Stock Market Thread

[WRXtranceformed]

 Anyone who was pissed about the mortgage crisis and pro bitcoin has incongruous beliefs, in my opionion.

Totally different. Even in your 'opionion'. Nobody's deceiving anyone about the nature of bitcoin (or eth, or major altcoin). "Yeah man, it's just some math proofs." The Mortgage Crisis was active deceit of investors with the assistance of shit-ass government policy in the name of "equality". 

Mt. Gox isn't a good example, it was a "bank" that was managed shittily. It's not like somebody hauled off with everyone's bitcoins, it's that they had shady and shitty management practices.

I have no money in BTC or ETH or anything else. If you want to buy some, you should know what you're getting into, know the history and the reasoning, and do it. But if you're just like "HEY THESE TULIPS ARE SELLING LIKE HOTCAKES!" then maybe, you know, don't.

Except they did though:

"On 19 June 2011, a security breach of the Mt. Gox bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. Gox auditor's compromised computer to transfer a large number of bitcoins illegally to himself.  He used the exchange's software to sell them all nominally, creating a massive "ask" order at any price. Within minutes the price corrected to its correct user-traded value."  You realize that's the equivalent of someone hacking the NYSE, buying up thousands of shares of AMZN after changing the share price to $0.01 (and being unable to track where they ended up) and then allowing the stock to rebound to its normal share price.  Regulation is not a bad thing when dealing with currency / investments on this scale.  Like, it's staggering to me to think about how that happened.

That along with yeah, mismanagement.

That was my point though, these "exchanges" that have been set up are run by God knows who and it seems like for the most part have absolutely no oversight or regulation.  So yeah, agreed that if you're gonna get into it right now, until something changes, know what the risks are and keep your coin on a hard drive that's not connected to the internet and in a Faraday cage or something