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Frozenlock
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June 25, 2013, 06:26:28 AM |
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Anyway... the guy telling the story checks out pretty good imho....
Uh no... 1 link karma 18 comment karma |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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420
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June 25, 2013, 06:33:52 AM |
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Voodah
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June 25, 2013, 06:35:20 AM |
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Anyway... the guy telling the story checks out pretty good imho....
Uh no... 1 link karma 18 comment karma Ok. Just good. But hey, he's not so active. It's not a crime. His account is 3 months old, he's posted all along those 3 months on unrelated stuff, on NZ stuff and also some pro btc related stuff and even some pro mtgox stuff... Unless he's on a very elaborate 3-month play where he built a persona waiting for this exact gox 2 week crisis to further defame them... he checks out for me. |
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gizmoh
Legendary
 Offline
Activity: 1428
Merit: 1000
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June 25, 2013, 06:40:00 AM |
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Clamps are indeed closing on GOX. Citibank is not dealing with any Gox transfers. I quote this guy from this discussion: https://bitcointalk.org/index.php?topic=231960.msg2540042#msg2540042Some information to bring more light in the dark: During the last month I made 4 withdrawals (wire) to my account (Switzerland). Also done before without issues. All 4 amounts went through and were credited on my account as usual, about two weeks ago. Therefore I was appreciating the service provided by Mt. Gox. Yesterday I got a phone call from my local bank, stating that they didn`t get the clearance from the correspondent banks reagarding the $$ transfer. The money went back to Mt. Gox. So these amounts could not be credited any longer and got cancelled. It seems to be an issue of the international banks involved, below the original text from my bank, saying that the 4 amounts are returned from Citibank to JP Morgan Chase (Mt. Gox) due to internal guidelines. They are waiting for my instructions in which way Mt. Gox will send the money again. Das von der Mt Gox Co. Ltd. Überwiesene Geld (4 Beträge USD) wurde von der Depotbank Citibank auf Grund interner Richtlinien an die JP Morgan Chase und somit an Mt Gox Co. Ltd retourniert. Bitte kontaktieren Sie die Firma ob das Geld erneut überwiesen wird.... The infos I got from Gox support: Hello, We apologize for the inconvenience caused. Our bank is facing few issues sending the transactions to the Citibank accounts. Our bank is trying to resolve this issue and we are also working on few alternatives. The funds once cancelled will be sent back to the MT Gox account and I will keep you updated on this. The same day, some hours later, Gox "Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals" followed. Consistent as far as only $$ transfers are affected. Looking like big US players are blocking $$ transfer. We are not really surprised, aren`t we ? Hope Mt. Gox will find solutions to circumvent the hiatus. It would be interesting what Citibanks "internal guidelines" are stating. |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1759
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 25, 2013, 07:00:25 AM |
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Frozenlock
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June 25, 2013, 07:01:33 AM |
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Could that be the trigger for another high spread between MtGox and the other exchanges?  |
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joesmoe2012
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June 25, 2013, 07:05:56 AM |
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Could that be the trigger for another high spread between MtGox and the other exchanges? Yup, but how to withdraw... Not to mention getting a new bank won't be quick. |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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June 25, 2013, 07:07:33 AM |
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This is one heavy piece of information. holy crap indeed. It smells funny though because they were even willing to give a reason... who would've thought that? This Citibank plutocrats are defending their business, they are starting to be afraid of Bitcoin. Cool. The ones thinking that the bankers would let Bitcoin alone are foolish. Bitcoin is a natural born enemy of the traditional financial system. In the long run, only one can survive. Let the games begin. |
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barbs
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June 25, 2013, 07:15:30 AM |
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omg i wake up to this??? i missed a 109 sale at 5:30 am after buying back in at 100.98 just hours prior
QQ
Q...Q
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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June 25, 2013, 07:17:58 AM |
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Let the games begin.
Let the Great Dollar Extraction begin.  |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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June 25, 2013, 07:55:02 AM |
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Let the games begin.
Let the Great Dollar Extraction begin. Shall we have a little panic buying first? Cool to see how the fools who wish to be "legit" and "regulated" see that despite being law abiding citizens their funds are taken hostage, and the only way to move them freely is by converting them to Bitcoins. Interesting times ahead. Gox losing its dominant position, huge opportunity for alternative exchanges, people realizing that a battle is approaching and that the traditional financial system won't hand over its power without a good fight. Going to buy popcorn, brb |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1759
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 25, 2013, 08:00:36 AM |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1759
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 25, 2013, 09:00:05 AM |
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ShroomsKit
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June 25, 2013, 09:49:16 AM |
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This is one heavy piece of information. holy crap indeed. It smells funny though because they were even willing to give a reason... who would've thought that? This Citibank plutocrats are defending their business, they are starting to be afraid of Bitcoin. Cool. The ones thinking that the bankers would let Bitcoin alone are foolish. Bitcoin is a natural born enemy of the traditional financial system. In the long run, only one can survive. Let the games begin. Yeah, what would be better than a big war where every bank stops dealing with Bitcoin and makes it near impossible to get money in and out of the exchanges. Can't wait for that. Seriously, you don't understand what you're wishing for. Get out of fantasy land man. The governments and banks could destroy Bitcoin for breakfast if they wanted to. Banks shutting down anything Bitcoin isn't good news. Really, it isn't. If only one can survive, it won't be Bitcoin. Anyone living in reality can see that. |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1759
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 25, 2013, 10:00:08 AM |
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gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
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June 25, 2013, 10:04:25 AM |
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Those are delusional libertarians who believe in the mantra: they laugh at you, they fight you ,then you win.
Yes Bitcoin network would still exist and mined but valued in the single digits.What a win it would be!
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gandhibt
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June 25, 2013, 10:06:58 AM |
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This is one heavy piece of information. holy crap indeed. It smells funny though because they were even willing to give a reason... who would've thought that? This Citibank plutocrats are defending their business, they are starting to be afraid of Bitcoin. Cool. The ones thinking that the bankers would let Bitcoin alone are foolish. Bitcoin is a natural born enemy of the traditional financial system. In the long run, only one can survive. Let the games begin. Yeah, what would be better than a big war where every bank stops dealing with Bitcoin and makes it near impossible to get money in and out of the exchanges. Can't wait for that. Seriously, you don't understand what you're wishing for. Get out of fantasy land man. The governments and banks could destroy Bitcoin for breakfast if they wanted to. Banks shutting down anything Bitcoin isn't good news. Really, it isn't. If only one can survive, it won't be Bitcoin. Anyone living in reality can see that. Very big bullshit. They would have done it already if it would be so easy. Technical analysis (not speculative) proofs on its own that bitcoin can not be destroyed. Price can go low but that's a different subject. Pirates, P2P, opensource has amazing abilities to adapt, they will own the world, it's just a matter of time. |
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ShroomsKit
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June 25, 2013, 10:08:11 AM |
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Those are delusional libertarians who believe in the mantra: they laugh at you, they fight you ,then you win.
Yes Bitcoin network would still exist and mined but valued in the single digits.What a win it would be!
Oh Rampion would cry from happiness if that would happen. 1000's of Bitcoins worth 5 cents each and not a person in the world who would want to touch them anymore. He would call that the war has been won. |
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Its About Sharing
Legendary
Offline
Activity: 1442
Merit: 1000
Antifragile
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June 25, 2013, 10:08:39 AM |
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This is one heavy piece of information. holy crap indeed. It smells funny though because they were even willing to give a reason... who would've thought that? This Citibank plutocrats are defending their business, they are starting to be afraid of Bitcoin. Cool. The ones thinking that the bankers would let Bitcoin alone are foolish. Bitcoin is a natural born enemy of the traditional financial system. In the long run, only one can survive. Let the games begin. Yeah, what would be better than a big war where every bank stops dealing with Bitcoin and makes it near impossible to get money in and out of the exchanges. Can't wait for that. Seriously, you don't understand what you're wishing for. Get out of fantasy land man. The governments and banks could destroy Bitcoin for breakfast if they wanted to. Banks shutting down anything Bitcoin isn't good news. Really, it isn't. If only one can survive, it won't be Bitcoin. Anyone living in reality can see that. This is Napster's closure inviting Bit-Torrent all over again. This is just fueling more innovation with decentralized exchanges, physical exchange meeting points, etc. They might very well crash the price of BTC in the short term with these types of announcements, but in the longer term they are helping us to create an infrastructure we desperately need. Then they will probably make it illegal, but if the existing banking system continues it's tumble, they will probably fail miserably in that endeavor. |
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bangersdad
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June 25, 2013, 10:20:48 AM |
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Will you have the guts to do the right thing when the pressure is on? If yes, I applaud and honor you. If not, here are a few cheap excuses to use (after all, who wants to admit conditioning or cowardice):
Without the rule of law, everything would fall apart.
Without regulation, criminals would destroy everything.
Yes, regulation is coercive, but along with it comes a certain amount of public benefit!
I got ripped off, and someone has to fix it!
If I can’t sue someone, they can get away with ripping me off!
We can’t get people to use Bitcoin unless it’s authorized.
We need approval or we will forever remain a tiny market.
A significant number of Bitcoin people will say these things (and others), but the real truth will be that they are scared, or are still hoping to get mega-rich, or just can’t rip the “government is our friend” meme out of their heads. But mostly it will be fear.
We all feel fear of course, but some of us are determined enough to do the right thing, even when we’re afraid.
So, here’s a final tip: If you run into someone who can feel the fear and still do the right thing, don’t let go of them.
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