Mt. Gox 'throttles' trading to tame bitcoin price swings | Page 2 | TigerDroppings.com
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings

Can you provide the name of the insurance company?


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Can you provide the name of the insurance company?


Beauchamp McSpadden

(btw, it's in the guy's sig block in the link, but expecting you to read is probably expecting too much)


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Beauchamp McSpadden


Which is not an Insurance Company, it's an Insurance Broker. THEY did not insure anything. I did read the sig.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Which is not an Insurance Company, it's an Insurance Broker. THEY did not insure anything.


Guess I was wrong. My bad.


ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
10176 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

If they do something to mitigate the effects of the attacks, y'all will rip into them and attempt to use it as a means to denigrate bitcoin.


I would say that if they are in fact the victim of DDoS attacks (I like to give them the benefit of the doubt, but admittedly it would be financially advantageous to pretend so they can stop trading whenever they please) then trying to get rid of the wild price swings is probably a good thing.

But it seems to add some centralization to something that was designed to be decentralized.


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LSURussian
LSU Fan
Member since Feb 2005
85145 posts
Online

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Beauchamp McSpadden



Which is not an Insurance Company, it's an Insurance Broker.

:bitchslap:


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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Guess I was wrong. My bad.


Well admitting it is the first step towards recovery.


And any info on the type of insurance policy allowed it's premiums to be paid in bitcoin?
This post was edited on 4/22 at 10:50 am


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
16914 posts
Online

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

And any info on the type of insurance policy allowed it's premiums to be paid in bitcoin?
In Wiki's perfect world it just has to be E&O insurance for finance professionals.


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

In Wiki's perfect world it just has to be E&O insurance for finance professionals.





Maybe cell-phone replacement insurance will accept bitcoin? I cannot imagine a reputable company creating actuarial tables based on bitcoin revenues especially with how volatile bitcoin prices are.


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

And any info on the type of insurance policy allowed it's premiums to be paid in bitcoin?




So no info on this?

Image: http://legacy-cdn.smosh.com/smosh-pit/062011/disney-son-lion.gif


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58426 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

I cannot imagine a reputable company creating actuarial tables based on bitcoin revenues especially with how volatile bitcoin prices are.


I saw an actuarial who tried it and his head exploded.


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

I saw an actuarial who tried it and his head exploded.





Probably passed out from laughing too hard


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gizmoflak
Georgetown Fan
Member since May 2007
9277 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

If the NYSE pulled this kind of bullshite, people would go to jail.


You should WARN them before they're carted off to jail.


quote:

Supercomputers could track ultrafast trading across the nation's many markets and allow regulators to impose rules that might slow down the market and head off a repeat of the May 2010 "flash crash" — or worse economic meltdowns.


quote:

It would be like a NASCAR race yellow flag warning drivers to slow down, scientists say.


quote:

Regulators with weak and incompatible computer systems have set safeguards. One uses shutdown switches — "circuit breakers" — to halt all trading. A second, called "limit up, limit down," cancels trades outside a normal price range.













WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:


So no info on this?


All the info I have on it is in the link I posted earlier. You could email the guy who posted it and ask him if you were truly interested.


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

You should WARN them before they're carted off to jail.









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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

You should WARN them before they're carted off to jail.



So, what exactly in that article refutes my statement?

NYSE shuts down, they better have a damn good, verifiable reason to do so; Because the regulatory authorities (not to mention the major financial media) will be crawling up their arse with a microscope in a matter of seconds. Mt.Gox shuts down, they claim DDOS attacks, which no regulatory authority CURRENTLY has to verify.
This post was edited on 4/22 at 5:54 pm


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

Mt.Gox shuts down, they claim DDOS attacks, which no regulatory authority CURRENTLY has to verify.


So then don't use their services if you don't like the way they operate and/or don't trust them.

Aren't free markets awesome?


Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

So then don't use their services if you don't like the way they operate and/or don't trust them.


I don't and won't, just in case my views on bitcoin have been unclear up to this point

quote:

Aren't free markets awesome?



I truly believe they are, but when an exchange holds almost 80% of the current trade volume, and smaller exchanges are closing left and right, it's hardly a "free market" when the only other game in town is even more unproven and untrustworthy.


gizmoflak
Georgetown Fan
Member since May 2007
9277 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings
quote:

I truly believe they are, but when an exchange holds almost 80% of the current trade volume, and smaller exchanges are closing left and right, it's hardly a "free market" when the only other game in town is even more unproven and untrustworthy.




Vols&Shaft83
Tennessee Fan
Member since Dec 2012
25052 posts

re: Mt. Gox 'throttles' trading to tame bitcoin price swings


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