# The end of Bitcoin?



## Costello (Feb 26, 2014)

Most of you probably know what Bitcoin is by now. This virtual currency reached unbelievable heights a few months ago when 1 bitcoin was worth over *$1120* on the exchange markets. The biggest bitcoin wallet in the world was reported to hold over 144,000 bitcoins which at the time was worth over 161 million dollars! So why are we talking about the end of Bitcoin you ask? Because MtGox, the biggest Bitcoin trading platform (on which people exchange Bitcoins for USD and vice-versa), is reportedly dead. 


			
				CNN said:
			
		

> The exchange's website then went down late on Monday, and visitors to the site saw only a blank white page. Users reported via Twitter that Mt. Gox was not executing new orders, raising the possibility that the exchange was also offline.
> [...]
> Many investors doubt they'll ever get their money back from the exchange, so the price of a Bitcoin on Mt.Gox has spiraled down to around $200. Meanwhile, the price is closer to $570 on other major exchanges that ran into similar issues, but quickly recovered.
> [...]
> Mt.Gox did not respond to requests for comment. But members of the Bitcoin Foundation's board say Karpeles left on good terms -- and wasn't pushed out by his colleagues.


Let's not beat around the bush: at this point most people now assume that the MtGox owners have gone dark and basically ran away with the money. The value of the BTC has literally collapsed. It looks like nobody's getting their money back- anything they may have invested or exchanged through MtGox. What does this inspire you? Have you lost confidence in virtual currencies or are you a Dogecoin enthusiast? Tell us what you think in this thread.

 Information source (CNN)


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## Bladexdsl (Feb 26, 2014)

glad i never used it i bet there's millions of peeps screaming now give me back my moniez!


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## Foxi4 (Feb 26, 2014)

I was never a virtual currency enthusiast to be honest, at least not in the sense of Bitcoins, Dogecoins or other similar things.

I realize they represents _"the work your computer has done"_ and it's the result of _"spending resources, aka electricity and hardware, in order to earn unique values"_, but still, it doesn't represent a whole lot of actual, real life value - perhaps because it _"earns itself"_ in the process of automated mining rather than is earned by a given person through work or exchange of goods, or maybe perhaps the work that's being done doesn't really benefit anyone and is limited to wasting resources. The process of mining is more akin to the process of minting currency rather than earning it.

It was never a _"true"_ currency to me, rather a currency-like construct, an experiment and a gimmick. That's not to say that actual, recognized virtual currency will never succeed - we're at the stage where we could completely get rid of paper and coin money if all the stores were equipped with card terminals.


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## Joe88 (Feb 26, 2014)

maybe now vendors will stop overcharging so much for radeon cards


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## slingblade1170 (Feb 26, 2014)

I don't have real currency, so theres no chance of virtual currency.


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## Nathan Drake (Feb 26, 2014)

Bitcoin and virtual currencies as a whole have been shaky since they began, and will remain shaky as long as they do exist. When pushing your money through third parties, indirect currency or not, there is a chance of getting scammed and losing out, no matter how much trust the source has built up. Because of that, I'm sure this won't be the end of Bitcoin. As a currency, it is still far too prominent in illegal marketplaces to up and disappear, especially considering the next best currency still isn't nearly prominent enough to consider. They just won't be worth as much for awhile. I'm sure that will change in due time, and those who still feel the currency is worth investing in may take advantage of this downturn to stock up and sell for what may be a substantial increase down the line once the currency re-stabilizes.

Really though, considering what Bitcoins are used for largely, you have to consider that not everybody offering to do things with your Bitcoins are going to have your best interests in mind.


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## Gahars (Feb 26, 2014)

Damn, Slugworth lied to me!



Spoiler: Black Tuesday










 
On a somewhat related note, read up on Tulip Mania.


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## Jayro (Feb 26, 2014)

I never understood the point of these "currencies" since you can't spend them anywhere...


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## Costello (Feb 26, 2014)

JayRo said:


> I never understood the point of these "currencies" since you can't spend them anywhere...


 
There are actually tons of uses for these currencies.

the simplest form:
- February 1st: buy 1 bitcoin (let's assume 1 bitcoin is worth $100, so you spent $100)
- February 28th: the value of the bitcoin has increased to $200. You sell your bitcoin, obtain $200.
You have made a $100 benefit in the process. It's called speculation on currency.
It's risky because it could go the other way...

Also it's used for tax evasion: exchange your USD against Bitcoins in the USA, travel to europe, exchange your Bitcoins for Euros. Tax free. That sort of thing...
And lastly, some stores and online services do accept bitcoins, so your original statement is somewhat inaccurate.


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## Ryukouki (Feb 26, 2014)

Never really got into digital currencies. It's an interesting concept, like a very volatile stock market, but I'm just more frustrated because I didn't buy early and missed out on a chance to make some serious dollars, not to mention my computer could never mine efficiently.


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## Chary (Feb 26, 2014)

It's a very interesting concept, but it's not worth it when the system is so unstable, and something like this happens. At least when investing in the stock market, your money won't pop out of existence.


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## Devin (Feb 26, 2014)

Dogecoin for life. Well, I'm actually invested in a few different coins. First I invested $3 in Quark when it first came out and that turned into $170~ USD. Now I'm just sitting on 15K Dogecoin and around 760~ Alphacoin. Waiting for a huge spike in them now that Bitcoin may be out of the picture.


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## trumpet-205 (Feb 26, 2014)

Cryptocurrency is inherently unstable, due to the fact that it is decentralized.

I like to think of it stock market, except you don't have information about it to predict which way it goes.


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## DinohScene (Feb 26, 2014)

Foxi4 said:


> we're at the stage where we could completely get rid of paper and coin money if all the stores were equipped with card terminals.


 
I keep 60 quid in me car at all times.
Me bankcard might fail or the fuelstations card terminal might fail.
Atleast I can pay for me tank of fuel that way.

Bitcoin was interesting.
I never participating tho.
Thought about doing it but ended up just being lazy and forgetting about it.


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## vayanui8 (Feb 26, 2014)

Always seemed to me to be too risky of a system. Since the bitcoins were not a true official currency, and were only worth money because people wanted them to be, there is no safe way to know how much you have. What if someone somehow managed to hack the bitcoin system, it would be a disaster for anybody invested in it. What if people just decided that they no longer wanted to use bitcoins? Then they would lose all their value, and your money with it. Just seems too risky to me with the only benefits being small compared to the amount you could lose if things went wrong


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## techboy (Feb 26, 2014)

Devin said:


> Now I'm just sitting on 15K Dogecoin.


Doing the same...although 8.5K at the moment, and growing by ~1K/day. I lost my first wallet with 6K to software problems. Started about 2 weeks ago.

I'm curious as to whether these recent BTC events will make Doge worth more than ~1/10 cent each.

Not to get off topic, but is there a way to even mine Doge economically? The electricity cost for the miner exceeds the revenue generated by it except maybe for extremely high-end GPUs. I know my GTX470 isn't paying to run itself...


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## tatripp (Feb 26, 2014)

A bitcoin is not backed up by anything. The US currency is at least backed up by services and goods.


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## xcrimsonstormx (Feb 26, 2014)

After the Silk Road collapsed, that is when Bitcoin started to go down. Really the only thing I see Bitcoin good for is illegal activity's.


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## Bladexdsl (Feb 26, 2014)

Foxi4 said:


> we're at the stage where we could completely get rid of paper and coin money if all the stores were equipped with card terminals.


 
nearly all the stores here are like that we have paypass/wave you simply tap your card against the reader and it does the transaction at lightning speeds


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## tHciNc (Feb 26, 2014)

Should have sold my 14 when i had the chance, was an early miner, but thought it was pointless as BC's where worthless then, back then you could mine with anything for decent results... Here we have paywave, just waiting for the banks here to add it as an app for NFC capable phones, capped at $80 transactions though by most retailers for security


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## Chocolina (Feb 26, 2014)

Someone should teach me buying and selling crypto currenies. I know and understand them, just never participated.

I have the sudden hankerin of buying $20 worth of some coin


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## Ulieq (Feb 26, 2014)

I enjoy my dollar bills.  At least it's backed up by the U.S. military.


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## calmwaters (Feb 26, 2014)

I always thought Bitcoins were a currency based on the Mario games. But of course out here in the real world, they were worth real money. Sorta... from the way it sounds on the other 'Temp thread, it sounds like they can be mined in Minecraft? Or some similar program/game? And then traded like Pokemon to increase their value? I never got into the whole thing; it just sounded cool because I associated it with Mario.


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## purechaos996 (Feb 26, 2014)

Well, that sucks. I invested like 100 into bitcoins for about a month, until someone gained access to my account and stole it and the support staff did absolutely nothing to help me. Lesson Learned: Stick with real money.


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## NicEXE (Feb 26, 2014)

Guess what... Mt Gox != Bitcoin
Mt Gox is dead, so what? You can buy fiat with Bitcoin (or the opposite) using other methods. (you can also buy goods/services directly with Bitcoin)
Those who had a balance over Mt Gox are screwed, however Bitcoin has nothing to do with it.


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## Black-Ice (Feb 26, 2014)

I'm financially inept, money confuses me.
Especially all this stocks, bitcoin doge stuff

Just notes and coins for me, #SimpleLife


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## Arras (Feb 26, 2014)

tatripp said:


> A bitcoin is not backed up by anything. The US currency is at least backed up by services and goods.


https://en.bitcoin.it/wiki/Myths#Bitcoins_are_worthless_because_they_aren.27t_backed_by_anything

Anyway there's a very easy way to prevent yourself from being screwed over like this if you use Bitcoins and that's simply not to trust some random company on the Internet to hold your money. The problem here is people seem to be treating these companies like banks while they are not nearly as trustworthy. Keep your own wallet and as long as your PC is safe, nothing will happen to it. That said I don't believe Bitcoins will ever be widely accepted as a payment method. I do believe that eventually there will be an improved version or something that may stand a better chance, but it's a bit too early, especially with this kind of stuff happening.


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## Clydefrosch (Feb 26, 2014)

did pickpocketing end other forms of money? sadly, at this point, the greed of a few people will be enough to keep the show running


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## dilav (Feb 26, 2014)

xcrimsonstormx said:


> After the Silk Road collapsed, that is when Bitcoin started to go down. Really the only thing I see Bitcoin good for is illegal activity's.


 
Bitcoin's value is still higher right now than before Silk Road was taken down.


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## Satangel (Feb 26, 2014)

purechaos996 said:


> Well, that sucks. I invested like 100 into bitcoins for about a month, until someone gained access to my account and stole it and the support staff did absolutely nothing to help me. Lesson Learned: Stick with real money.


 
That's very harsh.... How much money did you lose, 20000 USD or so? 

OT: I'm a Dogecoin believer, mainly because I didn't have enough money/power to get Bitcoins. Dogecoin is cool though, if I sold now I would have quintupled my money. (x5)
Not going to though, just seeing where it gets eventually


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## chartube12 (Feb 26, 2014)

I am a little surprised, just a little. They announced just last week bitcoin atms to exchange for "real cash" coming to stores and Wawa(s) all over the US.


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## Deleted User (Feb 26, 2014)

Well, the future is the internet, but like all "revolutionary" things, the original is never good. The original shows the concept, and inspires others to do better. Point in Case the Oculus Rift, the concept is good, but the object itself won't be up to par.


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## WiiCube_2013 (Feb 26, 2014)

I spent £10k and all I got was one freakin' Bitcoin!!


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## Guild McCommunist (Feb 26, 2014)

If you actually believe in cryptocurrency you should just burn your money right now. At least that'll keep you warm when your power gets shut down.


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## WiiCube_2013 (Feb 26, 2014)

To be honest, when I first heard "BitCoin" I thought was one of those coins people used to download stuff off the internet which I don't remember what their term is.



Guild McCommunist said:


> If you actually believe in cryptocurrency you should just burn your money right now. At least that'll keep you warm when your power gets shut down.


 
Ah yes, so have you become an actor and came out of the closet?


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## osirisjem (Feb 26, 2014)

Ulieq said:


> I enjoy my dollar bills. At least it's backed up by the U.S. *shrinking* military.


Edited for accuracy.



Satangel said:


> That's very harsh.... How much money did you lose, 20000 USD or so?
> 
> OT: I'm a Dogecoin believer, mainly because I didn't have enough money/power to get Bitcoins. Dogecoin is cool though, if I sold now I would have quintupled my money. (x5)
> Not going to though, just seeing where it gets eventually


Sell when your Mother knows what a Dogecoin is.


I was actually thinking of buying some Bitcoins just recently.
Glad I didn't do it a few weeks ago


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## tbgtbg (Feb 26, 2014)

I always laugh when they keep mentioning Bitcoins on that Almost Human show. Yeah, like they were really gonna last into the future that far.


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## 3bbb7 (Feb 26, 2014)

Bitcoin isn't dead... mtgox is only a exchange site, it doesn't run bitcoin or anything.

"#MtGox=Service #Bitcoin=Protocol. If Gmail closed would email be dead? No because Gmail is a service & email is a protocol. "
https://twitter.com/kkoolook/status/438680896443781120


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## cracker (Feb 26, 2014)

As long as it has supporters it won't die but stories like this will make everyone bail out and be a sell-fulfilling prophecy causing it to crash. That is the same with any type of currency no matter how "real" it is.


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## purechaos996 (Feb 27, 2014)

Satangel said:


> That's very harsh.... How much money did you lose, 20000 USD or so?
> 
> OT: I'm a Dogecoin believer, mainly because I didn't have enough money/power to get Bitcoins. Dogecoin is cool though, if I sold now I would have quintupled my money. (x5)
> Not going to though, just seeing where it gets eventually


 
Oh no, I lost maybe $150 total. I invested after the bubble had already popped. I mainly just wanted to see how the market worked so I traded eventually got that $50 profit. Not the worst thing to happen but still kinda sucked knowing that the time and money I had invested was gone.


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## Costello (Feb 27, 2014)

3bbb7 said:


> Bitcoin isn't dead... mtgox is only a exchange site, it doesn't run bitcoin or anything.
> 
> "#MtGox=Service #Bitcoin=Protocol. If Gmail closed would email be dead? No because Gmail is a service & email is a protocol. "
> https://twitter.com/kkoolook/status/438680896443781120


 

I think everyone gets that (unless they are stupid), but this is a matter of trust.
When you've lost thousands of dollars with what just happened at MtGox, are you going to trust anyone else with your virtual currency exchanges and wallets?
This post is a question, not an answer.


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## cracker (Feb 27, 2014)

Oh yeah I forgot to add that it will still have a good fanbase with those that deal in elicit wares...


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## The Real Jdbye (Feb 27, 2014)

It'll survive, there are other bitcoin exchanges.
Keeping money on services you are not in control of is never a good idea anyway. Anything could happen, they could get hacked, DDoSed, the site could go down, the server could crash...


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## YayMii (Feb 27, 2014)

It'll survive. There are other ways of holding digital wallets, so relying on another source for keeping your cryptocurrency safe really isn't really necessary.
As for the falling price of the coin: The current cryptocurrency landscape at the moment is almost like a stock exchange, it will have its ups and downs. Just because that one of their biggest stockholders might've pulled out of the game, doesn't mean that it's completely over. There are always other people and other exchanges that people can use. But as far as I'm aware, the value will remain too volatile to use as an actual currency until the bitcoin 'well' inevitably runs dry.

Personally, I've mined more than 50k in Dogecoin (and keeping them locally), and I'm hoping for a bright future.


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## hollowtip (Feb 27, 2014)

The new Sacramento Kings Arena is planning on promoting bitcoins at the new arena, and are accepting payments at the team store on March 1st. Very interesting...


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## FireGrey (Feb 27, 2014)

From the day I discovered bitcoin, I have always just seen it as a share market and not a currency.


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## TemplarGR (Feb 27, 2014)

Since i know a thing or two about economics, let me say it in a simple way:

Bitcoin is a ponzi scheme. Nothing more, nothing less.

It is not able to function as a real currency, because of main design flaws. And no one can really trust it, since it has no government backing. There is no way in hell this could replace official currencies...

People who entered early in this scheme, got rich. Especially its creators. People who entered late, got screwed. Well, that is the nature of all ponzi schemes. Well at least you can use all those gpus for gaming, to ease the pain...


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## weatMod (Feb 27, 2014)

Costello said:


> There are actually tons of uses for these currencies.
> 
> the simplest form:
> - February 1st: buy 1 bitcoin (let's assume 1 bitcoin is worth $100, so you spent $100)
> ...


 


yes they just put a bitcoin ATM in my city ,or close to it anyways

 the advantage is that anyone can conduct commerce without being taxed and giving their money to central bank oligarchy , paying taxes ,screw that
 but how long will it last? i think at this point any attempt at regulation or taxation will lead to a  swift backlash, that could get very ugly fast

"That's the line of thinking espoused by the central banks of various nations, including China, banking systems in general, and the financial regulators and governments of many countries, including the United States.​"A great deal of regulation [for virtual currencies] is now in the works, from [various countries]," Leeds said. "That regulation will now come sooner and with tougher reporting requirements, rules and oversight."​These regulations "will make operating in digital currencies more cumbersome," Leeds predicted. Further, digital currencies likely will be taxed, diminishing the benefit of using them."​ 

http://www.ecommercetimes.com/story/80039.html

anyone who was speculating and using these as a investment that didnt c ash out when they hit 1000$ is just greedy 
if i had them i would have got out before the bubble burst , just like gold when it hit 2000 ,  people are greedy thats why they deserve to loose if they are foolish enough to stay in


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## Aeter (Feb 27, 2014)

tatripp said:


> A bitcoin is not backed up by anything. The US currency is at least backed up by services and goods.


The only thing keeping the dollar from falling is the Petrodollar, without it the dollar would be worth less than the paper it was printed on.



Costello said:


> I think everyone gets that (unless they are stupid), but this is a matter of trust.
> When you've lost thousands of dollars with what just happened at MtGox, are you going to trust anyone else with your virtual currency exchanges and wallets?
> This post is a question, not an answer.


Exactly, trust is everything when it comes to monetary world.
Without it people wouldn't spend money and money would devalue.
Why do you think the economic recession keeps going on? If people don't spend money it becomes useless.
And since people are weary of spending money in these economically bad times the recession keeps going.


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## chartube12 (Feb 27, 2014)

Well the US is seeking to make bitcoins and every other cryptographic currency illegal. Apparently lawmakers believe an international currency controlled by the UN would be better then a world wide people controlled form of money.


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## mryoshi (Feb 27, 2014)

Bitcoin is not dead!

MtGox is an exchange, a large one indeed, but definitely not the only one. Also the problems with Goxie did not come suddenly, people who holded USD or Bitcoin there had been warned but resumed to keep their wallet on that particular exchange. Gox has had a lot of negative influence on the other exchanges due panic and the crashing prices. Now that it is gone and not indexed anymore a lot of peace has returned to the other exchanges and they are actually rising again (yay).

I also think bitcoin has troubles and is not perfect, but it is a step moving away from the flawed economy which is not set on equality or efficiency.

Quote: I never understood the point of these "currencies" since you can't spend them anywhere...
There are a lot of company's accepting Bitcoin. Due services like Bitpay they can easily accept the coin as an extended service on their current payment offerings. They wont take the volatility risks and is actually cheaper than (most?) current payment processors. In my country the largest "food delivery to home" network (many, many restaurants are connected) can be payed by with Bitcoin. Order sum pizza and pay with Bitcoin, how cool is that 

Quote: A Bitcoin is not backed up by anything. The US currency is at least backed up by services and goods.
That used to be true maybe at the beginning of the dollar. Now US money mostly consists of debt and money being created with other money (investing), it does not resemble any services or goods anymore.

Bitcoin benefits:
1. Because Bitcoin is not regulated there are no (internal) transaction fees. Meaning the large banks wont gobble op more money when u spend/transfer/receive money and thus NOT making the rich even richer. Also no contract or investment is required, just download the app on your phone and you have a little personal bank in ur pocket!
2. Bitcoin is predictable and the number of coins is set. Unlike with USD (which is being done right now) no new debt dollars can be printed which don't really exist within the system.

Bitcoin cons:
highly volatile, just look at the charts, whoow! http://bitcoinwisdom.com/markets/bitstamp/btcusd
when more people start investing though, and more company's, the price will settle down and can't be pushed up or down by big holders.

​​ 
​


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## 3bbb7 (Feb 27, 2014)

Costello said:


> I think everyone gets that (unless they are stupid), but this is a matter of trust.
> When you've lost thousands of dollars with what just happened at MtGox, are you going to trust anyone else with your virtual currency exchanges and wallets?
> This post is a question, not an answer.


 
I guess I see what you mean. But this will be a lesson and hopefully more people will now start up wallets to their own offline systems instead of trusting exchange sites with them


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## smf (Feb 27, 2014)

mryoshi said:


> Bitcoin benefits:
> 1. Because Bitcoin is not regulated there are no (internal) transaction fees. Meaning the large banks wont gobble op more money when u spend/transfer/receive money and thus NOT making the rich even richer. Also no contract or investment is required, just download the app on your phone and you have a little personal bank in ur pocket!
> 2. Bitcoin is predictable and the number of coins is set. Unlike with USD (which is being done right now) no new debt dollars can be printed which don't really exist within the system.
> 
> ...


 
mtgox make money out of you trading and someone has been made rich out of these people losing money.
You can only buy bitcoin easily if you're able to transfer fiat, so you've transferred cash easily so you can transfer a more volatile currency easily (it's still easier to transfer fiat though).

Being able to print more money is one way of controlling the value of your currency. You could also argue that you could make a faster car if you remove those pesky brakes, but brakes slow you down safely rather than instantly stopping when you hit a wall.

More people investing will make the price rise, it won't settle down at all. There are already enough people that the prices aren't being manipulated by one person. However large numbers of BTC are controlled by a few people, this is better though as they aren't going to just dump a lot on the market at once as their entire investment would disappear. The problem comes when you have a lot of people with a relatively small investment because a large number of them might start selling their couple of BTC at the same time.


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## mryoshi (Feb 28, 2014)

smf

"mtgox make money out of you trading and someone has been made rich out of these people losing money"
yes, exchanges take trading fees, so every time someone buys/sells they take about 0,02%. They do make a lot of money this way. The ones who got rich out people losing money are the hackers that stole the Bitcoins from the exchange. Gox themselves are now in a little pickle and have to face court.

"Being able to print more money is one way of controlling the value of your currency. You could also argue that you could make a faster car if you remove those pesky brakes, but brakes slow you down safely rather than instantly stopping when you hit a wall"
Money printed is either bank credit (loan money (interest)) or non backed up money created out of debt. Inflation and deflation can be regulated, but i think this system is not going to be good for the long run because it will only push problems forward. The economy will eventually crash again and repeats. I'm sorry i don't really get ur car reference ^^. A currency does not need to go faster but must transparent and predictable.

"There are already enough people that the prices aren't being manipulated by one person"
Haha, have you been to the exchange? If you own a lot of coin (and not talking about multipultimillionairs) and put up some buy or sell walls (to your intention) u can guide the market quite easily. A pump and dump scheme is often used: create a lot of real and fake (no intention to be filled) buy orders with bots so the market gets exited, wait till the price spikes and dump everything when it gained a few percent upwards. A volatile market is very profitable for these people or groups and therefore the coin is highly manipulated to remain this way.

"The problem comes when you have a lot of people with a relatively small investment because a large number of them might start selling their couple of BTC at the same time"
Not every Bitcoin user is active on an exchange or is a trader, but i agree at the moment most of the new people are investors with weak hands. The more Bitcoin kept within the system by different non speculators (decentralized) the better and more stable the market. Big funds moving in, even like banks and wallnutstreet would be better indeed.

Unfortunately the coin is now viewed and used as speculation instead of a currency, i wonder IF this is ever going change though. It has proven to be really hard to predict what it will do . I do think it's here to stay for quite a while.


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## Fishaman P (Feb 28, 2014)




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## mryoshi (Feb 28, 2014)




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## Kouen Hasuki (Mar 1, 2014)

I'm sticking with my Dogecoin 

Also last I read there was another huge BTC Exchange coming so its not as bleak as it looks


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## AlanJohn (Mar 1, 2014)

As a true dogecoin user this image sums up my opinion about the current situation perfectly:





Also, guys, if you're interested in dogecoin be sure to join the official gbatemp dogecoin channel #dogecoin in the gbatemp irc.


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## Kouen Hasuki (Mar 1, 2014)

AlanJohn said:


> As a true dogecoin user this image sums up my opinion about the current situation perfectly:
> 
> 
> 
> ...


 
Hello Fellow Shibe!


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## mryoshi (Mar 1, 2014)




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## osirisjem (Mar 7, 2014)

Interesting Article about the inventor of BitCoin.
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html


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## Guild McCommunist (Mar 7, 2014)

chartube12 said:


> Well the US is seeking to make bitcoins and every other cryptographic currency illegal. Apparently lawmakers believe an international currency controlled by the UN would be better then a world wide people controlled form of money.


 

Spoiler alert: it is.

I'd rather have a UN controlled currency instead of one that can be fucking crashed by the whims of bored hackers.


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## cracker (Mar 8, 2014)

Not only just being messed with by hackers but by "script kiddies" as well with software and hardware (ironically widely available for purchase with bitcoins) mining. I thought it would be an interesting experiment to buy such a device to see how long it would take to mine successfully but I had better things to do with my real currency.


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