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Could you expand your comment a little beyond "Fail." to explain to those of us who aren't totally clued up on BitCoin what is wrong with that statement?
by ZoFreX 13y ago
Could you expand your comment a little beyond "Fail." to explain to those of us who aren't totally clued up on BitCoin what is wrong with that statement?
- wyager 13y agoThe author is using the MtGox price. MtGox is one of the smaller exchanges, and due to their incompetence, their trading system was hacked and Bitcoin withdrawals are disabled. As a result, the price of Bitcoin on Mt. Gox is about 1/5th what it is on all other exchanges. The author is using the mtgox price.
- retroafroman 13y agoThe cash value of Bitcoin declined since last fall, meaning the hacker is making less 'real' money now, if they try to trade the Bitcoin for cash. By hardcoding the asking amount of 0.4 Bitcoin, they are susceptible to the many ups and downs of the Bitcoin/$ ratio.
- gwern 13y agoThat's pretty bad, yes, but I was more irked by the author using a blatantly wrong and meaningless price.