They will have to go after the exchanges, anywhere where btc is traded for fiat. They can't really 'stop' it, but they can push it underground.

I think the latest figures are that mtgox are down to around 50% of total trade volume now. They aren't really living up to their role as the no1 exchange and are losing out, which i think is for the best long term considering how poor they've been with general uptime/lag etc.

Alberto/speed thanks for those answers

Traders will stabilize the price. The currency is in its infancy so it's going to keep growing for a long time.

I used to think that, but based on the frantic inquiries to buy I am getting from all my friends and 2p2ers, no one cares if the currency is stable. They only care if it is going up. That makes them put wealth in it. They love that it is highly deflationary. They also know it has crashed from 30>2 before and they don't care. If it goes down, too bad, they were already investors. Disruptive tech is always unstable and rapid growth. If cryptocurrency is going to replace fiat money, it will take decades of radical growth to do that.

Btw, bitcoin merchants don't care if the price fluctuates. Most of them use payment processor BitPay, who instantly converts the bitcoin payment into USD. The merchants price their items in USD. BitPay says the are adding 1,000 merchants per month.

this is changing a bit. according to the gox website they facilitated 80% of bitcoin trade in July 2011 but that number dropped to 50% for March 2013

I have been an active member of alternative cyptocurrencies board and came out with a couple mythical coins deflationcoin, minersareidiots, tradecoin, and fastcoin. Realsolid was able to compress the chain and open transactions came out with a ledger. opentransactions is consensus based. I have nothing to do with realcoin or ripplecoin, but they did read my ideas. However, that is where things were headed anyways.

However, a web-based coin will never work, because how do you not know if the web owner messed with the client. ripple starting with a web based wallet is not a good sign. I see they have not sold any coins yet. So maybe they are legit and even now requested free coins.

without mtgox how will there be price stablilization among all sites?

how can it do anything but crash?

sorry if these seem like questions that were already answered

A new site will take its place. There can also be a program that charts the prices across multiple smaller sites.

arbitrageurs. although anything that causes mtgox to shutdown will likely crash the value of bitcoin (at least temporarily) anyway

There's a free site called predictionbook.com that will track these predictions. You enter the prediction, the time it will be known, and your confidence. When the time passes, it emails you reminding you to mark your prediction true or false. It also tracks your record per confidence level, so you can see if your 75% confidence level guesses really are coming true at about a 75% rate.

July 1, 13: prediction 1 btc = $500 usd
Jan 1, 14: prediction 1 btc = $2000 usd

^^ likely scam

Interested in buying with Stars transfer. PM me if interested.

why aren't more people using bitstamp.net instead of mtgox, which takes too long to verify. If I understand correctly bitstamp doesn't even need to verify your acc, and all I hear are positive reviews. I'm new to this so if anyone has any bad stories about this particular exchange please post here.

Gox was the standard for a long time. Now they are hemmoraging business as people look for other ways to handle their transactions. I haven't used bitstamp, but I've had multiple positive experiences on localbitcoins.com.

just opened my account there today. i have only heard positive things too.

about verification

yeah I just bought some BTC via localbitcoins, but given that I'm from a small country (the same as bitstamp tho -lol?), If I ever want to sell in person it would probably take a while (not many people have heard of them here), and given I have no reputation to sell them online it would take even more time. So I'm looking for an easy to use mtgox like exchange. Would love to be able to withdraw to skrill, but so far I've only heard about bitcoin-24 that does that, and I've heard it's not the most reliable service...

its quite easy to trade bitcoins for skrill or site money on 2p2

what's the easiest way (apparently not mt. gox due to verification) to unload BTC? I'm a US guy so can't take money on Stars/FTP...

This is good advice. In general, you will get a better deal on mtgox because it has the deepest USD market. But on bitstamp right now, you could buy $150,000 worth and only move the price up $3. Just check the order book to make sure there is enough liquidity to execute your buy order. [edit: bitstamp's USD account is in europe, not the US, so you still have to make an international wire transfer]

So the general advice should be: bitstamp for USD, bitcoin-24 for EUR, Coinbase for US accounts buying under 1k per day, and for amounts over 100k use localbitcoins, TC, the currency exchange forum, or mtgox
I'll just start quoting that if people ask.
Bitcoin FAQ
Bitcoin Myths

Is nobody afraid of chargebacks?

thanks !

You can also sell online using localbitcoins as well. I sold some the other day and got a GDMP in exchange. (I don't know if you guys have those) People will also do bank transfers or wires as well.

the advice should be to use bitfloor if you need to get USD on and buy BTC quickly. they dont have the liquidity like the others, but you can give cash to any BoA branch and have your bitfloor account credited within 15 minutes

ok, sorry to spam this thread, one last post for today!

can u link me, I searched for bitcoin in marketplace and didn't find anything recent?
EDIT:nevermind I think I found it in Internet Poker person to person transfers

Sorry, don't know what GDMP means. I prefer not to do bank transfers, as I don't want my bank to know where the money comes from, so I prefer to use skrill and then cashout to my bank

Also, what do you think about blockchain? Safe to hold money there? I tried watching that youtube video with instaling some other OS on a boot usb and stuff...I don't know, if this stuff about how to secure your wallet will always be so complicated I don't know how this currency will pick up. Plus that when I use Multibit my wallet seems to be stored in name.wallet and all the guides are referring the wallet as wallet.dat file. I'm just too confused fffuuuu