Was only $5k, that's just a couple of days worth of mined Dogecoins, hehe .. but the upside was high (as was the risk), so it was an interesting gamble.

Tonight, I'm brewing coffee, and will be placing orders all the way down: $450, $425, $400, and below, just a few coins each order (but more coins per floor it crashes through). The lower it crashes, the more BTC I'll end up with. Exciting times, money to be made!

Interesting joint statement from the other industry players:

http://blog.coinbase.com/post/777668...egarding-mtgox

Yea looks like they've been planning this move to gox.com for a while but probably didn't anticipate this joint statement by other industry heavies and being booted off the board. Looks like a coordinated preemptive strike to stop them from reforming under a new CEO. Their cred is fucked now regardless if people get payed.

Been hoping for this day to come for a long time - seemed like a dream when we hovered over 900 for a month...might see 250 or lower from this dip...who knows might be the last time.

Gox seemed like the last weak link so it could be all uphill from here.

If it hits $250, I'll be liquidating silver (up to $22!) and securities to go even heavier. I don't expect $250, but the $300's aren't out of the question, IMO.

I think it is worth going back in with some of the money I made selling at 859 or so.

My schadenfreude is kicking in... was getting bored.

it held 400 for now

http://arstechnica.com/business/2014...ge-shuts-down/

"As of late Monday evening, the embattled Bitcoin site Mt. Gox appears to have pulled the plug entirely in the wake of sustained DDOS attacks and the “transaction malleability” problem that has plagued other websites. The site is gone and the company’s Twitter account appears to have been erased entirely."

Interesting reading.

You guys think this is real?

its happening http://boards.4chan.org/pol/res/26937049

Pure bullshit :mad:

Guy lost 4700 btc

http://www.reddit.com/r/Bitcoin/comm..._did_you_lose/

:1orglaugh:Oh crap:disgust:mad:

Boom 350m heist
http://www.wired.com/wiredenterprise...-gox-implodes/

I am sure the gox guy can pay back 350 million dollar to users, right?

He doesn't have GOX isn't dead, the bitcoins are in motion.

"Bitcoin exchange Mt. Gox disappears in blow to virtual currency"


http://news.yahoo.com/bitcoin-exchan...1--sector.html


.

So New XTC... Did you lose all of your life savings or did you migrate away from GOX yesterday like you were told to?

In like Flynn.
Keep your eye on BTC price here.
Winklevoss Index

neat site, was using this bitcoinity.org/markets but that winkdex looks nicer

That's actually a pretty shrewd business tool for the Winklevi twins, lets them establish themselves in the market as an actual legitimate source of pricing so that later on they can raise the price of the BTC they own based on the figures they use on their own index.

lose money? I didnt lose one red cent - Ive been the most vocal about wanting to see this happen all along. I've been rooting for the demise of Gox for a long time and just been looking for ways to capitalize on it. Once again you show you know nothing of the situation with your "migrate" comment - few people have even been able to get large buys on BTCbuilder for the last few days. Why don't you study up and post more when you know more.

This is a great day for me and my partners...unlike you I don't claim to be able to predict the future and I don't jump the gun with rash false statements...even still you are claiming all the people with holdings in Gox have "lost" their money. Gox still has 10's of millions of dollars and thousands of coins left...we will see if it all evaporates or how many people get payed, but claiming to know what will happen, well I leave that to the soothsayers and dumbfucks.

Many holders are dropping them like crazy right now. Our BTC sales are going through the roof the past few days. Seems a lot of people want to get rid of them.

Don't Say I Didn't Warn You
 

You can't sell an item at $1 when you pay $1000 for it.

My Posts

4/12/2013
Surprised no one has figured out Bitcoins yet

Banks take in deposits in dollars, say $100 they only have to pay out $100 USD when the customer wants his money back. Banks are required to keep 10% of the deposits. The rest they lend out in loans. If they need more than 10% on any given day, the Federal Reserve gives them a short-term loan. So banks never run out of money. It has happened a few times, but with FDIC insurance the depositors get all their money back.

MTGOX claims to trade 80% of all bit coin trades. The problem is when they sell Bitcoins they need to keep 100% of the sales as reserves. They do charge fees, but the fees alone probably don't cover their overhead and salaries. So even it Bitcoins remained at a stable price they probably couldn't refund customers at 100%.

Since Bitcoins fluctuate in price, that's what going to jam MTGOX up. They started out selling Bitcoins at just a few pennies. Lately Bitcoins have been over $100. It's difficult to sell a product for a few dollars and buy it back for hundreds. That's impossible. Only way they can stay afloat is to constantly bring in new customers paying ever increasing prices.
Normally that business model is called a Ponzi scheme.
The only other thing that could save the day is Bitcoin buyers actually buy goods and services from other customers but it looks like that's a small percentage of Bitcoins.


1/2/2014
BitCoin = Fail

Study
Gresham's Law
However, the greatest threat to BitCoins is it's own success. The more valuable it becomes, the more hackers will come after it. It's been hacked, it will be again.


2/8/2014

Who has the hot potato last

There's the optimistic view

http://www.newscientist.com/article/...l#.UvcT61OScjV

Then there is the technical issues

http://www.newscientist.com/article/...l#.UvcT_VOScjW

But the $250 drop this week. As I said before, MTGOX has to keep market stability. They can, if buyers outpace sellers. However, if sellers overwhelm buyers, MTGOX has to draw against their dollar balances. Since Bitcoin has skyrocketed, MTGOX has too little cash to cover Bitcoins purchased at $.10 to $600 and have to redeem at $700-1100.
Same thing happened to the US Treasury in the 60-70's when they couldn't redeem dollars for gold fast enough. This is Bitcoin's problem.
In a stable market, all works well. In an extremely volatile market great fortunes and and poverty can be the result.
Market imbalance is one of the major causes the cash of '29.

And the hoax goes on ...

Which is why its good to be rid of MTGOX they have been the single cause of the instability in BTC, now they are gone, the prices will slowly start to rise again and stabilize.

Interesting news

It is interesting to read the opinions of people about Bitcoin. About 3 or 4 words in you immediately realize they have no idea of what they are talking about. I guess if people are not interested in investing in cryptocurrency, they have no interest in educating themselves about it, but that does not stop them from giving their opinions regardless of fact. There are those that will make money on this and those that won't. If you are not interested in making money with Bitcoin, what is your opinion worth? Do you actually think it is going to go away?

lol redit is such fun:

:1orglaugh:1orglaugh:1orglaugh

Thanks for the lolz, funniest post of the morning.

"Since Bitcoins fluctuate in price, that's what going to jam MTGOX up. They started out selling Bitcoins at just a few pennies. Lately Bitcoins have been over $100. It's difficult to sell a product for a few dollars and buy it back for hundreds. That's impossible. Only way they can stay afloat is to constantly bring in new customers paying ever increasing prices.
Normally that business model is called a Ponzi scheme."

wow you are one uninformed motherfucker Sunny Day - its an exchange - other customers buy and sell to each other...jesus christ...do you wear a helmet when you walk in the park?

New York Times Article

Doesn't look like the big boys are too worried about Bitcoin does it? Opportunity begets opportunity. There will always be the sidelines for rest of you.

they just spend a wack load of money buying gox.com..they won't be going anywhere. however i think they should of completely rebranded. mtgox or gox is completely meaningless in regards to bitcoin.

http://bitcoincharts.com/markets/currency/USD.html

mtgox dead ?

Wave bye-bye...:helpme

Holy shit, this rocket scientist just found a flaw in the stock market! Take your money out before it's too late! :1orglaugh

Makes me hateful....

anyone said byecoin? :) :upsidedow sorry to all for their loss ...

Not sure why Mtgox would affect the coin itself, any more than a bank going under due to mismanagement would affect the dollar on the whole.

Meanwhile... a physical bitcoin bank opened in Cyprus and the security price doubled last night.

https://www.havelockinvestments.com/...?symbol=NEOBEE

In a free market EVERYTHING is an opportunity.

BRO KEEP THIS COOL... hahaha
sorry but I just had to read this again - the dumbfuckedness of this post is so massive, so colossal, it's actually entertaining.

A lot of know-nothings have opined many things on here about Bitcoin but this by FAR takes the cake. I had to read it 3 times before I realized that it's not a parody - the dude is serious...

There is only one course of action for you genius - delete any potentially incriminating files, format your hard drive, wipe your computer down for prints, take it out back to the dumpster...throw it in...then eat a sandwich, take a nice bath, and forget they ever invented a machine called a computer. :2 cents:

nevermind.

um nope...they put cash on account ahead of any buy...ooops you dun fucked up

Calm down Franck :2 cents:

Never argue with an idiot. They will only bring you down to their level and beat you with experience :)

I don't always agree with NEW XTC's opinions on everything but he is certainly aware of the facts re: bitcoins and how mtgox operated.

I wasn't around for a while so I missed Franck - but who was he? I've been called that a few times (by the same dude) - but alas I am not he...sorry to disappoint.


Nice save Joshgirls..or attempted save that is.

im done commenting on bitcoin. My site needs TLC. GL on your trades.

Frank invented bitcoin, his pseudonym is satoshi. Ask anyone on gfy and they'll tell you the same.

Also, teencat, you must mean buycoin?

no, currently sober is the creator of shitcoin, he couldn't afford stuff so he created money