Posted on 03/22/2014 12:31:38 PM PDT by Errant
Cutting right to the chase: we don't think going short is a good idea yet.
Just when you would think the situation with Mt. Gox couldn't get any stranger, it has. Apparently, the exchange "found" almost BTC 200,000 in one of its old wallets this month. The coins would be currently worth approximately $115 million. A statement published yesterday on the exchanges website reads:
MtGox Co., Ltd. had certain old-format wallets which were used in the past and which, MtGox thought, no longer held any bitcoins. Following the application for commencement of a civil rehabilitation proceeding, these wallets were rescanned and their balance researched. On March 7, 2014, MtGox Co., Ltd. confirmed that an old-format wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC (199,999.99 BTC). MtGox Co., Ltd. investigated the presence of these 200,000 BTC, immediately reported it to its counsels in the application for commencement of a civil rehabilitation proceedings ("counsels"). A hearing took place on March 8 where a detailed explanation of the situation was made to counsels. Immediately on Monday (March 10), counsels reported the existence of the 200,000 BTC to the Court and the Supervisor.
(Excerpt) Read more at marketoracle.co.uk ...
Okay, Thanks.
I know Satan is in it somewhere.
Money is the root of all evil.
Easy money is at the root of all scams.
I will find his trail.
There is nothing easy about Bitcoin friend. If you’d ever mined any, you’d know that. Like I said, try engaging your brain and learn a little about what you’re talking about before putting your mouth in gear.
You can start by looking back over my posts and see I wasn't talking about your comments being stupid. I only suggested that you should have "bought a clue" instead of a Bitcoin - maybe two clues now! lol
Let’s review
We have a person who responds to other posts and because the word “ stupid “ is in it, thinks it applies to him.
And a religious schizophrenic.
That about sum it up?
“I might be wrong, but it would take something awfully drastic to get it to move below $500.”
Lo today for BTC was $541.00; Closed at $565.00; Opened at $570.00.
If it goes below $500 ... it’s “buy time” ...
I’ve been buying as much as I can during this dip. All it will take now is a catalyst event like Amazon or ebay to jump on board and set off a chain reaction of mass adoption. Be patient, it is coming no doubt in my mind.
“Money is the root of all evil.”
if that is the case, surely the dollar and the vastly successful United States economic system is evil beyond compare. Is that what you believe? Do you use dollars?
No, ‘the love of money is the root of all evil’...not the money itself. Do you own the money, or does the money motivate you?
OK, so responding to my own comment:
“is evil” should be “are evil”
...and...
The old “money is the root of all evil” line seems demonstrably flawed to me. Is it not flawed human nature that is the true “root of all evil”? I think the “money is the root of al evil” saw is the exact equivalent of “guns kill people, people don’t kill people”. It places the blame in the wrong place.
“No, ‘the love of money is the root of all evil’...not the money itself. Do you own the money, or does the money motivate you?”
I don’t agree with that either, although love of money sure leads to some evil (and quite a bit of good as well).
Did “love of money” lead Hitler to murder 6 million Jews? Likewise, the various Communist mass executions were not motivated by “love of money”. If you want to find the “root of all evil”, you need to look elsewhere. (For another more minor example, consider a faithful husband or wife murdered because someone else coveted the partner. No money involved...but flawed human nature certainly was. It has happened many times.)
Oh, I see you have that one handled.
Thanks.
I meant you. Thanks.
http://www.youtube.com/watch?v=46PEE6AaNlE&feature=player_embedded
1 Timothy 6:10
“10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
Note that I did not say that, it was a quote from the Bible that states ‘the love of money is a root of all kinds of evil.” and the KJV says ‘is the root’.
Greed does cause people to do many evil things for personal gain, which usually ends up a curse and not a blessing.
My apologies as I did clarify where the quote came from.
Of course Hitler had a love of money, as we see in all the great Masterpieces he stole from those who owned them, mostly Jews, those he killed. So many of those million dollar works of art are just now being found and returned.
Power and Greed go arm in arm.....what do you think it is that causes dictators to kill millions....Greed, more money for them to spend, and less mouths for the government to feed. Dictators get rich off of the people, just look around at the money being spent by those who are tyrants.
“For the love of money is a root of all kinds of evil.”
Note that it says “a root” not “the root” as was originally posted. I’m fully in agreement with this version. :-)
As to Hitler, he did take what the Jews had, but the primary motivation wasn’t money. It was a fanatical hatred of Jews.
Here’s one for your other news list
Sound familiar? Bitcoin exchange Vircurex freezes customer accounts as it battles insolvency
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