creekbore
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Lazy, cynical and insolent since 1968


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February 15, 2014, 10:16:55 AM


You can't argue that the poster is correct in that the mainstream media is very 'down' on BTC at present and the perception is that the fundamentals have taken a knock.  It's going to be a rocky few weeks/months IMHO and although BTC is extremely resilient, it will only succeed by its supporters being positive and engaging its critics, not simply taking refuge in a static point of view or being personally aggressive.



True enough. But as the blockchain fork and the silk road debacle showed, when Bitcoin takes a knock and survives in good shape, it just comes back even stronger.

The main issue that Bitcoin appears to have right know is that a broken Gox is clinging on and stinking up the place. It either needs to fix its shit and get everything working or go under (preferably in a graceful way without disappearing with everyone's coins or fiat). I'd prefer the former if it can be done in a reasonable timescale without stringing people along.

If Gox can't get the fiat thing sorted out, it needs to suspend deposits in those currencies that can't be withdrawn and offer to sell Bitcoins to those with accounts holding those currencies at the current rate on other exchanges or their own (whichever is lower. Which will be other exchanges if BTC withdrawals get fixed). Then if BTC withdrawals are still not fixed, it needs to start processing them manually, firstly for those who are looking to get fiat out and then for anyone else who wants their bitcoins out.

They won't of course. Too arrogant. Or possibly they don't have the funds (I don't subscribe to that viewpoint but it's difficult do explain some of the shit they're up to any other way).

Absolutely agree.

Mark needs to employ some savvy strategic and PR people, perhaps retire completely.
In many ways Gox needs to survive but to operate very differently and with more enlightened leadership.