i find it amusing that socialist canada ranks higher than the US.
Essentially, that list is an inverse ranking of socialism. So, it is not quite correct to say that "socialist Canada is higher than the US," but instead that the US is demonstrably more socialist even than Canada. Pretty sad =( |
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This reminds me of some movie I saw where some fat kid puts a jellybean up his nose then puts it back in the bag then shakes it up so that no one else will ask for his jellybeans.
But with bitcoins they could see who made what transfer that a transfer was made.  Fixed =) |
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Not to belittle the victims of these incidents, but consider that the devastation helps innoculate the Bitcoin ecosystem against similar attacks in the future. MtGox is now more secure than it was, and new exchanges are matching or beating MtGox security. Anyone with large amounts of Bitcoins will be doubly sure not to keep them in dangerous places. People will be very careful about who they trust. Etc.
All these attacks, to the extent they are gruesome, educate the community about vulnerabilities. And indeed, it's better that they happen during this early adopter phase, instead of later on when our grandparents have portions of their savings in Bitcoin.
Hang in there everyone. More attacks are sure to follow. Learn what you can from them and adapt.
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I've had nothing but great experiences with Instawallet.org. It's very fast and convenient, BUT you must be sure to bookmark or copy your special URL, because that is your password. I'm amazed how quickly transactions show up there after sending coins to the address.
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So to get back on topic of my first paragraph.. the people who made large investments and have large bills
to pay must be crapping their pants.
Many people who may have spent between $1-3k on equipment are not "poor" and thus aren't going to freak out just because the investment hasn't paid off quickly. Those who will freak out are young, poor people who bought more than they could afford on credit cards and have no income from jobs etc. Who knows what percentage of miners fall into that category? Maybe a lot, maybe very few? But it's not like many people spent tens of thousands of dollars on mining hardware. These are generally not "big scary investments." |
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It's important not to overstate the importance of the visible bids and asks. Those show only the orders people have placed, but any number of additional orders could exist that haven't been placed yet. Thus, there is no way to know whether a wall is an overestimate or underestimate of true demand at that price.
Anecdotally - I am a "buyer" of bitcoins, and I don't have any placed orders. When I want to buy, I just do it at that moment, so my "interest" is invisible to everyone else. I assume most interest, on both the buy and sell side, is invisible.
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Haven't been scammed yet - but that's because I moved coins out of MyBitcoin after numerous sketchy postings about it's reliability.
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This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active.
It matters not the number of units of currency in circulation. Bitcoin would be just as viable with 200m coin limit, or 2m coin limit. So long as it's divisible enough to enable small purchases, the total number of coins is completely irrelevant so long as money supply is predictable and stable (criteria which Bitcoin satisfies very well). Loss of coins is bad for the person who held the coins, not for the economy at large (with the caveat of short-term psychological issues). |
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bought a lot.
Thanks, you and the ones that buy at this level are feeding the rig owners that have a ROI (return on investment) that are ridiculously high profitable. You as a direct buyer decide how much the rig owner should be making, they including me should be making a lot less money, but the direct buyer doesn't for some stupid reason understand that. That's pretty silly. |
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Dude get a photo of the place and post it. That's actually an awesome sign - I would not expect that kind of thing so soon. Pics pics pics!
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The bitcoin system is too slow to use on less than 5 minute transactions.
Not quite true. "Green addresses" and trusted nodes are solving this. I have made one or two purchases that took less than 30 seconds, and this response time will get smaller and smaller and the infrastructure grows. |
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My 20Mb internet connection is not fast enough to handle these swings lol
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People don't spend $2000 to open an anonymous LLC in a tax haven to conduct legitimate business.
People only do that to commit tax fraud, and now, bitcoin fraud.
A WHOIS lookup takes 2 seconds. Even without the WHOIS information I already knew it was a scam from their business model.
+1 agreed. -1 disagreed. Many people open accounts outside the US, because the US tries to interfere with and steal from their legitimate business. Now, perhaps MyBitcoin is a total catastrophe, and perhaps the owner was ill-intentioned all along, but please don't vilify honest people who simply don't want the tyrannical US Gov't interfering with them. |
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Again, I still think that there are a few market players in bitcoin artifically holding up the price and causing the scarcity. I would bet that a few people are responsible for buying most of the bitcoins that are going on the market.
What does it mean to "artificially hold up the price and cause scarcity?" Why are my decisions as a market participant "artificial?" I reckon it's because you don't agree with my valuation of the value of a Bitcoin. I think it would be equally silly to say that YOU are "artificially lowering the price" by not buying more coins. You think Bitcoins aren't worth $13. I think they're worth vastly more. Neither of our opinions are "artificial." I am not causing scarcity, and you are not causing over-supply. |
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Also, Title 31, sec. 5112, paragraph (k) of the U.S. code explicitly authorizes the Treasury department to issue as much money in the form of platinum coins as it wishes, at its discretion. So, in a pinch, Geithner could always just stamp out a few platinum coins marked "ONE TRILLION DOLLARS" each, and make the debt problem go away.
Lol it's funny cause it's true. |
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Looks pretty slick! I'd download immediately if I had an iPad  |
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I am really unsure these days about the bitcoin, while the currency it's self is perfect and implemented brilliantly, Its the 3rd party services which is needed for bitcoin to even be useful is what worries me the most, with thefts and scammer web sites popping up all over the place is really does damage the bitcoin as a means of usefulness. I would love to use an australian exchange but I have stopped trusting and if or when I get my current bitcoins back it will be quick sell off and out. Its a shame because of hand full of scammers want to hack sites like Mt Gox and couldn't be bothered administrators like mybitcoin owner, Who I feel needs to be monitoring a site as big as his atleast once a day. Anyway my point is while the idea of an aussie exchange sounds great there has been too much issues with Mt Gox to be able to feel it would be safe to trade there, And yes I know we have alot more talented coders in Australia which could prevent these types of things from happing, but it still feels unsafe.
You forget that part of the brilliance of Bitcoin is that if you don't trust anyone, you can keep them to yourself. Bailing on the coin because certain parties are sketchy is pretty silly. Bail on those parties, not the coin. |
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it was probably some kind of a wormwhole bug which caused MtGox to display the USD exchange-rate from some day in the future. With the realistic possibility of a US default, we could actually see it happens sooner than later.
LOL that's the best explanation yet. |
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USA liberalism is not real liberalism. The word got highjacked.
+1. They're only "liberal" to the extent that they're willing to spend other peoples' money. |
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make sure to mention bit-pay.com , i think they would like it the most Great idea, but bit-pay.com will only work for them if they want BTC deposits. USD deposits are only for US companies for the time being. |
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