As Bitcoin is becoming more centralized, BTSX solves Bitcoin's problem

Started by bluebit, September 16, 2014, 05:34:52 PM

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luckybit

#9
September 18, 2014, 04:01:36 AM
Quote from: CoinHoarder on September 17, 2014, 11:36:05 PM
Quote from: luckybit on September 17, 2014, 08:01:39 PM
How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.

From memory, there was over 700,000 Bitcoins stolen/missing from Gox. I could be off on that though.

Suppose they decide to sell it off slowly, for how long could it suppress the price?
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

CoinHoarder

#8
September 17, 2014, 11:36:05 PM
Quote from: luckybit on September 17, 2014, 08:01:39 PM
How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.

From memory, there was over 700,000 Bitcoins stolen/missing from Gox. I could be off on that though.
[url="https://www.decentralized.tech/"]https://www.decentralized.tech/[/url] -> Market Data, Portfolios, Information, Links, Reviews, Forums, Blogs, Etc.
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James212

#7
September 17, 2014, 09:32:29 PM
Interesting note.  The Boston Federal Reserve, in an article today on Coindesk agreed with BitShares stating that Bitcoin Mining is flawed

http://www.coindesk.com/boston-fed-bitcoin-revolutionize-payments/        ....see section "mining process flawed" half way through the article
BTS: theangelwaveproject

luckybit

#6
September 17, 2014, 08:01:39 PM
How many Bitcoins were stolen in the MtGox heist? Was it enough that it could crash the price if the hackers involved were to start selling their stash?

Bitcoin might not be a good investment considering the unusual incentives combined with centralization of ownership of the Bitcoins themselves as well as hashing power.
[url="https://metaexchange.info"]https://metaexchange.info[/url] | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

cass

#5
September 16, 2014, 08:45:03 PM
3k views on one day ... not so bad  +5%
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

xeroc

#3
September 16, 2014, 05:56:50 PM
this is now the third thread about this
https://bitsharestalk.org/index.php?topic=8967.0

bluebit

#1
September 16, 2014, 05:34:52 PM Last Edit: September 16, 2014, 05:36:24 PM by bluebit
This video was posted on Reddit today, explains why Bitcoin price isn't rising. I believe the time is getting very close in that we'll see a horde of Bitcoin users rushing into BTSX, enjoy

https://www.youtube.com/watch?v=_-TLA3j-ic4&feature=youtu.be&list=PL1zCD-urlm3iuJlUhq7Nwl5KuVXVShHKO
BTSX TipMe: bluebit
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