julz (OP)
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August 11, 2011, 11:58:43 AM |
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Mt.Gox, The World’s Largest Bitcoin Exchange to Acquire Bitomat.pl, Compensate Loss Of Bitcoins https://www.mtgox.com/press_release_20110811.htmlThis is just awesome news. I'd prefer there were many independent exchanges rather than too much consolidation - but kudos to Mt Gox nonetheless!
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@electricwings BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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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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BitVapes
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BitVapes.com
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August 11, 2011, 12:05:48 PM Last edit: August 11, 2011, 01:10:03 PM by BitVapes |
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Bitcoin bailout... interesting. should be bullish for the bitcoin price in the short term
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The_Duke
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Lead Core BitKitty Developer
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August 11, 2011, 12:09:37 PM |
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And so the centralization of bitcoin continues.
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NOT a member of the so called ''Bitcoin Foundation''. Choose Independence!
Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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wumpus
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August 11, 2011, 12:39:41 PM |
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This is great news! At least the people will get their coins back.
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Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through File → Backup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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the founder
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August 11, 2011, 12:42:26 PM |
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This is great news! At least the people will get their coins back.
I think it's good news.... as long as there are a few exchanges then you'll see innovation... if there's only one then it's a problem.
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Bitcoin RSS App / Bitcoin Android App / Bitcoin Webapp http://www.ounce.me Say thank you here: 1HByHZQ44LUCxxpnqtXDuJVmrSdrGK6Q2f
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airdata
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August 11, 2011, 01:07:36 PM |
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Gox could really help the market out if they beef up man power and show that they're serious players, and not just a couple of dudes over in japan.
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kiba
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August 11, 2011, 01:12:41 PM |
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They do daily backup of their wallets to offsite location, both on site and remote, right?
At least that what I hope.
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rasengan
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August 11, 2011, 01:19:15 PM |
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Gox could really help the market out if they beef up man power and show that they're serious players, and not just a couple of dudes over in japan.
I am in the US, and I do believe my credentials, references and experience could put me in the category of a serious player. :-)
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Joseon.com - The First Legally Recognized Cyber State
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The_Duke
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August 11, 2011, 01:21:59 PM |
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NOT a member of the so called ''Bitcoin Foundation''. Choose Independence!
Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
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aq
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August 11, 2011, 01:49:57 PM |
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I am just guessing, but that could partial because of their, hm, "unique" design. It looks more like a toy website and not professional - way too much colors and unrelated images. I mean, they have a city falling down on the right side of the page. Not only is there no relation to bitcoins, it also helps me to feel uncomfortable on this site. Personally I really like the clean, professional looking design of Ruxum.
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evoorhees
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Democracy is the original 51% attack
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August 11, 2011, 01:53:45 PM |
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Bitcoin bailout... interesting. should be bullish for the bitcoin price in the short term
It's not a bailout when done with private money. It's just an acquisition between voluntary parties. Bailout is a terrible concept/term and is best reserved for the wretched government practice.
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evoorhees
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Democracy is the original 51% attack
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August 11, 2011, 01:57:29 PM |
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And so the centralization of bitcoin continues.
Every successful Bitcoin venture will increase "centralization" to a certain extent and there's nothing wrong with that. The great thing about Bitcoin is that centralization is not inherent - it's not structurally built into the system as with national banking systems and central banks, etc. A free, decentralized market will necessarily coalesce around vendors of strength, as it should. To the extent those vendors start dissapointing customers, a dozen competitors are welcome to enter the market and try their hand. Don't poo poo Mt. Gox's move here, I think it's both smart for them and a great relief to the btc community.
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ctoon6
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August 11, 2011, 01:57:43 PM |
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Bitcoin bailout... interesting. should be bullish for the bitcoin price in the short term
It's not a bailout when done with private money. It's just an acquisition between voluntary parties. Bailout is a terrible concept/term and is best reserved for the wretched government practice. yep when the government does it,it pisses me off, however when a private company does it with their own money, as long as it does not create a monopoly i could care less.
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ampirebus
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August 11, 2011, 02:31:59 PM |
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now to all the users who post mtgox make barely any income/profit need to back out with their tails between legs because backing up the value of 17,000 lost BTC takes balls of steel
steel i say
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julz (OP)
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August 11, 2011, 02:44:09 PM |
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Bitcoin bailout... interesting. should be bullish for the bitcoin price in the short term
It's not a bailout when done with private money. It's just an acquisition between voluntary parties. Bailout is a terrible concept/term and is best reserved for the wretched government practice. I agree. This is a purchase of good will - not a bailout. Mt Gox gets not just the good will from it's new Polish customers - but from the wider bitcoin community too. It's a show of confidence and strength. Just good marketing really.
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@electricwings BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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ctoon6
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August 11, 2011, 02:54:42 PM |
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Bitcoin bailout... interesting. should be bullish for the bitcoin price in the short term
It's not a bailout when done with private money. It's just an acquisition between voluntary parties. Bailout is a terrible concept/term and is best reserved for the wretched government practice. I agree. This is a purchase of good will - not a bailout. Mt Gox gets not just the good will from it's new Polish customers - but from the wider bitcoin community too. It's a show of confidence and strength. Just good marketing really. actually, eventually they will make money from this. they now have the #1 exchange + #3. i dont think it will take much more than a year for the bitomat portion of mtgox to make the money back.
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stick_theman
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August 11, 2011, 03:12:22 PM |
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This is a great news for the community in general. Looks like Mt Gox is slowly winning hearts and minds.
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BubbleBoy
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August 11, 2011, 03:41:34 PM |
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This is quite stupid. I agree to the purchase of the failed business and database at a hefty discount, and reimburse everyone up to 20 - 50BTC as a token of good faith. But cover the whole loss out-of pocket ? For some douche-bag's mistake ? What the hell !? Karma does not exist.
150.000$+ would be much better spent in improving their spartan site, opening markets in all major currencies, advertising bitcoin etc.
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