Has the market lost confidence in Mt. Gox?
Mt. Gox clarified its position on US dollar withdrawals Friday, after worrying customer feedback over its USD withdrawal freeze. But it faced yet more problems early this week as it reported system downtime to frustrated traders. As it struggles to reassure bitcoin users, what will the long-term implications be for the exchange, and for the bitcoin market overall? In a post to its Google+ account, Mt. Gox acknowledged "mixed reactions" from customers after it announced on Thursday that it would temporarily freeze withdrawals in US dollars. "Our bank can no longer handle the volume of....
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In last week’s post we concluded with the following statement: We are currently Long-Term Bullish, Intermediate-Term Bearish, and Short-Term (very tentatively) Bullish. We will continue to treat the US$500 as support until visibly shown otherwise. The highest probability target is the bottom of the triangle at US$560 though some confidence has been lost in this move since last week. If it gets us there, the situation will be re-evaluated, but the most likely outcome is some more downside back to the US$530-500 zone. Some confidence in the move lost because the longer we hang around US$500....
The year 2022 hasn’t been positive for the crypto market. Many crypto companies, investors, and miners lost a lot of funds leading to a loss of confidence in the market. At a point, miners’ rigs couldn’t sustain their collateral value, causing panic amongst them. But then there have been some price hikes which, of course, […]
John Crudele has written a piece on the NY Post calling Bitcoin a "Confidence Game" while being insulting towards Bitcoin enthusiasts. His apparent lack of knowledge in the Bitcoin market has BitcoinTalk members calling him out on that. For those of you who do not know what a confidence game is, Dictionary.com defines a "Confidence Game" as "any swindle in which the swindler, after gaining the confidence of the victim, robs the victim by cheating at a gambling game, appropriating funds entrusted for investment, or the like." John Crudele of the NY Post Calls Bitcoin a "Confidence Game". In....
A new study has found that those aged between 18 and 34-years-old remain optimistic about the British economy despite fears circulating Brexit. In the months following the EU referendum vote, the study found that the overall measure of consumer confidence remained buoyant. In the Deloitte Consumer Tracker Q4 2016 [PDF], it found that confidence remained resilient and was particularly strong among the 18-34-year-olds. This is the highest it has been since the Tracker began six years ago. It is believed that this recovery is down to a growing confidence about disposable income and debt as....
Precious metals and coin dealer Amagi Metals announced today it would stop accepting US dollars as a payment method at the end of 2016, saying it had "lost confidence" in the future value of the world's most popular fiat currency. While several prominent retailers and dealers have joined the bitcoin ecosystem in 2014, and some businesses have always been exclusively bitcoin, Amagi is one of the first to halt fiat acceptance. The company said in a statement: "Since the dollar was decoupled from gold in 1971, it has lost 97% of its value compared to the yellow metal and 83% of its domestic....