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132353 No.132353 [STICKY]  [Reply] [Original] [archive.moe]

http://buttcoin.org/extended-dormancy-mt-gox-erupts
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

Pic related.

>> No.132361

Finally.

Finally it's all over.

>> No.132362
File: 19 KB, 220x276, 1393302021764.jpg [View same] [iqdb] [saucenao] [google] [report]
132362

postin in a sticky

>> No.132365
File: 266 KB, 500x500, cantspellbtc.png [View same] [iqdb] [saucenao] [google] [report]
132365

toastin' in a sticky bread

>> No.132366
File: 234 KB, 800x531, 1393302097702.jpg [View same] [iqdb] [saucenao] [google] [report]
132366

rip cryptocurrency
Why didn't you stop MtGoy? Now it's all ogre.

>> No.132370
File: 372 KB, 603x818, 1393302137797.png [View same] [iqdb] [saucenao] [google] [report]
132370

>mfw I've never owned monopoly money

>> No.132374

Looks like I picked the wrong day to stop sniffing glue

>> No.132375
File: 43 KB, 452x350, image.jpg [View same] [iqdb] [saucenao] [google] [report]
132375

Posting in bread

>> No.132377
File: 44 KB, 740x290, mtgox.png [View same] [iqdb] [saucenao] [google] [report]
132377

>> No.132379

yeah I'm sure most of those fucking coins aren't in their own wallets and Goxers aren't just waiting for another market to unload on

>any year
>providing liquidity to scammers and criminals

how can people possible support bitcoin?

>> No.132381

So how long until he's killed by an angry neckbeard?

>> No.132382

On behalf of those who did their research, and didn't delude themselves into buying a fake lottery ticket....

We told you so.

>> No.132385
File: 351 KB, 1613x1210, bitcoin-lambo-g.jpg [View same] [iqdb] [saucenao] [google] [report]
132385

>>132353
>linking buttcoin.org
haha oh wow mod, you fucked up.

buttcoin is SA, they're still mad /g/entoomen rused them from mining bitcoin in 2010 and 2011 when bitcoin was under $1/BTC. we told them bitcoin was a scam and made them some OC and they ran with it. it kept mining difficulty low and we made a shitton of money. pic related.

>> No.132386

Everyone will now lose faith in decentralized currency. It truly is a sad day.

>> No.132388

>>132381
Haha did you see those protestors? They were going to limp-wristedly worry him to death; that's why mtgox is incommunicado.

>> No.132390

>>132353
Glad to be a part of sticky history. Thanks moot for the board

>> No.132397
File: 1.87 MB, 768x373, goxprotest.gif [View same] [iqdb] [saucenao] [google] [report]
132397

>>132388

>> No.132400
File: 2.00 MB, 329x175, qDGr8bn.gif [View same] [iqdb] [saucenao] [google] [report]
132400

>how the pdf is reading to everyone with monopoly money right now

>> No.132401

the dream is ded boys

>> No.132402

https://vip.btcchina.com/page/notice20140225
>The purpose of this document is to summarize a joint statement to the Bitcoin community regarding the insolvency of Mt.Gox.
>insolvency
http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox

possible hoax or not:
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
> At this point 744,408 BTC are missing due to malleability-related theft which went unnoticed for several years.
>gox.com redirects to mtgox.com a couple hours after the leak
>gox halts trading a couple hours after the leak like the document says

https://www.mtgox.com/
>down
https://support.mtgox.com/
>down
support is on zendesk so they shouldn't be going down as well unless MTGOX IS KILL

>> No.132403
File: 374 KB, 1920x1200, 1393302520483.jpg [View same] [iqdb] [saucenao] [google] [report]
132403

please die, cryptocurrencies

>> No.132404

as someone who never dumped money into bitcoin, someone explain to me what's happening

>> No.132407

How incredibly incompetent can mtgox be? This is BASIC ACCOUNTING. If this was true, this is YEARS of incompetence.

That's why I think it's fake.

>> No.132410

>>132404
the largest bitcoin exchange just went tits-up

everyone who had money or bitcoins in there is shit out of luck

this is actually good for bitcoin because _______

>> No.132413

>tfw got out in the 700 mark

stay pleb

>> No.132414

>>132407
>incompetence
It was all a ruse. They took everyone's money and ran.

>> No.132416

>all these sourgrape fags coming out of the woodwork

>HA-HA I TOLD U BITCOIN WAS A SCAM

exchange != currency

>> No.132417

http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

this document was leaked literally 30 mins before mt goyim stopped trading and 2 hours before mtgox.com went blank completely

>> No.132419

>>132410
>largest
lel no. bitstamp and huobi are larger

>> No.132427

I don't think I ever had faith in a site built for Magic The Gathering.

>> No.132432
File: 83 KB, 600x800, BgXhVwPCcAAKDR1.jpg [View same] [iqdb] [saucenao] [google] [report]
132432

Shut it down.

>> No.132434

Not only did the mt. gox wallet-holders gets screwed, but EVERYONE with bitcoins is losing money right now because of mt. gox's fuckups.

Mark Karpeles must be the most hated man on the planet right now who isn't a public figure. I almost feel sorry for the guy, all he wanted to do was play magic the gathering...

>> No.132437

This just means it's a good time to buy buttcoins at bargain prices. $488 @ coinbase currently.

>> No.132441
File: 258 KB, 351x364, r u le foken srs m8.png [View same] [iqdb] [saucenao] [google] [report]
132441

>there is a sticky discussing buttcoins/cryptocurrencies

this board is a fucking failure

>> No.132443
File: 29 KB, 600x438, Capture.png [View same] [iqdb] [saucenao] [google] [report]
132443

>>132419
is that so

>> No.132444

>>132385

What proof do you have this image isn't some cunt who'd rented a lambo for a day or something?

>> No.132447

>>132434
He's also made a lot of drug dealers very angry.

>> No.132448

Everyone in the do/g/e threads are in the IRC drama channel also:
##mtgox-chat@freenode (that's two #s)

>> No.132449

>>132416

>i-i-ts going to be fine
>im going to be a b-billionaire any day now

>> No.132450

>>132417
Man, if this is fucking real it's really heavy.

They need 750000btc to cover their fucking debts.

Holy shit, Satoshi is going to have to come out of retirement to cover this one. I swear to god if we start seeing bitcoin days destroyed in the next few days I'm going to be seriously worried about the future of bitcoin. We will most certainly see a massive crash if this document proves to be real.

>> No.132455

>>132443
>the day they're failing
no fucking shit. most of the time they're not even in the top 5

>> No.132457

>>132434
Didn't their security fuck up a few years ago bring the value down to near 0?

>I said to myself: It'll never get to $30 again :(

>> No.132459

>>132449
I didn't say any of that.

but attacking bitcoin because an exchange fucked up is like saying fiat is pointless because a bank got robbed

>> No.132461

>>132450

>I'm going to be seriously worried

You're not worried now? Even after all the problems with Mt Gox and Silk Road 2.0?

>> No.132464

>>132443
>no huobi
>no okcoin
huobi's 24 hour is over 180,000 coins traded. more than mtgox -- the day MTGOX IS FAILING.

>> No.132465

>>132441

this board exists because the cyrpto shit threats were fucking up /g/

and if you don't like it, leave

>> No.132467

>>132459

The biggest exchange which trades 20-50% of all the currency on any given day is going to shit. Imagine losing 20-50% of the biggest banks.

>> No.132470

>>132467
they haven't been the biggest exchange or even in the top 3 for months.

>> No.132475

Got my coins out like a week before they ended withdrawals. Thank fukkk.

>> No.132477

>>132432
You're still up gamma?

>> No.132478

>>132450
>Holy shit, Satoshi is going to have to come out of retirement to cover this one

Good, maybe someone will out the gook and he'll be burned along with Mark

>> No.132480

>>132465
mc'fucking kill yourself

>> No.132482
File: 9 KB, 708x127, mtgox.png [View same] [iqdb] [saucenao] [google] [report]
132482

>>132417

lel mt gox is seriously insolvent.

>> No.132484

>>132470

One of* the biggest exchanges which trades 20-50% of all the currency on any given day is going to shit. Imagine losing 20-50% of the biggest banks.

Feel free to counter this rather than argue semantics.

>> No.132485
File: 22 KB, 306x295, laughinggirl-office.jpg [View same] [iqdb] [saucenao] [google] [report]
132485

>>132480
>he doesn't know /biz/ was created specifically because of dogecoin

>> No.132486

How low will Bitcoin go?

I want to buy up a few when it gets low. You guys think it'll bottom out at $200? Lower?

>> No.132492

>>132461
I'm not particularly worried about BTC as a whole I guess, it's just that the leaked document is saying that they only way they can cover their debts is to get whales to cover them.

>support from bitcoin players and the core community

So if they don't get that, it means that 750,000 btc are now loose in the economy. What that means is anyone's guess but the main thing to worry about is that it's 750K worth of pure market uncertainty. Are they in the hands of one group of people who are going to massively dump them the first chance they get? Are they lost forever? At least the FBI coins are public knowledge, right?

This is all just up in the fucking air right now and that's bad for pricing certainty.

>> No.132498

>>132484

That wasn't me,

anyway. The point of my original post was to state that bitcoin is/was NOT a scam.

So yes, it sucks that mt Gox was such a colossal fuckup. It doesn't change the fact that crypto/bitcoin is a revolutionary technology.

>> No.132499
File: 59 KB, 255x255, 1332402514178.png [View same] [iqdb] [saucenao] [google] [report]
132499

>stealing all the buttcoins
>now buttcoins aren't worth a thing

Sure, that's a good plan. I wonder who's shekels are behind this.

>> No.132501
File: 589 KB, 1668x1102, 1393303368477.png [View same] [iqdb] [saucenao] [google] [report]
132501

>>132484
are you retarded?

http://blogs.wsj.com/moneybeat/2014/02/20/bitbeat-does-bitcoin-really-need-the-winkdex/
>Mt. Gox may not be the number-one exchange anymore, but they’re still a big player.

pic related doesn't even include huobi which is the LARGEST FUCKING EXCHANGE.

>> No.132503

has anyone mentioned huobi yet, they really need more advertising

>> No.132504

>>132486

I honestly think it will bottom out before that. Too many high-rolling whales who can pump at will and prop up the market.

Although the problem is it may not be going up any time soon after because of how many newbie buyers were scared off. Then again, Greed is powerful. So maybe the greater fool will throw in his chips sooner rather than later.

>> No.132506

>>132492

>750K worth of pure market uncertainty

And which such a considerable % of coins in this 'volatile' state, how will Bitcoins ever be backed by major companies? The theory of it is great, but as it stands, Bitcoin has highlighted all the worries one would expect from a non-FIAT currency.

>> No.132508

i wonder if anyone has already put up a hit against mtgox for fucking up their wealth

i mean there are thousands of bitcoin richfags, right?

someone had to do it

lel what happens after the owner of mtjew dies?

>> No.132511

>>132477

Yea, I like to go cycling late at night. Like 11-12am.

>> No.132513
File: 56 KB, 1057x340, how low can it go.png [View same] [iqdb] [saucenao] [google] [report]
132513

http://www.youtube.com/watch?v=_-GaXa8tSBE

>> No.132516

>>132501

If we removed even 5% of a particular currency circulating and left it in this volatile state, then you can be sure as shit it will lose value. How fucking delusional are you to think otherwise?

>> No.132521

So who here actually had coins left on Mt Gox?

>> No.132522
File: 1014 KB, 3264x2448, kek.jpg [View same] [iqdb] [saucenao] [google] [report]
132522

>>132397

>filename is my reaction when gentiles trust their shekels with Mt. Goy.

>> No.132523

I just dropped a grand into 2 Bitcoins so... let's see what happens.

>> No.132526

>>132516
that has absolutely nothing to do with the statement that mtgox is not the #1 exchange.

>> No.132527
File: 134 KB, 529x568, 1393303666007.jpg [View same] [iqdb] [saucenao] [google] [report]
132527

If only it were easier to get dollas into exchanges.

The only reason that crashes are steep and rises are gradual is because it takes 5 to 9000 business days for people like me to get money order deposits processed by shits like CampBX.

>> No.132533

>>132521
I had 8 cents USD left over from years ago when dwolla was a viable option.

>> No.132536

>>132523

You're going to lose a lot of it.

I just want to be the first to tell you that if you don't sell now, you will lose more. Just... that's all. This has nowhere to go but down.

I was here first.

>> No.132537

The bitcoins exchanges need a pooled insurance scheme. Why would any business want to take on this mt gox type risk?

>> No.132538

>>132370

>the real monopoly money is the fiat federal reserve notes in your pocket

>> No.132542

>>132521
i dropped 1k into mt goyim early in 2011 and had 100 coins locked up that in ever bothered getting around to withdrawing. i'm a NEET fag and they represent pretty 100% of my net worth.

oh well.

>> No.132543
File: 44 KB, 612x457, 1332814402946.jpg [View same] [iqdb] [saucenao] [google] [report]
132543

>>132353

>> No.132544

>>132444
everyone is only 2 co-signers away from any car they want

>> No.132545

>>132526

And I ammended my comment to "one of the largest". Mt Gox is still a large player in the Bitcoin business. You may not be losing the biggest current player, but you're still losing one of the main ones, and one of the "historically" strong institutions..

>> No.132548

>>132508


Unfortunately I think there are enough dangerous scum out there, who were already mad at having their drug faucet SR2 being shut down and had their money in Mt. Gox, that it's a possibility.

>> No.132549

This is just the tip of the iceburg. We are just hearing about this, but imagine all those people who will wake up tomorrow and hear the news and panic sell. We'll probably see 400 by tomorrow afternoon.

>> No.132551

>>132523

Don't listen to them, anon. Buy and keep buying! You'll be a millionaire any minute now...

>> No.132552

>>132527

Yup. All by design. If it was easy than the federal reserve would be bankrupt by now.

>> No.132554
File: 371 KB, 800x600, lav1.jpg [View same] [iqdb] [saucenao] [google] [report]
132554

>>132511

Me too. You ride fixed? Pic related, it's my frame.

>> No.132558

Can gox be sued?

>> No.132561

>>132508
>lel what happens after the owner of mtjew dies?

Not shit if he's stepping down as CEO.

Guy's gonna have to live in a panic room for the rest of his days though.

>> No.132563

>>132542

You had nearly $100K worth and never considered to withdraw some?

>> No.132569

its genius. pure genius.

unregulated industry, take people's money and run.

based nippon

>> No.132573

Uh-oh

>Mt. Gox has confirmed it will file bankruptcy in private discussions with other members of the bitcoin community.

it's actually ogre guys

http://recode.net/2014/02/24/the-mt-gox-bitcoin-exchange-has-disappeared/

>> No.132580

>>132544
>>132444
http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

>> No.132583
File: 42 KB, 580x346, hey faggot it's happening.jpg [View same] [iqdb] [saucenao] [google] [report]
132583

>> No.132585
File: 83 KB, 640x427, bitcoin-scam.jpg [View same] [iqdb] [saucenao] [google] [report]
132585

>>132580
the funniest part was the /g/entooman didn't even test drive it and had no idea how to drive a lambo. he was asking /o/ for driving advice and /o/ was getting butthurt

>> No.132588

>>132569
That's the risk of the free market. Everyone who bought bit coins knew this was a possibility.

You don't need a nanny state to protect you from every bad guy in the world.

Sadly statist shills are going to exploit this to the max

>> No.132589

>yfw this causes DOGE to go to the moon

>> No.132596

>>132536
I did what you said... just sold... lost $100. Sucks, oh well... at least I didn't lose $1000!

>> No.132601

>>132580
>http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

now why would you buy a fucking car when cars depreciate the moment they hand over the keys

can you not transfer BTC for USD?

>> No.132603

>>132596
You'll feel fucking brilliant about it in 24 hours if/when this leaked document is generally accepted as true.

>> No.132607
File: 21 KB, 524x702, 1280073612.png [View same] [iqdb] [saucenao] [google] [report]
132607

Shit's going down fast.

>> No.132610

>>132601
It was meant to be a kind of advertisement. And the guy has a lot of bitcoins. And he pretty much bought it when bitcoin was worth the most, so he got quite the deal.

>> No.132612

>>132549

Good point. Tomorrow will tell the real story. All of this news broke relatively late in the day when the casual bitcoiners were probably not paying close attention.

Add on the fact that the status of the 750,000K stolen coins, which at the time we all found out about it would've been worth close to half a BILLION dollars, are not only un-accounted for but could be in the process of being sold RIGHT NOW, gives you a real crisis of confidence in the market unless you're a real true believer in crypto-currencies.

>> No.132613
File: 47 KB, 952x174, 1393304495858.png [View same] [iqdb] [saucenao] [google] [report]
132613

>>132601
because he probably cashed out millions of dollars and gave zero fucks?

/g/entoomen have been mining since 2010, when you could've made tens or even hundreds of bitcoin using a top-of-the-line vidya ATI card.
pic related

>> No.132614

>>132603
Nothing beats the anticipation and confirmation of an uncertainty swinging in your favor.

>> No.132616

>>132613
(tens or hundreds per DAY on a ATI 5970 at only the cost of electricity)

>> No.132618

>>132607
This is just doge coin doing a gravity assist to the moon

>> No.132621

Don't you have random blue board people to ban?

>> No.132622

>>132616

would it not make sense to mine the coins in a country where electricity is cheap?

>> No.132625

>>132612
>gives you a real crisis of confidence in the market unless you're a real true believer in crypto-currencies.

The problem is and always will be 3rd parties because there is zero accountability unless a trend of murders starts happening.

>> No.132628

>>132558
Probably not, if they keep existing and refuse to pay up, I guess you can, subject to whatever terms you agreed to when you sent the money. But if they declare bankruptcy and go into liquidation, the best you can do is put in a claim as an unsecured creditor with the administrator.

In reality though, they're just going to disappear.

>> No.132630

>>132385

I suspect that some mods go to SA. The first version of the much loved sticky on /fit/ was straight up copied and pasted from SA's fitness board for example.

>> No.132633

>>132622
yes, in the united states portland residential is like 7cents/kWh.

it didn't really matter in 2010. it was highly profitable no matter what even when bitcoin was under $0.10/BTC. you made tens/hundreds of BTC per day and could make $5 per day on an ATI video card if you wanted to sell it then. pretty much everyone ROIed their investment AT THE SELLING PRICE IN 2010 in under a month.

you see those DOGE threads? last month you could've paid off a brand new video card in under a month too... that's why people in those threads have like 30+ video cards.

>> No.132635
File: 149 KB, 506x201, BhS1fruCIAAUaK2.png-l.png [View same] [iqdb] [saucenao] [google] [report]
132635

>> No.132636

GETTING READY TO BUY SO HARD.

>> No.132637

its finally over, mt. goy is kill.

Time for a new age of prosperity in a gox-less 2014

>> No.132638
File: 100 KB, 960x541, Mt_Gox_CEO_Mark_Karpeles_Wide.jpg [View same] [iqdb] [saucenao] [google] [report]
132638

Trust Jews, they said. They're good with money, they said.

>> No.132640

>>132622
Fuck that, just mine on someone else's dime.

>> No.132641

>>132636
Same. Getting close to my buy point already.

>> No.132642

>>132630
that would be funny, because there was a semi-secret rizon channel /g/entoomen used to organize disinfo shilling on other sites (and sometimes on /g/ itself) to keep mining difficulty low.

the reasoning was, the more people that mined, the fewer BTC share of the pie you would get. i'm fairly certain /g/ lambo guy was in on the disinfo shilling on SA. it was glorious, they fell for it hook line and sinker (it helped that many of us were longtime goons too), and made it especially easy when they started producing their own content/websites/invasions.

>> No.132648

NOOOOOOOOOOOOOOOOOOO

>> No.132652

>>132648

what 'appen 'ere'?

>> No.132662

How many bitcoins did you lose today?

>> No.132664

>>132538
I dunno about that. I put two $5 federal reserve notes in my pocket this morning around 8:00. It's now 11:15 at night and ... oh hey look! They're still there!

>> No.132665

>>132554

>You ride fixed?

No, way too many hills where I live.

my bike, it's banged up though cause I got hit by a car riding it awhile back.

http://www.bicyclebluebook.com/searchlistingdetail.aspx?id=10634

>>132641

>Same. Getting close to my buy point already.

Cheap can get a whole lot cheaper.

>> No.132668

>>132379
I would rather support a money that is regulated by the forces of every person that uses it than the monopoly war bucks that you support.

>> No.132672
File: 26 KB, 300x230, Haha.jpg [View same] [iqdb] [saucenao] [google] [report]
132672

>>132642

Oh SA.

>> No.132673

But mtgox has everyone's private information. It seems like they'd know exactly who fucked them over.

>> No.132677
File: 10 KB, 480x360, 1392405414958.jpg [View same] [iqdb] [saucenao] [google] [report]
132677

https://bitcointalk.org/index.php?topic=485924.0

wolong is an angel compared to the mt.gox owners.

>> No.132680

>>132664
#rekt

>> No.132683

So what does this mean for the future of Bitcoin?

>> No.132685

can someone explain to me how this guy has scammed everyone and run off with the money?

say he has 750K in BTC .. how does he convert that to real life cash money, so he can go in to hiding?

>> No.132690

>>132677

(Read 120 times)

wonder how much traffic came from /biz/ lurkers

>> No.132691

>>132683
its uncertain, highly volatile, unregulated and makes little sense when thought about logically.

so nothing new.

>> No.132693

>>132685
he could buy gold with it

>> No.132694

>>132385
>>132385
>>132385

NOW IN ORANGE

>>>/g/40506073
>>>/g/40506073
>>>/g/40506073

>> No.132695

>>132635

lel

>> No.132696

>>132685
>>132693
wanst part of the point of bitcoins that you could trace them? they are all unique.

>> No.132697

>>132353
It is finished.

>> No.132699

>>132443
Where do you get such data? Mine is better.

http://www.cryptocoincharts.info/v2/markets/info

>> No.132701

>>132696
yeah but you could always buy gold from somewhere like china
the gooks could care less whos giving them money

>> No.132707

>>132561
>Guy's gonna have to live in a panic room for the rest of his days though

He will answer the phone with HOW DID YOU GET THIS NUMBER!?!? until he dies

>> No.132709

>>132683
Nothing. Everyone knew something like this would happen eventually. And now even more people are going to be looking to buy. So nothing is going to happen really. FED types will point at this and say "Ha! I told you Buttcoins were bad!", without realizing that the FED has done 10 times worse than this shit on a nearly generational basis--with everyone's money. So just wait. Bitcoins aren't going anywhere.

>> No.132717

>>132685
He doesn't have 750K BTC. His business lost 750K BTC from its customers due to how they tracked transactions on their site.

Basically someone discovered they could perform double withdrawals due to Gox's incompetence and eventually leaked their funds until they became insolvent. By the time Gox noticed the flaw it was already too late.

Now they are in a massive hole and can't payout their customers who wish to take out money or BTC because they don't have them.

>> No.132722

>>132717

so why not just declare bankruptcy? why is he hiding from everyone?

>> No.132723

>>132377
Fucking beautiful.

>> No.132725

>>132722
he's afraid some of the depositors will pursue "extralegal justice"

>> No.132726

>>132717
>someone discovered they could perform double withdrawals due to Gox's incompetence

can i get a source for this? ive never heard that happened. not that i dont believe you, just want to read more

>> No.132727

>>132722
A lot of people just lost a lot of money. He would want to hide while he deals with this in private legal courts.

>> No.132730
File: 131 KB, 816x640, BhSZ3fcCQAE09fB.png-l.png [View same] [iqdb] [saucenao] [google] [report]
132730

This is the table that was redacted in the leaked pdf.

>> No.132731

lol Bernie Madoff with my money

>> No.132736

HOW THE FUCK DO I GET CASH INTO AN EXCHANGE WITHOUT GOING THROUGH SHADY RUSSIAN OR MONEY ORDER DEALS? I NEED TO BE READY TO BUY SHITCOINS AT PENNIES ON THE DOLLAR

>> No.132737
File: 2 KB, 125x86, DORGAN.jpg [View same] [iqdb] [saucenao] [google] [report]
132737

You know why there isn't such a thing as widely used private currency /biz/? Sovereignty. Sovereignty allows governments to protect their populace and their machinations through force.

If someone tries to fuck up a state's currency, or steal it, or manipulate it beyond an acceptable level, that state can use the rule of law to punish those accountable and prevent such activity to happen again. If another state tries to usurp a state's currency, it can declare war and do whatever is necessary to protect the security and value of their own currency.

Businesses aren't sovereign. They can have all the wealth in the world, but ultimately their wealth is only possible due to the security of value offered by their or other state's currency. If they try to use their own currency but have no sovereignty or power to protect it, it will hold no true value.

This is why you shouldn't use cryptocurrency, because companies like Mt. Gox can't protect the value of the currency they trade in. It is the most nominal means of exchange imaginable, truly monopoly money. So unless dogecoin has some Abrams tanks to blow eleet hackorz scaming their currency the fuck out, invest in something real. Like Zinc or something.

>> No.132738

>>132730
>income statement
>no balance sheet
hahahahahahaha oh wow

>> No.132743

>>132726
Look up transaction malleability for more

http://finance.fortune.cnn.com/2014/02/21/bitcoin-transaction-malleability/

>> No.132744

>>132545
Mt. Gox was the first ever bitcoin exchange. It became the de facto pricing index used by all of the media simply for that reason. No saavy bitcoiners had any money in there since 2012.

>>132549
Price already stabilizing. Cryptpo doesn't run much in 9-5 patterns. The slightest rumor of possible news gets around in minutes, especially anything regarding Gox at the moment since they are failing.

>> No.132746

>>132725
>>132727

i'd have thought that, with the internet, knowledge of this double withdrawals scam would spread like wildfire?

how the fuck was it the largest trading platform - something sounds misplaced.

>> No.132748

>>132737
This times a thousand.

This seconding motion is coming from somebody working on a venture involving bitcoins. As they come in, I am IMMEDIATELY cashing out.

>> No.132749

>>132736
shill out you kike
just go to btce

>> No.132750

>>132707
You don't know the psychology of fraud victims, most pretty much never advanced from denial stage.
>i'm sure he's a nice guy. As long as he's still involved, there's still a chance he'll give us back our money.
That is what most fraud and scam victims' thought, not just this case only.

>> No.132755
File: 23 KB, 125x133, anime wins yet again.png [View same] [iqdb] [saucenao] [google] [report]
132755

Good thing i bought 30,000$ worth of Neptunes

Cashing
Out
Right
Now
At
900$/Bitcoin

Feels
Fucking
Good

>> No.132757

>>132746
nothing is as it seems in bitcoin.

you can never be too paranoid.

don't assume the representatives of the organizations are who they are.

>> No.132758

>>132731
lol more like EMPTY Gox amirite?

>> No.132759

can someone give me a tl;dr?

>> No.132760

>>132554
Whoa, are you that pretty boy who rides around the UW with a big chain on your shoulder? Every time I see you it just reminds me how great your life is right now and shitty it will be in ten years time.

>> No.132761
File: 647 KB, 1013x825, 1393131160917.jpg [View same] [iqdb] [saucenao] [google] [report]
132761

>>132583

BTC is kill

>> No.132762

>>132748
>a venture involving bitcoins
funding the Akron Buyers Club?

>>132737
>unless dogecoin has some Abrams tanks
Can't be any harder than sending island coons to Sochi

>> No.132763

>750,000 stolen coins
[citation needed]

>> No.132767

>>132763
nobody knows for sure how much, we're all going off the scribd doc.

the interesting thing is the doc predicted them halting trading and buying gox.com

>> No.132769
File: 42 KB, 938x425, sarahbittcoin.png [View same] [iqdb] [saucenao] [google] [report]
132769

toppest of keks

>> No.132771
File: 19 KB, 512x512, 1393306702300.png [View same] [iqdb] [saucenao] [google] [report]
132771

Look at TF2 jews, they've used magical meaningless unregulated digital items as currency for years with practically no problems.

these worked because of the limited quantity and the digital convenience

>> No.132773

OH WOW THIS IS SUCH BAD NEWS. THOSE PEOPLE WILL NEVER GET THEIR MONEY.

IF ONLY THERE HAD BEEN REGULATION IN PLACE TO PREVENT SOMETHING LIKE THIS...

>> No.132776

>>132771
except valve can print as many headphones and keys as they want. that's not possible with bitcoin.

>> No.132777

>>132769
explain who she is so i can enjoy the full keks plz

>> No.132778

>>132527

Why not use http://coinbase.com ? Get it verified, do a purchase (of any size), wait a month, $1,000/week of instant buying power. In the interim, $100/week of instant buying power. These aren't really high limits, but most people around here probably don't spend $1,000/week on BTC. You'll typically wait 30 minutes for it to transfer to another exchange (I use Bitfinex). So, there's a bit of slippage possible.

>> No.132780
File: 72 KB, 267x186, 13913043056762.png [View same] [iqdb] [saucenao] [google] [report]
132780

>>132769

>> No.132781

>>132767
>>132763
>beleiving fake FUD documents

loving

every

lel

>> No.132782
File: 36 KB, 569x447, 1351805725976.jpg [View same] [iqdb] [saucenao] [google] [report]
132782

>55 MILLION DOLLARS IN BUTTCOINS MISSING

ITS FUCKIGN OGRE MAN

>> No.132783

>>132760

Hmmm depends what you mean by UW.

What makes you say that anyway, why does that guy give off that impression?

>> No.132785

>>132759
I didn't read it either but basically Gox lost 750k BTC, they say sorry man, send me money and I will pay my customers back, Bitcoin is supposed to be doomed now, because so many people lost money, it hurts the economy

I think its bad times, but not doomed

>> No.132790

Meanwhile I made a cool 750 bucks today off my stake in Tesla.

Invest in a company that makes something. Works for me.

>> No.132791

>>132769

context motherfucker.

do you have it?

>>132761

'no'

>> No.132792

>>132385
>>132672
>>132642
>>132630

this

SA got burned fucking hard

they deserved it too

>> No.132797
File: 160 KB, 599x602, 1384132550902.png [View same] [iqdb] [saucenao] [google] [report]
132797

Apology for poor english

Where were you when bitcoin dies?

I was at home sat on couch when Mark Karpele ring

"Mt gox is kill"

"No"

and you?

>> No.132798

>>132664
yeah, and they are worth less money now. In fact, they will never go up in value no matter what. Sounds good, right?

>> No.132799

>>132737
>it will hold no true value.

False. Bitcoins ability to be worth even $100 proves you wrong.

>> No.132802

>>132790

you didn't really make the money until you sell the stock. You also have to account for inflation wile you were waiting

>> No.132803

>>132771
>unregulated
Valve is the government or regulators in TF2. They can shower you with copies of digital items or declare that your shit is duped and erased it without your consent. That's the digital world's equivalent of Abram tanks.

>> No.132804
File: 198 KB, 550x413, 1393306980162.png [View same] [iqdb] [saucenao] [google] [report]
132804

Holy shit, Just how deluded are these retards?

People are buying Bitcoins at the moment, even though media is going to fucking kill it in the coming days. Especially if Gox really doesn't have any money.

They don't seem to realize that if general public is scared away, there's going to be no new money coming into this game.
Also they seem to think that people who lost money @ Gox are just going to have to buy new coins.
Fucking hell..

It's like talking to a religious zealot and trying to get him to realize that earth isn't 6000 years old.

Fuck these prices, BTC needs to come down to a reasonable level and grow from there, slow and steady.

>> No.132806
File: 737 KB, 499x281, mfw.gif [View same] [iqdb] [saucenao] [google] [report]
132806

>>132353
>mfw
>my fucking face
>oh god the delicious tears
>i can almost taste them

>> No.132808

>>132683

short term? fearfags dumping due to fear 'zomg we goin to 0 nigz' FUD

medium term? bounce back to 1k just like after silk road scandal and china crackdown

long term? moon landing

The repurcussions of Gox are laughable at best. Anyone with a shred of common sense already knew this was coming. The panic sell will be short and sweet, and epic buying opportunity for aforementioned lunar colonization.

>> No.132809

>>132760

Sounds like this guy is great looking and you're a fat ugly jealous NEET. Does he go out with the girl you have a crush on?

>> No.132810
File: 87 KB, 346x407, Shinji2.jpg [View same] [iqdb] [saucenao] [google] [report]
132810

>literally unsourced scribd document, aka /b/ tier ""information""

>people believe it

>> No.132811

>>132353
May you rest in peace, Bit Coin.
Glad to be a part of history. It's been an honor to watch everyone who invested in Bit Coin sink with their ship as we toast from the coast.

>> No.132817

>>132589
>mfw Doge get's shit on and so do all cryptocoins, because they're shit.

Hahaha, It's gonna be a bright, bright
bright
bright sunshiny day!

>> No.132820
File: 415 KB, 680x475, 16.png [View same] [iqdb] [saucenao] [google] [report]
132820

how many coins did you lose?

>> No.132821

>>132513
Reminder this is an SA Meme.

>> No.132823
File: 186 KB, 457x303, impressive.png [View same] [iqdb] [saucenao] [google] [report]
132823

>>132353
>http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
>Moving to a new country (Singapore?) could be helpful.

Oh fuck my sides weren't ready for that

>> No.132825

>Typically, cold wallets are disconnected from any type of internet connection and cannot be emptied by online attackers. However, the “cold storage has been wiped out due to a leak in the hot wallet,” the document states.

You all just got inside jobbed.

>> No.132826

>>132785
So really, a ton of people lost a ton of bitcoins, about 750k BTC in total?
Damn..

>> No.132827

>>132804

the media isn't really going notice because the people that lose money on gox are degenerate gamblers

I'm not saying that is why they are or that that is not what I am, I am saying that ultimately the consensus won't be able to form any other conclusion

It's not like Mt Gox had a good reputation it was just a fun place to gamble

>> No.132828

>>132808

keep dreamin' bitch nigga

>> No.132831

>>132827
mtgox even lost the degenerate momo gamblers in the past couple months. they all moved to bitfinex

>> No.132832

>>132802

>one month's worth of inflation

lel

also am I the only one who sees potential for a huge gambit here?

look:

MtGox or whatever it's called declares insolvency due to a large number of coins 'missing' out of its reserves. The missing coins currently have a sizable value because the price of Bitcoin is high.

But due to the collapse of MtGox, confidence in Bitcoin plummets, driving the value into the ground.

The owner or whoever of MtGox then injects actual liquidity into his company to repurchase coins at a much lower price point from other holders, and subsequently returns them to their owners for a fraction of their current value, effectively blocking extra-legal action and erasing his liability-sheet

and fuck am I stoned right now

>> No.132835

>>132737
Gold.

Your argument destroyed in a single morpheme.

>> No.132836

>>132826
that's the rumor,

remember the wall street adage, buy the rumor, sell the news.

It will probably turn out to be a lot rosier than this

>> No.132838

>>132798
>they will never go up in value no matter what
Yeah, and crypto's doin' great.

I can take my 2 $5 federal reserve notes and hop down to the corner store and buy a pack of smokes and a pint of vodka.

What can you do with your crypto currency with such convenience?

>> No.132840

MODS, PLEASE MAKE BOARD THEME WHILE WE WATCH THE SPIRAL DOWNWARDS

http://www.youtube.com/watch?v=XVekJTmtwqM

>> No.132846

>>132737
Who "protects" the value of gold?

checkmate.jpg

inb4 muh real objects

>> No.132847

>>132709
>Crashing atm
I might invest like 50$ at the low point

>> No.132850

>>132498
>It doesn't change the fact that crypto/bitcoin is a revolutionary technology.

So was Betamax.

>> No.132851 [DELETED] 

R E M I N D E R
E
M
E
M
B
E
R

M T G O X
T
G
O
X

H A S
A
S

B E E N
E
E
N


DIRECTLY
RESPONSIBLE
FOR
MARKET
MANIPULATING

BITCOIN

FROM

1$
TO
1200$

WITHOUT
GOX

IT
NEVER
GETS
PAST
10$

WITHOUT

GOX
Y

O

U

R


C

O

I
N

S
A

R


E
W
O

R

T

H

L


E

S

S

>> No.132852

>>132737
I'd rather have chaos in control than people. It's more fair.
>le edgy joker speech

>> No.132854

>>132630
The creator is associated with SomethingAwful and Reddit SRS. I don't have the documentation on me right now, but at some point I screencapped them talking about it on SRS.

>> No.132859
File: 34 KB, 545x365, barings.jpg [View same] [iqdb] [saucenao] [google] [report]
132859

>>132823

yea cos singapore look after people who make banks fold

10 points to anyone who gets this image

>> No.132860

>>132850
Pleb consumers went to VHS. Industry professionals stuck with Beta.

>> No.132861

>>132485
>Doge fags are still acting smug when they know their hobby is going to shit
At least now I can buy a fucking graphics card for, you know, graphics.

>> No.132863

http://www.youtube.com/watch?v=v6ziKuWe5BE&feature=kp

>> No.132868

>>132854
It's incredibly obvious to anyone who isn't retarded and has spent 5 minutes on the internet following any of these communities

SRS/SA are bitter as fuck because they were laughing at 'dumb libertarians' who bought bitcoin at 0.10$, at 2$, at 100$, at 262$, etc ;^)

>> No.132869

I'm laughing at all you pathetic fucks who actually invest in this crypto non-sense. You got what you deserve.

>> No.132870

>>132861
you're going to be able to buy a graphics card real soon for crazy cheap, but not because of the price of coins going down -- they're still highly profitable to mine.

when high-end nvidia maxlel cards come out, all the scrypt miners will be switching over due to their efficiency.

>> No.132871

> <+Lasseter> All the staff were fired today. They probably just switched off the servers on the way out.

>> No.132873

>>132416
>exchange != currency

That's okay because bitcoin != currency either.

>> No.132874

>>132810
except mt goyim followed their predictions a literal tee within a half an hour of the document being leaked

>> No.132875

>>132799
I don't think you understand. What guarantees that value, exactly? What ensures that cryptocurrency will maintain a value period? It has no intrinsic value, so its nominal like fiat money. But unlike fiat money, its not backed by a government that can physically, forcefully ensure its value is enforced. Its value is only guaranteed by the legitimacy and security of the few exchanges that trade in it, which we learned tonight is worth shit.

>> No.132876

>>132737
you do realize there will be decentralized exchanges, rite?

make sure to pay attention don;t want to see you peasant out on us in old age

>> No.132878
File: 205 KB, 640x480, 1392163101520.jpg [View same] [iqdb] [saucenao] [google] [report]
132878

>>132827

It's irrelevant where it happened. Gox,Stamp,Btc-e whatever.
Media has been calling BTC a ponzi scheme for quite some time and now.
If "the largest no.1 exchange" goes under and basically takes the money and runs, they are going to have a fucking field day with this.
It's going to confirm every negative statement they have given so far.

Also normal people who aren't into BTC have changed their views about it during the last year.
I've talked with quite a few and they went from "Well that's interesting" to "Well it's just going to crash and it's unstable as hell, not going to buy it. You'll just lose your money!"

That to me is a sign that people are being scared away from it and this sure as hell isn't making things any better.

>>132851

Nice way to write that you dickhole, but I agree.

The price was manipulated to those crazy unsustainable heights, and it's going to fall to nothing, or at least to what others consider nothing.
I still think that + 300$ BTC is pretty damn good for something you can barely even use.

>> No.132881
File: 90 KB, 1620x683, Capture.png [View same] [iqdb] [saucenao] [google] [report]
132881

>>132854
butterfly labs owns it now

>> No.132882
File: 8 KB, 226x397, Ryan.jpg [View same] [iqdb] [saucenao] [google] [report]
132882

It's an unregulated market. Sometimes things go out of business. Sometimes you lose money. This is what happens without nanny state coddling. Frankly I think it's a good thing. Fail fast and fail quick.

>> No.132885

>>132868
Just found the name, the name is Killhamster.

https://twitter.com/killhamster

>> No.132887

>>132832

can anyone with more knowledge tell me if this is a viable idea or not?

i feel like i'm missing something

>> No.132888
File: 29 KB, 470x264, Vouch-for-satisfaction.jpg [View same] [iqdb] [saucenao] [google] [report]
132888

>mfw when toasting new bread in 1 month when btc back to 700+, as usual

>grampa /pol/fags revert focus back to throw- rock-at-tank' rally cries against big brother and 'mah oppreshunz'

>> No.132892

>>132783
He just pisses me off in the same way lots of people get pissed off by the Winklevoss twins. I just can't stand him, but I actually think the Winklevoss twins are decent people who got shat all over in Mark Schmuckerberg's movie that was actually just a stupid commercial.

>> No.132894

>>132777
This pls.

>> No.132895
File: 463 KB, 245x141, what-i-expected.gif [View same] [iqdb] [saucenao] [google] [report]
132895

Anyone who didn't buy KNC Neptunes with the "Refund given in USD At the BTC You Buy In/Lock In At" Is A Complete Retard

What did you expect faggots? Did you seriously think bitcoin over 1$ wasn't a complete scam driven by muh gox?

NEWSFLASH: GOX WAS ALWAYS THE SECRET ONE PUMPING THE PRICE, WITHOUT THEM, THERE IS NO BITCOIN.

>> No.132899

>>132892
having met the twins at a bitcoin conference in real life, i have to say they're kind of odd people. they seem nice and well intentioned though.

>> No.132901

>>132875
Nothing "guarantees" that value. That's the point. That's the thing you statists don't understand" there need not be a guarantee of value so long as people have faith it is valuable.

>> No.132902
File: 7 KB, 275x183, hehehe.jpg [View same] [iqdb] [saucenao] [google] [report]
132902

>>132835
>>132846

8/10

>> No.132906

>>132797
You realize that picture implies that the price will not collapse like a bubble, right? So funny when it was posted here last year and everybody was saying we would see it drop to below $200 for sure.

>> No.132908

>>132901
>>132901
>there need not be a guarantee of value so long as people have faith it is valuable.

That explains the current, stable situation

>> No.132913

>>132906
the
>it's happening
crash stickies were pretty consistent indicators of bottoms :^)

>> No.132918

>>132901
I want something more substantial than faith. If faith were enough, I'd accept Jesus and go wander the world in a robe with a Bible.

The federal reserve notes in my pocket have something BTC doesn't: legislation. It is illegal - yes, illegal - for an American business to refuse American currency. They HAVE to take my money even if they think it's worthless. BTC has no such guarantee.

>> No.132920

>>132859
Nick fucking Leeson

>> No.132925

aww shit my /biz/antynes, opportunity knocks for those of us who missed the train the first time

when should I buy in goyim?

>> No.132926

>>132809
No, I saw him talking to a 5/10 the other day. Only seen him maybe three times in my laugh while he is riding his bike.

>> No.132927

>>132887

hmm no seems plausible

>> No.132928

>>132918
>what is inflation
load of good that currency does you xD too bad the state doesn't mandate prices too ;^)

>> No.132929

>>132875
the value is the network itself, a simple public ledger

When you buy a bitcoin you are paying to host and secure the network. Do you really expect people to do that service for you for free? Why?

To answer your question, there is nothing "backing" the currency. But their is nothing "backing" the gold price either, people pay just whatever they are willing to pay for it.

I am a goldbug, and a little bewildered by bitcoin, but after taking a step back denying that bitcoin is money right now in 2014 is a serious denial issue.

>> No.132930

And this friends, is why you don't store your money in a supposedly *secure* online wallet.

Seriously, Bitcoin is a fucking flawed concept.

(I know this is about the exchange, but the currency itself is just batshit insane)

>> No.132932

>>132353
top kek

So many neckbeards fell for this bullshit. Same thing with dogecoin and all the other coins. Pure ponzi shit.

>> No.132935

>>132925
localbitcoins

>> No.132936

>>132895

how? i'd have thought the price went up when more establishments started accepting them as payment

>> No.132941

$1000 coins by Friday, you heard it here first!

>> No.132944

>>132941
Ur gun get fukt

>> No.132952

>>132920

You get 10 points sir!

>> No.132954

>>132928
I'd take a highly inflated dollar vs. a worthless bitcoin any day.

At least I can exchange the inflated dollar for goods and services. All I can exchange BTC for is ... well ... more BTC.

>> No.132955
File: 139 KB, 1600x922, happening.jpg [View same] [iqdb] [saucenao] [google] [report]
132955

[happening intensifies]

>2:20 PM Tokyo

News of Mt Gox insolvency hit a boiling point
BITCOIN PLUMMETS TO 485.55

>5:15 AM London

Mt Gox Crisis strategy draft hits 44,000 views
Early birds from London wake to hear the news and SELL
BITCOIN hits a new record LOW of 466.01

>1:06 AM, New York

Panic spreads to NY hour past midnight, alarm bells ring, everyone tries to get out before the nation wakes to hear the horror

>> No.132958

>>132955
Wait, how can it be a record low when the coin began last year at less than twenty bucks?

>> No.132959

>>132887

that is basically the same basic theme that has been reguiritated about the last month

basically my take is that, far from being and evil mastermind, most likely Gox got hacked, hopefully not as bad as everyone thinks

your theory does require all the market participants being played like fools, not impossible, but to me its unlikely

>> No.132961

Mt. Goy is dead
>On 24 February 2014, Mt. Gox's website and Twitter feed were deleted, and internal documents leaked to media reveal that nearly 750,000 bitcoins worth $350 million have been stolen or misappropriated from the exchange

lel

>> No.132965

>>132958

Record low for 2014.

>> No.132967

WHY DID ANYONE TRUST MARK KIKEPELES IN THE FIRST PLACE!

ONCE AGAIN, SOMETHING BEAUTIFUL WAS DESTROYED BY THE GREED OF A FUCKING JEW!

>> No.132968

Black Monday

Nevar4Get

>> No.132972

>>132929
No. At the end of the day Gold is still a material, useful in manufacturing processes, with chemical stability and rare.

Bitcoin is a manufactured concept. Altcoins are fucking worse, as there's nothing stopping me or tits mcgee or Kanye from making a shitcoin.

I think gold is stupid, as a hedge, as a physical "lookee", and as an "investment". At the end of the day though, it fucking actually can be used for something useful.

>> No.132975
File: 72 KB, 362x332, 1364088099093.jpg [View same] [iqdb] [saucenao] [google] [report]
132975

This coin isn't sustainable because if you lose your private key those coins go out of circulation forever.

Watch out for the first currency to use your genetic code as a key. It's going to happen.

>> No.132976

>>132959

And deleted their twitter? Nice try Schlomo

>> No.132978
File: 1.78 MB, 320x237, toomuch.gif [View same] [iqdb] [saucenao] [google] [report]
132978

>>132952
Thanks bro

>> No.132981

>>132975
>i have no idea what i'm talking about
so someone can steal your money when they get a piece of your hair?

>> No.132982

>>132959

apparently the DHS is involved as well

http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now

>> No.132987

>>132353

the redacted slide http://imgur.com/r/Bitcoin/8YbVJTc

>> No.132990

>>132965
Then that's a shitty measure of a record.

>> No.132993

>>132955
>Margin Call

My nigga with good taste

>> No.132995

>>132838
I actually just sent over two grand to a friend who lived thousands of miles away. It was the fastest and easiest money transfer I have ever done by far. Will never use any other service for that from now on.

>> No.132997

>>132978

NP. I read his book while on holiday in Turkey last summer.

>> No.133000

>>132995

Can do the same shit with PayPal.

>> No.133004

>>132975

W-what would be the purpose of that? There's no reason for that to come about.

>> No.133007

>>132976
Did you not check their twitter?

>> No.133009
File: 63 KB, 357x305, ca1517.png [View same] [iqdb] [saucenao] [google] [report]
133009

with all these missing coins, will the price of the remaining ones rise?

>> No.133010

>>132995
That's because you don't live in England. Blame our banks for that one.

http://www.npr.org/blogs/money/2013/10/04/229224964/episode-489-the-invisible-plumbing-of-our-economy

>> No.133012

>>132804
>Holy shit, Just how deluded are these retards?

I've never paid attention to the shitcoins, but I've watched pump&dumps on stock message boards before. There's always someone, usually the big swinging dick that's LONG & STRONG BABY, who keeps beating the drum while quietly cashing out. If it's timed correctly, he's sold his entire position by the time everyone else realizes they've been taken for a ride.

So you're seeing shit about people buying right now, whether they are or not, that's the message that the people holding the bag right now want out there.

>> No.133013

>>132929

Gold has thousands of years of history backing it up.
Also it has some real life uses, in tech and such.

Bitcoin is unsafe as fuck, and there are no laws governing it.
It's backed up by wild retard level speculation and traded by panicky teenagers.
If you fuck up a transaction, it's gone.
If BTC gets stolen or hacked, well tough luck.
It has very little real life adoption and it's also slow as hell, that's if you are going to use it in a store or something.


It isn't a currency, and probably only 1% of people are treating it as such. And most of those guys are "destroy the governments, hang the bankers! People are going to buy BTC when economy collapses. You'll see!!"

Only reason why it has such a fuckhuge following is the get rich quick aspect.
I've been playing with it for a year now and made about 20x profit, but I have very little faith in it.
It can be snuffed out way too easily, also the price atm is downright crazy.
Only reason why we went over 250$ was China, and they said no. Russia said no, and few other shitholes banned it too, and we are still this damn high?
Yeah no.

Unsustainable and uncertain.
This is no real currency, it's a gamble and most people are going to get burned hard.
Mostly the "40k$ this year! To the moon" idiots.

>> No.133016

>>132929
Well, Gold is different because it has real value. It is a precious metal that can be used for electronic components, jewelry, the construction of alloys, etc. This was originally what made the gold standard an attractive means of anchoring the value of a currency, Gold is a good that always the same, and has an inherently high real value; it's pretty useful.

I understand the concept of cryptocurrency and how it supports itself, and your'e right in saying that to disregard it as a form of money is misguided. However, its value and ability to maintain value doesn't appear to be very robust as the network is susceptible to human error on a large scale

>> No.133017

>>132954
you are believing your own BS,

there are plenty of things you can buy with bitcoin, and the investment projects like ethereum are so much more interesting than anything I can speculate on with dollars

>> No.133019

450.00

HAPPENING

>> No.133026

>>132958

its five years old dude

>> No.133030

>>132941
How many BTC do you have to unload? Be honest.

>> No.133031
File: 74 KB, 1160x493, bitcoin-dead-jun-2011.png [View same] [iqdb] [saucenao] [google] [report]
133031

in the last year:
>bitcoin goes up 40x. that's 40 TIMES.
>gold drops 25%

>all the gold bugs gloating in this thread
toppest of keks

>> No.133033

Can someone just explain what happened with the 750k of Bitcoin? Mt.Gox stole them or someone else stole them or what?

>> No.133035

>>133013
>there are no laws governing it.
that's not exactly true. a lot of dudes who believed that are in jail now

>> No.133038

>>133033
http://www.youtube.com/watch?v=fq3abPnEEGE

>> No.133040

>>133016
>gold has value because muh electronics and alloys

But
That's
Wrong

IF gold were valued on it's OBJECTIVE ELECTRONIC VALUE it would be less than 1/100th the current price

Gold Has Value Because It's A Hedge Against Fiat

>> No.133043

>>133009
No you fucking stupid fethwipe. This just proves that everything you thought was bad about cryptocoins is worse. The exchanges are shitty, the transactions to get actual money out dubious, the libertards "muh crypto" don't understand that the government is still watching.

It's fucking going down. There might be some ashes, and some hipsters, but mainstream media will cover this tomorrow with glee, and normal fags will never touch it(plus, it was too much of a pain in the ass for them anyways).

Investor fags discounted it.
Normalfags don't want it.
and soon, even /autists/ will cry about their losses.

>> No.133050

>>133016
Bzzzzzzzzzzzztttttttttttttttttt

Wrong

Gold Is Less Useful Than Copper.

Gold IS NOT VALUED for it's "Usefulness"

It's VALUED because it is SCARCE and DIVISIBLE and CANNOT BE FORGED.

>> No.133051

>>133009
That depends entirely on how many people cash out in a complete panic over this. If a metric fuckton of people panic and cash out in the next 24h, Bitcoin is going to crash hard and fast, and everyone buying now thinking they're getting in on a sweet deal are going to be out hundreds or thousands because they assume that what goes down must always come back up, flying completely in the face of logic. Just because Bitcoin is practically backwards of actual currency does not mean its economy is also completely backwards.

If 750,000 coin disappears from the public trade sector of BTC's market, but 2,000,000 shows up over the next 24h being sold off in a panic, that's 1,250,000 coins MORE on the public market than before this collapse, meaning the price per coin is going to get driven down very harshly.

It depends on just how badly people panic in the next 24 hours.

>> No.133053

>>133019

440.1

FMP

>> No.133056

>>132995
>I actually just sent over two grand
>I mean 1,999
>1,998
>1,997

>> No.133058

http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

>> No.133063

>>133038
>SA memes out in full force

Wow, what are the odds if i check GBS right now they're directing people to 4chan?

Pretty damn high seeing as their games forum was invading /vg/ over TwitchPlaysPokemon

Goons seem pretty butthurt recently.

>> No.133068

The only thing that could make this whole thing better is if Mark was assassinated by a guy who accepted his payment in bitcoin. It'd be fucking poetic. It'd be fucking Tarantino level poetic. My sides would never return.

>> No.133071

>>132972
>not finding the bitcoin network useful

>not finding it more useful than gold, when you admit you don't even like gold

>k

>> No.133072

>>133040
I think you mean gold has value OVER AND ABOVE IT'S ACTUAL VALUE(which it -HAS-), due to market sentiment.

Gold is not a hedge against fiat. It's not a hedge against inflation

>> No.133073

>>133040
well, its definitely overvalued. Frankly investing in gold like people do is idiotic, and is more than anything a hold back of old financial wisdom that was relevant before we got off the GS. I was trying to make a larger point about real vs nominal value

>> No.133074
File: 54 KB, 400x281, servesyourightyoutrustedajew.jpg [View same] [iqdb] [saucenao] [google] [report]
133074

cryptocoin?

more like crypokike

can the keks even get any topper?

>> No.133075

>>133043
Why all the fud?

You mad bro?

>> No.133079

Wait.

They stole $750million?

I never knew it got that big.

>> No.133081

>>133031
In the last year:
>0 ounces of gold on the exchanges unaccounted for
>750,000 missing BTC from negligence
>BTC crash from $1,200 to $150 on Mt Gox, and most likely, people "holding" BTC in Gox will get a big cut to their principal balances.
>BTC down 30% in a DAY on REAL exchanges.

Damn, GoxCoins sure were a good investment, you sure showed me!

>> No.133082

>Spending REAL FUCKING MONEY on FAKE COMPUTER DATA

NICE GOING FATASSES

>> No.133088

>>133072
>IT'S ACTUAL VALUE
top kek

statist SRS/Tumblur liberals LOVE to spew this shit

>bb--b-but the 'true value' is what ***I*** AND ***PEOPLE LIKE ME*** THINK IT'S WORTH

NEWS

FLASH

TRUE VALUE = WHAT THE MARKET PRICE IS

>> No.133089

Question for someone who doesn't know much about cryptocurrencies:
Did everyone currently holding Bitcoins from Mt Gox lose all of them?

>> No.133092

>>133075
meanwhile, xrp toils away silently for this shitstorm to brew over. I give it a year, maybe two at most.

>> No.133093

>>133000
depending on your jurisdiction and if paypal deems your activity to be legitimate

>> No.133094

>>133082
>real money
Ahahahahaha

>> No.133095

Tulips didn't disappear when the prices collapsed.

But then again they actually have value because they look pretty. Cryptocoins don't even have that going for them.

>> No.133098

>>133089
see>>133058

the debts outweigh the holdings

>> No.133099

>>133081
>i bought gold from glenn beck why did i lose all my monies
yeah, no.

>> No.133100
File: 23 KB, 337x372, 1393184636312.jpg [View same] [iqdb] [saucenao] [google] [report]
133100

>>133031

>tfw bought 1 bitcoin earlier today for 573 bernankecoins thinking the same thing
>wont arrive til friday
>it could be worth 10x less by the time it gets to my wallet

>> No.133103

>>133072
>Gold is not a hedge against fiat. It's not a hedge against inflation

The Market. Disagrees

History. Disagrees

Logic. Disagrees.

>> No.133107

>>132925
I would buy right now. The price might go lower, sure, but the upside from here is just insanely high. By this time next year we will all either be laughing at how we got scared for no reason cause Gox or trying to find ways to make money other than bitcoin.

>> No.133108

>this thread
so many goons literally from SA salty they couldn't make a profit :^)

>> No.133109

>>133089
If you have bitcoins in mt.gox, they're probably gone. If you got them out, good for you.

>> No.133117

Magic The Gathering Online eXchange

They magicked away all ur crypto-cyber-libertarian dreams, gathering cash all the while.

>> No.133118

>>133092
XRP is already dead.

jed left, the CEO is a complete fucking loon, the only developer left is stefan, their daily trading volume is way lower than shitcoins. even BBQcoin sometimes does more trading volume than ripple.

>> No.133120

Mods need to play this song on loop
http://www.youtube.com/watch?v=Fw5acgqIHQE

>> No.133122
File: 67 KB, 720x482, stages_bubble.png [View same] [iqdb] [saucenao] [google] [report]
133122

HAHAHAH It's diving below the point of last crash.

Die you fucker.

>> No.133126
File: 30 KB, 623x632, Capture.jpg [View same] [iqdb] [saucenao] [google] [report]
133126

badumm tshh q darude

439 GET

>> No.133132

Sub-400 soon

>> No.133135

>>132908
Yes, go ahead and explain how some cryptocurrency is worth hundreds of dollars.

>>132918
With currency, faith is your faith. If everyone sees it s valuable, what reason do you have to not make use of it? Businesses denying you with bitcoins is the beauty,not the harm, of the currency. The entire reason it is valuable is because it is free and unregulated.

>> No.133139
File: 955 KB, 360x360, 1392247184889.gif [View same] [iqdb] [saucenao] [google] [report]
133139

>>133108
Could you imagine how fucking mad you'd be if those 'libertarian nerds' you hate so much literally, factually, objectively tricked you out of making an easy six, or even SEVEN or EIGHT figures of free money by mining in 2010/2011/2012 and selling at peaks?

Could you imagine the sheer fucking hatred, literally passing up and LOSING the chance to be SET. FOR. LIFE. because you got trolled and rused by the people you hate most? the people who DID profit and made more money simply by tricking you

What a horrible fate.

>> No.133140
File: 7 KB, 283x255, jackyboy.jpg [View same] [iqdb] [saucenao] [google] [report]
133140

>>133010

http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/

redditfags blown the fuck out

people replying with dogecoins and sadface emoticons :( :(

>mfw

>> No.133142

I tried to withdraw my money in November last year and the fuckers wouldn't give it to me, citing their "bank limits". Now it's all gone.

>> No.133143

>>132353
The purpose of this document is to summarize a joint statement to the Bitcoin community regarding Mt.Gox.
This tragic violation of the trust of users of Mt.Gox was the result of one company’s actions and does not reflect the resilience or value of bitcoin and the digital currency industry. There are hundreds of trustworthy and responsible companies involved in bitcoin. These companies will continue to build the future of money by making bitcoin more secure and easy to use for consumers and merchants. As with any new industry, there are certain bad actors that need to be weeded out, and that is what we are seeing today. Mtgox has confirmed its issues in private discussions with other members of the bitcoin community
We are confident, however, that strong Bitcoin companies, led by highly competent teams and backed by credible investors, will continue to thrive, and to fulfill the promise that bitcoin offers as the future of payment in the Internet age.
http://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgox

>> No.133144

>>133103
http://www.forbes.com/sites/danielfisher/2013/08/08/gold-not-much-of-a-hedge-for-anything-unless-youre-a-centurion/
http://www.cbsnews.com/media/how-to-hedge-against-inflation-hint-forget-gold/

As for Fiat, let's say the entire economic system collapses and you were right. How's that gold going to work out for you when you need water and food? When you have to protect it from others, do you really think someone's gonna give a shit about your gold?

>> No.133149

>>133142
How much?

>> No.133152

>>133107
>upside
>no talk whatsoever about how deep the downside rabbit hole goes(hint, it rhymes with hero).

>> No.133156

>>133068

Do you think that's a viable business plan? I'm pretty short on cash and would do some hits on a shady businessman for $70K worth of BTC.

Other get-rich-quick schemes I was thinking of, collecting GB's worth of CP then selling them for BTC

What could possibly go wrong?

>> No.133157

>>133144
Good thing i have bullets for that :^).

>> No.133158

>>133120
THIS! PLEASE THIS

>> No.133159

2,300 @ $409 BTC SELL ORDER ON BITFINEX

Are you guys mentally handicapped? It's over. Any upside is due to short sellers covering. Gox buying won't start until it gets in the mid 1's. (Assuming they decide not to screw everyone over)

Realistically, they might look into paying off ASIC manufacturers for a 51% attack. Their only hope is manipulating BTC even further.

$400 and sliding

>> No.133164

>>133144

How's that BTC going to work out when you need water and food and the internet is out?

>> No.133165

>>133149
Only a couple thousand $, but it's still quite a lot for a university student.

>> No.133167

>>133095

Realistically how viable is BTC, when there are a finite number of them? I mean .. can it still be a currency in 10, 20, 50 years?

Economistfags help me out here.

>> No.133168

>>132870
yeah i was just gonna say at least now maybe a nigga can get a mothafuckin graphics card for a normal price instead of some i need a costco crate of them to run on a pci-e plane. fucking couldn't have died soon enough, shit was bullshit anyway.

>> No.133173

>>133009
Not really. Prices will go down due to the scare. Bitcoins is a currency, not a good. Things work a bit more complexly.

>> No.133174
File: 74 KB, 476x479, exasperated marshmellow.jpg [View same] [iqdb] [saucenao] [google] [report]
133174

So what's the best site to use to buy BTC without a driver's license?

I'd continue using CampBX, but their ACH issues have made their coin price more expensive than the average.

>> No.133177

>>133164
Umm... I don't have any Bitcoin.

I'm sorry you wasted that post on me. I'm anti gold, anti bitcoin, pro traditional investments, especially value/dividend stocks.

>> No.133178

>>133174
coinbase

>> No.133179

H-H-here we go... less than 100 coins to <400

>> No.133180
File: 31 KB, 315x300, uglydudefuckshotchicks.jpg [View same] [iqdb] [saucenao] [google] [report]
133180

>>133056
No, friend got the bitcoins I sent him and immediately bought some computer parts with them on overstock and tigerdirect. It took me about 15 seconds to send and got there in under an hour.

Maybe if you tried it sometime then you might like it, because you are now aware that most people on 4chan have heard of bitcoin but never actually owned any so far.

>> No.133183

>>133168
only if you want AMD cards.

you're not going to be able to buy next-gen nvidia cards. even if coins drop another 4x in value, those cards will still be highly profitable.

>> No.133185

>>133165

That could feed a family for months in 80% of the world.

>> No.133186

>>133167
It could be a currency.

But currency doesn't imply a value. It performs the act of currency at 1 penny per BTC.

>> No.133187

As long as it doesn't go below 100 I won't have lost anything

>> No.133189

>>133139
It has to be something. I feel butthurt myself for hearing about it 2 years ago and not researching it as much as I could and start mining.

>> No.133191

>>133139
damn I'm a libertarian nerd but I didn't even pull off getting rich off of bitcoin

kudos anyway

>> No.133192

>>133063
yeah pretty pathetic IMO, they can't get their daily required USDA allotment of attention.

>> No.133196

>>133187
you don't lose anything until you sell

>> No.133202

>>133196
>keep telling yourself that.

>> No.133203

>>133196
And if you're never willing to sell, you might as well have lost it already.

>> No.133212

>>133180
And in that hour it took to send/confirm, how far did the price drop? 5%? What a currency. So stable.

>> No.133213

>>133159
I hope it goes to $100 I really do, then I can afford some again, and I pay all my bills on the 1st.

>> No.133214

>>133202
>falling for the greatest shakedown of all time
ishygddt

>> No.133217

>>133212
you forgot the ™ in Stable™. it indicates you're not from here, a /biz/antine emperor.

>> No.133220

>>133212
>MUH STABILITY

Literally worth hundreds of dollars. You are wrong, objectively. Its established, its out of state control. Why do you think governments are terrified of this and already moving to ban it? Because they care about their citizens? Hell no, this poses a massive threat to state power.

>> No.133226

>>133214
>value of BTC falls below 100$, and never ever recovers
>holding onto BTC at a cost basis of 100$, "you don't lose money unless you sell"
>never having money

This is going to be rich. Maybe next week instead of next year, /biz/ will be devoted solely to economic arguments and investing. It'll be so fucking nice to not have to deal with cryptocoins.

Satoshi, thank you for creating another chapter in "Bubbles and stupid people."

>> No.133235

>>133220
>Tulips worth more then house
>It's established! Tulips are great!
>Tulip crash.

>It's established! House pricing always goes up! It doesn't tend towards inflation!
>Housing crash

>> No.133236

>tell dad to sell buttcoins now, and then buy back in an hour or something
>he says no, sticking to his principles and not arbitraging because its too risky (he turned a few BTC into like 400 through various methods)

welp

>> No.133238

>>133226
dream on fuckclown. blockchains are going nowhere.

>> No.133240

>>132954

> that moment you finally wake up and realize your worthless fiat can be duplicated with a 200 dollar printing machine and bullion will be mined by africanfags until eternity, while a bitcoin requires tens of thousands in computing equipment and numerous days before you can even attain one.

Simple goyanomics, sheeplestein. Have fun putting your 'faith' into a promisary note which the gubment will continue printing 'til it runs the system to the ground. I'll be just fine with my 24.38 out of twenty some odd million created instanet currency.

lrn2hardcapvs.infinity

>> No.133242

>>133226
top kek when crypto space is about to blow up to the uspisde

>> No.133244
File: 23 KB, 343x361, 1367531526017.jpg [View same] [iqdb] [saucenao] [google] [report]
133244

Reminder that the Best Invesment Of The Decade you Aren't Allowed To Purchase Or Acquire In Any Way

Remember that it is DENIED To You.

Remember That You Cannot Purchase Ripple, The Cryptocurrency Backed By Google. Backed By Governments. The Replacement to Bitcoin.

Let It Weigh Upon Your Very Soul.

You are NOT PERMITTED to PROFIT from RIPPLE.

You CANNOT PURCHASE RIPPLE. They control EVERY SINGLE COIN and ARE NOT SELLING TO GOY LIKE YOU!

>> No.133245

>>133235
>>Tulips worth more then house
>>It's established! Tulips are great!
>>Tulip crash.

We both know comparing tulips to bitcoins is foolish.

>>It's established! House pricing always goes up! It doesn't tend towards inflation!
>>Housing crash

Value of property always increases with time. There is a very limited space available and more people wish to purchase an ever shrinking portion of land. "Housing crashes" are a bump in the road in their rise.

>> No.133246

>>133238
>wasting harddrive space on useless 1's and 0's instead of porn/anime/games/music/tv/video/fucking anything useful

>> No.133253

>>133246
dat strawman lmao
good night /biz/

>> No.133261

>>133244
ripple is shit. the creator/founder left. the current ceo is a wackjob.

fucking TiPS, a fucking joke coin started to make fun of euphoric redditors does more daily transactions:
http://coinmarketcap.com/

>> No.133262
File: 25 KB, 490x310, 1390588936975.jpg [View same] [iqdb] [saucenao] [google] [report]
133262

According to http://bitcoinity.org/markets/ Bitcoin hit $400 a few minutes ago.

>> No.133264
File: 27 KB, 476x139, 1111.jpg [View same] [iqdb] [saucenao] [google] [report]
133264

BLAZE IT

>> No.133265

>>133261
Backed.
By.
Google.
Son.

>> No.133266

>>133245
>here is a very limited space available

you can built up, populations aren't evenly distributed across land masses

>> No.133267

>>133246
>what is electrum
>what is multibit

>> No.133268

>>133262
Yeah bought 20 bux worth at 403 or something like that. it's rising again.

>> No.133269

This is LITERALLY Mt. Gox saying "we're too big to fail, bailout plox". Fuck them, let's freemarket this shit and let the chips fall where they may. I don't mind waiting another decade for cryptocurrency to take off, that's nothing in the grand scheme of things.

>> No.133274
File: 90 KB, 1160x381, 1393311128166.png [View same] [iqdb] [saucenao] [google] [report]
133274

hnnnnng

>> No.133275

>>133265
they invested because jed was at the helm.

jed left.

nobody gives a shit about ripple anymore.

>> No.133278

>>133245
http://www.jparsons.net/housingbubble/
http://www.nytimes.com/2013/04/14/business/why-home-prices-change-or-dont.html?_r=0

>> No.133288
File: 256 KB, 1202x636, 1365676500084.png [View same] [iqdb] [saucenao] [google] [report]
133288

>>http://rbt.asia/g/?task=search&ghost=&search_text=%22It%27s+not+a+bubble%22

>But the bitcoin system works

>> No.133289
File: 2.72 MB, 230x173, 1393294952986.gif [View same] [iqdb] [saucenao] [google] [report]
133289

Why the fucking hell are there IDs here?

Is this fucking /b/

inb4

>b-b-but shills :(((((

This Is Literally Reddit Tier


>>133275
>n-no don't invest in this massively undervalued and extremely high potential thing
Cool 2010-2012 Era Bitcoin FUD bro, yeah Ripple is totes mcgoats not the thing to get :^)))))))))))))))))))) le sardonic smiley fais :^)

>> No.133299

L
M
F
A
O

>> No.133305

>>133289
>implying ID's work

>> No.133311

>>133289
ripple has only one key developer left, stefan is far too smart to be bossed around by a fucking sociopathic lunatic for much longer. once he leaves the entire project is fucked. there is literally no one else doing any real work on ripple. that coin is deader than fucking TiPS, even koreaboo stands a better chance than you.

>> No.133314

>>133278
So your first source proves my point, and your second one extrapolates to try and show property doesn't increase in as much value as people think.

You sure convinced me.

>> No.133317
File: 2.24 MB, 2138x1500, clank.png [View same] [iqdb] [saucenao] [google] [report]
133317

WHAT THE FUCK
I JUST WOKEUP
WHAT DOES THIS MEAN
SOMEBODY TELL ME STRAIGHT UP
>im too lazy to open links

>> No.133318

>>133289
>Why the fucking hell are there IDs here?
I agree man, the IDs suck. But moot didn't want to make this board in the first place, so I'll just put up with it.

>> No.133319

>>133311
:^)))))))))))) yup let's listen to 4chan about what crypto to buy nopeeeeeeeee just ignore the man behind the curtain (Google) Investing Millions Into it :^)

>> No.133323

>>133311
Can you explain to me why development is important after the coin launches? What do they... do?

>> No.133326

dump bitcoin, buy doge

youre welcome

>> No.133328

>>133319
google stopped investing or even going to board meetings when jed left.

>> No.133330
File: 164 KB, 853x702, 1391437962452.jpg [View same] [iqdb] [saucenao] [google] [report]
133330

anyone else masterbating to this carnage

>> No.133333

>>133326
>buy into yet another pump and dump scam

>> No.133335

>>133314
Over the long term, housing matches inflation.

>> No.133336

Now coinbase is down. Probably couldn't handle the load.

I can't believe one small company in japan run by a french jew can bring down an entire fledgling industry. This is amazing.

>> No.133337
File: 51 KB, 200x199, lion kong.jpg [View same] [iqdb] [saucenao] [google] [report]
133337

>>133178
Well I don't like how they're not an exchange with the usual bids & asks, but I guess it's pretty damn hassle free (and cheap for the time being)

>suddenly, https://coinbase.com/ gives me nothing but application error
lel, the universe likes to keep things fun

>> No.133338

>>133317
mt. gox site is down or maybe through completely. bitcoin was not fucked up, only mt gox. basically mt gox acts like a brokerage firm - they help you exchange money for bitcoins. bitcoin is still fine just falling, it wasn't compromised

>> No.133339

>>133317
>im too lazy to open links
Then you can lose your money.

>> No.133343

>>133323
ripple is not finished.

their contract system isn't finished, rippled can't handle very many transactions (especially trading), it crashes all the time, etc.

they're one key developer away from being completely over. they've lost all the other main devs already.

>> No.133344

>>133330
Yes.

>> No.133345

>>133167

Inflation is a sort of theft. The Fed prints money to increase the money supply and to target ~3% inflation. 3% inflation means you lose 3% of the value of your money every year.

Well, without increasing the money supply, the value of the currency appreciates("deflation"). Look at stock values. Stocks function perfectly fine without increasing their share count yearly.

Basically, inflation acts to "encourage" people into "riskier investments". Fractional reserve banking doesn't *need inflation, the economy doesn't need inflation. So the finite amount of them is a non-issue.

>> No.133346

>>132558
for a coin that is not regulated?
>the perfect crime

>> No.133349

>>133343
Time to switch to counterparty. That's the difference with open source free software.

>> No.133350

>>133328
cool FUD brah, but you're gonna have to step it up in light of recent events ;^)

>> No.133356

I hope that shit tanks so I can buy it up

>> No.133357

>>132385
>they're still mad /g/entoomen rused them from mining bitcoin in 2010 and 2011

still trying to parse this but lol no, not mad. i've been laughing at bitcoins since the very start

>> No.133358

at what point in the descent would be a good value to put it all on BTC?

>> No.133359

>>133333
you can trust me, goy :^)

>> No.133361

>>133333
Oh shit

>> No.133368

>>133336
>>Now coinbase is down.

Works for me. Just puchased another half a bitcoin.

>inb4 tur hur haf fun woke up seen ur vestmints down 2 hole

>> No.133369
File: 154 KB, 578x360, 1377067465666.jpg [View same] [iqdb] [saucenao] [google] [report]
133369

>>133317

>> No.133372

>>133330

i'm reading this
http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/

it's actually a bit of a horrow show I mean some people have lost thousands of dollars

is it better to gamble and lose, or be a NEET?

>> No.133379

>>133349
counterparty is not viable long-term, but is sure as fuck better than ripple.

>>133350
you have no fucking idea what you're doing investing a coin where the creators own 98% of the coins and the coin does less trading than a 4chan joke coin. some of the said creators who own billions fucking HATE ripple as it exists today.

>> No.133382

>>133338
>it wasn't compromised
tens of thousands leaked out of mt dox to god knows where, it's thoroughly compromised.

>> No.133383
File: 176 KB, 1490x1082, 1393311833690.jpg [View same] [iqdb] [saucenao] [google] [report]
133383

>> No.133387

What happened on the 9th of feb? Russia banned transactions, anything else?

>> No.133389

>>133317

MORNIUNG BRITFAG I"VE BEEN UP ALL NIGHT

>> No.133390

>>133358
I'm sure now is fine, the panic is a rumor, truth will probably be at least a little better than this

>> No.133392

>>133382
bitcoin ITSELF isn't compromised you fucktard

>> No.133393
File: 55 KB, 480x327, wecrash.jpg [View same] [iqdb] [saucenao] [google] [report]
133393

HOLY STINKIN' MOTHERFUCKIN' SHIT BALLS

I JUST CAME ACROSS THIS FUCK WHILE RANDOMLY CHECKING THE NUMBERS AT COINMARKETCAP

HOW IN THE NAME OF ELEPHANT DICK DID THE FUCKING PRICE DROP ALL THE WAY TO DAMN NEAR $420, AND IT LOOKS LIKE IT'S STILL DROPPING AS I FUCKING SPEAK

ALL THE WASTED TIME......MY SWEAT.....MY BLOOD.....MY TEARS......

MY MOTHERFUCKIN' MONEYYYYYY

GOD CONTINUES TO MAKE FUN OF ME

WHYYYYYYYYYYYYYYYY

>> No.133394

>>133358
Look at your wallet (your real one), your bank accounts, and all your spare cash. Total up *exactly* how much you would be totally okay with losing at this very second. When BTC drops to wherever it stabilizes for a reasonable period of time (48-72 hours), buy as many as you feel safe buying within the limit of the amount of money you would be willing to lose right at that very moment.

Don't ever, on any investment, spend more than you can replace or are willing to lose outright.

EVE Online is probably the best videogame for learning basic economics.

>> No.133399

>>133372
>is it better to gamble and lose, or be a NEET?

Why is it a binary option? Why gamble on a speculative 1 and 0?

Investing, isn't gambling.

>> No.133405

>>133393
You have nothing to lose unless you had your money in Mt.Gox.

>> No.133406
File: 154 KB, 1600x839, withjewsyou.png [View same] [iqdb] [saucenao] [google] [report]
133406

>> No.133408

>>133393
calm the fuck down, just hold on to your coins and wait for the market to go back up. jesus fucking christ - i know it's a new board but this place is already infested with bears

>> No.133409

>>133387
First hints of something not right. I think that was the bitcoin transaction malleability gox issue.

>> No.133414

>>133392
a significant fraction of it is missing. That's a compromising position to be in. The value of all other coins is destabilized by the questionable status of the missing ones.

>> No.133416
File: 297 KB, 1110x775, redditfag_an_heros.png [View same] [iqdb] [saucenao] [google] [report]
133416

>>133406

>> No.133420

>>133405
False
>>133393
SELL SELL SELL! C'mon man! SELL!

>starts masturbating in corner

>> No.133421

>>133393
Oh my, you seem to be quite flustered my good go- I mean my good man. Perhaps you'd like to sell me your investment? I'll do it as an act of charity for one of my "/b/rothers".

>> No.133423
File: 8 KB, 208x243, guesswho.png [View same] [iqdb] [saucenao] [google] [report]
133423

>>133406
>Storing ALL your bitcoins in one website
>Wonder when this happens
That's what ya get

>> No.133424

>>133406
damn. makes me feel a lot better about my 100 shircoins that were locked up in there.

>> No.133427

>>133393

y'alright bro?

>> No.133429

>>133405
.. or if you owned any BTC

>> No.133430

>>133416
HAH wow. Honestly though, he was totally gambling. There's no reason to have that much money in there if he wasn't day tarding on a market that he knows he can't withdraw USD from.

>> No.133431

>>133372
>http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/
I know it's rebbit, but holy fuck. I actually feel terrible about this. I'm REALLY glad I didn't buy in, though.

>> No.133438

>keeping your money on an exchange

they deserve it

>> No.133439

It is hilarious how people fall for the same god damn financial Ponzi schemes every time. Price only goes up when more suckers come in. And then you run out of suckers

>> No.133440

>>133414
jesus fucking christ, read this very carefully:
>a lot of bitcoins are missing
>this is the equivalent of theft or something to that degree
>the actual system of bitcoin is not compromised
in other words you're basically saying that if a store gets robbed, the dollar has been compromised. stop being that retarded

>> No.133441

>>133416

run this shit to USD on calculator at ~600

2851200

double check

yeh 2,8 million dollars

top motherfucking kek

>> No.133444
File: 6 KB, 225x225, 1393123169900.jpg [View same] [iqdb] [saucenao] [google] [report]
133444

>>133406
>>133416

Damn. That poor guy. That's about 3 million dollars if he could've sold them this morning.

Dayum shame...

>> No.133450

>>133439
>i don't know what a ponzi scheme is but msnbc said it so i agree
gtfo srs

>> No.133453

this document looks totally legit.

especially the "letter from the ceo" part gave me some serious laughs.
Nice pic of Karp you got there.

If this doc is legit they totally deserved bankruptcy.

>> No.133455

>>133440
You are severely downplaying the issue. Keep the proportion on the same level. If literally all of Bank of America's dollars went missing and they were unable to pay out to savers and investors, the dollar would in fact be fucking compromised.

>> No.133456

>>133440

Don't be retarded, that amount of coins can rape the price to fucking nothing on every known exchange.

No merchant will accept a currency like this.

>> No.133460

>>133444
He never could have withdrawn that from Mt. Gox before they shut down anyway. Nor could he have withdrawn his BTC, either, because they stopped that months ago.

He was fucked a long time ago.

>> No.133461

>>133438

Can someone, perhaps you, explain the difference between keeping it on Mt Gox and keeping it in a wallet on your HDD?

Seriously .. why.

>> No.133462

>>133444

Yeah I bet the guy with 200 tulips or south sea trading company shares thought he was genius at the time too

>> No.133463

>>133453
https://twitter.com/MtGox
https://www.mtgox.com/

>yfw

>> No.133464

>>133440
replace store with 1/2 the output of a mint for several years and you've got a decent analogy. Would that compromise the dollar? No, because the security features on the bills in your wallet are still there?

>> No.133468

>>133461

One is not secure and evaporates when Mt Goy does

One is secure

>> No.133470

>>133460
Not months... I easily withdrew 320 BTC on 12/30.

>> No.133471

>>133440
Let's turn this to... JP Morgan.
>JP Morgan increases customer wait times
>JP Morgan reports that somebody has been stealing electronically from them, is unclear about how this issue affects other banks, temporarily halt withdrawals
>JP Morgan is working on fixing issues, withdrawal resume, wait times increase
>JP Morgan dissapears

Commence the bank run on all other banks

>> No.133474

So can we blame this on the big banks? Who is going to jail for this. It's time for the 1% to pay.

>> No.133478

>implying there was ever a exploit
>implying mtgox hasn't been transferring the bitcoins to their own wallet
>implying they didn't get away with the greatest jew while playing the victim

>> No.133480

>>133461
ask your grandparents why they kept money in their mattresses

>> No.133482

>>133383

what software do you use for that?

>> No.133488

>>133461
One you have control over. The other can shut down and take everything with them.

>> No.133489

>>133450
a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

The only way to make money in bit coin is to hope some other dumbass pays more for it than you. How is it not a ponzi?

>> No.133491

>>133482
Not him but:
http://bitcoinity.org/markets/bitstamp/USD

>> No.133494

>>133471
banks are different because they do fractional reserve.

it's more like a commodity exchange fails.

>> No.133496

>>133478
"A jew screams in pain as he punches you in the face"

>> No.133499

>>133489
>nonexistent enterprise
That's the thing there, no matter how much you hate buttcoins it there's actual use and need for them, if the price is usually inflated

>> No.133501

>>133471
Thankfully there's such a thing as banking regulations. If JP Morgan failed, the FDIC would step in, close the branches on a Friday, then sell it off to other banks to reopen on a Monday.

>> No.133502

>>133461

Simple.

Keep your money in your own wallet, or tell some random guy on the street to hold your wallet for you.

>> No.133503

>>133491
>http://bitcoinity.org/markets/bitstamp/USD
>That attempted propping up at 440

How long until this get's exhausted.... =)

>> No.133504

>>133463

don't forget http://support.mtgox.com/

>> No.133509

>>133494
Only if that also takes out 1/2 the traders current accounts.

>> No.133516

>>133480
>>133502

OK but we're talking about VIRTUAL currency here.

Cash under the mattress makes sense because you can hold it. Cash in a bank traditionally is safer. How the eff is keeping BTC on an exchange any safer?

What. Are. The. Advantages?

>> No.133523

>>133478
Seriously, people think that a currency based on trust and decentralization, being put in a centralized location run by a select few wasn't a total red flag to a scammer? How fucking retarded do you have to be?

>>133489
If you put it like that, it sounds like bitcoin is one big decentralized ponzi scheme where anyone with enough lacking morals and greedy enough fingers can swoop in and steal a piece of everyone's pie.

>> No.133524

They got their survival of the fittest system and found themselves the prey rather than the predator they imagined themselves.

>> No.133525

It's not even the end of the business day in japan. If the report was fake, MtGox surely would have said something. If a bunch of other exchanges incorrectly called out mtgox, they would have said something. Mark must be fucking insane to lead the situation into such a messed up state. Maybe he was threatened by yakuza to give up all his coins.

>> No.133526

>>133416
>increase your account security now by visiting our security center!

This is too fucking much, brb filing a missing persons report for my sides

>> No.133528

i don't get why karpeles just upped and left like this
why didn't he just continue insider trading on mt goyim then dump his coins on other exchanges for FIAT to regain solvency

i assumed that's what he was doing

>> No.133529

>>133503

Probably another hour of whales trying to squeeze every last red cent out of newbies who think this is the floor. Then another sell-off to 350 before the pattern repeats.

>> No.133530

>>133516
I think its similar to the same reason people keep money at PayPal.

>> No.133533

>>133501
True, but that doesn't apply to Mt Gox, beautifully established over in squinty eyed Japan.

I was just trying to describe the... scale, of this issue.

But with banks, you pull out money. Which still holds it's value. This is JP Morgan ceasing to exist.... and also somehow our exchange vs the euro falls by 1/2.

>> No.133534

>>133516
>he mattress makes sense because you can hold it. Cash in a bank traditionally is safer. How the eff is keeping BTC on an exchange any safer?

immediately liquidation in the event of a crash.

With bitcoin, someone is going to be left holding the bag, you can have the first sell order in, and be the first one out.

>> No.133536

>>133516
It's not. They were agreeing with you. Keeping BTC on an exchange is a borderline financially suicidal attempt at making a quick buck off of day trading. Nobody put their money into Gox for value security. They did it because they were greedy fucks, and they got what was coming.

>> No.133537
File: 774 KB, 640x360, 1364859199751.gif [View same] [iqdb] [saucenao] [google] [report]
133537

>>133372
>http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/
I recognize that I should be feeling bad about this and sorry for these people.

All I feel is sadistic joy.

It's fucked up, I know. But at the same time, I'm riding the biggest "I told you so" boner ever.

>> No.133538

https://twitter.com/search?q=my bitcoin mtgox

>> No.133544

>>133537
its too bad NEETs cant jump from basements

>> No.133545

>>133372
nice
more for u
https://bitcointalk.org/index.php?topic=486197.0

>already dead

>> No.133549

>>133489

>grampafag pretending to know how crypto system works
>thinks bitcoins created out of thin air like babies until 'the talk' with his father at ripe young age of age 28
>explain concepts of hard caps, equipment investment capital, mining difficult-----doesn't matter...back in my day, we used to walk to church in riverdancing clogs

>> No.133556
File: 70 KB, 516x246, image.jpg [View same] [iqdb] [saucenao] [google] [report]
133556

>> No.133559

>>133537
You sound new. Welcome to your first bitcoin crash watch, enjoy the show.

>> No.133560

The ride NEVER ends.

>> No.133563
File: 65 KB, 367x306, 1372874639787.jpg [View same] [iqdb] [saucenao] [google] [report]
133563

>>133560

>> No.133567

>>133536
>>133536

OK .. am I right in assuming the main reason people left their BTC on exchanges was because there was some kind of hassle/delay/fee charged for withdrawing or inserting or converting USD to BTC for every time/transaction?


If so, then I could see why they would leave it there. How much do the exchange take for every $100 they convert into BTC?

>> No.133569

Should I ditch my BTC now?

>> No.133572

>Yes, come to Mt. Goy. Give us your money and we will get bitshekels for you
>Don't worry, the free market would punish us if we just took your money and ran
>Thank you, Moishe. Just like Murray Rothbard and Ayn Rand, your people only want the best for us

Isn't it funny how people desiring a "decentralized" and "free" currency immediately start trusting a select few exchanges with all their wealth?

>> No.133574

>>133499
>there's actual use and need for them
silkroad is gone, so there is neither

>> No.133578

There are six Mt. Gox threads near the top of Hacker News right now.

>> No.133584

>>133569
no

>> No.133588

The most ironic part of this for me is that I remember how BTC soared after the FEDS said they would leave it alone. Now that everyone has lost their money they are calling for external auditors, investigations, etc.

I always thought it was the strangest thing that the price doubled when more uncertainty was introduced. I get Risk/Return, but the risk people are putting up with makes no sense. It really feels like 90% of the BTC community has no basic understanding of finance or security markets.

>> No.133591

>>133536
>They did it because they were greedy fucks, and they got what was coming.
that applies to everyone with BTC.

>> No.133592

>>133559
No, I've been here before.

Those first crashes could be attributed to many things: peak excitement, Silk Road going down, etc. These are things that the evangelists and true believers could wave away as saying "It's part of the system".

This is slightly different. This will validate so many media accusations...

>> No.133595

>>133578
better than the usual
>give 10% equity to YC for mcdonalds wages, it's totally a good deal guise
>worthless benchmarks
>bullshit about motivation
>e-penis stroking look how cool i am

>> No.133598

>>133588
>Now that everyone has lost their money they are calling for external auditors, investigations, etc.

No they aren't. They don't believe in statist things like investigations and regulations.

>> No.133602
File: 103 KB, 756x507, 1393313590212.png [View same] [iqdb] [saucenao] [google] [report]
133602

It's really quite fascinating how true this graph is for all bubbles. Says something about human nature.

Does anyone have any literature or ebooks I can read that talks about the psychology of economics and speculative bubbles?

>> No.133607

>>133537

that guy that lost 5000BTC, I linked him to this thread, maybe he will show up

>> No.133609

Hooray for two things:

A. Not investing in Bitcoin.

Shit's already too old and abused to be a stable investment.

B. Never actually mining with the intent of making profit.

I do this in my free time, it's very hard for me to lose much money in this market (Except in electricity bills, of course).

>> No.133614

To anyone who lost money on btc, have u considered that NEETS are the dumb last money in of any bubble

>> No.133617

>>133592
I don't get it, isn't this exactly the problem that can be waived away as a failure of the exchange institution and not the currency?

>> No.133618
File: 95 KB, 1097x394, d.png [View same] [iqdb] [saucenao] [google] [report]
133618

>>133598
Never heard of Reddit??

>> No.133619

>>133609
It never was an investment, it was a CURRENCY; a medium of exchange. It's their own fault that idiots lost so much money because they can't understand that simple fact.

>> No.133623

>>133618
external auditors are not government agencies.

voluntary audits are the free market at work.

>> No.133624

>>133619
And thus, in this moment I am euphoric. Now everyone else realizes that currency doesn't imply a value.

>> No.133625

>>133619
>It never was an currency, it was a GAMBLE
fix'd that for you.

>> No.133627

So....when is LTC coming to Gox again?

>> No.133628

>>133602
Extraordinary Popular Delusions and the Madness of Crowds

>> No.133629

>>133627
Next week

>> No.133631

>>133607
That's $2,000,000.

What is he going to say? I'm a horrible human being?

Probably true, but I'm not the one who poured $2 mil into unstable monopoly money (which people have been warning against for a long time and those warnings have been disregarded) and left it in the care of a "secure" third party (repeat that being warned before thing). You at least cash some of that out and have it somewhere secure precisely for something like this. Not doing so is just a failure of common sense and proper precautions.

At the end of the day, this is the free market doing what it does. This is literally what he signed up for: a currency with no regulation.

>> No.133633

>>133623
granted, but the theme is oversight, accountability, blah blah blah

>> No.133639

>>133592
I don't really follow. People always post that bubble image, but I've never actually seen it go below the mean. I don't see how this bad news will end bitcoin, especially after the China meltdown in December.

>> No.133641

>>133607
>5000btc
hory shit... is there anything but the noose left for that guy?

>> No.133643
File: 69 KB, 445x442, 1381260062439.png [View same] [iqdb] [saucenao] [google] [report]
133643

> mfw I predicted this would happen two weeks ago.

I love when greedy neckbeards get their privilege checked.

>> No.133646

>>133631
>You at least cash some of that out and have it somewhere secure precisely for something like this. Not doing so is just a failure of common sense and proper precautions.
exactly, he is a fucking idiot and should not have had it all just sitting on an exchange

>> No.133648

This is why I use Dogecoin.

>> No.133649

>>133624
Currencies do have value, but unlike money, which has uses outside of a medium of exchange, a currency has no value other than to be exchanged.
>>133625
It was that too. It's still a currency.

>> No.133651
File: 1.39 MB, 240x252, 1297977223329.gif [View same] [iqdb] [saucenao] [google] [report]
133651

>That document
Holy fucking shit, this is worse than I could have possibly imagined.

There are some millionaires who went fucking broke today.

>> No.133652

rumors on reddit swirling around that karpeles was last seen at the virtual office being escorted out by japanese police

#developing

>> No.133654

>>133643
>only two weeks
nigga we've known gox is stupid and in death throes for a while now

im certainly not panicking, this is all according to the plan so far

>> No.133656

>>133617
Yes, but keep in mind that one of the selling points of this currency is that there isn't any regulation or backing institutions other than user trust.

If this was a US bank, then it would be FDIC insured up to $250,000. But since we're dealing with an unregulated currency, anyone who lost money is going to have a nightmare trying to get it back (if ever).

How many people do you think will be scared away by that realization?

>> No.133660

Short sidebar here: Couldn't this whole mtgoy mess with the missing money have been recognized with basic double entry bookkeeping and balancing?

>> No.133662

Someone post the "spartans hold" image. I need to laugh.

>> No.133663

>>133651
They were never millionaires.

If you don't have it in your hand, you might as well not have it.

>> No.133665

>>133628

thanx

>> No.133667

>>133652
that actually works in his favor.

he's probably safer in police custody.

>> No.133668

>>133663
That's a matter of opinion.

What if I had 200 million dollars all tied up in the stock market?

I'm still a millionaire in my book.

>> No.133669

>>133631
Guarantee most if not all of his btc's were accrued before the btc explosion when you could still buy btc for as little as 1 to 10 dollars each.

I know, still doesn't ease 'that feels.' But it's more like...I bought a babe ruth rookie card 80 years ago for 100 bucks, just found out it's worth over a mill...and went to go and retrieve it from the attic from my old house..only to find out it had already been sold off.


But yeah, still prime for an hero exit.

>> No.133671

>>133100
I just bought bitcoin half an hour ago and already received it (thanks for the cheap prices fags).

Who the fuck buys bitcoin and waits 3 days?!

>> No.133672
File: 36 KB, 500x207, hank-batman.jpg [View same] [iqdb] [saucenao] [google] [report]
133672

Those insufferable pricks in the /g/ threads are probably offing themselves now.

> mfw they think they're millionaires despite never converting into fiat currency

>> No.133674

>>133656
An exchange isn't a bank and shouldn't be treated like one.

>> No.133676

>>133660
It could have been recognized with even the most basic bookkeeping.

>> No.133678
File: 240 KB, 600x249, 1393314355995.png [View same] [iqdb] [saucenao] [google] [report]
133678

>>133662

>> No.133680

>>133660

yes. but that assumes some measure of competence and professionalism.

>> No.133682

>>133668

depends on what you own, if its some shitty penny stocks you could be worth nothing tomorrow. If it is in big stable blue chip companies then yes

>> No.133683

>>133641

for all you know he has 10 Mil in the Bank of America

>> No.133685
File: 261 KB, 1000x883, 1374502861309.png [View same] [iqdb] [saucenao] [google] [report]
133685

>>133678

Fucking redditors mang.

>> No.133686

>>132846
the fact you can always make jewelry with it and sell it for money clearly

>> No.133687

>>133683
noose it is

>> No.133688

>>133683
mtgox has 5.5 million stuck in Wells Fargo

>> No.133689

>>133674
And who is going to enforce that idea?

>> No.133690

>>133683

Not cashing out a ponzi scheme at the double top

>top lel. babby's first bubble

>> No.133694

>>133682
Cryptocurrencies are pretty comparable to penny stocks, so fair enough.

>> No.133699

>>133678
I always thought this was such a stupid image. The Spartans held and what happened to them all? They died!

>> No.133700

>>133167
>can it still be a currency in 10, 20, 50 years?
They aren't all getting mined until you're long dead.

>> No.133704

>>133699

that wasn't the point? It's not like NEET have the disposable income to buy more bitcoin once prices drop.

>> No.133706

>>133686

>then you realize jewelry's 'value' is all subjective if not for the market value of the metals

fyi I can also go on overstock or amazon right now and purchase millions of dollars in computer equipment, futons, and beef jerkey with my btc if I wanted.

>inb4 but it's still not a currency with any feasible real world value

>> No.133709

>>133567

no you don't understand,

gox was lock a fx exchange, people were converting BTC to USD all the time, back and forth, like a currency market. They had LTC too

The people there were "trading" like you see on FX markets

That is why they didn't withdraw

>> No.133711

>>133689
The people investing in the currency should be aware of the fact their coins can and should be stored locally.

>> No.133715

>sold out when it was at least $1,050 two months ago because I sensed something
>made at least $12,000
>see prices now
>buy 15 btc for $6,750 on coinbase
>wait until things rise back up

>> No.133724
File: 143 KB, 1194x760, qLYhzR3[1].jpg [View same] [iqdb] [saucenao] [google] [report]
133724

>not being on the inside

>> No.133725

>>133715

you don goffed

>> No.133729

(laid off) MTGOX EMPLOYEE "Delerium" IRC NOW ON ##mtgox-chat@FREENODE

>> No.133730

>>133711
welp thread over. We solved the media-social-bitcoin threat paradigm guys gj

>> No.133734
File: 140 KB, 1144x628, grovy.jpg [View same] [iqdb] [saucenao] [google] [report]
133734

>>133715
>wait until things rise back up

>> No.133735

>>133690

the ting is, how do you KNOW when you're on top?

>> No.133737

07:53 < Plarkplark_> Delerium, is that really Sarah?
07:53 < Delerium> Plarkplark_: no thats not sarah - its a fake account
07:53 < Delerium> Gabralkhan: neither me or sarah have had any contact so say we have no job so...
07:54 < Delerium> Plarkplark_: it is 100% fake
(about how "sarah", a known mtgox support employee made a post on reddit)

>> No.133739

>>133379
The bullshit in this post is astounding. Ripple's development team has been EXPANDING for the last couple months. The creators own 20% of XRP split between like 10 people. Not exactly a monopoly. Shill more BTC

>> No.133740

>>133724
Kop Tek.

>> No.133746

>>133709

shit .. to trade 5000BTC is some serious madness, given the volatility of it.

I mean it's extremely high stakes gambling there.

>> No.133750

>>133372

This one guy

>About 14 coins. And it happens to be the last 14 coins my wife will ever let me invest in bitcoin. She wants nothing to do with it now. Not for investing, not for spending -- nothing. And it's a damned shame.
>I love how all the other bitcoin companies got together to say that their money was safe. Did they think that would help people like me? Do they think my wife cares?
>I love this community - I've been an evangelist since the early days - but no amount of guarantees or proof of solvency is ever going to win her trust back. And it kills me - because I know I'm not the only one who will be affected in this way.
>She'll move past it eventually, but I was really enjoying being a part of this. Here. Now. History. you know?

Then later he says he'll keep buying bitcoins on the sly, without telling his wife. He's going to ruin his fucking marriage over this shit. He's like Marty from True Detective, only instead of fucking broads he's buying useless funny-money.

>> No.133754
File: 101 KB, 780x341, simple.png [View same] [iqdb] [saucenao] [google] [report]
133754

>>133735

shit's simple really. Once a breach to the top fails, sell evertyhing.

>> No.133755

>>133750
>He's going to ruin his fucking marriage over this shit.
Fuck bitches.
Acquire "currency"

>> No.133757
File: 2.92 MB, 350x197, 1389063364545.gif [View same] [iqdb] [saucenao] [google] [report]
133757

>>133711
Number one fucking rule of economics and human nature: PEOPLE ARE STUPID.

You can't enforce this. This has happened before, it is happening now, and it will happen again.

Nothing will come of this.

And this isn't even accounting for other issues:
http://www.reuters.com/article/2014/02/24/us-bitcoin-security-idUSBREA1N1JO20140224

>> No.133762

>>133755
lol

>> No.133763

Why are people selling though? A scam site went bust? As expected by a rational individual with a brain. But no, people have to sell on other healthy exchanges. Are they retarded?

>> No.133764

>>133750
The beauty of bitcoin is that he'll be able to buy dragon dildos without leaving anything for the wife to see on bank/creditcard statements.

>> No.133765
File: 25 KB, 940x348, simple2.png [View same] [iqdb] [saucenao] [google] [report]
133765

>>133754

here you go 2.0

>> No.133767

>>133750

It's an addiction, really. It's no different to gambling in a bookies, only the people doing it with BTC have slightly better odds of winning and are a bit smarter.

My dad always hated gambling and instilled it in my at a young age

>> No.133770
File: 255 KB, 1156x926, 13148026382132.jpg [View same] [iqdb] [saucenao] [google] [report]
133770

>>133750
>He's going to ruin his fucking marriage over this shit.
Yeah rip.

>> No.133779

>>133763
what if i told you a healthy exchange may not be healthy etc

>> No.133780

>>133763
It's a bit self fulfilling. Everyone expected the price to dip because of this so they all sold to rebuy lower. That's the not idiots. A lot of people are just that stupid.

>> No.133781

>>133729
i tried joining that channel and it said it didn't exist wtf

>> No.133785 [DELETED] 

>>133662 [insert gladiator quote]

"... Three weeks from now, bitcoin will rebound... and I will be driving a Gallardo. Imagine where you will be.... and it will be so. Hold the line! Stay with me!... And If you find yourself doubting! In fear of a crash! Do not be troubled! For bitcoins are eternal!

>> No.133789

I think it got hacked by the chinese

>16k bitcoin flowed into china in last 40 mins, just a coincidence?

>> No.133792

>>133780

not knowing anything about bubbles. Thinking this isn't rats getting off the sinking ship. Enjoy being penniless.

I am going to stick to businesses that actually make money, like Coca Cola and Procter and Gamble.

>> No.133794

>>133781
did you use two #s?

>> No.133796
File: 169 KB, 1024x600, pebkac.png [View same] [iqdb] [saucenao] [google] [report]
133796

>>133781
lern2computer

>> No.133798

>>133763
all those coins that mtgox was supposed to have exist somewhere and there is no info on where they might be. It'd be retarded not to sell, the monopoly game is over because it's bedtime.

>> No.133799

Question to BTC fags

Why is a lot of power held in the hands of a few 'exchanges'? I mean what are the overheads of running an exchange - how hard is it to convert your BTC to USD and vice versa?

Basically, how come 100 BTC exchanges haven't sprung up? Is it just to do with trust?

>> No.133800

>>133796
is that weechat (weechat-curses)

thought i was the only suckka using that client

>> No.133802

This will bottom out at 300USD per BTC to loosely fit a linear path. Screencap this post.

>> No.133804

>>133799
opening bank accounts is surprisingly difficult

>> No.133805

>mtgox plans to rebrand as "gox.com" to fix their image
Why would they go with that of all things?
Why not a better name that brings up no memories of their shitty previous incarnation?

>> No.133807

>>133799

not knowing about economy of scale through network effect

jesus christ you faggots get dumber by the day

>> No.133808
File: 9 KB, 384x173, 13098722016.png [View same] [iqdb] [saucenao] [google] [report]
133808

OH SHI...

https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew?offset=600&filter=0

>> No.133809

>>133800
>is that weechat
it's based as fuck irssi. using anything else is a sign you're a pleb.

>> No.133810

>>133746

exactly, that is why the media backlash against gox won't be as bad as /biz would have you believe, because really only people that lost money are degenerate gamblers

its not like the entrepreneurs and developers that are building bitcoins startups lost money in gox, and these are the people that the media interviews

>> No.133811

>>133792
I'm comfortable with my 2k I made with a $300 initial investment, I'm only risking about $500 at this time anyway, I can live with that with the very likely return. BTC has a dip like this every other month and every single time without fail half of /g/ or now /biz/ claims the world is over and bubbles and reposts the bubble image at least a hundred times.

>> No.133813

>>133789
Their twitter went down aswell, so unless their sharing admin passwords or a email connected to both got hacked then maybe.

>nobody can actually sue mtgox for this nor chargeback accounts

>> No.133814

>>133789

sauce?

>> No.133817

>>133808
What's this then?

>> No.133818

>>133808
>2012

>> No.133819
File: 827 KB, 320x213, 1360304162281.gif [View same] [iqdb] [saucenao] [google] [report]
133819

>>133808

>> No.133820

>>133802
>Implying BTC has any value

>> No.133822

>>133799
BTCfags want to believe that their shit is unregulated and free from control.

In reality there are informal, unaccountable institutions. The exchanges mostly dominate how BTC are exchanged to fiat currency and back (not to mention into other alt coins). Mining is dominated by a small number of mining pools with top level mining rigs. Mining rig production is in the hands of what is basically a hardware cartel. It goes on.

Apparently, people forgot that power attracts power.

>> No.133827
File: 53 KB, 250x149, 4Vy4NgZ[1].jpg [View same] [iqdb] [saucenao] [google] [report]
133827

>>133799
Getting financial transmitter licenses (one for each US state you want to have customers in) and following anti-terrorism protect-the-children money laundering freedom laws is expensive and a lot of work

>> No.133828

>>132536
>Some scam site went down that everyone knew was a scam site
>You're going to lose a lot
Umm...first of all, the market has already reacted for the last few weeks going from 800 to 500, so most of sheeple already sold.

Secondly, it is common knowledge that mtgox is scam and I don't get it why people were using it.

Thirdly, bitcoin protocol is all fine and transaction mallability is fixed on other sites.

Fourthly, be greedy when others are fearful.

>> No.133829
File: 24 KB, 868x817, 11146116259.png [View same] [iqdb] [saucenao] [google] [report]
133829

>>133818
Gox was scammed for years.

>> No.133830

>>133792
they will accept bitcoin soob

>> No.133834
File: 39 KB, 979x353, simple3.png [View same] [iqdb] [saucenao] [google] [report]
133834

>>133765
3.0

>> No.133836

>>133808
Explain.. is this where all the money went? Wut?

>> No.133840

>Trusting a site where the 'x' is one character away from 'y'

>> No.133841

>>133828
it is common knowledge that bitcoin is scam and I don't get it why people are using it.

>> No.133845

I lost $300 =(

>> No.133846

>>133829
>Implying that wasn't an inside job

Either jewKarpeles is a fething moron, or it was done from the inside.

>> No.133851

>>133763
Because inherently, every other exchange have the same power to pull out this gox bullshit situation?

>> No.133852
File: 93 KB, 940x348, simple4.jpg [View same] [iqdb] [saucenao] [google] [report]
133852

>>133834

here, let me show u how a trader would actually do this shit. I am only up because I have trouble sleeping. Only if you can control your emotion though

>> No.133855

www.scribd.com/doc/209098983/MtGox-Situation-Crisis-Strategy-Draft-With-No-black-Bars

>> No.133856

>>133822

I imagine there are thousands of Chinese factories mining coins. I mean shit they do it for Runescape gold.

>> No.133857
File: 92 KB, 1033x755, 1390378238153.jpg [View same] [iqdb] [saucenao] [google] [report]
133857

>>133818
2012 is merely the oldest date
>>133836
Pure speculation, but the amounts and timespan are fun to draw conclusions from. I think it would be odd for a single scammer to funnel everything through a single address.

>> No.133864

>>133857
Well why not when there is jack shit anyone can ever do about it?

>> No.133865

>>133851
Not all of them would have the same influence, no one would give any shits if coinrush went down, only a few are big enough. Frankly people using Gox really really had it coming, it was total shit since forever.

>> No.133866

>>133809
I'm the person who posted that screenshot. Brofist. Bin using my main nigga irssi for over a decade.

>> No.133867
File: 125 KB, 600x574, cookie-monster-face-2.jpg [View same] [iqdb] [saucenao] [google] [report]
133867

ime of death: 11:00AM Japanese time 25/2/2014

>> No.133869

>>133852
I was just showing it is isn't necessarily the end of the world if you don't sell everything after a failed break.

>> No.133877

>>133856
Not thousands, but yes. Dozens of facilities mining this crap.

Individual mining is long dead.

>> No.133879

>>133869

it could be, because you don't know what the final top will be. Thats why you need strong rule based guides to trade as a way to manage risk.

>> No.133881

>"Is there any proof that Godzilla might be involved?"
Ahahahahah irc be cray

>> No.133888
File: 19 KB, 400x225, mortimer-duke.jpg [View same] [iqdb] [saucenao] [google] [report]
133888

>>133857

WE'VE GOTTA GET HOLD OF WILSON, AND TELL HIM TO SELLLLL

>> No.133891

>>133529

habeenign

>> No.133900

08:32 <@emma> i used to think about what i would do once i got my coins out of there and now im going to work tomorrow and have nothing
08:32 <@emma> im a stupid waitress why did i think i could do this
08:32 <@emma> i hate this
08:33 <@money> emma never lose hope
08:33 <@emma> i dont even understand bitcoins
08:33 <@emma> i believed in what they said
08:33 < sideshownz> emma: How much did you loose?
08:33 <@emma> 120 coins
08:33 <@money> emma stocks is the road to riches, don't lose hope. you can get out of it. you need to study hard
8:34 <@money> emma, go to bed, we will fight till the very end, someone will pay, and you will get sme of it i'm sure.

>> No.133903

>tfw got rid of all of my bitcoins a couple of days ago

>> No.133904

>>133900
Never invest anything you can't afford to lose outright.

>> No.133907

>>133900

10/10

>> No.133911

>>133891
My bet is that it's gonna bounce back before 400, it's gonna take a couple hours before another strong move down if it even happens at all

>> No.133912

>>133907
We're gonna need more sides Bob.

>> No.133914

>>133900
dumb bitch

>> No.133916
File: 29 KB, 340x399, 1313293204166.jpg [View same] [iqdb] [saucenao] [google] [report]
133916

>>133900

>08:33 <@emma> i dont even understand bitcoins

oh emma

>> No.133919
File: 96 KB, 825x540, 1377585371517.jpg [View same] [iqdb] [saucenao] [google] [report]
133919

The price took a hit, but that's a result of the exchange's fucking incompetence. This doesn't change anything if you believe in the basic premise of a borderless, decentralized currency that is also inflation proof.

When a country like Argentina's currency goes to shit that doesn't become a justifiable argument to return to a barter system and do away with 'money' entirely.

>> No.133920

>>133159
>Gox is done
>Bitcoin rising like a pheonix

What was the bad news again?

>> No.133922

is emma ##mtgox-chat@freenode's koreaboo?

>> No.133923

Im surprised theres not alot of counter intel going on right now.
Its like the thieves just dont give a fuck.

>> No.133926

I'm shocked and disappointed by this. Whoever could've foreseen something like this happening?

>> No.133928

>>133900

Holy shit she had 120 coins. She must have been holding since 2012 or something when mt.gox was really the best/only option to trade.

I feel legitimately bad for her.

>> No.133931
File: 1.93 MB, 576x324, HUHHHHH.gif [View same] [iqdb] [saucenao] [google] [report]
133931

>>133900
>A waitress is now 120 coins in debt
>minimum $17,550 in debt

But here's the real killer
>She doesn't understand bitcoins
>but had admin for that channel

>> No.133932
File: 213 KB, 1960x1102, DSC_000033.jpg [View same] [iqdb] [saucenao] [google] [report]
133932

>>133900
Top kek

>> No.133933

>>133920
>Steadily declining
>RISING LIKE A PHOENIX
It's going to tank a bit more before it goes back up

>> No.133934

8:40 < SarahCoinBit> I'm trying to find out now
08:40 <@money> SarahCoinBit: what's the ETA for withdrawals?
08:40 < AndrewWhatsUpppp> SARAH IS BACK. EVERYTHING IS FINE FOLKS!
08:41 <@money> lolol
08:41 < CompNsc> At least we might get some info
08:41 < DeathScythe676> Sarah can you prove legit by opening real #mtgox channel? we've had too many fake sarahs in our lives today we want the real one
08:41 <@emma> SarahCoinBit: yesterday morning you told everyone that MTgox was fine. our money is safe and there is no insolvency. Do you have anything to say to the people who trusted you and kept more money in Mtgox?

>> No.133935
File: 52 KB, 624x448, 1385168868873.jpg [View same] [iqdb] [saucenao] [google] [report]
133935

>>133900
>08:33 <@emma> i dont even understand bitcoins
>08:33 <@emma> i believed in what they said

>> No.133938

(sarahcoinbit is a mtgox employee)
08:40 < SarahCoinBit> I did not get fired and i have never posted in reddit in my life
08:40 < Chillance> wait, what is going on?
08:40 < p15_> SarahCoinBit why is mtgox down
08:40 < usaoscoin> what on earth is going on....
08:40 < SarahCoinBit> I'm trying to find out now

08:41 < DeathScythe676> Sarah can you prove legit by opening real #mtgox channel? we've had too many fake sarahs in our lives today we want the real one
08:41 < heyyoo> 083228 -!- SarahCoinBit [~SarahCoin@mtgox/staff/SarahCoinBit] has joined ##mtgox-chat
08:41 < SarahCoinBit> DeathScythe676: I can't do that yet sorry

08:43 <@SarahCoinBit> Herodes: I work remotely. The system were down but somehave started to come back up. Am trying to find out what is happening
??????????????????????

>> No.133939

>>133935
http://en.wikipedia.org/wiki/Greater_fool_theory

>> No.133944

>>133938

This really speaks to the kind of operation they were running that the entire internet knows about mt. gox closing up shop before one of their employees did.

>> No.133946

08:45 < padawan123> hi sarah why the site is offline?
08:46 <@SarahCoinBit> padawan123: I'm trying to find out

>> No.133947

>>133900

idi_amin_laughing_boat.gif

[filesize too large]

>> No.133955

08:45 < suseno> SarahCoinBit: is this legit? www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
08:47 <@SarahCoinBit> suseno: I don't think so as the english is too good
(KEK)

08:48 < Herodes> if mtgox management is crooks, they would not care about any employees getting in legal trouble.
08:48 <@SarahCoinBit> Herodes: Delerium has been speaking to Mark
(delerium is another mtgox employee who is on ##mtgox-chat)

>> No.133956

>>133900
>and you will get sme of it i'm sure.
>we will get it back
denial in full swing i see.

>> No.133958

>>133926

Yes who could have foreseen Magic The Gathering Online eXchange would be ill suited to handling millions of $$ worth of transactions

>> No.133961
File: 2.30 MB, 353x234, 1392319340701.gif [View same] [iqdb] [saucenao] [google] [report]
133961

>>133955
>08:45 < suseno> SarahCoinBit: is this legit? www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
>08:47 <@SarahCoinBit> suseno: I don't think so as the english is too good

>> No.133962

>>133958
no one

>> No.133963

>>132370

what separates fiat currency from digital currency in your opinion ?

>> No.133965
File: 84 KB, 447x600, whycantholdallbulltraps.jpg [View same] [iqdb] [saucenao] [google] [report]
133965

>>133226
>It'll be so fucking nice to not have to deal with cryptocoins.

Have fun with your stripper-coke bills and little-kid-stck-it-up-butthole-once quarters and nickels. But for a sick fuck like you, that must be a bonus.

>> No.133967
File: 315 KB, 484x393, pimpcat.png [View same] [iqdb] [saucenao] [google] [report]
133967

08:48 <@emma> SarahCoinBit: so why don't you find out when withdrawals will be resumed
08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on and i ave no evidence whats so ever that anything dodgy has happend

>> No.133968

>>133958
MtG cards are much more viable currency than btc will ever be.

>> No.133973

08:50 <@SarahCoinBit> tensai: There's nothing to come clean about
08:51 <@money> the us will deal with this
08:51 < funfare> great arbitrage opportunity right now with gox low.. does btc-E accept OK pay??
08:51 <@money> the US gov will get your monies
08:51 < wrostek> Yes, you guys are FUD mongering.. everything is fine

>> No.133976

>>133963
Backed by gubmint, not neets.

>> No.133979
File: 50 KB, 384x297, !.png [View same] [iqdb] [saucenao] [google] [report]
133979

08:41 < SarahCoinBit>
08:43 <@SarahCoinBit>
Wait a minute.

>> No.133981

>>133979
she got opped by another op

>> No.133982

>>133967
>08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on
>There is nothing to turn on

>> No.133983

so what should be the official song of the great buttcoin collapse?

http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now

fuck me

>> No.133986

>>132521
deposited money yesterday normally shows up within 2 hours. waited all day, fell asleep, just woke to refresh mtgox and see my delicious balance. nope. deposits were apparently accepted, but then fucking didn't show up, then the site disappears.
now i'm eating gruel for months, and can't even afford to get drunk.

>> No.133989

>>133982
Not main screen even?

>> No.133990

>>133983

www.youtube.com/watch?v=nqLArgCbh70&hd=1

>> No.133993

>>133668

>what if i had 200 million in lehman bros back in 2007

>> No.133994

>>133986
screenshot or it didn't happen. nobody would be this stupid to deposit money into mtgox will all the fucking press and red fucking alerts on their homepage.

>> No.133995

The denial in these people!

08:54 < wrostek> Seriously everything will be ok, the new code just caused a malfunction
08:54 < mdunc> There is absolutely no evidence of anything illegal going on. You all are freaking out over rumors and fear mongering. Wait for an official statement. Threatening to sue support staff? Give me a break.

>> No.133997

>>133983
http://www.youtube.com/watch?v=sBC_plvCRLk

>>133981
Wait i thought sarah could OP herself?
What's to prove that it's sarah then?
It could be somebody doing damage control.

>> No.133998

>>133265
>Google

You know, I seem to recall an emerging field of internet protocols back in the early 90's, some backed by Microsoft and IBM. Something unexpected happened and a few neckbeards ended up designing a technologically inferior protocol system that caught on for reasons that related to it not being backed by a big corportation. I think it was called something like HTTP, something like that. Maybe you heard of it, not sure.

>> No.133999

>>133963

Fiat or private currency has an issuer, and that issuance entails what is called a "promise to pay," backed by laws applicable to the issuer.

Cryptocurrency hasn't got those. And it is precisely this that makes some people fans of cryptocurrencies.

>> No.134001

>>133986

how much did you lose nigga

>> No.134002

MTGOX HOME PAGE VIEW SOURCE
>MTGOX HOME PAGE VIEW SOURCE
MTGOX HOME PAGE VIEW SOURCE
>MTGOX HOME PAGE VIEW SOURCE
MTGOX HOME PAGE VIEW SOURCE
<!-- put announce for mtgox acq here -->

>> No.134005

>>133994
i didn't take a screenshot because the funds hadn't shown up. i waited 13 hours before i couldn't stay awake any longer. now nothing.

>> No.134009

>>134002
<html>
<head>
<title>MtGox.com</title>
</head>
<body>
<!-- put announce for mtgox acq here -->
</body>
</html>


aw sheet

>> No.134019

>>134002
>>134009
What does acq mean here?

>> No.134020
File: 106 KB, 579x329, 1367964631893.jpg [View same] [iqdb] [saucenao] [google] [report]
134020

>>133983

>buttcoin

https://www.youtube.com/watch?v=vuyEgvCVYd8

>> No.134021

>>134002
>mtgox acq here
>mtgox acquisition

I'll be in tears if mtgox's static server got hacked, would explain why their api is running still.
But i'm sure they'll still announce their bitcoins were all stolen to get away with murder.

>> No.134022

>>133995

link to that channel

>> No.134024

>>134002

this just in: Mt. Gox sells out to some godawful bank

Bitcoins, now useable on your Chase card

buy as much as you can now before the price explodes back up to $1500 again

>> No.134026

>>133983
http://www.youtube.com/watch?v=ZhbujyF3ZNI
First 30 seconds of it.

>> No.134027

>>133983
http://www.youtube.com/watch?v=Z0GFRcFm-aY

>> No.134031

>>134019

acquisition

as in "Conglomerate A acquired Company B in a hostile takeover"

>> No.134032

>>134021
that might make sense. apparently their support page is still up on a different domain:
https://mtgox.zendesk.com/home

if that's the case i wish i was verified on bitcoinbuilder

>> No.134033

>>134019

acquisition?

>> No.134038

>>134033
But who would buy them?

>> No.134039

>>133976

like ''gubmint'' has your best interests at heart, they bail out banks who literally fuck you in the ass, they build up debt with said banks, wich you subsequently get to pay, then you also allow ''gubmint'' to fuck you in the ass.

what is boils down to is, bitcoin only 1 dick in ass, ''gubmint'' two dicks in the ass, i prefer one.

>> No.134044

>>134038

unsure, i'm not a programmer, perhaps that src code was there before the site went tits up

>> No.134045

so buttcoin is dead?

>> No.134046

>>134033
fud?

>> No.134047

doge rebounding

i suggest you get in

>> No.134048
File: 12 KB, 220x220, idtst.jpg [View same] [iqdb] [saucenao] [google] [report]
134048

>>134009
09:02 < suseno> yes as I predict, Mark will sell his company. And somebody will bail out all customer fund then do rebranding...

>> No.134054

>>134038

a major bank obviously

tomorrow is going to be huge. Bitcoin will be going to the moon

>> No.134055

>>134048
It's a diversion to let Mark leave the country.

>> No.134058

>>134054
Or to a complete low if the bank doesn't offer proper refunds

>> No.134059

>>134039

You might want to redo your inventory of bit-coin assdicks.

Even if we only count those that have have made headlines, there's quite a lot more than one out there, and the plan for tackling the problem appears to be "you are stupid because freedom."

>> No.134061
File: 15 KB, 316x202, 1393102991513.jpg [View same] [iqdb] [saucenao] [google] [report]
134061

>>134048

>yfw angel investor turns out to be none other than satoshi nakamoto
>yfw satoshi is revealed to be one zuckerberg's facebook goons
>there is no escape
>you will be assimilated
>we are the borg

>> No.134064
File: 40 KB, 283x305, no_honour.jpg [View same] [iqdb] [saucenao] [google] [report]
134064

08:48 <+emilsedgh> guys, i just read the new plan/announcement. but it said nothing about the lost coins. is there any plan to provide them or i should consider them lost?
09:02 <+aliasaila> well thats the thing. pretty much everyone has made an announcement except for gox
09:02 <+aliasaila> which leaves that shred of hope

>> No.134065

>>134047

Fuck off shill.

I can't use your worthless meme coin to buy pain meds.

>> No.134066

>>134039
I prefer money I can buy things with.

>> No.134067
File: 305 KB, 454x600, happening identifyinh.png [View same] [iqdb] [saucenao] [google] [report]
134067

If only you had listened, faggots.

Now read this once more and learn something from it:

Every time I see a bitcoin thread, I just shake my head and laugh.

You severely damaged losers are literally the Bronies of /biz/. You know, that sub-group of 4chan kids who obsess over the preschool girl show My Little Pony? You probably don't know since all of you pathetic losers are far too busy fapping to monetary fantasies and wishing that bitcoin prices rize to 1000.

Why on earth would a group of you no-lives cling heavily to something as sad as this? Is there some sort of mental sickness in you guys? Did you not have a childhood? Do you not have a grasp on reality? How can you allow yourselves to deteriorate to this?

At first, I figured it was one lonely kid making these threads and bumping all day while crying in the basement for being such a useless waste of life... but then, I realized this isn't one kid doing this. There are at least fifteen of you in these threads that are getting hard over the prices of bitcoin. There isn't any doubt that all of you autists are fat, out of shape, and friendless.

Is that the thrill you kids get from these threads? Is it the fact that you can laugh and sing and can't even get off of your bed to empty out your piss bottle? Do you not realize that this board doesn't exist for you and your buttcoin? If not, then WHAT THE FUCK IS YOUR FIXATION?

I'm speaking for /biz/ as a whole, and possibly, your families as well. Just stop. This isn't healthy. Stop now and try to live a regular life. How embarrassed must your family feel when they have to explain to your aunt and uncle that you lost all your assets playing in the jewcoin market.

Just stop already. Quit with the silly threads. OP, delete this thread. Kids, clear your browser history and sell all the bitcoins you have.

I am telling you this because I am empathetic and I care. Please listen to me.

>> No.134069

>>134047
Already bought friend.

>> No.134072

>>134064

whatst the IRC channel bro

>> No.134075
File: 103 KB, 456x445, happening.jpg [View same] [iqdb] [saucenao] [google] [report]
134075

>>132353
Sent. :)

>> No.134077

>>134059

should it be, we bailout mt gox because theyre too big to fail ?

Or would that be the exact opposite of what decentralised currency is about ?

If you fail in business you go bust thats how it should be, failure cannot be rewarded.

>> No.134079

So, they're all sticking to their guns and going anti-regulation. Good on them. But Mt. Gox didn't "fail" per se, right? I mean, the guys who did it made out like bandits. So they can act like this is a "Speed bump" and "a lesson to be learned" but really, there's absolutely nothing stopping me or anyone else from making a new exchange and fleecing the community again, right? I mean, you need an exchange to use these things, if I understand correctly.

>> No.134080
File: 67 KB, 499x474, doge-time.jpg [View same] [iqdb] [saucenao] [google] [report]
134080

>>134075
/pol/ images are deprecated on /biz/

>> No.134085

>>134067

>I'm speaking for /biz/ as a whole, and possibly, your families as well.

stopped reading there

7/10 good effort though

>> No.134086

>>134080
As expected from the rab/biz/ masters.

>> No.134088

>>134072
##mtgox-chat and #mygox-signal

Second one is quiet as fuck, first is a trollercauster.

There was already a screenshot in here with that info...

>> No.134094

>>134088

alright i'm in. i've got my trollface on.

>> No.134097

>>134067
>empathetic
of course throwing insults around, being condescending, and devaluing the people you want to reach out to would be the best option

>> No.134098
File: 234 KB, 440x450, happy merchant money.png [View same] [iqdb] [saucenao] [google] [report]
134098

>>134080
Good goy disinfo

>> No.134100

>>134077

wat?

no, absolutely let MtCocks fail. And absolutely let every single person and business who had any money remaining on their books get wiped out. And let every single employee for every business that was carrying a balance for any reason at all get fired.

Because "government sux."

>> No.134101

>>134079

Yes I guess maybe if a big establishment like a bank got involved, then there would be more trust.

>> No.134102

>>134066

spendbitcoinsdotcom

>> No.134105

>tfw i had 1k btc on gox

Haha, I knew it. I knew I wasn't meant for this, not cut out for this. That this was never supposed to happen to me. Money just isn't for the proles, like me. ;_;

>> No.134106

>>133439
>everybody runs in before people cash out at the top

That is EXACTLY how the stock market works, and it is called a pyramid scheme. Ponzi schemes are not like that at all.

>> No.134112

http://www.reddit.com/r/Bitcoin/comments/1yvnli/mtgox_is_being_acquired_they_have_just_updated/

OH SHIT

>> No.134119
File: 225 KB, 547x423, A1A.png [View same] [iqdb] [saucenao] [google] [report]
134119

Investing in internet money was never a good idea

>> No.134120

Oh well I had invested 100€ in mtgox to make some gambling money, guess I lost the game.

Should have listened to the retarded community crying wolf

>> No.134121

@LtCrData - FAILED COIN FROM THE START. WOLONG IS A RESPECTED NAME FOR THE CHINESE COMMUNITY. WOLONG IS AN ALTERNATE NICKNAME FOR ZHUGELIANG AND WOLONG NATURE RESERVE, CHINA'S ONLY PANDA RESERVE. THIS COIN IS DOOMED TO BE FAILURE. I HAVE SPREADED IT THROUGHOUT CHINA AND HAVE ENSURE THAT YOU AIN'T GETTING ANY HASHRATE, IN WOLONG WE TRUST, DUMB FUCKS 4CHAN, BUNCH OF NOOBS WHO CAN'T DO SHIT. WITHOUT GETTING YOUR THINGS
CHEAP. CHINESE CHINESE, BITCOIN WILL NOT TRADE THAT HIGH NOW, WITHOUT CHINESE, YOU AIN'T ROCKS AND CHINESE KICKASSES. I AM CHINESE.
wat

>> No.134124

(4:18:24 AM) LtCrData: FAILED COIN FROM THE START. WOLONG IS A RESPECTED NAME FOR THE CHINESE COMMUNITY. WOLONG IS AN ALTERNATE NICKNAME FOR ZHUGELIANG AND WOLONG NATURE RESERVE, CHINA'S ONLY PANDA RESERVE. THIS COIN IS DOOMED TO BE FAILURE. I HAVE SPREADED IT THROUGHOUT CHINA AND HAVE ENSURE THAT YOU AIN'T GETTING ANY HASHRATE, IN WOLONG WE TRUST, DUMB FUCKS 4CHAN, BUNCH OF NOOBS WHO CAN'T DO SHIT. WITHOUT GETTING YOUR THINGS
(4:18:25 AM) LtCrData: CHEAP. CHINESE CHINESE, BITCOIN WILL NOT TRADE THAT HIGH NOW, WITHOUT CHINESE, YOU AIN'T ROCKS AND CHINESE KICKASSES. I AM CHINESE.

>> No.134125

>>134121
>this new
are you from SA or /pol/? because you are clearly not a /biz/aintine general.

>> No.134130

>>133462
Yeah, I bet the guy telling his friend's Steve Jobs was just some lunatic hippy and would run Apple into the ground again in 1998 is feeling really good right now about being wrong to the tune of 5000% ROI.

>> No.134131

>>134079
buttcoiners will learn about regulations step by step

>> No.134132

>>134100

yes, a centralised banking system sucks, and if gox crashes, the coin will crash,value goes down, other (hopefully more responsible) parties buy up the rest, we have a new gox, hopefully better managed this time.

>> No.134137

>>134112
It's standard strategy employed by scammers, delaying everything while they cash in their checks.
Victims in denial usually laps it up right away.

>> No.134142

>>134039
The bank bailouts were all paid back with interest. Pay more attention.

>> No.134144
File: 158 KB, 459x266, tumblr_n0dromeZ901s9s4yeo1_500.jpg [View same] [iqdb] [saucenao] [google] [report]
134144

>>134125

/g/ and /sp/. i'm just getting hyped for tonights champions league matches

btw you really need a better name than bizantines.

how about biznessmen?

>> No.134151

>>134144

how about argo-fuckyourself

>> No.134152

>>134144
>>134125
>/biz/raelis

>> No.134157

>>134144
i was making a reference to the byzantine generals' problem.

the quote was from wolong getting buttmad at PND, a /g/ troll coin created by our lovely dear leader amdoge.

wolong's name is gameofdeception on bitcointalk:
https://bitcointalk.org/index.php?topic=464476.msg5154527#msg5154527
he got SUPER MAD we made fun of his pandacoin by making a duplicate pandacoin

>> No.134158
File: 9 KB, 237x213, 1390603637197.jpg [View same] [iqdb] [saucenao] [google] [report]
134158

BTC will crash so hard and you will all bite your asses that you didnt invest into something a bit more stable.
You might get bucks now - if you sell. But you are not selling, you are holding while MtGoy rapes your market. Raped markets will crash, that's a natural law.
Stablecoin is meant to be stable, that's why it is a SAFE investment.
So why don't you become clever ONCE in lifetime and get your coins into a save habour like Stablecoin? I made $15k USD from Stablecoin, nobody made anything over $10 with that intrinsically worthless weeaboo satoshi shitcoin.
But because you can't into clever. Yes, have fun being raped by woolong.

Come at me! Try to hack me you worthless faggots and I'll shut down your fucking internet!

>> No.134167

>>134158
StableShill! Good to see you here for all this. How's tricks man.

>mfw I've been reading this pasta for months and day trading and never once looked at SBC prices.

>> No.134170
File: 280 KB, 1574x746, mtgoxfraud.jpg [View same] [iqdb] [saucenao] [google] [report]
134170

But to me it was obvious. Just looking at the html code of their website one could tell they used extremely poor programming practices.

>> No.134174

>>134137

oh .. shit

I don't know who's jewing who any more. I'm gonna get some sleep and see what's up in a few hours.

>>134152

now you're talkin

>> No.134175

>>134170
>bit coin
are you new?

>> No.134177

fuck i got banned from the channel for trolling

>> No.134181

09:32 < wrostek> Maybe Google Acquired them


HAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHAHAHA *breathes* HAHAHAHAHAHAHAHAHAHHA

>> No.134182
File: 5 KB, 150x150, dog.jpg [View same] [iqdb] [saucenao] [google] [report]
134182

>>134170
How much are they paying you?

>> No.134184

http://www.bloomberg.com/tv/europe/

happening now

>> No.134198

>>134184

>turn on
>this just in: Justin Beiber arrested

it's bad enough MSNBC broke an interview with a senator talking about the NSA to report on this faggot, but Bloomberg doing it too while talking to the Mt. Gox faggot really annoys me

>> No.134199

>>134184

I watched 5 seconds and I already feel dumber.

Damned US media!

>> No.134202

read the whole thread. goodnight biz

>> No.134206

>>134182
12$/hr
plus 100 USD for every percentage point drop

>> No.134209

>implying it won't be back within 3 hours
>implying they didn't get acquired, thus the downtime
>implying anyone lost any money
>implying the price of bitcoin won't go up after it comes back up
>implying the fear mongering HAPPENING haters aren't going to get told

>> No.134215

>>134209
There's a realistic chance that they announce that mostly everything is gone, that's the risk of buying in now. It will go back up regardless, question is when.

>> No.134217

>>134181
oh god lol

>>134077

>should it be, we bailout mt gox because theyre too big to fail ?

no because no one cares and should care about gamblers.

>>134039


yeah and look what happened when the gubmint decided not to bailout the banks, it made everything worse

>> No.134218

>>134209

maximum damage control

>> No.134222

>>134209
It's ok Mark, you can rest now.

>> No.134224

>>134209
that would be nice, I could get some of my microcoins out

>> No.134263

>>133574
>silkroad is gone, so there is no use anymore

Tell that to the hundreds of millions of people with cell phones in Asia, Africa, and South America.

>> No.134274
File: 2.80 MB, 318x212, 1389037666707.gif [View same] [iqdb] [saucenao] [google] [report]
134274

>>133345
>Fractional reserve banking doesn't *need inflation
Fractional reserve banking is the main cause of inflation you dingus, well that mixed with loans that are never repaid. Go back to business school please!

>> No.134283

>>133574
You do know that silkroad is up, little cunt?

>> No.134286
File: 570 KB, 1533x2300, clooney.jpg [View same] [iqdb] [saucenao] [google] [report]
134286

It was an inside job.

Here's a picture of the suspect.

>> No.134288

>insolvent
>price still going up
>price still going up on the mtgox tracker

The fuck is this?

MTGox pump and dump bot still active?

>> No.134290

So did Mt.Goy really steal everyone's money or is it true about them being "hacked" and having bitcoins stolen?

>> No.134294

>http://www.reddit.com/r/Bitcoin/comments/1yv6ph/some_words_for_my_friends/


hahahahah

>> No.134312

10:03 <@epscy> I'm heartbroken, if we can't trust gox who can we trust?

>> No.134318

breaking through all kinds of resistance now, lucky I bought at 400!

>> No.134319

Whoever ends up buying/acquiring gox should turn it into a magic the gathering exchange for maximum kek

>> No.134321

>tfw its going up
godamnit

>> No.134334

>>134288
HAHAHAHAHAHHAHAHAHA

You grampafags will be clutching thy aortas when the prices of buttcoin rebound to la luna. FUD faggots don't realize price of insolvent goy has been priced in the past 2 weeks all along. Tonight was just the consolidation after the finalization. 400 was the bottom, hope some of you smart investorfags loaded up while you can.

See ya during lunar landing circa Summer '14!!!

>> No.134338

can someone explain to me the appeal of bitcoin as a currency?

every website takes paypal and credit card and my bank will reimburse me if i get hacked and my funds drained

right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency

>> No.134347

>>134338
>right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency

Exactly.

>can someone explain to me the appeal of bitcoin as a currency?

Secrecy. Which is why the only people who use it as a currency are people who use it to buy drugs.

>> No.134357

>The new branding is already complete, and new services such as the
Bitpocket wallet are already developed and ready for deployment.
>With a new image, team, and offering we believe that it will be a
challenge, but is not impossible. The risks of not acting are incredibly
large and unpredictable.

>The acquisition comment tags
>They're relabeling themself
I'm rock hard for tears

>> No.134361

>>134347
so what exactly is the end payoff for people? It already hit like 1500 usd per coin at one point

when will the ride end?

>> No.134370
File: 42 KB, 403x437, 1393323727269.jpg [View same] [iqdb] [saucenao] [google] [report]
134370

I never know when to sell but i sure as hell know when to buy and now is a great time to buy.

>> No.134372

>>134338

>http://www.overstock.com/bitcoin
>http://guardianlv.com/2014/02/bitcoin-declared-lawful-money-in-california-assembly-video/

Learn your fate, you decrepit serf.

>> No.134384 [DELETED] 

>>134370
>now is a great time to buy
welcome to 2 hours ago

>> No.134389

(5:26:05 AM) Jan1503: and when gox goes to brancruptcy, he renames it to "ox" / he should have picked a longer name, only 2 more bankruptcys to go

>> No.134392

>>134372
the end goal seems to be for 1 bitcoin to be worth thousands of dollars in USD, why would anyone want to use that? Especially when credit cards and bank accounts while not hack proof can be reimbursed

>> No.134396

>>134389
>implying it won't become Goy.com

>> No.134403
File: 113 KB, 1080x384, 1393324241957.png [View same] [iqdb] [saucenao] [google] [report]
134403

oh wow

>> No.134411

http://en.wikipedia.org/wiki/List_of_suicide_crisis_lines

>> No.134417

>>134403
Bitcoin Status: Child Ruiner
Seriously though, fuck any parent who gambles with their child funds.

>> No.134418

>>134403
He deserved it. So fucking stupid.

>> No.134424

>>134403

Ha, what a moron.

>> No.134425

>>134403
Any one dumb enough to let a website hold onto there life savings deserves to have it all taken away. The whole point of bitcoin was to be your own banker.

>> No.134427

>>134403

How did these people convince themselves they weren't gambling?

>> No.134429

>>134403
haha, this always happens when bitcoin takes a dive or some site gets hacked or some scam finally reveals itself, either way bitcoin is quite fucking risky, but with risk of course can come unmeasurable reward

>> No.134431

>>134392

>doesnt understand the concepts of interest and getting AWAY from credit

Why not?

Bitcoin will continue to get even harder and more expensive to mine as each minute passes, and thus prices will continue to climb concurrently. There will always be bumps along the road (as with any market), but the supply simply cannot and will not satiate demand from a global perspective.

Soon as more large scale organizations hop on the inevitable choo choo train, there is no conceiving what kind of prices buttcoin will see even 2 to 3 years from now.

It has just begun.

>> No.134437

>>134431
>and more expensive
http://en.wikipedia.org/wiki/Greater_fool_theory

>> No.134439

>>134431
b-but im pretty sure thats not how currency is supposed to work

>> No.134441

We peercoin/primecoin now

>dat technical superiority
>dat slow, steady stealth growth
>dem cunningham chains, oh boy dem elusive 10 chains

>> No.134445

>>133496
It's "A jew screams in pain as he stabs you in the back" actually.

>> No.134451

>>134403

HAHAHAHAHAHA

FAGGOT

>> No.134452
File: 25 KB, 394x458, 1393324778559.jpg [View same] [iqdb] [saucenao] [google] [report]
134452

>>134445
We don't really do that

>> No.134453

>>134427

Echo chambers.

>> No.134462

>>134437
>http://en.wikipedia.org/wiki/Greater_fool_theory

What about the concept of greater capitol and time invested = higher scaled pricing do you not get?

gtfo with the tulip_mania_analogy.txt samefaggotry

There are businesses in china with tens of hundreds of millions invested solely in super computing mining farms just to get this shit. Even if amerifags lose faith, the chinese market won't let it sink.

And I expect them not to, seeing as they've been making all the right economic decisions since ___insert any arbitrary date from the past decade here___ , while the rest of the world continues to toil in their own shit.

>> No.134464

>>134452
I know you don't really scream, but that's the proverb goes.

>> No.134467

SO when should I buy in? Any guesses what the bottom might be?

>> No.134473

>>134467

>>implying he didn't already miss it

>> No.134481

>>133933
>price falling

Nope.jpg

>> No.134487

>>134467
it maxed at 1600 i think at some point earlier this year before the chinese gubmint ruined the party, has it ever gotten close to that much since then?

>> No.134503

>>133588
if you followed stocks you'd know that lots of them soar after bad news and plummet after good news.

just look at stocks like amd and amazon the markets and how stocks go down after mergers and up after splits, the investment beast is a strange one

>> No.134507
File: 2.53 MB, 500x282, 1356696733296.gif [View same] [iqdb] [saucenao] [google] [report]
134507

>>134403
NEVER INVEST ANYTHING YOU CAN'T AFFORD TO LOSE OUTRIGHT

HOW CAN PEOPLE BE SO STUPID?

>> No.134508

>>134467

In all honesty, I say wait it out a day....if it dips anywhere in the 4xx range LOAD UP. Do not wait! That is going to be the low. After all the dust has cleared and people realize that nothing fucking changed from what we already knew for the past few months, it will be back up to 700...then soon thereafter into the 800's and eventually to quads by summertime.

Printscreen it. Do what you need to do. Everytime btc has experienced a crash, it bounces back harder than ever.

>> No.134520

How do you convert a bitcoin to real money?

>>134403
Has to be a troll.

>> No.134522

>>134520
Sell it on Coinbase or some other exchange for USD.

>> No.134523

>>134508
>Everytime the housing market has experienced a crash, it bounces back harder than ever.

>> No.134527

>>134522

or localbitoins/in-person (you can print a paper btc wallet that 'looks and functions' like fiat

>> No.134528

>>134523
No it didn't.

>> No.134533

The most prominent Bitcoin exchange appeared to be on the verge of collapse late Monday, raising questions about the future of a volatile marketplace.

On Monday night, a number of leading Bitcoin companies jointly announced that Mt. Gox, the largest exchange for most of Bitcoin’s existence, was planning to file for bankruptcy after months of technological problems and what appeared to have been a major theft. A document circulating widely in the Bitcoin world said the company had lost 744,000 Bitcoins in a theft that had gone unnoticed for years. That would be about 6 percent of the 12.4 million Bitcoins in circulation.

While Mt. Gox did not respond to numerous requests for comments, and the companies issuing the statement scrambled to determine the exact situation at Mt. Gox, which is based in Japan, the news helped push the price of a single Bitcoin below $500 for the first time since November, when it began a spike that took it above $1,200.

But at the same time that the news about Mt. Gox was emerging, a New York firm announced plans to create an exchange that could draw the world’s largest banks into the virtual currency market for the first time.

http://www.nytimes.com/2014/02/25/business/apparent-theft-at-mt-gox-shakes-bitcoin-world.html?hp

>> No.134542
File: 474 KB, 320x240, typical bitcoin investor.gif [View same] [iqdb] [saucenao] [google] [report]
134542

>let's invest our life savings into unregulated online drug money!
What could go wrong?

>> No.134543

>>132941
top hue

>> No.134544

>>134523

Let me know when they ever develop a limited hard cap on the total amount of houses created, or the difficulty of building increases. Let me guess...the cost of wetback labor from Home Depot has substantially increased?

>> No.134546
File: 22 KB, 274x280, 1361438261638.jpg [View same] [iqdb] [saucenao] [google] [report]
134546

MtGox should have died after the $13 -> $1 crash when they got hacked.

The world would be a much better place.

>> No.134559

>>134528

That's the point, numbnuts. All these bitcoin pushers keep insisting that because the price has gone up in the past after a crash, that it will always do so. Just like how for a long time it was considered common knowledge that the housing market always went up, so it was safe to sell junk mortgages.

Well, it wasn't. Eventually the housing market did crash and not recover. And the same will be true of Bitcoin. If not now, then in the future.

>> No.134570
File: 44 KB, 590x500, 1378813226031.jpg [View same] [iqdb] [saucenao] [google] [report]
134570

>tfw you put a minuscule amount of money in, saw it rise to unimaginable highs, and in the end never got anything out

Should have played Farmville instead.

>> No.134576
File: 1.41 MB, 350x272, 1393258212002.gif [View same] [iqdb] [saucenao] [google] [report]
134576

get fucking rekt
I hope all the current coins die horrible deaths.

Then I hope a new coin without all the bullshit and flaws emerges a few years later and becomes the futuristic "Credit" we've been waiting for. I hope they learn from their mistakes.

>> No.134580

>>134559
The thing is though, that Bitcoin is rapidly gaining adoption in the marketplace despite anything that is happening to the price right now.

It actually has real-world applications to propel it forward now.

It will be months before we see any significant rise in the price again, maybe even a year, but Bitcoin isn't going anywhere. The cat is out of the bag.

Even if Bitcoin did die, the technological innovation is presented will live on in one form or another. Either a second generation coin with better features and security will take its place, or the banks will come up with something like it (they have already tried to patent it.)

>> No.134583

leave it to a jew to ruin something good

>> No.134586

>>134576
Someone is launching Credit coin soon, actually.

>> No.134592

>>134283
That's silkroad 2.0, not done by the original dumbass, and quite possibly an FBI probe. You're a fucking moron if you use silk road today.

>> No.134598

>>134592
Not him, but Silk Road 2.0 got hacked recently. Shitload of Bitcoin gone.

>> No.134600

>>134586
Yeah but its not the same, just another bitcoin fork with different variable/hashes.

>> No.134602

>>134334
>investorfags
>touching cryptocoins... ever

Nope, you don't understand the difference between gambling and investing. Enjoy being a poorfag for the rest of your life.

>> No.134608

>>134580

Any currency as volatile as BitCoin has been to date will never see widespread adoption, despite the furious, masturbatory insistence of its greatness by /tek/ goons and redditors. At best it'll become a minor player in the commodities market.

Perhaps some other, more stable cryptocurrency will become useful at some point in the future, although I personally wouldn't hold my breath. But it won't be BitCoin and whatever it is will not be the get-rich-quick-scheme that anon was claiming BitCoin still is.

>> No.134616

>>134064

Which rich fuck would bother to bail gox out of at least $350M worth of debt? I don't even know if they have a way to verify each persons claim on a coin. Even if they did, how many users would they have to go through. It's a fucking mess and it literally can not be fixed, it is WAY fucking easier to just dust your hands off and walk away.

It would be the ULTIMATE publicity stunt though. Think about it. Good guy philanthropist billionaire offers bailout for absolute control of profits and earnings from gox? He shells out a miniscule amount of shekels and sets up his ancestors for life.

I'd probably do it if I had a spare billion or two lying around, but I don't. Maybe Bill Gates can get in on this shit and redirect the majority of the profits towards charitable avenues. Use the coin for all the "good in the world" that the retarded fanboy neckbeards claim it to be for.

Bitcoin is literally and always will be >investingforplebs that's why it's so fucking volatile.

>> No.134621

>>133864
The coders or the entire network could decide to reroute those back or to prune the address. Bitcoin is a living breathing digital ecosystem.

>> No.134626
File: 28 KB, 298x298, mtgox.jpg [View same] [iqdb] [saucenao] [google] [report]
134626

How does it feel goyims, that a Jew made off with all your buttcoins?

>> No.134636

>>134626
Time to buy bitches

>> No.134643

>>134544
>artificial scarcity of a worthless object === $$$$$$$

Yes, bitcoinfags are this stupid.

>> No.134644

>>134636
it hit bottom more than 2 hours ago. Already back over 500

>> No.134651

>>134507
>HOW CAN PEOPLE BE SO STUPID?

Sometimes I feel that schools purposely refrain from teaching kids about finance, taxes, being frugal etc. because everyone from the government to the big businesses profit from them being ignorant in such matters.

>> No.134657
File: 924 KB, 2912x2008, 1392561333474.jpg [View same] [iqdb] [saucenao] [google] [report]
134657

>>134626
pic
>>134636
goy who never learns or jew shilling to raise prices

>> No.134658

>>134598
Then 200% moron if you fucking touch Silkroad 2.0

>> No.134661
File: 983 KB, 500x280, 1393281344573.gif [View same] [iqdb] [saucenao] [google] [report]
134661

>Mt. Gox owners' face when

>> No.134664

>>134644
Tell me if you ever know what the smart money is doing, like the Vanderbilts. My bet?
>cashing out

Enjoy holding the bag.

>> No.134666

Expect another rise or decline once MtGox releases a statement on the rumored missing 750k BTC

>> No.134671

>>134651
>Sometimes I feel that schools purposely refrain from teaching kids about finance, taxes, being frugal etc.
Of course. Everyone needs to CONSUME and live above their means. They can't be educated to learn that this is bad.

>> No.134688

>>133900
see you at mcdonald emma!

>> No.134689
File: 16 KB, 586x101, lel.png [View same] [iqdb] [saucenao] [google] [report]
134689

>> No.134690
File: 37 KB, 564x181, Untitled.jpg [View same] [iqdb] [saucenao] [google] [report]
134690

Do these people like...learn that bitcoin doesn't work due to the amount of hacking and stealing that has happened in the past?
Or is it just possible to jew them over and over.

>> No.134695

>>133938
its so fucked

>> No.134698

http://www.mtgox.com/cold/storage/wallet.dat

TOPPEST OF KEKS

>> No.134703
File: 21 KB, 400x553, 1319257651057.jpg [View same] [iqdb] [saucenao] [google] [report]
134703

>>134698
>http://www.mtgox.com/cold/storage/wallet.dat
Here we go

>> No.134708
File: 465 KB, 245x118, 1378968214736.gif [View same] [iqdb] [saucenao] [google] [report]
134708

>>134690
>Mt Goy is gone, now bitcoin can be a real currency.

I bet they didn't even fix the double withdrawal exploit or the 51% of miners can take over and rewrite transactions thing.

>> No.134710

>>133900
>08:33 <@emma> i dont even understand bitcoins

Oh Christ.

>> No.134713

>>134698
http://www.mtgox.com/hot/storage/niggerdick.dat

>> No.134717

>falling for the electric jew when literally everyone with half a shred of intelligence knew it wouldn't last forever and didn't bother leaving as soon as it was apparent the boat was starting to sink long before this
i only have laughter at you folks.

>> No.134722

>>134671
Well, actually... teaching people about finances is hard.

It's dangerous, you teach people a little about finances, and they think they know more then they actually do, and make -worse- choices. I believe this is the applicable Freakonomics podcast on the subject:
http://freakonomics.com/2012/01/31/financial-literacy-solutions-information-design-edition/
http://freakonomics.com/2013/06/07/the-persistence-of-financial-illiteracy/
http://fbe.unimelb.edu.au/calendar/events/public/2013/public_lecture_in_shanghai_by_professor_paul_kofman

>> No.134726
File: 20 KB, 390x470, 1333494673605.png [View same] [iqdb] [saucenao] [google] [report]
134726

isn't it fun when peoples lifes get ruined

>> No.134731

https://twitter.com/gox_com

>> No.134732
File: 192 KB, 630x727, 1387337969511.jpg [View same] [iqdb] [saucenao] [google] [report]
134732

>>133986
I'll send you some moonshine in the mail bitch!

>> No.134733
File: 30 KB, 400x400, 1391478241349.jpg [View same] [iqdb] [saucenao] [google] [report]
134733

>>134726
dat schadenfreude

>> No.134744

>>134643

>>cluelessfag who pretends to know how crypto system and mining works but has no clue

BTC will continue to prove the doubters wrong. I capped this for ultimate lulbait a few months from now.

You grampafags just mad cuz you stay slavin' like the goyim you are because you refuse to accept evolution, whilst smart niggs be daytradin' alts, getting prime esophagus from the choicest koreaboos.

sux2bubrah

>> No.134747
File: 111 KB, 650x1182, 1393328021231.jpg [View same] [iqdb] [saucenao] [google] [report]
134747

jp.linkedin.com/pub/satoshi-nakamoto/87/921/a6

>> No.134750

>>134338
>right now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency

That's why Dogecoin is the future.

>> No.134754

>>134698
yeah no
you can't be serious

>> No.134756
File: 16 KB, 303x245, sun-rise-sushi.png [View same] [iqdb] [saucenao] [google] [report]
134756

>>133998
I hear this mentioned a lot but for the life of me I can't find anything on google about competitors to http backed by IBM or Microsoft. Mind helping an amateur internet historian out by naming them?

>> No.134757

>>134750
dogecoin is also a commodity

>> No.134758

>>134403

>Trusting a drug dealer scam network with life's savings

WHY.jpg

>> No.134760

>>134744
I'd screencap this, but there's too much bitcoin faggotry to attempt to screencap and post in the future. Enjoy your "investment". Do tell me how it works out for you in 5 years.

>meanwhile, 5 years of dividends from good strong companies, and improving fundamentals

>> No.134762
File: 301 KB, 800x930, 1393328184747.jpg [View same] [iqdb] [saucenao] [google] [report]
134762

>>134726
Holy shit this. I've been through a lot on the internet. Mostly on 4chan. I kind of imagine this to be along the lines of epic happenings in the BBS days back before the turn of the millenia.

There was snacks, cracky, boxxy, 34 mill botget on /b/. There was the party van, the mass murderers, occupyfags and everything inbetween.

Nothing, and I mean nothing, could compare to the absolute joy I feel when witnessing this entire debacle unfold and realising just how many potential futures got ruined by simply losing a hard drive.

Words can't describe it. It's just too much, i'm fucking euphoric. This is my greatest experience on the internet ever.

>bitcoins = investing for plebs
>all the smart people are running businesses that abuse, but don't rely upon the absolute army of dumbasses that swallow this shit up.
>mfw this is literally a microcosm experiment proving the absolute ignorance of so many people right now

God damn, I feel good.

4chan has literally twisted my soul. And I don't care.

>> No.134767

> This request is awaiting assignment to a support agent
fucking hell gox supportdesk, i've been waiting like 30 minutes. surely it won't be too much longer.

>> No.134768

>>134762
<tips fedora>

>> No.134769

>>134762
>i'm fucking euphoric
my fedoras are tipping on their own

>> No.134773

>>134762

so dark&edgy mate

>> No.134777

>>134767
>Thinking Mt Gox will ever give back your shekels

Bitcoinfags are really this stupid.

>> No.134785
File: 58 KB, 424x354, edgemax.gif [View same] [iqdb] [saucenao] [google] [report]
134785

>>134762
>4chan has literally twisted my soul. And I don't care.

>> No.134791

>>134760

>wallowing in poorfag goyim financial investments
>possibility of 100% ROI over 10 years putting blind faith in corporations with zero control? lulz nothx brb over 500% in 6 weeks daytrading 2 satoshi penny alts.

Yeah. Uh. Nothx.

>> No.134805

So...

Where's the mtgoy owner?

What is going to happen to him?

>> No.134808

>>134767

Anyone still using MtGoyim after all the shit they've pulled in the past deserves to lose their GoyCoins.

>> No.134809

>>134805
He's gong into hiding

>> No.134811

>>134809
Ooh exciting

>> No.134814
File: 72 KB, 576x413, happening.jpg [View same] [iqdb] [saucenao] [google] [report]
134814

>>132353
This makes me feel warm and fuzzy inside

>> No.134819

>>134791
>Discounting 7% annualized returns in favor of speculative nonsense.
>Discounting the power of compounding interest, the most powerful law in the universe.
>Going for 100% risky "investments", and constantly being burned.

Yes, bitcoinfags are really this stupid.

>> No.134820

this will end well:

https://bitcointalk.org/index.php?topic=486573.0

>> No.134823

>>134809

presumably to escape the bitcoin-hired assassins after his head for being such a tremendous fuckup.

>> No.134828

>>134820
>Yeah that wouldn't harm BTC at all would it

Lel he cares more about bitshekels than justice

Hahaha

>> No.134832

>>134805
Sunbathing in the bahamas, pocket laden with neet money and tears.

>> No.134833 [DELETED] 

>tfw this drags LTC down as well
>tfw didn't sell them when they were at 26
>tfw didn't sell them when they were at 22
>tfw now they are at 12

why am I so lazy?

>> No.134837

>>134833
>why am I so lazy?
That's not how you spell stupid.

>> No.134841
File: 205 KB, 518x536, 1391395524970.jpg [View same] [iqdb] [saucenao] [google] [report]
134841

>>134819
>744,408 Bitcoins evaporated or went to some jew's wallet or were stolen
>3.5% of all the bitcoins that are ever allowed to be made
>Almost a billion USD

>> No.134843 [DELETED] 

>>134837
I just couldn't be arsed to make an account on bitstamp.

>> No.134855

>>134841
C'mon, let's make it a thing.

>Coinfags really are this stupid.

>> No.134857

>>134819

>Sorry, can't hear you over the sound of my over 4,000% gainz on mint in the past week alone

ITT: Goyimfags: peanut butter n' jelly.

>> No.134859

>>134833
>>134843
>lazy
more like greedy
jewing 101 : greed is your servant, not your master.

>>134855
>denial

>> No.134860

>>134820
has potential. I'm not creating a username for this board, but someone should definitely post a reply to this:

Posts like this are absolutely intolerable.

The mere fact that you even remotely connect the value of money to that of a human life shows what mental incapabilities you have.

Tell us your name and adress, so that I can report you to your local police.

/////////

reply as follows for longterm lulz:

pay to get him doxxed with BTC,

>> No.134861
File: 9 KB, 816x114, 2014-02-25_17-59-36.png [View same] [iqdb] [saucenao] [google] [report]
134861

>>134833
>sold some coinc at 32
>feles good

>> No.134868

>>134616

WhatsApp was bought for $19billion

Imagine a company has lots of bitcoins and would increase their dollar value by >$350million, compared to now, if they bail out MtGox and gain trust again

So a company with ~240000 BTC would make a profit if the price of bitcoin rises from $500 to $2000.

>> No.134874

>>134833
> bought at .56p
> sold at £42
> new car, thanks ltc
i spent 20ltc funding mtgox yesterday. was the last of my shiz. now i've got 0.1, and 0.02btc. took me 16 months to get this far.

fuck it all. mtfux is simply regrouping, building new wallets, selling all the coins on the gox to cover costs, ready to relaunch, with my delicious funds awaiting me. any moment now.

>> No.134877

>>134868
but you're basically paraphrasing what i've already said for the whole of today.

>> No.134888

>>134874
>now i've got 0.1, and 0.02btc. took me 16 months to get this far.

what the fuck am i reading

>> No.134891

>>134820

are moralfags really this dumb? They're whinging about a call for murder on a board for the flagship "anonymoose" monetary exchange system designed to protect assassins and drugdealers.

>b-b-but you can't kill him, h-he did n-nothing wrong.

>> No.134895

>>134888
0.1ltc, 0.02btc, all i've got left to my name after losing all my goxfunds. 350 btc and like 600 ltc have been in my wallets, now i have fuck all, except a new car, which is shit. it's also japanese, which rubs soy sauce into the wound.

>> No.134901

>Mt. Gox officials did not answer the telephone or respond to email requests for information. The concierge at the home of the chief executive, Mark Karpeles - an upscale apartment in the Shibuya district - said he was not answering his intercom. His mailbox was so stuffed with mail that the flap would not close.

So, what tropical island is he sitting on, enjoying his riches?

>> No.134903

How to spend prepaid visa and buy btc?
Fuck the fed.

>> No.134906

>>132936
He's only tellin' jokes, m8. With that said, being the highest public exchange by volume also helps.

>> No.134911

>>134877

must have overread it.

nice dubs!

>> No.134912

>>134487
lol everytime you losers quote the price gets higher, as prices get lower/higher it becomes harder to buy or sell because the volumes start to get small and the time window is almost nothing, and the highest it ever got was 1200

>> No.134913

>>134868
Potential investors include a man who recently just acquired 700k coins from honest dealings.

>> No.134918

>>133013

>Bitcoin is unsafe as fuck, and there are no laws governing it.
Gold hoarding was banned by the US in the 40s. Does that make it safe?
>Only reason why we went over 250$ was China, and they said no. Russia said no, and few other shitholes banned it too, and we are still this damn high?
Yes, because as you said, they're shitholes. You honestly think Thailand has a considerable impact on a digital currency? A digital currency, mind you, that all they have done is say "no guys you can't use it"?
>This is no real currency, it's a gamble and most people are going to get burned hard.
Until it reaches 21 million. See you at the moon, m80

>> No.134919

>people think this is about bitcoin
>not realizing this is about Mt.Goy

Bitcoin is okay. Other exchanges don't have a problem.

>> No.134920

>>134559
There's still a very hard bottom on house prices, I know went house shopping last year. They'd rather tear houses down than sell them for too low.

>> No.134922

>>134919
>Other exchanges don't have a problem so far.

FTFY

>> No.134924
File: 2.28 MB, 1613x1210, dealwithit.png [View same] [iqdb] [saucenao] [google] [report]
134924

coming through

>> No.134927 [DELETED] 

>>134924
Won't he have to pay a lot tax for it though?

Also buying a supercar is so new money. It's embarassing.

>> No.134928

>>134919
Except each and every one of them have the power to do gox shennanigans themself. It's just the matter of when they're going to cash in their checks.

>> No.134930

>>134901
One without any extradition agreements.

>> No.134932

>>132444

as a regular /o/ visitor i can confirm that it was in fact legit and the guy had been posting about the run-up to buying it up until actual purchase about it

>> No.134934

>>134932
This, plus he posted the bill of sale.

That said, there's no proof that he wasn't a richfag already, bought bitcoins, and then did the transaction.

>> No.134936

>>134860
nah, no potential, board moves too slow for maximum asspain. Mods will get to this and ban/delete all involved

>> No.134938

>>132522
>tfw theyre probably both pedophiles trading btc and cp

>> No.134939
File: 93 KB, 1048x388, bitcoin.png [View same] [iqdb] [saucenao] [google] [report]
134939

I hate to say I told you so /g/, but I told you so. Hopefully you children learned a valuable lesson in all of this.

>> No.134942

>>134930
Is there such a place?

>> No.134943

>>134922
>>134928
>I have the ability to commit fraud, therefore I cannot be trusted

>> No.134945
File: 334 KB, 1635x1076, kek.jpg [View same] [iqdb] [saucenao] [google] [report]
134945

>>134939
These fucking people, they deserve it.

>> No.134946

>>134927

he bought tangible assets when bitcoin was over $800

good investment

>> No.134948

>>134942
http://www.dailyfinance.com/2013/06/11/best-countries-no-extradition-edward-snowden-prism-nsa/

I'm sure you'll find minor tax paradises without extradition agreements too.

>> No.134949

Can somebody explain why this is bad and causing the price to go down?

(I mean, obviously it's bad for those with money in MtGox. But for everybody else?)

>> No.134964

So when do the murders start? I mean there's certainly unsavory characters holding bitcoin and the leaders of the site aren't unknown.

>> No.134965

>>134949
Simple. Same shit can happen literally anywhere else. Trust is gone.

>> No.134966
File: 21 KB, 523x242, LTC.png [View same] [iqdb] [saucenao] [google] [report]
134966

>> No.134969

>>134943
>I have the ability to commit fraud and no one regulates me, therefore I cannot be trusted
Yes. Exactly.

>> No.134970

>>134966

someone should tell him that he is poor now

>> No.134971

>>134949

Short answer: Because the exchanges functionally are the currency, since that's the only practical way to turn bitcoin into a currency you can buy lunch with.

Slightly longer answer: because it's scared people into thinking maybe these piles of bits on my hard drive AREN'T actually all winning lottery tickets like I thought, better unload them before the price drops any further.

>> No.134972

>>134949
MtGox failing is extremely damaging to the public image of bitcoin. The media will be all over this, with head lines such as "MAN LOSES $7,000,000 IN MONOPOLY MONEY OVER NIGHT IN MTGOX SCANDAL"

This means that bitcoins viability as this amazing internet currency is brought into question, if the BIGGEST exchange just disappears and takes everyones money with it.

Also could trigger government intervention, to prevent more events like this from happening.

>> No.134975

>>134969

Thats not how the free market works.

Other exchanges will know that people what security and offer services that provide it.
I got my coins on a platform that does only hold the bitcoins and never sees my money. I also pay out all bitcoins on personal wallets that I don't need.

>> No.134976

>>134965
>Simple. Same shit can happen literally anywhere else. Trust is gone.

MtGox has for -years- been regarded as terrible and the worse exchange. I don't understand this attitude. The other exchanges are demonstrably more reliable.

>>134971
>>134972
So basically just panic/fear.

>> No.134977

fuck this is why I invest in WoW gold, it's backed by Blizzard and the prices recently sky rocketed with the announce of the next expansion.

>> No.134978

>>134948
>kazakhstan
>fermented mare milk, futuristic architecture and cheap to live in
That's where I'm fleeing if I ever need to.

>> No.134980

>>132385
>getting scratches into someone else's Lamborghini

>> No.134988

>>134949
Because the exchanges are shady as shit, and it's hard as fuck to into bitcoin. This is just another nail in the coffin for bitcoin adoption(NEW PARADIGM!!!1one).

Bitcoinfags think that bitcoin will just constantly rise in value, not thinking on what it means for bitcoin to be a currency(used as an exchange between two parties) vs a speculative instrument. Further, it's NOT untraceable(coin tumblers help, but they're not the default, and possibly not foolproof), so it fails that libertarian ideal. Combine that with the high barriers to entry(ASIC mining, electricity cost), the ponzi scheme nature(first in, $$$$$$, last in? $), the ever widening wallet size(6GB and counting), the 51% mining attack, the sketchiness of these exchanges, some of which have been shut down for money laundering(even if Bitcoin is free'd by the FCC, that doesn't free up the institution's responsibilities), the slow speed of transactions(I think the network can handle 7 transactions a second max, some transactions supposedly are REALLY slow)and, well, it's a recipe for disaster.

Normalfags will never embrace it.
Silk Road is dead.

And keep in mind, Bitcoin is the first and most prevalent bitcoin. Altcoins almost all have NOTHING going for them. Most of them are just pump and dumps, very few bring any ACTUAL features to the table.

>> No.134991
File: 110 KB, 248x249, 1393332326638.png [View same] [iqdb] [saucenao] [google] [report]
134991

Not a bubble :^)

capcha : aintshi call

>> No.134992

>>133140
>>133140


Jesus this thread is heart-wrenching.

My god. It's like, not matter what you feel about reddit itself... it's like watching your neighbors in a cargo cult dress up like GIs and walk around on the beach and built little control towers out of bamboo and fucking starve to death while you go spear fishing.

It's fucking sad.

>. I stupidly had my life's savings in bitcoin, and when the price started to fall, I converted to dollars and watched the price plummet. I lost $357,000. Not to try to earn a bunch of sympathy or anything but this was not only my money but it was going to be my 5 year old son's education fund which i took out of fidelity about 1 year ago to mess with bitcoins.

This is going to be profoundly damaging for bitcoin's reputation. This thread right here.

>> No.134995

If Mt Gox founder was smart enough to make Bitcoin, why is Mt Gox a shit from beginning to the end?

>> No.134998

>>134992

Yeah, because not like anyone else has ever made a bad financial decision in any other market before. His decision to dump all his eggs into one basket had absolutely no bearing on the situation, amirite?

>gather round, overglorification tiem, kiddos!

>> No.134999
File: 79 KB, 436x589, what the fuck am I reading.jpg [View same] [iqdb] [saucenao] [google] [report]
134999

>>134995
>Mt Gox founder
>make Bitcoin

>> No.135001

>>134992
Don't feel bad for this guy. He's either totally bullshitting or an idiot with an inheritance. Who the fuck has three fifty large for their sons education by the time the kid if five.

>> No.135002

>>134992
>53.475... which, in essence... is my kids college fund.

>I really can't explain how I feel right now. something along the lines of sick, hollow, and heart broken. I get to tell my wife tomorrow that the +40k we had a month ago is now completely gone. I honestly don't know how I'm going to do it.

>>134998
You're such a seasoned veteran of life, how do you maintain your steely reserve oh wise one

>> No.135003

>>134999
Mark Kapeles is without a doubt Satoshi Nakamoto.

>> No.135007

>>134992
Can I buy account details from these people?
For example a looser from that thread sells me 20 bitcoins with rate 1BTC=1USD.

A month later Mt.Gox cames back again, and now I have 20 bitcoins with value 500$

Would this work?

>> No.135009

>>134756
Sorry, was thinking of Netscape versus Microsoft.

>> No.135010
File: 35 KB, 450x370, appleboy.jpg [View same] [iqdb] [saucenao] [google] [report]
135010

>>134939
>/g/

>> No.135011

>>135007
People were already doing that.

>> No.135012
File: 350 KB, 1366x768, gox.jpg [View same] [iqdb] [saucenao] [google] [report]
135012

>> No.135015

>>135007

creative. I like it.

>> No.135023

Bitcoin isn't real money, right? So technically, the hackers who stole 700,000 bitcoins didn't do anything illegal.

>> No.135024

>>135007
It really needs to be $1/BTC or lower though.
Because if that shit ever comes back up again it will go to single digits and stay there.

>> No.135025

>>135003
Why

>> No.135030

>>135025
Because people don't understand how domain registration works.

>> No.135034

>>135003
I know there is evidence to support the theory, but there is no way in fuck someone would be smart enough to make Bitcoin and then dumb enough to spend years ignoring the transaction malleability issue that was well documented.

>> No.135035

>>135023
Arguable. You could call it theft of a collectible that has value, for instance.

>> No.135036
File: 43 KB, 255x233, sophisticatedadults.jpg [View same] [iqdb] [saucenao] [google] [report]
135036

>>135002
He probably maintains it with a diverse stock portfolio and investments in various other things, such as bonds, precious metals and/or real estate.

>> No.135038

>>135023
They're a tradeable commodity, though. So, yes, it is illegal.

>> No.135046

>>135034
Do you have how retardedly single-topic-focused CS grad students are?

A typical grad student know everything there is to know about parallel processing, but can't write HTML to save his life.

>> No.135052

>>134988
this

I could have said it better myself, but he said it pretty good so i wont

>> No.135054

>>135023
Dunno, can you be arrested for stealing golds in wow?

>> No.135055

This is just too fucking rich. Countless threads over the months warning people about Bitcoins, only to get responses like "lol u got sour grapes bro?" This is great.

>> No.135058
File: 32 KB, 808x98, people are dumb.jpg [View same] [iqdb] [saucenao] [google] [report]
135058

Are these people fucking serious?

>> No.135060

>>132860
PROTIP: Professional broadcast-quality Beta shares little in common with consumer-grade Beta besides the name.

>> No.135062

>>135058
>people actually think there is no risk involved in this type of merchant tier money making

they dont even understand that risk is the only reason there is money to be made. they arent producing shit.

>> No.135063

I told you about Mt Goy

http://www.youtube.com/watch?v=pWa0dZMHYeE

>> No.135065

>>135058

"(buy low...sell high)"

7/10, subtle

>> No.135066

>>135058
Looks like he's still in denial.
Reality will come through to him eventually.

>> No.135067

http://www.youtube.com/watch?v=036azMkNIF4#t=230

>> No.135076

>>135058
>not realizing this is all trolling

I'm sure there's many people losing some thousands of dollars, a few losing tens of thousands and the odd retard losing his life savings of $100k, but there aren't that many redditors being able to invest hundreds of thousand of dollars as people posting in that thread.

>> No.135081

>>135058
>Are these people fucking serious?
Yes, here in Norway for instance, banks sold investment packages funded by loans designed to have interest rate than actual yield.

While not as bad as selling bets on loans not getting paid, it's pretty fucking amazing what people will buy as long as there's a miniscule chance of profits.

>> No.135087

>>135025

Because the 95 paper from the nsa detailing cryptocurrency in its entirety is still not very well known.

>> No.135088

someone needs to do a bitcoin version of this:

http://www.youtube.com/watch?v=N3q5NyxI8nk&t=02m25s

this. fucking. video.

>> No.135090

now that bitcoin is dead......I want to see some of the users follow the same route :)

>> No.135092

>>134992
>profoundly damaging for bitcoin's reputation

> profoundly damaging for some immature and unwise wannabe investor's reputation.

I went ahead and fixed your typos there chief.

Stock market crash in 2008.... Really did some damage to the idea of owning "shares" in a company that are really worthless electronic records, not real money.....oh wait....

>> No.135097

>>135090
please note that bitcoin is not dead, just severely wounded

it will most likely survive, it's just a matter of how long it will take to recover (if it can recover)

>> No.135104

Why the hell are the other big Bitcoin markets staying steady at $500?

>> No.135108

I'm HODLing

mtgox can't touch my cold storage

I'm still up 10,000%

>> No.135109

>>135058

I can't even tell anymore. Part of me believes no one is that dumb, but then again it's plebbit.

>> No.135110

>>135104
Because people expected this to happen.

They've taken a hit with every new mtgoy announcement. Take them all together and that's the real impact.

>> No.135111

>>135104
Careful manipulation from whales?

>> No.135117

>Dat perfectly executed buy-wall at 400

>> No.135121
File: 41 KB, 842x338, 400.png [View same] [iqdb] [saucenao] [google] [report]
135121

>>135117

Oops, forgot pic.

>> No.135124

>>135088
Libertarians are fucking insane.

>> No.135125

I'd also like to proclaim that ANYONE who lost more than ~50-100 btc from holding all their coins on an exchange is fucking retarded.

I understand that lots of people did this so that they could cash out any time they would like, but keeping that much money anywhere besides your local wallet is just asking for trouble.

>> No.135128

>>135007
https://www.bitcoinbuilder.com/

>> No.135129

>>135104
HODLers

people who genuinely believe this is simply another bump in the inevitable road upwards.

there's a LOT of people, some rich, who consider $10K, $100K and higher bitcoins a possibility.

this doesn't need to be a certainty - just a possibility of that is enough to gamble some money, to buy more now, and to hold.

don't forget - what we see now is a repeat of at least two (or is it three) previous "bubbles". It peaks, drops quite a bit, but doesn't reach the previous low, and then remains (fairly) stable for some time, before bubbling up again.

>> No.135138

I just cashed 80% out, not bad for putting $45 in 1 month ago.

>> No.135143

>>135121
Where is this from?

>> No.135147
File: 5 KB, 659x158, Untitled.png [View same] [iqdb] [saucenao] [google] [report]
135147

>>135138
Forgot pic.

>> No.135148
File: 34 KB, 583x437, Untitled.png [View same] [iqdb] [saucenao] [google] [report]
135148

Oh boy.

>> No.135154

>>135143

http://bitcoinity.org/markets/bitstamp/USD

>> No.135156

>>135088

That was pretty cool. Completely implausible, but cool.

>> No.135157

>>135148
So, did he fuck his friend's wife?

>> No.135160

>>135148
>that username
WEAVE ME MORE, LOOM SPINNEr

>> No.135165

>>135157

Obviously.

>> No.135172

>>135157
that was the moral of the story idiot

>> No.135174
File: 24 KB, 308x282, 1393335354005.png [View same] [iqdb] [saucenao] [google] [report]
135174

>>135148
>account created 2 hours ago

>> No.135176

>>135148
so fake LOL

>> No.135194

FUD soundtrack:

https://www.youtube.com/watch?v=v0q2KZ4zrIY

>> No.135197

>>132382
The ignorance of your post speaks for itself, this is about one bitcoin exchange.

>> No.135202

>>135148
>Great story, but 99% chance of being fake

>> No.135203

>>135197

Imagine what would happen if the NASDAQ just closed tomorrow and they declared all stocks traded with them were worthless? Shitty analogy but that's in essence what happened here. The largest exchange just goes tits up and you're not expecting that to shake people's confidence of Bitcoin just a little bit?

>> No.135206

>>135197
Keep telling yourself that.

>> No.135211

>>135203

And since "confidence" is all this confidence scam has, once that slips...

>> No.135213

>>135065
I came right at this point. Can't stop laughijn

>> No.135216

>>135148
I was really hoping that the hugging would turn into fucking

>> No.135220
File: 149 KB, 1068x800, silly-gaijins.jpg [View same] [iqdb] [saucenao] [google] [report]
135220

guys whats happened to my money??? :((((

>> No.135221

>>135148
I proubably shouldn't be smiling so much, but dammit.

>> No.135223

>>134570
>that feel when you were an early adopter whose university dorms had no charge for electricity
> that feel when you cashed out for an average of 630 and thought it might actually get to the fucking moon when it bounced back and you had no coin and sold the rig
Meh, at least my phd is funded and no student debt when I graduate. I could have made maybe triple what I did but I'll count myself ahead and run with it afylter this.

>> No.135224

>>135211

This.

This is supported by nothing but speculation and confidence and once that is gone, say hello to 10$ BTC.

>> No.135230

Welp, it's up onto Slashdot, with several links.
Can't wait for Slashdot to grow to >1000 comments, and to peruse them. Always informative.
http://news.slashdot.org/story/14/02/25/1343235/mt-gox-gone-apparent-theft-shakes-bitcoin-world

>> No.135231
File: 57 KB, 500x500, 1391193343116.jpg [View same] [iqdb] [saucenao] [google] [report]
135231

>>135220
Are those google glasses?

>> No.135233

>>135220
>macbook
>google glass
>nikon 1

They deserved it.

>> No.135235

>>135231
They look like knockoffs. Not sure if both use a cord, though.

>> No.135237

>>135231

Yes. For the record, the correct way to greet a Google Glasses user is "Ok Glass, image search teratoma, I'm feeling lucky"

>> No.135239

>>134762

>tumblr
>all that edge
>euphoric

Yeah, nah. You're a cunt.

>> No.135259

>>135203
>The largest exchange just goes tits up and you're not expecting that to shake people's confidence of Bitcoin just a little bit?

You must be new here, bitcoin gets shaken up by the slightest of things this will bounce back though like always

>> No.135278

>>135259
>like always
>it always goes up
>it always goes up... right guys?
>guys?
>GUYS?

>> No.135289

So when it ALL comes down can I fucking buy a correctly priced r9 280x? Jesus FUCKING CHRIST

>> No.135294

>>135289
Well I bet AMD made a killing. They can use it.

>> No.135297

>>135289
Look for extremely cheap used 280x on market soon.

>> No.135298

Anyone using coinbase?
How fast are the transactions?
You can withdraw coins into your own wallet from there right?

>> No.135305

>>134294

cringe

this is such a typical grandstanding reddit tier submission

>> No.135318

I'm going deeper under Gox
There's not more coins in this town.
I'm going deeper underground
But I got to go deeper, got to go much deeper, yeah
Cuh-heh, they gonna wreck it down, yeah
Step do-do-do-dow-di-dow-di-down
Hey we're gonna bring it down, yeah

Some people with a pocket full of money
And an eye full of hate
Take a pleasure in destruction
Of the very thing that they tried to create
Somebody tell me why does all
Mankind only tamper and touch?
Have a habit where they-bite off
More they can chew
And now it's too much, down with the jews.

http://www.youtube.com/watch?v=WIUAC03YMlA

I am shit at this.

>> No.135319

Do you retards really think that bitcoin is dead? It'll be back at $1000 in a few months.

>> No.135326

>>135278
It has recovered from a worse crash than this one, what makes this ever so special? Bad media attention? Surely BTC hasn't seen any of that before.

>> No.135330

>>135319
b-but muh fiat and jewish banks

>> No.135332
File: 8 KB, 659x240, magic.png [View same] [iqdb] [saucenao] [google] [report]
135332

Guys he just wanted to trade magic cards.

>> No.135336

>>135330
I'm not denying that the jews are behind this, but they want it to go back up too.

>> No.135357

>>135319
weeks probably, maybe higher then now that Gox is gone.

I just bought 2 so , I guess we'll see. The difference between what I did today and what the idiots on /r/bitcoin have done is that I can actually afford to lose all $1000 because it's only $1000. It may pay double or not.

>> No.135361

>>135357
what exchange did you use?

>> No.135362

>>135297
>buying GPUs used for mining
Unless they really are EXTREMELY cheap, I wouldn't bother. Mining cards get wrecked pretty fast, since they're being run 24/7 on close to maximum load.

>> No.135365

>>135298

They are a great exchange, I just bought 2 from them. Takes about 4 days unless you link a credit card. Its' an ACH transaction essentially. They broker you through Bitstamp.

You can make paper backups of your online with coinbase or you can download to your own wallet. Or send them to another exchange where you can trade, or both.

>> No.135366

>>135117
>>135121
god i was so angry watching that happen. I was just staring at it while it bounced at 400.

I think that watching the highs and lows of bitcoin is what has made me stop believing in its usefulness. Anything that can be so easily manipulated is worthless. There is obviously no "real" value other than speculation when whether it goes under 400 & we flash-crash, vs it holds "stable" and we hike back up, can be determined by a few fuckers with basic trading knowledge and some cash.

>> No.135367

BTC newfag here.

How much does BTC normally fluctuate? Because it has hopped from $488/BTC to $491/BTC in a few minutes. Is this normal? And what is the lag in buying or selling BTC like on a normal day?

>> No.135374

>>135361
coinbase.

>> No.135380

>>135326
yeah and how much have you made off btc faggot?

>> No.135387

>>135367
>$488/BTC to $491/BTC in a few minutes

Man I've seen it range $150 in an hour, up and down, up and down. It's extremely volatile which is in a weird way normal to BTC.

Check DOGE or some of the other cryptos. I made a bitcoin profit trading Mint the other day, swung from 19 satoshis to 63 in 12 hours and back down to 33 or so. But those are just bagholders that jumped on the train at 45+ , they'll slowly sell off.

>> No.135389

>>135366

why are everyone talking about low of 400 when BTC/USD hit a low of 432? Do I have the wrong chart or what?

>> No.135391

>>135367
>Because it has hopped from $488/BTC to $491/BTC in a few minutes. Is this normal?
No. That's more stable than normal.

>> No.135393

>>135380
I don't trade BTC, I trade LTC since all fluctuations tend to affect it a lot more, and not much, only about 2k total and only 1k from trading, however all in all I've lost about $30 on trades during the entire time.

>> No.135397

>>135389
Bitstamp hit 400. BTC-e remained higher.

>> No.135403

>>135367
You can check it for yourself
http://bitcoinwisdom.com/markets/bitstamp/btcusd
Time interval means how much time each bar represents, you can see current and past fluctuation there.

>> No.135406

>>135387
>>135391
Thanks. Is there a crash course in BTC for newbs online? (I'm assuming there are a lot, I just want to know the best one or 2)

>> No.135407

>>135389

The price never went below 400, exactly 400. Some of the big players must have had standing buy orders at 400 to keep the price from crashing. It' s lost about a billion in market cap so far but those were just little guys. They'll leave, Gox will go away and the price will be $1500 by June.

Anyone that thinks Bitcoin is going away is crazy, time it moving forward and it represents too much in opportunity from secondary and tertiary businesses, not crypto-currency speculation alone.

If it stays stable around 500 over the next week I'lll start buying again. The more stable the more I'll buy up to about 10 or 15 hoping to profit 50-100% by June. If I don't, it will be OK because I can actually afford to lose what I invest.

>> No.135415

>>135389
stamp bounced up and down at 400 for about 10 minutes and then we went up up and away.

>> No.135418

>>135403
Forgive my ignorance, but can someone walk me through this interface? It is a bit overwhelming since I have zero fucking clue as to what I'm really looking at.

>> No.135419

>>135407
I also firmly believe that bitcoin is too big to die from something like this, as of now anyway.

If this trend follows suit with other exchanges though, we would have a big problem.

>> No.135421

>>135418

http://www.investopedia.com/video/play/candlestick-charts/

>> No.135426

Shit is only too big to die for a limited period.
Eventually the small fish will be tired of losing money.

>> No.135428

>>135419
They just need to confirm they have the bitcoins

>> No.135429
File: 23 KB, 1240x82, Capture.png [View same] [iqdb] [saucenao] [google] [report]
135429

>>132353
>http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft

YOU DONT SAY, WOW SUCH A SHOCKER

>> No.135430

>>135418
http://bitcoinity.org/markets/bitstamp/USD
Maybe that'll be easier to look at for you. The line is the average price, green and red areas represent fluctuations.

The numbers on the right are the price marks for the line, the numbers on the left are the trade volume indicators for the bars.

The lower half shows at what price people are willing to sell/buy how much.

>> No.135431

>>135418
>http://bitcoinwisdom.com/markets/bitstamp/btcusd

http://en.wikipedia.org/wiki/Candlestick_chart

You're not ready to think about trading. A fool and his money are soon parted, do not go where only a fool would.

>> No.135433

>>135421
>Bookmarked
Thank you anon. I hope this board stays, because you guys are helpful.

And I really want crypto threads out of /pol/

>> No.135435

>>135418
http://stockcharts.com/school/doku.php?st=candlestick&id=chart_school:chart_analysis:introduction_to_cand

Or just google "candlestick chart"

Once you learn to read them you will be amazed at the information that is transmitted in those damn candlesticks.

>> No.135442

>>135419
>If this trend follows suit with other exchanges though, we would have a big problem.

Not as big as if all the banks crashed in 2008, but they didn't.

Since 2% of bitcoin wallets control 98% of all bitcoins you won't see a crash, those guys are sitting back and letting the little fish sell off. Then they are going to buy them back up and push the price up. As things stabilize and the public realizes gox is gone the general consensus will be that Bitcoin is stronger.

>> No.135445

>To avoid a bank run from customers, the daily amount of bitcoin and cash withdrawals will be limited.

oh boy here we go!

>> No.135447

>>135442
>Since 2% of bitcoin wallets control 98% of all bitcoins you won't see a crash, those guys are sitting back and letting the little fish sell off.
I'm not sure how you don't see the problem with that.

What happens when those 2% are eventually left alone with their bitcoins (all the smaller traders sell, they buy up everything)? Or when a few of them cash out?

>> No.135448
File: 313 KB, 700x700, 1386284524522.png [View same] [iqdb] [saucenao] [google] [report]
135448

baw haw haw

"Mt. Gox collapse threatens Bitcoin economy"

http://www.latimes.com/business/technology/la-fi-tn-mt-gox-collapse-threatens-to-bring-down-bitcoin-economy-20140225,0,2841826.story

I hate to say I told you so. But then the bit people were spamming pol for months. So naturally I am having some childish schadenfreude right now

I do feel bad though. They were probably the same crowd buying gold at 1800. Its the hard way to learn, but at least they are smarter now, and thats priceless, so they can have some cheer in that. I just hope they arent losing much. No one wants to see beginners suffer and lose resource.

And now some mood music

http://www.youtube.com/watch?v=Uz1Jwyxd4tE

>> No.135464

>>135448
jokes on you, I've never bought a bitcoin but have 15

>> No.135467

>>132776

Except Valve doesn't because the buds were only for a limited time, no more have been added to circulation.

All the buds being traded around are from the small amount of OSX users that launched the game for a couple of months in 2010.

It's also why the Tux is untradable.

>> No.135476

What's funny is that these other exchanges sat on this information and are just now getting into damage control. Of course it's not like these poor suckers could do anything since they can't withdraw their own money anyway but still, they just threw in this live grenade while hundreds of millions of dollars are lost. Some community, huh? A fool and his money are soon parted.

>> No.135497

>>132499
Ahem
http://bitcoinwisdom.com/

>> No.135518

I told you bro, I told you about butcoin.

>> No.135521

welp, this just cost me my car insurance, which i can't pay now, my phone is being disconnected, i have fuck all to eat and i've got nothing, not until mtgox comes back, and gives us all our money, with interest. which they will. any moment now.

outb3 "don't risk money you can't afford to lose". in order to acquire sufficient money that i could lose some, i had to take a risk.

everything is fine. i'm definitely not going to get drunk and kill myself.

>> No.135523

>>135447

2% of the world's population controls 98% of the world's wealth.

This is nothing new and only a microcosm of reality. So either you are neutral about this fact or you support cryptos even more because they give a chance to fight that reality more so than our current economy. It may start out as a mirror of life's lopsided wealth distribution but it might not stay that way, as everything else has thus far.

>> No.135539

>>135523
>2% of the world's population controls 98% of the world's wealth.
And? Not comparable. I don't need buttcoins to pay my taxes or shop at the supermarket. I DO need fiat though.

So when 2% hold almost all buttcoins, then eventually the rest might just bail out of them.

>> No.135544

>>135318
apt, seeing as though this was the soundtrack to Godzilla, and Mt Gox is based in Japan

>> No.135546

Another question:

A wallet like coinbase just holds my currency, while markets like bitstamp allow me to buy and see those coins, correct?

And for a newcomer what wallet/market would you recommend?

>> No.135552

>>135539
>2% hold almost all buttcoins,

>then eventually the rest might just bail out of them.


That doesn't make any sense. If 2% own almost all then who cares what the piss ants do. They don't control anything.

>> No.135556

>>135546
>A wallet like coinbase just holds my currency
Ideally, an offline wallet holds your currency. Otherwise, you might end up like those fucks who lost thousands of coins in mtgoy.

bitstamp is a market where coins are bought and sold. Coinbase buys and sells there for you.

>> No.135562
File: 55 KB, 625x352, poof.jpg [View same] [iqdb] [saucenao] [google] [report]
135562

I hate to ask because I can probably assume the answer, but what does this mean for the future of other VCs like Litecoin and Stablecoin and whatever the heck else is out there?

I'd like to see VCs work, and these smaller players seemed to be legitimate. Or is success as currency VCs own downfall.

Look at this if you like.

"Why Bitcoin Must Die. Long Live Bitcoin 2.0."

http://www.forbes.com/sites/billfrezza/2014/02/07/why-bitcoin-must-die-long-live-bitcoin-2-0/

>> No.135563

>>135552

But bitcoins are not wealth. They're not legal ownership of land, facilities, or property of any kind.

Some tiny fraction of the population owns Confederate dollars, too.

>> No.135565

>>135552
>If 2% own almost all then who cares what the piss ants do.
The piss ants and their demand are all that give those coins value. The 2% aren't willing to hand over their coins to anyone, they just gobble up more. Now, what when the last seller is gone and trade essentially stops?

The alternative is that those 2% shove the coins to each other and no one else gives a shit.

>> No.135567

>>135556
>end up like those fucks who lost thousands of coins in mtgoy.

I never understand this shit, all they had to do was create a wallet on their home computer and send their coins there. Paper backup of the private key and boom, fuck Goy, they can't do shit because my coins are in my wallet.

>> No.135568

>>135556
>Ideally, an offline wallet holds your currency.

How does one go about setting that up?

>> No.135579
File: 131 KB, 500x375, 4559755316_acbb4b3138.jpg [View same] [iqdb] [saucenao] [google] [report]
135579

>>135521

Get some part time for a weekend or two. You'll be ok.

>> No.135580

>>135567
>I never understand this shit, all they had to do was create a wallet on their home computer and send their coins there.
mtgoy eventually simply stopped sending them their coins. They were like "yeah this is a "bug" here, so for now, no one gets to withdraw coins." So the people who had them there to trade with them were fucked that moment... and those who were too dumb to get them out while they still could.

>> No.135584

How much did you all lose?

>> No.135585
File: 29 KB, 380x250, 1391843985622.jpg [View same] [iqdb] [saucenao] [google] [report]
135585

>>134939
>dumb nigger faggot ledditor doesn't follow the #1 rule of investing

Guess they should set up the suicide hotlines for the 4th time

>> No.135586

>>135568
http://www.weusecoins.com/en/getting-started
Check "software wallet".

>>