Bitcoin Price Drops - Mt. Gox Stops Bitcoin Withdrawals

[Silver Rocket Bitches!]

https://www.mtgox.com/press_release_20140207.html

Statement Regarding BTC Withdrawal Delays

Tokyo - JAPAN - February 07, 2014

Dear MtGox Customers,

In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state.

In order for our team to resolve the withdrawal issue it is necessary for a temporarily pause on all withdrawal requests to obtain a clear technical view of the current processes.

We apologize for the sudden short notice. All bitcoin withdrawal requests will be on pause, and the withdrawals in the system will be returned to your MtGox wallet and can be reinitiated once the issue is resolved. The trading platform will perform as usual for the needs of our customers. 



Our team will resolve this problem as soon as possible and will provide an update on Monday, February 10, 2014 (JST).



We deeply apologize for the inconvenience caused, and thank you for your kind support and considerations. 


Sincerely,

The MtGox Team

[Shami-Amourae]

Covered here:

http://www.youtube.com/watch?v=ttHZtYixhaI

[Shami-Amourae]

Also check this out:
http://www.thebitcoinchannel.com/wp-content/uploads/2014/02/Goxshare.jpg
http://www.cryptocoincharts.info/v2/markets/graphicalComparison

It shows you a graphical representation of exchanges and what they are mainly trading. The point is the real trading goes on with the Chinese. BTC-e is very popular now too (Russian.)

[madfranks]

^^ Wow, and the LTC volume is greater in China than BTC! That's pretty cool news.

[Shami-Amourae]

^^ Wow, and the LTC volume is greater in China than BTC! That's pretty cool news.

Bitcoin and Litecoin prices have been very stagnant the past few months due to the fact that a crap load of new crypto currencies have been invented. It's putting all the new incoming funds into these new altcoins. The market is actually expanding like crazy now even though prices have been very level.

[Ponce]

I don't get it, something that is supposed to be in a computer be manipulated where someone can say what to do with it?.......I just don't trust something that can disappear with the touch of a button.

V

[Shami-Amourae]

I don't get it, something that is supposed to be in a computer be manipulated where someone can say what to do with it?.......I just don't trust something that can disappear with the touch of a button.

V


http://www.youtube.com/watch?v=u8vEjkNpGy8

Cold storage, paper wallets.
https://bitcoinpaperwallet.com/images/front-back-sample-big.jpg

Now it's physical.

[mick silver]

yep

[Ponce]

It is my understanding that there are many different types of bitcoins....... if that's the case then should be only one type of universal bitcoin that you could trade anywhere in the world and with anyone.

V

[Sparky]

' Those withdrawals were frozen on Friday, after several days of rumors about solvency problems at Mt. Gox. The firms says customers' bitcoins still remain in their digital wallets--that is, their accounts at Mt. Gox--and will be available once its technical "issue is resolved." '

Oh, just like Cyprus banks.

Major bitcoin exchange crashes, takes bitcoin prices with it http://www.latimes.com/business/hiltzik/la-fi-mh-major-bitcoin-exchange-20140207,0,5823513.story#axzz2shLIzxZ1

[Ponce]

Well........" If you don't....and so on"......... :)

V

[cpy911]

Well........" If you don't....and so on"......... :)

V

Crypto currencies will go down as the greatest Ponzi scheme in history.

[mick silver]

untill the banks do it , then it will be called something else then
Crypto currencies will go down as the greatest Ponzi scheme in history.

[cpy911]

Ha ha. So true.


untill the banks do it , then it will be called something else then

[Shami-Amourae]

http://www.youtube.com/watch?v=licmGvAFavc

[EE_]

http://www.youtube.com/watch?v=licmGvAFavc

Still and Kieser have only one interest in mind...filling their pockets. Everything they say is only to promote that.
I can't blame them, who doesn't want to be rich.

Cryptos are so easy to reproduce, I look for many celebrities and high profile people to have their own crypto soon too.

[Blink]

That was one of the most ridiculous videos I've seen. Anyone (did we all hear that!), anyone can "create" a crypto currency and throw it out to the masses to invest in it. We really don't produce anything of substance anymore, do we? We live in an imaginary world of make believe wealth and illusions of grandeur. It seems that everyone figures they can make a buck off the rest of the idiots out there (yet, it seems to be working). We do live in interesting times where anything and everything is a go. I'm just surprised that we continue to promote it on this site. It ain't gold nor silver or even fiat because its not even real. Maybe, we should all sit down for a game of D&D (its imaginary too) and battle it out for supremacy of the world. Anyone can be king of the world as long as you "believe".........

[EE_]

That was one of the most ridiculous videos I've seen. Anyone (did we all hear that!), anyone can "create" a crypto currency and throw it out to the masses to invest in it. We really don't produce anything of substance anymore, do we? We live in an imaginary world of make believe wealth and illusions of grandeur. It seems that everyone figures they can make a buck off the rest of the idiots out there (yet, it seems to be working). We do live in interesting times where anything and everything is a go. I'm just surprised that we continue to promote it on this site. It ain't gold nor silver or even fiat because its not even real. Maybe, we should all sit down for a game of D&D (its imaginary too) and battle it out for supremacy of the world. Anyone can be king of the world as long as you "believe".........

I agree, it's a disgrace to promote such ponzi schemes on gsus.

http://www.cryptocoinsnews.com/wp-content/uploads/2013/09/no-bitcoins.jpg

[Shami-Amourae]

I think you'll see a lot of the Gold/Silver luminaries go to the crypto-side.

Until the supression of Gold/Silver prices ends, this will be the case.

Personally I like both a lot and want to use both. To bad this is such a black/white issue.

[mick silver]

blink i have bags of air i will sell you today for only half the price of what it was two days ago . so how many do you want . one time deal

[Shami-Amourae]

blink i have bags of air i will sell you today for only half the price it was two days ago . so how many do you want . one time deal

The US Dollar is almost entirely a digital currency. Do you still use it? It's just worthless right? You can send me some you know.

The only reason Gold has any value is since it is viewed as a monetary metal and people like it in jewelry. What happens when everyone goes to digital currencies (like 100% digital USD,) and cryptocurrencies. People forget the value. Case in point:

http://www.youtube.com/watch?v=ndshbH3qZ6Y
Personally I believe the price of Gold will eventually go to about below $100 USD a troy ounce one day, most likely in my life time. Why? Since no one fucking cares about it other than Asians and people on Gold/Silver forums and YouTube circles. It doesn't do much really either except be Gold. Silver will always remain valuable since it has so many uses outside of being a monetary metal. I do see the price of Silver surpassing Gold one day too. I'm looking at things based on trends, not what I want to be and not what the past was. The past no longer applies due to technology.

Rawdog, who is anti-Bitcoin agrees with my points on Gold/Silver and the USD:

http://www.youtube.com/watch?v=GYQud0jz2TE

We live in a world where what people believe is real is just as real as what is actually is real. I accept that. Can you?

[ShortJohnSilver]

One point about the cryptocoins in general - they serve to halfway wake people up about the Fed.

Why are people investing $1000s or even tens of $1000s into mining rigs? They are looking for yield, and betting that the Fed and USD will crater further.

[Neuro]

http://www.youtube.com/watch?v=licmGvAFavc
That was ridiculous promotion of the Quark coin. The common mans coin, because it can only be mined on a normal CPU? Did he forget that 98% or so is already mined, by the inner circle. Who therefor can control supply and demand and keep the price stable. Bill Shill!

[Shami-Amourae]

That was ridiculous promotion of the Quark coin. The common mans coin, because it can only be mined on a normal CPU? Did he forget that 98% or so is already mined, by the inner circle. Who therefor can control supply and demand and keep the price stable. Bill Shill!

I wrote a comment about that on his video on Quark. I don't like Quark either since it's a pre-mine. There's actually a new "Quark" called FairQuark which fixes the pre-mine issue.

Bill Still was given a huge amount by the creators and went from anti-Bitcoin to pro-Bitcoin overnight. I still like him, but this fact kinda made me lose a lot of respect for him.

[Shami-Amourae]

One point about the cryptocoins in general - they serve to halfway wake people up about the Fed.

Why are people investing $1000s or even tens of $1000s into mining rigs? They are looking for yield, and betting that the Fed and USD will crater further.

Most of the users are White Libertarians and the Chinese geeks. The White Libertarians are all against the Fed, believe me.

[Hitch]

Personally I believe the price of Gold will eventually go to about below $100 USD a troy ounce one day, most likely in my life time. Why? Since no one fucking cares about it other than Asians and people on Gold/Silver forums and YouTube circles.

This is exactly why gold can go to $5,000 an ounce and beyond. Nobody cares and is paying attention. Gold is the only TRUE international currency. It's hoarded by banks and governments.

Watch that Dice video again. Gold could be $10,000 an ounce and nobody would care.

The bottom line, gold can not be created, by anyone, no matter how powerful. That's the checks and balances in place. Crypto currencies can be created by any smart geek with a computer.

Don't fall for the diversion. At this point I'm 100% convinced crypto currencies were created to divert the masses attention away from the failing fiat currencies.

[Ares]

The bottom line, gold can not be created, by anyone, no matter how powerful. That's the checks and balances in place. Crypto currencies can be created by any smart geek with a computer.

Don't fall for the diversion. At this point I'm 100% convinced crypto currencies were created to divert the masses attention away from the failing fiat currencies.

The bottom line is 90-95% of gold is locked away in national or central bank vaults with no access for you or I in any of our life times. I'm also a student of history and whenever you rely upon a bank, government or institution to maintain the gold backing it always ALWAYS ALWAYS ends up as a miserable failure.. Do we not learn from our mistakes? Why keep going back to a time tested proven failure? Yep you're absolutely right you can't print gold. But you can print the currency that's supposedly backed by gold and governments have been doing that as far back as the ancient Greeks.

Crypto's are a tool, nothing more. Use them, or don't use them. The market will determine if they are a viable means of commerce. Not you, and not me.

[Hitch]

Crypto's are a tool, nothing more. Use them, or don't use them. The market will determine if they are a viable means of commerce. Not you, and not me.

By the market you mean the sheep that followed the IT bubble that burst? Or the market, the sheep followed the real estate bubble?

They all burst. Wealth was transferred from the sheep to the big money. Same when cryptos will burst. The market is RIGGED. The market is a game of wealth transfer. All the money flows one direction. When the crypto bubble bursts, it will be more wealth transferred to the people who designed this whole system.

Damn it man. It's all a game to these folks.

Buy gold and silver. Buy ammo.

[Ares]

By the market you mean the sheep that followed the IT bubble that burst? Or the market, the sheep followed the real estate bubble?

The free market determined that both of your examples were not sustainable. And they burst, the only reason they went up as high as they did was because of the loose monetary policy to Mr. Alan Greenspan. I don't see central banks bidding up crypto's anytime soon. If you don't understand those simple dynamics what are you doing on this board?


They all burst. Wealth was transferred from the sheep to the big money. Same when cryptos will burst. The market is RIGGED. The market is a game of wealth transfer. All the money flows one direction. When the crypto bubble bursts, it will be more wealth transferred to the people who designed this whole system.

Damn it man. It's all a game to these folks.

Buy gold and silver. Buy ammo.

Uh huh sure :rolleyes:, and how exactly are crypto's rigged? How exactly do you rig a decentralized OPEN SOURCE Peer to Peer technology? Please enlighten me, because Shami, and a few others have been trying to enlighten you "stackers" (what crypto enthusiast call people who are only silver and gold call you) into this tool that is growing on its own while you guys piss and moan on the side lines calling it rigged, a ponzi scheme, yet not having a single shred of evidence against it. Only because you don't understand it, or the technology behind it. And as is readily apparent if you don't understand it you want nothing to do with it. You know what? That's fine, piss and moan, cry and whine, and just continue the ignorant absurdities claiming idiotically I might add that it's rigged, and have not a clue what peer to peer technology is and how stupid that sounds to those of us who do understand it.

Your examples above show your complete lack of understanding what crypto currencies are. You equated them to tech stocks. When could I go to overstock.com, tigerdirect, or any number of crypto currency accepted dealers and purchase anything there with another companies stock? Please tell me when I could purchase a product cheaper than a national currency and payment system with a company stock certificate. When could I donate to causes or products I believe in that aren't popular with this government without threat of repercussions with a tech company stock or real estate? Or even fiat for that matter. The recent IRS scandals aren't a clue to you to how far they'll go to oppress dissent? If those non-profit organizations dealt strictly in crypto's they can tell the fed.gov and irs to go get fucked. As long as they dealt strictly and ONLY in crypto and never touched, handled, or received fiat the gov has no leg to stand on to regulate how or what they do.

I buy gold, silver, and ammo because they have value. They always will, but I refuse to be ignorant enough in thinking they'll be the only tools available to us.

Adapt or die.

[Hitch]

Adapt or die.

The biggest difference between us, is you refuse to adapt and believe that crypto currencies are in bed with .gov.

They have their hand it in, there's no way they don't, and any tech gibberish you post here is not going to convince me cryptos are the savior of the people.

Follow the money, and it will lead you to the truth.

[Ares]

The biggest difference between us, is you refuse to adapt and believe that crypto currencies are in bed with .gov.

They have their hand it in, there's no way they don't, and any tech gibberish you post here is not going to convince me cryptos are the savior of the people.

Follow the money, and it will lead you to the truth.

I refuse to adapt? LOL :rolleyes: Yeah while I work, promote and continue to try and advance a technology I feel has merit, yet I'm the one who refuses to adapt.

I have followed the money. They have problems buying into something with a limited and KNOWN supply. Why don't you do yourself a favor and educate yourself and adapt?

I also have to ask, how exactly do you rig a market when only 1-2% of it is actively traded (i.e. speculative trading) on a daily basis? Please with your infinite wisdom and knowledge let us small minded and ignorant cretins know how you can rig a market when you're working with a margin of 1-2%. Most people who own crypto's don't trade them, they horde them like they do any currency that is deflationary in nature. Why do you horde gold and not speculate in it? You know it's value to you is more than what the idiots who trade it. A lot in the crypto world are Libertarians and or Anarchist and refuse to deal in fiat.

I have followed the money, and it leaves your stacker position wanting. You will NEVER break the banks who hold most of it. They'll do to you like they did the Hunt brothers if you ever got close. Or they'll completely shut off the spigot by outlawing gold. Quit fooling yourself.

[Hitch]

Quit fooling yourself.

Yeah, maybe I need to find another forum.

You should change the name of this one. Bitcoin-Litecoin.US.

[Cebu_4_2]

I'm sure governments are buying into bitworld, this could have been the sudden rise in price. They can use big time super computers and mine away but that will only increase the value per bit. Once they have them all as soon as they can the price will drop, time to sell at a huge ass profit. I do not think it is possible for them to drop back to zero* unless they own all of them. There will still be a portion still holding and buying all the way to the bottom... keeping the price off of zero*.

* no offense to the number zero.

[Ares]

Yeah, maybe I need to find another forum.

You should change the name of this one. Bitcoin-Litecoin.US.

Or actually back up your claims might be helpful.

[Ares]

I'm sure governments are buying into bitworld, this could have been the sudden rise in price. They can use big time super computers and mine away but that will only increase the value per bit. Once they have them all as soon as they can the price will drop, time to sell at a huge ass profit. I do not think it is possible for them to drop back to zero* unless they own all of them. There will still be a portion still holding and buying all the way to the bottom... keeping the price off of zero*.

* no offense to the number zero.

With an asset that is limited by design, you have to have a seller, if there is a buyer. They cornered the gold market a long LONG time ago and have it rigged to do whatever they please. JPM, and another bank have been implicated in outright gold market rigging. What happened? A sigh and ho hum. So in reality nothing happened. Because no one knows how much gold is held. They all deal with paper derivatives. Physical silver and gold will always have value. I have some and always will, but I'm also not limiting myself to that position. That's called diversification, and you're only hurting yourself if you place all your eggs in one basket.

[Hitch]

Or actually back up your claims might be helpful.

I don't claim to back anything up.

Gold and Silver have thousands of years of "backing the claim up".

As far as this forum, we've maybe got a handful of old school guys left. Ponce, mick silver, and a few others. I'd hate to see this forum die because of a few tech assholes like yourself who push all this bitcoin shit.

My two bits.

[Neuro]

Bitcoin and Litecoin prices have been very stagnant the past few months due to the fact that a crap load of new crypto currencies have been invented. It's putting all the new incoming funds into these new altcoins. The market is actually expanding like crazy now even though prices have been very level.
Sounds like cryptocurrencies may have a problem with monetary inflation. ;) What happens with prices when the market stops 'expanding like crazy'?

[Horn]

http://www.youtube.com/watch?v=licmGvAFavc

Go Bill!

All's he's doing is putting his mark on the depression era wooden nickel of his choice.

He has no idea about the mining, as everyone else should give a shite about it as well.

Mining is only a marketing gimmick kick for initial inflation of all cryptos, as if they weren't enough a gimmick to begin with.

[Horn]

#9 http://coinmarketcap.com/img/Quarkcoin.png

Quark (http://qrk.cc/)
$ 18,970,190
$ 0.077 (http://coinmarketcap.com/volume.html#qrk)
247,525,349 QRK (http://explorer.qrk.cc:2753/chain/Quarkcoin)
$ 121,068 (http://coinmarketcap.com/volume.html#qrk)
+4.41 %





http://www.youtube.com/watch?v=k-NwzozflCQ

[Shami-Amourae]

Uh huh sure :rolleyes:, and how exactly are crypto's rigged? How exactly do you rig a decentralized OPEN SOURCE Peer to Peer technology?

Can you short Gold? YES
Can you short a Bitcoin? NO

Can bankers create a paper derivative of Gold? YES
Can bankers create a paper derivative of Bitcoin? NO

Why can't you do those things to Gold, but you can to Bitcoin and other cryptos? Because everything done is visable in the blockchain, and since all Bitcoins are stored on the cloud that is managed by all the computers who use Bitcoin, new Bitcoins cannot be magically created other than with the process of mining. If any Bitcoins are artificially created by lets say a bank somehow by manipulating the code the other nodes within the network would reject them and ignore them. Why? Because you have to be verified of your Bitcoins with other random nodes/computers so that you have then with every transaction. A proof of work. You don't get these features with Gold/Silver. Some Jew can claim he has it in a vault, and won't let you check/verify. You have to take his word for it while he gives you paper representations of the Gold. With Bitcoin anyone can look at whats going on and the entire network will automatically correct anyone who tries to cheat.

How the FUCK can they manipulate Bitcoins and other cryptos? Peer to peer systems take away all "magic tricks" away from bankers. The only person I know who can manipulate cryptos is fucking Fontase on Twitter (https://twitter.com/Fontase_bter) who does public pump/dumps. They don't OWN the system anymore, they can only be a participant like everyone else. The playing field is now level. If this technology was controllable by TPTB why hasn't Bit-Torrent ever been shut down. It's taken huge profits away from the music and movie industries. They CAN'T shut it down! The only thing they can do to stop it is shut down the Internet and they can't do that can they? You can override the network if you have computers which a higher hashrate than the overall market, case-in-point Pennies (http://cryptolife.net/crapcoin-of-the-day-pennies/).

ANYONE can make a currency now. This is a very GOOD thing and gives the PEOPLE a ton of power they never had before. Yes, some of it will be used for Idiocy. Something as dumb as Dogecoin would never see the light of day if TPTB were behind this, it's the people, and the people do what they want, and the community votes with their cryptos. This is the real free market in action, something very few of us have ever seen in our lives.

[Shami-Amourae]

Yeah, maybe I need to find another forum.

You should change the name of this one. Bitcoin-Litecoin.US.

I want it to be Gold + Silver + Bitcoin + Ammo. I like all of them. Pretty much all of the Gold + Silver forums are like this now, don't think this is an isolated thing. You guys need to stop posting crypto threads in the general discussion area and keep it solely to the Virtual Currencies section. Almost all the negative posts/threads on cryptos are done in the General Discussion section, which obviously is going to get a response from us, so it will be an active thread. Move it to the Virtual Currencies section and you can ignore it if you want.

Right now Gold/Silver are boring since the price is stagnant, so people naturally are talking about cryptos. If you see Gold/Silver prices moving either up or down again you'll see the chatter shift to them again. I'd hate to see this community fractured since I've been apart of it for years.

[Horn]

Its a good forum, cause even the Bitcoin fellas know when to stand down, when they gaze upon the many Silvered hands of the people.

The perception of value is all that needs be changed to end tptb manipulation, its also the easiest to change as tptb do it daily

[mick silver]

http://www.thedailybell.com/images/library/phonecalls150.jpg

[Ares]

I don't claim to back anything up.

Gold and Silver have thousands of years of "backing the claim up".

As far as this forum, we've maybe got a handful of old school guys left. Ponce, mick silver, and a few others. I'd hate to see this forum die because of a few tech assholes like yourself who push all this bitcoin shit.

My two bits.

You claimed that bitcoins were rigged. I asked for evidence and get called a "tech asshole". Glad to see you resort to name calling when you can't back up any of your own bullshit.

Yeah in your pathetic world view, you would just be happy and hunky dory if we just discussed the same topic over and over again. Why even consider what is posted here? It's all digital, it has no value right? It's worthless to you since you can't hold it right? What is the point of a DISCUSSION FORUM anyway? This place would boring as hell if we just discussed the same topic. But keep all your eggs in one basket, I'm sure it'll work out fine for you in the end. :rolleyes:

You've got a lot to learn.

Another thing you stackers can absolutely NEVER do is explain how you do international gold transactions. How exactly in your world view do you take gold, or a gold backed currency and purchase something over seas in a cheap and efficient manner? Even fiat currencies backed by absolutely nothing have issues with that. Whatever, I'm done trying to explain common sense to you. I'd get further talking to a brick wall.

Why even use a computer hitcher? It's digital, it conveys 1's and 0's that have no real value or meaning........

[Horn]

But keep all your eggs in one basket, I'm sure it'll work out fine for you in the end. :rolleyes:

You've got a lot to learn.

Morning lessons from Ares...


http://www.youtube.com/watch?v=aSn1g-6h1OQ

[Shami-Amourae]

Morning lessons from Ares...


http://www.youtube.com/watch?v=aSn1g-6h1OQ

We aren't Jews. Please don't go that low. We have souls you know.

[Sparky]

Shami, there is now a Bitcoin fund, which means it does open up a market for shorting and paper derivatives. This opens up the possibility for the same impact that other commodity ETFs have had on their underlying physical asset, e.g. gold and oil. I presume that the bitcoin fund is similar in that it must maintain a bitcoin account whose holdings are adjusted such that the asset value of the fund tracks the price of bitcoins. As such, it ultimately becomes ripe for the same type of manipulation.

[Horn]

Bitcoin Price Drops - Mt. Gox Stops Bitcoin Withdrawals



Gives new meaning to the words "Free Market".

As if you were originally shorted so much that you can't even move...a midget in chains market is more akin. :)

[Blink]

I know these IT guy/gals love anything techno, but come on. Its all make believe. All your doing is trying to get the sheep to put their faith into another lie. Looks to me like one big lab experiment on social conditioning. Worldwide transactions happen already. The general masses that this sales pitch goes out to, do not move "money" around the world on a regular basis, nor will they if this ponzi scheme ever gets a decent foothold. And lets not even get into the speculative arguments of what bankers/government can or cannot do to control this "medium of exchange". The swings this crap goes through should be enough to scare the bejesus out of anyone half paying attention. Sell it for what it is, a new experimental way of conducting commerce or medium of exchange or whatever, but, don't call it wealth or a "store of" or anything else that might indicate it's "real", because its not.........


http://www.youtube.com/watch?v=OXm6py-T2dU

[Shami-Amourae]

Shami, there is now a Bitcoin fund, which means it does open up a market for shorting and paper derivatives. This opens up the possibility for the same impact that other commodity ETFs have had on their underlying physical asset, e.g. gold and oil. I presume that the bitcoin fund is similar in that it must maintain a bitcoin account whose holdings are adjusted such that the asset value of the fund tracks the price of bitcoins. As such, it ultimately becomes ripe for the same type of manipulation.

It hasn't happened yet. A lot want to. Many have tried. Why haven't they done it yet?

[Horn]

http://www.youtube.com/watch?v=OXm6py-T2dU

That #26 screen capture about sums it up at this point.

The marketing ploy of moving large sums of money around the world in a dying economy is enough to sell as a dream.

Yes go ahead and take your Bitcoin wherever in the world you want to obtain some "extremely valuable fiat currency" elsewhere, Tulving has no real gold left at spot so you won't be receiving any of that tax free over the internet. real stuff...

[Shami-Amourae]

I know these IT guy/gals love anything techno, but come on. Its all make believe. All your doing is trying to get the sheep to put their faith into another lie. Looks to me like one big lab experiment on social conditioning. Worldwide transactions happen already. The general masses that this sales pitch goes out to, do not move "money" around the world on a regular basis, nor will they if this ponzi scheme ever gets a decent foothold. And lets not even get into the speculative arguments of what bankers/government can or cannot do to control this "medium of exchange". The swings this crap goes through should be enough to scare the bejesus out of anyone half paying attention. Sell it for what it is, a new experimental way of conducting commerce or medium of exchange or whatever, but, don't call it wealth or a "store of" or anything else that might indicate it's "real", because its not.........


http://www.youtube.com/watch?v=OXm6py-T2dU

You can't be seriously quoting Chris Duane. He's a complete con-artist who has been proven wrong many times over. He keeps telling everyone Bitcoin has been a failure OVER and OVER again yet it continues to succeed while Silver continues to fail.

Bitcoin has allowed people to do exactly what the Silverbugs have been saying Silver they would do, all along.

Watch this video from March 2013 that Duane made himself. Prices then if you didn't know were with Silver at $28 and Bitcoin at $48. Today's prices are Silver at $20.15 and Bitcoin at $670.

http://www.youtube.com/watch?v=UX75tiViEjA
ZOMG!!! IT'S A PONZI SCHEME!!

https://www.youtube.com/watch?v=0UKC7iaBKvs
He doesn't even know what a ponzi scheme is. Jesus Fucking Christ. (https://www.youtube.com/watch?v=CNLSvd4LyP8)

I don't have the video since I think it was deleted but I remember he had a video where he said the bottom was in with Silver prices at $40 and it would never get this cheap again. Stop listening to people who are incorrect.

[Ares]

I know these IT guy/gals love anything techno, but come on. Its all make believe. All your doing is trying to get the sheep to put their faith into another lie. Looks to me like one big lab experiment on social conditioning. Worldwide transactions happen already. The general masses that this sales pitch goes out to, do not move "money" around the world on a regular basis, nor will they if this ponzi scheme ever gets a decent foothold. And lets not even get into the speculative arguments of what bankers/government can or cannot do to control this "medium of exchange". The swings this crap goes through should be enough to scare the bejesus out of anyone half paying attention. Sell it for what it is, a new experimental way of conducting commerce or medium of exchange or whatever, but, don't call it wealth or a "store of" or anything else that might indicate it's "real", because its not.........


http://www.youtube.com/watch?v=OXm6py-T2dU

I'll just copy what someone at the dailypaul said as he put it much more elegantly than I could concerning this video:


chris keeps putting out bitcoin fud while refusing to debate. trace mayer has called him out a few times but chris is scared to debate. i think kokesh even tried to get him to debate but ended up just having to make a yt debunking him.

here's trace calling him out...

"the great thing about the market is the market rewards people financially if they make the correct decision and it punishes people financially if they make the incorrect decision. so if we take chris duane for example.... anyone who has followed his advice has had their balance sheet completely decimated compared to people who would have taken the other side of the argument like me and bought some bitcoins or straddled the position and maybe liquidated out 5-10% of their gold and silver and moved it into bitcoin."

no wonder chris is refusing to debate trace again now that his advice has proven devastating for his super silver cult.


https://www.youtube.com/watch?v=TZwmgeeFB-E&feature=player_embedded#t=494
link to video: https://www.youtube.com/watch?v=TZwmgeeFB-E&feature=player_embedded#t=494


I'm done debating the issue, it's pointless. You guys think it's scam and a con without even really looking at it. You base your decisions on what others have told you, you refuse to research the topic yourself and form your own opinions.... But like I've said, the market will determine what is, and what is not a viable medium of exchange. I've never called bitcoins a store of value, because they aren't. They are a medium of exchange, and an efficient payment processing system.

[Horn]

For the Crypto-lovers of nothingness.


http://www.youtube.com/watch?v=89WU0SOvYHw

[Shami-Amourae]

I'm done debating the issue, it's pointless. You guys think it's scam and a con without even really looking at it. You base your decisions on what others have told you, you refuse to research the topic yourself and form your own opinions.... But like I've said, the market will determine what is, and what is not a viable medium of exchange. I've never called bitcoins a store of value, because they aren't. They are a medium of exchange, and an efficient payment processing system.

The frustrating thing is they can work together. People think this is Bitcoin versus Gold. It's not to us. We want all of it to work together. Most of my wealth is stored in Gold and Silver. I'll always have a large core position of Silver. Gold not so much in the long term.

[Horn]

They are a medium of exchange, and an efficient payment processing system.


http://www.youtube.com/watch?v=Vi2TIV3rYzc

[Ares]

The frustrating thing is they can work together. People think this is Bitcoin versus Gold. It's not to us. We want all of it to work together. Most of my wealth is stored in Gold and Silver. I'll always have a large core position of Silver. Gold not so much in the long term.

couldn't agree more. It should never be just one or the other. They can work together, and should be allowed to work together. Both are tools at our disposal to remove our banker shackles. What's wrong with having more tools in the toolbox?

[Horn]

We want all of it to work together.

There's such a thing as diversity then there's Diversity with a capital D.

We all remember the triads into ETF's and mining stocks, what you're trying to do is to mate the valueless with the priceless.

It just doesn't work.

Any successful Bitcoin world would vacuum real value off the face of the planet, You would become a part of the valueless nothing.


http://www.youtube.com/watch?v=89WU0SOvYHw

[Ares]

There's such a thing as diversity then there's Diversity with a capital D.

We all remember the triads into ETF's and mining stocks, what you're trying to do is to mate the valueless with the priceless.

It just doesn't work.

Any successful Bitcoin world would vacuum real value off the face of the planet, You would become a part of the valueless nothing.


http://www.youtube.com/watch?v=89WU0SOvYHw

Or vacuum it out of central bank vaults since they could no longer settle with cash. I agree BTC could be a wealth transfer. It remains to be seen who it will be transferred from.

[Horn]

6018

Germans are looking.

[Ares]

6018

Germans are looking.

That chart is a little misleading. It doesn't account for market manipulation by the too big to fail banks... Not to mention BTC with a market cap of 7.9 billion couldn't even make a dent in golds 2005 (last available date I could find) 1.89 Trillion dollar market cap.

[Horn]

That chart is a little misleading. It doesn't account for market manipulation by the too big to fail banks... Not to mention BTC with a market cap of 7.9 billion couldn't even make a dent in golds 2005 (last available date I could find) 1.89 Trillion dollar market cap.

You defending Bitcoin is akin to a defense of the U.S. Constitution yet leaving room for a second class resident citizen.

Its best to sit out the argument and leave price setting up to the Gods as the "price" is not always set by "us" and is what determines value. Any BTC cyrpto have 0 naturally, while precious metals are just that.

Otherwise ye be cast down by Zeus, the real price setter.

[Sparky]

It hasn't happened yet. A lot want to. Many have tried. Why haven't they done it yet?

Why do you think they haven't? Bitcoin derivatives are now available, and the Bitcoin has lost half its value in 10 days.

The Bitcoin Derivatives Market Has Arrived (http://www.zerohedge.com/news/2013-12-08/bitcoin-derivatives-market-has-arrived)

[Neuro]

Why do you think they haven't? Bitcoin derivatives are now available, and the Bitcoin has lost half its value in 10 days.

The Bitcoin Derivatives Market Has Arrived (http://www.zerohedge.com/news/2013-12-08/bitcoin-derivatives-market-has-arrived)


It isn't more difficult to open a derivatives or future market on bitcoins, than on any other traded commodity, share or currency. Mainstream investors and speculators really don't care about the backing, and that is why in the end they get fleeced.

[Hitch]

Why even use a computer hitcher? It's digital, it conveys 1's and 0's that have no real value or meaning........

I use a computer for laziness, to be honest. It's the easiest way to get information these days.

I know, the computer, has no value. I know it is nothing. If it goes *poof* it goes poof and I'll be fine.

My problem with bitcoin, is it is just like my computer. It is nothing, it was conjoured up by some tech genious and fed to the mass that it has value.

Bitcoin is NOTHING. Literally, nothing. It doesn't exist.

If anything life has taught me....is that the stock market is a joke, it's nothing. Our currency, FRN's are nothing. Whatever it is, that the media preaches to us to buy, such as fashion, tech gadgets.

Crap we don't need. I'm tired of our fake existence.

I'll say it. Everything if fucking fake. Created out of nothing but whatever the media pushes to us that we should buy.

Don't mean to dogpile on you, Ares. I'm just at this point, where if it's not tangible. If I can't hold it in my hand, it's worth nothing, imo.