This is the problem with companies like this. Trying to save a penny. If they are making as much as they say they are making. They should be able to afford their own cage/hardware/network equipment and should hire a CIO who knows what the fuck they are doing, with the right equipment, network infrastructure, load balancing etc. These issues would never occur. They should have their own multi gigE backbone and not rely on someone else for things like this.

Good luck with that one!

For USA, offshore corp, offshore account and the USA government can go fuck itself.

Why the extrememe fluctuations?

One word.

Cyprus.

http://i264.photobucket.com/albums/i...g-DVDcover.jpg

:2 cents:

Actually, this one is rather easy to figure out...

anything below 1000 bitcoins or less is 0.5% fee. It goes up to 0.6%. Considering most trades are FAR BELOW 1000 bitcoins, it is safe to use 0.5% as an average, it is likely too low.

Volume traded each day is roughly 200k. Likely closer to 250k.

That is thus at least 1000 Bitcoins a day. Since I am SURE they take their commission in hard currency, not in Bitcoins (at least they should), that even at $50 BTC value is already 50k a day in revenue. Considering BTC is trading above $100, that the volume is closer to 250k and was up to 400k in the past days. In the last days, they made far more than 100k a day in revenue. So 100k profit at least the last few days is likely true.

I really don't know but I had the television on today and there was a mention of bitcoin and the volatility of late and how unstable it was. They were presenting it as a bad thing. The statement was that some volatility was a good thing but it has been too extreme. I didn't catch the whole story but it is on the gov's radar. If they are watching there is no telling what they would do.

They will fix it.

Just watch.

Don't panic.

http://i745.photobucket.com/albums/x...Dont_panic.jpg

:2 cents:

they don't host their shit on amazon.

they do have their own hardware.


the world currency markets are how big? 100 trillion$ 150 trillion$?
yet *the government!* is going to swoop down on little ole bitcoin?

not anytime soon.

moreover, the federal treasury is run by wall street fancy pants, they have yet to rape and pillage btc.

*the government!* won't be making btc illegal anytime soon, if ever.

Fuck governments.

:2 cents:

*the government!* issued rules for virtual-currency via fincen, the regulatory branch of the federal reserve, legitimizing bitcoin.

Yahoo news Saturday;

"Bitcoin’s Value Drops 80 Percent In 24 Hours"


http://smallbusiness.yahoo.com/advis...--finance.html


.

...after rising more than 100,000 percent in 4 years

http://bitcoincharts.com/charts/mtgo...zm1g10zm2g25zl

It appeared that the currency?s price was becoming increasingly overvalued as a result of hoarding by speculators and short-term traders. A few saw signs of a massive bubble ready to burst, and some grew weary when the U.S. Treasury announced in March it would explore new laws to regulate Bitcoin.
What?s in store for Bitcoin in the future? It appears governments around the world are ready to step in.

The tactic all anti-bitcoin people is to repeat disingenuous assessments then make threats of violence via government.

When your approach is lie then pull a gun don't be shocked when guns get pulled on you in self defense.

that couldn't be farther from the truth.
it really is getting old, ithought for a while that the facts of the matter would catch up to them but that's not happening.

that article is rife with inaccuracies and incorrect information.

I view the anti-bitcoin crowd just like I do the vast majority of republicans...

Full of shit and will say whatever they want to get people to agree with them irrespective of truth or factual accuracy.

I should have referenced the same post you did, see below, Not only was it on TV but lead page on yahoo news as well. To the casual viewer/reader it looked like a stock collapse.

"Originally Posted by Helix
I really don't know but I had the television on today and there was a mention of bitcoin and the volatility of late and how unstable it was."


.

ah, i see, thx for the clarification. that article reminded me of the news coverage of the winklevoss's *massive loss* in btc.

You're right. It must be a lie. I think they make closer to 1k a day. That makes more sense. They are just doing 15k trades a day and control only 80% of the bitcoin trades which are worth 100's of millions.
Any more tips? I want to learn from you.

You must know by now the haters have no clue how it works. They just keep repeating the same shit over and over again hoping it will go away. And it drives them nuts that it doesn't.

DirtyF cant wait til u get your rig setup man

Tbh i might not do it. I'm really not sure if it's worth my time. When the coin was worth 270 it was worth it but now? What are you making? 10 bucks a day?
Now the coin will get worth more again but it's easier for me to buy now it's cheap than to wait for it till it's 250 again and start mining.

true that, yeh it was an unfortuante time to buy your gear, are you gonna get your money back on it? prolly make more bitcoins buying and selling

Yeah, i can return everything.
I think i'm gonna do that.
If it's worth it again in the future i simply buy it again.

yeh or just go with an asic system, prolly worth it in the long run.

You can see the transaction that turned the market around.
261383 BTC for 0.01$.
5 minutes later the price is 15+$/BTC.
That guy just made 4M$ in 5 minutes.

You can see the transaction that turned the market around.
261383 BTC for 0.01$.
5 minutes later the price is 15+$/BTC.
That guy just made 4M$ in 5 minutes.[/QUOTE]

Haha wtf? That's crazy.

He hasn't made shit unless he can cash it out. Which he can't.

its not that hard bro, when u wanna sell you have two options, set your price and wait or click market order and what ever the price is at the time it will sell within seconds and funds will be in your account, from there you can send that money anywhere.

Put that clueless imbecile on ignore like i did a long time ago already :1orglaugh

It drives him nuts :1orglaugh

click where? everything is down

and even then there's 100x people wanting to dump than buy

ok so i answered your first questions, lets move onto your other ones.

yeah there is downtime in the peak of ddos, and it sucks. but 99.9% of the time its available.

At the moment there is a massive amount of people still buying bitcoin and yes a lot of people are selling, but there is still activity and thats the main thing, if anything this recent crash got out a lot of week traders who got spooked. its been pretty stable at around $100 and thats a good sign, remember its very very early on in the life of bitcoin.

Good luck with that one.

:2 cents:

Mt Gox is the natural monopoly that occurs when you have free-market economics.

Charging Bitcoin exchange owners with money laundering most likely :disgust

This was posted on Reddit explaining the lag on Mt.Gox

I've been trading on BTC-E they seem to be pretty stable.

Do you trust them? I've read a lot of bad experiences with BTC-E from users.

What other exchanges trade Litecoins apart from BTC-E?

Can you believe these monkeys STILL didn't fix their shit?
There is still a huge lag!
How is this possible? Can someone tell me that?
How can a company that makes 100k a day not solve this?

Max keiser will be releasing his own exchange and I can't wait for that, mt gox currently has a flawed system in sooo many fucking ways. Say someone puts a sell or buy order at 0.00005 and it goes into a line of orders first in first come basis that overrides an order at 6.00000000.

Most people on forums are saying only sell at Mt Gox, don't buy there due to their incompetence and what NiXXiN has posted below.

Another thing that annoys me, verification. They've got backlogs of weeks now.

Why not implement a system like Bitcoins.de & Paypal have, a small amount of ? are sent to your bank account with a code, you confirm the code on their site and your bank account is verified! Simples!

Have any of you tried taking money out from Mt Gox? A lot of people are angry because it's taking weeks, again silly amounts of backlogs that's not acceptable.

If I had money in Mt Gox and wanted it out fast, I think I'd take a flight to Japan and visit their offices!