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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1332

post #13311 of 22315
Quote:
Originally Posted by JMattes View Post

Quote:
Originally Posted by Krusher33 View Post

I wish Gox would just die already.

Second that its making the whole market look bad and it they disappeared BTC would go up again and stabilize.. bitstamp is down to 580 today probably poartly due to Gox.. check BTC would be at $800 still if it wasnt for Gox..

Not only that but the lies they keep spreading that other exchanges saying that aren't true.
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post #13312 of 22315
Quote:
Originally Posted by Krusher33 View Post

I wish Gox would just die already.

This, seriously. The reason why we're wallowing in the $500 to $650 range per coin is because MtGox is dragging the price down. Case and point, around midnight last night to right now, MtGox lost about $150 down to $115 right now. In the same period of time, the other exchanges also lost about $60 dollars due to MtGox's demise. There is literally no reason other than market trend that's driving the other exchanges down. If MtGox was completely out of the picture, these drops would not occur on the other exchanges. mad.gif


Seeing as MtGox has got millions in lawsuits pointed at them and they've potentially got only a handful of bitcoins left in their wallet due to the recent hacks, they should really just pull out and declare bankruptcy. That way, we could finally be done with this fiasco.
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post #13313 of 22315
Quote:
Originally Posted by Syan48306 View Post

Seeing as MtGox has got millions in lawsuits pointed at them and they've potentially got only a handful of bitcoins left in their wallet due to the recent hacks, they should really just pull out and declare bankruptcy. That way, we could finally be done with this fiasco.

Looking at it from the other side of the coin it's also a lucrative time to invest real money back into BTC to profit once this fiasco clears up, which it will eventually

But all this trouble is exactly why it's best to treat crypto's like shares on the stock market, their performance is based not only on hard investment but speculation and rumours/truths about the exchanges and coins themselves
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post #13314 of 22315
Quote:
Originally Posted by Vinnces View Post

Hmm, your right. I probably remember something wrong lol. Was helping a friend with his pile of 1099-B and remembering 50% poping up.

Edit: It's not totally Mt.Gox fault but it's the way that they are handling it that's turning it into more then what it was suppose to be.



Actually, it is. They've been sitting on their hands doing nothing, not getting certified for currency transactions in the United States. Then they impose lengthy deposit procedures that involve faxing them your credentials just to trade on their exchange.

They get themselves hacked by the malleability bugs in bitcoin well documented since 2011 and have since been patch but because they're running their own buggy homebrew software they're still vulnerable. Just earlier this week, they still try to push blame onto the Bitcoin developers for their own mistake and spread misinformation about how ALL the exchanges are affected this way.

Either they're completely ignorant or just incompetent. Don't know which of the two is better but either way, they brought it upon themselves taking thousands of people down with them. redface.gif
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post #13315 of 22315
FTC is doing well, its +50% in value from 10 days ago, anyone been mining or holding should be excited for it. Most other big coins seem to be in a lull or downward trend at the moment.

Also BTC being low right now can be a good thing if you are looking to buy into it. Since we all speculate that it will jump back up to $700+, if you buy in now, that would be a tidy sum to gain. Of course you have to have a lot of extra money to throw into it...
post #13316 of 22315
[quote name="Faster_is_better"

Also BTC being low right now can be a good thing if you are looking to buy into it. Since we all speculate that it will jump back up to $700+, if you buy in now, that would be a tidy sum to gain. Of course you have to have a lot of extra money to throw into it...[/quote]

I think that when Bitcoin recovers, it will be better for everybody in the market as a whole, because I believe it's Bitcoin that's putting a lid on this market right now, because the whole market is based upon Bitcoin. It's also possible, maybe not probable, but where there is weakness, there can be opportunity for somebody else to step in, but we're a ways from anything like that yet I think and it's more likely that Bitcoin recovers first. There's chapters yet to be written in this story. In the meantime, it makes for a tough market to play in.
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post #13317 of 22315
Quote:
Originally Posted by Roulette Run View Post

I think that when Bitcoin recovers, it will be better for everybody in the market as a whole, because I believe it's Bitcoin that's putting a lid on this market right now, because the whole market is based upon Bitcoin. It's also possible, maybe not probable, but where there is weakness, there can be opportunity for somebody else to step in, but we're a ways from anything like that yet I think and it's more likely that Bitcoin recovers first. There's chapters yet to be written in this story. In the meantime, it makes for a tough market to play in.

It may finally make people see all the other coins weakness and reliance on bitcoin and force them to move away from value based on BTC to something else, right now if BTC fails every other coin suffers, we need coins breaking away and having their value based on something other than BTC
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post #13318 of 22315
Quote:
Originally Posted by Krusher33 View Post

I wish Gox would just die already.
Quote:
Originally Posted by Vinnces View Post

It's Mt.Gox. Last:$122.00 High:$276.24 Low:$120.61.

You still can't withdraw from them so BTC there is tanking and effecting overall BTC prices.

Well I hope that they don't die until they can process a USD withdrawal from around New Years Day. It really shouldn't take 8 weeks. thinking.gif
I'm sure I am not the only one.
post #13319 of 22315
Quote:
Originally Posted by Roulette Run View Post

I didn't say I was a proponent of ASIC for scrypt mining, because I'm not, but I have to be a realist and try to look at all the possible forces at play, you can't just ignore the ones you don't like. If they do ever come up with an ASIC that does do scrypt mining properly, they will be a market force that AMD or any other player in the hardware market wishing to compete for the dollars, pounds, Bitcoins or whatever other currency you want to name will have to contend with. Nothing in this game is going to stay static for very long provided there's money to be made, money will bring innovation in every aspect of this game. That's why we need to keep our eyes, ears and minds open to everything that's happening in the game, or you are liable to be left behind.

P.S. I've got 10 GPU at the moment, a Galaxy GTX 780 HOF being my primary gamer when I play. I'm not too worried about my ability to game for a while.

I think you missed my point. It wasn't about gaming nor was it about maximizing profits. It was about the resale value of the hardware because as you put it yourself, there will always be something better. With AMD/Nvidia GPUs you will always have the possibility to resell since gamers aren't going anywhere. Sure you might only get 50% back in a saturated market if that happens. However if you have mining specific cards and it goes under or loses it's profitability, there's not much you can do.

That's one of the major conundrums with ASIC mining and why I linked it to it.
Edited by Outlawed - 2/20/14 at 11:10am
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post #13320 of 22315
I never understood why anyone trusted them (Mt Gox) in the first place... I mean c'mon... they started as a trading exchange for Magic: The Gathering... did you really expect them to be able to reliably handle millions of transactions without missing something - or rather lots of somethings.

I would much rather trust some unidentified Belorussians (BTC-e) or Canadians (VaultofSatoshi) despite their respective flaws before trusting a trading platform designed around 12yr boys and their card games. rolleyes.gif
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