US going to shit
naaaaa....we good. Don't lie to us  I hope we don't go too far in it. Or if we do it will all end in really nice nuclear war... |
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"Troll" and laugh...
I do like bad dramas... I have no invests so I'm fine either way. Though if I had spare cash I would like to grab some coins at 10€ each...
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yes, it should stop
TECHNICAL GLITCHES and FLAT OUT MARKET MANIPULATION (.001btc orders), and adding UNFUNDED ORDERS. etc
is NOT FREE MARKET. it's MANIPULATION.....................
just to be clear. technical glitches, abuse, DDOS all that stuff is NOT FREE MARKET. don't be calling it what it's not.
You are fully free to choose a market place that doesn't not suck. Or not use any market place at all and instead do it straight... |
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Does BitPay freeze for 12 hours? Do they accept coins at a rate which may change dramatically when we resume trading?
Bitpay will keep doing exactly what they've been doing. They have no reason to stop or freeze just because the price is going down. Since most items' prices are tied to USD, Bitpay will recieve the same percentage no matter what the exchange rate is. My soap bars that I sell are tied to USD. So now that the exchange rate has gone down the amount of BTC it cost goes up. Bitpay will still receive the same USD percentage. But isn't bitpay basicly taking the price info from retailer in USD, converting that info to BTC and then taking BTC in payments and selling this at market price and then moving this to retailer? But if they can't sell the BTC where do they get money? And if the exchange race drop don't they have potential for large losses? |
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Why?
Free market should be allowed to correct itself.
Or if price doubled in short time maybe we should halt trading too?
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Could you not redirect the "surplus" hashpower to another pool of your choice (P2Pool springs to mind) until the "threat" has passed?
Details around fees might be problematic but I'd imagine there might be a smaller pool or two out there that might be happy to get the boost from time to time and forgo fees for a super miner like BTCGuild overflow.
Problem is having control of such hashing power in the first place. Distributing it around really doesn't help on that. There is still potential to grab it and use it. They go and distribute the hashing power. Now, if they were to stop this at one point and try something like double spent attack? There is nothing to prevent this, apart from not gaining the power in the first place. Well it all comes down to who got what blocks right? If BTCGuild is not stamping out more than 51% of the blocks there is no threat ... it doesn't matter how that hashpower got directed towards the blocks. Who directs that hashpower? And can you trust them not to abuse the power at any point? Getting the blocks isn't really the issue. It's the fact that they have potential for it. And this should be avoided. |
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i think it's great they halted trading, only happens to be about 36hrs too late. MtGox.com @MtGox 12m @awad_ziad Hello, We are upgrading our database. Trading will resume afterwards. http://bit.ly/YoCqON i very much doubt it but i pray that they might actually improve something, but we can only hope 36 hours for upgrades? They really haven't planned this stuff out? |
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Decentralized exchange is rather harder problem than bitcoin. Atleast if you want it to work on resonable time intervals. P2P trading could work, but the moving of fiats is rather slow and then there is trust issues...
Only real solution is more good exchanges with each having smaller part of the pie...
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Could you not redirect the "surplus" hashpower to another pool of your choice (P2Pool springs to mind) until the "threat" has passed?
Details around fees might be problematic but I'd imagine there might be a smaller pool or two out there that might be happy to get the boost from time to time and forgo fees for a super miner like BTCGuild overflow.
Problem is having control of such hashing power in the first place. Distributing it around really doesn't help on that. There is still potential to grab it and use it. They go and distribute the hashing power. Now, if they were to stop this at one point and try something like double spent attack? There is nothing to prevent this, apart from not gaining the power in the first place. |
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I don't think BTC will go under 100 USD, at least not for a long time...
This month. |
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I dont know if it has been sed or not by why not just make a difrent pool
pool1.btcguild.com:4575 pool2.btcguild.com:5452
and combine them on the websites frunt end
You still have to trust same guys... They don't want to have 51%+ of hashing power, EVER. |
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Some are just trading to make profits. Cash out now, buy back in when price corrects. Gain more coins.
And I for one believe the bitcoin economy isn't yet where price is.
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According to the IRC conversation with Magicaltux, the exchange engine and front end are running on the SAME SERVER
If that is true, it points to a level of amateurish hackery which is unbelievable.
A system like this should have multiple geographically redundant load balancers, multi-tier hierarchy of workers, web engines, trade engines, market data and charting engines. The DNS should be run by an independent DNS provider and they should have DDoS protection, regional failover, graceful degradation, etc etc.
It seems they have none of that, nor any clue how to do any of it. It's not even expensive nowadays, it just requires knowledge of scalable distributed systems.
MtGox was always PHP/mysql, including the trading engine. Do you know if it is still the same? Umm, isn't using PHP at trading engine bit incompetent? For web stuff yes, but trading engine? Haven't they really not hired any professionals? With industry experience? |
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Rollback? I see lawsuits coming.
MtGox is just too big for their own competence... If they were small player that might be okay, but as biggest...
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According to the IRC conversation with Magicaltux, the exchange engine and front end are running on the SAME SERVER
If that is true, it points to a level of amateurish hackery which is unbelievable.
A system like this should have multiple geographically redundant load balancers, multi-tier hierarchy of workers, web engines, trade engines, market data and charting engines. The DNS should be run by an independent DNS provider and they should have DDoS protection, regional failover, graceful degradation, etc etc.
It seems they have none of that, nor any clue how to do any of it. It's not even expensive nowadays, it just requires knowledge of scalable distributed systems.
One server? With amount of money I heard they have around? At minimum the web services should on different servers than the trading... Truly amateurs, and I'm a amateur... |
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that guy screw over so many people now there panic selling
Free market is free. Everyone for themselves... Anyone with resources could have cashed out, and now cashed back in or at later point... |
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I say $ 85
$200
...I have to call 30.
I say $50...don't forget to quote each poster so he/she can't edit the figure later. I don't think it will drop below 100. 154 is my number. Lock it in
$8.50 - That's the number I've been going with since January, the bubble took MUCH longer than I expected to pop - but looks like we're finally headed down.
240$ anything below is UNDERVALUED BITCOINS ARE FOR SALE CHEAP COINS!!!!!!!! BUY I bought 10000$ coins at 230 and holding solid  Some more... |
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I considered 60.
But with current speed I think I have to call 30.
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If it's a bad crash they are smart. If it's not they don't lose massively at these rates...
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If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....
That isn't even necessarily true; if the bitcoin saturation of the world economy was maturing with mainstream bitcoin institutions and financial services, credit, widespread acceptance by merchants... let's say 2% of the world used it in 5 or 10 years. That would absolutely justify a price of 10,000 USD today. In 5 to 10 years, not now... In my opinion we aren't nearly there... How large part of bitcoin economy is fully done by bitcoin not, fiat->bitcoin->fiat? |
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