Tomatocage (OP)
Legendary
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Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
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February 14, 2013, 05:18:19 PM |
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Isn't it about time we hear news about a major hack/disaster that will smack the exchange rate back? I mean we wouldn't want to break tradition, would we?  |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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yogi
Legendary
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Activity: 947
Merit: 1042
Hamster ate my bitcoin
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February 14, 2013, 05:21:04 PM |
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Yes, ASIC's were supposed to be a scam and crash the market, but it looks like no one informed the developers.
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Sukrim
Legendary
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Activity: 2618
Merit: 1006
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February 14, 2013, 05:24:35 PM |
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MtGox hack number 3 (or 4? 5? I lost count...) imminent!  Well, or the operator of Silk Road gets caught or something, other than these 2, there are no real huge BTC hoarding entities left. Merchant service providers like BitPay probably rather keep money flowing and store only little. Alternative: An early adopter with a 5-6 digit amount claims he wrote a magic software to crack private keys and as "proof" transfers huge amounts of (his!) coins to another address. This might cause a slight panic at least. |
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BCB
CTG
VIP
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Activity: 1078
Merit: 1002
BCJ
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February 14, 2013, 05:29:52 PM |
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I don't agree.
Gox is (HOPEFULLY) locked down like fort knox now.
The only thing that will stop this forward motion will be SERIOUS US govn't regulation or some time of police (bankster) state crackdown on exchanges an/or bitcoin businesses. Fortunately the amount of time it take to get anything done in the US congress, any regulation will be years in coming.
He're looking at 50 (an beyond!).
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Mike Hearn
Legendary
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Activity: 1526
Merit: 1129
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February 14, 2013, 05:32:23 PM |
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Congress doesn't write financial regulations in the USA, the regulators themselves do.
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n8rwJeTt8TrrLKPa55eU
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February 14, 2013, 06:30:28 PM
Last edit: February 14, 2013, 06:42:32 PM by n8rwJeTt8TrrLKPa55eU |
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Congress doesn't write financial regulations in the USA, the regulators special interests and cronies themselves do.
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yogi
Legendary
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Activity: 947
Merit: 1042
Hamster ate my bitcoin
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February 14, 2013, 06:52:42 PM |
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The only thing that will stop this forward motion will be SERIOUS US govn't regulation or some time of police (bankster) state crackdown on exchanges an/or bitcoin businesses. Fortunately the amount of time it take to get anything done in the US congress, any regulation will be years in coming.
The US accounts for only a small percent of bitcoins economy. The attention garnered from a US crack down could cause the price to increase. |
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eleuthria
Legendary
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Activity: 1750
Merit: 1007
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February 14, 2013, 06:53:40 PM
Last edit: February 14, 2013, 07:08:01 PM by eleuthria |
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Isn't it about time we hear news about a major hack/disaster that will smack the exchange rate back? I mean we wouldn't want to break tradition, would we? *runs off with a cold wallet file and blames it on someone named Sir Thomas Erick Trendon the Third* |
RIP BTC Guild, April 2011 - June 2015
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Monster Tent
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February 14, 2013, 10:45:15 PM |
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I don't agree.
Gox is (HOPEFULLY) locked down like fort knox now.
The only thing that will stop this forward motion will be SERIOUS US govn't regulation or some time of police (bankster) state crackdown on exchanges an/or bitcoin businesses. Fortunately the amount of time it take to get anything done in the US congress, any regulation will be years in coming.
He're looking at 50 (an beyond!).
Heres a hypothetical. When will the first president or senator get voted into power because bitcoin early adopters have enough free coin to buy an election ? |
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Raize
Donator
Legendary
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Activity: 1419
Merit: 1015
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February 14, 2013, 10:50:09 PM |
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Heres a hypothetical. When will the first president or senator get voted into power because bitcoin early adopters have enough free coin to buy an election ?
Yeah. It's gonna happen in 2016 if I have anything to do with it. And given how involved I was this last time around, it's gonna happen again. Though legally I suppose I'll have to use a PAC. |
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MrCrabs
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February 14, 2013, 11:11:52 PM |
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I'd Accept a bit of a news worthy hack now. So as to drop the price of BTC. So that I can go and buy them a little cheaper.  |
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Gestas
Newbie
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Activity: 54
Merit: 0
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February 14, 2013, 11:31:48 PM |
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I don't agree.
Gox is (HOPEFULLY) locked down like fort knox now.
The only thing that will stop this forward motion will be SERIOUS US govn't regulation or some time of police (bankster) state crackdown on exchanges an/or bitcoin businesses. Fortunately the amount of time it take to get anything done in the US congress, any regulation will be years in coming.
He're looking at 50 (an beyond!).
Heres a hypothetical. When will the first president or senator get voted into power because bitcoin early adopters have enough free coin to buy an election ? Never, bitcoins worth are tied to drugs and the USD and the exchanges arent capable of moving a serious amount of bitcoins without the price crashing tremendously. |
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grue
Legendary
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Activity: 2058
Merit: 1431
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February 14, 2013, 11:55:40 PM |
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I'd Accept a bit of a news worthy hack now. So as to drop the price of BTC. So that I can go and buy them a little cheaper. you monster! i want my coins to be worth $90 |
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Monster Tent
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February 15, 2013, 12:54:16 AM |
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coinbase or bitpay getting pwned would cause some serious image problems that would set it back a little bit as far as marketing goes.
I dont think it would cause a serious crash though unless something happens to the protocol itself.
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MrCrabs
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February 15, 2013, 01:25:57 AM |
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I'd Accept a bit of a news worthy hack now. So as to drop the price of BTC. So that I can go and buy them a little cheaper. you monster! i want my coins to be worth $90 I don't doubt for a second that they will go up to $90 and beyond. |
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MrCrabs
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February 15, 2013, 01:33:08 AM |
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My big concern is that Mt.Gox (i have coins there) seems to have the majority of the trading market. I would love to see more competition.  |
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paulie_w
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February 15, 2013, 02:09:40 AM |
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i was waiting for someone to say this  |
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Driice
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February 15, 2013, 02:51:07 AM |
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My big concern is that Mt.Gox (i have coins there) seems to have the majority of the trading market. I would love to see more competition. Sell on a smaller exchange. You can probably get a better price anyway |
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grue
Legendary
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Activity: 2058
Merit: 1431
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February 15, 2013, 03:25:31 AM |
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My big concern is that Mt.Gox (i have coins there) seems to have the majority of the trading market. I would love to see more competition. Sell on a smaller exchange. You can probably get a better price anyway the spread will be bigger, which means you will get a worse price, unless there was a large surge/crash and no one has caught on yet. |
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iCEBREAKER
Legendary
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Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
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February 15, 2013, 03:33:38 AM |
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Hmm, what fresh drama will the mid-season of All My Bitcoins deliver?
Here are some possibilities.
Prisoner Z - Satoshi is being held incommunicado in an Israeli prison. To save Sprinkles, his beloved Corgi, he's forced to activate Bitcoin's auto-destruct code.
SuperNovaCoin - Vlad Putin makes RuCoin the official currency of Russia. KGB intercepts all Avalon shipments, mines under the Kremlin.
Game of Pwns - BitcoinTalk troll wars escalate into ruthless blood feuds. Assassination markets overtake Silk Road, new users are scared of being mistaken for scammers and killed.
JPMorgue - MtGox is purchased by a certain TBTF Wall St firm with shady ties to the Federal Reserve. BTC prices are suppressed by massive uncovered short positions. Rallies are stymied by rapid margin hikes.
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Monero
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| "The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." David Chaum 1996
"Fungibility provides privacy as a side effect." Adam Back 2014
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