When mBTC (.001) = $1 then the SH*T is going to hit the fan. Can you guys imagine that? But, it is just a 10 billion dollar market cap, really not much. Call me when we hit 1 trillion... (Can someone do the math on that one...?)

If the banking crisis continue, and it looks like it will, it can happen this year. Understand, once we start going up there in price (say over the previous high or there abouts), the moves will be violent. 10%-20% moves in a day until we reach some type of consensus price are to be expected. And who knows when that will be considering the state of things.

I think we have no choice but to go to mBTC. As many have mentioned there is a psychological barrier to entry when "stocks" go above a certain price (which is why they split, at least in part) and with bitcoin we have the decimal places and following naming convention to take care of that. When you only have 11 million current outstanding shares, oh boy...

It's all about sharing

Good idea. I hate having to do this, but I will. Send me pm if you decide to organise this.

No bitcoins will be returned.

I'm commenting on something mentioned earlier in the thread:


First off: The prosectutor in any jurisdiction usually is pretty well paid, and he's also on top of the 'power structure', which means basically he's the biggest dog in the yard, and can do whatever he feels like. He/it has no incentive to 'play nice' or to 'care for customers' in any cases whatsoever. This is the current system we're dealing with. As a matter of fact, anybody can become victim to confiscation of funds, if some entity in power decides that something must be investigated. It need not even be a legit case, but heck - we keep all those millions of euros frozen 'just in case'. Basically forcing everybody involved to follow the will of the prosecutor. In such a system there's no freedom. Freedom is when you can manage and control your own money, and have nobody confiscate them.

That's where bitcoin is great. Now, there's probably a lot of small time investors that had money in bitcoin-24.com, and the prosecutors are telling these people to file a law suit ? Basically, if you're owed 500 EUR, then only visiting a lawyers office are probably going to set you back the same amount.

In reality the 'it can only be withdrawn by the owners by filing a civil lawsuit in germany' is extortion. It's the biggest bully in the schoolyard saying, yeah - you can have your candy if you pay me 100 dollars, then holding the candy up high out of reach asking for an amount that no kid can pay.

From the looks of it, it appears to me that Simon got in deep without the proper paperwork, and now he's inside the bureacracy machine, that will just do it's work, and they (prosecutor) can basically do anything they want, and more often than not - they say they do something because of a certain reason, while the true reason is something else entirely. And more often than not, even if there's been no crime - they (the prosecutor) will still be able to find something to charge you for.

I would advise everyone to accept bitcoins for work they do, and use bitcoins online and in brick and mortar stores, and using the traditional banking system as little as possible. Eventually, if enough people do this, we will have a real impact, and we will be helping Satoshi reaching his original goal.

I would've loved to see the attack on any bank that for no apparent reason shut down the bank accounts of high profile politicians, or the son or the daughter or the prosecutor himself. I can't see any prosecutor accepting something like that..

It's all about being the biggest dog, and at the moment, we're feeding the biggest dog.

here it is
https://www.bundesanzeiger.de/ebanzwww/wexsservlet?session.sessionid=177f1349e818404e843a1aa94d580597&page.navid=detailsearchlisttodetailsearchdetail&fts_search_list.selected=88a9d5e82d42f197&fts_search_list.destHistoryId=00202


basically its telling: the prosecutors have secured the money of the german bank account. it stays with the prosecutor until the procedure is finished. it can only be withdrawn by the owners by filing a civil lawsuit in germany.

Wohin schickst du dein Geld als nächstes? Warn uns bitte vor xD

hey, bitcoin-central.net ist ausgeraubt worden und nun offline!

siehe ankündigung auf deren webseite.
kopiert von bitcoin-central.net

-----------------------------------------------------
Apr. 25 2013 15:30 CEST UPDATE

Dear all, we'd like to give everyone an update as to what exactly is happening, has happened, and will happen in relation to the recent events at Bitcoin-Central.net.

Here are a few questions that require an immediate answer.
Have funds been lost?

A few hundred Bitcoins have been stolen from our hot wallet.
Will users lose funds?

No. We will cover 100% of the theft.
How did it happen?

Someone managed to reset the password from our hosting provider web interface, this enabled the attacker to lock us out of the interface and request a reboot of the machine in 'rescue' mode. Using this, the attacker copied our hot wallet and sent away what was present.

This very hosting provider (OVH) had been compromised a couple of days ago, in the exact same way, leading to loss of funds on mining.bitcoin.cz.
What is the plan?

We have taken the decision to suspend the service for the time being. Coming up with a different security approach will take some time. We owe it to our users to be on the safe side.

As a consequence we will refund everyone who so wishes up to the last cent and satoshi and take the needed time, without rush, to come up with a platform, an infrastructure and procedures to meet the new challenges that are faced by the Bitcoin exchange ecosystem at large.

Doing the right thing is not always easy. It's ok, riding the Bitcoin is not for the faint of heart, we'll take the time to prepare and we'll be back.
How exactly will this happen?

We will reopen the platform tomorrow, but won't be accepting any new Bitcoin or Euro deposits. Users will be expected to clear their accounts in order for us to settle all balances.

People who have very small EUR balances that aren't practical to wire will be offered a settlement in Bitcoin at generally available market rate at the time of the settlement.

Users will be able to place wire transfer orders, they will be processed as usual. The Bitcoin transfers will be processed directly from our cold-storage and will be sent as daily batches.
Can we refund everyone?

Yes, because Bitcoin-Central has, is, and will always will be full-reserve. We can refund everyone at the same time.

Unclaimed balances will be held until they are claimed, if they are still not claimed when the platform reopens they will be made available to the relevant imported user accounts. All Bitcoin balances left with us will be held in cold storage.
When will I be able to get my BTC/EUR back?

As soon as we re-open you will be able to request your account settlement which will be processed as fast as possible.

We aim at reopening the web interface on April 26th at 14:00 CEST. In case of delays we will post additional updates.

We thank all our users for their trust and business.
We thank everyone that supported us when everything was starting to get hard.

Anyone willing to give me some truth why probably no one responded to my post?

Is it my doing? What could I improve?

Now all we need is for Satoshi Nakamoto to make a second coming and smite those with the mark of fiat ($$$).

Wurde mehrmals von Usern angesprochen, ob ich das projekt nicht bei bitfunder einstellen kann.

Wie gesagt, auf Wunsch "behalte" ich deine Anteile bei bitfunder und zahle sie dir dann manuell aus.

*kopfkratz... 

Right on Or how to transform a message of rejection into a message of acceptance. The CEO of paypal just said openly they kick anyone out who touches bitcoin and if it continues to grow they will just launch their own cryptocurrency.  

Another way for money to flow into their coffers. Of course they are not likely to offer BTC as a payment option, though they could. Bitcoin kind of sucks for retail because six confirmations can take hours. That is why Bitpay etc exist. It's kind of a tiny market for Paypal though.

More likely is that they would allow you to fund with BTC so you can spend with fiat. This might appeal to people with BTC who prefer it didn't touch down in the banking system before they spend it as fiat. For the exchange risk to be acceptable to Paypal would require a considerably larger, more robust and sophisticated BTC/fiat market than exists at the moment.

People who believe Bitcoin's survival implies the wholesale overturning of the existing financial order are being over dramatic. When a new disruptive technology such as the internet comes along a few big companies who don't adapt go bust and a few new big companies emerge. The rest adapt their businesses and carry on. By and large the rich people stay rich and the poor people stay poor.

You are not thinking clearly. BTC would add nothing to Paypal, BTC is an enemy for Paypal.

They are looking into crypto, but they won't embrace BTC.

No, I will have to spend my bitcoins by doing that

@600watt: I feel like someone pointing a gun at my head and saying:"Revolution or die!"

Something mediocre can happen, like, bitcoin becomes just another E-currency, like ukash, okpay, LR, etc? I think it will survive as long as miners can justify the investment, and the difficulty adjustment mechanism probably make sure that the network can remain self-sufficient within a very wide price range.