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Major Bitcoin Exchange Ceases Operation

Posted by Unknown on from the but-mom-money-does-grow-on-gpus dept.

First time accepted submitter Sabbetus writes "On Monday the CEO of prominent Bitcoin exchange Tradehill announced that they are shutting down. Ars Technica ran a story on this stating that 'After Monday's news, the currency's value fell from $5.50 to $4.40, a decline of 20 percent.' Tradehill is returning all funds and meanwhile their competitors are fighting over who gets Tradehill's customers."

7 of 208 comments (clear)

  1. Re:Bizarre and Confusing Summary by alphatel · · Score: 3, Funny

    A trading firm that never actually trades, with non-existent competitors, trading a currency that doesn't exist, has gone out of business due to massive losses!

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    When the foot seeks the place of the head, the line is crossed. Know your place. Keep your place. Be a shoe.
  2. Bitcoin's still around? by SleazyRidr · · Score: 4, Funny

    I thought that Bitcoin must have ceased operating when there stopped being a slashdot story about them every day.

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    Is 1563649 a prime number?
    1. Re:Bitcoin's still around? by maxwell+demon · · Score: 4, Funny

      You think that Taco left because of a lack of bitcoin articles?

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      The Tao of math: The numbers you can count are not the real numbers.
  3. Re:Oh! The huge manatee! by houstonbofh · · Score: 4, Funny

    On Monday the CEO of prominent Bitcoin exchange Tradehill announced that they are shutting down.

    And not a single fuck was given that day.

    If everyone actually stopped fucking for a day, that would be huge news. (To everyone other than you)

  4. Re:Bizarre and Confusing Summary by Anonymous Coward · · Score: 2, Funny

    AHA! Proof that you actually read the article AND Jered's original post to the bitcointalk forum announcing the change. Tradehill is closing so that a new platform can be built from the developer team.

    You actually read the article and its source material. You are an embarrassment to the Slashdot community. :-)

  5. Re:Bizarre and Confusing Summary by tompaulco · · Score: 3, Funny

    And by "print money" you mean "waste electricity while participating in a pyramid scheme that was destined to fail." Right?
    Nope. Because Bitcoin is not a scheme whereby people use newcomers money to pay people who have been in the scheme longer. In fact, Bitcoin does not ask people for money at all.

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    If you are not allowed to question your government then the government has answered your question.
  6. Re:20% Drop... where's CNBC's coverage? by MysteriousPreacher · · Score: 1, Funny

    Zimbabwe should switch to Bitcoin. A 20% overnight drop in their national currency would be a cause for astonished celebration.

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    -- Using the preview button since 2005