billyjoeallen
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Hide your women
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February 13, 2014, 01:17:49 PM |
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It'll be interesting to watch him try and explain why every other exchange is back online except Gox.
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kkaspar
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Activity: 140
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banned but not broken
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February 13, 2014, 01:19:40 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
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stompix
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Leading Crypto Sports Betting & Casino Platform
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February 13, 2014, 01:20:33 PM |
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Why are you saying that? There is no mentioning of such thing in the article , nor a statement from others exchangers.
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empowering
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Activity: 1078
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February 13, 2014, 01:21:46 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
Do you own Bitcoin? (just outta interest)
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seljo
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Hodling since 2011.®
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February 13, 2014, 01:22:48 PM |
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stompix
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Activity: 3024
Merit: 6585
Leading Crypto Sports Betting & Casino Platform
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February 13, 2014, 01:23:00 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
We aren't talking about a government controlled currency which can be devaluation with a single click. If people don't want to sell it , it won't go down , if people want to sell it badly enough it will go down to that price and even further down.
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hdbuck
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February 13, 2014, 01:23:35 PM |
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It'll be interesting to watch him try and explain why every other exchange is back online except Gox. I dont think we can withdraw BTCs from either BTC-e or Stamp yet?! and there is no clue when we will be able to do so. could take months..
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stompix
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Activity: 3024
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Leading Crypto Sports Betting & Casino Platform
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February 13, 2014, 01:25:40 PM |
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Coming from them , it's more of a praise than an attack.
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mestar
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February 13, 2014, 01:25:46 PM |
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suddenly everyone is holding fiat and the only way out is BTC
You are aware that by trading, no amount of fiat on the gox is lost or gained. Only the fees are taken out. So, if there was 100 million when withdrawals are stopped, there is still 100 million there. "Everyone holding fiat" is not a possible option.
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hdbuck
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February 13, 2014, 01:25:51 PM |
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what is funny is that they claim there is no recourse when using bitcoins... well.. Mr banskter there wont be any recourse too when you fucking bail out and disappear with our fiat or when you will let the governments take % of our savings... tsss
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koryu
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February 13, 2014, 01:28:53 PM |
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can anybody explain who actually benefits from these attacks?
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billyjoeallen
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Activity: 1106
Merit: 1007
Hide your women
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February 13, 2014, 01:37:24 PM |
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It'll be interesting to watch him try and explain why every other exchange is back online except Gox. I dont think we can withdraw BTCs from either BTC-e or Stamp yet?! and there is no clue when we will be able to do so. could take months.. I'm assuming that the other exchanges will find a work-around before Gox does.
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billyjoeallen
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Activity: 1106
Merit: 1007
Hide your women
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February 13, 2014, 01:42:17 PM |
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can anybody explain who actually benefits from these attacks?
Speculators with short positions, people wanting to buy in at a lower price, businesses with competing products (PayPal, Western Union), governments that enforce capital controls, black-hat hackers wanting street cred, and the thousands of people who publicly predicted Bitcoin would fail.
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joburgtaxi
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February 13, 2014, 01:42:46 PM |
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can anybody explain who actually benefits from these attacks?
People looking for cheap coins !!
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magicmexican
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February 13, 2014, 01:44:46 PM |
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Looks like other exchanges still take mtgox into the consideration
But that Gox price... i actually would even consider buying Goxcoins now
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kkaspar
Full Member
Offline
Activity: 140
Merit: 100
banned but not broken
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February 13, 2014, 01:49:57 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
Do you own Bitcoin? (just outta interest) I owned bitcoins till the start of December. After it got clear that there is no future in China, I sold. I bought back in about two weeks ago, partially because I was intoxicated and bored behind the computer. Luckly sold couple of hours later with 803$. Right now, I don't see myself buying back anytime soon. When I'll buy back in, then It will probably be buying some altcoin, not bitcoin. Right now the only thing that keeps the bitcoin price from an ugly collapse are the thousands of miners who have invested thousands of dollars in their ASIC equipment. They are the ones who are holding and keeping the supply tight, because selling with this price means no ROI. But they can only hold the price for so long, because the electric bills are piling and their wives or girlfriends are yelling at them on why aren't the noisy machines producing any money like promised. My faith in bitcoin is in a downtrend while my faith in cryptos and privatized monetary systems in general keeps steady.
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kkaspar
Full Member
Offline
Activity: 140
Merit: 100
banned but not broken
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February 13, 2014, 01:55:42 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
We aren't talking about a government controlled currency which can be devaluation with a single click. If people don't want to sell it , it won't go down , if people want to sell it badly enough it will go down to that price and even further down. Yeah, you can't control the stupidity of the market. The nature of the market will determine the probable percentage of stupid people involved. Bitcoin has been very attractive as an get-rich-quick scheme, so I agree that it is little naive to expect something else. You can only observe the stupidity and imagine scenarios on how things would have went if...
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stompix
Legendary
Offline
Activity: 3024
Merit: 6585
Leading Crypto Sports Betting & Casino Platform
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February 13, 2014, 01:57:54 PM |
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The entire market wasted around two months on building illusions around the Chinese market. When it was clear that soon there won't be much of Chinese market left, then religious zealots kept repeating otherwise. That created a lot of confusion on what will happen in the future and actually slowed down progress in the long run. The uptrend that started in January was fueled by pure stupidity. The right thing would have been to drop the price and then plan another rise with opening new exchanges in new geographical locations. It would have been the normal life-cycle of bitcoin and the market would already be starting another uptrend. But with all these illusions and false hopes, we will probably see this downtrend last a lot longer then it should have been. The "get-rich-quick Choo Choo" people here have no vision or strategic thinking whatsoever. And new payment options like overstock mean nothing to the price of bitcoin. If anyone buys bitcoin to buy from overstock, then it will be converted back to fiat right away. New payment options like this will more probably have an negative effect on the price, since more bitcoins will be converted to $ by older adopters. New opening markets with the coming of new of gamblers are the only positive news that people should take into account when considering the price.
Do you own Bitcoin? (just outta interest) I owned bitcoins till the start of December. After it got clear that there is no future in China, I sold. I bought back in about two weeks ago, partially because I was intoxicated and bored behind the computer. Luckly sold couple of hours later with 803$. Right now, I don't see myself buying back anytime soon. When I'll buy back in, then It will probably be buying some altcoin, not bitcoin. Right now the only thing that keeps the bitcoin price from an ugly collapse are the thousands of miners who have invested thousands of dollars in their ASIC equipment. They are the ones who are holding and keeping the supply tight, because selling with this price means no ROI. But they can only hold the price for so long, because the electric bills are piling and their wives or girlfriends are yelling at them on why aren't the noisy machines producing any money like promised. My faith in bitcoin is in a downtrend while my faith in cryptos and privatized monetary systems in general keeps steady. Ignoring the "I trade like a boss" I've bought low sold high thingy , the way you talk about miners holding the price and getting yelled at by their wife&girlfriends , the way you said the price should have been controlled , I really don't see you as a person who has a clue about bitcoin , and not as a bitcoin owner at all.
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creekbore
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Activity: 210
Merit: 100
Lazy, cynical and insolent since 1968
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February 13, 2014, 01:58:01 PM |
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I dont think we can withdraw BTCs from either BTC-e or Stamp yet?! and there is no clue when we will be able to do so. could take months.. I've been withdrawing BTC from BTCe the last few days no problems...where does this 'intell' come?
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Rampion
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Activity: 1148
Merit: 1018
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February 13, 2014, 01:58:33 PM |
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Attack? This is uber-bullish. If JP Morgan had to write a detailed report in order to shit on BTC it means they are pooping their pants. They are seriously concerned. Great.
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