Denial of Service attack per their Twitter
"Mt. Gox founder, Jed McCaleb, appears to be betting against the success of Bitcoin. A recent article on Bloomberg revealed that McCaleb is throwing his weight behind a new centrally-controlled digital currency called Ripple. McCaleb and Ripple co-founder Chris Larsen claim "Bitcoin’s volatility underscores the need for Ripple."
Buh-bye bitcoins.... :)
~wobbles but doesn't fall down~
I honestly wish these sites would shut down their trading APIs.
Bitcoin exchanges should NOT be about profiting over the rise and fall of Bitcoin prices. (Or hell, even the micro-fluctuations of prices.) It's about getting out of fiat.
But how can the exchanges say no to all those delicious fees?
they zag... " It's about getting out of fiat." And when it becomes the fiat of a nation, what next?
If Bitcoin becomes "fiat", (as in the gubmint declares that Bitcoin has legal value), then we win.
Well, by that point, we had probably won a long time ago, but you get my point. ;)
Why would we want them shut down? Let them profit for a while and spend that profit because they feel the need to optimize their software and server process. Let them do this now so that others can make use of those techniques to offer the same service at greatly reduced (competitive) prices when the real migration from fiat happens. I don't relish the entire globe running from fiat and relying on the current crop of BTC exchanges!
Not the exchanges themselves... The APIs for bot trading.
BitCoin Exchange BitFloor Shuts Down
In an amusing development, one of the key alternative BitCoin exchanges, BitFloor, has just announced it is forced to shut down immediately.
So ain't BitFloor. Clearly its an orchestrated assault by JPM and Goldman using their HFT techologies to clog the systems and crash bitcoin's price to zero.
"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"
As near as I can tell, for those who wish to mine bitcoin, the fastest computer wins. Well, there just happens to be an "industry" where they have been developing ever-faster computers for the exchange of financial instruments.... Who is going to win the bitcoin game....?
This is the article that got my posting privileges revoked:
I was thinking of Lloyd & Jamie, you know, "Smart & Smarter", bankrupting Max Keiser. I warned Keiser on his site to play it cool. But every time he bragged on bitcoin, first claiming victory and saying how good it felt to be a bitcoin millionaire, and later on bitcoin breaking $100, there was a hiccup. Namely, an orchestrated take-down designed to make Max a bitcoin pauper. Face it: he's been trampling Lloyd & Jamie for years; why wouldn't they risk a little to liquidate his net worth without anyone being the wiser?
Eh, those are different types of machines.
If JPM starts ordering ASICs, then we might be in trouble.
I hope they order from butterfly labs