After troubles initially required the largest Bitcoin exchange to halt all trading, Mt.Gox has gone done, disappearing off the internet, taking millions of d…
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The News Headlines
Is that the hand of the free market stealing from the cookie jar again?
Literally every criticism of bitcoin can be made against money. The media
have made it seem as though bitcoin or other crypto currencies have unique
problems associated with them, when in reality any form of currency is
fundamentally flawed.
They all cry for regulations and somebody has to be held accountable when
its about them.
Lol i hope Bit Coin improves in a couple of months, gonna put some money
down on some of newest mining equipment. I don’t give a shit about
libertarian, im a progressive and a capitalist, one who tales risk for
rewards.
A completely unregulated market gone south? I am shocked; shocked, I’m
telling you!
I KNOW THE GUBMINT IS TO BLAME FOR THIS, I JUST HAVEN’T FIGURED OUT HOW YET.
YOU GUYS JUST WAIT! *shakes fist*
I hope Bitcoin isn’t dead, I like being able to (for the most part)
anonymously purchase illegal recreational drugs off sites like Silk Road.
Why would they keep the original card trading url name? Also, how the hell
was a Bitcoin’s value ever calculated?
this reminds me of reading about Ron Paul losing several million when his
investments in gold and silver dropped – oh if only we could return to the
digital gold standard
What I love is, out come all the libertarians to cry their dipshit “tax =
theft” crap and defend Buttcoin the second the other shoe drops on their
fucker moron monopoly money. I love these people because they are the best
marks a con man could ever have. They have an inherent distrust in
government because there is something broken with their little retarded
brains and they put the blinders on whenever one of their freedom-loving
con jobs screws them royally.
You know what else they would have loved? Investing in Enron. Just as safe
as Bitcoin.
I don’t know much about Bitcoin, except that it’s billed as an alternative
to conventional currency and (although this does not reflect on Bitcoin
itself) it has a cult following among Libertarians — basically, then, it’s
much like gold bullion…?
Ohhhhhh man..they got played :)
(Disclaimer: Neither a free market dolt, nor a libertarian dullard. Just
someone who knows how currency trading is supposed to work)
This is why I got all my bitcoin from bitcoinget and held it in a private,
physical wallet (also sold it a month ago).
It’s designed to be traded like a currency and unless you have physical
assets set aside to cover the cost of holding them, you’re not supposed to
horde currency, you’re supposed to buy it when it’s low and sell it when
it’s high. The moment you see it sliding you sell it, you don’t wait for it
to make a comeback, that’s what stocks are for.
The people who lost money on this are not investors and likely only got
involved in bitcoin because of media bluster that claimed it was some
unassailable titan that could guarantee a safe retirement on Neptune.
Currency trading is for short-term gains, very short-term (sometimes
minutes).
If you actually understand the technology behind Bitcoin then you would be
taking advantage of this “once in lifetime” chance to buy BTC at a bargin.
Times and circumstances like this give us all a chance to see who in the
media actually knows what they are talking about, or if they literally are
and have been just parroting the idiot majorities tag line. Bitcoin, the
currency and the payment gateway itself has not be compromised. What was
compromised was Mt. Gox due to their irresponsibility when it came to
handling their exchange’s security. What shames these fools more is that
they had the best of the best in cryptocurrency developers at their finger
tips. Mt. Gox turned out to be a “bad actor ” of sorts, and I honestly
welcome their demise. This situation is far from the end of Bitcoin. if
anything, its going to propel needed advancements in the technology
itself. The future is for individuals to host their own exchanges with
some sort of order filling system to manage the trade metadata..Not the
currency itself. All for market based trading without relying on a middle
man to be responsible for holding you cash. It’s very hard to compromise
an open source software. You literally have 100s if not 1000s by now who
have torn apart the Bitcoin code. Through collaborative filtering we are
eventually going to get the most superior product. Buy, and buy now!
What you mean I shouldn’t have listened to some random guy on the internet
for financial advice?
So bit-coin has served a purpose.
*It has demonstrated the need for GOVERNANCE!* LMFAO
Sure throws the “take capitalism’s word for it” belief out the window.
Lol what is funny is that in this “free market” they can claim on their
taxes and get back some of the money they lost from the BIG BAD ”
GOVERNMENT” subsidized by the rest of us. STOP GETTING WELFARE YOU
LIBERTARIAN SPONGES
Did you get the joke?
Seder’s argument is “bitcoins are for schmucks [which they are],
but allegedly so totally and completely unlike US dollars
which btw foreign markets are dumping actively.
Seder, the communist punk would have you believe you should have more
confidence in the collapsing dollar than in bitcoins. Great advise huh?
there’s a bit coin purist born every minute
@ 04:13 The guy has lost all his money and his family is gonna be out on
the streets now – yet he’s brainwashed himself into not realising sometimes
people need help from government – He’d rather stubbornly keep his
silly beliefs than coming to the understand that what he believed was BS.
I saw this coming a mile away. Bitcoins are a scam
Who are these unprofessional, sniggling and giggling, ill-informed clowns?
*BTC: 1PADNHhze28JLnXkvhKa6PjMVzspAnwgkH*
This was really predictable. So sad…
Wow! It’s sad. There is a practical benefit to crypto currency. But when
I ran across bitcoin back in its infancy an saw that people were giving
their financial information to unregulated sites I couldn’t believe it.
As a general rule I never invest in get rich quick schemes, a philosophy
that has kept me out of trouble more than once.
Oh god the schadenfreude is going to kill me.
laughing at other people’s ruin… XD so sick!
This is actually pretty funny.-Liege Maximo
Despite this the price of a bitcoin is still higher then it was last
friday.
Enjoy “freedom” bitcoin pricks. I’ve got some wow gold if you love
“freedom” that much.
You obviously haven’t been following bitcoin if you think a 30% drop is a
problem.
Yes. Less regulation is key to a successful market. No need to bitch now
when all your savings disappeared.
I wanna know where that homeless Bitcoin purist and his homeless family is.
I want to go laugh at them.
These people probably can’t wait til bread adulterated with plaster and
horse glue comes back…
As a yugioh player I am deeply offended that you would think pokemon
players could handle bit coins. Please
Dumbass anarchists/libertarians and their dumbass schemes.
People need to realize what real money is. It isn’t paper colored green, it
isn’t stocks that may or may not have assets and it isn’t a bunch of zero
and ones in a database. Real money is ANYTHING that is worth something that
appreciates in value. A copper, Silver, Gold coin is worth at least the
value of the materials. Russians where using vodka as currency when the
country was in flux.
Bitcoin will be volatile because Bitcoins are not accepted for payment of
taxes. The dollar is accepted for payment of taxes so has a large stable
demand for that currency. Bitcoin does not benefit in the same way.
Matt’s tweet about the idea the Magic card traders would be able to handle
real cryptocurrenies and ALL that they imply… was hilarious.