OUCH! More Bad Bitcoin News...

[ITGeniusGuru]

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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[Gabi]

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.

[lightfoot]

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

C

[darkmule]

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.

[lightfoot]

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

C

[NJRiot]

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!

[yatsey87]

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.

[_tenletters]

It was only worth 10k btc if you got the garlic butter.

[barryblogs]

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/

[2bfree]

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

[lightfoot]

Yep. Keep calm and mine on.

[ManeBjorn]

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.

[angrynerd88]

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.

[roslinpl]

i will buy a lot BTC for gambling 

If you do come CoinBet.cc to spend it

[cbeast]

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

[ITGeniusGuru]

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?

[lightfoot]

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

[Lauda]

The situation on the exchanges is similar to the one in Kiev, once bad news strikes. (sadly)