2016/06/28: We're halfway there! 2016/06/15: We've run out of space for images and need to upgrade our storage. Warosu is looking for a sponsor to support this effort. Email "haha at warosu" if interested.
Finally.Finally it's all over.
postin in a sticky
toastin' in a sticky bread
rip cryptocurrencyWhy didn't you stop MtGoy? Now it's all ogre.
>mfw I've never owned monopoly money
Looks like I picked the wrong day to stop sniffing glue
Posting in bread
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 criminalshow can people possible support bitcoin?
So how long until he's killed by an angry neckbeard?
On behalf of those who did their research, and didn't delude themselves into buying a fake lottery ticket....We told you so.
>>132353>linking buttcoin.orghaha 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.
Everyone will now lose faith in decentralized currency. It truly is a sad day.
>>132381Haha did you see those protestors? They were going to limp-wristedly worry him to death; that's why mtgox is incommunicado.
>>132353Glad to be a part of sticky history. Thanks moot for the board
>how the pdf is reading to everyone with monopoly money right now
the dream is ded boys
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.>insolvencyhttp://blog.coinbase.com/post/77766809700/joint-statement-regarding-mtgoxpossible 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 sayshttps://www.mtgox.com/>downhttps://support.mtgox.com/>downsupport is on zendesk so they shouldn't be going down as well unless MTGOX IS KILL
please die, cryptocurrencies
as someone who never dumped money into bitcoin, someone explain to me what's happening
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.
>>132404the largest bitcoin exchange just went tits-upeveryone who had money or bitcoins in there is shit out of luckthis is actually good for bitcoin because _______
>tfw got out in the 700 markstay pleb
>>132407>incompetenceIt was all a ruse. They took everyone's money and ran.
>all these sourgrape fags coming out of the woodwork>HA-HA I TOLD U BITCOIN WAS A SCAMexchange != currency
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draftthis document was leaked literally 30 mins before mt goyim stopped trading and 2 hours before mtgox.com went blank completely
>>132410>largestlel no. bitstamp and huobi are larger
I don't think I ever had faith in a site built for Magic The Gathering.
Shut it down.
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...
This just means it's a good time to buy buttcoins at bargain prices. $488 @ coinbase currently.
>there is a sticky discussing buttcoins/cryptocurrenciesthis board is a fucking failure
>>132419is that so
>>132385What proof do you have this image isn't some cunt who'd rented a lambo for a day or something?
>>132434He's also made a lot of drug dealers very angry.
Everyone in the do/g/e threads are in the IRC drama channel also:[email protected]
>>132416>i-i-ts going to be fine>im going to be a b-billionaire any day now
>>132417Man, 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.
>>132443>the day they're failingno fucking shit. most of the time they're not even in the top 5
>>132434Didn'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 :(
>>132449I 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
>>132450>I'm going to be seriously worriedYou're not worried now? Even after all the problems with Mt Gox and Silk Road 2.0?
>>132443>no huobi>no okcoinhuobi's 24 hour is over 180,000 coins traded. more than mtgox -- the day MTGOX IS FAILING.
>>132441this board exists because the cyrpto shit threats were fucking up /g/and if you don't like it, leave
>>132459The 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.
>>132467they haven't been the biggest exchange or even in the top 3 for months.
Got my coins out like a week before they ended withdrawals. Thank fukkk.
>>132432You're still up gamma?
>>132450>Holy shit, Satoshi is going to have to come out of retirement to cover this oneGood, maybe someone will out the gook and he'll be burned along with Mark
>>132465mc'fucking kill yourself
>>132417lel mt gox is seriously insolvent.
>>132470One 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.
>>132480>he doesn't know /biz/ was created specifically because of dogecoin
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?
>>132461I'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 communitySo 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.
>>132484That 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.
>stealing all the buttcoins>now buttcoins aren't worth a thingSure, that's a good plan. I wonder who's shekels are behind this.
>>132484are 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.
has anyone mentioned huobi yet, they really need more advertising
>>132486I 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.
>>132492>750K worth of pure market uncertaintyAnd 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.
i wonder if anyone has already put up a hit against mtgox for fucking up their wealthi mean there are thousands of bitcoin richfags, right?someone had to do itlel what happens after the owner of mtjew dies?
>>132477Yea, I like to go cycling late at night. Like 11-12am.
>>132501If 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?
So who here actually had coins left on Mt Gox?
>>132397>filename is my reaction when gentiles trust their shekels with Mt. Goy.
I just dropped a grand into 2 Bitcoins so... let's see what happens.
>>132516that has absolutely nothing to do with the statement that mtgox is not the #1 exchange.
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.
>>132521I had 8 cents USD left over from years ago when dwolla was a viable option.
>>132523You'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.
The bitcoins exchanges need a pooled insurance scheme. Why would any business want to take on this mt gox type risk?
>>132370>the real monopoly money is the fiat federal reserve notes in your pocket
>>132521i 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.
>>132444everyone is only 2 co-signers away from any car they want
>>132526And 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..
>>132508Unfortunately 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.
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.
>>132523Don't listen to them, anon. Buy and keep buying! You'll be a millionaire any minute now...
>>132527Yup. All by design. If it was easy than the federal reserve would be bankrupt by now.
>>132511Me too. You ride fixed? Pic related, it's my frame.
Can gox be sued?
>>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.
>>132542You had nearly $100K worth and never considered to withdraw some?
its genius. pure genius.unregulated industry, take people's money and run.based nippon
Uh-oh>Mt. Gox has confirmed it will file bankruptcy in private discussions with other members of the bitcoin community.it's actually ogre guyshttp://recode.net/2014/02/24/the-mt-gox-bitcoin-exchange-has-disappeared/
>>132580the 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
>>132569That'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
>yfw this causes DOGE to go to the moon
>>132536I did what you said... just sold... lost $100. Sucks, oh well... at least I didn't lose $1000!
>>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 keyscan you not transfer BTC for USD?
>>132596You'll feel fucking brilliant about it in 24 hours if/when this leaked document is generally accepted as true.
Shit's going down fast.
>>132601It 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.
>>132549Good 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.
>>132601because 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
>>132603Nothing beats the anticipation and confirmation of an uncertainty swinging in your favor.
>>132613(tens or hundreds per DAY on a ATI 5970 at only the cost of electricity)
>>132607This is just doge coin doing a gravity assist to the moon
Don't you have random blue board people to ban?
>>132616would it not make sense to mine the coins in a country where electricity is cheap?
>>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.
>>132558Probably 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.
>>132385I 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.
>>132622yes, 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.
GETTING READY TO BUY SO HARD.
its finally over, mt. goy is kill.Time for a new age of prosperity in a gox-less 2014
Trust Jews, they said. They're good with money, they said.
>>132622Fuck that, just mine on someone else's dime.
>>132636Same. Getting close to my buy point already.
>>132630that 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.
>>132648what 'appen 'ere'?
How many bitcoins did you lose today?
>>132538I 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!
>>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.
>>132379I 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.
But mtgox has everyone's private information. It seems like they'd know exactly who fucked them over.
https://bitcointalk.org/index.php?topic=485924.0wolong is an angel compared to the mt.gox owners.
So what does this mean for the future of Bitcoin?
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?
>>132677(Read 120 times) wonder how much traffic came from /biz/ lurkers
>>132683its uncertain, highly volatile, unregulated and makes little sense when thought about logically.so nothing new.
>>132685he could buy gold with it
>>132385>>132385>>132385NOW IN ORANGE>>>/g/40506073>>>/g/40506073>>>/g/40506073
>>132685>>132693wanst part of the point of bitcoins that you could trace them? they are all unique.
>>132353It is finished.
>>132443Where do you get such data? Mine is better.http://www.cryptocoincharts.info/v2/markets/info
>>132696yeah but you could always buy gold from somewhere like chinathe gooks could care less whos giving them money
>>132561>Guy's gonna have to live in a panic room for the rest of his days thoughHe will answer the phone with HOW DID YOU GET THIS NUMBER!?!? until he dies
>>132683Nothing. 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.
>>132685He 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.
>>132717so why not just declare bankruptcy? why is he hiding from everyone?
>>132722he's afraid some of the depositors will pursue "extralegal justice"
>>132717>someone discovered they could perform double withdrawals due to Gox's incompetencecan i get a source for this? ive never heard that happened. not that i dont believe you, just want to read more
>>132722A lot of people just lost a lot of money. He would want to hide while he deals with this in private legal courts.
This is the table that was redacted in the leaked pdf.
lol Bernie Madoff with my money
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
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.
>>132730>income statement>no balance sheethahahahahahaha oh wow
>>132726Look up transaction malleability for morehttp://finance.fortune.cnn.com/2014/02/21/bitcoin-transaction-malleability/
>>132545Mt. 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.>>132549Price 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.
>>132725>>132727i'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.
>>132737This 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.
>>132736shill out you kikejust go to btce
>>132707You 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.
Good thing i bought 30,000$ worth of NeptunesCashingOutRightNowAt900$/BitcoinFeelsFuckingGood
>>132746nothing is as it seems in bitcoin. you can never be too paranoid.don't assume the representatives of the organizations are who they are.
>>132731lol more like EMPTY Gox amirite?
can someone give me a tl;dr?
>>132554Whoa, 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.
>>132583BTC is kill
>>132748>a venture involving bitcoinsfunding the Akron Buyers Club?>>132737>unless dogecoin has some Abrams tanksCan't be any harder than sending island coons to Sochi
>750,000 stolen coins
>>132763nobody 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
toppest of keks
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
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...
>>132771except valve can print as many headphones and keys as they want. that's not possible with bitcoin.
>>132769explain who she is so i can enjoy the full keks plz
>>132527Why 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.
>>132767>>132763>beleiving fake FUD documentslovingeverylel
>55 MILLION DOLLARS IN BUTTCOINS MISSING ITS FUCKIGN OGRE MAN
>>132760Hmmm depends what you mean by UW. What makes you say that anyway, why does that guy give off that impression?
>>132759I 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 economyI think its bad times, but not doomed
Meanwhile I made a cool 750 bucks today off my stake in Tesla.Invest in a company that makes something. Works for me.
>>132769context motherfucker.do you have it?>>132761'no'
>>132385>>132672>>132642>>132630thisSA got burned fucking hard they deserved it too
Apology for poor englishWhere were you when bitcoin dies?I was at home sat on couch when Mark Karpele ring"Mt gox is kill""No"and you?
>>132664yeah, and they are worth less money now. In fact, they will never go up in value no matter what. Sounds good, right?
>>132737>it will hold no true value.False. Bitcoins ability to be worth even $100 proves you wrong.
>>132790you didn't really make the money until you sell the stock. You also have to account for inflation wile you were waiting
>>132771>unregulatedValve 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.
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.
>>132353>mfw>my fucking face>oh god the delicious tears>i can almost taste them
>>132683short term? fearfags dumping due to fear 'zomg we goin to 0 nigz' FUDmedium term? bounce back to 1k just like after silk road scandal and china crackdownlong term? moon landingThe 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.
>>132760Sounds 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?
>literally unsourced scribd document, aka /b/ tier ""information"">people believe it
>>132353May 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.
>>132589>mfw Doge get's shit on and so do all cryptocoins, because they're shit.Hahaha, It's gonna be a bright, brightbrightbright sunshiny day!
how many coins did you lose?
>>132513Reminder this is an SA Meme.
>>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
>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.
>>132785So really, a ton of people lost a ton of bitcoins, about 750k BTC in total?Damn..
>>132804the media isn't really going notice because the people that lose money on gox are degenerate gamblersI'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 conclusionIt's not like Mt Gox had a good reputation it was just a fun place to gamble
>>132808keep dreamin' bitch nigga
>>132827mtgox even lost the degenerate momo gamblers in the past couple months. they all moved to bitfinex
>>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-sheetand fuck am I stoned right now
>>132737Gold.Your argument destroyed in a single morpheme.
>>132826that'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
>>132798>they will never go up in value no matter whatYeah, and crypto's doin' great.I can take my 2 $5 federal reserve notes and hop down to the corner store and buy a pack of smokes and a pint of vodka.What can you do with your crypto currency with such convenience?
MODS, PLEASE MAKE BOARD THEME WHILE WE WATCH THE SPIRAL DOWNWARDShttp://www.youtube.com/watch?v=XVekJTmtwqM
>>132737Who "protects" the value of gold?checkmate.jpginb4 muh real objects
>>132709>Crashing atmI might invest like 50$ at the low point
>>132498>It doesn't change the fact that crypto/bitcoin is a revolutionary technology.So was Betamax.
R E M I N D E REMEMBERM T G O XTGOXH A SASB E E NEEN DIRECTLYRESPONSIBLEFORMARKETMANIPULATINGBITCOINFROM1$TO1200$WITHOUTGOXITNEVERGETSPAST10$WITHOUTGOXYOURCOINSAREWORTHLESS
>>132737I'd rather have chaos in control than people. It's more fair.>le edgy joker speech
>>132630The creator is associated with SomethingAwful and Reddit SRS. I don't have the documentation on me right now, but at some point I screencapped them talking about it on SRS.
>>132823yea cos singapore look after people who make banks fold10 points to anyone who gets this image
>>132850Pleb consumers went to VHS. Industry professionals stuck with Beta.
>>132485>Doge fags are still acting smug when they know their hobby is going to shitAt least now I can buy a fucking graphics card for, you know, graphics.
>>132854It's incredibly obvious to anyone who isn't retarded and has spent 5 minutes on the internet following any of these communitiesSRS/SA are bitter as fuck because they were laughing at 'dumb libertarians' who bought bitcoin at 0.10$, at 2$, at 100$, at 262$, etc ;^)
I'm laughing at all you pathetic fucks who actually invest in this crypto non-sense. You got what you deserve.
>>132861you'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.
> <+Lasseter> All the staff were fired today. They probably just switched off the servers on the way out.
>>132416>exchange != currencyThat's okay because bitcoin != currency either.
>>132810except mt goyim followed their predictions a literal tee within a half an hour of the document being leaked
>>132799I 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.
>>132737you 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
>>132827It'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.>>132851Nice 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.
>>132854butterfly labs owns it now
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.
>>132868Just found the name, the name is Killhamster. https://twitter.com/killhamster
>>132832can anyone with more knowledge tell me if this is a viable idea or not?i feel like i'm missing something
>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'
>>132783He 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.
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 RetardWhat 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.
>>132892having 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.
>>132875Nothing "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.
>>132797You 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.
>>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
>>132906the>it's happeningcrash stickies were pretty consistent indicators of bottoms :^)
>>132901I 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.
>>132859Nick fucking Leeson
aww shit my /biz/antynes, opportunity knocks for those of us who missed the train the first timewhen should I buy in goyim?
>>132809No, 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.
>>132887hmm no seems plausible
>>132918>what is inflationload of good that currency does you xD too bad the state doesn't mandate prices too ;^)
>>132875the value is the network itself, a simple public ledgerWhen 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.
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)
>>132353top kekSo many neckbeards fell for this bullshit. Same thing with dogecoin and all the other coins. Pure ponzi shit.
>>132895how? i'd have thought the price went up when more establishments started accepting them as payment
$1000 coins by Friday, you heard it here first!
>>132941Ur gun get fukt
>>132920You get 10 points sir!
>>132928I'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.
[happening intensifies]>2:20 PM TokyoNews of Mt Gox insolvency hit a boiling pointBITCOIN PLUMMETS TO 485.55>5:15 AM LondonMt Gox Crisis strategy draft hits 44,000 viewsEarly birds from London wake to hear the news and SELLBITCOIN hits a new record LOW of 466.01 >1:06 AM, New YorkPanic spreads to NY hour past midnight, alarm bells ring, everyone tries to get out before the nation wakes to hear the horror
>>132955Wait, how can it be a record low when the coin began last year at less than twenty bucks?
>>132887that is basically the same basic theme that has been reguiritated about the last monthbasically my take is that, far from being and evil mastermind, most likely Gox got hacked, hopefully not as bad as everyone thinksyour theory does require all the market participants being played like fools, not impossible, but to me its unlikely
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 exchangelel
>>132958Record low for 2014.
WHY DID ANYONE TRUST MARK KIKEPELES IN THE FIRST PLACE!ONCE AGAIN, SOMETHING BEAUTIFUL WAS DESTROYED BY THE GREED OF A FUCKING JEW!
>>132929No. 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.
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.
>>132959And deleted their twitter? Nice try Schlomo
>>132975>i have no idea what i'm talking aboutso someone can steal your money when they get a piece of your hair?
>>132959apparently the DHS is involved as wellhttp://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-now
>>132353 the redacted slide http://imgur.com/r/Bitcoin/8YbVJTc
>>132965Then that's a shitty measure of a record.
>>132955>Margin CallMy nigga with good taste
>>132838I 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.
>>132978NP. I read his book while on holiday in Turkey last summer.
>>132995Can do the same shit with PayPal.
>>132975W-what would be the purpose of that? There's no reason for that to come about.
>>132976Did you not check their twitter?
with all these missing coins, will the price of the remaining ones rise?
>>132995That'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
>>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.
>>132929Gold 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.
>>132929Well, 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
>>132954you 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
>>132958its five years old dude
>>132941How many BTC do you have to unload? Be honest.
in the last year:>bitcoin goes up 40x. that's 40 TIMES.>gold drops 25%>all the gold bugs gloating in this threadtoppest of keks
Can someone just explain what happened with the 750k of Bitcoin? Mt.Gox stole them or someone else stole them or what?
>>133013>there are no laws governing it.that's not exactly true. a lot of dudes who believed that are in jail now
>>133016>gold has value because muh electronics and alloysButThat'sWrongIF gold were valued on it's OBJECTIVE ELECTRONIC VALUE it would be less than 1/100th the current priceGold Has Value Because It's A Hedge Against Fiat
>>133009No 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.
>>133016BzzzzzzzzzzzzttttttttttttttttttWrongGold 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.
>>133009That 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.
>>132995>I actually just sent over two grand>I mean 1,999>1,998>1,997
>>133038>SA memes out in full forceWow, 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 TwitchPlaysPokemonGoons seem pretty butthurt recently.
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.
>>132972>not finding the bitcoin network useful>not finding it more useful than gold, when you admit you don't even like gold>k
>>133040I 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
>>133040well, 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
cryptocoin?more like crypokikecan the keks even get any topper?
>>133043Why all the fud?You mad bro?
Wait. They stole $750million?I never knew it got that big.
>>133031In 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!
>Spending REAL FUCKING MONEY on FAKE COMPUTER DATANICE GOING FATASSES
>>133072>IT'S ACTUAL VALUEtop kekstatist SRS/Tumblur liberals LOVE to spew this shit>bb--b-but the 'true value' is what ***I*** AND ***PEOPLE LIKE ME*** THINK IT'S WORTHNEWSFLASHTRUE VALUE = WHAT THE MARKET PRICE IS
Question for someone who doesn't know much about cryptocurrencies:Did everyone currently holding Bitcoins from Mt Gox lose all of them?
>>133075meanwhile, xrp toils away silently for this shitstorm to brew over. I give it a year, maybe two at most.
>>133000depending on your jurisdiction and if paypal deems your activity to be legitimate
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.
>>133089see>>133058the debts outweigh the holdings
>>133081>i bought gold from glenn beck why did i lose all my moniesyeah, no.
>>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
>>133072>Gold is not a hedge against fiat. It's not a hedge against inflationThe Market. DisagreesHistory. DisagreesLogic. Disagrees.
>>132925I 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.
>this threadso many goons literally from SA salty they couldn't make a profit :^)
>>133089If you have bitcoins in mt.gox, they're probably gone. If you got them out, good for you.
Magic The Gathering Online eXchangeThey magicked away all ur crypto-cyber-libertarian dreams, gathering cash all the while.
>>133092XRP 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.
Mods need to play this song on loophttp://www.youtube.com/watch?v=Fw5acgqIHQE
HAHAHAH It's diving below the point of last crash.Die you fucker.
badumm tshh q darude439 GET
>>132908Yes, go ahead and explain how some cryptocurrency is worth hundreds of dollars.>>132918With 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.
>>133108Could 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 youWhat a horrible fate.
>>133010http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_story_thread_how_much_did_you_lose/redditfags blown the fuck outpeople replying with dogecoins and sadface emoticons :( :(>mfw
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.
>>132353The 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 communityWe 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
>>133103http://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?
>>133107>upside>no talk whatsoever about how deep the downside rabbit hole goes(hint, it rhymes with hero).
>>133068Do 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?
>>133144Good thing i have bullets for that :^).
>>133120THIS! PLEASE THIS
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
>>133144How's that BTC going to work out when you need water and food and the internet is out?
>>133149Only a couple thousand $, but it's still quite a lot for a university student.
>>133095Realistically 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.
>>132870yeah 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.
>>133009Not really. Prices will go down due to the scare. Bitcoins is a currency, not a good. Things work a bit more complexly.
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.
>>133164Umm... 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.
H-H-here we go... less than 100 coins to <400
>>133056No, 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.
>>133168only 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.
>>133165That could feed a family for months in 80% of the world.
>>133167It could be a currency.But currency doesn't imply a value. It performs the act of currency at 1 penny per BTC.
As long as it doesn't go below 100 I won't have lost anything
>>133139It 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.
>>133139damn I'm a libertarian nerd but I didn't even pull off getting rich off of bitcoinkudos anyway
>>133063yeah pretty pathetic IMO, they can't get their daily required USDA allotment of attention.
>>133187you don't lose anything until you sell
>>133196>keep telling yourself that.
>>133196And if you're never willing to sell, you might as well have lost it already.
>>133180And in that hour it took to send/confirm, how far did the price drop? 5%? What a currency. So stable.
>>133159I hope it goes to $100 I really do, then I can afford some again, and I pay all my bills on the 1st.
>>133202>falling for the greatest shakedown of all timeishygddt
>>133212you forgot the ™ in Stable™. it indicates you're not from here, a /biz/antine emperor.
>>133212>MUH STABILITYLiterally worth hundreds of dollars. You are wrong, objectively. Its established, its out of state control. Why do you think governments are terrified of this and already moving to ban it? Because they care about their citizens? Hell no, this poses a massive threat to state power.
>>133214>value of BTC falls below 100$, and never ever recovers>holding onto BTC at a cost basis of 100$, "you don't lose money unless you sell">never having moneyThis 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."
>>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
>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
>>133226dream on fuckclown. blockchains are going nowhere.
>>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
>>133226top kek when crypto space is about to blow up to the uspisde
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!
>>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 crashValue 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.
>>133238>wasting harddrive space on useless 1's and 0's instead of porn/anime/games/music/tv/video/fucking anything useful
>>133246dat strawman lmao good night /biz/
>>133244ripple 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/
According to http://bitcoinity.org/markets/ Bitcoin hit $400 a few minutes ago.
>>133245>here is a very limited space availableyou can built up, populations aren't evenly distributed across land masses
>>133246>what is electrum>what is multibit
>>133262Yeah bought 20 bux worth at 403 or something like that. it's rising again.
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.
>>133265they invested because jed was at the helm.jed left.nobody gives a shit about ripple anymore.
>>/g/?task=search&ghost=&search_text=%22It%27s+not+a+bubble%22>But the bitcoin system works
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 thingCool 2010-2012 Era Bitcoin FUD bro, yeah Ripple is totes mcgoats not the thing to get :^)))))))))))))))))))) le sardonic smiley fais :^)
>>133289>implying ID's work
>>133289ripple 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.
>>133278So 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.
WHAT THE FUCKI JUST WOKEUPWHAT DOES THIS MEANSOMEBODY TELL ME STRAIGHT UP>im too lazy to open links
>>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.
>>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 :^)
>>133311Can you explain to me why development is important after the coin launches? What do they... do?
dump bitcoin, buy dogeyoure welcome
>>133319google stopped investing or even going to board meetings when jed left.
anyone else masterbating to this carnage
>>133326>buy into yet another pump and dump scam
>>133314Over the long term, housing matches inflation.
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.
>>133178Well 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 errorlel, the universe likes to keep things fun
>>133317mt. 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
>>133317>im too lazy to open linksThen you can lose your money.
>>133323ripple 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.
>>133167Inflation 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.
>>132558for a coin that is not regulated? >the perfect crime
>>133343Time to switch to counterparty. That's the difference with open source free software.
>>133328cool FUD brah, but you're gonna have to step it up in light of recent events ;^)
I hope that shit tanks so I can buy it up
>>132385>they're still mad /g/entoomen rused them from mining bitcoin in 2010 and 2011still trying to parse this but lol no, not mad. i've been laughing at bitcoins since the very start
at what point in the descent would be a good value to put it all on BTC?
>>133333you can trust me, goy :^)
>>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
>>133330i'm reading thishttp://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 dollarsis it better to gamble and lose, or be a NEET?
>>133349counterparty is not viable long-term, but is sure as fuck better than ripple.>>133350you 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.
>>133338>it wasn't compromisedtens of thousands leaked out of mt dox to god knows where, it's thoroughly compromised.
What happened on the 9th of feb? Russia banned transactions, anything else?
>>133317MORNIUNG BRITFAG I"VE BEEN UP ALL NIGHT
>>133358I'm sure now is fine, the panic is a rumor, truth will probably be at least a little better than this
>>133382bitcoin ITSELF isn't compromised you fucktard
HOLY STINKIN' MOTHERFUCKIN' SHIT BALLSI JUST CAME ACROSS THIS FUCK WHILE RANDOMLY CHECKING THE NUMBERS AT COINMARKETCAPHOW 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 SPEAKALL THE WASTED TIME......MY SWEAT.....MY BLOOD.....MY TEARS......MY MOTHERFUCKIN' MONEYYYYYYGOD CONTINUES TO MAKE FUN OF MEWHYYYYYYYYYYYYYYYY
>>133358Look 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.
>>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.
>>133393You have nothing to lose unless you had your money in Mt.Gox.
>>133393calm 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
>>133387First hints of something not right. I think that was the bitcoin transaction malleability gox issue.
>>133392a 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.
>>133405False>>133393SELL SELL SELL! C'mon man! SELL!>starts masturbating in corner
>>133393Oh 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".
>>133406>Storing ALL your bitcoins in one website>Wonder when this happensThat's what ya get
>>133406damn. makes me feel a lot better about my 100 shircoins that were locked up in there.
>>133405.. or if you owned any BTC
>>133416HAH 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.
>>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.
>keeping your money on an exchangethey deserve it
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
>>133414jesus 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 compromisedin other words you're basically saying that if a store gets robbed, the dollar has been compromised. stop being that retarded
>>133416run this shit to USD on calculator at ~600 2851200double checkyeh 2,8 million dollarstop motherfucking kek
>>133406>>133416Damn. That poor guy. That's about 3 million dollars if he could've sold them this morning.Dayum shame...
>>133439>i don't know what a ponzi scheme is but msnbc said it so i agreegtfo srs
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.
>>133440You 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.
>>133440Don'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.
>>133444He 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.
>>133438Can someone, perhaps you, explain the difference between keeping it on Mt Gox and keeping it in a wallet on your HDD?Seriously .. why.
>>133444Yeah I bet the guy with 200 tulips or south sea trading company shares thought he was genius at the time too
>>133440replace 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?
>>133461One is not secure and evaporates when Mt Goy doesOne is secure
>>133460Not months... I easily withdrew 320 BTC on 12/30.
>>133440Let'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 dissapearsCommence the bank run on all other banks
So can we blame this on the big banks? Who is going to jail for this. It's time for the 1% to pay.
>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
>>133461ask your grandparents why they kept money in their mattresses
>>133383what software do you use for that?
>>133461One you have control over. The other can shut down and take everything with them.
>>133450a 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?
>>133482Not him but:http://bitcoinity.org/markets/bitstamp/USD
>>133471banks are different because they do fractional reserve.it's more like a commodity exchange fails.
>>133478"A jew screams in pain as he punches you in the face"
>>133489>nonexistent enterpriseThat'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
>>133471Thankfully 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.
>>133461Simple.Keep your money in your own wallet, or tell some random guy on the street to hold your wallet for you.
>>133491>http://bitcoinity.org/markets/bitstamp/USD>That attempted propping up at 440How long until this get's exhausted.... =)
>>133463don't forget http://support.mtgox.com/
>>133494Only if that also takes out 1/2 the traders current accounts.
>>133480>>133502OK 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?
>>133478Seriously, 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?>>133489If 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.
They got their survival of the fittest system and found themselves the prey rather than the predator they imagined themselves.
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.
>>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
i don't get why karpeles just upped and left like thiswhy didn't he just continue insider trading on mt goyim then dump his coins on other exchanges for FIAT to regain solvencyi assumed that's what he was doing
>>133503Probably 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.
>>133516I think its similar to the same reason people keep money at PayPal.
>>133501True, 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.
>>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.
>>133516It'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.
>>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.
https://twitter.com/search?q=my bitcoin mtgox
>>133537its too bad NEETs cant jump from basements
>>133372nicemore for u https://bitcointalk.org/index.php?topic=486197.0>already dead
>>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
>>133537You sound new. Welcome to your first bitcoin crash watch, enjoy the show.
The ride NEVER ends.
>>133536>>133536OK .. 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?
Should I ditch my BTC now?
>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 usIsn't it funny how people desiring a "decentralized" and "free" currency immediately start trusting a select few exchanges with all their wealth?
>>133499>there's actual use and need for themsilkroad is gone, so there is neither
There are six Mt. Gox threads near the top of Hacker News right now.
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.
>>133536>They did it because they were greedy fucks, and they got what was coming.that applies to everyone with BTC.
>>133559No, 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...
>>133578better 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
>>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.
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?
>>133537that guy that lost 5000BTC, I linked him to this thread, maybe he will show up
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).
To anyone who lost money on btc, have u considered that NEETS are the dumb last money in of any bubble
>>133592I 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?
>>133598Never heard of Reddit??
>>133609It 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.
>>133618external auditors are not government agencies.voluntary audits are the free market at work.
>>133619And thus, in this moment I am euphoric. Now everyone else realizes that currency doesn't imply a value.
>>133619>It never was an currency, it was a GAMBLEfix'd that for you.
So....when is LTC coming to Gox again?
>>133602Extraordinary Popular Delusions and the Madness of Crowds
>>133607That'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.
>>133623granted, but the theme is oversight, accountability, blah blah blah
>>133592I 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.
>>133607>5000btchory shit... is there anything but the noose left for that guy?
> mfw I predicted this would happen two weeks ago.I love when greedy neckbeards get their privilege checked.
>>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
This is why I use Dogecoin.
>>133624Currencies 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.>>133625It was that too. It's still a currency.
>That documentHoly fucking shit, this is worse than I could have possibly imagined.There are some millionaires who went fucking broke today.
rumors on reddit swirling around that karpeles was last seen at the virtual office being escorted out by japanese police#developing
>>133643>only two weeksnigga we've known gox is stupid and in death throes for a while nowim certainly not panicking, this is all according to the plan so far
>>133617Yes, 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?
Short sidebar here: Couldn't this whole mtgoy mess with the missing money have been recognized with basic double entry bookkeeping and balancing?
Someone post the "spartans hold" image. I need to laugh.
>>133651They were never millionaires.If you don't have it in your hand, you might as well not have it.
>>133652that actually works in his favor.he's probably safer in police custody.
>>133663That'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.
>>133631Guarantee 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.
>>133100I 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?!
Those insufferable pricks in the /g/ threads are probably offing themselves now.> mfw they think they're millionaires despite never converting into fiat currency
>>133656An exchange isn't a bank and shouldn't be treated like one.
>>133660It could have been recognized with even the most basic bookkeeping.
>>133660yes. but that assumes some measure of competence and professionalism.
>>133668depends 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
>>133641for all you know he has 10 Mil in the Bank of America
>>133678Fucking redditors mang.
>>132846the fact you can always make jewelry with it and sell it for money clearly
>>133683noose it is
>>133683mtgox has 5.5 million stuck in Wells Fargo
>>133674And who is going to enforce that idea?
>>133683Not cashing out a ponzi scheme at the double top>top lel. babby's first bubble
>>133682Cryptocurrencies are pretty comparable to penny stocks, so fair enough.
>>133678I always thought this was such a stupid image. The Spartans held and what happened to them all? They died!
>>133167>can it still be a currency in 10, 20, 50 years?They aren't all getting mined until you're long dead.
>>133699that wasn't the point? It's not like NEET have the disposable income to buy more bitcoin once prices drop.
>>133686>then you realize jewelry's 'value' is all subjective if not for the market value of the metalsfyi 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
>>133567no 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 tooThe people there were "trading" like you see on FX marketsThat is why they didn't withdraw
>>133689The people investing in the currency should be aware of the fact their coins can and should be stored locally.
>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
>not being on the inside
>>133715you don goffed
(laid off) MTGOX EMPLOYEE "Delerium" IRC NOW ON [email protected]
>>133711welp thread over. We solved the media-social-bitcoin threat paradigm guys gj
>>133715>wait until things rise back up
>>133690the ting is, how do you KNOW when you're on top?
07:53 < Plarkplark_> Delerium, is that really Sarah?07:53 < Delerium> Plarkplark_: no thats not sarah - its a fake account07:53 < 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)
>>133379The 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
>>133709shit .. to trade 5000BTC is some serious madness, given the volatility of it.I mean it's extremely high stakes gambling there.
>>133372This 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.
>>133735shit's simple really. Once a breach to the top fails, sell evertyhing.
>>133750>He's going to ruin his fucking marriage over this shit.Fuck bitches.Acquire "currency"
>>133711Number 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
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?
>>133750The 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.
>>133754here you go 2.0
>>133750It'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
>>133750>He's going to ruin his fucking marriage over this shit.Yeah rip.
>>133763what if i told you a healthy exchange may not be healthy etc
>>133763It'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.
>>133729i tried joining that channel and it said it didn't exist wtf
>>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!
I think it got hacked by the chinese>16k bitcoin flowed into china in last 40 mins, just a coincidence?
>>133780not 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.
>>133781did you use two #s?
>>133763all 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.
Question to BTC fagsWhy 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?
>>133796is that weechat (weechat-curses)thought i was the only suckka using that client
This will bottom out at 300USD per BTC to loosely fit a linear path. Screencap this post.
>>133799opening bank accounts is surprisingly difficult
>mtgox plans to rebrand as "gox.com" to fix their imageWhy would they go with that of all things?Why not a better name that brings up no memories of their shitty previous incarnation?
>>133799not knowing about economy of scale through network effectjesus christ you faggots get dumber by the day
>>133800>is that weechatit's based as fuck irssi. using anything else is a sign you're a pleb.
>>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 gamblersits not like the entrepreneurs and developers that are building bitcoins startups lost money in gox, and these are the people that the media interviews
>>133792I'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.
>>133789Their 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
>>133808What's this then?
>>133802>Implying BTC has any value
>>133799BTCfags 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.
>>133799Getting 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
>>132536>Some scam site went down that everyone knew was a scam site>You're going to lose a lotUmm...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.
>>133818Gox was scammed for years.
>>133792they will accept bitcoin soob
>>133808Explain.. is this where all the money went? Wut?
>Trusting a site where the 'x' is one character away from 'y'
>>133828it is common knowledge that bitcoin is scam and I don't get it why people are using it.
I lost $300 =(
>>133829>Implying that wasn't an inside jobEither jewKarpeles is a fething moron, or it was done from the inside.
>>133763Because inherently, every other exchange have the same power to pull out this gox bullshit situation?
>>133834here, 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
>>133822I imagine there are thousands of Chinese factories mining coins. I mean shit they do it for Runescape gold.
>>1338182012 is merely the oldest date>>133836Pure 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.
>>133857Well why not when there is jack shit anyone can ever do about it?
>>133851Not 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.
>>133809I'm the person who posted that screenshot. Brofist. Bin using my main nigga irssi for over a decade.
ime of death: 11:00AM Japanese time 25/2/2014
>>133852I was just showing it is isn't necessarily the end of the world if you don't sell everything after a failed break.
>>133856Not thousands, but yes. Dozens of facilities mining this crap.Individual mining is long dead.
>>133869it 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.
>"Is there any proof that Godzilla might be involved?"Ahahahahah irc be cray
>>133857WE'VE GOTTA GET HOLD OF WILSON, AND TELL HIM TO SELLLLL
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 nothing08:32 <@emma> im a stupid waitress why did i think i could do this08:32 <@emma> i hate this08:33 <@money> emma never lose hope08:33 <@emma> i dont even understand bitcoins08:33 <@emma> i believed in what they said08:33 < sideshownz> emma: How much did you loose?08:33 <@emma> 120 coins08:33 <@money> emma stocks is the road to riches, don't lose hope. you can get out of it. you need to study hard8:34 <@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.
>tfw got rid of all of my bitcoins a couple of days ago
>>133900Never invest anything you can't afford to lose outright.
>>133891My 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
>>133907We're gonna need more sides Bob.
>>133900>08:33 <@emma> i dont even understand bitcoinsoh emma
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.
>>133159>Gox is done>Bitcoin rising like a pheonixWhat was the bad news again?
is emma [email protected]
Im surprised theres not alot of counter intel going on right now.Its like the thieves just dont give a fuck.
I'm shocked and disappointed by this. Whoever could've foreseen something like this happening?
>>133900Holy 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.
>>133900>A waitress is now 120 coins in debt>minimum $17,550 in debtBut here's the real killer>She doesn't understand bitcoins>but had admin for that channel
>>133920>Steadily declining>RISING LIKE A PHOENIXIt's going to tank a bit more before it goes back up
8:40 < SarahCoinBit> I'm trying to find out now08:40 <@money> SarahCoinBit: what's the ETA for withdrawals?08:40 < AndrewWhatsUpppp> SARAH IS BACK. EVERYTHING IS FINE FOLKS!08:41 <@money> lolol08:41 < CompNsc> At least we might get some info08:41 < 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 one08:41 <@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?
>>133900>08:33 <@emma> i dont even understand bitcoins>08:33 <@emma> i believed in what they said
(sarahcoinbit is a mtgox employee)08:40 < SarahCoinBit> I did not get fired and i have never posted in reddit in my life08:40 < Chillance> wait, what is going on?08:40 < p15_> SarahCoinBit why is mtgox down08:40 < usaoscoin> what on earth is going on....08:40 < SarahCoinBit> I'm trying to find out now08:41 < 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 one08:41 < heyyoo> 083228 -!- SarahCoinBit [[email protected]08:41 < SarahCoinBit> DeathScythe676: I can't do that yet sorry08:43 <@SarahCoinBit> Herodes: I work remotely. The system were down but somehave started to come back up. Am trying to find out what is happening??????????????????????
>>133938This 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.
08:45 < padawan123> hi sarah why the site is offline?08:46 <@SarahCoinBit> padawan123: I'm trying to find out
>>133900idi_amin_laughing_boat.gif[filesize too large]
08:45 < suseno> SarahCoinBit: is this legit? www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft08:47 <@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)
>>133900>and you will get sme of it i'm sure.>we will get it backdenial in full swing i see.
>>133926Yes who could have foreseen Magic The Gathering Online eXchange would be ill suited to handling millions of $$ worth of transactions
>>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
>>132370what separates fiat currency from digital currency in your opinion ?
>>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.
08:48 <@emma> SarahCoinBit: so why don't you find out when withdrawals will be resumed08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on and i ave no evidence whats so ever that anything dodgy has happend
>>133958MtG cards are much more viable currency than btc will ever be.
08:50 <@SarahCoinBit> tensai: There's nothing to come clean about08:51 <@money> the us will deal with this08:51 < funfare> great arbitrage opportunity right now with gox low.. does btc-E accept OK pay??08:51 <@money> the US gov will get your monies08:51 < wrostek> Yes, you guys are FUD mongering.. everything is fine
>>133963Backed by gubmint, not neets.
08:41 < SarahCoinBit> 08:43 <@SarahCoinBit>Wait a minute.
>>133979she got opped by another op
>>133967>08:49 <@SarahCoinBit> YabaDabaDoge: There is nothing to turn on>There is nothing to turn on
so what should be the official song of the great buttcoin collapse?http://buttcoin.org/this-is-how-royally-screwed-mt-gox-is-right-nowfuck me
>>132521deposited 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.
>>133982Not main screen even?
>>133668>what if i had 200 million in lehman bros back in 2007
>>133986screenshot 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.
The denial in these people!08:54 < wrostek> Seriously everything will be ok, the new code just caused a malfunction08:54 < 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.
>>133983http://www.youtube.com/watch?v=sBC_plvCRLk>>133981Wait i thought sarah could OP herself?What's to prove that it's sarah then?It could be somebody doing damage control.
>>133265>GoogleYou 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.
>>133963Fiat 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.
>>133986how much did you lose nigga
MTGOX HOME PAGE VIEW SOURCE>MTGOX HOME PAGE VIEW SOURCEMTGOX HOME PAGE VIEW SOURCE>MTGOX HOME PAGE VIEW SOURCEMTGOX HOME PAGE VIEW SOURCE <!-- put announce for mtgox acq here -->
>>133994i 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.
>>134002<html> <head> <title>MtGox.com</title> </head> <body> <!-- put announce for mtgox acq here --> </body></html>aw sheet
>>134002>>134009What does acq mean here?
>>134002>mtgox acq here>mtgox acquisitionI'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.
>>133995link to that channel
>>134002this just in: Mt. Gox sells out to some godawful bankBitcoins, now useable on your Chase cardbuy as much as you can now before the price explodes back up to $1500 again
>>133983http://www.youtube.com/watch?v=ZhbujyF3ZNIFirst 30 seconds of it.
>>134019acquisitionas in "Conglomerate A acquired Company B in a hostile takeover"
>>134021that might make sense. apparently their support page is still up on a different domain:https://mtgox.zendesk.com/homeif that's the case i wish i was verified on bitcoinbuilder
>>134033But who would buy them?
>>133976like ''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.
>>134038unsure, i'm not a programmer, perhaps that src code was there before the site went tits up
so buttcoin is dead?
doge reboundingi suggest you get in
>>13400909:02 < suseno> yes as I predict, Mark will sell his company. And somebody will bail out all customer fund then do rebranding...
>>134038a major bank obviouslytomorrow is going to be huge. Bitcoin will be going to the moon
>>134048It's a diversion to let Mark leave the country.
>>134054Or to a complete low if the bank doesn't offer proper refunds
>>134039You 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."
>>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
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 gox09:02 <+aliasaila> which leaves that shred of hope
>>134047Fuck off shill.I can't use your worthless meme coin to buy pain meds.
>>134039I prefer money I can buy things with.
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.
>>134047Already bought friend.
>>134064whatst the IRC channel bro
>>134059should 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.
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.
>>134075/pol/ images are deprecated on /biz/
>>134067>I'm speaking for /biz/ as a whole, and possibly, your families as well.stopped reading there7/10 good effort though
>>134080As expected from the rab/biz/ masters.
>>134072##mtgox-chat and #mygox-signalSecond one is quiet as fuck, first is a trollercauster.There was already a screenshot in here with that info...
>>134088alright i'm in. i've got my trollface on.
>>134067>empatheticof course throwing insults around, being condescending, and devaluing the people you want to reach out to would be the best option
>>134080Good goy disinfo
>>134077wat?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."
>>134079Yes I guess maybe if a big establishment like a bank got involved, then there would be more trust.
>tfw i had 1k btc on goxHaha, 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. ;_;
>>133439>everybody runs in before people cash out at the topThat is EXACTLY how the stock market works, and it is called a pyramid scheme. Ponzi schemes are not like that at all.
Investing in internet money was never a good idea
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
@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 THINGSCHEAP. CHINESE CHINESE, BITCOIN WILL NOT TRADE THAT HIGH NOW, WITHOUT CHINESE, YOU AIN'T ROCKS AND CHINESE KICKASSES. I AM CHINESE. wat
(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.
>>134121>this neware you from SA or /pol/? because you are clearly not a /biz/aintine general.
>>133462Yeah, 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.
>>134079buttcoiners will learn about regulations step by step
>>134100yes, 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.
>>134112It's standard strategy employed by scammers, delaying everything while they cash in their checks.Victims in denial usually laps it up right away.
>>134039The bank bailouts were all paid back with interest. Pay more attention.
>>134125/g/ and /sp/. i'm just getting hyped for tonights champions league matchesbtw you really need a better name than bizantines. how about biznessmen?
>>134144how about argo-fuckyourself
>>134144i 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#msg5154527he got SUPER MAD we made fun of his pandacoin by making a duplicate pandacoin
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!
>>134158StableShill! 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.
But to me it was obvious. Just looking at the html code of their website one could tell they used extremely poor programming practices.
>>134137oh .. 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.>>134152now you're talkin
>>134170>bit coinare you new?
fuck i got banned from the channel for trolling
09:32 < wrostek> Maybe Google Acquired themHAHAHAHAHAHAHAHHAHAHAHHAHAHAHAHAHAHAHA *breathes* HAHAHAHAHAHAHAHAHAHHA
>>134170How much are they paying you?
>>134184>turn on>this just in: Justin Beiber arrestedit'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
>>134184I watched 5 seconds and I already feel dumber.Damned US media!
read the whole thread. goodnight biz
>>13418212$/hrplus 100 USD for every percentage point drop
>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
>>134209There'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.
>>134181oh 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. >>134039yeah and look what happened when the gubmint decided not to bailout the banks, it made everything worse
>>134209maximum damage control
>>134209It's ok Mark, you can rest now.
>>134209that would be nice, I could get some of my microcoins out
>>133574>silkroad is gone, so there is no use anymoreTell that to the hundreds of millions of people with cell phones in Asia, Africa, and South America.
>>133345>Fractional reserve banking doesn't *need inflationFractional 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!
>>133574You do know that silkroad is up, little cunt?
It was an inside job.Here's a picture of the suspect.
>insolvent>price still going up>price still going up on the mtgox trackerThe fuck is this?MTGox pump and dump bot still active?
So did Mt.Goy really steal everyone's money or is it true about them being "hacked" and having bitcoins stolen?
10:03 <@epscy> I'm heartbroken, if we can't trust gox who can we trust?
breaking through all kinds of resistance now, lucky I bought at 400!
Whoever ends up buying/acquiring gox should turn it into a magic the gathering exchange for maximum kek
>tfw its going upgodamnit
>>134288HAHAHAHAHAHHAHAHAHAYou 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!!!
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 drainedright now it seems everyone is only on bitcoin as a volatile commodity and has no interest in actually using it as a stable currency
>>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 currencyExactly.>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.
>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 themselfI'm rock hard for tears
>>134347so what exactly is the end payoff for people? It already hit like 1500 usd per coin at one point when will the ride end?
I never know when to sell but i sure as hell know when to buy and now is a great time to buy.
>>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.
>>134370>now is a great time to buywelcome to 2 hours ago
(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
>>134372the 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
>>134389>implying it won't become Goy.com
>>134403Bitcoin Status: Child RuinerSeriously though, fuck any parent who gambles with their child funds.
>>134403He deserved it. So fucking stupid.
>>134403Ha, what a moron.
>>134403Any 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.
>>134403How did these people convince themselves they weren't gambling?
>>134403haha, 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
>>134392>doesnt understand the concepts of interest and getting AWAY from creditWhy 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.
>>134431>and more expensivehttp://en.wikipedia.org/wiki/Greater_fool_theory
>>134431b-but im pretty sure thats not how currency is supposed to work
We peercoin/primecoin now>dat technical superiority >dat slow, steady stealth growth>dem cunningham chains, oh boy dem elusive 10 chains
>>133496It's "A jew screams in pain as he stabs you in the back" actually.
>>134445We don't really do that
>>134437>http://en.wikipedia.org/wiki/Greater_fool_theoryWhat about the concept of greater capitol and time invested = higher scaled pricing do you not get?gtfo with the tulip_mania_analogy.txt samefaggotryThere 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.
>>134452I know you don't really scream, but that's the proverb goes.
SO when should I buy in? Any guesses what the bottom might be?
>>134467>>implying he didn't already miss it
>>134467it 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?
>>133588if 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
>>134403NEVER INVEST ANYTHING YOU CAN'T AFFORD TO LOSE OUTRIGHTHOW CAN PEOPLE BE SO STUPID?
>>134467In 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.
How do you convert a bitcoin to real money?>>134403Has to be a troll.
>>134520Sell it on Coinbase or some other exchange for USD.
>>134508>Everytime the housing market has experienced a crash, it bounces back harder than ever.
>>134522or localbitoins/in-person (you can print a paper btc wallet that 'looks and functions' like fiat
>>134523No it didn't.
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
>let's invest our life savings into unregulated online drug money!What could go wrong?
>>134523Let 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?
MtGox should have died after the $13 -> $1 crash when they got hacked.The world would be a much better place.
>>134528That'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.
>tfw you put a minuscule amount of money in, saw it rise to unimaginable highs, and in the end never got anything outShould have played Farmville instead.
get fucking rektI 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.
>>134559The 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.)
leave it to a jew to ruin something good
>>134576Someone is launching Credit coin soon, actually.
>>134283That'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.
>>134592Not him, but Silk Road 2.0 got hacked recently. Shitload of Bitcoin gone.
>>134586Yeah but its not the same, just another bitcoin fork with different variable/hashes.
>>134334>investorfags>touching cryptocoins... everNope, you don't understand the difference between gambling and investing. Enjoy being a poorfag for the rest of your life.
>>134580Any 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.
>>134064Which 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.
>>133864The coders or the entire network could decide to reroute those back or to prune the address. Bitcoin is a living breathing digital ecosystem.
How does it feel goyims, that a Jew made off with all your buttcoins?
>>134626Time to buy bitches
>>134544>artificial scarcity of a worthless object === $$$$$$$Yes, bitcoinfags are this stupid.
>>134636it hit bottom more than 2 hours ago. Already back over 500
>>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.
>>134626pic>>134636goy who never learns or jew shilling to raise prices
>>134598Then 200% moron if you fucking touch Silkroad 2.0
>Mt. Gox owners' face when
>>134644Tell me if you ever know what the smart money is doing, like the Vanderbilts. My bet?>cashing outEnjoy holding the bag.
Expect another rise or decline once MtGox releases a statement on the rumored missing 750k BTC
>>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.
>>133900see you at mcdonald emma!
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.
>>133938its so fucked
http://www.mtgox.com/cold/storage/wallet.datTOPPEST OF KEKS
>>134698>http://www.mtgox.com/cold/storage/wallet.datHere we go
>>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.
>>133900>08:33 <@emma> i dont even understand bitcoinsOh Christ.
>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 thisi only have laughter at you folks.
>>134671Well, 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
isn't it fun when peoples lifes get ruined
>>133986I'll send you some moonshine in the mail bitch!
>>134643>>cluelessfag who pretends to know how crypto system and mining works but has no clueBTC 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
>>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 currencyThat's why Dogecoin is the future.
>>134698yeah noyou can't be serious
>>133998I 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?
>>134750dogecoin is also a commodity
>>134403>Trusting a drug dealer scam network with life's savingsWHY.jpg
>>134744I'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
>>134726Holy 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 nowGod damn, I feel good.4chan has literally twisted my soul. And I don't care.
> This request is awaiting assignment to a support agentfucking hell gox supportdesk, i've been waiting like 30 minutes. surely it won't be too much longer.
>>134762>i'm fucking euphoricmy fedoras are tipping on their own
>>134762so dark&edgy mate
>>134767>Thinking Mt Gox will ever give back your shekelsBitcoinfags are really this stupid.
>>134762>4chan has literally twisted my soul. And I don't care.
>>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.
So...Where's the mtgoy owner?What is going to happen to him?
>>134767Anyone still using MtGoyim after all the shit they've pulled in the past deserves to lose their GoyCoins.
>>134805He's gong into hiding
>>132353This makes me feel warm and fuzzy inside
>>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.
this will end well:https://bitcointalk.org/index.php?topic=486573.0
>>134809presumably to escape the bitcoin-hired assassins after his head for being such a tremendous fuckup.
>>134820>Yeah that wouldn't harm BTC at all would itLel he cares more about bitshekels than justiceHahaha
>>134805Sunbathing in the bahamas, pocket laden with neet money and tears.
>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 12why am I so lazy?
>>134833>why am I so lazy?That's not how you spell stupid.
>>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
>>134837I just couldn't be arsed to make an account on bitstamp.
>>134841C'mon, let's make it a thing.>Coinfags really are this stupid.
>>134819>Sorry, can't hear you over the sound of my over 4,000% gainz on mint in the past week aloneITT: Goyimfags: peanut butter n' jelly.
>>134833>>134843>lazymore like greedyjewing 101 : greed is your servant, not your master.>>134855>denial
>>134820has 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,
>>134833>sold some coinc at 32>feles good
>>134616WhatsApp was bought for $19billionImagine 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 againSo a company with ~240000 BTC would make a profit if the price of bitcoin rises from $500 to $2000.
>>134833> bought at .56p> sold at £42> new car, thanks ltci 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.
>>134868but you're basically paraphrasing what i've already said for the whole of today.
>>134874>now i've got 0.1, and 0.02btc. took me 16 months to get this far.what the fuck am i reading
>>134820are 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.
>>1348880.1ltc, 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.
>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?
How to spend prepaid visa and buy btc?Fuck the fed.
>>132936He's only tellin' jokes, m8. With that said, being the highest public exchange by volume also helps.
>>134877must have overread it.nice dubs!
>>134487lol 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
>>134868Potential investors include a man who recently just acquired 700k coins from honest dealings.
>>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
>people think this is about bitcoin>not realizing this is about Mt.GoyBitcoin is okay. Other exchanges don't have a problem.
>>134559There'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.
>>134919>Other exchanges don't have a problem so far.FTFY
>>134924Won't he have to pay a lot tax for it though?Also buying a supercar is so new money. It's embarassing.
>>134919Except 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.
>>134901One without any extradition agreements.
>>132444as 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
>>134932This, 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.
>>134860nah, no potential, board moves too slow for maximum asspain. Mods will get to this and ban/delete all involved
>>132522>tfw theyre probably both pedophiles trading btc and cp
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.
>>134930Is there such a place?
>>134922>>134928>I have the ability to commit fraud, therefore I cannot be trusted
>>134939These fucking people, they deserve it.
>>134927he bought tangible assets when bitcoin was over $800good investment
>>134942http://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.
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?)
So when do the murders start? I mean there's certainly unsavory characters holding bitcoin and the leaders of the site aren't unknown.
>>134949Simple. Same shit can happen literally anywhere else. Trust is gone.
>>134943>I have the ability to commit fraud and no one regulates me, therefore I cannot be trustedYes. Exactly.
>>134966someone should tell him that he is poor now