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Started By
Message
re: Stock markets vulnerable to hack - flash crash, about $100 billion disappears
Posted on 4/23/13 at 3:26 pm to WikiTiger
Posted on 4/23/13 at 3:26 pm to WikiTiger
quote:
I simply wanted to use absurdity to point out how silly it is for people to point to a hacked wallet site, or a DDOS'ed bitcoin exchange as a vulnerability of bitcoin itself. Surely you understand that, right?
Dollars are run through banks for the most part, so I can see how banking hacks/issues would be a relevant criticism of the dollar. The same is true for e-wallets and exchanges in regards to bitcoin.
However, your point in this thread is much more of a stretch than anything I have seen from the bitcoin "haters".
1
Posted on 4/23/13 at 3:28 pm to WikiTiger
quote:
Do you think it's possible that better exchanges could be built?
Possible, yes. Probable, no.
quote:
What if a major FOREX began allowing for bitcoins to be exchanged? How would that change your opinion?
Seriously, seriously doubt it but if so then yes.
Posted on 4/23/13 at 3:30 pm to BennyAndTheInkJets
quote:
Seriously, seriously doubt it but if so then yes.
Don't know if this is a sign of anything, but OANDA includes bitcoin in their conversion tool. Maybe one day they'll allow it to be traded.
This post was edited on 4/23/13 at 3:31 pm
Posted on 4/23/13 at 3:39 pm to WikiTiger
quote:
We recently added Bitcoin to the OANDA Currency Converter. We admire it as an interesting experiment in financial innovation and, because we're financial innovators too, we share the excitement such disruptive technologies can bring to mature industries and markets.
quote:
Despite the increased awareness around the cyber currency, OANDA has no plans at this time to introduce Bitcoin as a tradeable currency to OANDA’s fxTrade platform, or to accept Bitcoin as a method for funding fxTrade accounts.
Posted on 4/23/13 at 3:40 pm to WikiTiger
quote:
Can you imagine the hysteria that would be going on right now on this board by certain posters if bitcoin had lost $100 billion in seconds?????
Given that bitcoin has a total market value of less than $1 billion at the moment I would seriously question such a news item.
Posted on 4/23/13 at 3:43 pm to slackster
quote:
your point in this thread is much more of a stretch than anything I have seen from the bitcoin "haters".
Posted on 4/23/13 at 3:45 pm to foshizzle
quote:
Given that bitcoin has a total market value of less than $1 billion at the moment
um, no, its total market value is about $1.5 billion right now
but keep reading to see the point I was making
This post was edited on 4/23/13 at 3:52 pm
Posted on 4/23/13 at 3:49 pm to foshizzle
quote:
Can you imagine the hysteria that would be going on right now on this board by certain posters if bitcoin had lost $100 billion in seconds?????
Reuters says that the drop wiped out $135B of the S&P. The S&P is worth approximately 14.05 trillion.
Drop in the bucket.
Posted on 4/23/13 at 3:51 pm to WikiTiger
quote:If Bitcoin is truly a decentalized peer-to-peer network, then isn't the hack of a peer the hack of the network? I don't really expect you to provide an honest answer since nothing about Bitcoins you have said addresses real problems with the network. You always mention the technological breakthroughs of Bitcoins being the reason that law enforcement will not be able to trace Bitcoin users, but you ignore the possibility of technological breakthroughs by those who want to rip off Bitcoin users. Bitcoin advocates do not have a monopoly on technological advances.
Just like the bitcoin haters around here attempt to paint hacks of semi-related bitcoin third parties as hacks on bitcoin itself.
Posted on 4/23/13 at 3:53 pm to foshizzle
quote:
Given that bitcoin has a total market value of less than $1 billion at the moment I would seriously question such a news item.
bitcoin's market cap is about $1.5B right now ($139/BTC)
Posted on 4/23/13 at 3:53 pm to Poodlebrain
quote:
If Bitcoin is truly a decentalized peer-to-peer network, then isn't the hack of a peer the hack of the network?
:banghead: Posted on 4/23/13 at 3:55 pm to Poodlebrain
quote:
If Bitcoin is truly a decentalized peer-to-peer network, then isn't the hack of a peer the hack of the network?
No.
You continue to crack me up with your bizarre (lack of) understanding of technology.
Posted on 4/23/13 at 3:56 pm to WikiTiger
quote:
You continue to crack me up with your bizarre (lack of) understanding of technology.
That made me cringe not laugh
It's implicit in the nature of "decentralized" that his assertion must be false. There is no network to hack.
This post was edited on 4/23/13 at 3:58 pm
Posted on 4/23/13 at 3:57 pm to WikiTiger
quote:In that cash explain your OP statement about btc losing $100 billion.
no, its total market value is about $1.5 billion right now
Posted on 4/23/13 at 3:58 pm to joshnorris14
quote:Answer why you mentioned MtGox not being hacked since 2011 as if that were a relevant statement.
joshnorris14
Posted on 4/23/13 at 3:58 pm to LSURussian
quote:
In that cash explain your OP statement about btc losing $100 billion.
Cash?
Still committed to acting stupid I see.
Posted on 4/23/13 at 3:59 pm to LSURussian
quote:
Answer why you mentioned MtGox not being hacked since 2011 as if that were a relevant statement.
Assure me you're done acting stupid.
Posted on 4/23/13 at 4:00 pm to joshnorris14
quote:What 'cash'?
Cash?
Are you wiki's fudge packing buddy now? Let him answer.
How can btc lose $100 billion if it is only worth $1.5 billion?
Posted on 4/23/13 at 4:01 pm to joshnorris14
quote:Okay...I take that as your response in lieu of an answer since you've repeated yourself several times without answering the question.
Assure me you're done acting stupid.
You look really foolish.
Posted on 4/23/13 at 4:09 pm to WikiTiger
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