Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Brushan]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an imcompetence. How many millions have been lost due to this guy inability to run this company.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money.

Why don't you open an exchange?

Let's see if you can do better.

To date, no one has done better.

Times have changed and it's clear things are getting to big for Mark. I don't understand how you can't see it? There are a lot of people who can do a better job. Now i'm not talking about teenagers running exchanges in their mum's basement but real professionals need to enter the Bitcoin world. The position that needs a professional the most right now is the CEO of MtGox. And it has been like that for some time now.

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[MickeyT2008]

It wouldn't surprise me if these ddos attacks were being set up by the US government or the banks, who are much the same thing anyway

Tin foil hat on standby....

[fitty]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an imcompetence. How many millions have been lost due to this guy inability to run this company.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money.

Why don't you open an exchange?

Let's see if you can do better.

To date, no one has done better.

Lots have done better.

That's like saying, go make your own Facebook. Well FB has 400 million members, even if your site is better that doesn't mean you'll overtake a monopoly. By most definitions MtGox did/does have a monopoly. When liquidity matters, it's hard to overcome that starting out.

Over time better exchanges will come, and MtGox will lose it's market share. It's an awful POS trade engine, limited features, poorly run, unreliable and insecure.

[TheKoziTwo]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an incompetence. How many millions have been lost due to this guy inability to run this company.

Your are free to start your own and better exchange.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Mark didn't start mt.gox, it was the previous owner whom this magic the gathering card plan originated from.

[telemaco]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an incompetence. How many millions have been lost due to this guy inability to run this company.

Your are free to start your own and better exchange.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Mark didn't start mt.gox, it was the previous owner whom this magic the gathering card plan originated from.

Again...


What argument is that? I am good at my own profession. I run and administer some services 24x7 and i have some Service level agreements to comply with. If i don't comply i have to pay absolutely severe fines. Why is MtGox going unharmed for all their incompetence?

If i go to ear a concert and nobody plays music i cannot complain?? If i go to a restaurant and instead of food i get chlodric acid i cannot complain? They get fined. MtGox goes unharmed always and i cannot even complain?

That reasoning you just posted (why don't you do it yourself) would end job specialization. If i am a dentist i can do well my job but i require a good service from some other ...


So let me see, should i also study law to be my own judge and study politics and be my own senator or if not i cannot complain ...? Don't understand your argument really

[hmmmstrange]

Not familiar with any laws (or how to read them lawyer speak) so might a dumb question...but does the USD being legal tender in the US mean that other currencies are illegal? Or the other currencies can still be be used but just not legally obliged to be accepted?

From my limited understanding as well (so nothing dumb about it, my friend) a business can not accept a foriegn currency.  It can only deal in US legal tender.  It's not illegal to possess them, but to spend them in the US, on US goods and services is a clear violation of US policy.

So by that thinking, and as one stated earlier, owning Bitcoins is not illegal.  Using them is or at least technically.

Every single gas station and grocery store in the USA along the Canadian border accept Canadian dollars.

[crumbcake]

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Please.  You're on *speculation forum*  bitching about an overseas currency exchange.  You are not a saver.  You're a speculator -- chin up, bud!  

[sukiho]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an imcompetence. How many millions have been lost due to this guy inability to run this company.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money.

Why don't you open an exchange?

Let's see if you can do better.

To date, no one has done better.

I would disagree with that, but it seems most people want to stay with mtgox, which is fine with me

[lytecoin]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an incompetence. How many millions have been lost due to this guy inability to run this company.

Your are free to start your own and better exchange.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Mark didn't start mt.gox, it was the previous owner whom this magic the gathering card plan originated from.

Again...


What argument is that? I am good at my own profession. I run and administer some services 24x7 and i have some Service level agreements to comply with. If i don't comply i have to pay absolutely severe fines. Why is MtGox going unharmed for all their incompetence?

If i go to ear a concert and nobody plays music i cannot complain?? If i go to a restaurant and instead of food i get chlodric acid i cannot complain? They get fined. MtGox goes unharmed always and i cannot even complain?

That reasoning you just posted (why don't you do it yourself) would end job specialization. If i am a dentist i can do well my job but i require a good service from some other ...


So let me see, should i also study law to be my own judge and study politics and be my own senator or if not i cannot complain ...? Don't understand your argument really

Any fool can criticize, condemn and complain - and most fools do.
- Benjamin Franklin

[TheKoziTwo]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an incompetence. How many millions have been lost due to this guy inability to run this company.

Your are free to start your own and better exchange.

He got the best Magic the Gathering cards, he just found one day that he was running a billion dollar company (or exchange to a billion dollar market). So instead of playing with mages and trolls cards he just started to play businessman being absolutely horrible at it and making thousands of savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Mark didn't start mt.gox, it was the previous owner whom this magic the gathering card plan originated from.

Again...


What argument is that? I am good at my own profession. I run and administer some services 24x7 and i have some Service level agreements to comply with. If i don't comply i have to pay absolutely severe fines. Why is MtGox going unharmed for all their incompetence?

If i go to ear a concert and nobody plays music i cannot complain?? If i go to a restaurant and instead of food i get chlodric acid i cannot complain? They get fined. MtGox goes unharmed always and i cannot even complain?

That reasoning you just posted (why don't you do it yourself) would end job specialization. If i am a dentist i can do well my job but i require a good service from some other ...


So let me see, should i also study law to be my own judge and study politics and be my own senator or if not i cannot complain ...? Don't understand your argument really

I think mt.gox has been doing a pretty decent job all things considered, it's very demanding to run an exchange.

To answer your example: If you're not happy with the restaurant you go to another one next time, you can complain all you want, but in the end if a lot of people keep going to that restaurant you detest so much perhaps it's not really the restaurant that is the problem but the lack of better alternatives? That leaves you only one option: create that better alternative.

It doesn't help to complain if there are no better alternatives. And if there are, well then it should be pretty simple right? People just start using those alternatives.

[crumbcake]

Not familiar with any laws (or how to read them lawyer speak) so might a dumb question...but does the USD being legal tender in the US mean that other currencies are illegal? Or the other currencies can still be be used but just not legally obliged to be accepted?

From my limited understanding as well (so nothing dumb about it, my friend) a business can not accept a foriegn currency.  It can only deal in US legal tender.  It's not illegal to possess them, but to spend them in the US, on US goods and services is a clear violation of US policy.

So by that thinking, and as one stated earlier, owning Bitcoins is not illegal.  Using them is or at least technically.

Every single gas station and grocery store in the USA along the Canadian border accept Canadian dollars.

What's your point?  US doesn't choose to enforce every law on the books, but start messing with its currency & ability to collect taxes?  Gah...

[TheKoziTwo]

Any fool can criticize, condemn and complain - and most fools do.
- Benjamin Franklin

+1

[telemaco]

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Please.  You're on *speculation forum*  bitching about an overseas currency exchange.  You are not a saver.  You're a speculator -- chin up, bud!  

I am not a saver, but i wouldn't say that there are not any saver around using mtgox and losing money with MtGox Lag or even at this very moment with their inhability to log into MtGox (or maybe yesterday night with ANOTHER outage).

There are some services that need 24x7 SLAs and have to run 99,99% of the time. Mt Gox service compared with another IT company online-rate would compare to a potato chips third league online webpage. They are playing with people's money and they should start to be 24x7. They are hurting all the Bitcoin economy.

And to those saying (why don't you do it youself?): If my son needs to go to the hospital and they cut off the other leg, i cannot complain because the doctor would say (hey!! why didn't you learn medicine?)

[Pale Phoenix]

What a piece of shit Mt Gox is. I really hope this guy goes to jail. In my life i have seen such an incompetence. How many millions have been lost due to this guy inability to run this company.

I get that you're ticked off, but no one, anywhere should lose their freedom because one of the thousands of government forms wasn't completed. That there are criminal penalties for this kind of thing at all is surely a sign of the apocalypse.

Civil fines, yes. Criminal penalties, GTFO.

As for Gox and their incompetence, let the market decide their fate.

[Piper67]

Not familiar with any laws (or how to read them lawyer speak) so might a dumb question...but does the USD being legal tender in the US mean that other currencies are illegal? Or the other currencies can still be be used but just not legally obliged to be accepted?

From my limited understanding as well (so nothing dumb about it, my friend) a business can not accept a foriegn currency.  It can only deal in US legal tender.  It's not illegal to possess them, but to spend them in the US, on US goods and services is a clear violation of US policy.

So by that thinking, and as one stated earlier, owning Bitcoins is not illegal.  Using them is or at least technically.

Every single gas station and grocery store in the USA along the Canadian border accept Canadian dollars.

Let's give strange the benefit of the doubt here. He acknowledges that his understanding is limited.

The concept at play is "legal tender". All that means is that if there is a debt to be settled within the jurisdiction of the US courts, the receiving party cannot refuse to have that debt settled in US dollars.

In other words, any two parties can agree on any kind of payment they so choose. But if one party says "I will pay you in US dollars" the other party can't refuse.

[Pale Phoenix]

Let's give strange the benefit of the doubt here. He acknowledges that his understanding is limited.

I believe it's actually Coinseeker who acknowledged that. :-)

[telemaco]

Any fool can criticize, condemn and complain - and most fools do.
- Benjamin Franklin

+1

wow those are beautiful words, you even have a picture ...

so customers cannot complain? I used to be system administrator for a very important telecom company and took care of many systems running critical services and when there were outages (there are always unexpected problems of course) everyone and his mother would do everything in heaven and hell to make sure that the same problem would not happen again.

I see outages here everywhere ... Some companies give a discount when there are outages, some others publish some kind words. Seriously i am really patient, and really understand many problems that might arise with administration but lately things are getting slightly out of control ...

[Pale Phoenix]

I should probably post this in the tech/dev section, but since MtGox is down, here's my proposal for a true P2P Bitcoin network independent of DARPA-tainted interwebz:

Where's the sauna vault?  

[crumbcake]

...I really hope this guy goes to jail. In my life i have seen such an incompetence....
savers lose their hard earned money. Just one catastrophic failure after the other and never learn.

Please.  You're on *speculation forum*  bitching about an overseas currency exchange.  You are not a saver.  You're a speculator -- chin up, bud!  

I am not a saver, but i wouldn't say that there are not any saver around using mtgox and losing money with MtGox Lag or even at this very moment with their inhability to log into MtGox (or maybe yesterday night with ANOTHER outage).

Whoah. Savers are unaffected by lag -- only traders can get hurt.  The money changers.  Savers are fine (stupid to use Mt.Gox as a bank, but fine otherwise).

There are some services that need 24x7 SLAs and have to run 99,99% of the time. Mt Gox service compared with another IT company online-rate would compare to a potato chips third league online webpage. They are playing with people's money and they should start to be 24x7. They are hurting all the Bitcoin economy.

The only money Mt.Gox is playing with is that of ultra-high risk traders, who are willing to use Gox's services knowing full well how bad they are.  Part of the game.

And to those saying (why don't you do it youself?): If my son needs to go to the hospital and they cut off the other leg, i cannot complain because the doctor would say (hey!! why didn't you learn medicine?)

If you took your son to a totally unregulated hospital, and your friends, family & everyone with nothing better to do told you how awful the hospital is, and that wrong legs of children are cut off dayly...  What was the question again?

[Pale Phoenix]

so customers cannot complain?

I can't imagine anyone would say that or even imply it. Complaining is what you should do, but when you start advocating for someone to be locked up, the rest of your arguments get tainted by the crazy.