263500+ entries in 1.944s
ThickAsThieves: In the event of recent news reports and the potential repercussions on MtGox's operations and the market,
a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.
ThickAsThieves: people are so dumb, i have 3 voicemails from
a webhosting client asking for my email address, my domain for the business is literally just
a logo and an email address
MCM-Mike: did you have
a look at the sourcecode , of the index page?
ThickAsThieves: seems like now would also be
a good time for
a new zhou tong jam
deadweasel: how can you turn when you've smashed into the pavement after
a freefall?
cazalla: maybe they'll do
a bitinstant - we'll be back any moment
cazalla: jurov: in regards to using
a computer i should add
jurov: we tried to talk
a friend out of it, he sent fiat to gox anyway 2 weeks ago anyway
Mallstromm: or, when I want to buy: just today I wired quite an amount to both Bitstamp and Kraken. I'm betting on
a shitstorm happening in the media, noobs panic selling and thus I'm ready to buy all the sub-$500 coins I can
Mallstromm: what I can tell you is that as soon as I had
a +6 weeks delayed withdrawal I left for good. I didn't give them
a second chance. There's really no point in risking your hard earned money when the insolvency signals are so strong
Mallstromm: jurov: fuck. I've done at least
a dozen deposits to Gox,
a couple of them 6 figures of EUR -> and they arrived within one week
the20year1: when
a company takes 3 months to process
a withdraw, something is wrong
Mallstromm: I meant, I was
a VERY happy Gox customer. I've bought hundreds of coins on there, sub $10. I have wonderful memories of Gox
cazalla: i dunno, surely
a noob would do research
Mallstromm: cazalla: I do believe that there is
a small amount of noobs/newcomers who probably just wired money to Gox because it was the best known exchange. I would have researched in forums, etc. as I did when I bought my first coins in 2012
Mallstromm: there's only
a reason for that in my book: fractional reserve. I work with banks and I know by hear that there are no "banking limits"
Mallstromm: cazalla: I'm just having fun. I left gox for good in August after I requested
a SEPA withdrawal of just 30k EUR and after 6 weeks I didn't receive it
Mallstromm: of course I don't have coins of Gox. Only
a retard or
a poor clueless noob would have at this time
Mallstromm: cazalla: do i look like
a fucking retard?
chetty: haha yeah forget injunctions,
a world full of angry users ....
mjr_: some people have said there is increased buying in china...so that could be the source of
a hacking attack
mjr_: that would be
a good explanation for the code appearing in their empty html page
mjr_: i mean of
a billion dollars
mjr_: i mean, i never thought their shortfall would be
a 3/4 of
a billion bitcoins though
mjr_: since there is
a ton of unexploited value
mjr_: this is
a classic case of bad management
mjr_: i was involved with
a few people trying to make that happen
mjr_: so typically mpex bot will probaby not try go either direction, but rather move the price so it maintains
a baance
mjr_: and why you'd never program
a bot to do so
cerelenius: dignork: if mpex sold
a put option big enough even
a decline like today would clean them out
dignork: basically default, ok, but it's unrelated to options as
a mechanism
cerelenius: well they are implying
a 9-10% chance of recovery
cerelenius: mjr right so if
a retailer hedges and its super expensive
mjr_: that is
a pretty easy question
mjr_: i could show you
a place that will do it right now
mjr_: like when you buy
a tv on sale
mjr_: which is why futures markets are
a thing
mjr_: and the exchange rate changed i could "take
a loss"
cerelenius: dignork: the currency doesnt change 50% in
a day
dignork: in the middle there is
a conversion to their curremcy
mjr_: i think you are mixing up
a numeraire with something else
cerelenius: if the exchange rate changed you are taking
a loss
cerelenius: bitcoin did not pay for your purchase go ask tigerdirect for
a bitcoin refund
dignork: cerelenius, you with your settlement, i got btc and payed it for
a coffe
cerelenius: thats not whose providing
a bid for btc lol
cerelenius: thats not enough for
a 10bil market cap
cerelenius: you really think bitcoins value is from guys like mjr buying $20 in
a forest?
dignork: any currency is worthless as
a value storage
cerelenius: bitpay doesnt accept shit they just broker
a trade
cerelenius: everytime
a merchant adopts bitpay or coinbase
mjr_: the relative demand will basically set the bid ask spread (since bitcoins supply grows at
a fixed rate)
mjr_: oh that is
a guy with one arm, not human
cerelenius: dignork: cash has
a tight bid/ask spread bitcoin has
a wide one
cerelenius: dignork: it isnt cash. its
a virtial commodity
mjr_: its supposed to represent
a certain portion of actual things in the real world which i may want
cerelenius: it can always only make
a tiny tiny % rich
mjr_: there is
a ratio of x to y
mjr_: there is
a fixed amount of "stuff" in the world
cerelenius: everyone who gained in bitcoin there has to be
a equal loser
mjr_: i saw
a hammer that thought it was
a screwdriver
cerelenius: mjr: money is sterile, people think if they put money in
a bank vault it will have children
cerelenius: europe has
a stronger history of fascism
mjr_: you seem to think, and correct me if i'm wrong, that money serves
a purpose outside of me buying things with it
mjr_: you are
a "tenionaire"
cerelenius: you would have
a total implosion of the worldwide banking system
cerelenius: yea it doesnt work on
a soveriegn level
mjr_: at no point does
a currency become SO worthless that it gets value
mjr_: like if i print more, but still have the same basket of goods, at
a certain point, i can buy more
mjr_: if i print
a trillion
mjr_: you are saying that
a dollar cannot become worth lesss
mjr_: its like i can still buy
a hamburger for
a nickel
cerelenius: btc will make
a handful rich and everyone else will wake up one day realizing they benefited NOTHING from it
mjr_: or i guess to put it in simple terms "to the extent to which someone wants
a currency, based on how much of it there is, that will define its value"
cerelenius: i explained to you what gives dollars
a bid
mjr_: which is still
a currency
mjr_: so if only
a few people use bitcoin to transact their business, it'll be the same as the romanian lei
mjr_: or have one in
a bank account
mjr_: the vast majority of people in the world may never touch
a dollar
cerelenius: dignork: the same way bitcoin will because of what i outlined earlier in the chat.
a tiny tiny % of holders will be filthy rich while everyone else is filthy poor
dignork: cerelenius gosh, gold defaulted on promise to be
a currency, your point?
cerelenius: well yes the dollar is
a failure its
a defaulted on promise to pay gold
mjr_: you are talking about
a 5X increase
mjr_: that is
a large scale