mtgox stops all withdraws, dont move anything in

Scataphagos said:
I'm a REALLY smart guy with LOTTTTTS of money. You gonna call me ignorant? (I ain't Marilyn Vos Savant, but my IQ is about 140.)

I'm not sure Bitcoint is a "fool's errand", but looks like it. If it ever plays out, I'll be among the first to claim I was wrong. But so far, I'm still of the opinion Bitcoin is backed by "speculators and hopers" with their head in the clouds.
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Not to offend you, but indeed if you have not studied anything about the inner workings of the Bitcoin-protocol and it's usefulness, but still make comments about its validity {only based a bubble like price chart}.. then that is called ignorance (in the meaning of not knowing where you are talking about).
And by the way: my IQ is not far from yours (130), but I'm open minded to new innovations and eager to learn.
 
Scataphagos said:
I'm still of the opinion Bitcoin is backed by "speculators and hopers" with their head in the clouds.
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I want to add that it's already backed by huge shops: Overstock, TigerDirect, ZipZap, CheapAir (200.000 hotels) already.
And the following are coming soon: Newegg, Netflix, eBay.

Not so much "speculators and hopers" as you claim....
 
just21 said:
If you want to transfer value to someone abroad
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Well, you are arguing the easy money transfer feature, but most bitcoiners own it for the "easy money, fast investment" feature, which can go away at anytime.

I agree with Hoi (well, I also have the 20/20 hindsight), the close to $600/50% drop was a perfect buy in point. My attitude towards ponzis is this:

It is alright to try to make money in risky/shady investments, as long as you are aware of the risk, and you know the nature of the beast....

Oh since we are sharing IQs mine is perfect, 100. I think it means I can not be smarter than I already am.
 
Hoi said:
I want to add that it's already backed by huge shops: Overstock, TigerDirect, ZipZap, CheapAir (200.000 hotels) already.
And the following are coming soon: Newegg, Netflix, eBay.

Not so much "speculators and hopers" as you claim....
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Yet, backed by "nothing but faith"... all I'm saying is "players beware".
 
Scataphagos said:
Yet, backed by "nothing but faith"... all I'm saying is "players beware".
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No backed by Commercial interest. They earn 3% more income, and can close 50% of their fraud-departments (quote by Overstocks CEO)
 
Hoi said:
Not to offend you, but indeed if you have not studied anything about the inner workings of the Bitcoin-protocol and it's usefulness, but still make comments about its validity {only based a bubble like price chart}.. then that is called ignorance (in the meaning of not knowing where you are talking about).
And by the way: my IQ is not far from yours (130), but I'm open minded to new innovations and eager to learn.
More...

Currencies are either "backed by gold" or "full faith and credit of issuing authority" (government). Currencies are always a "store of value" and a "medium of exchange". Bitcoin is not proven as a store of value... and its utility as a "medium of exchange" is suspect due to its wild and willy-nilly fluctuations in value. Player's beware.

If Bitcoin turns out to be financially significant, I'll be among the first to claim my suspicious were wrong. But as an "old guy with many years of financial experience", I suggest fiscal caution vs. "overbelief".
 
Hoi said:
my IQ is not far from yours (130), but I'm open minded to new innovations and eager to learn.
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Hope you're not blindsided to false concepts and scams.

We all should not forget about Mark Cuban... cashed out of the "dot.com" bubble and bought the Mavericks with his phony gains... hope all of you "Bitcoin believers" do something similar.
 
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