By the way bitcoin is not more a store of value than ripple... seriously...

Dear Justcoin user,
 
You are receiving this email because you have a balance of XRP at Justcoin. XRP deposits, withdrawals and trading have been disabled for the last three days. This is an explanation of what has happened and what the status is.
 
A network-wide weakness in how both Ripple and Stellar communicated transactions was exploited by an unknown third-party to to deposit false IOUs through Ripple/Stellar to Justcoin. These were consequently withdrawn to their own payment networks as native currencies. The result was that our hotwallets were emptied. Most of our customers' funds is in cold storage but the amounts were still significant. Justcoin will not operate as a fractional reserve and therefore we decided to lock down all services affected until we had a solution ready.
 
Justcoin cannot and will not accept taking the responsibility for this weakness in the network. It is caused by a feature that is poorly documented and has been present in both Ripple and Stellar for a long time. Other gateways, exchanges and native transaction explorers have also been affected. There is also documented that the security vulnerability has been known by the network developers for at least 2 months without any kind of explicit and direct warning to affected gateways and other services. A thorough and technical explanation of the weakness can be read here: https://medium.com/@...ld-29aaefd8a7ac .
 
The result is that as of now there will be imposed a partial 'hold' on all XRP balances. This hold will be representing the amount of XRP that is missing. Deposits will be disabled until we are 100% confident that we are no longer affected by this weakness or any other yet undiscovered. Deposits that have been made between the shutdown and now will be credited in full once deposits are opened. Trading and withdrawal of the XRP that is not on hold is now enabled. Please allow delays on withdrawals due to moving of funds from cold storage to hot wallet. The percentage of each XRP balance that is on partial hold is 23.27%.
 
We can assure you that it is our intention that the partial holds will be lifted. We are looking at different options and are having a dialogue with Ripple Labs and Stellar foundation. We will try to figure out a way to solve this, one way or another. Expect regular updates.
 
We are terribly sorry for the situation but are asking for your understanding and patience. If you have any questions that are not answered here please don't hesitate to ask. Allow some time for us to answer as our support is under high pressure at this time.
 
Sincerely,

Crazy.  If we can just get those damn miners to shut off their rigs, the price of BTC would esssssplode!  Obvious inverse correlation!

The  30k btc wall was deleted , so nobody know  what is the answer at your question .

You just made a few percent. Kudos. Are you HODLING?

Of course the rapid fall has made me think about Bitcoin's chances. But without going into details, I don't think much anything has changed except the price.

When you think about buying or selling, then you should look at the price. And buy when it is low, sell when it is high.

Excuse my newbishness, but what does being a "top level NASDAQ exec" mean? Does he have power to influence the ETF approval?
Seems pretty bullish, but I don't really know what to make of it.

Q&A With NASDAQ's Dave Lavalle

...

Q: How long have you been at NASDAQ and what is your current role? What did you do before?

A: I've worked at NASDAQ for almost three years. Prior to working here, I managed a broker/dealer trader firm that specialized in trading cash equities and ETFs. Currently, I run the ETF market at NASDAQ focusing on the listing and trading businesses while supporting the issuer, market making and liquidity providing communities.

...

http://www.nasdaq.com/article/etf-insider-qa-with-nasdaqs-dave-lavalle-cm311066#ixzz39gjgj900

Executive Changes at Nasdaq OMX


David LaValle was named VP of Transaction Services U.S. in a newly created position overseeing Nasdaq OMX’s exchange traded funds (ETF) business.

...

LaValle’s role will be to oversee the ETF trading business, focusing on furthering the listing of ETFs while working with the market making community along with many strategic constituents that interface with exchanged traded funds, according to the release. LaValle will work across different Nasdaq OMX business lines including the Nasdaq OMX indexing, listing, capital markets and trading businesses.

By Cinthia Murphy | August 06, 2014

There are a lot of questions about the viability of, and the role that the Winklevoss twins’ Winklevoss Bitcoin Trust ETF (COIN) would play in a portfolio. The fund, which remains in the regulatory pipeline awaiting SEC approval, has certainly sparked a conversation about how far is too far when it comes to niche exposure, and [sic] peaked many investors’ interest.

But to David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, the first-of-a-kind ETF is nothing short of yet another major innovation in the quickly growing ETF market. LaValle, who not only oversees the exchange-traded product platform at Nasdaq, but also faces off daily with issuers, liquidity providers and trading firms, argues that the bitcoin ETF—which will be listed on the Nasdaq—is a win-win for investors, traders, the issuer and the exchange itself.

ETF.com: The Winklevoss Bitcoin Trust would mark the first time an asset comes to market in an ETF wrapper before it does in a mutual fund. Is that significant?

David LaValle: I think it’s significant that we’re on the precipice of a new investable asset that’s coming to market or becoming available to investors first in the form of an ETF. In some ways, it gives the ETF credibility, and it accentuates many of the benefits of the ETF as an investment wrapper. To that extent, it’s important for the ETF industry.

ETF.com: One of the criticisms we hear about the concept of a bitcoin ETF is that you can own bitcoins directly pretty easily, so why would you want to pay the fees on top of it that come with an ETF wrapper?

LaValle: We view this ETF as an analogue to some of the physically backed commodity products in the industry. The IRS’ ruling classifying bitcoins as commodity and not a currency would also support that.

But perhaps as an investment tool, it’s more easily manageable for a retail investor to hold their investments all in investment products. You can make a similar analogy to gold: I could buy lots of gold coins and hold them physically as well, or I could purchase them through an investment product like an ETF.

There’s availability for accessing the investment in different ways, and each investor is able to pursue that investment thesis through whichever wrapper they’re comfortable with. But I think bringing it in an ETF wrapper gives bitcoins more credibility.

ETF.com: Will a bitcoin ETF have a broad appeal?

LaValle: (...)

http://www.etf.com/sections/features/22835-nasdaqs-lavalle-bitcoin-etf-a-turning-point.html

By Cinthia Murphy | August 06, 2014

There are a lot of questions about the viability of, and the role that the Winklevoss twins’ Winklevoss Bitcoin Trust ETF (COIN) would play in a portfolio. The fund, which remains in the regulatory pipeline awaiting SEC approval, has certainly sparked a conversation about how far is too far when it comes to niche exposure, and [sic] peaked many investors’ interest.

But to David LaValle, vice president of transaction services for Nasdaq OMX and head of ETF business, the first-of-a-kind ETF is nothing short of yet another major innovation in the quickly growing ETF market. LaValle, who not only oversees the exchange-traded product platform at Nasdaq, but also faces off daily with issuers, liquidity providers and trading firms, argues that the bitcoin ETF—which will be listed on the Nasdaq—is a win-win for investors, traders, the issuer and the exchange itself.

ETF.com: The Winklevoss Bitcoin Trust would mark the first time an asset comes to market in an ETF wrapper before it does in a mutual fund. Is that significant?

David LaValle: I think it’s significant that we’re on the precipice of a new investable asset that’s coming to market or becoming available to investors first in the form of an ETF. In some ways, it gives the ETF credibility, and it accentuates many of the benefits of the ETF as an investment wrapper. To that extent, it’s important for the ETF industry.

ETF.com: One of the criticisms we hear about the concept of a bitcoin ETF is that you can own bitcoins directly pretty easily, so why would you want to pay the fees on top of it that come with an ETF wrapper?

LaValle: We view this ETF as an analogue to some of the physically backed commodity products in the industry. The IRS’ ruling classifying bitcoins as commodity and not a currency would also support that.

But perhaps as an investment tool, it’s more easily manageable for a retail investor to hold their investments all in investment products. You can make a similar analogy to gold: I could buy lots of gold coins and hold them physically as well, or I could purchase them through an investment product like an ETF.

There’s availability for accessing the investment in different ways, and each investor is able to pursue that investment thesis through whichever wrapper they’re comfortable with. But I think bringing it in an ETF wrapper gives bitcoins more credibility.

(...)

ETF.com: How big a win is it for Nasdaq to get this listing?

LaValle: We certainly view it as a win. The reality is that we believe Nasdaq to be the home of innovation across all of our business channels, ETF listings included. To the extent that the industry and the investing community are viewing this as an innovation in investment product, we certainly feel we’re at the forefront of that.

(...)

http://www.etf.com/sections/features/22835-nasdaqs-lavalle-bitcoin-etf-a-turning-point.html

The founder was a oil futures trader so I'm curious to what he plans to do w bitcoin

This is what panic looks like?