Quote from: ZephramC on January 15, 2016, 03:46:23 PM

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Quote from: becoin on January 15, 2016, 02:09:13 PM

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 Cool

Cryptsy failed because Bitcoin works. Gee, I hope this post isn't deleted too.

By "works," you mean "makes shit like Cryptsy possible"?

Anything can be exchanged in a custodial exchange. Poor performance is no excuse for bailouts.

Anything could be exchanged in an unregulated Magic: The Gathering sort of an exchange, you mean? Nonexistent shit for worthless shit & back again, in a frictionless market, due to plenty of tears & snot lubrication?

Well, yeah you got me there. I'm not a fan of these exchanges. OTOH, the global stock market is crashing so, the bailouts didn't work there either.

Sure. Last time DOW fell 10% in 24 hrs is when?

Like I said, I'm not a fan of these exchanges. They should be regulated like Wall Street so they shut down during flash crashes like this.

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?

WTF does trusting MTGOX have to do with Bitcoin? We've moved past that. Yes, MTGOX type exchanges that use fiat should be regulated. If they don't allow fiat, then they seem to work fine.

"We've moved past that"? Clearly we haven't, see: Cryptsy; Havelock.
No fiat. Plenty of scam.

Custodial exchanges. Try exchanging with crypto's advanced features instead of trusting non regulated anonymous entities.

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.

I am not new. But perhaps I missed something. You mean companies listed on Havelock empoverishing or the Havelock itself<

I mean when you go to a store, and each and every time you buy a snack -- any kind of a snack -- you wind up in the emergency room, getting your tummy pumped, I'd say avoid the store.
Regardless of whether it's the store or the store's suppliers who poison the food.

So, technically no, it's not Havelock, it's their expertly curated offerings

P.S. Which is not to say you should avoid it.
P.P.S. still waiting for the answer re. boldface above.