Mt. Gox has filed for bankruptcy protection

[HairyMaclairy]

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.

+1

Disagree whoever or whatever has those R750k coins are using or will use them.  Unless they truly lost the private keys in some way.  Even the coins still in MtGox if any will have to be used. 

If the coins are truly in Mt Gox then they aren't hitting the market for a couple years.

[anu]

I've only been around since 5 December and I already feel like I've been through the wars.  

After a tough war there is usually a long, prosperous peace.

[F-bernanke]

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.

+1

Disagree whoever or whatever has those R750k coins are using or will use them.  Unless they truly lost the private keys in some way.  Even the coins still in MtGox if any will have to be used. 

You don't understand it.

[T.Stuart]

I've only been around since 5 December and I already feel like I've been through the wars.  

After a tough war there is usually a long, prosperous peace.

choo choo

[davidgdg]

Bitcoin might not be dead, but until they figure out a permanent solution to prevent exchanges from dropping like flies, I'd say Bitcoin is in a deep coma.

How about guaranteed bail-outs from the Fed like they do with the banks?

Get used to it. Bad companies fail in free markets. It's a feature not a bug.

[Salivan]

So lets see, the total amount of bitcoins just shrunk.

We had 12 million + 750k (gox)coins just a few moments back. so a total supply of 13 million BTC.


Now it's back to 12 million.

+1

Disagree whoever or whatever has those R750k coins are using or will use them.  Unless they truly lost the private keys in some way.  Even the coins still in MtGox if any will have to be used. 

You don't understand it.

no matter if coins are lost or stolen they were counted twice  at least in market perception , what good about it this is bitcoin  such miracles can't last forever, in oposition to "normal" financial world

[F-bernanke]

no matter if coins are lost or stolen they were counted twice  at least in market perception , what good about it this is bitcoin  such miracles can't last forever, in oposition to "normal" financial world

Exactly!

[Richard Branson]

I've only been around since 5 December and I already feel like I've been through the wars.  

After a tough war there is usually a long, prosperous peace.

choo choo

CCMF.
We will go lower, very low!

Do you really believe that BTC-e and Stamp can cover all BTC withdrawals? They don't have enough coins. Same shit like GOX. The whole centralized exchanges are a BIG problem for bitcoin.

[T.Stuart]

I've only been around since 5 December and I already feel like I've been through the wars.  

After a tough war there is usually a long, prosperous peace.

choo choo

CCMF.
We will go lower, very low!

Do you really believe that BTC-e and Stamp can cover all BTC withdrawals? They don't have enough coins. Same shit like GOX. The whole centralized exchanges are a BIG problem for bitcoin.

Branson I'm beginning to suspect that you are one of the GCHQ spy-trolls we have been reading about in the papers recently.

[bootlace]

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.

Who are these 'ton of investors'? Joe Sixpack turned on the news and thinks Bitcoin is dead. Any financial institution worth a damn won't touch Bitcoin with a 10 foot pole long after the dust has settled. Any present or future business that accepts Bitcoin is a net seller of Bitcoins, so count those out. Emerging markets are already painting it as an elaborate ponzi and in some cases banning it. There is still a ton of stolen coins waiting to be dumped.

The taint of this news will not be washed by some Reddit headline of a donut shop down the street accepting BTC. As far as the mainstream perception goes, Bitcoin has a crapton of PR to do until it can shakeoff this colossal fuckup - the fact that some stupid CEO is actually responsible for it has little meaning outside of the in-the-know folks who are already a part of the Bitcoin community.

I ask you again, who are these 'ton of investors' you speak of?

[Salivan]

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.

Who are these 'ton of investors'? Joe Sixpack turned on the news and thinks Bitcoin is dead. Any financial institution worth a damn won't touch Bitcoin with a 10 foot pole long after the dust has settled. Any present or future business that accepts Bitcoin is a net seller of Bitcoins, so count those out. Emerging markets are already painting it as an elaborate ponzi and in some cases banning it. There is still a ton of stolen coins waiting to be dumped.

The taint of this news will not be washed by some Reddit headline of a donut shop down the street accepting BTC. As far as the mainstream perception goes, Bitcoin has a crapton of PR to do until it can shakeoff this colossal fuckup - the fact that some stupid CEO is actually responsible for it has little meaning outside of the in-the-know folks who are already a part of the Bitcoin community.

I ask you again, who are these 'ton of investors' you speak of?

agree that is bad time
now we need breakthrough in services segment to  overcome bad mood. Something new and innovative ( what average joe will like ), but not next burger shop

[seleme]

Hm, what do you think about Gox or someone who would eventually buying them offering settlement for fiat value of bitcoins they owe at the last price traded at Gox?

[T.Stuart]

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.

Who are these 'ton of investors'? Joe Sixpack turned on the news and thinks Bitcoin is dead. Any financial institution worth a damn won't touch Bitcoin with a 10 foot pole long after the dust has settled. Any present or future business that accepts Bitcoin is a net seller of Bitcoins, so count those out. Emerging markets are already painting it as an elaborate ponzi and in some cases banning it. There is still a ton of stolen coins waiting to be dumped.

The taint of this news will not be washed by some Reddit headline of a donut shop down the street accepting BTC. As far as the mainstream perception goes, Bitcoin has a crapton of PR to do until it can shakeoff this colossal fuckup - the fact that some stupid CEO is actually responsible for it has little meaning outside of the in-the-know folks who are already a part of the Bitcoin community.

I ask you again, who are these 'ton of investors' you speak of?

I never thought about exactly how the long-term bear market predicted by a few could happen - I just thought "rubbish!" - but what has just happened could well mark the unwinding of a whole lot of stuff going back several years.

Right or wrong "malleability", "laundering", "hacking", "Silk Road", etc. are going to be on many political agendas when it comes to digital currencies in 2014: a new kind of choo choo about to leave the station - massive negative propaganda. But I can see this also possibly being countered by major efforts at positive news by businesses and investors. Also battles behind the scenes that we only become half aware of.

One  thing that would help a little: the Bitcoin richlist should immediately stop putting the mix of positive spin and anti-regulation banter at the end of each and every Gox article they write these days. Just commiserate with the people for a week or two - it looks better and has a more human touch than the libertarian "it was your choice so let's move on" cold shoulder I'm amazed to see coming from many of the bigwigs.

For what it's worth I for one will not be blaming Bitcoin for my own stupid loss at Gox.

[lumierre]

No massive panic in the markets. As I expected, the market has already priced in gox' demise. 

[seleme]

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.

Joe Sixpack turned on the news and thinks Bitcoin is dead.

If I had a Bitcoin for every Joe Asshole who said Bitcoin is dead in last few years I'd bailout MtGox without a single problem today 

[Richard Branson]

No massive panic in the markets. As I expected, the market has already priced in gox' demise. 

Mainstream media didn't pick up the story yet.
More FUD will start within 24 hours.

[anu]

No massive panic in the markets. As I expected, the market has already priced in gox' demise. 

Mainstream media didn't pick up the story yet.
More FUD will start within 24 hours.

There is no such thing as bad publicity.

[cosmofly]

Price will crash in a few hours

[anu]

Price will crash in a few hours

You still hope for $250? Sorry mate, not gonna happen.

[TERA]

There are a ton of investors waiting on the sidelines and all they want is some closure to this ongoing drama and for the bottom to be found and the worst priced in before they buy. So any end to the mtgox ordeal is bullish. There may be a short term downwards movement due to panic but ultimately upwards.

Who are these 'ton of investors'? Joe Sixpack turned on the news and thinks Bitcoin is dead. Any financial institution worth a damn won't touch Bitcoin with a 10 foot pole long after the dust has settled. Any present or future business that accepts Bitcoin is a net seller of Bitcoins, so count those out. Emerging markets are already painting it as an elaborate ponzi and in some cases banning it. There is still a ton of stolen coins waiting to be dumped.

The taint of this news will not be washed by some Reddit headline of a donut shop down the street accepting BTC. As far as the mainstream perception goes, Bitcoin has a crapton of PR to do until it can shakeoff this colossal fuckup - the fact that some stupid CEO is actually responsible for it has little meaning outside of the in-the-know folks who are already a part of the Bitcoin community.

I ask you again, who are these 'ton of investors' you speak of?

- Every bear and bull who has sold and is waiting to rebuy.
- The ridiculously overextended short interest on bitfinex.
- Second Market
- Anyone who has become aware of bitcoin in the past 3 months but has been waiting for the boom, bust, and reversal to complete before buying in.
- My followers, who I have had on call about this. They are waiting with large sums of fiat.
- The insane buyers on Bitstamp who drove it up from 400 to 600 and put tons of fiat on the order book.
- The bitcoin bank in cyprus just opened.
- People who will start buying into the new ATM machines
- Any banker or wealthy person who has become aware and is waiting to take a gamble at this when the time is right.
- [ill let some bulls continue this list her, because im actually waiting to rebuy myself, so i wont put too much eeffort]

Screw what Joe Sixpack and Mainstread Media think. They are the ultimate contrarian indicator. Dont you get it? When public sentiment is low is the BEST time to buy. I want to buy low BEFORE public sentiment is good. Once public sentiment is good, prices will be driven up astronomically, and it will soon be time to SELL, not buy.
 
Eventually regulated exchanges in the United States which function like stock markets will be launched. When that happens, people will forget all about mtgox and those will be seen as bitcoin's kindergarten days, before the price blasts into space.