http://www.theatlantic.com/technology/archive/2014/03/why-bitcoin-can-no-longer-work-as-a-virtual-currency-in-1-paragraph/359648/The price at which a particular Bitcoin was acquired (and this is traceable) determines the capital gains on that particular Bitcoin when spent. If I spend Bitcoin A, which I bought at $10, but is now worth $400, I’ve got a very different tax treatment than if I spend Bitcoin B, which I bought at $390. […] This means Bitcoins are not fungible, and that makes it unworkable as a currency. LOL. How stupid is the author if he doesn't see the benefit of having PROFIT from bitcoin bought at $390 no matter of taxes  Isn't it obvious that using bitcoins that doubled in price and pay capital gain taxes is anyway better than holding wealth in static dollar bills. That was just example - it would be the same if you bouth BTC at $390 and then bought coffee with it when it was at $10. And it is also about very small differences - it is a red tape hell. |
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So we are approching the triangle/flag end, is this the up breakout ? *Open eyes* Here is an Chart I did 2 days ago with updated candles :  (check original here : https://www.tradingview.com/v/LWuJblFx/) I'm wondering if the ask wall @600 on Stamp are real or not. I am watching the same line here. I think the walls are real and still they will be eaten. There is another long trend line around 610 - but if 600 goes then it will go past that other one too I think. |
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Isn't the withdrawal 'In process' now? When it is 'In process' - then you cannot use the funds even though they do show up in the account.
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Is it being DDOSed - or just too many customers?
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What happened? The bitstamp order book looks like shit now. It's been halved since when it was trading in 500s. That's not normal for a true reversal. The bid depth should be continuing to increase every step of the way, not decrease!
The money was spent on panic buys up to 710. |
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Chart is developing in such a manner that might suggest me being shaken out of my short position
....But looking at the huge crash, followed by the rapid 85% retracement, it would be highly unorthodox for Bitcoin to push on and breach the 610 top from here. TA 101 would suggest that Bitcoin needs to succesfully test its low before confirming trend reversal.
am tempted to call the market movements out as a bull trap, but will have my finger on the trigger incase I am proved wrong.
It looks like it should bounce hard - but the MtGox news are not over yet. |
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"The cold storage has been wiped out due to a leak in the hot wallet."
BULLSHIT ALERT
Yeah, Wow, Nothing related to the "hot wallet" could have caused a "cold storage" wallet to malfunction in any way shape or form He's running with the "cold storage" money can some senior/ advanced member try to explain that? i do not get how the cold wallet can be affected? Thats easy: Suppose they have - automated withdrawals from cold wallet to hot wallet in case hot has less than X BTC
- automated deposits to cold wallet from hot wallet in case hot has more than X BTC
- due to the malleability problem hot wallet constantly shrinks
- they only check the BTC transactions in their database, and do not double check whether the real BTC holdings are equivalent
Done. With a system like this money from the cold wallet could automatically trickly down into the hot wallet, and nobody noticed anything until it was too late. That would not be a cold wallet - but with MtGox anything goes. |
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I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie
Being the first place people hear the news. That's a big deal for media outfits. (but Pravda never had to worry about that…) That would explain not checking the facts - but not a lie. Anyway it seems that the story is confirmed now and the question that remains is how on Earth for two years MtGox did not check how many bitcoins they have? |
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Do you believe everything you read in the press?
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie and they can lose much. I have been on the internet for some time - I know that people don't check the facts - but I still trust wired fact checking more than T.Stuart from bitcointalk And by they way: https://news.ycombinator.com/item?id=7294762 - not much - but it gets a bit more credible for me now. |
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For 2 years they have never checked their bitcoin assets???!!!
Can we ask other exchanges to do audits?
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Gox realized they have been fleeced after two years - are you guys sure that other exchanges are safe?
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Capitulation will be when there is no bad news and it still is dropping down.
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Isn't it ironic when they write about credibility and use 'insolvency' in the title and later remove it?
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Do głosowania nie jest potrzebny fejs - wystarczy konto email.
I dzięki za wsparcie!
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And it announces downtime on Saturday - totally Gox style! |
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If you call it The Great Bitcoin Crash of 2014 - than it should at least be in the same league as The Great Bitcoin Crash of 2011 - when it crashed 95%. That would be around $60.
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All of that confirms that we'll have a bull trap. |
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