BTC Was $757USD now $595USD
 

Did you sell your Bitcoins in time?

Bitcoin customers lose 36% of their money after hack - Aug. 7, 2016

I heard about something like that few days ago. Second hack or posting few days too late?
Ps: who cares, I mean what kind of question is "did you sell in time", most do not care about it much and hope it will get back up. How were they supposed to "sell it on time" :)

" Bitfinex said it decided "after much thought, analysis and consultations" to generalize the losses across all users. That means even people who weren't affected by the hack will find that 36% of the value of their accounts will be replaced by a "token" labeled BFX.

The company said it will use those tokens to keep track of customers' losses and will work to compensate the accounts in the future. Bitfinex said those discussions are "in early stages" and "will likely take time to play out."

"The BFX tokens will remain outstanding until redeemed in full by Bitfinex or possibly exchanged" for shares of Bitfinex's owner, iFinex Inc., the company said in a statement."


Translation: We stole your bitcoins

How many users were stolen from? Can't find that info anywhere.

$65 million stolen from 10 users or 100? Then everyone loses 36% value and those stolen from don't know it was them and only lose 36%? No insurance to protect the system and avoid adjustments due to theft? No FDIC

BTC was at $0 and now is $595. Was at $1100 and also at $200. Did you sell yours in time?

i figured nobody is interested in Bitcoin anymore when $58 million USD get stolen and people lose 36% of their money (when they used Bitfinex) and nobody on here is talking about it.

trend is still up.

This kind of stuff doesn't help either...


Australia to regulate bitcoin under counter-terrorism finance laws

Banks get robbed on a regular basis just as well. US Dollar is not backed up by gold either and terrorist use it all the time.

yes... didn't the feds get hacked for a billion dollars recently? ...and people don't seem to care when the banks steal our money because it's not as evident.

Bitcoin will always be vulnerable to this sort of thing.

Can you explain why ?

Good question :thumbsup

Maybe while he's at it, he could educate us all on the blockchain and how that works.

He obviously knows what he's talking about, so i'm curious to hear also


:1orglaugh

I agree with Paulo Marccammo on this one. BTC cold storage is antithetical to recent human psychology, in general. Many holders will want to centralize it, and the storage is then a tempting target for hackers. How can an exchange keep value, yet keep it safe offline. It then lacks transparency, and becomes a target for unscrupulous administrators. Digital currencies need to have some redundancy to be adopted fully, IMHO. The fire has been lit, but the final iteration is probably not here yet.

Bitcoin is a transactional currency and NOT a reserve currency backed by a sovereign state treasury.

There will never be Bitcoin savings bonds with any guaranteed value -- Caveat Emptor :2 cents:

First they scare off half the Bitcoin startups by claiming Bitcoin is an asset and should be taxed accordingly, then the big banks start mysteriously closing the accounts of the remaining players (for "commercial reasons"), and now this...?

Hey Australia, stop moving the fucking goal posts!

Look at when the Cyprus banks stole all the money:2 cents:

it should be a good time to buy. should have bought when price dropped to 540

This is what is happening:
 

Bitcoin will probably fall to this sort of effort, eventually:

Banks and tech firms apply blockchain to trade finance

This is the consortium web site. R3

R3 Consortium?s Blockchain Initiative: What Makes ?Corda? Different?

R3 CEV Takes on Bitcoin with Launch of Private Distributed Ledger Pilot

Risky Business:

http://quotes.ino.com/charting/histo...15&a=50&v=dmax

Blockchain technology is digital 'bookkeeping' not transactional currency -- that is one of many applications of the blockchain technology's properties.

Exactly. This is a buy opportunity. Those that do, do. Those that don't, needn't concern themselves with it. You can sit on the sidelines and make your comments without any skin in the game or you play the risk. Of course, there is always the sure thing of doing nothing. When you know nothing about Bitcoin, some of you talk like it's just another way to buy a sweater. So you know nothing. Meanwhile, that and more is passing you by at very high speed. Be seeing you in the future, if you make it.

Haha, man you sound way more defensive than you should with the above. No one is saying BTC isn't important. The fact is, DC will continue to evolve.

Bitcoin won't be affected by anything on this board, these are just opinions. Those of us working on the next stage will be just fine, and perhaps BTC will be fine too.

I made 29K.. I was hoping it would go back up to 900.. but in a matter of 2 hours it dropped over 175$each!!

There are hardly any valid opinions on this board about BTC.

I'll give you that. But, we do all have some connection to evolving payment methodologies, whether we are consumers or vendors. I would say GFY is ahead of the curve, but no one on here is going to be the James W. Nutsack Professor of Bitcoinology at Harvard either.

Ruff fancies himself the GFY bitcoin expert. He was telling GFY to buy when it hit 1200. then to buy more when it hit 800. then buy more at 600...then he stopped posting about it when all his bitcoin was 80% underwater. Now that he's back to break even, he's pretending he has big profits from it, & is back blindly touting it like its jesus.

:1orglaugh

I bought a bunch at $400, sold some at $700 and am still doing well on the ones I held on to. It will continue to climb.

I bought in at around $200 at the beginning of the year so ill ride it out.

...except that its been pretty level for about a month now.

Prove everything you just said asshole. Prove it or shut the fuck up cunt. You are a goddamn liar and a fucktard to boot. Come on asshat, show everyone where I said any of that. You know absolutely nothing about shit. Fuck off.

No you didnt..


Still scamming?

And the algorithm recently changed to make them harder to mine. The value will adjust itself. A month is no big deal, unless you're investing with scared money.

Yes i bought new cameras. But everyone knows btc is quixotical. Nature of the beast. just keep the miners running is what I say