Bitcoin - online fad or the future?

Quantt

Established member
944 58
Lol i've never heard about MtGox) It is bad exchange? Or just scam?
Well, it was the biggest exchange in the world at the time by far and we'll newer know what exactly happened, was it a hack or inside job, but it suddenly closed...

"Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world's leading bitcoin exchange."
.....
"By May 2016, creditors of Mt. Gox had claimed they lost $2.4 trillion when Mt. Gox went bankrupt, which they asked be paid to them. The Japanese trustee overseeing the bankruptcy said that only $91 million in assets had been tracked down to distribute to claimants, despite Mt. Gox having asserted in the weeks before it went bankrupt that it had more than $500 million in assets. The trustee's interim legal and accounting costs through that date, to be paid ultimately by creditors, were $5.5 million."

https://en.wikipedia.org/wiki/Mt._Gox
 

EddyJones

Junior member
39 0
Well, it was the biggest exchange in the world at the time by far and we'll newer know what exactly happened, was it a hack or inside job, but it suddenly closed...

"Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world's leading bitcoin exchange."
.....
"By May 2016, creditors of Mt. Gox had claimed they lost $2.4 trillion when Mt. Gox went bankrupt, which they asked be paid to them. The Japanese trustee overseeing the bankruptcy said that only $91 million in assets had been tracked down to distribute to claimants, despite Mt. Gox having asserted in the weeks before it went bankrupt that it had more than $500 million in assets. The trustee's interim legal and accounting costs through that date, to be paid ultimately by creditors, were $5.5 million."

https://en.wikipedia.org/wiki/Mt._Gox
Really interesting.. I guess it was d-dos attacks..
 

Dagerban

Active member
104 2
Of course, time will show, but a bitcoin is very unstable at the moment. I'm not talking about halving of its value for the last couple of months. you can also make money on it, though.
 

DaveP648

Newbie
5 1
I want to be able to buy stocks directly with Bitcoin, and then sell the stocks and get Bitcoin back. Kind of like a new Swiss bank account. I've only found one company allowing this, ChainBLX. Is this a common thing? I'd like to compare companies. It would be a good way to hedge against BTC volatility.
 
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AdamCantor

Member
59 6
i think crypto currencies in general have a long term future in store.. too many pros outweigh the cons, from the perspective of financial institutions, i feel.........
 

AdamCantor

Member
59 6
super interesting read. thanks for sharing :)
 

morpher_dot_com

Newbie
3 0
I am very bullish on the prospect of cryptocurrency, but not in the ways the Bitcoin is used. Cryptocurrency is product of blockchain tokenization and there's only three types of application for it; fiat-purchase-parity, securitization, and utility.

Crypto as a fiat currency is a difficult thing to talk about. The thing is that people get in to crypto in order to subject themselves to outsized returns, but that's not the point of crypto. You wouldn't use the USD as a currency if it fluctuates the way BTC does. However, for instance at our firm we use a crypto token as a means to an end in trading other assets.

In other applications, I've also sent money across the world through crypto into markets where the banking system is too slow and it gets the job done. However, I think that the sell should be blockchain - the real future. The network of trust a validation that blockchain provides is amazing, and I think that we should be looking at a blockchain protocol as a potential replacement for SWIFT. Maybe crypto wont be used as a fiat currency, but perhaps real currencies will have a better infrastructure built around them.
 

Akinozragore

Member
94 6
That's a very good question. I started to interested in Bitcoin just recently and I have collected a lot of useful information for both pro and cons position. We should understand that cryptocurrencies are virtual money, it is more difficult to analyze them than other standard currency pairs. The system has no control at all. Digital money exists on its own. However, they are popular. They can be withdrawn to the stock exchange. Bitcoin is the most stable of all cryptocurrencies. It has existed on the market for a much longer time, and there is more trust from users. There are systems that allow you to keep your savings in Bitcoin. With its help it is possible to make payments that correspond to the value of other currencies, such as the U.S. dollar. So I think that Bitcoin will be popular for a long time. And we will see such a strong movement as it was in May this year more than once.
 

fibo_trader

Veteren member
3,506 72
That what i was think. I guess for it to really take off it would require someone like amazon to accept them.

You should be ashamed of yourself. Ditto for the 48 members in this thread, especially wackypete. Only member on the right track is a girl named Sassoso. She and only she may go in Peace. The rest are being sent to Iraq for the following reasons:

(1)

Supposedly all hotshot traders here, have tools for both FA and TA - most were just arguing about whether Bitcoin is a scam or illegit and whatnot. Not a single duffer bothered to see how nicely and perfectly Bitcoin was respecting the Math of Markets and Rules of TA, especially TREND. And all the while Bitcoin just kept going up proving once again that T2W is always on the wrong side of the TREND as demonstrated before.

op started thread in March 2013 and never noticed that on the monthly Bitty had taken out the monthly high bar that very month. How powerful is something like that happening on Monthly? Its Earth shattering bull-market of epic beginning as per Dow Theory and the Kama Sutra (with a hard on of that magnitude Bitty could nail 5 billion women and satisfy all)




272238





Bitty came-d from Jesus and its their birthday this season ............... Fibo salutes both. both were born in a manger. Bitcoin will save Africa. Therefore it stands to reason that this Christmas the music of Christmas must come from there

Welcome to Heaven


 

fibo_trader

Veteren member
3,506 72
Duffer party continues with ...........

(2) Bitcoin is a Fibo girl. She plays Fibo's game to a T. One kiss and she gets goosebumps ...................................

Take the 1st wave up and FIBO project it - you all have that simple tool, dummies, its in the fibonacci toolbox as simple as a friggin screwdriver. Use it and get the perfect hit at the next wave top as shown below. The 4 hits are shown in yellow circled numbers. Always project waves from the Origin - God intended the Origin to be that way, that's why Science and Engineering always start at the Origin - never fails = least noise at the Origin = meeting point of the downwave and origination of the new upwave = energy transfer from neg to positive.

The hits are spectacular. Now note that on the #4 hit, Bitty did fell short by a quarter centimeter - this could be telling in 2 ways (a) the upwave ran out of steam (b) it has yet to go there :):):) = 24,214 = possible target

I'm working on this last eventuality, no conclusion yet .............. but as you already know I have already taken the LONG entry into Bitcoin days ago with Stop already posted in one of the Bitcoin threads. Find it



272239




Christmas in the Antilles = God's HOME = FIBO feels exhilarated there - everybody dancing in the supermarkets, music everywhere :):):):):)

 

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