Skip to comments.Bitcoin Prices Rise $90 to Reach Post Mt. Gox Crisis High
Posted on 03/03/2014 1:48:22 PM PST by Errant
The price of bitcoin is up more than 15% today on the CoinDesk Bitcoin Price Index (BPI), having reached a high of $677.58 before settling to $659.50 at press time.
The $659 figure was roughly $90 more than the opening price of $560, and marked the highest CoinDex BPI prices observed since mid-February, when troubled bitcoin exchange Mt. Gox was removed from the average amid escalating concern about its financial state.
Press time lows on both BTC-e and Bitstamp were the highest observed since 23rd February, when Mt. Gox CEO Mark Karpeles abruptly resigned from his board of director position at the Bitcoin Foundation
Indeed, the rise in the price of bitcoin was significant at points today, with most price gains happening within a roughly three-hour flurry of buying activity peaking at 16:00 pm GMT.
Speculation was rampant as to the exact cause of the increases, with message boards suggesting that a single buyer had moved the market. Others attributed the rise to the general feeling of optimism from investors following the demise of troubled Japan-based bitcoin exchange Mt. Gox and the UKs decision to ease bitcoin taxes.
Further, the price jump happened in spite of negative news stories such as the ongoing unrest in Ukraine and renowned investor Warren Buffets high-profile rebuff of bitcoin.
(Excerpt) Read more at coindesk.com ...
If anyone actually is stupid enough to fall for this, then please buy some Bitcoins.
Ponzi could not have dreamed up a better sucker magnet.
The amount of gullible people in the world is endless...
well.. it’s at least 647 times stronger then those slips of paper in your pocket with the magic scribbles
Yep, but this is suppose to be a thread about Bitcoin.
It’ll be dead in a week. /sarc
I love how those who know little about BTC seem the shrillest. If there was ever a metric for the support of BTC its evaluation during the past month is the most relevant.
and if so, why can't Mt Gox(of TPTB) simply void the stolen Bitcoin ID#'s and issue new ID#'s to those that were stolen and make whole those that were stolen to the rightful owners?
I’ve noticed how when the stock market takes a big hit, Bitcoin gets stronger.
When Bitcoin takes a hit it recovers quickly.
I made $1400 today.
Not too many folks do that.
Still up a lot for the year.
It may be a scam, but if you are fast, it can be nice. I could lose them ALL tomorrow, I would still be WAY ahead of the game.
I put them on sched d with any other stock trades. I guess they could nail me for doing it wrong, if I am, but I treated them as cap gains and paid the taxes.
I got audited a couple of years ago for my business. I don’t need to go through that again.
It isn’t 100% clear that the Bitcoins were stolen. They could have been lost, embezzled, or confiscated by a government. There still very few details on what is going on.
They do have a unique number ( hash) but lets say I have one Bitcoin and I want to send 0.5 ( half) to you. That transaction will generate a new hash for you. Take a look at this website
Move your mouse around until it counts down to zero. It will produce a wallet with a public (Bitcoin) address and a private key. The private key controls the Bitcoin. Whoever has it can spend the Bitcoin. Bitcoin does not care who owns it. You have the private key, you can spend it. Some person or person’s got access to the private keys at MT GOX. Weather someone who works there or a hacker it does not matter. You control the private key, the money is yours.
I use bitaddress.org with my hard drive removed and no internet access inside a linux environment. I run it in the RAM ( Random Access Memory) When I reboot the RAM it is wiped and there is nothing for hackers to steel. A lot of bright people are working on making this more secure and we will get there. Right now it takes a little work to make them secure.
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