General Discussion

LynneSin

(95,337 posts)

19. Maybe they should hold off on that for awhile......

Wed Feb 26, 2014, 11:08 AM

Feb 2014

http://money.cnn.com/2014/02/25/technology/security/mtgox-bitcoin/

Mt.Gox site disappears, Bitcoin future in doubt

What was once the world's largest trading platform for bitcoins is now a blank page.

The Bitcoin-trading website Mt.Gox was taken offline late Monday, putting at risk millions of dollars put there by investors who gambled on the digital currency. The exchange also deleted all of its tweets, and Mt.Gox CEO Mark Karpeles resigned from the Bitcoin Foundation's board of directors on Sunday.

The news frightened Bitcoin investors elsewhere, knocking the price down about 3% to $490 -- its lowest level since November.
For now, there's no telling what's behind the shutdown. Mt.Gox did not respond to requests for comment.

However, an unverified document called "Crisis Strategy Draft" that is being circulated online claims Mt.Gox has lost 744,408 of its users' bitcoins, worth nearly $367 million. It also claims Mt.Gox is planning to rebrand itself as Gox.

It's Beanie Babies for the modern age. Of course these things have value - you have have to find someone dumb enough to give you the money for what you think it's worth.

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Highlight:

Bitcoin ATM maker announces plans to expand to U.S. and beyond [View all] phantom power Feb 2014 OP

Palm scanning and pictures? seattledo Feb 2014 #1

This isn't a right or left issue - Bitcoin is just the beginning... TampaAnimusVortex Feb 2014 #9

It's kind of a shame that bitcoin got associated with the "it's like gold" meme phantom power Feb 2014 #23

Why on Earth would I possibly want to be involved in this? arcane1 Feb 2014 #2

Come on. Unregulated, virtual money that exists with the very secure confines of your computer? Tommy_Carcetti Feb 2014 #18

Sounds squirrely as hell to me, too. MADem Feb 2014 #27

Lol tridim Feb 2014 #3

1636: these new tulip bulb ATMs are the latest thing. longship Feb 2014 #4

Can someone explain what the hell "bitcoin" is? madinmaryland Feb 2014 #5

Something quickly disappearing into history. joeglow3 Feb 2014 #6

I heard that same thing 6 months ago... TampaAnimusVortex Feb 2014 #7

Too many true believers for it to truly die, however cemaphonic Feb 2014 #12

Materially, yes it is dead. joeglow3 Feb 2014 #13

hmmm. Someone should tell the market that then... TampaAnimusVortex Feb 2014 #15

So were tulip bulbs in holland. joeglow3 Feb 2014 #16

And they were saying that last February also... TampaAnimusVortex Feb 2014 #17

And Beanie Babies in the 90s LynneSin Feb 2014 #20

See post 9 - get educated and come back... TampaAnimusVortex Feb 2014 #21

Oh I have alot of clue what I'm talking about. Rolling Stone Magazine had some great articles. LynneSin Feb 2014 #24

Rolling stone! LOL! TampaAnimusVortex Feb 2014 #32

So if I answer all those questions I get a star or something LynneSin Feb 2014 #33

Man... you just buy into all that main stream media stuff don't ya? TampaAnimusVortex Feb 2014 #36

Whatever LynneSin Feb 2014 #38

Name the person at the top of the pyramid... TampaAnimusVortex Feb 2014 #41

Sorry I don't really track the top scores in blackmarket business and money laundering LynneSin Feb 2014 #45

Oh, Im already safe... TampaAnimusVortex Feb 2014 #46

You do know what a pyramid scheme is don't you? LynneSin Feb 2014 #48

No, my point is that there is no "TOP" TampaAnimusVortex Feb 2014 #50

How do you know the media is wrong about the MtGox fallout? cemaphonic Feb 2014 #52

I'll play cemaphonic Feb 2014 #51

Yawn... TampaAnimusVortex Feb 2014 #53

What can I invest my bit coins in? joeglow3 Feb 2014 #55

Investing in bitcoins is investing in the utility of the underlying technology... TampaAnimusVortex Feb 2014 #56

I am not questioning uses for the technology behind it joeglow3 Feb 2014 #57

You are correct somewhat... TampaAnimusVortex Feb 2014 #58

Well, ENRON stock was all over the page too, before it finally crapped the bed! MADem Feb 2014 #28

Yawn... this is a normal day for bitcoin... it dies all the time apparently. TampaAnimusVortex Feb 2014 #31

Yah, well, you seem awfully interested in defending it in this thread. MineralMan Feb 2014 #35

Wake yourself up...I'm not touching that stuff with a ten foot pole! MADem Feb 2014 #54

I want no part of this. zappaman Feb 2014 #8

#1 pro to bitcoins: cemaphonic Feb 2014 #11

Yes. sagat Feb 2014 #14

The face of Bitcoin: Tommy_Carcetti Feb 2014 #10

Maybe they should hold off on that for awhile...... LynneSin Feb 2014 #19

So this guy is the new Bernie Madoff? Skidmore Feb 2014 #22

I was thinking of that when I wrote my last post (scroll up) LynneSin Feb 2014 #25

I suggest they work on their data security and other issues MineralMan Feb 2014 #26

Mt. Gox made a giant blunder when they decided to sidestep the proper blockchain tech phantom power Feb 2014 #29

You're probably right. MineralMan Feb 2014 #30

I see this as nothing more than a giant pyramind scheme LynneSin Feb 2014 #34

Libertarians and Linux afficianados love bitcoin. MineralMan Feb 2014 #37

Well I was just yelled at by another poster for reading Mainstream media LynneSin Feb 2014 #39

But, see, Libertarians believe that their systems are MineralMan Feb 2014 #43

Digital currency is apolitical - its a tool, neither right nor left. TampaAnimusVortex Feb 2014 #40

Here's what I think: MineralMan Feb 2014 #42

FUD - (Fear Uncertainty and Doubt) TampaAnimusVortex Feb 2014 #44

Ah...have a pleasant day for yourself. MineralMan Feb 2014 #47

Next they'll want your Social Security number and Google account password jsr Feb 2014 #49

Arrrrr ...gather to me L0oniX Feb 2014 #59