rness024 (OP)
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April 11, 2013, 03:41:35 PM |
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The idea of peer to peer transactions and no centralized governing body are what makes bitcoin awesome.
unfortunately the exchanges are killing us. MTGOX should be sued. who's to say they didn't buy a whole shit ton of BTC on the run up to $250+/btc, and then dump them and claim website traffic and hacker attacks are to blame??
something needs to be done about this, since (for now anyway) the exchanges are such a crucial part of bitcoin.... we need satoshi nakamoto jr to come along and make the exchanges peer to peer or something...
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felente
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April 11, 2013, 04:21:07 PM |
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my points same concerning exchange centralization. the problem is that too many people are too greedy, many are interested only for money loundering or illegal purchases... only relatively small part of btc-community is really interested for bitcoin itself and it's exceptional nature... there are only one way to see what happens: waiting. or go crazy, fight each and every second, and then... wait to see what happens  ok, there is other way too - help bitcoin network to grow up to complete independence from other currencies, because now we have only p2p-currency, and should have "Independent p2p currency" at some point. for that bitcoin needs again more time > popularity > maturity. |
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mobile4ever
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April 11, 2013, 04:24:08 PM |
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The idea of peer to peer transactions and no centralized governing body are what makes bitcoin awesome.
unfortunately the exchanges are killing us. MTGOX should be sued. who's to say they didn't buy a whole shit ton of BTC on the run up to $250+/btc, and then dump them and claim website traffic and hacker attacks are to blame??
something needs to be done about this, since (for now anyway) the exchanges are such a crucial part of bitcoin....
Something was done. All it takes is a PHP plugin and a programmer to make it. Its here: https://bitcointalk.org/index.php?topic=145389.0 |
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PachucoBro
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April 11, 2013, 04:33:09 PM |
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I agree with OP.... Currently MtGOX is closed and the reason stated at the top of my HOME page is, "...to allow the market to cool down following the drop in price." Freaking serious? So they close down all trading after the huge drop so we can all cool down and not convert to USD and withdraw our money. They screwed up bad with their stupid congratulatory press release. The failure of their systems to prevent LAG has created customers ill feelings of liquidity due to trading systems, not market sentiment. They shot themselves in their own foot. I also noticed they aren't going to be charging any fees for a short time after starting the exchange up again... yeah thanks. Maybe that will make up for when I always see my trades where the 0.55% FEE is based on say $150.00 per BTC, but my BTCs got sold or bought the very same second (timestamp) at $0.50 to $1.00 the wrong direction for me. Nice... always charge the customer the higher/better price for your fee then liquidate their BTCs at a lower or worse price.  |
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Bit.Trip
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April 11, 2013, 04:36:50 PM |
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It's obvious at this point that all of this goes squarely against what Satoshi originally intended with a "decentralized" currency.  One company should not control everything (especially the value of a Bitcoin). |
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PeregrineT
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April 11, 2013, 04:38:25 PM |
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This is no different than the stock market and other major markets. Create a system, be big enough to rule it and have power, and let people think they are being done a service. Banks manipulate the market all the time, and frankly, its peoples own fault for being stupid enough to think otherwise.
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mobile4ever
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April 11, 2013, 04:42:03 PM
Last edit: April 11, 2013, 04:52:23 PM by mobile4ever |
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I agree with OP.... Currently MtGOX is closed and the reason stated at the top of my HOME page is, "...to allow the market to cool down following the drop in price." Freaking serious?
This is what can happen when a few make decisions for the many. Its probably in their terms of service somewhere that they can do this. Users probably agreed to it. Just sayin... Plus, dollar exchanges never have this problem. Bitcoin has this problem because it is still new. All this stuff that happened, with the pirateat40 guy and Mt. Gox, will go to prove how strong bitcoin really is. https://i.imgur.com/vCkuFAY.jpeg |
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PeregrineT
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April 11, 2013, 04:43:56 PM |
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It's obvious at this point that all of this goes squarely against what Satoshi originally intended with a "decentralized" currency. One company should not control everything (especially the value of a Bitcoin). The problem is a currency being decentralized is a bit of a pipe dream. Every currency that has existed to this point has had a central government behind it. The reason being it must have authoritative backing, and it must have something to prop it up. An inherrant issue with bitcoins is the potential for scams for people that dont understand better, in what seems to be shady transactions. The effort required to understand it is higher, and so they go to someone with the backing, a large centralized institution, they believe they can trust. |
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mobile4ever
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April 11, 2013, 04:55:59 PM |
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An inherrant issue with bitcoins is the potential for scams for people that dont understand better, in what seems to be shady transactions. The effort required to understand it is higher, and so they go to someone with the backing, a large centralized institution, they believe they can trust.
Bitcoin requires a shift in thinking on money. Those who can accept a challenge to their thinking, at this point in time, are the new financial elite, thanks to this decentralized nature: Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. https://en.bitcoin.it/wiki/Main_Page |
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Xenotron
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April 11, 2013, 05:02:55 PM |
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MtGox is not the only one exchange in the world. Yes, it's the biggest one but you can still sell/buy BTC if you need this.
The problem is that there are still many BTC which were generated in previous years when they cost just a few bucks. So, I'll feel comfortable if sell them for 100 USD. Of course, 200 or 300 USD per BTC would be much better, but 100 is OK as well.
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Gabi
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If you want to walk on water, get out of the boat
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April 11, 2013, 05:05:35 PM |
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Then make a new and better exchange
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Moxiebot
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April 11, 2013, 05:06:28 PM |
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I just don't get this... shutting down when the price drops. I've only been dabbling in this, but let the market drop.. I mean, it's a market, right! They won't let it drop below $100! Come on. I imagine if they just let it go, then it will drop who-knows-how-low... and everyone with a weak constitution will get out of the market, and then it will be allowed to grow again at a reasonable pace.
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