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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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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