Intelligent people will look at the facts and make their own mind up, but when most just see headlines of FLAW FOUND IN BITCOIN PROTOCOL - PRICE CRASHES and IS BITCOIN A PONZI OR A BUBBLE? etc people tend to get scared away.
I read that article actually (IS BITCOIN A PONZI OR A BUBBLE?) it's really a great piece... check it out https://coinreport.net/bitcoin-a-bubble-ponzi/I think we all need to accept the fact that bitcoin is 1) here to stay. and 2) it will get coverage on media outlets whether good or bad. The only thing that bugs me is when the mainstream media go outta their way to portray negative views about bitcoin. They make themselves look bad (pointing fingers towards fox/cnbc...) Altho i do agree with the above comments that any coverage of bitcoin is good because it shows the strength of the community as a whole. If the media says something wrong about bitcoin, we see rebuttals pop up instantly around the web. I think especially nowadays you can't really hide the facts for long... |
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It is a shame, however, how Mt. Gox has caused the market to falter.
I'm using this opportunity to buy a few more bitcoins and have been telling my friends the same (of course that is if it makes sense to them)... people need to realize that the best time to buy is when an asset with great fundamentals like bitcoin is coming down in price (especially for mtgox reasons). This to me is a bargain at current prices... prices might fall a bit more but it's still good time to be buying in my opinion. |
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If anyone's familiar with the history of mtgox over the past 2+ yrs then you would know that these guys weren't fit to handle the amount of money being exchanged on their platform... they have no background in market making either which if a big "player" wanted to.. could easily sway the market in any direction they pleased. I'm glad to see mtgox crumbling and i hope they don't comeback without a proper system. There's billions at stake! https://coinreport.net/mt-gox-disappoints/ |
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Isn't the problem on the banks end, not PP?
The problem is PP trying to save their own behind when it comes to it.. they would much rather screw over their sellers.. Bitcoin could very well one day go toe to toe with PP... it's really not that difficult to picture |
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Mining is what makes bitcoins, if mining becomes unprofitable, the difficulty can decrease due to less people interested in mining. It is far from being the case when you look at all the crazy people pre-ordering mining very expensive hardware that they will receive months later.
the only way for miner to make a profit is to Hodl and wait until price goes up to cash out.
But i agree with the fact that the price of bitcoin has to match the mining difficulty increase in some way...
There's a poll open over at kncminer's forum on whether the people that placed preorders for their Neptune hardware will cancel the orders or go ahead with it. The difficulty of the over all network is definitely not stopping anytime soon and i find it hard to see how it will ever slow down unless of course the central banks and goverments around the world collective ban bitcoin (which is even more unlikely altho a case could be made for russia) It feels like 2014 is gonna be the year where goverments around the world tried to take a bite of the bitcoin pie.. |
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I stopped believing Bloomberg news a long time ago
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lets face it.. it really has been not the best week for bitcoin.. mtgox is crumbling but i'm hoping they won't disappoint further in their upcoming PR and what could one say about Apple... let's just say the lost a customer for life! https://coinreport.net/bitcoin-weekly-february9-2014/ |
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I hope it goes to 500 buy buy buy buy buy.
Yeah... if it touches 500, then I'm also buying a ton. That's what I said last time it dipped below 500 but the chance came and went just as quick... didn't get to buy then until price was back up past 650.. so i feel pretty safe buying around current price |
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I think andreas got a point.. currently the financial system we have looks more monopoly like than capitalism where the rich (too big to fail banks) get away with crimes on a daily basis or at best get a slap on the wrist for costing economic disabilities in countries around the world... https://coinreport.net/andreas-antonopoulos-cleptocracy/ |
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I suspect Gox is looking for coins they don't have. Typical consequence for doing fractional reserve bitcoining.
Not really sure what the exact extent of the issue is or what the exact issue is for that matter.. but for sure it isn't looking good at all... mtgox website is down for me as well. This reminds me of how Germany asked for their gold back from the US Fed Res.. and they got a reply of it'll take 7+ years... yeah like hell they'll get it all... It was down yesterday for all but seems to be working ok now. So basically he wasted an air ticket from Australia to Japan and 3 days to find out nothing more than was already available in the press release?
This is quite bizarre behaviour. Did he go straight home after the 3 days? He could've at least made a holiday out of it. Yea the site was down for me for around 4+ hrs atleast. He got to attend to Tokyo bitcoin meetup there i believe where he shared his story with the local bitcoiners |
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So basically he wasted an air ticket from Australia to Japan and 3 days to find out nothing more than was already available in the press release?
It's very different when you get to meet in person those who run the show... so would imagine it was a different sort of "satisfaction" for him.. he did mention that he's glad he visited them in person. See, we don't know how many bitcoins he has with them..could be many or could be few but he did what he thought he had to |
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I suspect Gox is looking for coins they don't have. Typical consequence for doing fractional reserve bitcoining.
Not really sure what the exact extent of the issue is or what the exact issue is for that matter.. but for sure it isn't looking good at all... mtgox website is down for me as well. This reminds me of how Germany asked for their gold back from the US Fed Res.. and they got a reply of it'll take 7+ years... yeah like hell they'll get it all... |
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Maybe this is a boat now as well. 30% dip in 48 hours and after withdrwal is fixed bumps up at 250%. Well just a guess but maybe it can come true.
I'm definitely treating this dip as a buying opportunity.. this panic sell is nothing more than a fear sell off due to mt.gox issues which they will be resolved next week.... people that sold the past 2 days will then rush to chase after the price.. and that's how we're gonna get a huge bump in bitcoin prices. |
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I just place a large (for me at least) order with tiger direct and paid in bitcoin.
Was cool as hell. Even fills out the send order for you.
I will post a screengrab tomorrow maybe just for posterity. Sure felt like just spending money but less paperwork.
Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.
May seem off topic but I find it to be a vastly superior form of doing business and that is all.
To me, this is much better proof that PayPal and the legacy are operating like a ponzi. If they've really got the money, what's the hold up? Surely they're not using your money to patch a hole in their finances, then waiting until someone elses money come into the system to pay you. Which sounds like there isn't enough money in the overall system to cover all the obligations. Surely not.... I wonder if, as time goes on, the waiting period for money to move around in the legacy banking system gets longer and longer. I've had really bad run-ins with paypal over the past 10 years. Most of those have been to the favor of the buyer... paypal is setup to screw its "little" sellers. And not to mention their ridiculous fees and the hold time on transactions whenever they feel like it without justification. Even chimps would do a better job a paypal.. no wonder they're threatened by bitcoin |
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This could go either way but one thing that's for sure is that this will definitely get bitcoin more attention in the media and especially the financial news outlets than it already has been getting... ETFs are usually very risky depending on their structure Having over 7 years of trading experience, i will for sure be watching this ETF.. i believe next year is when it'll make its entrance.. then again.. who knows what the ETF market or the stock market by then will be like.. markets change on a dime!
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BTC dipped by 30% in 48 hours. If incidents such as these are common, then BTC will never become mainstream.
Thats actually how we will become mainstream, when weakhands and hoarders dump their coins its a buying opportunity for new comers. More coins being distributed is a good thing. Ppl have been complaining $800 is too expensive... well now its their chance to buy some. I will be buying some more as soon as my wiring done. i remember when people were complaining that ~5$ back in 2011-12 was TOO expensive... boy oh boy.. how wrong were those folks.. i bet most of em kick their own @ss before bed every night for missing out Yeah, I'm missing the boat on that one as well. sry to hear that... maybe we'll have another boat coming soon |
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BTC dipped by 30% in 48 hours. If incidents such as these are common, then BTC will never become mainstream.
Thats actually how we will become mainstream, when weakhands and hoarders dump their coins its a buying opportunity for new comers. More coins being distributed is a good thing. Ppl have been complaining $800 is too expensive... well now its their chance to buy some. I will be buying some more as soon as my wiring done. i remember when people were complaining that ~5$ back in 2011-12 was TOO expensive... boy oh boy.. how wrong were those folks.. i bet most of em kick their own @ss before bed every night for missing out |
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Hurray for logic! Too bad hardly anybody is going to read this and keep repeating the same bullshit.
You're absolutely spot on you know... for most people.. ignorance is bliss .. |
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I just place a large (for me at least) order with tiger direct and paid in bitcoin.
Was cool as hell. Even fills out the send order for you.
I will post a screengrab tomorrow maybe just for posterity. Sure felt like just spending money but less paperwork.
Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.
May seem off topic but I find it to be a vastly superior form of doing business and that is all.
lol that's epic.. paypal sux sometimes  |
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