ---> www.CRYPTOCURRENCYFAUCET.COMI will consider all offers, including but not limited to trade, a partnership arrangement with the domain being my equity contribution. or good old (or new) fashion currency I have no minimum or maximum, I like doing the type of deals that result in two happy principals -- WIN-WIN deals Yes, I have other domains available for sale and am willing to bundle. |
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I support: 1) multiple foundations to further the cause of bitcoin, additionally, I support foundations: 2) to further the cause of all cryptocurrencies, 3) that are organically formed, meaning community centered, mission oriented, bottom up elections, top down management, and all around accountability, 4) with a clearly stated mission, plain language bylaws, and self funded (dues, events, etc) I believe there should be multiple foundations and that at least one of the foundations should: 5) form in an ad hoc fashion so as to allow for a great airing of views, and to allow the community to get to know itself 6) after about 1 month of open community discussion, a steering committee (SC) should be formed for ALL of those who wish to serve on that committee, 7) 3 days after formation, giving time for campaigning, the first meeting should be convened where each member will formally introduce themselves to the SC and indicate what skill, experiences, talents, and/or resources he or she wishes to contribute to the foundation. For example: Hi, I'm Bob Jones, email: bob.Jones@gmail.com, owner of Bob's Bits, a bitcoin exchange; I'm a CPA and I would like to run for treasurer and chair the finance committee, I've worked for ... This introduction can be done in different ways, email, skype, forum, or many other ways. 8 ) After everyone has been introduced to the SC. Someone (anyone) should move that an election be held immediately to determine the leadership of the SC. 9) Vote immediately for 3 leaders, in case of a tie create a fair tie breaker 10) After the 3 leaders are elected, the three should vote for Chair, Vice Chair, and 2nd VC of the SC. 11) After formation of the leadership, the leadership should form: a bylaw committee, a finance committee, a election committee, and any other committee(s) they feel necessary for the formation of the foundation. 12) After all of the committee formed the Chair should determine the committed chairs for each committee. 13) Each committee chair should solicit the help from the SC population for committee membership to help determine goals for each committee and to achieve those goals by the next meeting 20 days later. The leadership should be available to assist all committees 14) At the next meeting it should be announced : - a name, website address, and email address for the foundation, - the bylaws for the foundation have been determined - $X amount of funds have been collected - Y# of members - a formal election of board members has been scheduled for ____ date and - any other info to report 15) after each report the chair of that committee should move for adoption of that report and recommend it be accepted by the full committee. The motion should be seconded, and a majority vote of the full SC will determine the fate of the motion. 16) after all reports are adopted the meeting is adjourned until the date of the election of the board members. The bylaws will pickup from there If done right, it will be very, very, hard work, you will make many friends and a couple enemies (some for no reason at all), you will have the transparency, you will have the necessary leadership, you will have your goals, and you will have a way of achieving those goals. |
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Domain Name For Sale ---> www.CRYPTOCURRENCYKEYS.COMI will consider all offers, including but not limited to trade, a partnership arrangement with the domain being my equity contribution. or good old (or new) fashion currency I have no minimum or maximum, I like doing the type of deals that result in two happy principals -- WIN-WIN deals Yes, I have other domains available for sale and am willing to bundle. |
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They're not a democratically elected body, nor do they speak for the whole of Bitcoin any way.
they are the leaders of the industry, they are the one's that set the example, they are the one who set the tone, they are bitcoin in corporate flesh if you want to start a new board it can start today, but unless you are willing to give time and money to take heat from the world your best bet is to work with what you got. Remember, the foundation isn't paying you, you are playing for the opportunity to serve the foundation and get disrespected on an international lever from everyone with a bitcoin as soon as the value drops, or a board member reveals that he's human. The overview of the foundation you have given is bad they are not the leaders of the industry actually what industry are you even talking about? They set the example? Like setting the example that mt gox is the best exchange out there? They set the tone to what exactly I fail to understand your reason that you haven't provided. if they are not what I claim them to be that what other entity comes close to that description? Corrupt Foundation which doesn't represent anything Bitcoin related except for promoting services which steal your money. I asked you to tell me what OTHER entity comes close to the description that I provided for the foundation. the simple fact is there is no other entity that comes close to representing bitcoin. The foundation doesn't run Mt. Gox any more than they ran Silk Road or run anyone's company, they are an independent body there to do as I indicated and whatever it is that is there mission. But if you or anyone else don't like them I am willing to help in the effort to start a new foundation. I see no good in using good energy for negative purpose when that energy could be used to build positive purpose. |
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Could start a petition to remove the Bitcoin foundation all together I doubt many people want this though as there is good potential there.
Why would they listen to a petition? I've served on boards and elected office, everyone in those situations listen to petitions, but don't forget they may also have other interests to consider. Let me ask you this, has any of you called any of the board members? |
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