Oh and it gets worse From the IRC chat of Nanashi and other hackers, it seems that the hacker also have access to a 20GB data dump of customer data along with passport scans. This is much worse. A whole new slew of lawsuits heading their way. |
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Probably the most discussed (serious) topic on here.
Notice how you are fudging the issue (as almost everyone seems to): peer to peer exchange of crypto/crypto vs peer to peer exchange of crypto/fiat.
The latter is the real problem (although I'm not saying the first one is particularly easy).
Why bother with fiat? It is a doomed experiment. The banksters had their day now it is time for them and their puppet politicians to get out of the way because of a new revolution. People who keep comparing crypto to fiat in terms of worth just don't get it. If you don't use fiat, what are you exchanging? Bitcoins for...? |
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Do OP realize that bitcoin is 5 years old. And it costs more than 100$ just from about 1 year.
So your charts are not realy showing why Bitcoin days destroyed ...
as majority countries are banning the bitcoin defo going down back to normal price $20 Which countries? Please provide a list. Majority means most of the world, which is false. Major countries implies countries with significant clout (high GDP, population, some other metric), which is also false. |
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If you get enough funding, it would be neat to put a GoPro or other camera in it. They're waterproof and such so they should be fine when you recover them (assuming the impact isn't too hard).
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I am a software engineer and fairly early adopter of Bitcoin. I have also recently quit my job.
I have a fairly large amount of Bitcoin that I would like to invest into bettering the Bitcoin community.
What is a product or service the industry is lacking or that can be done better?
I would love to get it up and running.
The Bitcoin convention is coming up, my suggestion to you would be to attend since you have the financial means to travel to Amsterdam and the time since you quit your job. Talk to people there and find what interests you most. |
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Why are first investors the biggest winners? Isn't the payout 121% for everyone? The first investors probably have the best chance to be paid but that's different than being the biggest winner.
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If you are not holding your coins in a wallet you have the private key for then you are not holding your coins at all. If you are giving some of your coins to a site for some reason such as trading you should remove them as soon as you are done trading. If you are not allowed to remove them quickly then you should stop using that site immediately.
Basically this. However to the OP, in the case of Gox you literally had YEARS to see this coming. Yes, years. They've been hacked, rolled back transactions, had their Dwolla account frozen, slowed the withdrawal process to a trickle, all of this well before the latest fiasco. People who got burned simply had their head buried in the sand. People, including myself, have been warning others on the forum to stay away from Gox for a long long time now, so another thread on what to do isn't going to do anything. People are going to do what they're going to do. |
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lol. who's left?
Coinbase amongst others. |
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But I'm quite sure that even in a world ran by BTC, people would still like to have their money available at all time, even if this implies slightly higher risk/lower intersts, especially if the deposits are guaranteed by the government.
Higher risks always match to higher rewards, not lower rewards. And if you want to deal with an enterprise that practices fractional reserve with bitcoin, it means that they have control over your private keys, not you. This is antithetical to the bitcoin model. You understand this, right? Sorry about the interest thing. I've mixed things up. Yeah of course higher risk=higher reward. I was thinking about GICs: They offer an higher reward than checking accounts in exchange of the inconvenience of having your funds unavailable for a few years. This is antithetical to the bitcoin model. You understand this, right?
Yes... And no. Of course, SOME bitcoin idealists/early adopter, that see banks and fractionnal banking as being necessarely a bad thing see in Bitcoin a way to evade that. It is, and those people may freely chose to never entrust their btc in a buisness operating in fractionnal reserves. But claiming that, by design, Bitcoin's higher goal is to get rid of fractionnal banking seems like a stretch to me. If anything, I believe that the first and foremost design goal of Bitcoin is to give back to the people the power to hold their money and the freedom to deal with it as they see fit. Remove that power from banks and governments. Bitcoin cannot prevent people from operating fractionnal reserve buisnesses (but I makes more difficult for a buisness to claim that it doesn't when it does). Early adopters dislike fractionnal banking, but most people dont. If bitcoin ever gets mainstream, nothing will prevent people from operating a buisness operating in fractionnal reserve, and probably that a lot people will do buisness with them. Not the early adopters, but they don't care as long as some people do buisness with them. You're correct that it's more about freedom, hence the reason everything is decentralized and open market. If the market wants a fractional reserve system, then one will rise. Hopefully what happens is people learn from the mistakes of the current fractional reserve debacle. For instance, maybe it's not smart to have only 10% in reserves. Maybe something closer to 50% is safer. Just because a system is misused doesn't necessarily mean it's broken, I think this is essentially what you're trying to say? |
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"Bitcoin will die when the US shuts it down"
"Bitcoin will crash when SilkRoad gets shutdown"
"Bitcoin will die when MtGox is shutdown"
Just another in a long line of FUD.
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It's funny as hell, have a sense of humor.
I do have a sense of humour, hence why I didn't find it funny. Only airheads would find hilarity in that cheese-fest. Lighten up Francis, Stewart is hilarious and it's COMEDY central, what did you expect? |
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Someone started their Friday night partying a little early (and has no idea what "treason" means).
Yeah but using big words makes you look smart even if you don't know what it means. OMG I forgot to post with an alt $(*&^$#!!! |
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Nice!! So I loose 73 Goxcoins and also I'm going to get sued for some 5000 Euros.
Mark just when I think my ass raping cant get any worse. Got to hand it to you mark buddy.
The Goxing Never Stops..24/7 365..Even after Gox dies, Goxing goes for eternity. Thank you Mark, its been a blessing. First you Gox, then you become goxxed, after that you are permanently goxxed. There's no escape really. Someone needs to make a "I got goxxed and all I got was this crappy T-shirt." |
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Basically, no. That thread is totally FUD. MtGox was offering a trading service... they might have been running a fractional reserve, but it wasn't a ponzi scheme.
Basically this. Plus it was reported Gox had almost a million customers, you think they're going to sue a million people? C'mon. |
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You know, there are various altcoins out there that do not have a fixed supply. Why don't you go with them?
My point was not "fixed supply is good or bad". My point was that even if Bitcoin is built with fixed supply hardcoded in, the -effective- supply will not by, with buisnesses operating in fractionnal reserve and governments building reserves. It would still be fixed because it would be similar to the gold standard in which everything is tied to something. You needed to have some amount of gold to print notes, you would need some amount of Bitcoin to do the same. This is different from now where most fiat in the world can just be printed with nothing but faith backing it up. |
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You can't unequivocally say regulation is bad. It's just as ironic as the "fuck the government" crowd who then goes and whines to the police when they get hacked. Can't have it both ways.
Regulation isn't the problem, corruption is. Too much power in the hands of a few. What needs to happen is regulation should be put on an even playing field, not be made so that only banks and wealthy individuals/corporations can afford money transmitter licenses and the like. There need to be small business options.
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"Bitcoin is a ponzi scheme."
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I feel like I'm the dumbest person on earth right now. Nah chin up buddy, the dumbest person on earth would be anyone who falls for your scam.  |
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