re: Bitstamp Halts Withdrawls

You smell that? Capitulation

Remember when wiki and josh both vouched for MtGox, even arguing with you I believe it was, when you called it the "Magic Mountain" or something like that?

Of course, back then they thought MG was so terrific because it was the largest btc exchange and its prices always valued btc a few dollars higher than the other exchanges. Our resident bitcoinistas justified the higher price by telling us it was because how large MG was and how much safer they were.

Now that MG has all but collapsed with their btc prices averaging $150/btc LESS than the other exchanges, suddenly that exchange is just a bunch of incompetents. (BTC is down to $494 on Mt Gox this morning.)

Strange how that works....

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With the 'value' of btc dropping by approximately half over the last 6 months

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Bitcoin price on August 13th, 2013 (6 months ago)

MtGox: $108.60
Bitstamp: $97.95
BTC-e: $95.00

Bitcoin price on February 13th, 2014

MtGox: $502.00
Bitstamp: $647.00
BTC-e: $628.70




You suck at math. Or are you going to try and wiggle around and say that you were referring to the all-time high price and not really referring to the price it was 6 months ago?

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Merchants can directly accept bitcoin without utilizing any third parties if they so choose.

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Just a new flash for you. They don't want fricking bitcoin. They want US dollars. That's the reason for the immediate conversion. This isn't some revolutionary deal for them, it's novelty.

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Sweet Mother of Mary

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I know what you're thinking. It's basically like dealing with various drug dealers.

When you click on the "6 month" price history on bitcoinity.com it shows the high price over the last six months to be $1,242.

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You suck at math.

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And you suck at reading comprehension skills. The price of btc has dropped by around 50% "over the past 6 months." That is an accurate statement in spite of your attempt for a gotcha moment. Loser.

For those interested, here's a nice blog post about bitcoin that ignores all the political and emotional aspects of it: I was invited to a meeting at the Federal Reserve, and these are the 4 predictions I made.

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Yesterday, I was invited to The Saint Louis Federal Reserve to speak with a couple of people in the institution about why a business owner like me would be willing to accept Bitcoin. We met informally over lunch, and I was actually quiet pleased with how much my lunch companions knew about the Bitcoin system.

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Our conversation wasn’t about monetary policy or politics; I believe that they were genuinely curious about why I would see value in using Bitcoin when I have U.S. dollars available to me. I felt free to talk about how I came to learning about and ultimately embracing Bitcoin. Our conversation spanned many areas, like how consumers will protect themselves from fraud, and what sort of illegal activities could individuals carry out in the Bitcoin system. I could go into detail about that part of the conversation, but for the most part I wanted to share what messages I hope I conveyed in the conversation.

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The funny thing is that y'all have had your heads so far up your asses over the past 2 years or so that we've been debating this stuff that you fail to recognize the developments as they happen right in front of your faces.

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Contrary to your belief that we are all window lickers, collaboratively we are pretty bright people who have read all of your material, we've looked at some of your links. We've come to the conclusion that at least 2 big players have accepted it in a "conversion to US$ now" scenario. That there are a handful of small companies that nobody has ever heard of that are accepting it. And one gas station in Oklahoma.

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why should anyone take you serious?

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Because we are masters of monetary policy and economics. Both of which you seem to have totally discounted throughout this entire process. Like they don't even exist.