Bitcoin - thoughts?

General Chit Chat
21

Only a few; my usual stomping ground for lost phones are cabs. :slight_smile:

1 Like
22

That’s at least reasonably true. I managed to cash out into silver before the ‘crash’ a couple weeks ago. I wish I’d bought some when it was down at ~$600, it’s back at almost $1000 on Mt. Gox.

23

Now that Mt Gox is all but a memory and 220,000 in bit coin is now missing how does that change your thinking about crypto currency?

24

Well I sure feel better about putting money into this cowboy unregulated market that’s for sure, yep, toally confident that my money won’t be going into a blackhole … :stuck_out_tongue:

and just to stave it off because people keep brining it up, the '08 bank collapse is not an example of a regulated market fucking up, it’s an example of a decade of DEREGULATION leading ot the same problems and catastrophe. As further evidenced by countires who still had higher levels of regulation (like canda) coming through it in much better shape.

25

The details on the final outcome of Mt.Gox are still to be decided, but I’d say you either believe in cryptocurrency as a concept or you don’t. A single exchange failing shouldn’t really impact that IMHO.

–jeremy

26

Agreed. Magic The Gathering Online eXchange succeeding or not shouldn’t sway anyone, one way or the other, on the viability of anything.

Other than the viability of eXchanging Magic The Gathering stuff Onling.

27

The housing bubble was identified at the time by Austrian types, and even some Marxists. Its origins were rooted in the Greenspan era of monetary central planning. You have interest rates in the 1s and 2s from the fed, so tons of bad loans are made in the later Greenspan years, and eventually the wheels fall of the wagon.

On the deregulation piece, the total number of financial regulation restrictions rose by about 18% from 1997 to 2008.

There were many indications that Mt. Gox was wholly incompetent, and it’s probably a good thing Mt. Gox is failing. In ‘real world’ banks, they don’t have to worry about losing depositor’s money since the FDIC will swoop in, and they will be bailed out by the government.

28

Don’t. :slight_smile:

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