Odalv (OP)
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Activity: 1414
Merit: 1000
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February 27, 2013, 03:13:38 PM |
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Walter Rothbard
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February 27, 2013, 03:38:18 PM |
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That sounds like great news.
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mccorvic
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February 27, 2013, 03:43:16 PM |
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That sounds like great news.
That's because it is great news! If anything, it'll hopefully be one less barrier of entry for people to buy bitcoins. Now, to save everyone some time, I present with you Desperate Bear Logic: This will cause the markets to crash for some raisin. Because more demand = lower prices, right? |
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adamstgBit
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Activity: 1904
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Trusted Bitcoiner
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February 27, 2013, 03:55:30 PM |
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lolz at this "news"
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mccorvic
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February 27, 2013, 04:04:13 PM |
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lolz at this "news"
Oh, dang. This must be the new bear tactic. "Uh oh, we can't call lower prices any more! Just try to blow off everything as unimportant! That'll do the trick!" |
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adamstgBit
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February 27, 2013, 04:08:51 PM |
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lolz at this "news"
Oh, dang. This must be the new bear tactic. "Uh oh, we can't call lower prices any more! Just try to blow off everything as unimportant! That'll do the trick!"  |
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TraderTimm
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February 27, 2013, 04:32:50 PM |
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Yes, lets move all the payment processing to the USA - and especially to the nearly-broke state of California. I'm really surprised and not really pleased about this. Have they considered the legal implications if legislators decided to come for a piece of the action? Or to disrupt their operations?
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
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fortitudinem multis - catenum regit omnia
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mccorvic
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February 27, 2013, 04:39:43 PM |
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Yes, lets move all the payment processing to the USA - and especially to the nearly-broke state of California. I'm really surprised and not really pleased about this. Have they considered the legal implications if legislators decided to come for a piece of the action? Or to disrupt their operations?
If anyone has a good answer as to why the positives outweigh the negatives, I'm all ears.
Positives: Lower bar of entry for new people to acquire bitcoin, thus increasing it's acceptance and useability. Cons: Uh, if it gets closed there are plenty of other exchanges and bitcoin is still bitcoin. This is obvious unless you're one of those people that say bitcoin itself was hacked in 2011. |
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Panoramix
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Activity: 27
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February 27, 2013, 04:50:49 PM |
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I just wonder what's in it for MtGox?
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cypherdoc
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February 27, 2013, 04:53:41 PM |
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 Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related  ). she can put those paddles on me any day. oh wait, i'm not a bear. |
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creativex
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February 27, 2013, 05:00:09 PM |
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Give them a little time to concoct another plausible improbability. +1 to Loaded I guess (if at all related ). she can put those paddles on me any day. oh wait, i'm not a bear. ...also if your heart is beating at the time it wouldn't be beating afterward. lolz at this "news" Can you elaborate? |
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bitcoinBull
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rippleFanatic
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February 27, 2013, 05:03:34 PM |
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I just wonder what's in it for MtGox?
Money first of all, coinLab is paying them for this. Also less risk/responsibility for mtgox, since coinLab will be managing the USD funds. An official partnership also enhances the professionalism of MtGox. The best part is even as this further cements their role as the biggest exchange, it does so in a way which distributes the risk. I'm not so worried now about a possible problem or crisis at mtgox, because even if the exchange goes down, my funds should be safe with coinLab. |
College of Bucking Bulls Knowledge
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adamstgBit
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February 27, 2013, 05:18:58 PM |
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lolz at this "news" Can you elaborate? this isn't news, this is rumor... |
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bitcoinBull
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rippleFanatic
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February 27, 2013, 05:31:35 PM |
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lolz at this "news" Can you elaborate? this isn't news, this is rumor... I see what you mean. No official report from mtGox, nothing on the coinLab website (and I wouldn't particularly trust my funds with a mining pool service). When I first read it, I kept thinking coinBase instead, since they are already known to store coins offline in a bank vault, and they already have a ton of US customers.  |
College of Bucking Bulls Knowledge
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kakobrekla
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February 27, 2013, 05:31:48 PM |
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Jay Walker, a forex prop trader, said he’d jump to any forex broker deal that would allow him to do currency pair trades and get paid out in bitcoins. Right, but a simple google query is over his head? |
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Nemesis
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February 27, 2013, 06:14:13 PM |
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I just wonder what's in it for MtGox?
Money first of all, coinLab is paying them for this. Also less risk/responsibility for mtgox, since coinLab will be managing the USD funds. An official partnership also enhances the professionalism of MtGox. The best part is even as this further cements their role as the biggest exchange, it does so in a way which distributes the risk. I'm not so worried now about a possible problem or crisis at mtgox, because even if the exchange goes down, my funds should be safe with coinLab. So Coinlab will just assume every USD funds acct are from US/Canada? Thats stupid. They must have known many ppl oversea also use USD funds. |
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labestiol
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February 27, 2013, 06:57:21 PM |
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Interesting piece of news, and I'm eager to get more info from both parties.
One could say it's the beginning of the end for bitcoin, with US being able to control the biggest part of the biggest exchange. Same thing for the part about the Loyds and forex brokers, could also be a way to open bitcoin to all sort of manipulation.
Don't get me wrong, I'm just playing devils advocate here. I'm uber excited about this news, I think what we saw in the last month is just the beginning.
I'm crazy impatient to see what is going to happen...
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1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
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adamstgBit
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February 27, 2013, 07:41:32 PM |
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lolz at this "news" Can you elaborate? this isn't news, this is rumor... I see what you mean. No official report from mtGox, nothing on the coinLab website (and I wouldn't particularly trust my funds with a mining pool service). When I first read it, I kept thinking coinBase instead, since they are already known to store coins offline in a bank vault, and they already have a ton of US customers. right, one thing is for sure, people are thinking about these things and want to see bitcoin as a regulated commodity. and a large part of this community disagrees with this philosophy. ( it sometimes feels like 'they' are trying to do this to push adoption... its no longer about making sound money, its about making money period. ) so I think a hard-fork or something similar is coming, and it will have very little to do with block size limit. |
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mccorvic
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February 27, 2013, 08:10:11 PM |
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one thing is for sure, people are thinking about these things and want to see bitcoin as a regulated commodity. and a large part of this community disagrees with this philosophy. ( it sometimes feels like 'they' are trying to do this to push adoption... its no longer about making sound money, its about making money period. ) so I think a hard-fork or something similar is coming, and it will have very little to do with block size limit.
Sigh. Oh no, people are using bitcoins in was they want and not they way I want to whaaaaaaaaaaa whaaaaa. You know what would happen if a fork occurred and whatever the forkees had becomes at all successful? The same damn thing. And you know damn well that you can try to regulate a bitcoin site, but you can't regulate bitcoin. Adam, your posts have gone from amusingly inaccurate to flat-out loony bin FUD spreading. |
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