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Serious question - is now a good time to buy Bitcoin?
Are you planning to buy it as an investment, or to use it as a currency? If the latter, this is not a good time because the currency is less stable than ever. But it could arguably be a good time to "invest" if that's your thing.
Hilarious. Can't wait to hear from the choir of libertarian crypto-currency-zealots, who will sing the praises of the Ponzi scheme that is Bitcoin. On a serious note: who benefits?
I hear there is a coin launching soon that may interest you, SchadenCoin!
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After this, you still say "Bitcoin may be the next gold standard"?
Personally, this fiasco hasn't affected in the slightest my beliefs about the protocol. Hell, if anything it might've been a small point in favour of decentralization.
Hilarious. Can't wait to hear from the choir of libertarian crypto-currency-zealots, who will sing the praises of the Ponzi scheme that is Bitcoin. On a serious note: who benefits?
In this incident I lost a bit more than $500,000 USD that was in my MtGox account. I sold my Bitcoins a few months back, but the USD have been sitting in my account waiting to be withdrawn. This was a massive fuck up by MtGox, but I really do feel sorry for Mark Karpeles. He seemed really enthusiastic about Bitcoin. Right by MtGox's offices in Japan was a Bitcoin Cafe being built. You can [see here]( http://si.wsj.ne…
it may be lost to spend but can't you spread the loss out over some years and never pay taxes for that period?
Luckily I have realized my gains which means I can deduct $3k every year in losses with infinite rollover.
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probably because the withdrawals to bank havent worked for months, the writing was on the wall for a long time, people who lost money in it took a huge gamble he should have transferred the bitcoins to bitstamp when transfers worked and cashed out.
> the writing was on the wall for a long time I wish I had hindsight like you. It was only up until these few months that Bitstamp became of any competition to MtGox. Its liquidity sucked, which was why many early adopters like me stayed.
I'm only making this comment because you used the term "hindsight".
Let me first start off by saying I feel very, very sorry for all the people who lost funds in MtGox. It'll take awhile before you get over the pain of losing a life-changing amount of money. But let's be very clear about this; hindsight wasn't needed here. The warning signs that MtGox was a house of cards became visible a long time ago. Definitely before the disabling of BTC-transfers. A lesson should have been learned here and nothing like this should happen to you again.
-- http://www.livetradingnews.com/the-bitcoin-tangle-were-warni...
"Some signs of a strain were visible early on. The exchange was quick to accept purchases but slow in giving them back. Additional proofs were asked for. The site also had technical issues; some users complained that passwords were displayed in plain text. Users are now left wondering if the small hints portrayed deeper crises."
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After this, you still say "Bitcoin may be the next gold standard"?
You think gold being stolen reduces its value? If not, why do you think it would happen here?
Gold can't be lost due to a hard drive crash, and it cannot be stolen over a network. More importantly, I believe a majority of people (myself among the number) do not understand bitcoins were stolen from mtgox.
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> I lost a bit more than $500,000 USD that was in my MtGox account Sorry for your loss. Why didn't you move it to an interest-bearing bank account?
probably because the withdrawals to bank havent worked for months, the writing was on the wall for a long time, people who lost money in it took a huge gamble he should have transferred the bitcoins to bitstamp when transfers worked and cashed out.