Bitcoins

[Deleted User]

paddyrg wrote: »

http://www.theregister.co.uk/2014/02/25/mtgox_quits_bitcoin_foundation/

GOX looks like it's been holed, bitcoin board 2 out of 4 members down, sand this thread has been eerily quiet recently.

Has the love affair of the casual speculator ended?

I've been waiting all week for someone to post about the gox situation!

Summary for any casual observer: MtGox once the primary Bitcoin exchange has (as of an hour ago) reportedly shut down due to insolvency and has lost over 750,000 of customers bitcoins, worth north of $100,000,000.

Personally I think this is really wonderful news for the longevity of Bitcoin, MtGox has been plagued with problems for the last year and although this is going to be a short term disaster, long term it will serve only to strengthen the Bitcoin ecosystem. One less parasite. That said, awful for those that have lost a lot of money

VoucherMan

I was looking to dabble earlier in the year. Comments on here back then said avoid MTGOX. I'm glad I took the advice.

Archi_Bald

citricsquid wrote: »

Personally I think this is really wonderful news for the longevity of Bitcoin, MtGox has been plagued with problems for the last year and although this is going to be a short term disaster, long term it will serve only to strengthen the Bitcoin ecosystem. One less parasite. That said, awful for those that have lost a lot of money

You are of course a bit dellusional if you think your bitcoins are safe anywhere else. I don't wish it on anyone that they lose their coins but reality is that you do not have any guarantees of any sort.

puk999

Bitcoin -> Obitcoin?

BoracicLint

Archi_Bald wrote: »

You are of course a bit dellusional if you think your bitcoins are safe anywhere else. I don't wish it on anyone that they lose their coins but reality is that you do not have any guarantees of any sort.

If you don't have the intention to sell any time soon, there is no reason to say you should keep Bitcoins on an online exchange at all. Bitcoins can be held offline, either on a storage device or even printed on a piece of paper.

Of course your argument that they are still 'unsafe' and without guarantee is valid, irrespective of how I store them.

Freecall

http://uk.reuters.com/article/2014/02/25/us-mtgox-website-idUKBREA1O07920140225

rootdown

How long is the value of Bitcoin likely to drop? i notice it has dropped steeply in the last few weeks, currently worth c $498

DiggerUK

Seems like the fantasy on stilts has crashed.
No sympathy for those born every minute.
..._

DiggerUK

Seems like this scam is a growth industry.
http://coinmarketcap.com/all.html

Archi_Bald

Where's the guy with the nick that sounds like his head hurts? Dryhead or something, the Bitcoin day trader? Haven't seen anything of him on this thread in days. Why hasn't he jumped to the defence of Bitcoin recently? Wonder where he is trying to talk the Bitcoin price up these days.