Jump to content

Mt Gox admits that everybody's money is gone, files for bankruptcy

TopWargamer
By TopWargamer
in Tech News
 Share
Posted

So uhhhh...

Does this mean I can start to see affordable AMD cards again?

Lol no. 1 you dont use GPUs for bitcoin mining

2 bitcoin is fine. it has already bounced back.

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Lol no. 1 you dont use GPUs for bitcoin mining

2 bitcoin is fine. it has already bounced back.

I wouldn't quite say it's bounced back already, but rather is bouncing back. Pre GOX issues, we were looking at somewhere in the neighbourhood of $800-900/BTC, now it's been hovering in the $550-600 range for a couple days. I think given time it'll go back up, but we'll see how far it goes.

For Sale: Meraki Bundle

 

iPhone Xr 128 GB Product Red - HP Spectre x360 13" (i5 - 8 GB RAM - 256 GB SSD) - HP ZBook 15v G5 15" (i7-8850H - 16 GB RAM - 512 GB SSD - NVIDIA Quadro P600)

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

I wouldn't quite say it's bounced back already, but rather is bouncing back. Pre GOX issues, we were looking at somewhere in the neighbourhood of $800-900/BTC, now it's been hovering in the $550-600 range for a couple days. I think given time it'll go back up, but we'll see how far it goes.

true, but it did bounce back from the sub 400 dollars it had during "the crash" 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Wow, I find it a bit funny how people trusted a company called Magic The Gathering exchange(No joke, that's their name, see NCIX latest video) with their Bitcoins.

Never trust a hug. Its just a way to hide your face - The Doctor (Sounds something like the grumpy cat would say)

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Wow, I find it a bit funny how people trusted a company called Magic The Gathering exchange(No joke, that's their name, see NCIX latest video) with their Bitcoins.

Do you realize that the site started as a sales/trading portal for Magic The Gathering cards? Hence... the name suddenly made sense. The original owner then started dabbling in Bitcoin trading a year later, and then sold it to the current owner, Mark Karpeles. I doubt the new owner intended for Mt.Gox to mean the same thing, but it was already an established name (Mt.Gox, not the full name), so why bother changing it? It sounds cool, and most people probably had no idea what it stands for.

 

Personally, I only ever put my coins through an exchange when I'm trading them. Put the coins in, trade them (buy/sell/whatever) and get out as fast as possible, because I understand the risks and limitations of exchanges. No site is 100% impenetrable to hackers, and there's no consumer protection. I keep my BTC and LTC wallets on my own computer, encrypted, with backups elsewhere. This is how all users should do it, but alas, many are not knowledgeable enough in Crypto-currency to do so, or to know it's a bad idea to keep everything in their online wallet.

For Sale: Meraki Bundle

 

iPhone Xr 128 GB Product Red - HP Spectre x360 13" (i5 - 8 GB RAM - 256 GB SSD) - HP ZBook 15v G5 15" (i7-8850H - 16 GB RAM - 512 GB SSD - NVIDIA Quadro P600)

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

but that means you lost...?

 

So you sold your BTC when it was $10/BTC? kek

 

People need to abandon Dogecoin/Litecoin + the flavor of the month pump-and-dump coins before cards come back down to what they're "supposed" to be. With all the money to be made in FOTM coins, I don't see that happening soon, unfortunately.

 

No, I made $15,000 off my BTC when I sold. Better than making $0 because I lost all of my coins in the recent MtGox failure. I used that money to buy gold.

CPU: i7-3930K @ 4.8GHz MOBO: IV Gene RAM: 16GB Crucial Ballistix Tactical Tracer 1866MHz GPU: GTX 780 Ti CASE: Corsair 350D STORAGE: 2 x Samsung 840 Pro 256 GB, 2x WD Red 4TB
PSU: EVGA SuperNova 650W DISPLAY: 1 x ASUS VG248QE, 3 x Dell U2414H COOLING: Corsair H100i INPUT: Corsair Vengeance K70, SteelSeries Sensei AUDIO: Sennheiser HD 280 Pro, ATH-M50s, Beredynamic DT770 Pro, Steelseries H Wireless

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Cyber currency's are stupid, there isn't really much more to say on the matter. Its a fad that will die quicker than it started leaving lots of foolish people very poor.

|| Processor: AMD Ryzen 5 2600 || RAM: 32GB (4x8GB) Corsair DDR4 Vengance (3000) || Motherboard: ASUS Prime B450-Plus || Graphics Card: Gigabyte RTX2070 || Storage: 750GB SSD (2 Drives), 3TB HDD (2 Drives) || Case: NZXT H500 || Power Supply: be quiet! Pure Power 11 600W || 

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Cyber currency's are stupid, there isn't really much more to say on the matter. Its a fad that will die quicker than it started leaving lots of foolish people very poor.

Wow great post "Cyber currency is dumb because I say so. The end."

 

Great contribution. Can you please explain why you deem cryptocurrency (The proper term for these, btw) as stupid? The idea of a currency that is based on digital medium isn't stupid, because most governments basically operate that way anyway. US Dollars for example are printed when they need more, there's no gold backing from the reserve anymore. Just because there is a paper version of US Dollar doesn't make it any less insubstantial. The main difference between fiat currency (US Dollars) and cryptocurrency is that fiat currency is regulated and backed by an economy. Regulation means that it's able to be influenced and manipulated by the regulating body.

 

Does that make cryptocurrency the ultimate answer to our problems? Not necessarily, but it does allow a viable alternative to be explored.

For Sale: Meraki Bundle

 

iPhone Xr 128 GB Product Red - HP Spectre x360 13" (i5 - 8 GB RAM - 256 GB SSD) - HP ZBook 15v G5 15" (i7-8850H - 16 GB RAM - 512 GB SSD - NVIDIA Quadro P600)

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Wow great post "Cyber currency is dumb because I say so. The end."

 

Great contribution. Can you please explain why you deem cryptocurrency (The proper term for these, btw) as stupid? The idea of a currency that is based on digital medium isn't stupid, because most governments basically operate that way anyway. US Dollars for example are printed when they need more, there's no gold backing from the reserve anymore. Just because there is a paper version of US Dollar doesn't make it any less insubstantial. The main difference between fiat currency (US Dollars) and cryptocurrency is that fiat currency is regulated and backed by an economy. Regulation means that it's able to be influenced and manipulated by the regulating body.

 

Does that make cryptocurrency the ultimate answer to our problems? Not necessarily, but it does allow a viable alternative to be explored.

Most of the currency's are fads, they quickly explode then their value plummets. Cryptocurrencys are like the real stock market but on steroids, it is way to viable to crash, especially due to the fact that these companies that can store your currency like a bank would are not regulated and things like this happen. I love new technology and love to explore its possibilities, I will quickly buy into new technology so I don't want you to think I am just being old fashioned. The way I see it these bitcoins are like Disney currency you get in Disney World, they do have viable value but are essentially useless.

Also I'd like to point out, in my great post I did say why. Because its a fad. Don't be so angry.

|| Processor: AMD Ryzen 5 2600 || RAM: 32GB (4x8GB) Corsair DDR4 Vengance (3000) || Motherboard: ASUS Prime B450-Plus || Graphics Card: Gigabyte RTX2070 || Storage: 750GB SSD (2 Drives), 3TB HDD (2 Drives) || Case: NZXT H500 || Power Supply: be quiet! Pure Power 11 600W || 

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

So uhhhh...

Does this mean I can start to see affordable AMD cards again?

Ehh GPU is not for mining BTC, it is ASIC that mine SHA-256, GPU is for coins like LTC that is called scrypt but there is special miners coming for scrypt coins to, so maby you will get lucky with the AMD.

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Ehh GPU is not for mining BTC, it is ASIC that mine SHA-256, GPU is for coins like LTC that is called scrypt but there is special miners coming for scrypt coins to, so maby you will get lucky with the AMD.

well there will come new coins or they will just change a bit in the scrypt algoritm and the asics will become obsolete

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Sorry, but what do you base this on? I have no clue what so ever, but neither do you.

 

I base it on this:

Whenever bitcoin goes down it has always bounded up.  very often this bounding up is greater than where it was before.

that is my reason.

more clue than you.

For the Best builds and Price lists here is a world where many points of the price have been predefined already for your convenience!

The Xeon E3 1231 V3 IS BETTER Than the Core i5 4690K and a Significantly better value for the non-overclockers or value shoppers.

The OS is like a kind food, Try it before saying if you like it or don't.

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

Shameful display!

"It seems we living the American dream, but the people highest up got the lowest self esteem. The prettiest people do the ugliest things, for the road to riches and diamond rings."- Kanye West, "All Falls Down"

 

Link to comment
Share on other sites
Link to post
Share on other sites
Posted

BTC is now being traded att 650dollars... so its clearly dead.... or not..

Link to comment
Share on other sites
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing Tech News

×