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ShroomsKit
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February 17, 2014, 03:30:29 PM |
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Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why. Just enjoy the spooky ride  )) There is technical analysis creating bitcoin forecasts that work well How many millions are you worth? |
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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fonzie
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February 17, 2014, 03:31:43 PM |
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If they should enable withdrawls by thursday; MtGox might be back to it´s +10% premium so that users might be tempted to stay at Gox,
only that price on Gox will stay @ around 350$ and Stamp might be around 315$.
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JorgeStolfi
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February 17, 2014, 03:33:24 PM |
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because the issue is not how long it takes, but time and human effort involved
It was claimed that they need to limit the amount of BTC withdrawals because their coins are in "cold storage" and their hot wallet is small. But even if their "cold storage" is a laptop hidden in the catacombs of Paris, they should be able to get it in a couple of days, move it to a closer (but still safe) location, and then keep transferring enough coins to the hot wallet, every day, to execute all the withdrawal requests on the queue. What is the risk of that? |
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Walsoraj
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February 17, 2014, 03:45:40 PM |
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because the issue is not how long it takes, but time and human effort involved
It was claimed that they need to limit the amount of BTC withdrawals because their coins are in "cold storage" and their hot wallet is small. But even if their "cold storage" is a laptop hidden in the catacombs of Paris, they should be able to get it in a couple of days, move it to a closer (but still safe) location, and then keep transferring enough coins to the hot wallet, every day, to execute all the withdrawal requests on the queue. What is the risk of that? From the statement: At the beginning we will do so at a moderated pace and with new daily/
monthly limits in place to prevent any problems with the new system and to take
into account current market conditions.
In other words, they will adjust limits on the fly to prevent a bank run. We will see huge buys, then read hundreds of posts here and on reddit about unreasonable withdrawal limits. The price will crash again. Then Gox ups the limits. Massive market buys. Gox lowers the limits. More complaints. Rinse and repeat until Gox is dead. |
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pickaname
Newbie
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Activity: 25
Merit: 0
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February 17, 2014, 03:53:30 PM |
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The bull whale has returned. Houbi refusing to let gox dump now, just keeps buying more every time gox dumps.
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delphic
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February 17, 2014, 04:04:08 PM |
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A so-called 'bank run' should not be a problem on MtGox in principle, as they do not operate a fractional reserve system.
I say 'should not be'......
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ShroomsKit_Disgrace
Legendary
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Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
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February 17, 2014, 04:09:27 PM |
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A so-called 'bank run' should not be a problem on MtGox in principle, as they do not operate a fractional reserve system.
I say 'should not be'......
According to my "insider" sources, they have operated the most flagrant fractional reserve system of modern history. |
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Ivanhoe
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February 17, 2014, 04:12:23 PM |
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Huobi taking the lead again, Bitstamp following, Mtgox dead.
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CryptStorm
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February 17, 2014, 04:22:06 PM |
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Yeah, I loved this one-- came across the Flipboard feed (which I also heartily recommend). Cheers |
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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February 17, 2014, 04:34:49 PM |
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Let's make it clear - nobody has no bloody idea where the heck it is heading right now, lol
Nothing that special , most of the times we are clueless about where the hell bitcoin is heading and why. Just enjoy the spooky ride )) There is technical analysis creating bitcoin forecasts that work well How many millions are you worth? Wouldn't it make more sense to ask "how did your investment perform compared to buy & hold", to assess how well TA works in this market? |
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RooKIED
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February 17, 2014, 04:35:40 PM |
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Arcas
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February 17, 2014, 04:38:51 PM |
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Possible, but I doubt it. The shutdown had nothing to do with lack of funds, it was due to a cyber attack on a bug. |
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fonzie
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February 17, 2014, 04:42:39 PM |
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The big BTC crash of 2014 might come earlier than expected.  |
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niothor
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February 17, 2014, 04:42:58 PM |
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Possible, but I doubt it. The shutdown had nothing to do with lack of funds, it was due to a cyber attack on a bug. Check the 1 comment on the article. Well , you don't have to read the comment , just the username =))))))) |
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fonzie
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February 17, 2014, 04:44:21 PM |
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Possible, but I doubt it. The shutdown had nothing to do with lack of funds, it was due to a cyber attack on a bug. Check the 1 comment on the article. Well , you don't have to read the comment , just the username =))))))) just a copycat |
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dreamspark
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February 17, 2014, 04:45:55 PM |
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Possible, but I doubt it. The shutdown had nothing to do with lack of funds, it was due to a cyber attack on a bug. A cyber attack on a bug ? So how come the other exchanges are open and have dealt with the well known issue. More like they cant just open up withdrawals because they are insolvent, this is mirrored by the restricted withdrawals they are proposing when they do open. I experienced the poker problems that he is reffering to and trust me the way mtgox is communicating is exaclty how these companies were communicating back in 2011. They havent even said when they are opening withdrawals (if at all) they have just said update on thursday... |
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ChrisML
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February 17, 2014, 04:53:48 PM |
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Fucking hilarious article.
I laughed at it all the way through the end.
I bet the autor got fucked up the ass pretty good by some bad trades he made in the early days.
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Arcas
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February 17, 2014, 04:55:56 PM |
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I'm more inclined to believe that MtGox isn't purposefully being criminal, it's just that they are criminally incompetent.
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theonewhowaskazu
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February 17, 2014, 04:57:24 PM |
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A so-called 'bank run' should not be a problem on MtGox in principle, as they do not operate a fractional reserve system.
I say 'should not be'......
According to my "insider" sources, they have operated the most flagrant fractional reserve system of modern history. I don't doubt it, but... (1) What exactly are your sources (2) what were they doing with the excess liquidity not held in reserve? |
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Poll
