SRL Archive - Technology

I invest on another exchange, buying low and selling high.

This caught my eye.
Apparently they ceased all actions/withdrawals and relocated to a virtual office = Price of bitcoins on their exchange drops all the way from $500 to $130.
https://www.mtgox.com/img/pdf/20140220-Announcement.pdf

Never saw what the big deal was with bitcoints.. Computers guessing math and "creating" virtual money which is being sold for real money :l
Not sure how moving to another office can affect a "currency" that badly.

From: Brandon
Never saw what the big deal was with bitcoints.. Computers guessing math and "creating" virtual money which is being sold for real money :l
Not sure how moving to another office can affect a "currency" that badly.

I believe it was because they left their "real" office? My guess is that because they are so volatile that the price dropped as the trading stopped while they moved.

Why do people feel the need to go by the Mt. Gox price? The price on Gox has always been inflated and it hasn't been the top exchange for awhile. As for why the price is so low, Gox suspended btc withdrawals because they had some issue and lost lots of bitcoins. The price plummets because no one will put money into the exchange to buy bitcoins if they can not withdraw the bitcoins. People panic and sell. I believe they moved office because people were protesting out side of their office. Them moving office has no impact on whether or not you can trade on their website.

This is only one exchange, there are plenty of others whose indexes are still around the $550 mark,

From: Four
I invest on another exchange, buying low and selling high.

Professor sent me this: http://www.cdrinfo.com/Sections/News/Details.aspx?NewsId=39687 and http://www.reuters.com/article/2014/02/28/us-bitcoin-mtgox-bankruptcy-idUSBREA1R0FX20140228


Not sure if bitcoin is going to live any longer tbh.. With things like that happening, I think a lot of people are going to get out while they can..

Not to mention SR being shut down. I assume that was where 50% of bitcoin exchanges came from(for buying/selling bitcoins for/from SR). At least, from what I remember… Bitcoins seemed to be pretty much only used there beside the private investment stoof and mining what not. But then again, it's been like 2 years? Lol

Its a rollercoaster, many people sold out, new ones bought in. Never ending lol.
Safe to say I try to cash out every other week while still making profit.
Another exchange shut down today, 'was hacked'.
http://www.reuters.com/article/2014/03/04/us-bitcoin-flexcoin-idUSBREA2329B20140304

From: Brandon
Professor sent me this: http://www.cdrinfo.com/Sections/News/Details.aspx?NewsId=39687 and http://www.reuters.com/article/2014/02/28/us-bitcoin-mtgox-bankruptcy-idUSBREA1R0FX20140228


Not sure if bitcoin is going to live any longer tbh.. With things like that happening, I think a lot of people are going to get out while they can..

From: Pakyakkistan
Not to mention SR being shut down. I assume that was where 50% of bitcoin exchanges came from(for buying/selling bitcoins for/from SR). At least, from what I remember… Bitcoins seemed to be pretty much only used there beside the private investment stoof and mining what not. But then again, it's been like 2 years? Lol

There are hundreds upon hundreds of legitimate companies that accept bitcoin for payment. Silkroad could never account for 50% of $7billion.

It was to do with a duplication bug where people could theoretically spend their bitcoins twice.

From: Countan
It was to do with a duplication bug where people could theoretically spend their bitcoins twice.

Completely incorrect.

From: Brandon
Professor sent me this: http://www.cdrinfo.com/Sections/News/Details.aspx?NewsId=39687 and http://www.reuters.com/article/2014/02/28/us-bitcoin-mtgox-bankruptcy-idUSBREA1R0FX20140228


Not sure if bitcoin is going to live any longer tbh.. With things like that happening, I think a lot of people are going to get out while they can..

From: Pakyakkistan
Not to mention SR being shut down. I assume that was where 50% of bitcoin exchanges came from(for buying/selling bitcoins for/from SR). At least, from what I remember… Bitcoins seemed to be pretty much only used there beside the private investment stoof and mining what not. But then again, it's been like 2 years? Lol

crypto currency such as bitcoins will ONLY gain more and more popularity as we face a national police state in the future. Silk Road two has been up for some time, there are other BM's on the deep web too. Bitcoins aren't only used for illegal purposes though.

From: Brotein
There are hundreds upon hundreds of legitimate companies that accept bitcoin for payment. Silkroad could never account for 50% of $7billion.

thank you

From: footballjds
crypto currency such as bitcoins will ONLY gain more and more popularity as we face a national police state in the future. Silk Road two has been up for some time, there are other BM's on the deep web too. Bitcoins aren't only used for illegal purposes though.

Not if they get banned :P
And does anyone know whats happening with SR2 after them being hacked?

From: Wetish
Completely incorrect.

Actually, I am completely correct.
The reason that Bitcoin prices plummeted was because Mt.Gox had to close withdrawals. This obviously caused a crash in price. The reason for Mt.Gox closing withdrawals? Because of a duplication bug where people could theoretically spend their bitcoins twice, also known as a Finney Attack.

From: The Killer
Not if they get banned :P
And does anyone know whats happening with SR2 after them being hacked?

What law governs bitcoins? seriously? I'd like to see US DOJ try…
SWIM thinks it is back… I want a forum sections to discuss the deep web on villavu though!!!

From: Countan
Actually, I am completely correct.
The reason that Bitcoin prices plummeted was because Mt.Gox had to close withdrawals. This obviously caused a crash in price. The reason for Mt.Gox closing withdrawals? Because of a duplication bug where people could theoretically spend their bitcoins twice, also known as a Finney Attack.

The bug that caused Mt. Gox to close withdraws is not the same as being able to double spend bitcoin. The bug was a flaw in Mt. Gox's code, not bitcoin.

From: Wetish
The bug that caused Mt. Gox to close withdraws is not the same as being able to double spend bitcoin. The bug was a flaw in Mt. Gox's code, not bitcoin.

You probably know (but for those who don't), someone hacked Mt. Gox and made off with millions…(like 500 mil i think?)…moral of the story, don't store your bitcoins online.

From: cause
You probably know (but for those who don't), someone hacked Mt. Gox and made off with millions…(like 500 mil i think?)…moral of the story, don't store your bitcoins online.

The bitcoins were never there in the first place. Mt. Gox lied to push bankruptcy. It was hacked, but there wasn't 850,000 bitcoins to take.