lets talk about Bitcoin being fukked by Mt Gox being fukked

[88m3]

Looks everyone is glad Gox is gone for the most part. They apparently were a sh*tty trade site to begin with... and it looks like BTC will survive this. Current rate is around $500...

Yeah I'm sure people are pumped their money is "gone".

 

[Jhoon]

Yeah I'm sure people are pumped their money is "gone".

im at the point where I no longer believe in altruism. but im poor, turning something of value into something that may have value was always a bad idea to me.

 

[DEAD7]

im at the point where I no longer believe in altruism. but im poor, turning something of value into something that may have value was always a bad idea to me.

 

[Domingo Halliburton]

do hacks not happen in the most tightly regulated systems?

 

[Julius Skrrvin]

do hacks not happen in the most tightly regulated systems?

Yep, they do.

Is it really a "hack" tho?

 

[Liquid]

Personally I still think Bitcoin is overvalued compared to the other altcoins that are out there.

You also have to go into this with a backup plan if all things fail. Simple dumping hundreds or even thousands of dollars into such a speculative and volatile environment is asking for it. Myself? I dipped in with gaming hardware, the only "money" I have invested solely into this crypto-currency stuff has been electricity. If things fall apart? I still have graphics cards that are in high demand by gamers...those having ASIC miners? Good luck...the value can continue to skyrocket or crash completely.

I am not ready to invest thousands of dollars into the technology on its own. TBH if I was unable to mine with graphics cards I probably wouldn't be mining at all. For what its worth, even with it tanking the way it has...my current crop of coins is worth about $2,500. Not bad after a short time in the game, if I cash it all out now most of my gaming hardware is bought off and still have the hardware to flip out if I choose to

 

[Type Username Here]

Personally I still think Bitcoin is overvalued compared to the other altcoins that are out there.

You also have to go into this with a backup plan if all things fail. Simple dumping hundreds or even thousands of dollars into such a speculative and volatile environment is asking for it. Myself? I dipped in with gaming hardware, the only "money" I have invested solely into this crypto-currency stuff has been electricity. If things fall apart? I still have graphics cards that are in high demand by gamers...those having ASIC miners? Good luck...the value can continue to skyrocket or crash completely.

I am not ready to invest thousands of dollars into the technology on its own. TBH if I was unable to mine with graphics cards I probably wouldn't be mining at all. For what its worth, even with it tanking the way it has...my current crop of coins is worth about $2,500. Not bad after a short time in the game, if I cash it all out now most of my gaming hardware is bought off and still have the hardware to flip out if I choose to

Yea, but you're in a different spot than a lot of these other investors.

People are putting their life savings and livelihoods into this. There have been suicide help pleas involved.

Personally I'm in favor of anything that pisses off the centralized banks and wealthy, so I want these things to succeed, but even these coins are at the mercy of the overall system. I just find the Ron Paul stans hilarious with their cognitive dissonance.

 

[Liquid]

Yea, but you're in a different spot than a lot of these other investors.

People are putting their life savings and livelihoods into this. There have been suicide help pleas involved.

Personally I'm in favor of anything that pisses off the centralized banks and wealthy, so I want these things to succeed, but even these coins are at the mercy of the overall system. I just find the Ron Paul stans hilarious with their cognitive dissonance.

I don't really see how I am in a different position? People are not evaluating these things and are just sinking money into something that appears to be popular and that is not the way to go into ANYTHING in hopes for a profit.

Who in their right mind will dump thousands of dollars without a backup in a speculative market? I feel bad for people who have lost houses and broken up marriages over this shyt, but it's one of the reasons the market is so volatile...you've got a massive amount of panic buying and panic selling over any negative or positive news.

I personally don't think Bitcoin is going anywhere. I do think its going to be a rude awakening for people who think its going to be valued in the thousands per unit. Is there a chance that is CAN happen? Well sure anything is possible, but probable? I am willing to bet NO right now given the fact that you've got cryptos that hold their value solely based on the community of it...I don't see how that is sustainable long term. Bitcoin's advantage is that it is getting adoption from some major websites and over 20,000 smaller websites and ATMs, but its open source which leaves the door open to competition.

 

[Domingo Halliburton]

Yep, they do.

Is it really a "hack" tho?

I guess I haven't been following it that closely so are the owners a bunch of crooks or is it incompetence?

and I don't think any sort of regulation would of stopped this. Ponzi schemes happen all the time in so called "regulated" financial systems. I think it's more of a function of the infrastructure being so young.

 

[Type Username Here]

I guess I haven't been following it that closely so are the owners a bunch of crooks or is it incompetence?

and I don't think any sort of regulation would of stopped this. Ponzi schemes happen all the time in so called "regulated" financial systems. I think it's more of a function of the infrastructure being so young.

This might surprise you, but our regulated financial system is anything but. There isn't enough regulation and where there exists regulation , the Capitalists have long bought off the people who enforce it on a macro scale.

 

[DEAD7]

This might surprise you, but our regulated financial system is anything but. There isn't enough regulation and where there exists regulation , the Capitalists have long bought off the people who enforce it on a macro scale.

This seems unavoidable no?

 

[Brown_Pride]

This seems unavoidable no?

it is the byproduct of humanity

 

[Lord Beasley]

lawsuits?

these BTC investors just got no lubed............................................. it was all good just a week ago

 

[Type Username Here]

This seems unavoidable no?

On a total scale of perfection? Of course. But let's not act like there aren't countries that come close to a perfect system of regulation because there are.

I already told you, you and I differ merely on the root cause of corruption. We agree the corruption is in place and needs to be addressed.

 

[Domingo Halliburton]

This might surprise you, but our regulated financial system is anything but. There isn't enough regulation and where there exists regulation , the Capitalists have long bought off the people who enforce it on a macro scale.

nice counterpoint to an argument I didn't make.