Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

mtgox.com

Post reply on HN
Print view View original

11–20 of 113 posts

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#11

Post by pixie_ »

thejosh wrote: post #2

Any theories how this will fair for the market cost of Bitcoin?

Price has been pretty stable for awhile now. There's always 'the crazy periods' when it get's hyped up and the price is all over the place, but in general the price hovers around plateaus. Currently around ~$100.

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#12

Post by tlrobinson »

sneak wrote: post #9

A reminder: bitcoin, like tor, is useless if the government has a realtime analysis of the L3 network traffic of a majority of the participants, as we have learned they do in the US under NSA's MAINWAY and MARINA programs.

It's still useful, just less anonymous.

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#13

Post by tlrobinson »

fnordfnordfnord wrote: post #10
thejosh wrote: post #2

Any theories how this will fair for the market cost of Bitcoin?

Any news, no matter what it is, immediately causes panic selling. So, short term price drop. Then? Who knows?

Except that it's up slightly since this news was released.

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#14

Post by m-r-a-m »

sneak wrote: post #9

A reminder: bitcoin, like tor, is useless if the government has a realtime analysis of the L3 network traffic of a majority of the participants, as we have learned they do in the US under NSA's MAINWAY and MARINA programs.

I don't think the entire usefulness of Bitcoin is related to staying anonymous as it's actually pretty hard to stay anonymous when using Bitcoin.

Also, wouldn't the government need to be operating a certain percentage of the Tor nodes to do effective traffic analysis?

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#15

Post by mjgoins »

tlrobinson wrote: post #12
sneak wrote: post #9

A reminder: bitcoin, like tor, is useless if the government has a realtime analysis of the L3 network traffic of a majority of the participants, as we have learned they do in the US under NSA's MAINWAY and MARINA programs.

It's still useful, just less anonymous.

From bitcoin.org: "Bitcoin is not anonymous"

  http://bitcoin.org/en/you-need-to-know

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#16

Post by downandout »

For those willing to wait, this should temporarily make arbitrage more profitable. People that cannot wait 2 weeks for withdrawals will have to use their USD balances at Mt Gox to (re)purchase Bitcoins, which can then be moved to other exchanges and sold. This will cause a temporary, artificial increase in demand at Mt Gox only, leading to a higher-than-normal price differential between it and other exchanges.

That said, this is only the latest snafu with these guys. I am tired of all of the issues at Mt. Gox. Someone else really needs to step up in their place.

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#18

Post by pvnick »

sneak wrote: post #9

A reminder: bitcoin, like tor, is useless if the government has a realtime analysis of the L3 network traffic of a majority of the participants, as we have learned they do in the US under NSA's MAINWAY and MARINA programs.

Is there any theoretical way to defeat these programs and ensure anonymity? I'm even suspect of SSL given private keys can probably be demanded through FISA court.

Re: Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals

#20

Post by prawks »

jstanley wrote: post #8
zikzikzik wrote: post #6

Is this possibly a canary?

For what?

I believe he may have been implying that the cause is somehow linked to an outside agency, which in the case of Bitcoin discussions usually implies a government body somewhere.
Post reply on HN