[SamDiamond]

I laughed and yapped about it yesterday, but not today.

Some people are going to lose a lot of money.

A lot.

http://www.latimes.com/business/hilt...#axzz2t7JP7uf2

Bitstamp, one of the largest bitcoin exchanges in the world--if not the largest--today became the second major firm to suspend customer withdrawals of bitcoins from their accounts, or "wallets."


The firm's action follows a similar freeze last week by Mt. Gox, another major exchange firm. In both cases the firms attributed the suspensions to the need to address a technicality in the bitcoin system known as "transaction malleability." Neither firm has said when transactions will resume.


In simple terms, transaction malleability could allow someone to spend bitcoins twice, which is tantamount to counterfeiting the virtual currency. That's an eventuality that bitcoin aficionados always have suggested is impossible in the algorithm-driven bitcoin system, because every transfer ostensibly has to be validated before it's completed.

As Boston University finance expert Mark T. Williams told us the other day, "the cracks are starting to show." if these problems aren't solved quickly and decisively, customers will evaporate. That points to how the supposedly paramount virtue of the bitcoin system may be its biggest shortcoming: no one's in charge.

http://www.latimes.com/business/hilt...#ixzz2t7KJvWy6

[bigboydan]

I tried to tell everyone it wasn't a good time to be investing in BTC but they didn't listen. :

[Lo$t]

bitboydan?

[bigboydan]

bitboydan?

What do you think cwissy :

[ACoochy]

I wonder how many billions in counterfeit money exists within the non virtual currency community?

If anything you should be thanking btc
For being so malleable and having such strong integrity, unlike what we have now where the only thing holding it together is people's belief that it works. Can think of 15 trillion reasons why it shouldn't work though...

[SamDiamond]

Cooch and Muldoon..

Not being a dick-- just interested in this.

Have you noticed the price this morning?

Gox getting close to dipping under 300.

Other exchanges now down at 500.

[flyingillini]

Nothing to panic over, you have to know what you are doing. I have a beach house in Tel Aviv paid for all from mining coins when they first came out, best investment I've ever done. Still have a large position but I'm in at $12 a coin, I love BTC, these are all novice BTC traders who are getting jacked around.

[ACoochy]

Cooch and Muldoon..

Not being a dick-- just interested in this.

Have you noticed the price this morning?

Gox getting close to dipping under 300.

Other exchanges now down at 500.

You really havent studied the longterm trends of this currency have you?

[SBR_John]

All the bad news and they are still $670. Amazing. There are a LOT of buyers on dips. If that bid and ask info is correct the ratio of buyers to sellers looks like 4-1. But I can't pull the trigger.

[muldoon]

According to bitstamp, the delays were due to a denial of service attack.

Their site says they'll resume withdrawals later today.

SamDiamond kind of reminds me of the reverse Paulypoker. He'd find the absolute highest offer on localbitcoins and post that as the going price. Sam finds the lowest dip and uses that as proof of the inevitable crash.

[Itsamazing777]

Lol at the posters a few month ago on here, laughing at us for not buying bit coin.

Buried.

[ACoochy]

Lol at the posters a few month ago on here, laughing at us for not buying bit coin.

Buried.

Am still up DD since buying in again 3 days ago, even with all the hassles btc has had between now and then...

Show me another currency that has such resilience in the face of adversity. ..