Gox is gone?

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posted on Feb, 25 2014 @ 02:13 PM
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Let's say, the idea behind bitcoin is, that you are your own bank...
You should never put so many bitcoins in a deposit for trading. You should know the risks of it.
I can only recommend to have only 10% in a trading deposit and maybe get a paper wallet instead of your normal one.




posted on Feb, 25 2014 @ 03:07 PM
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reply to post by burdman30ott6
 


I can imagine how some, with a lack of understanding, might view it as fantasy.

Try thinking of it, more, as a commodity, than a currency.

From my own experience, it's real, tangible, hardware that I can walk up to, right now, and switch on and off.

It's right there in front of me! I can touch it!

Ebay doesn't seem to mind, in the slightest, if the money you spend was bitcoin only hours earlier.

The line of sitters with their hands out is far longer than the line of geeks hashing away at confirms.

I'll gladly give them my money, before a banker gets it.



posted on Feb, 25 2014 @ 03:16 PM
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burdman30ott6

StallionDuck
Lets say it this way....

If you buy a camero from a dealership and you found out that this one dealer was getting hit by bandits that store parts from their cars, you might stop buying from that dealer and go to another. The camero itself is not the problem, but that one dealer. The bad publicity might make people think it's a problem with the cameros but after they realise what really happened, they will contnue as normal.


Huge difference... I can physically have a Camero sitting in my driveway. I can drive it, wash it on the weekend, take the wife and kids for a spin in it, etc. It is a physical purchase.

Those who are financially tied into Bitcoin can feel free to label me a hater or whatever else they feel the need to say to attempt to protect their *ahem* "investment" in their own mind and the minds of other whose peace of mind Bitcoin's "value" is dependent on, I honestly don't care. The fact is that it is beyond ridiculous to see the same people who bitch about how the dollar is a "fiat currency" are often the ones advocating and purchasing the completely imaginary and arbitrary Bitcoins. It is about as ridiculous as seeing Level 500 Paladins with Platinum tier loot from World of Warcraft being auctioned off on Ebay for $850. The digital age seems to have stripped more than a few folks of their sanity and common sense.


And I can spend that money I've made on imaginary coins.

For me, it's a hobby. I didn't put anything in it that I wasn't prepared to loose. If you want to put your life savings in it, then hey, that's all you, and you're right... I don't want to hear about it when you loose it. Like anything else, people put their money in things to get rich quick and most often have nothing to show for it in the end. It's no different than gambling.

Still, I wont judge someone that wants to toss their hard earned money in this anymore than I would judge someone putting 10$ on the lottery, or 100$ even.

I have made THOUSANDS of times more with crypto currency than I have put in. I've invested very small amounts, and if I cashed out right this second, I would have made many thousands of dollars more than I have put in and I haven't been doing this for years. Some of those guys that are complaining didn't put their life savings away either. Many probably started early and just sat on their coins or traded to get the hundreds of thousands they're complaining about loosing.

Anyone and everyone involved in crypto knows that they can make a crap ton of money or have it all dissapear in extreemly little time... In meer seconds it could all vanish.

By the way... Someone could hit your car and total it out and by some stipulation, your insurance can find some way of not paying for it and you still could end up with nothing. Anything is possible. You could even be no more from the same wreck. Personally, I like to take chances. Sometimes they pay out, sometimes they dont. So far, it has. Tomorrow it may not.
edit on 25-2-2014 by StallionDuck because: (no reason given)



posted on Feb, 25 2014 @ 03:41 PM
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reply to post by StallionDuck
 


Agreed...I view like gambling with better pay offs....I dont put anything in im not afraid to lose...this is good for bitcoin...its not going away.....



posted on Feb, 25 2014 @ 04:40 PM
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cosmicexplorer
reply to post by StallionDuck
 


Agreed...I view like gambling with better pay offs....I dont put anything in im not afraid to lose...this is good for bitcoin...its not going away.....


I dont know about better payoffs. If you're lucky, yeah, you can double your worth in a few hours if you catch the right currency before it goes up. I watch random currencies go up to 150% most days, but I never know which one! lol If only I could know! But then again.. Everytime I've been to a casino, I've always lost everything I've put in.. soooooooo
Not to mention, I've gotten lucky up to this point. Though, I lost a huge potentual by making a really bad bet against Dogecoin. I knew it would jump but just didn't expect it to happen so quickly.

I miss my Doge


Such Loss. So Sad. No more moon. Bad bisquit! Bad Doggie!


edit on 25-2-2014 by StallionDuck because: (no reason given)





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