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Author Topic: OUCH! More Bad Bitcoin News...  (Read 8045 times)
FeedbackLoop
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February 14, 2014, 02:35:56 PM
 #61

This basically sums up the Gox attitude towards custommers. Just look how that prick tries to avoid conversation.  I won't even talk to you for 10 seconds, get out of my way, don't touch me Cheesy
https://www.youtube.com/watch?v=ob9Ak1t09Ao

When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.

MtGox is talking about:
-  "The Bitcoin core developers"... they have "discussed" the solution proposed.
and,
- allow Bitcoin withdrawals again once the MtGox solution has been approved and standardized.

Huh? I thought Bitcoin was a decentralized currency with no central authority regulating it. And if we can alter the algorithms and checks now in place, who to say anyone cannot do it in the future again (some other "Core Developers" from another exchange)?

Can I send a couple of hookers to those "core developers " to get them to work for me?

In the same statement they make clear that there can be two implementations for a new TXID the same way there are multiple Bitcoin clients and implementations. It would just be convenient if there was only one standard for TXIDs.  In practice you don't really need TXIDs to be non-mutable (which is one of the reasons why it was not fixed for 2 years) and a lot of people and exchanges don't care about them. See the Kraken exchange and other less known ones that didn't pause for a second.

GOX has had serious problems for long and waiting for "approvals" is just yet another stalling technique.


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February 14, 2014, 02:41:45 PM
 #62

This basically sums up the Gox attitude towards custommers. Just look how that prick tries to avoid conversation.  I won't even talk to you for 10 seconds, get out of my way, don't touch me Cheesy
https://www.youtube.com/watch?v=ob9Ak1t09Ao

When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.

MtGox is talking about:
-  "The Bitcoin core developers"... they have "discussed" the solution proposed.
and,
- allow Bitcoin withdrawals again once the MtGox solution has been approved and standardized.

Huh? I thought Bitcoin was a decentralized currency with no central authority regulating it. And if we can alter the algorithms and checks now in place, who to say anyone cannot do it in the future again (some other "Core Developers" from another exchange)?

Can I send a couple of hookers to those "core developers " to get them to work for me?


Anyone can download the bitcoin source and blockchain, and modifiy it.

However you need consensus to propagate it around the network.
ITGeniusGuru
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February 14, 2014, 02:49:12 PM
 #63

However you need consensus to propagate it around the network.

Consensus of who?
A group of people?
An Organization?
Do we have a list of the names of those people somewhere and  where they live ?
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February 14, 2014, 02:50:46 PM
 #64

However you need consensus to propagate it around the network.

Consensus of who?
A group of people?
An Organization?
Do we have a list of the names of those people somewhere and  where they live ?

Anyone who downloads and installs the software and blockchain.

Such as, miners, web wallets, individuals, exchanges, corporations
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February 14, 2014, 02:57:12 PM
 #65

However you need consensus to propagate it around the network.

Consensus of who?
A group of people?
An Organization?
Do we have a list of the names of those people somewhere and  where they live ?
Consensus of the other clients. If you start sending wrong transactions every client will refuse them and thus will not propagate them.

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February 14, 2014, 04:36:43 PM
 #66

And we're back up to 700 ish this morning, too late for me to make a $400 killing. Drat.

C
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February 14, 2014, 04:44:11 PM
 #67

When you consider that some people have their lifetime savings invested in a cryptocurrency...
And when you look and see how fragile the Bitcoin economy is... a bug discovered in the network software locks thousands of people out of their Bitcoin deposits at the world's largest exchange.

Wake me up when a bug locks me out of my wallet.

Anyone who keeps their money on an exchange is an idiot.  Period.
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February 14, 2014, 04:48:08 PM
 #68

Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.

C
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February 14, 2014, 04:52:21 PM
 #69

actually moved my only 7.8 BTC in doge, just seemed right to do.
BTC falling while doge rising, will convert back when BTC sorts out its downward trend.
in the meantime, im making money!







            
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February 14, 2014, 05:53:17 PM
 #70

Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.

C

Depends how much is in your lifesavings lol.
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February 14, 2014, 06:40:40 PM
 #71

It was only worth 10k btc if you got the garlic butter.
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February 17, 2014, 03:35:11 AM
 #72

A good read:

Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/
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February 17, 2014, 03:20:43 PM
 #73

I hope bitcoin crashes to a few dollars so I can get in but I doubt that will happen people will buy like crazy if it hits $200 so there is no way goes that low unless the code is a total disaster thing or government tries to crash it in which case i'm buying

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February 17, 2014, 04:10:10 PM
 #74

Yep. Keep calm and mine on.
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February 17, 2014, 05:20:22 PM
 #75

That's what I'm doing.
No reason to panic just like anything it will have it's problems and ups and downs.


Yep. Keep calm and mine on.

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February 19, 2014, 08:16:00 AM
 #76

Anyone who puts their life savings in one investment is so far beyond an "idiot" it's not discuss-able.

C

i did. I am not an idiot. I am conscious to be risking. But greed, greed pushed me to do that.

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February 19, 2014, 11:35:10 AM
 #77

i will buy a lot BTC for gambling  Grin



If you do come CoinBet.cc to spend it Smiley
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February 19, 2014, 01:22:14 PM
 #78

"Looks like I picked the wrong week to quit sniffing glue." - Steve McCroskey

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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February 19, 2014, 03:35:05 PM
 #79

A good read:
Bitcoin’s largest exchange is dying. Here’s why that’s not a problem for Bitcoin.
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/15/bitcoins-largest-exchange-is-dying-heres-why-thats-not-a-problem-for-bitcoin/

Here's another good read:
http://www.wired.com/wiredenterprise/2013/11/mtgox/

And so now I have an idea: I will hire a bunch of 19-year old Russian hackers and form our own "Stratton Oakmont, BTC Inc." (seen the movie "Wolf of Wall street"?). We will buy MtGox for next to nothing and turn it around. Everyone will be paid with Vodka and the sexual favors of Japanese schoolgirls. Yes - you guessed it - our headquarters will be in Tokyo, the spiritual capital of Bitcoin.
Since a bunch of "core developers" of BTC clients (such as Bitcoin-QT and other clients) can get together and agree on a consensus to modify the way a blockchain is validated, we will develop our own new client (let's call it "Bitcoin-SO" (where SO is short for Stratton Oakmont), and this new client will compete with Bitcoin-QT and will direct 0.0001 BTC of every network transaction to our personal wallets.

In its initial launch phase, I am taking applications to fill various positions within the startup company. Who's in?
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February 19, 2014, 06:27:01 PM
 #80

I guess the question is when will Gox either fish or get off the pot? They have been in this lingering mode for awhile, either they fix themselves or just go out of business.

Any idea when that point will be reached?

C
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