Thanks Finski, we can close down this thread now, nothing can top this.  

Steak anyone? Dead bulls are piling up. The ship is sinking.

Only whales are currently allowed to login and have their panic sell?  

After reading post after post with gox cursing, and then bitstamp go and do the same thing.   

+1

I agree, it's funny to watch the cool kids in here, the same losers who once vouched for TradeHill, and who probably got burned by pirate@40 as well. They keep blaming Gox while jumping from one sinking ship to the next, cheering and applauding each other until the next fail.

Meanwhile, in reality, the only trading place still standing from 2011 is Gox, and this is precisely where you want to be with a shitload of fiat right now.

Either troll or naive.

Regulation as in using global accounting firms to launder your money and evade tax by moving money between countries as corporations do, but only if you are a member of the club.

Is that your idea of prosperity?

So all professional GOX bashers from USA in here, STFU until you have a revolution and get rid of your own corrupt gov.

Still think GOX downfall is good for Bitcoin?

Think again. If USA can keep GOX under siege, close down the trade engine, and issue gag orders for people involved; it can happen to any exchange still operating out there.

Read again, as MagicalTux mentioned in French,  it was a "gag order", that means no talking to customers.

EDIT (tinfoil edition):

To clarify, if you want a smear campaign to be successful it must be bad enough to make people accept change without questioning, in other words regulation. I think this operation was well executed, lots of people playing into their hands by bashing MtGox.

Some seems to be behaving as if the '5' in the BTC/USD 5xx price didn't exist.

Hypothetically, if the US economy goes belly up with bank runs and whatnot, would that mean an increase in demand for Bitcoin and as a result higher rate against fiat currencies?

I used to be pretty sure that was the case, thinking rationally, but recently starting to doubt it. Sometimes market forces defy logic, and it could mean some kind of apathy towards any alternatives.

Let me know what you think. I'm aware that there are a lot of people who feel the need to reply "the US economy will never go belly up", that is the reason my first question starts with "Hypothetically", use your imagination and try to reply objectively.

The demand for gold is increasing, and some countries are getting their gold reserves back. This is a sign of upcoming events. What I don't understand is why gold price is going up (even if big media tries to downplay that), while Bitcoin goes down. Are speculators predicting a future so bad that internet might be shut down?  Because that is a serious threat to Bitcoin (and humanity in general).

BTW: The current low oil price might fool some people thinking the US economy is "improving", but that will only last until the masses figure out the price was rigged to begin with (as in market manipulation by government).

OK, and do you think the Bitcoin demand would increase or decrease in the "belly up" scenario? Assuming that the USD would be at toilet paper levels after bank runs etc.

Thanks. Your reply supports what is actually happening now in a sense, physical gold doesn't suffer from as many questionable variables as Bitcoin.

The front page of ripple.com, filled with testimonials from banksters and former traders of goldman sachs doesn't instill any confidence, more like a confirmation of legally lobbied fraud.

Perhaps the "fringe elements" are government funded.

You can also move cash in a bag.

Thinking of ISIS, this just in:

https://www.seattletimes.com/nation-world/the-us-trained-pied-piper-of-chechen-recruits-to-the-islamic-state-group/

Yes, my mistake, got tricked by recent Twitter post, article is old news.




Cash can be used to pay anonymously.  

The thing I remember about Gox towards the end is that there was an insane upward trend proportional to the difficulties getting fiat out of the exchange. The less chance of getting a wire out of there, the higher it went. I don't know if that's relevant today, still, doesn't hurt to be cautions about exchanges suffering from problems, either by load from users, DDOS or otherwise.

I read someone claimed there were 50k new user registrations per day at Bitstamp (or was it Kraken?), imagine the workload to verify these users when they want to withdraw, how will that affect withdrawals in general?

Never a dull moment. Weak hands are panicking after some old whale placed a market order?  

Back in 12K land (for now).

Maybe I'm stating the obvious but oscillating markets tend to favor a rebalancing strategy (bot or manual), for some reason rarely discussed in this thread (even if hinted at times).

In other words it doesn't really matter what happens to Bitcoin in the news, as long as the rate goes up or down, the only problem is when it goes sideways.

USD worked well for me, but maybe there are better constant-mix alternatives?

I tend to avoid that after mtgox crashed, lesson learned. My biggest regret was selling a lot back in 2011 as a miner, but it's never too late, Bitcoin is awesome.