Bitcoin Forum
December 10, 2016, 11:02:22 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: New Difficulty Calculation  (Read 3507 times)
AngelusWebDesign
Sr. Member
****
Offline Offline

Activity: 392


View Profile
June 20, 2011, 03:20:13 PM
 #21

If it actually happened in the professional stock markets before, I stand corrected. I'm man enough to admit when I'm wrong about something.

STILL, the fact that they had circuit breakers in place puts them far above Mt. Gox.

And I bet you didn't have people on forums, "You can't rollback my Proctor & Gamble BUY orders @ .01!  I'm gonna sue you!"

In other words, the above-mentioned DOW market shutdown & fix was much more timely than the one at Mt. Gox. The guys at Mt. Gox were probably playing video games or something when the crash happened. Or they were sleeping. Either way, they simply don't have enough manpower OR know-how to run a professional, secure currency exchange. That's the point I'm trying to make.
1481367742
Hero Member
*
Offline Offline

Posts: 1481367742

View Profile Personal Message (Offline)

Ignore
1481367742
Reply with quote  #2

1481367742
Report to moderator
1481367742
Hero Member
*
Offline Offline

Posts: 1481367742

View Profile Personal Message (Offline)

Ignore
1481367742
Reply with quote  #2

1481367742
Report to moderator
1481367742
Hero Member
*
Offline Offline

Posts: 1481367742

View Profile Personal Message (Offline)

Ignore
1481367742
Reply with quote  #2

1481367742
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481367742
Hero Member
*
Offline Offline

Posts: 1481367742

View Profile Personal Message (Offline)

Ignore
1481367742
Reply with quote  #2

1481367742
Report to moderator
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
June 20, 2011, 03:32:58 PM
 #22

Mt. Gox aren't some guys in a basement.
They have a massive office in Cerulean Tower which is one of the most expensive areas in Tokyo. They are a registered company that pays taxes in Japan.

You can even visit them or check the place on google maps.
I think you are discounting the fact that their turnover is often nearly a million dollars per day.

Is Sony just a mickey mouse operation because all their data was stolen?
No, it's one of the oldest technology companies in the world.

p.s. People, companies and stock market officials have been sued after real life flash crashes.
There are countless cases where a computer error executed a sell order in a wrong sequence (i.e. 60,000 stocks at $1 instead if 1 stock at $60,000).

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
AngelusWebDesign
Sr. Member
****
Offline Offline

Activity: 392


View Profile
June 20, 2011, 03:36:02 PM
 #23

Mt. Gox aren't some guys in a basement.
They have a massive office in Cerulean Tower which is one of the most expensive areas in Tokyo. They are a registered company that pays taxes in Japan.

You can even visit them or check the place on google maps.
I think you are discounting the fact that their turnover is often nearly a million dollars per day.

Is Sony just a mickey mouse operation because all their data was stolen?
No, it's one of the oldest technology companies in the world.

p.s. People, companies and stock market officials have been sued after real life flash crashes.
There are countless cases where a computer error executed a sell order in a wrong sequence (i.e. 60,000 stocks at $1 instead if 1 stock at $60,000).

"Kids" can afford an expensive office when they do a million dollars a day in trades. The fact that they have money has no bearing on their professionalism or competence. BTW, the fact that a bunch of kids are running an exchange that does $1 million per day is EXACTLY MY POINT. They are too big for their britches. They are in way over their heads. They haven't a clue.
Jack of Diamonds
Sr. Member
****
Offline Offline

Activity: 252



View Profile
June 20, 2011, 05:57:49 PM
 #24

Mark Zuckerberg was a "kid" barely in his 20s when he created Facebook. It was also riddled with problems after it started expanding.

He's now 27 and owns one of the most valuable companies in the world employing 1000+ people and is a billionaire. Point?

The current economic crisis was started by bankers in their 50's and 60's taking astronomical risks and speculating on garbage loans in the US housing market. Age doesn't mean anything.

1f3gHNoBodYw1LLs3ndY0UanYB1tC0lnsBec4USeYoU9AREaCH34PBeGgAR67fx
Rob P.
Member
**
Offline Offline

Activity: 84



View Profile WWW
June 20, 2011, 06:02:51 PM
 #25

"Kids" can afford an expensive office when they do a million dollars a day in trades. The fact that they have money has no bearing on their professionalism or competence. BTW, the fact that a bunch of kids are running an exchange that does $1 million per day is EXACTLY MY POINT. They are too big for their britches. They are in way over their heads. They haven't a clue.

If you're "man enough", why don't you just admit that perhaps, maybe, you were wrong to go off the deep end.  You have NO IDEA of the credentials MtGox's operators have, and probably didn't bother to find out.  You just assumed that since they were dealing in Bitcoins, they were "some kid".

You stand corrected, admit it, and move on.

--

If you like what I've written here, consider tipping the messenger:
1GZu4CtHa6ai8iWoWiVFxV5VVoNte4SkoG

If you don't like what I've written, send me a Tip and I'll stop talking.
Synaptic
Member
**
Offline Offline

Activity: 84


View Profile
June 20, 2011, 06:05:27 PM
 #26

"Kids" can afford an expensive office when they do a million dollars a day in trades. The fact that they have money has no bearing on their professionalism or competence. BTW, the fact that a bunch of kids are running an exchange that does $1 million per day is EXACTLY MY POINT. They are too big for their britches. They are in way over their heads. They haven't a clue.

If you're "man enough", why don't you just admit that perhaps, maybe, you were wrong to go off the deep end.  You have NO IDEA of the credentials MtGox's operators have, and probably didn't bother to find out.  You just assumed that since they were dealing in Bitcoins, they were "some kid".

You stand corrected, admit it, and move on.

"Hey, I know! Let's just give our entire database to our 'financial adviser. Should be safe as all fuck with him!"

"Yeah, good idea! We're totally mature and ready for the responsibility of multiple millions of dollars worth of hundreds of thousands of people's assets. WE HAVE TEH CREDENTIALS."

"YAY."
AngelusWebDesign
Sr. Member
****
Offline Offline

Activity: 392


View Profile
June 20, 2011, 06:13:40 PM
 #27

+1
Synaptic
Member
**
Offline Offline

Activity: 84


View Profile
June 20, 2011, 06:18:50 PM
 #28

...and then the mods just delete any serious criticism of MtGox and everyone continues on as blind as ever...

Move along folks, we've got serious business to take care of here.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!