bye bye bitcoin

Hasn't anyone noticed how new TV shows/Movies are incorporating Bitcoins into their story lines?
Once in the public mind Bitcoin will become stronger.
The exchange going down is just another pothole in the long road for Bitcoin.

Mt. Gox = "Magic The Gathering, Online eXchange"

Did anyone ever really consider an online exchanger named after a kid's game a real and viable bank? Why not "World of Warcraft Gold Exchange" or "Pokeman dollars?" - and yes, those are real too.

Mt. Gox was a scam from the start, they just made over $400 million dollars vanish anonymously and there's not one regulation or law that applies to them. And there are plenty more "Mt. Gox's" waiting in the wings to repeat their perfect crime with other "crypto-currencies."

Bitcoin was an interesting concept, but was never going to make it big in the modern world. Hardly anyone accepts it, most major retailers will never accept it and the only people hyping it up are fools and those who have a vested interest in making a profit off of the average idiot.

The coin will inevitably die off, and so will all the other wannabe clones.

clueless people who are scared of technology,
making obituaries over a protocol they dont understand,
about a currency they have never tried,
about an economic ecosystem they have never seen before,
that has never existed before.

i conclude anyone claiming the death of a widly used protocol,
because of one software implementation failure is "uneducated" in the btc network,
and in the BTC currency.

i wonder why it is so hard to understand?

if bit coin was a tech stock, it would be valued at the current bitcoins buy price, $600 approx some 8 billion dollar market cap
is apple a scam? is microsoft?

would it be easer to understand if their was a bitcoin inc?

the lack of a technical understanding will force you to rely on the MSM for your opinion

it has been claimed 4 times now buy the tech illiterate that bitcoin has died,

why is their the "usual suspects" pushing miss informed FUD?

xploder

reply to post by XPLodER


I think they're only here bagging on it, because it has to be in a form that Obama can steal, (U$D) before they can pass it around.

No really.

reply to post by XPLodER


Bitcoin has had a few crashes in its history and will likely have a few more if these crypto currency systems are to become more established. As the internet and the digital age continues some method of trust is needed if civilization is to keep its act together. The banks are trying to hold the line with the growing credit card and other transaction frauds, but their large entrenched systems are not adapt enough to keep pace with this fast emerging technological frontier.

The open nature of the internet is also its curse, especially for sensitive information. Snowden has clearly shown that the internet is compromised by design just so some can snoop. Under the global agreement of net neutrality this is also accepted as the basic terms are you can look, but do not touch. Unfortunately individuals do not always stand by state agreements and financial fraud is increasing.

The core encryption of Bitcoin is still sound and unchallenged so I do not call it dead. This is not the first time transaction issues have caused panic and loss, but the breaking methods are becoming more sophisticated and resource intensive.

i wonder why it is so hard to understand?

Trust is in short supply these days, I hope it does not get even shorter.

The same people complaining about the loss of their Bitcoin are still wondering where there Albanian Pyramid funds are.

reply to post by EloquentThinker


You sir do not live up to your name.

Bitcoin is taken in many places, including virgin galactic! And it is open sourced so to speak so can't be effectively regulated or controlled.

Its not going anywhere, and in fact is very stable considering.

Us in the pro cyrpto camp will entertain your view that they could fail for some reason, but you seem pretty sure you know how the future will play out so good luck with that.

In a meeting with a group of UK traders last week, HM Revenue & Customs said it would not charge the 20 per cent VAT tax on trades, which entrepreneurs had complained made their businesses globally uncompetitive. HMRC went a step further, saying it would not charge the tax on their margins either.

I think this is another positive step for bitcoin in Britain and should pave the way for more business to incorporate it. As the video on the right of the website says though it is still a speculative investment, no-one can really say what the future holds for the currency. At the current price it is still a bit too expensive for me.

Britain to scrap VAT on Bitcoin trades

iirc, 20 or more crypto currencies are accepted in French stores.

ANOTHER ONE BITE THE DUST
www.reuters.com...

(Reuters) - Canadian police have launched an investigation after online bitcoin bank Flexcoin, which closed its virtual doors this week, said that it had lost about $600,000 worth of the digital currency in a hacker attack.

to be honest until we got a one world currency i dont see any crypto currency taking lead anywehere it will be there but as a side line currency

reply to post by Dolby_X


The creators of litecoin said it best, they came up with their cryptocoin to address the fundamental flaws built into bitcoin.