snitko

33 ms·

271.
by snitko 13y ago
I cannot so any clear advantage over simple_form here.
272.
by snitko 13y ago
If this patent gets accepted, I think US may never see any Bitcoin exchange except EBay. This is completely stupid. There's nothing fundamentally special about a Bitcoin exchange. Trading engine and all the other parts are, of course,
273.
by snitko 13y ago
This will be another excuse to not release any official specific information about what happened.
274.
Mt. Gox has at least 200k BTC(reddit.com)
5 points by snitko 13y ago|4 comments
275.
by snitko 13y ago
Yes, this is a reasonable concern, I agree. One could argue that a buyer actually planned the bailout to capitalize on Gox users, who, obviously, are going to pay some percentage of their balances for the whole operation. However, Gox custo
276.
by snitko 13y ago
Still, I think it is a reasonable proposal. Not something that can be done quickly, but reputable companies could bail out Gox, then try to convince everyone to accept the new version of the client which would allow Gox coins recovery.
277.
by snitko 13y ago
It's not one private body. I think in this case one might say all MtGox customers would be asking miners to do that.
278.
by snitko 13y ago
This is beautiful and would show how the community could deal with a critical situation without any kind of government intervention or regulation. Upd. Also, in this case, I think an acquisition is a very probable option.
279.
by snitko 13y ago
The second link is actually a pretty great speculation. My only objection is that it is rather improbable to lose all 788k BTC. How dumb you should be to keep all the coins in a single stash? Or to keep keys to different stashes in one plac
280.
by snitko 13y ago
So now, the only way in which someone would buy Gox is if the crisis strategy posted earlier is not very accurate. That is, if coins are NOT lost, but indeed are inaccessible for some reason and there is a chance of recovering them. No one
281.
by snitko 13y ago
I think no one would be willing to buy MtGox knowing they wouldn't be paying the debt. Imagine MtGox customers going to mtgox.com, then being redirected to Coinbase: it's like saying "Hi, we bought MtGox. We know you've
282.
by snitko 13y ago
And what would be the point of that? No one would ever trust anything to Gox, unless it returns the money.
283.
by snitko 13y ago
See my reply below.
284.
by snitko 13y ago
If indeed they lost 770k BTC then, in my view, there can only be two reasons someone would buy them: 1. A buyer truly believes that Gox death would mean Bitcoin death or stagnation for 5-10 years and, thus, his own coins would be worthless
285.
by snitko 13y ago
There are two people on the IRC channel answering questions. When the official #mtgox channel on freenode was muted (reason support gave: until we get answers from mtgox management) they kept talking to people on the unofficial channel ##mt
286.
by snitko 13y ago
This statement at least seems like he stopped trying to bullshit people. He openly said that staff was instructed to not give out any info, which probably means they can't talk. I do not think this is the choice they or their lawyers m
287.
Open Letter to Mark Karpeles(reddit.com)
2 points by snitko 13y ago|0 comments
288.
by snitko 13y ago
Yeah, but how incompetent can you be to lose 700k of coins? I mean at some point you'd look and say, "hey, that's weird, we only have 400k left in our cold storage!"
289.
by snitko 13y ago
> The cold storage has been wiped out due to a leak in the hot wallet. This sounds like some kind of bullshit.
290.
by snitko 13y ago
I feel very sorry for the OP. Unfortunately, this is what happens when you're not a customer of the organization that protects you. Police officers will not be paid less if they mistreat the people they're supposed to protect. To
291.
by snitko 13y ago
> It's because they transcend nation states and hence democracy. They can pick and choose from different jurisdictions for different purposes. Pay taxes here, use good infrastructure there, conform to environmental standards or lab
292.
by snitko 13y ago
I'm amazed at how people are scared of corporations more than governments. Corporations are kept in check because all the money they spend on things are their own money. Now those could be evil things they spend their money on, indeed.
293.
by snitko 13y ago
Great question. So, in this example, City Downstream is the one interested in clean water and City Upstream couldn't care less. What happens without a government? City Downstream chips in for a bunch of guys to go up there and beat the
294.
by snitko 13y ago
There were no companies offering Bitcoin exchanges audit because the industry is very young. Expect those companies to appear (unless regulators start messing up with exchanges). If they don't appear, it means there's not enough d
295.
by snitko 13y ago
> If we don't restrict some choices in the short term, then we can end up with no choices in the long term Is it a chant or something? We can end up with no choices. Or maybe we will end up with more choices. Can you prove it logi
296.
by snitko 13y ago
No, but you have to be kidding yourself if you believe that Bitcoin will not make governments weaker and libertarian-minded people stronger. Satoshi, who one can argue, is a libertarian/crypto-anarchist allegedly holds 10% of all Bitco
297.
by snitko 13y ago
I personally would be very much willing to pay for an audit of an exchange before I make the choice of which exchange to use. As many other Bitcoin traders. Who else do you think?
298.
by snitko 13y ago
No. People in the Bitcoin community would not in a million years want governments be involved in Bitcoin, regulating things. Exchanges need independent audit and insurance, but not greedy government bureaucrats waiting to be bribed. We want
299.
by snitko 13y ago
The problem here is that regulation is not voluntary. So, for example, if I don't trust this exchange - fine, maybe I will only go to government approved exchanges. But then another fella may feel he trusts this unapproved exchange. It
300.
by snitko 13y ago
No. This should never be an excuse for finding a better solution because people would not want to look for it and because it is extremely difficult to undo a regulation put in place. You're saying regulation would work better than an i

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