361
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Bitcoin / Bitcoin Discussion / Re: Money run by Gox and conspiracy happening right now (Joint statement topic)
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on: February 25, 2014, 06:36:03 PM
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1) Segregation of Customer Assets from Company Assets 2) Rules to ensure solvency of counterparties (margin requirements for trading) 3) Rules for timely crediting of deposits and processing of withdrawals 4) Rules to prevent insider trading and self dealing (manipulating the order book) 5) Regular audits to ensure safe keeping of Customer Assets
If there were an SEC regulated exchange for BTC, BTC Futures, and BTC options, I would be the first to sign up and trade there. As they say, "Return of my principal is more important than return on my principal". Right now, how do you know which exchange you can trust? You don't, and that is a transaction barrier. The closest to regulatory compliance I can see is Coinbase, which is at least registered with FinCEN and working toward figuring out the regulations in any states where it might be necessary. They also appear to have (if their claims are accurate), a reasonably good protocol for securing coins and keeping them in cold storage. Gox claimed to have cold storage, but I don't see how that claim can possibly be consistent with losing the vast majority of customer funds.
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363
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Bitcoin / Bitcoin Discussion / Re: Money run by Gox and conspiracy happening right now
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on: February 25, 2014, 05:16:29 PM
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Guys, don't want to spread FUD.
Just facts:
Well that would be good, but typically when someone starts by saying that, 99% of the time, they follow it up with FUD, and not facts. We'll see. It's sort of like "I'm not a racist, but. . ." is invariably followed by something racist, and anything that comes before "no homo" is the gayest thing you ever heard (not that there's anything wrong with that).
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364
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Economy / Service Discussion / Re: The Gox Plan
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on: February 25, 2014, 05:09:48 PM
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I had more on there than you. Is there even a glimmer of hope for us? You seem very confident it is gone for good as it very well may be. Just hate going down without a fight. Is it worth it? Will 700k+ BTC in the hands of thieves really be ok for btc in the long haul? I understand free markets, but this will be the toughest pill to date for the media to swallow.
I doubt that. The media is usually downright gleeful at any chance to piss on Bitcoin. This is just more chum for the sharks.
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367
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Economy / Service Discussion / Re: Why are people defending MTGox?
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on: February 25, 2014, 09:33:40 AM
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I'll defend anyone against rumors, amateurish "leaked" documents, and unconfirmed allegations.
It's to everyone's benefit in this community that we have accurate, solid information and not jump to conclusions. Circumstantial evidence is being used to declare MtGox insolvency as a foregone conclusion, rather than just a fairly high likelihood. This is wrong. It is poor reckoning of evidence, even if they do turn out to be insolvent in the end.
So why does what actually happened in reality seem to correspond to what's in the document? gox.com now points to mtgox.com, which is now a blanked page. On top of that, they closed their support ticket system. Someone had to do that deliberately. Or did trolls somehow fake that, too?
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368
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Economy / Service Discussion / Re: Gox Gone, Insolvent
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on: February 25, 2014, 08:53:45 AM
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Bitcoin = wild west = scam/idiots, sadly yet again..... (so much promise that continues to be wasted by a community that accepts these behaviours) There was the occasional sheriff in the Wild West. And malefactors got strung up or at least horse whipped, tarred and feathered, and run out of town on a rail. In any event, this amateur hour bullshit needs to end. How difficult is it to comprehend the idea that people who run an online trading game card exchange are not necessarily to be trusted with hundreds of thousands of other people's BTC and millions in fiat?
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369
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Economy / Service Discussion / Re: The Gox Plan
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on: February 25, 2014, 08:51:20 AM
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OP misses a key thing - if they were verifying transactions by txid, and not acknowledging spends as they were confirmed, if they were confirmed under a different txid, it is entirely reasonable that MtGox failed to realize all these bitcoins were gone. It also lines up perfectly with why they had so many failed withdrawals - they were trying to spend txouts that had already been spend, but their shitty software failed to realize had been spent.
So they were basically too busy smoking weed they bought off Silk Road to pay any attention to what was actually going on at their exchange. Fish in a barrel. Fucking idiots.
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370
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Economy / Service Discussion / Re: Gox Gone, Insolvent
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on: February 25, 2014, 08:39:15 AM
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So basically, aside from some corpspeak bibble-babble, their strategy is to change their name. Because that's all I took away from that load of happy horseshit.
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372
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Bitcoin / Bitcoin Discussion / Re: Silk Road 2.0 hacked through malleability, ~4000 BTC STOLEN
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on: February 25, 2014, 08:30:18 AM
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I imagine that he got scared that he would be caught by the feds, so instead of taking the profit over time and risking his ass, he decided that he was much safer just stealing the funds all at once.
The admin is continuing to operate the site and diverting the site's commission to pay everyone back. The site rakes in millions of $ worth of BTC per month in commission. Nobody in their right mind would jeopardize that income for a measly 4000BTC. Nobody in their right mind would risk a mandatory minimum life sentence to deal drugs for any amount of money.
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373
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Economy / Economics / Re: My bank account's got robbed by European Commission. Over 700k is lost.
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on: February 25, 2014, 08:29:33 AM
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Have you done much reading of history? It works fine and better than every other system tried to date. It is the only correct answer you ignorant fool. Begin with such stunning periods as the Enlightenment. Adam Smith, "Wealth of Nations" ... frankly I don't know why I bother you are so far off the pace to be something of a lost cause really. So which countries during the Enlightenment practiced anarchy successfully? I seem to recall most nations were monarchies at the time. You know, kings like Charles II, William and Mary, Louis XIV, Leopold II in Italy (who among other enlightened things abolished the death penalty), etc. Are you honestly citing this period in history as an argument in favor of anarchy? Because in the nations where Enlightenment thinking actually took root and was enacted, it was generally through the absolute power of monarchs. When the monarchs didn't want to go along, they were sometimes eliminated, like in the French Revolution, but they were certainly not replaced by anarchy, but by an even more tyrannical Terror apparatus such as that of Robespierre. When I think of Enlightenment political thinkers, names that come to mind are Montesquieu (who gave the Framers of the U.S. Constitution the concepts of separation of powers), John Locke (whose political philosophy certainly concerned principles of government and not anarchy), Voltaire (who once worked for King Frederick the Great), and numerous others who were known not for wanting to abolish government, but to change its form, particularly from monarchies to republics. Rousseau, I'll give you. Many of these thinkers were deeply influenced by Thomas Hobbes, who was the exact opposite of an anarchist. I am completely at a loss how you can cite the Enlightenment in support of your position.
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374
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Other / Off-topic / Re: I'm gathering all theories about Satoshi Nakamoto
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on: February 24, 2014, 08:31:37 PM
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Hello guys,
I'm gathering a list of theories on who Satoshi Nakamoto really is. I intend to mix funny "theories" (or alleged theories) as well as more probable, serious ones.
[troll link deleted]
So far I only have one item in the list, please help me expand it!
Keyser Söze bitch.
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376
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Economy / Service Discussion / Re: Mt Gox moves from their month-to-month leased office to...
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on: February 24, 2014, 07:10:39 PM
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That said, I, Bruno Kucinskas, demand that Mark Karpeles be expelled from the The Bitcoin Foundation within the next 24 hours, for they (TBF), Bitcoin, and all those who have, and will continue to champion Bitcoin, are now becoming nothing but a punchline.
~Bruno Kucinskas
Damn. If I want anyone cowed into compliance, I'm calling you! http://online.wsj.com/news/articles/SB10001424052702303426304579401883794330454?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303426304579401883794330454.html
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377
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Economy / Service Discussion / Re: Here's my gox theory
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on: February 24, 2014, 07:07:48 PM
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The BCF does not appear to stand for peons like us, but instead, "great men" like Mark Karpeles.
I'm pleasantly surprised to be wrong about my cynical assumptions. My opinion is that this resignation was demanded and is basically a "quit or be fired" situation. So I retract this hostile comment.
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378
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Economy / Gambling / Re: SealsWithClubs.eu | Largest Bitcoin Poker Site | No Banking | Fast Cashouts
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on: February 24, 2014, 07:04:44 PM
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I have heard of people getting funds back when they have reported colluding and it could be proven.
There was a ring of pretty brazen PLO cheats at the 6 handed tables for a while, and they shut those guys down, seized their funds and refunded players. There are ways of colluding that are not so readily apparent, though. Just using collusive strategies in a few key hands can give a significant advantage without standing out like a sore thumb. If the cheats don't get greedy they can get away with it for a while. If they've already cashed out by the time they're caught, the site ends up holding the bag. Pretty sure Seals would make good on it, but there's no guarantee any particular cheat gets caught. Note: not at all unique to Seals. There was (and I assume is) plenty of suspicious activity even on a completely on the up and up cash site like Poker Stars, and they have a very active anti-cheating program. What's funny is a lot of the worst cheats who get caught are also terrible players who lose despite cheating. But a good player who cheats is pretty much unbeatable. Anyway, the action on Seals is no more shady than on any other poker site and better than some real money sites, especially if you remember the old Absolute/UltimateBet, which was shady as hell. Not just the notorious cases, but even at the lower levels where I played. They honestly couldn't give a shit if people were blatantly colluding.
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379
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Economy / Service Discussion / Re: Here's my gox theory
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on: February 24, 2014, 02:22:21 AM
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Karpeles is just a criminal hiding behind a screen, is there any way to remove him from the BTC Foundation?
One wonders if the purpose of the BCF is, in fact, simply to lend a group of self-interested bad actors a veneer of credibility. I will certainly start to think that if they don't get rid of someone who, whether or not he is an outright crook (there is not sufficient information to decide that), has acted absolutely imprudently and incompetently and caused incalculable harm to the Bitcoin community. The BCF does not appear to stand for peons like us, but instead, "great men" like Mark Karpeles.
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