Last chance of corrupted government(s) to kill bitcoin using their puppets in core dev group. A major, major economic crisis is knocking on the door and their time to ruin bitcoin is running out fast.
No need 4 gubermints to step in here, you Crypto enthusiasts seem to be doing fine all on your own.
"Embattled digital currency exchange Cryptsy is now claiming that it is insolvent.
The exchange alleges in a newly released blog post that it was the target of a hack in July 2014, an incident that it said cost it approximately 13,000 BTC ($7.5m at then prices) and approximately 300,000 LTC (then $2.08m).
"This of course was a critical event for Cryptsy, however at the time the website was earning more than it was spending and we still have some reserves of those cryptocurrencies on hand. The decision was made to pull from our profits to fill these wallets back up over time, thus attempting to avert complete closure of the website at that time.""
Fractional reserve. Because it works
By "works," you mean "makes shit like Cryptsy possible"?
Sure. Last time DOW fell 10% in 24 hrs is when?
So what you're telling me is all this "trustless" bullshit is bullshit?
Bitcoin commerce needs government oversight, just like conventional fiat commerce?
So Bitcoin's basically, a fiat surrogate? only useless for 99.9% of IRL financial transactions?
"We've moved past that"? Clearly we haven't, see: Cryptsy; Havelock.
No fiat. Plenty of scam.
Which would you recommend? Let's say I want to sell 20 BTC for fiat/another coin?
@ZephramC: its track record of empoverishing intrepid investors. You must be new.