Mt.Gox Meltdown
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Resorting to insults so soon, what no argument.
You clearly have no clue regarding half the shit that your putting down here.
If only you would have had this blind belief when you invested at the bottom, you actually would have made some real money and if that was the case we wouldn't see you here filling everyones heads with shit would we. Desperately trying to cling on, its pathetic.
Slowly but surely, country by country BTC will be outlawed, its already started, you just try to spin it in favour of your argument because you're a fool. China, Russia, won't be too long before its the US and then the EU.
What happens when the banks/payment systems etc stop processing $$ for the exchanges (which has also already started)? How will you buy them, providing it is still legal to do so?
Legislation affecting markets is the primary field of focus in economics.
He wasn't addressing economics, only the law.
Of course, that's effective to quell the masses in each country it's done in. But history books show that if you do it in one country, other countries open up to it and it grows there faster than ever... How do you think Hong Kong and Singapore became banking HQs?
Meanwhile, passing those laws in the US hasn't stopped anyone that really cares from using it. They either move to where they can use it openly, or get really good at using it underground. See: Alcohol prohibition.
End result: Still a win for bitcoin, just not as soon in the country the bad law was passed in.
Game theory brah.
Fewer and fewer people believe that propaganda every single day. USD is no longer a real reserve currency... the % of internation payments in USD went way down from the high 70s to just above 50% recently, and it's dropping faster than ever since the Snowden leaks. Everything has changed, try and keep up.
OMG Matt, It's open source code and you are a freaking coder.
How could you not know by now that the NSA writing bitcoin has the exact same result on society as the Cypherpunks writing bitcoin?
It's just MATH man! It is what it is, and it's all laid out there for you to see what it will do and how it behaves.
Oh, I'm the one with no clue about bitcoin, eh? Alright, noted for the record.
Any belief I had at the bottom was indeed pretty blind. I didn't have those two years of daily study on how the blockchain works and the economics of it doing so since then.
Luckily I was correct already back then, and ever since my sureness of what's going to happen with bitcoin has only hardened, even now that we are under so many attacks.
You don't get me at all bro. Not one bit.
I do wish I'd invested more... But my intention is not to pump the price here... Who does that for 2 years straight? If you followed any of the biggest names in bitcoin like Mike Hearn & the head devs, or @aantop, Roger Ver, Jeffrey Tucker, (of Mises) or so many other bitcoin proponents on facebook or twitter, you'd know that once intelligent people get hooked on bitcoin, there is no giving it up. It becomes your life... Not because you want to make money; but because you want to live in that world it promises.
All I'm doing on these bitcoin threads is helping to create that world. It's working too, judging by the hundred or so WF members that have PMed me for info on how to get started in bitcoin.
What, do you think my side is losing or something? Because the price is "only" $650 now?
Hilarious. I don't use the price to judge bitcoin's success at all actually. News always ebbs and flows to nudge the price this way or that way, it's kinda boring by now... I'm much more interested in seeing BTC adopted in new places with bad monetary policy, and of course opening up bottlenecks like the ones ATMs shipping now are designed to do.
Wow, so you didn't even know that the pre-existing ban in the USSA was far worse than all "bans" that china, russia, thailand and other countries have done?
AML & KYC laws here cripple the bitcoin economy more than any other countries' bans could even begin to accomplish. That's why we don't have exchanges in the USSA.
Canada and the EU have so many ATMs rolled out across their various big cities now that bitcoin could survive forever in either place no matter what the world governments do from here on out. Australia and South America are almost there too now.
You can buy bitcoin from almost 30,000 locations in England alone... You just don't seem to grasp how widespread bitcoin is.
With over 2,000 ATMs shipping this month from 4 different companies, major bottlenecks around the world are opening up fast.
In which country? The banks in the USSA are already extremely hostile to bitcoin business; Coinbase and bitpay have offshore backup plans for the day that their banks stab them in the back too.
It's like you people don't realize that there's other countries out there beyond 'Murika or something... Why do I always have to spell this stuff out??
If you stopped referring to the US as the USSA, and reduced the "the revolution is coming!" agenda a bit in your posts, they'd probably be taken more seriously. Every time I see you write "USSA" my eyes roll and I zone out.
You say lots of good stuff and make plenty of decent points, but your anti-government agenda built into all of your bitcoin posts discredits a lot of what you say.
This is, assuming you are actually trying to drive bitcoin adoption here, rather than convert people to your political beliefs (they are not the same thing).
If you really want to promote bitcoin adoption, try to keep the government/"revolution" stuff out of your arguments. Focus on the irrefutable benefits people can gain from Bitcoin, rather than it being a mechanism to overthrow the US government and you'll win over more people.
It's similar to the gun wielding NRA nutjobs you see who say lots of decent stuff about gun control, but then completely discredit themselves by mixing it in with some far-out political agenda that alienates everyone.
If you really want to drive bitcoin adoption you want to appeal to the mainstream, and the mainstream doesn't want to overthrow fiat, the US government or see any benefit in doing so.
$555 on Mtgox. Must be because they said currency withdraws aren't affected, causing people to sell their btc and try to withdraw with currency.
Also they are claiming this is a problem with the bitcoin code itself, so apparently what happened at Mtgox could happen everywhere else?
Also they are claiming this is a problem with the bitcoin code itself, so apparently what happened at Mtgox could happen everywhere else?
Great point well said Mituozo. The very nature of Lukeps argument does go against mainstream adoption. BTC really is fighting a losing battle, it is clear that it is not going to be this "new world currency" that you seem to think it is. It will have its place and that will be on the black market.
I really wouldn't put too much emphasis on those ATM's either if I was you.
I really wouldn't put too much emphasis on those ATM's either if I was you.
OMG... LOL... 145 btc-e ... its exploded
The sells buyed out every set buyed order at btc-e and so the price dropped to 145
Not a single buyer left.
Looks like it actually hit 102 at one point and half the world is even up yet. Going to be an interesting day.
OMG... LOL... 145 btc-e ... its exploded
The sells buyed out every set buyed order at btc-e and so the price dropped to 145
Not a single buyer left.
Looks like a glitch or something?
Not a glitch - the sells overtook the buy orders. There was not enough buyers to catch all the sells. Anyway, it already bounced up but this will go down again in the next hours and days - more at once i assume because that is how such a crash works normally. I don't know the word for this .. hyper crash?
OMG... LOL... 145 btc-e ... its exploded
The sells buyed out every set buyed order at btc-e and so the price dropped to 145
Not a single buyer left.
That was an obvious misprint, happens all the time on the major exchanges (nasdaq/nyse/etc) but yea it's crashing pretty hard right now.
Nope, it was real - even it can be that guy mistyped the order. But someone dropped 3000 coins at once with that ultra low sell over the order book.
And the buy book was thin after that massives sells before.
While I'm here and bored. What the fuck is this shit. Gold has intrinsic value, BTC on the other hand has no intrinsic value and can absolutely go down to $0.
Do you even economics bro!