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Author Topic: Heads Up People  (Read 3055 times)
AngelusWebDesign
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June 24, 2011, 10:25:22 PM
 #21

When MtGox goes back up you're going to a surge in volume at other exchanges. Think about how many big guys had in storage at MtGox before they lost most users trust...

Sure.  People will move their coins elsewhere.  Why sell 'em though, unless you've lost faith in BTC rather than gox?  Bitcoin wasn't hacked, Gox was.  (so goes the story anyway.  Whether or not you believe it is up to you).


What the heck are you talking about?

There is no one with an ounce of credibility (read: more than a common troll) who claims the Bitcoin Block Chain has been messed with/compromised/exploited/hacked.

Bitcoin itself is, and has always been safe and intact. That much is not open for debate.

You can suggest that Mt. Gox is running away with all our money -- that much at least has a shred of evidence.

But a would-be Bitcoin cracker would have to have more than 11 Thash/s of computing power to screw with the Block Chain and counterfeit BTCs. He would be better off mining BTC with everyone else!

Although difficulty increases DO lop off 1/3 of my income (as a miner) each time they happen, I must say there IS a rosy side to Difficulty Increases. They make Bitcoin that much more hacker-proof.

Matthew
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June 24, 2011, 10:32:44 PM
 #22

When MtGox goes back up you're going to a surge in volume at other exchanges. Think about how many big guys had in storage at MtGox before they lost most users trust...

Sure.  People will move their coins elsewhere.  Why sell 'em though, unless you've lost faith in BTC rather than gox?  Bitcoin wasn't hacked, Gox was.  (so goes the story anyway.  Whether or not you believe it is up to you).


What the heck are you talking about?

There is no one with an ounce of credibility (read: more than a common troll) who claims the Bitcoin Block Chain has been messed with/compromised/exploited/hacked.

Bitcoin itself is, and has always been safe and intact. That much is not open for debate.

You can suggest that Mt. Gox is running away with all our money -- that much at least has a shred of evidence.

But a would-be Bitcoin cracker would have to have more than 11 Thash/s of computing power to screw with the Block Chain and counterfeit BTCs. He would be better off mining BTC with everyone else!

Although difficulty increases DO lop off 1/3 of my income (as a miner) each time they happen, I must say there IS a rosy side to Difficulty Increases. They make Bitcoin that much more hacker-proof.

Matthew


OK, you've read something into what I wrote that I didn't intend.  Let me rephrase.

Bitcoin wasn't hacked.   (period, full stop.)

(Unrelated to the fact that bitcoin wasn't hacked) Gox was hacked.  Supposedly.  (As you said, there is enough out there to make some wonder if it really was hacked).

Got it?  I never suggested btc was hacked.

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AngelusWebDesign
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June 24, 2011, 10:33:46 PM
 #23

Thank you for the clarification.
Maria
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June 08, 2012, 01:59:54 AM
 #24

If indeed MT Gox resumes operations today, I will make a 10K BTC deposit. If they do not, I am cashing out whenever they open shop and never do business again. Too many days already with my money hostage.

Prices will surge to 30+

Maria.

A year ago I was getting GOXED.. Now a year after I am getting ZHOUTONGED... Gox did indeed reopen and we have been very happy since.

Viva Mt Gox! Viva Bitinstant!
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