Bitcoin trading halted until 10 PM Eastern tonight

[Gaddafi Duck]

A few people are going to have egg on their faces depending on how bitcoin performs. Me? I will just sit on the sidelines and watch. This is fun drama

there wont be any egg on my face, even if bitcoin goes to a million as many think.

just as theres really no egg on my face if i roll my eyes and shake my head at my buddy who puts $1,000 on double zeroes at a roulette table. the fact it will come up once every 38 or so spins makes it a gambling proposition.

[jclay2]

I don't find sanctions very funny. I'm glad you both do. How nice that your spoiled selves never lived in a $#@!ty country before.

Dude calm down.

[Gaddafi Duck]

I don't find sanctions very funny. I'm glad you both do. How nice that your spoiled selves never lived in a $#@!ty country before.

heh..well..i have lived in mexico and china...i've traveled throughout southeast Asia...from singapore to denpasar...been across canada and the USA...and im 23 years old. i've bought an entire meal for less than 1 USD, and purchased a baskin robbins strawberry shake south of the equator for 65,000 rupiah.

and you've been on google maps using street view. a 21st century marco polo

[muh_roads]

Dude calm down.

I really wonder whose side some people are on. If we are all still on the same side, then there is still a lot of misconceptions here about why BTC has value to so many.

[muh_roads]

heh..well..i have lived in mexico and china...i've traveled throughout southeast Asia...been across canada and the USA...

and you've been on google maps using street view. a 21st century marco polo

Then why are you being such a dick towards something that helps people out?

[Bruno]

You used to be able to buy a house in Amsterdam with a tulip.

That said, I still wish I would have bought some bitcoins at $1 or so when I first heard of them, but am glad I didn't at $250.

[Gaddafi Duck]

Then why are you being such a dick towards something that helps people out?

snap back to reality, whoops there goes gravity

[ChristianAnarchist]

mtgox seems to be having more "technical difficulties". Cannot load the page.

Of course it happened after I put in a buy order that I can not cancel now if I see a plunge (because I cannot see anything).

What other exchanges are working to see what their values are?

[muh_roads]

snap back to reality, whoops there goes gravity

Go Keynesians! Yay! Keep cheering them on! I love hating on things that add light at the end of the tunnel.

[jclay2]

Go Keynesians! Yay! Keep cheering them on! I love hating on things that add light at the end of the tunnel.

Most of the people who dislike bitcoin are long lots of physical pms and despise fiats.

[oyarde]

Then why dislike FRN's? It's all paper since you don't seem to care.

I do not own much paper at all , some stocks & bonds, about everything else in some sort of physical assets ,land, copper , silver etc.FRN's are backed by nothing .

[oyarde]

The internet is different. No one loses money on the internet. Also, everyone I meet on the internet has a IQ score of at least 140.

I have lost money on about anything you could think of and made money on about the same, always a little nicer when the gains outnumber the losses

[muh_roads]

Most of the people who dislike bitcoin are long lots of physical pms and despise fiats.

Sigh...so tired of people throwing around the word fiat...

But anyway, nobody is telling anyone not to diversify. Instead of crawling into a hole I would rather fight the elite at their own game with something that can't be inflated to infinity while also being able to send instantly to anyone you want at any time.

Do people even understand how important digital is to a world economy?

Good luck sending your metals to someone else not near you without paying a lot for shipping, insurance & time. When the real digital debt notes collapse, people will need something else...

BTC isn't competing with metals. It will help you attain metals easier without some government nosing up your business.

People need to think of BTC as more of a payment processor that answers to no government.

[Tod]

What is going on with Bitcoin? I tried visiting the Mt Gox site but got a message:

The server at mtgox.com is taking too long to respond.

[RickyJ]

I do not own much paper at all , some stocks & bonds, about everything else in some sort of physical assets ,land, copper , silver etc.FRN's are backed by nothing .

They are not backed by a commodity, but they are backed by the US military. So to say FRN's are not backed by anything is not really true.

[muh_roads]

They are not backed by a commodity, but they are backed by the US military. So to say FRN's are not backed by anything is not really true.

Yeah technically they are backed by oil via the military. Petrodollar.

Unsustainable cycle. It's like an infinite turd coming out of the ass that comes up to the mouth to self-nourish the body...

[jclay2]

They are not backed by a commodity, but they are backed by the US military. So to say FRN's are not backed by anything is not really true.

Bitcoin needs to find a way to back itself with something like gold/silver/$'s/oil. Really anything. Maybe we could issue an etf and the shares that would utilize crypto currency technology?

[muh_roads]

Bitcoin needs to find a way to back itself with something like gold/silver/$'s/oil. Really anything. Maybe we could issue an etf and the shares that would utilize crypto currency technology?

It already has value. The value of secretly sending instantly without someone else stopping you.

The more people think about BTC like a payment processor instead of just a currency, the more it will make sense. The open-source software has value to what the user wants to do with it. BTC doubles as two different things.

[Crystallas]

They are not backed by a commodity, but they are backed by the US military. So to say FRN's are not backed by anything is not really true.

Backed by coercion and force? Awesome, where do I sign up. /statism

[Carehn]

Bitcoin- a sound currency. LOL

[newbitech]

[ChristianAnarchist]

Just woke up and found my trade did not execute even though the price went below my asking price of 69!! What's with that? I put in my trade for $69 at MtGox at 22:00 on 04-11, but when it went to a low of $65 at 02:00 on 04-12, nothing happened. I'm so getting out of MtGox when I get my coins...

[Crystallas]

Just woke up and found my trade did not execute even though the price went below my asking price of 69!! What's with that? I put in my trade for $69 at MtGox at 22:00 on 04-11, but when it went to a low of $65 at 02:00 on 04-12, nothing happened. I'm so getting out of MtGox when I get my coins...

Well, it's an exchange. I don't like Gox. But I think it's important to know what happened here so you don't get burned under the same impression later.

You made an order for a trade. This means that someone has to sell x amount at the set price, for you to buy. Whether your buying bitcoins or usd. If other people were ahead of you, and placed a buy order at that price too, the order gets executed in queue(well, maybe not, Gox has been a little shady with this at times by giving verified users a bump). Let's just say that you were late in the queue to stay on topic. You made an order for 1 BTC(or the other way around, but I'm going to say BTC, just to keep this simple for me), there were 80 BTCs being sold at $69. The first 4 people snatched them all up. Then your order gets skipped until someone is selling the number to match your request, and you are in front of the line. Now, you say the price went to 65 and you were skipped? Thats because those orders were also ahead of you in the queue. That is one issue with the Gox lag that has occurred and it is complete bull$#@!. That is NOT how an exchange is supposed to operate. The highest bids are supposed to get the priority.