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agmlauncherJun 22, 2011
Tin foil hat: world governments are responsible for this to help ensure that no competitor to their racket of monetary control will ever gain acceptance.
nonmagicalJun 22, 2011
So wait, is the value of a bitcoin back up? The article said "MtGox was shut down before operators rolled back the fraudulent transactions and restored bitcoin value to $17.50." But how can MtGox just decide it's value. Isn't that value derived from a generally agreed upon worth?
axcess99Jun 22, 2011
They are just going to reopen the exchange at that value. It will rappidly shift back to match the other exchanges.
skeloothJun 22, 2011
I really have no care for bitcoins. I've read both good and bad things about them by economists and computer scientists. I'm not a big econ or finance geek by any stretch, but I have absolutely 0% faith that bitcoins will ever be much more than the fad that they currently are. For one thing, the most common use of bitcoins is to buy illegal products online. That doesn't exactly instill confidence in a currency. I'll stick with USD for now.
linuxpersonJun 22, 2011
Bitcoins are a scam. Stick to gold and silver.
axcess99Jun 22, 2011
9 million? My understanding that mtgox claims that while the compromised account may have held that much, they only allow accounts to withdraw $1000 (equivalent) funds per day. So while the compromise did allow the person to pump the the market, they user didn't actually lose more than $1000 dollars (less than 60 bitcoins).