All posts made by virtualfaqs in Bitcointalk.org's Wall Observer thread
1.
Post 2670026 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.09h):
I've been buying and selling the whole way down. My feeling is we will see the 50's but that may very will be the bottom of this thing. If we break though the amount of resistance in the 50's and hit the 40's, abandon all hope...Bitcoin is dead.
Why would you think 40 is dead when it's still outperformed 99% of other investments.
2.
Post 3899252 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.35h):
Stamp and China breaking out of their sideways channels.
Stupid question probably. But where do I get this chart?
3.
Post 3915833 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.35h):
Is there a website that shows last trades of 50 BTC or more? Trying to figure out what walls are destroyed and which are removed.
4.
Post 3928294 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.36h):
Hi all,
Not having a crystal ball, I asked myself "Do you truly believe in the fundamentals behind Bitcoin?" and I could honestly answer "yes".
So I went back and collected all my Bitcoin research and pitched it to my husband. I think it was my enthusiasm (which was probably bordering on reverence by this point) that did it - he agreed to redraw on our home loan. I told him that time was of the essence and if we didn't buy now, it would be too late. This was the night of Wednesday 4th December. The very next day I went and bought 7.7 BTC for $9000. The very NEXT day.... well you all know what happened. I won't deny, the next few days have definitely tested my belief in Bitcoin. But I stuck to my guns and held. I still maintain that one day in the near-ish future, I will tell my sister's grandkids that I once owned 7.7 BTC, and that they be all wide-eyed and gob-smacked "No freakin way!!!!".
Was your dad showing you his cellphone when the price was crashing? Although BTC investments has historically done well I can't for sure say what's going to happen in 10 years. Also I know the bulls will hate me when I say this, but keeping track of crashes and try to figure out why. They are just as important as when the price skyrockets. Maybe you won't sell, but it's important to to understand. Also every single person posting here is pushing their own agenda.
5.
Post 3942580 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Volume at gox is consistently anemic now.
It is. The calm before the storm. I have butterflies in my stomach. I can't stop staring at the price.
6.
Post 3955236 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
To spice up a little: Is anyone willing to accept a $10,000-$100,000 escrowed bet that Bitstamp will hit $500 before hitting $1,000?
What odds? I am thinking that $1,000 is much more probable but I am willing to take the other side if odds good enough.
Really no one is jumping on this?
Why bet on market movement against someone who can move the market?
Because it's a win-win situation? (for him)
Depends on the odds. But most likely rpietela can calculate them to his advantage. Too much math for me.
7.
Post 3955525 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Everybody understands that *if* this maintains itself (or go better) next week will be rising like hell... right?
No. Math says that it takes 10x more everything to make the price rise from 10x higher level.
We do not have 10 times more anything, compared to last summer. 5 times we have, so the price is overvalued by a factor of 2, and will go down -50%.
I have thousands of lines of research on the subject but nobody reads it anyway so why even post...
But this is btc:-D
Btc dont care
You should be the right person to bet for BTC against me...
How about:
- Will Bitstamp surpass its ATH of $1163/BTC in 2 months?- If this price is breached, Goat wins.
- If not (until February 13th 24:00 UTC), rpietila wins.
Bet amount is $50,000, (odds 1:1) paid in bitcoins at the rate of the settlement date.
24:00 UTC is a confusing time. Say 23:59 UTC.
8.
Post 3955597 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Everybody understands that *if* this maintains itself (or go better) next week will be rising like hell... right?
No. Math says that it takes 10x more everything to make the price rise from 10x higher level.
We do not have 10 times more anything, compared to last summer. 5 times we have, so the price is overvalued by a factor of 2, and will go down -50%.
I have thousands of lines of research on the subject but nobody reads it anyway so why even post...
But this is btc:-D
Btc dont care
You should be the right person to bet for BTC against me...
How about:
- Will Bitstamp surpass its ATH of $1163/BTC in 2 months?- If this price is breached, Goat wins.
- If not (until February 13th 24:00 UTC), rpietila wins.
Bet amount is $50,000, (odds 1:1) paid in bitcoins at the rate of the settlement date.
24:00 UTC is a confusing time. Say 23:59 UTC.
Also couldn't Goat just buy up to $1163/BTC and then just sell again. Would only lose transaction fees to win $50K. But I suppose you could set up sell orders to stop him from winning the bet.
9.
Post 3955819 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Everybody understands that *if* this maintains itself (or go better) next week will be rising like hell... right?
No. Math says that it takes 10x more everything to make the price rise from 10x higher level.
We do not have 10 times more anything, compared to last summer. 5 times we have, so the price is overvalued by a factor of 2, and will go down -50%.
I have thousands of lines of research on the subject but nobody reads it anyway so why even post...
But this is btc:-D
Btc dont care
You should be the right person to bet for BTC against me...
How about:
- Will Bitstamp surpass its ATH of $1163/BTC in 2 months?- If this price is breached, Goat wins.
- If not (until February 13th 24:00 UTC), rpietila wins.
Bet amount is $50,000, (odds 1:1) paid in bitcoins at the rate of the settlement date.
Why am I not surprised not one 'bull' has taken up this more than fair bet... Bulls? More like 'CCMF' shouting cheerleaders.
I would take it if $50,000 was the same % of my net worth as it is for rpietila. Someone might accept it, it's a pretty good bet.
tempting... problem is that i'd need to win to afford to lose
That's what shady bookies are for. Don't you watch the movies?
10.
Post 3955902 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
I have a special kind of mind, it is quite simple, but it can calculate monetary probabilities very well. Somebody else may choke on his numbers, or shortcircuit and SHOUT that it is impossible to predict anything with certainty. Sure it is. Still some people win in poker and others don't.
All I can say is online poker is illegal in my US state. Bitcoin Daytrading is not.
11.
Post 3956017 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Everybody understands that *if* this maintains itself (or go better) next week will be rising like hell... right?
No. Math says that it takes 10x more everything to make the price rise from 10x higher level.
We do not have 10 times more anything, compared to last summer. 5 times we have, so the price is overvalued by a factor of 2, and will go down -50%.
I have thousands of lines of research on the subject but nobody reads it anyway so why even post...
But this is btc:-D
Btc dont care
You should be the right person to bet for BTC against me...
How about:
- Will Bitstamp surpass its ATH of $1163/BTC in 2 months?- If this price is breached, Goat wins.
- If not (until February 13th 24:00 UTC), rpietila wins.
Bet amount is $50,000, (odds 1:1) paid in bitcoins at the rate of the settlement date.
you make a claim that btc will go down 50%. Then try to make a bet that has nothing to do with btc going down 50%?
What am I missing?
+1
He kinda mentioned it, if he loses he has enough btc that it makes the 50,000 an eatable loss and not a net loss at all.. if he wins he gets 50k on top of the mound of Fiat he has. My guess atleast.
Sure is great to win no matter what the situation.
12.
Post 3956980 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
china will go thru 5500 soon, they already punctured it and now they are oversold
Having seen my magic, perhaps you can now publicly acknowledge that I have 10,000 bitcoins, apologize, stfu and gtfo. OK?
If you want to prove that just sign a message with an address holding 10k and put that signed message in your signature - no need for nobody to "acknowledge", that would be a hard cold proof.
That's pure non spoofable crypto, heart and soul of Bitcoin.
That's not hard cold proof. It's susceptible to Man in the Middle attack.
13.
Post 3957201 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
china will go thru 5500 soon, they already punctured it and now they are oversold
Having seen my magic, perhaps you can now publicly acknowledge that I have 10,000 bitcoins, apologize, stfu and gtfo. OK?
If you want to prove that just sign a message with an address holding 10k and put that signed message in your signature - no need for nobody to "acknowledge", that would be a hard cold proof.
That's pure non spoofable crypto, heart and soul of Bitcoin.
That's not hard cold proof. It's susceptible to Man in the Middle attack.
Care to elaborate that? How could rpietila perform "a man in the middle attack" and make bitcointalk.org users to believe he signed a message with an address holding 10k BTC if he is not in control of an address with such an amount?
Because there is nothing linking the Bitcoin address to his forum account. Hypothetically speaking, he could just ask a friend who has access to 10K BTC to sign a message and just post it. The difference is there is the possibility he can get 10K BTC account to sign a message, but he may not necessary control it.
14.
Post 3958228 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
china will go thru 5500 soon, they already punctured it and now they are oversold
Having seen my magic, perhaps you can now publicly acknowledge that I have 10,000 bitcoins, apologize, stfu and gtfo. OK?
If you want to prove that just sign a message with an address holding 10k and put that signed message in your signature - no need for nobody to "acknowledge", that would be a hard cold proof.
That's pure non spoofable crypto, heart and soul of Bitcoin.
That's not hard cold proof. It's susceptible to Man in the Middle attack.
Care to elaborate that? How could rpietila perform "a man in the middle attack" and make bitcointalk.org users to believe he signed a message with an address holding 10k BTC if he is not in control of an address with such an amount?
Because there is nothing linking the Bitcoin address to his forum account. Hypothetically speaking, he could just ask a friend who has access to 10K BTC to sign a message and just post it. The difference is there is the possibility he can get 10K BTC account to sign a message, but he may not necessary control it.
But that's no man in the middle attack, in that case Risto would just be "borrowing" the coins for a specific purpose - signing the message, which is a proof he can have access (at least for that very purpose of signing the message) to 10k coins.
In any case, only a retard would accept to use 10k of his own coins to sign a message like "this coins belong to Risto Pietila", in practical terms Risto's "friend" would be handing to Risto the control of those bitcoins. That's like signing a contract, explain to a judge that "it was just a favor".
No.
The owner of those coins could sign the message
for him. Risto would never need to control them. Virtualfaqs is right.
Finally:
If I have to prove on a forum that I own a $10M mansion, how about uploading a valid and verifiable contract of ownership of such mansion in my name? Wouldn't you consider that a proof of ownership?
Justin Bieber could be my friend and he could have signed the contract as a favour, without ever handing to me the keys. But that's beyond retarded and plainly ridiculous. As retarded, ridiculous and unlikely as expecting someone to cryptographically sign a message such as
"This 10k BTC belong to Risto Pietila" with an address holding 10k BTC that do NOT belong to Risto.
Probably you do not fully understand the strong implications of such a message - any cryptographically signed message is potentially binding, and that's why the QT client warns you about signing only messages to which content you fully agree. If Risto has such "friends" that sign those messages for him I congratulate and envy him.
Uh, no, that's
not the meatspace equivalent. There's no practical significance to signing someone else's message with your address. The person with the private key maintains full and absolute control. Said owner could simply transfer those coins after a suitable amount of time passed to satisfy everyone.
The meatspace equivalent is telling Risto's buddies that he owns your house.
We will have to agree to disagree: i) For you cryptographically signed messages have no significance, ii) for me they have a very strong significance.
You do not "own" the coins; the private keys "own" the coins. Using the private key of an addy holding 10k BTC of your coins to sign a message stating than the owner is an individual other than you has a very strong significance for me and I wouldn't do it. As a start, I would be worried about that individual claiming in the future that that priv keys were stolen from him. Sure no judge would understand nothing about this (yet), so you might be right about the lack of "practical" significances as there are no legal precedents on that sense - but I bet there will be a lot of practical significances in the futures. I believe we will see a lot of smart properties/contracts implemented on the blockchain and a lot of legally binding agreements based on message-signing with addresses privkeys.
In any case:
I don't think rpietila has 10k BTC nor the access to someone with 10k BTC willing to sign on his behalf the following message: "these 10k BTC belong to Risto Pietila"Yes, it will be interesting to see how a court case deals with verified sigs. But they'd also have to link verified sigs to a person's identity. That may not be so easy either as multiple people could have access, hacks, and other reasons.
I'd change it this:
"these 10k BTC belong to Risto Pietila aka bitcointalk.org username: rpietila" This is so people like me know there's a probable link to his forum account.
15.
Post 3958653 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Lol. This is the stupidest fucking thread derail in the history of bitcointalk.
The price hasn't been going anywhere the last 24 hours other than bouncing between 880-1000. We need something to fill the time.
16.
Post 3959011 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.37h):
Hilariously, what we think of as digital signatures (cryptographic) are pretty much just an afterthought to most of those laws. Typically, those laws are about fax machines, and web buttons labelled "I agree" and other such nonsense.
Bullshit. If you made a website with the following elements:
"I own all your shit now" and a button stating "I agree"
A visitor clicking said button would not transfer ownership.
Similarly a "these are Risto's coins" message is not a contract and isn't binding.
The "I agree" thing is called in the legal community Clickwrap. And it depends on what you're agreeing to as to whether a court will enforce it. Courts normally don't like it.
A digital signature is just as valid for most things, such as entering into a contract, as a signature signed on paper with a pen. Remember, most contracts aren't even required to be in writing, much less have a signature.
But no. You can't "trick" someone into signing away rights. That would be fraud.
I believe one day we will see a court case where someone wrote from their BTC address on a digital sig "They would send BTC after receiving 10 LTC." but not sending the BTC afterwards. And all the evidence will be in the blockchain. It will be interesting how that case will go.
17.
Post 3971285 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.38h):
Was that huge sell off before the Winklevoss AMA or after? haha
18.
Post 4014961 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.40h):
Looks to me new lows are coming tonight.
Discuss.
i hope your right.
if not tonight maybe tomorrow or in a few days,
you gata love the bear market! it doesn't last forever.
Haha you seem to like it even more than me. Are you all in fiat? I'm still heavily in coins just that I let about 20% go at 900. Thought it was fairly obvious technically that this was coming. I know it's easy to say it in retrospect but if you've spent a lot of time looking at charts you kind of get a feel for these things. I have to say though swing trading bitcoins like this is way harder for me compared to stocks or futures. Much harder selling some coins when you have a good sense of what they are really worth.
i'm never all fiat, i'm very bullish. always have been. but i'm also kinda poor so.... the market recently
ran me over ( started selling at 400, little by little, got an avg price of about 600-750 a coin i guess. ) and i took some profits off the table, now i'm looking to invest 10K, bought in 1K so far, looking forward to cheap coins!
So if you weren't poor, what % BTC would you be? Still 90% fiat?
19.
Post 4017781 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
Lots of resistance preventing a new 24-Hour Low.
20.
Post 4021782 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
Wow... 2300 BTC support @ 550 destroyed just like that!
21.
Post 4021911 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
Mtgox Resistance up to 550 already!!! These guys want to sell bad (or manipulation)
22.
Post 4022005 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
Where's Rico? (Oops is it Risto?) It would be hilarious if he popped in just now.
23.
Post 4022065 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
It is all just luck, remember. Nobody can predict the future.
Right on cue!!!!!
*clap* *clap*
24.
Post 4023476 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
If you buy 100k USD in BTC, and by next April 15 these are worth 1 million USD, will you have to pay ~300k USD to the IRS?
Does it matter whether the IRS considers Bitcoin a "stock" or a "foreign currency"?
This is not legal advice so I'm not held liable if you screw anything up on your taxes.
Most people consider BTC capital assets. You only pay taxes if you sell. So if you sell at 1 million USD and buy back at 1 million USD. Then price drops to $500USD/BTC now. You'll be in big trouble because you'll still have to pay taxes on 1 million USD unless you sell again.
25.
Post 4023620 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.41h):
If you buy 100k USD in BTC, and by next April 15 these are worth 1 million USD, will you have to pay ~300k USD to the IRS?
Does it matter whether the IRS considers Bitcoin a "stock" or a "foreign currency"?
This is not legal advice so I'm not held liable if you screw anything up on your taxes.
Most people consider BTC capital assets. You only pay taxes if you sell. So if you sell at 1 million USD and buy back at 1 million USD. Then price drops to $500USD/BTC now. You'll be in big trouble because you'll still have to pay taxes on 1 million USD unless you sell again.
Thanks, but that seems a question people should worry about: "will the IRS (or your nation's equivalent) consider BTC capital or cash?"
Again not legal advice, but IRS has pretty much said "No official classification yet but you still have to pay taxes on it."
26.
Post 4030037 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
So I have a doubt... The FinCen claims Casascius selling the coins makes him an unregistered “money transmitter”.
If Casascius were to sell the coins with just the set of keys, but no BTC in them, would he be completely ok ?
I'm sure the Trezor guys won't be labeled a "money transmitter" right? It's like selling an ipod or whatnot..
This is correct but Casascius has stated that he will never sell empty hologramed coins. The fact is that there are too many unknowing customers out there on ebay, etc. Not everyone realizes you have to check the balance. I have sold many coins and asked them if they wanted to check the balance and have been given a "nope looks great" reply.
Too risky for unloaded coins to be sold for full price.
Although that's a little naive on the buyer's part, Buyers can always chargeback if you're screwing them if paying by credit card on PayPal. If not credit card, then a dispute will also likely go in their favor.
27.
Post 4030622 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
I'm exhausted from last night trying to catch the bottom. So please BTC no more action so I can get a good night's sleep.
28.
Post 4030839 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
Good morning folks. Last couple of days I spent some time milling, sanding, routing, etc some redwood for a project and got sequoiosis-- fever, chills, massive headache, etc from inhaling moldy spores. YUCK MAJOR PAIN
On other news, last night I was full fiat and bought in at $490-- I'm learning.
I had fun posting ugly bear pictures, and hadn't realized how powerful these cliffs are for doubling my count.
Hope you guys did OK too.
(I am reading that some of you got plowed through-- might I suggest it's time to learn more about the adoption curve and volatility, imo)
Remember, big money (w@ll st) is coming in 3-6 months.
Congrats ... for now!
29.
Post 4030904 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
Good morning folks. Last couple of days I spent some time milling, sanding, routing, etc some redwood for a project and got sequoiosis-- fever, chills, massive headache, etc from inhaling moldy spores. YUCK MAJOR PAIN
On other news, last night I was full fiat and bought in at $490-- I'm learning.
I had fun posting ugly bear pictures, and hadn't realized how powerful these cliffs are for doubling my count.
Hope you guys did OK too.
(I am reading that some of you got plowed through-- might I suggest it's time to learn more about the adoption curve and volatility, imo)
Remember, big money (w@ll st) is coming in 3-6 months.
Congrats ... for now!
hehe. How's that gamblers saying go? "Quit while you're up"?
Quite while you're up - Google 238,000 results
Quit while you're ahead - Google 139,000 results
For those who like to gamble, house edge is around 5% in most table games. Here the transaction fee is less than 1%. And it gets even better the more you play. You're not going to get better odds anywhere else.
30.
Post 4031106 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
Next bottom will be in the $250-$300 range. Then rebound up to $500-ish. Finally, crash down to $100-$150 before end of year.
I strongly disagree.
Discuss.
Do you not see us retesting the low?
support was tested 1 hour ago?
looks ok
Oh yeah? Well wait until you go to sleep as I recall the price dropped in the first few hours.
31.
Post 4033153 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
Were in for another sell off
With which coins?
www.blockchained.comFor the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
Honestly, I'm at a loss for how ask depth is a useful indicator here. We have
no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.
^This. I still can't believe there's such a huge gap between Gox & BTC China. May not be so easy to arbitrage. But was there always a 100 difference between prices?
32.
Post 4034021 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.42h):
Well I just consulted my trading team and asked them if I should by more bitcoins or wait for a lower price? They have analyzed the information available and said "Buy more bitcoins daddy". When all else fails you listen to the 5 and two year olds. They know what's up!
But did you ask your kids the same thing when BTC was $1200? haha
33.
Post 4050552 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.43h):
BTC where are you going? I just put in my sell order!!! It's just a few BTC come on now!
34.
Post 4062592 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Never go ALL IN/OUT in a single trade. If you are tempting take 2-5% of your stash and make bet. :-) ... you will see. Only gambler goes ALL IN/OUT and sooner or later will lose all in a single bet.
It is always gambling, no matter if full Fiat, full BTC or you split.
Trading is a little more complicated than only gambling. (You can win if you are good enough)
I think if it more like poker rather then a generic casino table game.
35.
Post 4062848 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should
Did your friends lose money?
He lost about 3-4K $... oh well
There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her.
36.
Post 4065008 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Hloy siht. Is taht wall real? (on stamp)
damn 4.5k wall
Wow. Biggest wall I've seen in a long time that's anywhere near the asking price.
37.
Post 4065106 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
What site you guys using to see the walls? bitcoincharts.com doesn't refresh that quickly.
38.
Post 4065139 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
39.
Post 4065183 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Gox doesnt care
Dammit. Come on Gox, don't let me down!!!! Give us a piece of the action.
40.
Post 4065235 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Gox doesnt care
Gox orderbook looks like someone dropped an A-Bomb into the middle of it.
Whoa, didn't notice, only 3915 coins to 530?
Would be hilarious if he did market order while moving it around.
41.
Post 4065293 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Thanks! is there a mtgox for this?
42.
Post 4065374 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Thanks! is there a mtgox for this?
click it
I see now. Thanks!
Good stuff.
43.
Post 4065452 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should
Did your friends lose money?
He lost about 3-4K $... oh well
There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her.
I'm still here
. Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money
. How's that for a comforting delusion?
That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year.
Mad props for even finding my post. Money is on loan against the house right? Need to calculate loan interest and compare it to BTC EV - Tough call. Good luck to you!!!
44.
Post 4065494 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Come on! Someone arbitrage Gox for us!
45.
Post 4065543 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
WoWowoWo
Just got back home to find a 4k wall
What's going on?
Haven't read the last 6 or 7 pages yet..
A wall is trolling bitstamp.
Good job wall guy, this is hilarious.
edit: You can clearly see he isn't interested in selling it, just making the speculators trip face.
Yeah, I'm confused, too. What does *s/he* think is the most beneficial outcome?
Testing for some manipulation later maybe. Would be more hilarious if bought coins at $580-$590 and added to the wall.
46.
Post 4069570 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
Finally some action!
47.
Post 4070876 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should
Did your friends lose money?
He lost about 3-4K $... oh well
There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her.
I'm still here
. Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money
. How's that for a comforting delusion?
That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year.
That's a great way of putting it. I'm definitely going to use that when one of my anti-Bitcoin friends throws the dropped price in my face -- "An unrealized loss is not a loss."
No, it's not rent money
. I tried to abide by the old adage; "Only invest what you can afford to lose." I see that one has been thrown around this forum a lot actually. Easier said than done though I suppose!
That is good mentality. I predict we should be able to hit $1000 again sometime in 2014. With overstock.com news looming and possible other retailers following afterwards. However price will probably continue going down until after Jan 31.
48.
Post 4070894 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.44h):
I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should
Did your friends lose money?
He lost about 3-4K $... oh well
There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her.
I'm still here
. Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money
. How's that for a comforting delusion?
That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year.
Mad props for even finding my post. Money is on loan against the house right? Need to calculate loan interest and compare it to BTC EV - Tough call. Good luck to you!!!
Thanks! I did do some calculations before buying the coins - the repayments on the house are so much anyway that a withdrawal of $12k hardly makes a difference (isn't that depressing).
Never really taken a risk like this before, but what the hell right? Besides, after reading about Bitcoin (my research at work took a backseat - oops) it's become a bit of an obsession... I only picked up on your post because I read this damn thread every day and have the bitcoinwisdom tab open all day to monitor the price. It's almost (almost!) worth paying $12k just to be a part of this ride..... well maybe not
that much
.
Debt is against my religion - going into debt to make a speculative investment feels so crazy to me that it blows my mind. I guess you US folks are so much in debt that you give zero fucks about going into debt a bit more.
That said, is clear that the average investment for participants in the market is growing. When I bought into BTC, throwing at it $5k was definitely a bold move, and above the average.
As an example, even rpietila, who had experience with gold and silver, bought in with only $10k, which anyhow was way above the average investment at the time he bought in. I guess the rule was:
"throw only play money you can definitely afford to throw to the trash bin; if BTC realizes its potential it will be more than enough".
This is changing fast and newcomers are starting to throw serious money to BTC, taking loans and so forth. That's a dangerous game. During the next boom and bust cycle expect "real life stories" of people who lost everything to BTC because of wrong choices, anxiety and poor understanding of the nature of BTC.
I guess that's what we get with mainstream attention.
I'm sure that's already happened. Has to be 1 guy who bought at $1200 and sold at $450. For every winner, there has to be a loser.
49.
Post 4100217 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.45h):
What if someone can't repay the loan? Do you have to go to a collection agency or bitfinex takes care of it and credits you back anyways?
50.
Post 4110456 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.45h):
Is it normally this quiet around Xmas time?
51.
Post 4118211 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
1166 coin wall at $701 disappeared for a few minutes or was that just me?
Yes, I was about to post it, and it popped up again, or maybe it was a wisdom glitch. I wonder if he's scared it gets eaten.
Wall is finally being attacked now.
52.
Post 4128490 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
i actually love this week. i tried to only use 10btc to lessen my risk of losing too much and now i'm up to 15. Happy Christmas to all!
Trust your instinct and don't be greedy.
The best baits for making a trap are the following:
*Graphs
*Charts
*Tables
A nice christmas gift for you! Merry Christmas and a happy bitcoin 2014!
And the same to everyone else... except give me an unhappy BTC for the first 2 months of 2014.
53.
Post 4130474 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
OK its settled. 1 bitcoin = 7 Benjamin's. Now let's work in growing btc adoption with a stable price.
What? No. I just sold at that price (boredom was a factor)! Where are my bears?
54.
Post 4130677 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
So will today go down as the most boring day in BTC history?
It's like under 15% change the whole day.
55.
Post 4133025 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
Bitstamp surpassed Mtgox in volume on bitcoincharts.com
56.
Post 4156650 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.46h):
it will drop, this is just some panic buying creating a bull trap, bitcoin will drop, it will go lower, Yes yes yes, it will drop again, it will drop and i will buy all the coinz
i'm not crazy!
it will drop, this is just some panic buying, yes it will drop again.
I hope so too.
57.
Post 4175447 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.47h):
Well I panic bought on MTGox. Still got fiat left in case bad things happen close to Jan 31. Good luck everyone.
58.
Post 4198544 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Well I'm screwed. I bought a bunch at 780. Now I'm HODLing until I figure out the next course of action.
I panic bought after it went to 830 and dropped back to 780.
59.
Post 4207709 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Come on 337 more BTC until I break even at 780...
60.
Post 4207875 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Well it was fun while it lasted.
61.
Post 4208529 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Choo Choo on gox!
Edit: Was fun while it lasted. Oh wait Yay- Recovered my losses... whee to da moon!
62.
Post 4208593 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
742 wall at Price 785!!!!
Edit: And it's gone!
63.
Post 4209302 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
If this consolidation continues for another week until Jan. 6th, bears are going to be treading on REALLY thin ice, imo.
Depends on the timeframe. Personally I expect the final capitulation in Feb +/- 1 month, so one week does not matter much. Perhaps there should be a different thread for people who trade on daily, weekly and monthly timeframe. Or less slander. If March passes without hitting $400, then the chances of seeing it again are slim.
you're the sorest loser I know
A lot can happen in the time between his prediction. So one day of tremendous gains may not mean much. It's best to be prepared for every single day and react accordingly!
64.
Post 4214243 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Don't know what to do! Went from 58%BTC down to 50%BTC again. I need more information before making a move.
65.
Post 4214571 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Don't know what to do! Went from 58%BTC down to 50%BTC again. I need more information before making a move.
woo FFXI avatar?
Yupz. And I suppose you're a very tart berry popular in Quon?
66.
Post 4215949 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Do all the pointless NSFW images on here annoy anyone else? It makes it impossible to read this forum unless I'm in private.
Ignoring doesn't really work because other people like to quote them.
Can't say I've seen anything much worse than the junk mail that arrives in my letterbox advertising lingerie, or a few of the TV adverts that have aired recently
I'd prefer not to have them either. It doesn't really add anything to the thread (or force people to click on them.)
67.
Post 4215959 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
aaand... back to your regularly scheduled stagnant market observation.
Let me know if there are any walls.
Huge resistance Wall on Mtgox at price: 792...for 200. Might get interesting. Might not.
And it's gone. Now Huge support wall at 799 --
Manipulation....
68.
Post 4216016 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
MTGOX - Something's happening!
Some cool bot setting up 300 Buy wall at 799. Another buying slowly (and selling.)
Entertaining nonethless might reach the 24 hour high.
69.
Post 4216096 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Mtgox: And it's gone!
Got to be 1 guy buying and selling to increase artificial volume.
70.
Post 4216169 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
That's the first time I have ever heard someone say that they may have made a mistake while they're sitting on a 40+ dollar per bitcoin profit. If you get nervous this easily even though you're in profit land I wonder how you'd feel when your long or short position is sitting in the red? Are you sure trading is something for you?
No, I'm not nervous about my position. I'm OK with small gains/losses. I'm nervous about the 'feeling', something just doesn't seem right. I had a similar feeling after the ATH when we fell back to the 1k level. As long as I have XBT I'm all right.
I know the feeling. I've went only 60% one way or the other so far. Now I'm back to 50% BTC / 50% fiat. With Jan 31 coming up, I just don't want to overcommit. I only had 20% BTC when Mtgox went from 700 to 800.
71.
Post 4216213 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.48h):
Random late night question:
Have any of you actually started a rally or crash with your order? I'm curious how that feels.
72.
Post 4227128 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Rumour time!
TIL that a major US hedge fund investor will announce a significant position in #bitcoin within the next several days. Happy New Year!
Source:
https://twitter.com/twobitidiot/status/417769054326108160More details
here:
The investment firm has apparently raised even more money than SecondMarket's Bitcoin Invesment Trust. I'll repost with details and firm names once the full story is pieced together.
if someone buys a Significant amount of bitcoin all within a couple days, will that make the price dip or spike?
I read in another post someone saying that it would cause the price to spike but that doesn't make sense to me. Someone buying a lot would cause the price to spike, that's logical, right?
Depends if someone dumps it in their lap but usually yes - if someone really wants to buy then they will buy upwards!
Depends on what significant amount is. Usually 1000 will do it. But won't raise price by much.
73.
Post 4227595 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox: 500 Support @ $795
Things might get interesting.
74.
Post 4228303 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Interesting debate guys regarding market manipulation. I think aminorex's definition below is a good one (regardless of one's views on the ethics of such an activity):
Market manipulation is generally understood to mean trading for purposes of effecting a price impact, not otherwise in the interest of the trader. For example, sham sales, in which the counterparties have pooled resources, or one party takes both roles, so that transactions occur at their preferred prices, can be used to create a trap for speculators, who trade at prices not determined by market forces, but by the collusion of the manipulator(s).
According to this definition, I believe that market manipulation is indeed happening. The next question is "is this wrong"? vdcc says this is fraud:
No violence, but fraud yes. If you pump/dump coins (or even fake volume and trades) for financial gain, then you are defrauding honest traders.
I'm not convinced, but I'd like to hear further arguments. Here's what I think is fraud:
A whale calls up the owner of an exchange and, says "I want to put up a 5,000 BTC ask wall to scare the fish into selling to me for cheaper, but I don't actually want to risk a bigger whale buying all my coins. Can I pay you 50 BTC to ensure that if someone tries to buy my wall that your trading engine encounters 'technical difficulties'?" If the owner agrees, this is fraud and we have laws that would apply in such a situation. But if two colluding whales buy and sell to each other on the open market to try and make it appear there is more volume at a price higher or lower than what they believe to be the market price, then could not one argue that this is simply "strategy"? Is not everyone still playing by the same rules?
That's pretty much the way I see it. It's our job to decipher fake volume. This isn't the stock market. BTC exchanges is an entirely different monster. However are there actually any laws that apply to these kinds of exchanges? Any precedent?
75.
Post 4228666 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Feels like a game of chicken.
On Mtgox, no one wants to touch the walls at 795 or 810 and price is just bouncing in between.
76.
Post 4228775 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
If major retailers, such as Overstock.com, intend to immediately convert bitcoins to fiat, then is spending bitcoins equivalent to selling on an exchange? If so, there is little incentive to spend because it adversely impacts your investment, unless sufficient new fiat is flowing into the exchanges to offset your bitcoin purchases.
2014 could turn out to be a very bad year for bulls if too many large merchants decide to accept bitcoin.
Isn't what BitPay does with its BTC more important then what Overstock does with it? Or maybe we can start a whole new group of activists who support merchants who don't instantly convert their BTC to fiat at the POS.
77.
Post 4229123 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
If major retailers, such as Overstock.com, intend to immediately convert bitcoins to fiat, then is spending bitcoins equivalent to selling on an exchange? If so, there is little incentive to spend because it adversely impacts your investment, unless sufficient new fiat is flowing into the exchanges to offset your bitcoin purchases.
2014 could turn out to be a very bad year for bulls if too many large merchants decide to accept bitcoin.
Isn't what BitPay does with its BTC more important then what Overstock does with it? Or maybe we can start a whole new group of activists who support merchants who don't instantly convert their BTC to fiat at the POS.
BitPay is in fact way ahead in the game.
They are one of the big players doing the real arbitraging.
They have an internal engine where they pull all bid & asks from all exchanges and always get the best prices.
Source is Gallippi himself, during a conference 3 weeks ago. They surely have OTC deals and shadier stuff as well.
Their business grows with Bitcoin and also makes Bitcoin grow, plus we know they are in good standing with the US Gov.
Yeah... I wouldn't worry too much about BitPay. In fact, recommend them (or coinbase or whatever) to every merchant you know. It'll be good for us all.
My point was would you rather do business with Bitpay or a competitor who didn't hedge BTC by reselling on exchanges or more realistic only sold 50% BTC back on the exchange.
78.
Post 4229238 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Interesting debate guys regarding market manipulation. I think aminorex's definition below is a good one (regardless of one's views on the ethics of such an activity):
Market manipulation is generally understood to mean trading for purposes of effecting a price impact, not otherwise in the interest of the trader. For example, sham sales, in which the counterparties have pooled resources, or one party takes both roles, so that transactions occur at their preferred prices, can be used to create a trap for speculators, who trade at prices not determined by market forces, but by the collusion of the manipulator(s).
According to this definition, I believe that market manipulation is indeed happening. The next question is "is this wrong"? vdcc says this is fraud:
No violence, but fraud yes. If you pump/dump coins (or even fake volume and trades) for financial gain, then you are defrauding honest traders.
I'm not convinced, but I'd like to hear further arguments. Here's what I think is fraud:
A whale calls up the owner of an exchange and, says "I want to put up a 5,000 BTC ask wall to scare the fish into selling to me for cheaper, but I don't actually want to risk a bigger whale buying all my coins. Can I pay you 50 BTC to ensure that if someone tries to buy my wall that your trading engine encounters 'technical difficulties'?" If the owner agrees, this is fraud and we have laws that would apply in such a situation. I agree this is fraud, as I don't expect the exchange owners to do this. (I wish they stated clearly how they stand in such cases). This is probably unlawful. Even regarding this, I do not want regulation, because a) regulation invites to corruption b) excessive regulation and control leads to erotion of ethics on the part of the exchange ( anything that is not expressly forbidden will seem ethical, ref current situation with the banks) and mostly, c) it leads to complacency among the traders, who will not care to evaluate the exchanges themself, but blindly trust the regulators (ref the Madoff example). Another thing is a voluntary organization to check on the exchanges for their members, that could be useful. Now we have only the press and this forum, which is better than nothing.
But if two colluding whales buy and sell to each other on the open market to try and make it appear there is more volume at a price higher or lower than what they believe to be the market price, then could not one argue that this is simply "strategy"? Is not everyone still playing by the same rules?
Exchange owners don't need to involve anyone else to do fraud. They have millions of dollars of our money and BTC with no auditors. Volunteer organizations would prove a security risk. Wasn't there a huge incident when an auditor's account got hacked and lots of BTC was stolen? Was that Mtgox? Sorry don't recall the exchange without looking it up.
79.
Post 4231718 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox 500 support wall at $781 was obliterated instantly.
80.
Post 4231813 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
600 or so coins dumped. Small potatoes.
Why does this feel like 1 individual doing this?
81.
Post 4231858 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Look at this guy. He was somehow able to turn an entire 1000 red candle into green.
82.
Post 4232007 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
It [fraud] also requires the deception to be practiced "in order to secure unfair or unlawful gain." This second half is one thing that makes it different from a "hoax."
Of course this merely pushes the question back a square: What is unfair?
Yes, exactly! The Wikipedia definition requires the arbitror to not only conclude that the deception was deliberate, but that the gain that resulted from it was "unfair." So we are back a square, indeed. If a whale places a 3000 BTC ask wall to scare the small fish into selling, does that qualify as "deception"? A larger whale could eat his wall in a single bite. And even if one concludes that this
is deliberate deception, is this also "unfair"? The market participants are playing by the same rules, some of them just happen to hold more capital. Lastly, I'm not even convinced that
profitable manipulation is even possible over the long term.
One reason that I'm excited about bitcoin and the power of the blockchain is that I believe it will allow us to write more exact contracts and motivate de-ambiguity or our legal system.
I think this is happening right now. 1100 BTC volume in the last hour and we barely moved.
83.
Post 4243625 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Happy New Year from down under...
Without intending to, I ended up acting as a bit of a Bitcoin advocate tonight while out with friends at a New Years Eve party. I tried to enlighten them (inadvertently came up with a different analogy each time) as to what Bitcoin really was, but in the end the main 'argument' they had against it was "If I can't touch it, it's not real - I don't trust the internet with it". Which is ironic since that is basically what they're doing with their bank accounts.
One guy was a Financial Advisor (capital 'F', capital 'A' - his distinction, not mine) who said he was happy to "argue against Bitcoin all night". I (successfully, I think) countered every roadblock he threw up about Bitcoin and ended up betting him that one Bitcoin would be worth more than $50,000USD in 3 years (perhaps a little bullish, although can you blame me?)*. I confess, I may have been a little inebriated by this point, but I am getting a little fed up with the ramblings of people who have not taken a few minutes out of their day to research what Bitcoin actually is (i.e. a protocol as well as a currency), but instead act as if they're experts who foresee the demise of this 'imaginary money'.
Does anyone else get a little fed up with this sort of attitude?
(Apologies if this post does not belong in this thread... It's just that this is the main thread I read (every morning without fail, I trawl through the 8 or so pages that have been posted overnight... > 8 pages = something big has happened, < 8 pages = price has remained stagnant.) Although, it seems 'stagnant' in Bitcoin vernacular is akin to 'short-term' or 'temporary' in normal trading terms.)
*Bought at $1060 and have been 'hodling' ever since.
Well done! Fucking well done! Thanks for being so sincere and keep hodling - you'll be in the black shortly no worries at all!
Thanks hey! There are some very nice guys on this forum
.
A few girls are on here too.
Yes, I purchased into the last rise in price and was "under water" so to speak for several months in the Summer. Just held on and it all worked out. The only people that really lose any value are those that panic then sell before the price rises again. Hopefully, in your case, you won't have to wait too long. Things are looking pretty good right now I would say.
Historically The $30 drop in 2011 up to reaching $30 in 2013 was the longest it took to reach the same price. Holding for 1 year should put you in good position. Someone correct me if I'm wrong.
84.
Post 4243743 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Historically The $30 drop in 2011 up to reaching $30 in 2013 was the longest it took to reach the same price. Holding for 1 year should put you in good position. Someone correct me if I'm wrong.
The historical probability of being up after holding for 365 days is 90%.
The average 365 day return is 2370%.
Thank you for those lovely statistics.
85.
Post 4243819 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Happy New Year from down under...
Without intending to, I ended up acting as a bit of a Bitcoin advocate tonight while out with friends at a New Years Eve party. I tried to enlighten them (inadvertently came up with a different analogy each time) as to what Bitcoin really was, but in the end the main 'argument' they had against it was "If I can't touch it, it's not real - I don't trust the internet with it". Which is ironic since that is basically what they're doing with their bank accounts.
One guy was a Financial Advisor (capital 'F', capital 'A' - his distinction, not mine) who said he was happy to "argue against Bitcoin all night". I (successfully, I think) countered every roadblock he threw up about Bitcoin and ended up betting him that one Bitcoin would be worth more than $50,000USD in 3 years (perhaps a little bullish, although can you blame me?)*. I confess, I may have been a little inebriated by this point, but I am getting a little fed up with the ramblings of people who have not taken a few minutes out of their day to research what Bitcoin actually is (i.e. a protocol as well as a currency), but instead act as if they're experts who foresee the demise of this 'imaginary money'.
Does anyone else get a little fed up with this sort of attitude?
(Apologies if this post does not belong in this thread... It's just that this is the main thread I read (every morning without fail, I trawl through the 8 or so pages that have been posted overnight... > 8 pages = something big has happened, < 8 pages = price has remained stagnant.) Although, it seems 'stagnant' in Bitcoin vernacular is akin to 'short-term' or 'temporary' in normal trading terms.)
*Bought at $1060 and have been 'hodling' ever since.
Hi JulieFig, my counter-attack against such people is to appeal to the logically desire to maximize wealth. You ask them this:
You meet a generous billionaire who loves to gamble just for the lulz. He offers you a bet: he says he's going to toss a coin (a provably fair coin) and you get to call it in the air. If you lose, you lose your bet, but if you win, you win 20 X what you bet. You only get one shot at this. How much would you bet?Even if you detest the concept of bitcoin and assign it a small probablity of success, it is logical to at least make a small bet in case it succeeds. Why not risk $100 in case it goes to $500,000 per bitcoin?
*To do this, you must be able to convince them that should bitcoin *one day* become a dominant global currency, it must have a market cap measured in hundreds of billion or trillions of dollars. This is fact, but still some people can't understand that if more people buy something of limited supply that the price must rise. Well to those people, BTC still sounds like every other get-rich-quick money making scam out there and "if it sounds too good to be true, it probably is." These people are quickly identified and I don't waste my time. Even those who want to throw money at BTC because of how much it's risen, I tell them you have to understand BTC before buying into it. (I don't want to deal with anyone who gets pissed at me because the price starts crashing after they buy in.) One of my colleagues wants to buy and I explained you have to understand what BTC is. She's like Why? I'm only spending $10. Well, can't argue with that I guess.
86.
Post 4244491 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
How I rue the warm autumn day in 2009 when my mom emailed me a note on bitcoin from some obscure "New Age" website and I was too arrogant to even read it.
lol! Your mum got in before you! That's rich!
It's quite sad actually. She wanted to get $100 worth. IIRC MtGox wasn't even around at that time, but I think there was some other way to buy some. I had it in my head that it was just some stupid video game money so I didn't put forth than 20 min of effort it would have taken to help her.
Oh. Bad luck.
Does she have a keen understanding of such things or was it just on a whim for her?
Guess you owe her a few coins.
A few? More like a 1000! I bet Peter's mom gives him crap about it for as long as he lives. haha
87.
Post 4245556 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
NEW 24 HOUR HIGH ON MTGOX!
(but only because it's been 24 hours since we reached the last high, but who knows what the rest of the day has in store.)
88.
Post 4245618 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
He was pretty dumb, so wouldn't put it past him
Ross Ulbricht is a clever dude, by any rational standard. I conclude that you are not rational. Sorry, but Aristotelian logic alone compels me.
You'd figure he have it setup so if he doesn't input a certain code every 24 hours, the BTC automatically transfers to another BTC address. Every single movie villain has a bomb that blows up without code or connected to heart beat monitor. Didn't wikileaks owner have the same kind of fail-safe plan.
89.
Post 4246129 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox 24 Hour High $814 - Congrats!
90.
Post 4246257 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox 24 Hour High $815 - Someone just bought 200!!! Come on Choo choo!
91.
Post 4246529 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox 24 Hour High $816 - Everyone join in the "rally"
135 support @ $810!!!
92.
Post 4246652 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Mtgox 24 Hour High $817 - Come on Choo choo!
100 Support @ $812
137 Support @ $809
93.
Post 4246847 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
If Mtgox doesn't come back before 11:59PM, I'm going to claim 100% capital loss on my tax return.
94.
Post 4249757 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
Anyone know who can fix
http://trading.i286.org/? Been screwed up since Mtgox went down.
95.
Post 4250108 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.49h):
happy new yr y'all
heh..just looked at the clock....2min past midnight here CST...heh FML was on bitcointalk here...sigh
then again at work so it is probably a wash....
happy new year to you it all and may bitcoin rise at the same rate it did from jan 2013 (what was it $13usd? to the 825 on
www.mtgox.com it is jan 2014)
anyone with math figure out what it would be at same rate by jan 2015..i want to know so I can have a mini btc woodie.....
anyway may bitcoin thrive even more in 2014 (it better have my a*ss hanging out there in equip and btc like the rest of you foo....er I mean enlightened types)
Searing
80x? We'd have to hit $64,000! Very unlikely.
96.
Post 4276669 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Is there such a thing as a butthurt bull in a bull market? I think I am one of those. I am long term bullish. I know that Bitcoin will go up, way up. I know that I need more BTC. I have fiat ready. Yet, I still can't buy back in now, after that sell a couple of weeks ago, when 580 looked like the top of a dead cat bounce...
GAAAAAAAA........
You went full fiat?
Yes, full fiat with my
trading allotment. The sad thing, I thought I was being clever, having placed a number of limit orders, selling gradually on the way up, and it did look like 580 was going to be a top, but then everything went horribly wrong.
Ouch, i feel sorry for you, you don't sound like a bear.
Never go full fiat.. always keep at least 75% in cold storage.Even I feel fucked while 20/80 fiat/btc now.
I'm doing terrible this year and of course we just started. Did not see that 1500 order coming. Oh well time to HODL on to what I have left. *sigh*
97.
Post 4276847 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Anyone who wasnt buying over new years instead of partying will never have the motivation to make it in bitcoin nor much anything in life.... unless your already a millionaire then you kool
I wasn't buying over new years.... I was selling. And I'm not a millionaire.
98.
Post 4282303 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
So, people saying we're gonna get that one last chance to buy low. I hope so, I also have my bids, but everyday it looks less and less likely. I suppose one of us could trigger it by thinking "screw it, I'm gonna go all in." It's not gonna be me though...
Yeah, we are going to have ONE LAST LOW. And its coming over the next 48-60 hours with the weekend dip. And then on January 6th it will be higher than it is today. So you better buy the dip that's coming - which will probably be around $720 on Stamp.
I hope you're right too. But unless all that Mtgox support is fake, I don't see it happening.
I panic bought some at $850 and will probably be holding unless there's terrible news or someone market orders for 5000.
99.
Post 4295907 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Its coming.......
What's coming???
hahaha
only one thing will save you from the boom thats about to go off!
BUY SOME F'ing BITCOIN!
ALREADY DID, NOW I'm HODLING.
(But everything looks too perfect - support, charts, trends. I'm seriously worried because of that.
)
100.
Post 4297302 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Its coming.......
What's coming???
hahaha
only one thing will save you from the boom thats about to go off!
BUY SOME F'ing BITCOIN!
ALREADY DID, NOW I'm HODLING.
(But everything looks too perfect - support, charts, trends. I'm seriously worried because of that.
)
Don't forget that TA is being manipulated. Everything is made to look bullish to build up the bids.
I'm thinking "someone" is bringing the price up with huge support, only to later remove support and dump before the 31st of Jan China deadline. They would then get way more per coin than if they would have dumped with masses when the news was first released.
How high we will go, I do not know, but I would not buy coin now to save my life. We have never been to a price without coming back down to at least 50% of it. I do not see us reaching ATH before we see ~550 again.
Someone just unloaded 200 on Mtgox. Let's see what happens.
Edit: 350 now...
101.
Post 4297476 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Everyone watching and not posting?
Feels like Dark Knight movie with joker in control of the 2 ferries leaving the fate among citizens.
102.
Post 4297570 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Everyone watching and not posting?
Watching the MU Tigers football game
It's a tense standoff between the bulls and bears right now.
103.
Post 4298370 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
What are you saying, specifically?
Nothing at all.
That's the majority of people in this thread.
104.
Post 4300050 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Anyone else biting their fingers and hodling?
Why do people dump now? How do they think? "Well the price is going up, lets quickly dump before i make more money by putting up a sell order around 900"?
They're dumping because 900 is an extremely quick recovery time historically. What's funny is they're not putting up the sum asks meaning they're not sure.
105.
Post 4300147 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Whoever bought Mtgox 40 BTC, you got balls man (or daring lady).
106.
Post 4300282 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
I welcome any and all analysis. I take everything with a grain of salt. I don't like to call anyone out on bad calls. I've made my share. But some people just get on my nerves....
+1
I don't mind the calls and analysis either. It's the calls without analysis that get on my nerves. Now granted I've done the choo-choo and bear calls every now and then. But sometimes it's excessive.
107.
Post 4300566 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Why do people dump now? How do they think? "Well the price is going up, lets quickly dump before i make more money by putting up a sell order around 900"?
the people who are dumping now are the ones who bought coins before we took off and are taking profits (out of the pockets of those who bought coins during the rally itself).
Great. Now read my post again.
hes right... day traders might be dumping profits right about here
but, no one is really dumping...
the market appears safe, i think we can rally to 900 in a few days time.
Isn't it a little early to make that judgment? All the supports are pretty much crippled.
108.
Post 4302584 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
It's sad, but it appears famous BTC addresses are being spammed.
109.
Post 4314112 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Mtgox Buy Wall @ $910 is magnificent! I salute you, wall!
110.
Post 4316225 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Mtgox Buy Wall @ $910 is magnificent! I salute you, wall!
So we have people encouraging each other not to sell and now 'saluting' an obvious manipulative wall which will keep the price higher for a while.
Sell you morons! Fuck you fake wall.
Feel better now?
lol, I do feel much better now. Thank you Doc.
Well we reached 911 a couple times and the wall was not removed.
Of course that doesn't mean it's genuine, but I'm glad it stuck.
111.
Post 4317186 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
We have a situation now with one or more powerful buyers repeatedly hammering the MtGox asks. People see the solidly rising trend and panic buys from time to time, but we hardly correct, it is sideways for a few hours then upwards again like a marathon runner.
tl;dr extremely bullish situation. New ATH in 24h?
I agree whole hardly if we break 1000 without a sweat, but I am semi certain we see people sell shy of it at 975-999 thinking they'll be smarter then the next person.
Like me?
I have sell orders in that range, but I will expire them if the BTC price doesn't reach that range within the next 8 hours.
112.
Post 4317406 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
Bitcoin Bulls -> "Price will go up to $10,000 and beyond without making serious corrections downward on its way there."
Bitcoin Bears -> "Price is currently a bit too high and is due for a major correction. We will eventually get to $10,000 but we aren't going there soon."
Bitcoin Bears are le sad
sorry you missed the train
Not so fast. Looks like major resistance up ahead after we hit a 24 hour high on Mtgox.
113.
Post 4318102 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.50h):
It's not over yet. On Mtgox Resistance Wall at 921.3.....
114.
Post 4322639 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.51h):
Well if this is someone's idea to stabilize the price on Mtgox, congratulations it's working so far. I sense some big winners and losers coming soon.
115.
Post 4340592 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.51h):
Umm... is mtgox frozen or just me?
116.
Post 4340714 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.51h):
Goxed?
I can't login. None of charts are updating. Hmmm...
117.
Post 4352944 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
I'll do it if you want. Address down there ---v
Suggest coinabul deposits first as he's called the bet. Terms will have to be properly defined (48 hours from when)
The address is in his sig. I'm assuming Richy can be trusted? Someone has dealt with him before? (No offense Richy, you know how it is around here)
No problem. I've had dealings with a few people but none in this thread I think.
I will tell you I can be trusted, of course
hey richy, if this bet is still upafter 4pm pacific i will pm you to get in on it.
thanks
I'd totally jump on this if my state laws weren't holding me back.
Seriously, hitting 749.999 at least once in the next 48 hours at 1:1 odds? If I was Coinbull, I'd be asking at least 10:1.
118.
Post 4353195 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
what if.. *thecoinbull is in fact a big juicy fat whale that will dump Ks of BTC to at least create a panic sell down to 750ish? we all know this can 'happen' any time any way considering the volumes this last month (imho everybody is expecting a drop to somewhere around 800 at least).. Hence he would then sell 'still' high, buy back at 750 and get an extra 7 or 8 coins?!
haha gaaad i'd love to do something like that...
I must not have gotten the memo that everybody is expecting a drop to at least 800....
I sure as hell don't expect it.
I used to expect it from 600 to 1000, but not anymore. Looks like drops of around 100, but not more than that. That's how I feel at this hour. My opinion could change within the next hour.
119.
Post 4353911 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
what if.. *thecoinbull is in fact a big juicy fat whale that will dump Ks of BTC to at least create a panic sell down to 750ish? we all know this can 'happen' any time any way considering the volumes this last month (imho everybody is expecting a drop to somewhere around 800 at least).. Hence he would then sell 'still' high, buy back at 750 and get an extra 7 or 8 coins?!
haha gaaad i'd love to do something like that...
I must not have gotten the memo that everybody is expecting a drop to at least 800....
I sure as hell don't expect it.
I used to expect it from 600 to 1000, but not anymore. Looks like drops of around 100, but not more than that. That's how I feel at this hour. My opinion could change within the next hour.
imo that spread highly depends on volumes which are still hard (*if not impossible) to predict because of impredictable whales movement
edit answer:
Only 1 person expects it
as long as ATH has not been reached again i am prepared for everything yes indeed, but that does not mean i am urging for such scenario to happen.
I feel like whales aren't agreement anymore. What has been the biggest dump so far since we hit 450? Seems like 300 at once. But we had a 1500 buy order. Let me know if anyone else recalls differently.
120.
Post 4354185 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Come on. Have mercy. I just bought in Mtgox $1015 and it started dropping.
121.
Post 4354497 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Come on. Have mercy. I just bought in Mtgox $1015 and it started dropping.
What about the ppl that bought at 1200
They are starting to get some hope again about that their money isnt threwn away.
They could have known the risks tho...
Come on. Have mercy. I just bought in Mtgox $1015 and it started dropping.
Hold and be patient. Things will be okay if you do this.
Ha. It worked. Got some buy orders at $980's filled!
But ok that's enough dropping.
122.
Post 4354768 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
much dollars
very luxury
such support
Each support can be broken.
Though I can't see any reason for dropping more and maybe entering bear market again.
Hodl?
Ore buy more Doge Coin?
There's 1 reason. 12,000+ coin dump so CoinBull can win his bet that it won't drop to 750 in 48 hours.
123.
Post 4357314 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
So i just read through like 15 pages of people negotiating a bet with someone I've had ignored for about a month. Unsurprisingly, it looks like you all got trolled.
Also, the total amount of btc involved was like 20btc?? Seriously, I feel someone would be prepared to "sell" their hero account for this much. i.e just disappear with the money. I don't wish to doubt your integrity Richy.T, but I'm not sure I would trust anyone on here with that much btc. Apparently I'm too cynical?
Maybe not cynical enough.
But I wouldn't be hard to find. I'm going to throw my life over for 20 grand? Besides, I've got ChartBuddy to think of. Where I come from, nobody gets left behind.
Oh yeah, I forgot that you're chartbuddy. Where I come from 20k is a lot of money. Any chance of doing a chart for bitstamp?
I think 20K is a lot of money for everyone. 20 BTC.... $1000 each ... it's still so hard to imagine even the 2nd time around.
124.
Post 4358180 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
so who wants to break minor resistance and possibly cause a paradigm shift!
is it you?
its not me... you'll be buying my bitcoin, i can't help but sell a little... *sigh* everyone has a price tag...
Sell? Sell. SELL! SELL! SELL!
125.
Post 4358733 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
support zone will vanish and become the new resistance zone.
Tonight's Mtgox Match Up!
325 BTC @ $1036 Little Guy vs 1142 BTC @ $1050 Behemoth!
126.
Post 4359857 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
I think the massive dump triggered a shutoff switch....
127.
Post 4359913 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
I think the massive dump triggered a shutoff switch....
Yeah, but it wasn't even massive, just medium, yet if they have a shutoff for that it is complete garbage. It almost is like a gut fear reaction, Gox doesn't want the price dropping so they just turn off their exchange, haha.
The dump was cut off wasn't it? I assumed it was lower than 990.
128.
Post 4359931 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
good morning I open bitcoinwisdom to look at the movement to see the price at 1040 and a dump follow right away and brings the price to 990
some men want to watch the world burn
it has been happening repeatedly now, the price goes up the bids build up then a dump follow and again and all over again...
I don't think so. Someone is making a lot of money off the manipulation. Most of us are just fish in a sea full of whales.
129.
Post 4359968 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
I think the massive dump triggered a shutoff switch....
Yeah, but it wasn't even massive, just medium, yet if they have a shutoff for that it is complete garbage. It almost is like a gut fear reaction, Gox doesn't want the price dropping so they just turn off their exchange, haha.
The dump was cut off wasn't it? I assumed it was lower than 990.
It was at 990 and seemingly still going and click the exchange turns off.
Whoever bought at 1029.9999 got seriously screwed.
Probably a bot.
130.
Post 4360027 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Bet when we come back we'll start at 749 and Coinbull will come swooping in with his BTC address.
131.
Post 4360061 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Bet when we come back we'll start at 749 and Coinbull will come swooping in with his BTC address.
18 more at 1030 at 1:16 am lol
IMO: this is not a pause unless the dump they paused was not posted at all.. which is the most iffy idea.
However looking at the chart much more coins have been dumped in the last 24hrs with no stuttering.. so I think it was a ddos perhaps
Why is no one on the other exchanges panic selling? It really looks like it was a cutoff. Is that not a free chance to sell now?
Edit: Possibility huge account was hacked and that triggered the stop? Not sure if Motgox would have that capability.
132.
Post 4360114 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Bet when we come back we'll start at 749 and Coinbull will come swooping in with his BTC address.
18 more at 1030 at 1:16 am lol
IMO: this is not a pause unless the dump they paused was not posted at all.. which is the most iffy idea.
However looking at the chart much more coins have been dumped in the last 24hrs with no stuttering.. so I think it was a ddos perhaps
Why is no one on the other exchanges panic selling? It really looks like it was a cutoff. Is that not a free chance to sell now?
well the same reason there sub 1k before hand. They're victim to flow of fiat in and out.
I'm still just confused about this being caused by that measly selloff .. and the dumper should just dump when he can.
I just hope the dump isn't over 10,000 because I didn't prepare any fiat for that.
133.
Post 4360213 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
BTW I am really curious about Mtgox, I see allot of people selling there, and most of the time huge sells appears and I still wonder how do they get their money off the exchange? I mean why does anyone still sell there ? or maybe there is a premium club of members that still can get money in/out fast than others ?
gox has a lower volume than Stamp yet a deeper book order comparing to Bitstamp, in my experience Bitstamp is the only exchange where I can get money in/out in a matter of a couple of days, if I send early enough during the day and having a bit of luck my deposits/withdrawals were credited the same day sometimes...
That's a damn good question. haha
There is a tier 3 of verification which allows a withdrawal up to $1 million Ithink. And since they're valuable customers I'm sure they have more priority then the $75 withdrawal.
134.
Post 4360474 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
BTW I am really curious about Mtgox, I see allot of people selling there, and most of the time huge sells appears and I still wonder how do they get their money off the exchange? I mean why does anyone still sell there ? or maybe there is a premium club of members that still can get money in/out fast than others ?
gox has a lower volume than Stamp yet a deeper book order comparing to Bitstamp, in my experience Bitstamp is the only exchange where I can get money in/out in a matter of a couple of days, if I send early enough during the day and having a bit of luck my deposits/withdrawals were credited the same day sometimes...
That's a damn good question. haha
There is a tier 3 of verification which allows a withdrawal up to $1 million Ithink. And since they're valuable customers I'm sure they have more priority then the $75 withdrawal.
I know about people who are stuck with $100K withdrawal for months now, so I doubt it, although the person I know was never a trader, so for sure he is not a member of any premium club, he was just a miner who mined early enough and held to the coins, I don't know waht others think, but the only case when I sold bitcoins was when I needed the cash for something and after march 2013 it was no option for me to sell at gox, even though I always used bitstamp because I live in Slovenia and things go faster... but just think about it, when you sell at today's price and than wait 4-5 months just to maybe and I insist on "maybe" get that money when Bitcoin will be worth allot more by then....I mean who does that really ? and why?
I am not jumping on accusations, But I want to ask people here if they still trade at gox? how many of you here really use gox ? and why ? mtgox data might be made up the same as huboi or okcoin... who knows... it doesn't make any sense...
I still trade there. I'm hoping to withdraw from Gox in small amounts eventually. I don't care if it takes 1-2 months as long as I get them. Then redeposting in another exchange. I don't want to take the 20-30% loss switching to other exchanges by withdrawing in BTC.
Edit: My God the Mtgox fee really sucks compared to Bitstamp.
135.
Post 4361106 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
BTW I am really curious about Mtgox, I see allot of people selling there, and most of the time huge sells appears and I still wonder how do they get their money off the exchange? I mean why does anyone still sell there ? or maybe there is a premium club of members that still can get money in/out fast than others ?
gox has a lower volume than Stamp yet a deeper book order comparing to Bitstamp, in my experience Bitstamp is the only exchange where I can get money in/out in a matter of a couple of days, if I send early enough during the day and having a bit of luck my deposits/withdrawals were credited the same day sometimes...
That's a damn good question. haha
There is a tier 3 of verification which allows a withdrawal up to $1 million Ithink. And since they're valuable customers I'm sure they have more priority then the $75 withdrawal.
I know about people who are stuck with $100K withdrawal for months now, so I doubt it, although the person I know was never a trader, so for sure he is not a member of any premium club, he was just a miner who mined early enough and held to the coins, I don't know waht others think, but the only case when I sold bitcoins was when I needed the cash for something and after march 2013 it was no option for me to sell at gox, even though I always used bitstamp because I live in Slovenia and things go faster... but just think about it, when you sell at today's price and than wait 4-5 months just to maybe and I insist on "maybe" get that money when Bitcoin will be worth allot more by then....I mean who does that really ? and why?
I am not jumping on accusations, But I want to ask people here if they still trade at gox? how many of you here really use gox ? and why ? mtgox data might be made up the same as huboi or okcoin... who knows... it doesn't make any sense...
I still trade there. I'm hoping to withdraw from Gox in small amounts eventually. I don't care if it takes 1-2 months as long as I get them. Then redeposting in another exchange. I don't want to take the 20-30% loss switching to other exchanges by withdrawing in BTC.
Edit: My God the Mtgox fee really sucks compared to Bitstamp.
ummm, it's 2 to 3 months and losing 30% buy transferring your coins to another exchange or losing 30% buy having your money stuck in depreciating fiat instead of BTC is the same loss. That's assuming you EVER get the funds, something I'm starting to doubt. 30% is actually a low side loss when you consider that on average bitcoin appreciate >1000%/year.
When I was just starting BTC, I was all or nothing. But now I rarely go 100% into BTC. Admittedly I made a few mistakes by not. But this way I can sleep at night. Also I know this is psychological, but I still like being on the exchange with the highest USD so when we do hit the Mtgox ATH I can see it and be part of it! Rather then "Congrats to those guys on Mtgox, they hit the ATH."
As more people leave Mtgox, I'll probably get my withdrawls faster.
136.
Post 4361247 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
BTW I am really curious about Mtgox, I see allot of people selling there, and most of the time huge sells appears and I still wonder how do they get their money off the exchange? I mean why does anyone still sell there ? or maybe there is a premium club of members that still can get money in/out fast than others ?
gox has a lower volume than Stamp yet a deeper book order comparing to Bitstamp, in my experience Bitstamp is the only exchange where I can get money in/out in a matter of a couple of days, if I send early enough during the day and having a bit of luck my deposits/withdrawals were credited the same day sometimes...
That's a damn good question. haha
There is a tier 3 of verification which allows a withdrawal up to $1 million Ithink. And since they're valuable customers I'm sure they have more priority then the $75 withdrawal.
I know about people who are stuck with $100K withdrawal for months now, so I doubt it, although the person I know was never a trader, so for sure he is not a member of any premium club, he was just a miner who mined early enough and held to the coins, I don't know waht others think, but the only case when I sold bitcoins was when I needed the cash for something and after march 2013 it was no option for me to sell at gox, even though I always used bitstamp because I live in Slovenia and things go faster... but just think about it, when you sell at today's price and than wait 4-5 months just to maybe and I insist on "maybe" get that money when Bitcoin will be worth allot more by then....I mean who does that really ? and why?
I am not jumping on accusations, But I want to ask people here if they still trade at gox? how many of you here really use gox ? and why ? mtgox data might be made up the same as huboi or okcoin... who knows... it doesn't make any sense...
I still trade there. I'm hoping to withdraw from Gox in small amounts eventually. I don't care if it takes 1-2 months as long as I get them. Then redeposting in another exchange. I don't want to take the 20-30% loss switching to other exchanges by withdrawing in BTC.
Edit: My God the Mtgox fee really sucks compared to Bitstamp.
ummm, it's 2 to 3 months and losing 30% buy transferring your coins to another exchange or losing 30% buy having your money stuck in depreciating fiat instead of BTC is the same loss. That's assuming you EVER get the funds, something I'm starting to doubt. 30% is actually a low side loss when you consider that on average bitcoin appreciate >1000%/year.
When I was just starting BTC, I was all or nothing. But now I rarely go 100% into BTC. Admittedly I made a few mistakes by not. But this way I can sleep at night. Also I know this is psychological, but I still like being on the exchange with the highest USD so when we do hit the Mtgox ATH I can see it and be part of it! Rather then "Congrats to those guys on Mtgox, they hit the ATH."
Yeah, like mental illnesses are psychological. Bragging rights more important than actually getting your money? Hell, I've hit the ATH on Trade Hill, Bitoption, Bitmarket.eu and...what? they don't exist anymore? WooHOO! I had the most BTC there when they disappeared! Yeah for me!!!!!!! I win, right?
Yes and Mtgox has been around the longest and hasn't disappeared. But I'm waiting until the price is around 10-20% difference before switching.
137.
Post 4371748 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Doesn't appear to be much resistance all the way up to $1000 - Unless I'm misinterpreting.
138.
Post 4372175 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Well someone on Mtgox really wants the price to stay above $952.21
139.
Post 4372790 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
Getting rid of China is bullish?
140.
Post 4374842 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.52h):
I panic sold too (not everything of course) took a huge loss! The price could go up, but with China news and being overinflated I give up. Closing all charts and forums for the rest of the day. I feel like crap, but I can't concentrate knowing the price was going to go down. Good luck everyone else.
141.
Post 4473766 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.54h):
For someone who isn't optimistic about the future of Bitcoin, you sure are around a lot. What are you doing? Research?
Basically yes. I do not expect to make any great discoveries, but as a computer scientist I am supposed to understand Bitcoin (and have a reasoned opinion about it).
As I said before, I am satisfied that the technical part is sound, but I still cannot see how it can succeed economically. I am still trying to understand how the market works (if it does).
People who take risks are the ones typically rewarded. Even if you were to buy two bitcoins. If they double in price sell one and you've earned a free one. If they halve in price sell both and you lost half of your investment. It's a calculated risk with great reward potential.
Methinks that 1800 dollars is too much money to gamble. (My betting limit is a pizza and a beer, and I have made only three or four such bets in my life.) I would rather spend that money on tools or other grown-up toys.
He feels like he missed the boat so instead of buying now and hoping for a continued growth he wishes for its failure so he can validate his decision not to enter the market.
That too, I suppose.
There are ton of factors why I'm not all in BTC either.
1. Price skyrocketed in the last 3-4 weeks.
2. FBI's coins
3. I can't sleep at night when all my money is in BTC, but I can when it's in fiat. This is because there appears to be a fiat investment opportunity to look into which has a stable growth potential that I must look into first.
4. Stupid alt-coins.
5. Jan 31 in China and other unpredictable China announcements.
6. Overstock accepting BTC price increase was less than satisfactory. Is it because they're selling everything right away and that's affecting the price negatively?
142.
Post 4475407 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
3. I can't sleep at night when all my money is in BTC, but I can when it's in fiat.
Stop loss orders work for me.
Doesn't work for me. I'd rather let the market run rather then not making an informed decision while I'm asleep. I think there in lies the problem. I just care too much when my money is in BTC and have to check charts, price, FUD, every minute. I'm not 100% fiat obviously. Just enough that I'm not forced to check 24/7.
Methinks that 1800 dollars is too much money to gamble. (My betting limit is a pizza and a beer, and I have made only three or four such bets in my life.) I would rather spend that money on tools or other grown-up toys.
I am not a betting person either so I get this. I used to think that Bitcoin was a bit of a gamble but as time has gone on I have come to realize that in a strange way, our fiat is a gamble too. Pretty much everything we have our money invested in has some risks. Real estate can lose value, even gold and silver fluctuate in value, although it can hold value better than some things. Nothing in life is a "sure thing." The wise person makes educated guesses and puts money where there is less risk in doing so I believe.
So far Bitcoin has shown to be the best store of value I have ever had the opportunity to have though. I am rethinking how I look at things because of this. The coins are the last resort we use when we need funds. Unfortunately it looks like we will have to sell one in the next week to pay some bills thanks to a bigger than expected credit card bill because of Christmas and some extra curricular activities for the kids. Maybe I am too optimistic about where BTC is going? I am not sure, but I would way rather hold them right now if at all possible.
Timing is everything when it comes to investments. Like you said market goes "up" and "down" and you want to tap that resource on your terms not when you have to make a desperate fiat conversion. Take more risks when the money has little chance of being needed and put something away long term. Even US taxes hurt if you need the money right away because you'll be losing another 10% on short term Capital gains.
143.
Post 4475832 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
3. I can't sleep at night when all my money is in BTC, but I can when it's in fiat.
Stop loss orders work for me.
Doesn't work for me. I'd rather let the market run rather then not making an informed decision while I'm asleep. I think there in lies the problem. I just care too much when my money is in BTC and have to check charts, price, FUD, every minute. I'm not 100% fiat obviously. Just enough that I'm not forced to check 24/7.
Hodling until the days of an extremely high price, or a time when volatility is extremely low, will be well worth the stress involved.
If you are a day trader, then the stress is part of the job with this market.
I might be the first person to go bald due to stress caused by bitcoin lol. I had 95% of my savings in bitcoin by the end of February, so I've been on a hell of a ride since then (currently dissolved).
Days of extremely high price? We hit MtGox $1090 from $450 in the last month. As far as I'm concerned $600 at the time was considered a high price for me. The price right now $940 is considered high. This trend has been incredibly hard to predict as we've pretty much flatlined after every other tremendous drop. I suppose if the market was behaving with my trades it would be less stressful, but so far I've made nothing but incorrect trades since the last drop.
The problem is there just isn't a time with low volatility. With every new merchant, FUD, or news means more research and the process starts over again.
144.
Post 4475915 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
http://trading.i286.org/Who runs this? Is there a way to give suggestions? I'd like a filter to remove from the trade history all trades under 0.1 BTC. Those bots are getting really annoying. Other than that, it works great!
145.
Post 4479318 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
I wish these companies accepting bitcoin would give customers a percentage off when using bitcoin. They are saving fees from their regular payment processors and paypal etc, so why not pass some savings to the customer. Then there would not be this talk of these companies not having a positive impact on bitcoin. I know they are essentially spreading the word, but has anyone bought bitcoin for the first time just to buy from these companies that accept bitcoin?
This is a key reason to buy the rumor, sell the news. You never know how short the peak will be once news like this is out, as we have seen.
Price would have skyrocketed if there was a link on the homepage to accepting BTC with info about it. Then purchasing your first BTC at coinbase with commission to overstock for sales.
146.
Post 4480048 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
On Mtgox, there's 443 BTC until the huge wall at $900 of 491....
147.
Post 4481184 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
Those guys putting in market buy orders on MtGox when the ask volume is so slim.... I feel bad for them. They don't know what they're walking into....
I was wondering what the hell is going on for a long time.
148.
Post 4481302 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
Those guys putting in market buy orders on MtGox when the ask volume is so slim.... I feel bad for them. They don't know what they're walking into....
I was wondering what the hell is going on for a long time.
they want coins.. want to lock em , put em in cold storage and wait ..5 years.. maybe a year who knows.. they control the money and so they choose how to spend it.
Sure, but you had to wonder why there was such low ask volume on Mtgox from 915-960 and yet the price was still going down. They thought they could reverse the trend yet they weren't looking at the bigger picture. The market order was up to 930. The price might go up now since some things have changed. But at that time I felt it was a terrible move.
149.
Post 4496879 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
Well I bought at Mtgox $915 last night thinking that 300 Buy wall at $900 looks really secure so I can get a good night's sleep. Of course when I woke up today it was already gone. And now we're back at 915...
150.
Post 4497145 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
Well I bought at Mtgox $915 last night thinking that 300 Buy wall at $900 looks really secure so I can get a good night's sleep. Of course when I woke up today it was already gone. And now we're back at 915...
either you manipulate the walls or the walls manipulate you
300 coins is not a wall anyway. That is just someone's buy order. 2,000+ coins is a wall.
I haven't seen a 2000+ coins a wall on Mtgox in quite awhile.
151.
Post 4497312 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.55h):
Looks like another dinosaur.
Feel free to draw one in.
152.
Post 4535968 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
At this point, I don't think the act of merchants accepting BTC through a 3rd party BTC processor will bring the price up even if it's Amazon. If they put it on their homepage they accept BTC or they accept BTC without a 3rd party processor, that will bring the price up! Even overstock.com website, it doesn't link to any BTC education site.
153.
Post 4551286 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
Because it's the first entry for Major sports. The rest will follow. I think it's a really big deal.
Here's my reaction.
NEW MERCHANT -
THEN I SEE COINBASE OR BITPAY -
154.
Post 4555690 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
Confirmed bad news = confirmed triangle breakdown.
too bad there is no bad news.. FBI private auctioning the bitcoin is a good thing.. we don't have to worry about them having a horde in the future
well it all depends if they end up selling to an investor or a trader.
if we confirm a trader.. lets pre dump
fuck that guy lol
confirm a hodler, CCMF
can you tell what I am
Isn't that what we're doing right now? pre dumping?
155.
Post 4555741 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
What is up with the sell off? It is not like the FBI is auctioning off the coins tomorrow.
Plus there is some really good news out there today too with a major sports team taking BTC.
Sometimes I just don't get it. Actually, I NEVER get it.
Yes, but they announced it. So now the price will reflect post-sale.
Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.
156.
Post 4555885 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
What is up with the sell off? It is not like the FBI is auctioning off the coins tomorrow.
Plus there is some really good news out there today too with a major sports team taking BTC.
Sometimes I just don't get it. Actually, I NEVER get it.
Yes, but they announced it. So now the price will reflect post-sale.
Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.
Hmm. I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November. So maybe this little panic sell off is a good sign?
Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.
157.
Post 4556140 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
What is up with the sell off? It is not like the FBI is auctioning off the coins tomorrow.
Plus there is some really good news out there today too with a major sports team taking BTC.
Sometimes I just don't get it. Actually, I NEVER get it.
Yes, but they announced it. So now the price will reflect post-sale.
Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.
Hmm. I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November. So maybe this little panic sell off is a good sign?
Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.
It's not complicated. It will be handled like this;
Do you agree to pay Overstock.com $100
You click yes you are agreeing to pay them $100 and your payment method is bitcoin
Your $100 will be refunded via bitcoin, whether that equals 1B or 0.1B
Bitcoin is not the currency but rather the method of transferring funds
What if that's 10B and you only paid 1B? Do you see the problem now?
158.
Post 4556330 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
What is up with the sell off? It is not like the FBI is auctioning off the coins tomorrow.
Plus there is some really good news out there today too with a major sports team taking BTC.
Sometimes I just don't get it. Actually, I NEVER get it.
Yes, but they announced it. So now the price will reflect post-sale.
Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.
Hmm. I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November. So maybe this little panic sell off is a good sign?
Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.
It's not complicated. It will be handled like this;
Do you agree to pay Overstock.com $100
You click yes you are agreeing to pay them $100 and your payment method is bitcoin
Your $100 will be refunded via bitcoin, whether that equals 1B or 0.1B
Bitcoin is not the currency but rather the method of transferring funds
I accidentally paid twice last week using some coin (0.067) from Gox. I hit "confirm" twice and then the payment was sent twice. Overstock.com sent me back 0.07 on Monday. It took a couple days and because of the change in price I actually got a little more sent back.
It worked out well this time. Of course, if the price had shot up I could have lost some too but that is the way it goes.
That's the point I'm trying to make. Overstock.com policy is 30 days. If BTC price goes down in 30 days, there are going to be people who will refund and rebuy. Will that be fraud or policy?
159.
Post 4556875 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
That's the point I'm trying to make. Overstock.com policy is 30 days. If BTC price goes down in 30 days, there are going to be people who will refund and rebuy. Will that be fraud or policy?
Good point, the solution store credit or refund in XBT after you pay a restocking fee.
Ok so my first point wasn't too good as I realized BTC received will be proportional to price. My bad.
What about returns though? Price locked in when you they receive it and process it. But you don't know when that is unless it's the tracking delivery time. I'll have to look into their return policy to see if there's any problems with it.
160.
Post 4556926 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
The only thing that worries me is the possibility of a straight shot to the moon.
It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.
I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...
I don't understand this mentality. A jump to any sort of high level of price is going to take days and weeks and months. Why not ride it up when it's going up and down when it's going down? There's always time to jump back in.
If you don't have the time or desire to pay close attention to the markets, then buy and hodl can be a decent strategy. I don't know, it just makes me nervous going to sleep with a trade open.
I thought like you once, and waiting to buy back in after Bitcoin went north of $10, I knew I was going to nail this market.
But do you think your problem was selling in the first place or that you misjudged the market and should have bought back in sooner? You would have had some great opportunities to buy back in after that rise and crash.
There are some pretty awesome benefits of trading vs hodling though. Like for instance in that bloody day after the BTC-China news, I increased my account 60%. Hodlers did not. I'm all for hodling in a raging bull market
Catching part a crash is easy. See the news, react to it. Wait 10 minutes to 2 hours. Buy back.
Trading the market right now? Different story. You so sure we are in a bear market? Absolutely positive? Ok, if you are then you are smarter than me.
Sure it looks heavy, but every day it doesn't go down is a day I would be worried if I was you.
Anybody who thinks they have a read on this market better have access to some specific data --> actual cash inflow/outflow into and out of all exchanges, actual volume of off exchange purchases, prototypes and development stages of current bitcoin eco-system products and apps, pending announcements from large retailers, specific EFT approval status, miner sentiment, just to name a few.
If you don't have access to these data points, then you are GUESSING right now not trading. And if you are trading the swings you better have trailing stops.
I'm not a bear at all. Long term I'm bullish but it doesn't matter because I just trade whatever is happening at the time. Right now we're looking at this big sloppy symmetrical triangle breaking out in a downward direction. If that doesn't materialize, I'm sitting 100% fiat until something materializes up or down. I actually closed my previous trade and am sitting on my hands until there's some confirmation which looks like it'll take at least a few more hours if it happens at all.
The great thing about trading is that you don't have to play all the time. Locking in small gains and more importantly not losing money are the way to go in my opinion. edit:
This is just how my mind works. Don't mean to be down on anyone's strategy! Lots of opportunity for us all to make good money in this crazy market.
very wize
but you really
have to take a sizeable position on the long term and not play with that.
trading is fun and games
taking the bitcoin bet is a once in a life time opportunity
I think of HODLing BTC like the Deal or no Deal game show. Except the banker doesn't try to rip you off.
161.
Post 4557026 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
That's the point I'm trying to make. Overstock.com policy is 30 days. If BTC price goes down in 30 days, there are going to be people who will refund and rebuy. Will that be fraud or policy?
Good point, the solution store credit or refund in XBT after you pay a restocking fee.
Ok so my first point wasn't too good as I realized BTC received will be proportional to price. My bad.
What about returns though? Price locked in when you they receive it and process it. But you don't know when that is unless it's the tracking delivery time. I'll have to look into their return policy to see if there's any problems with it.
To my knowledge, all returns have been done in BTC. Rather outstanding I must say.
What this tells me is that either they are serious about trying to keep new customers, or they are keeping a portion of their bicoin sales internal (or at least on account at coinbase)
I get the feeling that the BTC refunds are just a marketing ploy to try to hook new customers. I think the situation would change if you see bitcoin going up by $50 per day...
Tender in = Tender out otherwise it's money laundering or leads to other problems like using overstock as an exchange. The difference is the BTC you receive is not the same as you used to pay which is completely different then any other payment system. But then again other payments don't have such fluctuation. I don't think Overstock is keeping any BTC. Coinbase is issuing BTC refunds, but Overstock deals with refund disputes rather then Coinbase mediating. However Coinbase will close a merchant's account if too many complaints I believe. There's doesn't appear to be any volatility risk on the merchant or Coinbase end since all BTC is resold instantly, but I'll have to look more closely at their policies.
162.
Post 4557829 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
wow.... anyone see that mtgox $900 wall got pulled or some glitches?
there was a sale bellow $900 when the wall wasnt even touched
PS : its 2.10 btc at $898..... how the fck that happened? None of the bids above $900 and at $900 was even touched
Yea I just got back. How did that happen? I through the wall was lifted and then put back just for that sell order.
163.
Post 4557993 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
Well, I'm officially tired of trying to draw support lines this week.
why we barely crossed the 2 that exist.. I just wish we'd go to 870 again already...
side note or back track...the wall at 900 is just being pulled when it has a chance to be bitten..
It's 48 BTC away. I think it's real otherwise it would be pulled already.
164.
Post 4558045 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
So who here wants the Mtgox 900 wall to be chewed up and who wants it to stay?
I say Chew it up!
165.
Post 4569261 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
Couple brave souls on Mtgox trying to reverse the trend. Let's see if it catches.
Looks like the entire night was reversed in 20 minutes.
166.
Post 4569492 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
Couple brave souls on Mtgox trying to reverse the trend. Let's see if it catches.
Looks like the entire night was reversed in 20 minutes.
I'm struggling not to short this bump up really heavily. Seems like it's too easy.
HA!
I would be reluctant since Huobi hasn't passed 4.800 yet. But there are some crazy dumpers in between. Might be possible to catch 1 of them. Good luck!
167.
Post 4569995 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
On other news:
eBay UK to Allow Sale of Virtual Currency from 10th February[/size]
Emily Spaven (@emilyspaven) | Published on January 16, 2014 at 21:36 GMT | Companies, Merchants, News
ebay
eBay is launching a dedicated Virtual Currency category on eBay Classifieds in the UK on 10th February.
The Classified Ads category will allow for the sale of all types of digital currency, including bitcoin and litecoin, eBay representatives have confirmed.
eBay Classifieds, which lists posts throughout the site, serves as the site’s answer to Craigslist. eBay provides the free platform for local buyers and sellers to connect, but does not participate in the transactions.
http://www.coindesk.com/ebay-uk-virtual-currency-february/I think that kills localbitcoins with their 1% fees
Unless eBay has seller protection, no one's going to care.
168.
Post 4570748 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
There is an
overstock of coins right now.
It's going to be interesting to find out if overstock are able to hedge against the volatility.
If they are able to, then maybe there's hope for a larger adoption of bitcoin.
If not, and they end up with a significant loss, instead of the small gains they expected, the signal will be bearish.
You are aware they are selling their coins, right?
They ought to. They have to pay their suppliers with fiat money; what else could they do? I strongly believe though that they don't give up all their income in btc... It's not wise, nor profitable.
Bitpay gets the coins, Overstock gets the lower transaction cost.
And Bitpay they are better suited to manage the risk of hodling or dupming.
Wait for the volume, don't buy until you see the whites of their eyes. (or at least until after my limit orders all hit)
Yes. That's practically every major retailer so far. I wonder what the biggest retailer to outright accept BTC without a payment processor. Anyone know?
169.
Post 4571399 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
A couple of corrective points:
1. Overstock.
They transfer into fiat immediately - probably don't even handle the BTC at all. So this has little market effect if any.
Also - they took, what 130,000 USD ish on the first day, because of all the hype. A fair percentage of that was Goat. I doubt this has continued into anything remotely significant to the overall BTC market yet. This is not relevant to the market price at the moment at all.
2. British VAT.
IMO, this will not be applied to coins, but to exchange fees. It will not be significant - if applied to coins. No one would trade in the UK at all, which is not HMRC's intention at all. This has been misinterpreted negatively here.
3. Fed selling SR stash.
As I said before, this will be a private auction at below market price, probably in tranches. It will likely go to large investment companies, who will only have an interest in a HIGHER price if they are successful bidders. If they dump, they will lose out, they will be in for investment reasons for the mid-term at least.
So - please can we all think properly and carefully about interpretation of news?
1. So BTC is sold immediately too. Maybe dark sale. Maybe not. Question is do the Overstock buyers buy back the BTC immediately? I'm guessing the answer is No. I'm going to stand by theory that 3rd party payment processors do not help BTC price.
3. They announced it. That was the problem. If they announce the final sale, that might also lower the price.
No one cares what you or I think. It's what the market as a whole thinks.
170.
Post 4571556 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
I thought too much shorting hurt the price in the long run?
171.
Post 4572138 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.
Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.
172.
Post 4572306 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
I would realy laugh, if after selloffs and rebuys in the western exchanges (for nothing), china wakes up and starts to sell hard.
Massive Mtgox Support wall of 661 @ $875. Probably fake but we'll see. If Huobi hits 4.600 after waking up that wall will probably be destroyed instantly.
Fake or not. Walls or only hummocks.
But realy: I'm the only one on this board who does not know what will happen next ;-)
No you're not
Whoever knows what will happen next has better things to do than be on this board.
173.
Post 4573500 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
This pretty-much sucks... I've been waiting to buy in since Dec 17th when it hit $455 on Gox. I think we are still in the hysteria from the last price jump. So long as nothing significant is announced, interest will fade again for a short time. At least, that is what I am hoping.
I agree. Dang you supporters!
174.
Post 4576091 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.56h):
why so silent
The bears have nothing to say. They are going back to hibernation.
Yes... until the next FUD...
175.
Post 4607343 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Without -at least basic- legal regulation, expect nothing more than "good will" from ebay/Paypal. They're not fools. They know what's at stake. They hesitate only about the regulating part. I expect more from the Winklevoss ETF, which will be (at very best) online at about a couple of weeks from now. After that forget China. Big boys will take over...
Remember: Only the beginning is difficult.
I'm more curious whether they will set up escrow in their virtual auction category. If they do that and waive all chargeback fees against the seller, we could have a real awesome exchange. Somehow I doubt it though.
176.
Post 4608655 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
I understand that eBay will allow buy/sell cryptocoins ads, but will not use Bitcoin themselves.
How much will it cost to place an ad in that section?
That Classified Ads section will probably be a
very slow and
very inefficient cryptocoin exchange.
Is there trade in other commodities going through eBay?
[edited for typos]
People have been selling bitcoin there already, I know someone who bought some there as Xmas presents (& yes they were at a ridiculous price, but quick and easy).
Buying is quick and easy if you want to pay more. Selling is not. Canceled auctions, Canceled PayPal accounts, chargebacks. It's not much fun that's why there's a huge premium on every auction there.
177.
Post 4624807 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
You might consider that this Bot is probably buying his own coins/asks. Since the asks gets pushed lower every time a normal user(if there should be any left there) are putting a ask order in between. Without this Bot volume would go down about 80% more. Putting Gox in a league with Cryptsy - Kraken, lol.
I still trade on Gox among others I know, it's been a pretty flawless service besides April.
100% to increase my btc holdings mind you, but I think there's still a few who have faith.
Besides, with a 10% increase in price, if you don't mind waiting a few weeks (if you think the price will slowly decline down for example) it's a smart move to buy on another exchange and withdraw from Gox, easy arbitrage.
Huobi is looking dangerous..
Mtgox has no verified USD withdrawals since Sept 2013. Even EU withdrawals is like once a month for a small amount.
178.
Post 4637256 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
so gox bux is becoming worthless, $150 between gox and all exchanges.... and most of the action is happening there...
Pretty much. Willy is dominating the market. How long is this going to last? Anyone know? How long did it last last time?
179.
Post 4637485 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
so gox bux is becoming worthless, $150 between gox and all exchanges.... and most of the action is happening there...
Pretty much. Willy is dominating the market. How long is this going to last? Anyone know? How long did it last last time?
somebody got an ass load of fiat they trying to get out. That should tell you something. i wonder if gox shuts it's doors if the price will move much on the other exchanges. many see it coming already, apparently.
Well I suppose this bot is cheaper then a 8000 market order.
180.
Post 4652425 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Okay. There is Willy on the side of Gox, buying all the coins and even does not care for nothing more than buying no matter which price. That's one reason for the existing big price differences between the exchanges.
But to ask another time:
What the fuck is going on with stamp?
There are popping up of sell offers for hundreds of Coins, even below the price of BTC-E and Huobi, what is really abnormal. And it seems like there is no motivation to close the gap to BTC-E and Huobi.
Any idea?
Anyone have historical trade data on Mtgox for the last month? I'm especially interested in Willy's behavior from the start of Christmas and the exact time he restarted this time around.
181.
Post 4655693 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
*psst* Willy, you there?
182.
Post 4655729 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Willy is dead.
Mass Panic Sell in 3 - 2 - 1!
183.
Post 4655790 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Willy died, and at the same time, I got 502 Bad Gateway from bitcointalk. So, the only possible conclusion is: Willy is run by bitcointalk.org.
Come on there's a nice succellent, delicious buy order at 182 buy order @ $963.... no slippage!
184.
Post 4655837 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Come on. Sell already. I freed Willy!
185.
Post 4656449 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
Did Willy went bed?
I have been waiting for her for 20 minutes
Sir, looks like you're sleeping alone tonight.
186.
Post 4656499 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
I was just thinking that
http://trading.i286.org/ needs a chatroom. The trolling would be much better than BTC-E.
187.
Post 4656719 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.57h):
need confirmation for sure. This would be huge.
What's better than going to the Super Bowl? Paying for your tickets with BTC to go to the Super Bowl!
188.
Post 4673411 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Buy to Mtgox $955? Because of Google? Come on now....
189.
Post 4674388 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Buy to Mtgox $955? Because of Google? Come on now....
are you shotr?
No, but I'm 95% fiat haha
190.
Post 4675548 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
So far, this is a "down" day, and Bitcoin hasn't had more than three down days in a row since Sept. 2013. This is the third down day.
Maybe BTC is about to establish another new record?
if it break the 3 days pattern i am afraid the panic is going to be huge..
What's the definition of a "down" day?
191.
Post 4690634 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
There's always 2 things to watch for when a new merchant jumps on the bandwagon:
1. Are they using a 3rd party processor?
2. Are they advertising it on their homepage? Now the Tigerdirect.com one is absolutely huge. But is Tigerdirect.com get less traffic than Overstock? But if you don't take the time to understand the refund policies, you may just stick with credit card if you're not interested in BTC.
192.
Post 4691066 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Waiting to see goats receipt from tigerdirect.com
oh lol:)
it really does seem like what they should have done in 2011.
wqho buys GPUs to mine BTC? Also these AMD cards are crazy high? They are like $200 than the ones I bought in Nov and that was when the cards where new.
It's hard for me to buying something if its 50% mark up :/
Not to mention they should "list the odds of actually mining a block using their AMD cards." Misleading...
193.
Post 4691970 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
There's always 2 things to watch for when a new merchant jumps on the bandwagon:
1. Are they using a 3rd party processor?
2. Are they advertising it on their homepage? Now the Tigerdirect.com one is absolutely huge. But is Tigerdirect.com get less traffic than Overstock? But if you don't take the time to understand the refund policies, you may just stick with credit card if you're not interested in BTC.
Frankly don't see why any major merchant would NOT use 3rd party processor right now? They can't pay their suppliers with BTC, and unless they're a bank they're not in the business of currency exchange. It's not their core business so why would they take on additional liability/risk of holding on to BTC? That wouldn't fly well with stock holders either.
That would be the typical business way of thinking. But I'm hoping there are some businesses who will think outside of the box and take that risk eventually. Find suppliers who are also willing to take BTC. Then use that as a marketing strategy for themselves and BTC. Of course merchants accepting BTC at the POS is still a step in the right direction.
194.
Post 4698500 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Anyone know if the mtgox volume on i286 (1460) is correct or bitcoin chart (1691)?
195.
Post 4698590 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Anyone know if the mtgox volume on i286 (1460) is correct or bitcoin chart (1691)?
both are correct
they probably just have slightly different timeframes
I was always under the impression "Volume" on both sites was calculated as the last 24 hours adjusted in real time which should be the same. I expect i286 to refresh earlier than bitcoin charts, but not off by 200. Hmm...
196.
Post 4699988 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
At this rate, Mtgox is going to reach ATH when all the other exchanges will still be at 1000.
197.
Post 4700376 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
What is wrong with BTC China?
Edit: Oh there we go. Must be refreshing late.
Still at 4814 though.
198.
Post 4701024 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Come on Mtgox catch up!!!
199.
Post 4701154 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Huobi under 4.7!
200.
Post 4702720 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Gox really needs to get with the program.
Yea really. F*CK You Gox! And all you assholes keeping the price 50 above the next closest exchange. Why do you guys keep buying at that stupid price and let it drop.
201.
Post 4703117 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
Still not clear to me which way the market is moving. Sold at Btc-e between 880-900 a couple of weeks back. Was hoping for 600s.
Still waiting for 600s.
Still waiting for Mtgox to break 900
202.
Post 4713198 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
What will be interesting to me is when Mtgox hits an ATH how will media perceive it? Will it start looking like $1250* (with an astericks) by it like it's been taking steroids or the public will eat it up as is. And if they don't understand the withdrawals problems would that be good for BTC in general just to receive that publicity? Will anyone here even care?
I can just see the interview:
Interviewer: So what does it feel like to be the person buying BTC ATH?
Guy: Was just trying take my BTC to another exchange and withdraw, Boss.
203.
Post 4718768 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
just use bitsimple.com easy easy easy...
Can you sell as much as you want there without moving the price?
What are the advantages of bitsimple? Looks like they're taking 4%.
204.
Post 4719544 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
just use bitsimple.com easy easy easy...
Can you sell as much as you want there without moving the price?
What are the advantages of bitsimple? Looks like they're taking 4%.
simple fast unlimited liquidity
Nice. Always good to have more competition, but I'm ok with slow and limit for 3%.
205.
Post 4722436 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.58h):
I don't get it. Where's Willy getting his USD? The first time around he used $10 million. He's not selling back the BTC or the gap wouldn't have increased to $30. He'd have to be an idiot to deposit USD into his account. The only explanation is he has $10 million + USD in his account. That's ridiculous.
206.
Post 4744674 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Our soon-to-be-overlord Willy is back CCMF
all hail!
Most annoying bot ever.
207.
Post 4757509 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
What price did Willy stop buying? Anyone know?
208.
Post 4759001 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Mtgox dump down to 980. Looks like there's still faith in Mtgox after all!
209.
Post 4760644 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Anyone from Mtgox or other exchanges at the Miami conference?
210.
Post 4760826 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Anyone from Mtgox or other exchanges at the Miami conference?
They lynch people in Florida. I sure hope nobody from Mt.Gox is there.
I would not be shocked if Mark was dumb enough to show up something like that he got his ass kicked or killed. Stealing 100 million dollars from people gets them pissed off. Lots of crazy people in this community.
However I bet Mark is smart enough he will never leave Japan. Odds are the US govt would get him first anyway for his dealings with drug money and money laundering. I would not be shocked to see him on the FBIs most wanted list one day soon.
Mark would send the fall guy of course! But if anyone did show up from Mtgox, I expect someone would be protesting with an enlarged screenshot of their withdrawal from June 2013 with "pending"
211.
Post 4783438 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Bitcoin Foundation should do some damage control. While their at it, kick out Karpeles' fat ass.
+1
Whoa now! Some of us still have assets in Mtgox. Please don't upset Karpeles until after all the withdrawals.
212.
Post 4786260 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
What's the word on the New York Hearings tomorrow? Is it supposed to be bearish or bullish?
213.
Post 4786490 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
Waiting for the 750-760 resistance @ stamp to break... then i´t will get ugly fast.
I think we´re looking at 500-600 in 12-18 hours.
Huobi isn't cooperating yet. We shall see in an hour.
214.
Post 4786551 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
And Gox doesn't feel the need to budge. Fuck Gox.
gox exchanges are blocked that's why.
Yupz. I'm taking this opportunity to get out of Mtgox. I was almost 100% Mtgox fiat. I was super pissed when it hit $1012 yesterday. But I might be ok with this. Fucking Willy. But now I can laugh if Willy comes back.
215.
Post 4786842 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
BTCE & Bitstamp drop to 720 to 730 while Gox doesn't even drop below 950. Goxed again.
216.
Post 4787085 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_11.59h):
389 Wall @ $940 on Mtgox. Let's see how long it holds.
217.
Post 4787399 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
I did it. Finally got rid of all my Mtgox fiat!!!
First step is down. Now to get the BTC out of that hell hole.
Hopefully this isn't going to be bittersweet (if pricr drops further).
218.
Post 4787769 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Come on Willy. Now would be the perfect time to show up.
219.
Post 4788619 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
805 in 12 hours or less
Oh finally, I can cheer on your bullish comments.
220.
Post 4788812 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
I'm waiting for the bull to say "we're still in stealth phase".
I live in a town of 12,000 where only about a dozen people have heard of it and I'm the only one who owns any. Yeah, we're still in the stealth phase.
yep, I live in New Zealand, and it seems the same. none of my friends know about it, Im trying desperately to teach them. I think it will take another 2 years before the mainstream will all go out there, download a wallet, and buy $100 of bitcoin each. those will be happy days.
Yes I told my brother to invest $500 when BTC was at $200 and he acted like it was monopoly money that people are pumping. "I don't trust it"...
LOL yeah I told my friends to buy at $120. then $230, then $400. then I stopped cos it was really a bit too risky. when the price hit $1040, they look to me eyes wide open and say. SO DO I BUY NOW?
?
NO.
It's too bad most of the newcomers will fall for the Mtgox Trap. "I successfully deposited in Mtgox. Is now a good time to buy?" SMH.
221.
Post 4789912 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Can someone please tell me how long does one wait for international transfer (withdrawal) from gox?
I believe its been reported to be somewhere between three days and over half a year.
You're more likely to see Bigfoot or the Loch Ness Monster then an international transfer from gox.
222.
Post 4790566 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Why's there dumping on Mtgox? BTCE and Bitstamp are looking healthy....
223.
Post 4790619 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Can someone please tell me how long does one wait for international transfer (withdrawal) from gox?
I believe its been reported to be somewhere between three days and over half a year.
You're more likely to see Bigfoot or the Loch Ness Monster then an international transfer from gox.
Care to elaborate more?
There hasn't been a confirmed international transfer to the US since June 2013. EU transfers are once a month and also has transfer problems. JPY is rather quickly but also heard of problems.
224.
Post 4790772 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
WTH 934!! That's not fair.
I don't understand.
225.
Post 4790956 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Why's there dumping on Mtgox? BTCE and Bitstamp are looking healthy....
Arbitrage, at least in my case. Bought on stamp, sold on gox.
Sure, but why now and not before when Willy was buying like crazy. I feel manipulated.
But what has changed? If you were so confident you could withdraw the money, I would have taken a loan long ago and just arbitraged completely. Some whale would have...
226.
Post 4791115 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Are you suggesting that Gox is still responding to TA?
Always was and still is.
I just don't understand what's changed on Mtgox. Mtogox only hit 939 when other exchanges were at 727. Now Mtgox hit 929 when other exchanges are at 750. Almost as if multiple people discovered they could arbitrage Mtgox at the same time successfully.
227.
Post 4807752 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Bank run = Buying BTC on Mtgox. As of yesterday, Mtgox had a 200 gap on other exchanges. Then it's dropped to 160 now. Why the sudden confidence in Mtgox if nothing's changed?
Ask sum doesn't show BTC just sitting in an account with no orders right?
228.
Post 4808337 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Bank run = Buying BTC on Mtgox. As of yesterday, Mtgox had a 200 gap on other exchanges. Then it's dropped to 160 now. Why the sudden confidence in Mtgox if nothing's changed?
I'd get tired of paying $200 over market for btc pretty quickly. I imagine whoever was taking the blockchain offramp either finished or got weary of having their pocket picked.
I am going to live in a world where it's like a countdown as gox and stamp come to a new origin point in which we set off for mercury from the moon.
That's why I left Mtgox. But in order to leave you have to increase the gap yourself or find a well-timed exit. Basically anyone who sold from 960 to 912 yesterday after the other 2 exchanges stopped dropping want to stay. But seeing as they orchestrated the dump, I can see why that is.
229.
Post 4808890 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
The response is corpus dilecti, which is the principle that there are two elements to every crime 1) the harm done by an actor and 2) the knowledge or willful ignorance that harm could be done by said action. This is why insanity is a defense. or in Mark's case, stupidity.
Mtgox AML Policy - Money and BTC come in but never go out.
Who in their right mind in transferring fiat to Gox now?
Unfortunately, many novice bitcoin owners will choose to sell their BTC at MtGOX because (a) it seems to offer the best price, by far; and (b) it is still cited in the news, blogs, and chart sites as one of the main exchanges.
billy is referring to depositing fiat in Mtgox which is much worse than selling your BTC on Mtgox.
230.
Post 4809151 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Who in their right mind in transferring fiat to Gox now?
Unfortunately, many novice bitcoin owners will choose to sell their BTC at MtGOX because (a) it seems to offer the best price, by far; and (b) it is still cited in the news, blogs, and chart sites as one of the main exchanges.
read more carefully. Many would-be arbitragers have sent bitcoin to gox, but nobody would send or is sending USD or fiat to Gox. All it takes is
ONE arbitrager to drain the entire
fiat account totals left on Gox by selling bitcoin there, transferring the fiat to another exchange, buying bitcoin on the other exchange at lower prices, transferring the bitcoin back to Gox to sell at higher prices, rinse and repeat. Everyone including me is buying bitcoin at whatever price we can get to transfer to another exchange and sell there to cut our losses.
What? You're saying someone would market order dump BTC at that outrageous price and get stuck with Mtgox fiat. If that was going to happen, it would have happened long ago. That doesn't make any sense. You can't transfer Mtgox fiat to another exchange easily. Mtgox has no problem getting fiat. It has BTC which they can sell.
231.
Post 4809337 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
Who in their right mind in transferring fiat to Gox now?
Unfortunately, many novice bitcoin owners will choose to sell their BTC at MtGOX because (a) it seems to offer the best price, by far; and (b) it is still cited in the news, blogs, and chart sites as one of the main exchanges.
read more carefully. Many would-be arbitragers have sent bitcoin to gox, but nobody would send or is sending USD or fiat to Gox. All it takes is
ONE arbitrager to drain the entire
fiat account totals left on Gox by selling bitcoin there, transferring the fiat to another exchange, buying bitcoin on the other exchange at lower prices, transferring the bitcoin back to Gox to sell at higher prices, rinse and repeat. Everyone including me is buying bitcoin at whatever price we can get to transfer to another exchange and sell there to cut our losses.
What? You're saying someone would market order dump BTC at that outrageous price and get stuck with Mtgox fiat. If that was going to happen, it would have happened long ago. That doesn't make any sense. You can't transfer Mtgox fiat to another exchange easily. Mtgox has no problem getting fiat. It has BTC which they can sell.
Geez, c'mon. Pay attention. I can't get fiat out of Gox. You can't get fiat out of Gox, but if ONE PERSON can get fiat out of Gox, they can get ALL the fiat out of Gox.
There are people who can get fiat out of Gox - Japanese. But it's not consistent enough to do any major arbitrage unless yesterday was what was happening.
232.
Post 4811158 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
There are people who can get fiat out of Gox - Japanese. But it's not consistent enough to do any major arbitrage unless yesterday was what was happening.
really? Name one. One fucking person who has had a successful fiat withdrawal this year. Cuz that bastard's got my money.
Here are some, but even JPY is way backed up (which is not normal):
I am a Japan resident. Posted a withdrawal on the 5th of January, was in my account 9 business days later.
You can find me in the epic bitching thread saying as much.
Requested 1/7 withdraw processed today 1/28. Waiting on a 1/10.
Thank you. That's informative. Perhaps it's the Japanese government who is facilitating this theft for the benefit of its citizens. If so, they are killing a golden goose.
And this guy.
I have decided to stop wasting time here, and let you all feed the panic instead. It is much more profitable. I managed more than 18% on my last round of arbitrage, all fees included. I wonder if I'll be able to get 25% on the next.
Please keep panicing! Never search for the true answers; make up your own! Don't ever believe it is possible to withdraw anything! Don't believe arbitrage is possible. Please keep spreading rumours that MtGox are broke, etc. I've never made this much money with no risk and almost no work! I'm in my last week of full time employment. From now on I will make a living out of the price difference between Panicstamp and MtGox, and my bot of course. You guys! I love you all for making this possible!
For all the other arbitragers who are making good money on spreading FUD here: I think you are a bit dishonest, and there is no need to. The clueless people here are fully capable of creating a panic for themselves.
OK, I can't resist revealing some information about JPY withdrawals. Last known processed is from January 5th. Reason for the delay is 9 days of closed banks (Mizuho) and this:
07:19 <@MagicalTux> jpy withdrawal delays come from the fact there are more withdrawals than deposit, so we need to convert usd/etc to jpy, then send it to our japanese bank, which takes time and has limits much stricter than other transfer methods
The daily limit is 100 million JPY, btw.
For everything else there is not much new. You will find the answers on previous pages in this thread.
233.
Post 4811257 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.00h):
234.
Post 4877105 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.02h):
Bitcoin may not be a Ponzi schema itself, but her is how you could run a Ponzi schema with bitcoin:
1, open an exchange.
2. Post yourself a bid at 10% over market price, say 1100$ instead of 1000$.
3. First client rushes in, sells 1 BTC. You credit his account with 1100$, warn him that withdrawal may take a couple weeks.
4. You sell that BTC at another exchange for 1000$.
5. Second client comes and sells 2 BTC. You credit him 2200$ and warn of delays.
6. You sell those two BTC for 2000$, now you have 3000$
7. You pay the first client 1100$, still have 1900$ left.
8. Third client comes in, sells 4 BTC, ...
You guess the rest. Like any Ponzi, it works while the clientele keeps expanding (but you may have to increase the spread, say 20%). Eventually you run pout of fresh clients and the thing collapses.
Which reminds me of an exchange faar faaar awaaaay....
Wouldn't it be easier to just fake the volume and set up automatic arbitrages on other exchanges? You won't make as much money, and the risk would be problems with other exchanges. Mtgox could easily be doing that to pay off debts. haha
235.
Post 4938856 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.02h):
BTC-E higer than Bitstamp first time since....
Edit: Darn well I think there was a brief moment....
236.
Post 4958345 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.02h):
Wow. Mtgox within $108 of Bitstamp.
237.
Post 4963442 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
lol lack thereof btc withdrawal = goxbux revival 800 coins sold just now or so.
Mtgox is back to $100 above Bitstamp and BTC-E with that last dump.
238.
Post 4965210 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
I don't see the point of the Mtgox dump.
The chances of withdrawing your BTC successfully are still higher than fiat withdrawals.
239.
Post 4966015 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
Mtgox $825 wall of 200 was just eaten alive by a 500 dump...
Whoever can withdraw BTC on Mtgox is going to make some major $$$$$
240.
Post 4966318 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
How come there's only $50 difference between gox and stamp? Been around $200 diff for so long now
Not only are Gox bux worth less than fed bux, but now gox btc is worth less than blockchain btc.
So diff closes.
Yes, but what changed today? From what I've gathered it's been useless for quite some time now.
I finally got my USD withdrawal and been arbitraging with everyone else.
241.
Post 4966575 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
I finally got my USD withdrawal and been arbitraging with everyone else.
Did you actually get USD for Gox today?
The reasons I'm doubtful of the "working Gox arbitrage" theory is (a) the drop was precipitated by a large market sell order on BitSamp (JorgeStoffi confirmed this several pages back), and (b) would we not expect to see a rise in the price on the non-Gox exchanges caused by people re-buying the coins they're selling on Gox?
I'm just fucking with you guys!
242.
Post 4967678 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
Mtgox - Wow!!! Lots of Pumps and lots of Dumps! At least lots of volume!
243.
Post 4985024 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
What does bitcoin days destroyed mean?
244.
Post 4990857 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
Holding and buying!!!
That's the spirit!!
Holding not buying. No fiat!
245.
Post 4991158 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.03h):
btce higher than Mtgox!
for a brief moment.
246.
Post 5168838 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.10h):
[ speculators ] provide liquidity and absorb excess risk that average investors are not willing to take. They exist in every market. I don't see it as a negative.
I do not intend the term as negative. But the use of bitcoins for speculation or store of value is a side effect that is not strictly necessary for its goal (cheap safe etc. payment via internet) and may be a an obstacle to it.
I have yet to see a convincing model (with numbers) of the bitcoin economy in the bright future; much less how we can get from here to there without being steamrolled along the way by banks, governments, and other competitors like Apple and PayPal.
(I read somewhere that PayPal is already blocking any payment related to bitcoin.)The fast increase in value, for example, seems to have attracted a lot of undesriable players (greedy speculators, shady investors, incompetent businessmen, scammers...) which are already harming the project's image.
You are allowed to sell virtual currency on eBay Classifieds now. No auction yet. So in this format it's safe to assume they will be allowing PayPal payment. No idea how this will be enforced. Of course accepting PayPal has its own risks.
247.
Post 5174158 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.10h):
What is really bizarre in all this is that holders of GoxBTC can currently exchange them for realBTC at 0.78 at bitconbuilder.com, yet they are selling them at < .5 of stamp price. They could sell their goxbtc for realbtc, sell those on a reliable exchange, and get more $ than selling one gox, and not have to worry about insolbvency or waiting months for withdrawals.
How does this site work?
248.
Post 5252777 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Whoever survives the Gox massacare has just quuintupled their BTC if they don't die of a heart attack first.
249.
Post 5252930 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Whoever survives the Gox massacare has just quuintupled their BTC if they don't die of a heart attack first.
If they sold at the ATH they'd have 9x (and climbing) as many BTC right now.
I don't know if I should be jealous or happy. Depends how this all plays out.
I was able to get 95% of my BTC out of Gox at $960. My last smallest transaction failed. I think I may have been one of the very last people to successfully make it out of there.
250.
Post 5253048 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Whoever survives the Gox massacare has just quuintupled their BTC if they don't die of a heart attack first.
If they sold at the ATH they'd have 9x (and climbing) as many BTC right now.
I don't know if I should be jealous or happy. Depends how this all plays out.
I was able to get 95% of my BTC out of Gox at $960. My last smallest transaction failed. I think I may have been one of the very last people to successfully make it out of there.
Because you had insider information.
Look at your rank, Mr. Senior Member.
You were apart of this scheme from day one.
Unfortunately, I wasn't smart enough to sell as soon as I got it out. :/ Still hodling....
251.
Post 5253131 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Everyone does realize that if Gox is solvent they really don't care how low their price goes?
I'm wondering how much Mtgox Fiat is sitting on the sideslines. It must be a ridiculous number....
252.
Post 5253203 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Everyone does realize that if Gox is solvent they really don't care how low their price goes?
They obviously don't give a fuck or they would have halted trading.
20,000 volume in the last hour and they all made Gox $8 * 20K so that's $160K USD for Gox. No that can't be right is it assuming the majority is the 0.05% fee.
Edit: Decimal in wrong place. It's 16K haha
Scared me.
253.
Post 5253249 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
20,000 volume in the last hour and they all made Gox $8 * 20K so that's $160K USD for Gox. No that can't be right is it assuming the majority is the 0.05% fee.
Large players have much, much lower trading fees.
Down to 0.02% but I miscalculated. It's $16K.
254.
Post 5253294 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
probably alot of hating on karpeles now so im making a new meme to see the other side
depressed mark karpeles meme!
That reminds is that Coinlab lawsuit still going on or has that been settled?
255.
Post 5253308 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
I'd like to thank BTC-E and Bitstamp for staying classy!
256.
Post 5253387 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
Anyone buying on Bitcoinbuilder.com? price seems to be hovering at .5
If you trade your Mtgox BTC to Bitcoinbuilder and Mtgox declares bankruptcy, what happens? Briefly looked over the website and found nothing.
257.
Post 5253488 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
If you trade your Mtgox BTC to Bitcoinbuilder and Mtgox declares bankruptcy, what happens? Briefly looked over the website and found nothing.
I would assume they would return them to the actual owners. Not that it would matter much...
Mtgox BTC would be $0, so Josh and all the people who fulfilled buy orders would be screwed. But would Josh fulfill his transactions to those who had successful Sell Orders on his site? That's the real question.
258.
Post 5253527 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
They don't really have coins in Gox, do they? It's the only scenario that makes sense. Which is more likely, from a logistical standpoint; Gox enables BTC withdrawals, or Gox enables USD withdrawals? I think most people would answer BTC withdrawals (in the absence of anything shady going on). So.... If you had one or the other stuck in there, which asset would you roll the dice on? The huge sells down to $13X, or whatever it is now, would indicate that the majority feel it's more likely that they will get USD out of Gox in the future. What? How could anyone believe that? (in the absence of some other knowledge).
The prices being 25% of what they are on other exchanges would suggest that it's a 4:1 majority who feel this way. That's just nuts. If they are insolvent, you aren't getting either (so why trade for the depreciated asset?), and if it's really just a technical glitch, that every other BTC exchange in the world has already fixed, then the expectation would be that Gox should eventually stumble upon the fix as well. Both of these scenarios would lead me to hold BTC, not Goxbux, were I forced to make that choice. Gox has been working to find a bank to process withdrawals for months with no success, all the while they are becoming a less desirable business partner in the eyes of the world. The idea that USD is going to be the winning asset to hold there is the worst possible assumption.
So what am I suggesting? There are no BTC there. They are just moving numbers around inside a ledger for commission, in a desperate bid for solvency. Selling their fake BTC to anyone willing to pay anything, while halting withdrawals on the only known technical glitch which could affect them somehow. Curious they were the first to encounter and announce this huge problem with bitcoin, and the last to sort it out. (Tongue firmly in cheek)
So I'm becoming reasonably certain that insolvency is the real issue, but it's hard to know how deep in it they are. If it's just a few thousand BTC, perhaps this stunt will close the gap. They buy back the BTC they owe on other exchanges or OTC with all the commission they took selling fake coins, and limit withdrawals exactly right to slowly climb back into the black, and nobody ever knows how close they came to collapse. But if it's an impossibly wide gap, they waited too long, and no stunt is going to close it, what are they doing right now? Maybe they are trying to work out a deal with a large BTC holder to cover their position until they can right the ship in exchange for part of the commissions. I can't think of any other good way out of it.
The problem is that MtGox PR department has been terrible up to this point. Otherwise I'm guessing the panic wouldn't be as crazy. And one of the theories is it's easier to sue based on a $$$ value rather than amount of BTC value.
259.
Post 5253584 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
If you trade your Mtgox BTC to Bitcoinbuilder and Mtgox declares bankruptcy, what happens? Briefly looked over the website and found nothing.
I would assume they would return them to the actual owners. Not that it would matter much...
Mtgox BTC would be $0, so Josh and all the people who fulfilled buy orders would be screwed. But would Josh fulfill his transactions to those who had successful Sell Orders on his site? That's the real question.
Josh is a market maker, he doesn't own any Gox-btc apart from the 2% fee on buy orders. Buyers of Gox-btc do. They reap the reward or take the hit.
I'm not 100% sure how Bitcoin Builder works. But I thought you sent your Mtgox BTC to Josh and Josh also holds all the real BTC. The Mtgox BTC and real BTC stays with him until you withdraw like an exchange.
260.
Post 5253658 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
But I thought you sent your Mtgox BTC to Josh and Josh also holds all the real BTC. The Mtgox BTC and real BTC stays with him until you withdraw like an exchange.
I think you're right, after reading his FAQ. I do not understand Gox (never having used it) so it is not surprising that I do not understand how he can hold the goxcoin. Do they have a c2c xfer system?
I think I understand this now. Basically if Mtgox dies, he shouldn't have to take any of the responsibility, but all that fake Mtgox BTC will be with him when it does goes down (unless buyer asked for it to be delivered to their Mtgox account.) Even though it shouldn't matter since it's all gone and he would have delivered it if he had the opportunity, there may still be a legal risk to him. :/
Basically he found a way to send Mtgox BTC to verified accounts. I'm not even sure if you can get your Mtgox BTC back if you don't have a verified Mtgox account.
261.
Post 5253873 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
But I thought you sent your Mtgox BTC to Josh and Josh also holds all the real BTC. The Mtgox BTC and real BTC stays with him until you withdraw like an exchange.
I think you're right, after reading his FAQ. I do not understand Gox (never having used it) so it is not surprising that I do not understand how he can hold the goxcoin. Do they have a c2c xfer system?
I think I understand this now. Basically if Mtgox dies, he shouldn't have to take any of the responsibility, but all that fake Mtgox BTC will be with him when it does goes down (unless buyer asked for it to be delivered to their Mtgox account.) Even though it shouldn't matter since it's all gone and he would have delivered it if he had the possibility, there may still be a legal risk to him. :/
Basically he found a way to send Mtgox BTC to verified accounts. I'm not even sure if you can get your Mtgox BTC back if you don't have a verified Mtgox account.
Everyone can send Gox-Btc from one mtgox account to another account ,internally. This is still still working.
Mtgox being insolvent, Josh can instantly send the gox-coin to the respective gox addresses , unless the website goes down.
Yes. I guess it wouldn't matter if Josh had the Mtgox coins or you did if the website goes down. It will technically be worth $0.
262.
Post 5253895 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.13h):
You know when the price on Gox reaches zero that they will not owe anything to anyone?
LOL. Hadn't thought of that.
Except everyone with fiat. Like that panic sell going on right now?
263.
Post 5268149 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.14h):
3128 Wall @ $110!
264.
Post 5271071 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.14h):
Correct. A linked credit card will give you an instant purchase limit of $100, and this can be raised to $1000 after tier 2 verification.
OK, thanks everyone for your help.
If you didn't know it will take you a month to get up to speed there, if I recall. I think you're restricted to 1-2 BTC a day until 30 days goes by. It is a part of verification to simply wait.
Edit: maybe it's 10?
I guess I wasn't very informative with my question. The back story is that I have sold many through CoinBase since Nov 2013, and have been verified through my bank account. I just wasn't sure of the exact policy regarding buying coins through credit card or just through the linked bank account.
They definitely don't want you using your credit card there. It's pretty much a back up if your bank account fails. Charging your credit card is pretty much their last resort. If that happens, I'm going to assume you won't be allowed to use Coinbase services for much longer.
265.
Post 5271288 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.14h):
If you didn't know it will take you a month to get up to speed there, if I recall. I think you're restricted to 1-2 BTC a day until 30 days goes by. It is a part of verification to simply wait.
Edit: maybe it's 10?
I guess I wasn't very informative with my question. The back story is that I have sold many through CoinBase since Nov 2013, and have been verified through my bank account. I just wasn't sure of the exact policy regarding buying coins through credit card or just through the linked bank account.
They definitely don't want you using your credit card there. It's pretty much a back up if your bank account fails. Charging your credit card is pretty much their last resort. If that happens, I'm going to assume you won't be allowed to use Coinbase services for much longer.
So, the credit card is not a second form of identification or a second level of "security/authentication." Meanwhile I changed my cell phone number recently and forgot to change 2FA, all of this is moot for now.
It works as a form of ID - security/authentication too. "Kind of like" PayPal. PayPal wants you to use your bank account to pay, but you have the option of paying by credit card. Coinbase has to make an exchange purchase asap when you confirm your BTC purchase so they really need to secure your funds asap. They don't know how much money is in your bank account. So if that fails credit card is next. They're really taking a big risk on you... well ... offset by there 1% premiums and slightly higher BTC price.
I do believe you're correct that Coinbase is connected to your mobile number. Not sure what it takes to change it. Yes, changing phone number is a very dangerous thing to do these days.
266.
Post 5275327 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
We have ignition over at MtSux. The western exchanges are believers.
Bulltrap?
267.
Post 5275361 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
Volume is at 121,000!
268.
Post 5289287 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
Who the hell is deleting so many posts from this thread?
So that's what's happening. I was trying to find the time of the last Mtgox announcement and couldn't find it on multiple threads. I had to use google search to find it on Bitcointalk again.
269.
Post 5294077 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
Just one question:
You must admit that nobody can foresee the future with perfect clarity. In 2018, bitcoin could be a dominant world currency, it could be an academic curiosity of a past failed experiment, or it could be something in between. My question is how do you expect you'd feel if bitcoin is successful beyond all of our wildest hopes? Will you look back, shrug, and say "oh well"? Or will you be disappointed that some mental obstinance prevented you from hedging with 2 BTC just in case?
As I wrote in that long post, I
wish the success of the bitcoin project (providing an internet payment method that is safe etc.) So obviously I will be very happy if it succeeds.
But I presume that by "successful" you mean "1 bitcoin (not 1 dogecoin) will be worth a billion dollars". In that case I will probably feel a bit bad for not having bought one BTC today. Just as I feel a bit bad that I did not buy Apple or Google stock when it was cheap. Or Enron or Worldcom or OGX at the IPO, and then sold at the peak.
However, if I ever become convinced that bitcoin will succeed in that sense, I can always get a loan and buy one when the price gets to a million dollars. I don't think I will feel too bad for having made only a $999,000,000 profit, instead of a $999,999,000 profit.
That was my question. Joehal quoted me because he wanted to hear your answer too.
I thought your response was interesting because I've had friends say exactly the same thing. Basically: "they'll buy in in the future if it looks like it will be successful." But these are the same friends who wished they got in earlier! In fact, Jorge, even
you said you thought bitcoin was a good investment several years ago, if only you had known about it then.
It sounds like what you are saying is that bitcoin was a good investment in the past [at a lower price], and it may be a good investment in the future [at a higher price], but it is not a good investment now [even just 2 BTC as a hedge]. Is this correct?
....
It just hit me.
PREDICTION: JorgeStolfi buys a few bitcoins if we pass the all-time high and continue to move upwards in price.There must be a bunch of people like Jorge who are fascinated by bitcoin, feel they learned about it too late, realize that it
could go much higher, but are presently skeptical and feel it is a bad investment
now. The next growth spurt begins when we pass the previous all-time-high and these people buy in, realizing that bitcoin may have just become a good investment all of a sudden.
The price rise draws in media attention and more and more bandwagon jumpers hop on board. Jorge Stolfi is sitting pretty because he got in at the start, but people keep pilling in and pilling in. More smart people like Jorge hear about bitcoin from this media blitz, research it, and again feel that it is too late for them as obviously the "bubble is about to burst." One growth cycle later and another JorgeStolfi is born. Of course our current Jorge Stolfi is a wealthier man at this point. I don't think Jorge will ever buy. If it's successful, then the price is too high and he'll think it's overvalued. If price drops, then it's not a good investment. Now apply that to every price and situation and there's never a good time to buy for them.
270.
Post 5294225 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
I don't think Jorge will ever buy.
I don't think either. As I said before, I do not like gambling, even when the odds seem favorable.
When the odds seem favorable it's no longer gambling at least that's my definition. I know people who still insist 99% chance of winning is still gambling.
I don't think Jorge will ever buy. If it's successful, then the price is too high and he'll think it's overvalued. If price drops, then it's not a good investment. Now apply that to every price and situation and there's never a good time to buy for them.
That's what I thought until 10 minutes ago. But now I think I understand the dynamic better. Jorge
wants to believe. If we pass the previous all-time high, he will decide to buy a few coins, as the logic will suddenly make sense. It is people like him who become the impetus for the next growth spurt.
Few coins? Jorge could buy 0.001 right now. That's the beautify of BTC - infinitely divisible. I sold 0.02 to someone who knew nothing about BTC just because she heard about skyrocketing price. I told her to buy with caution but she kept saying it's only $10. (I gave her a discount at the time.) So yea...
271.
Post 5294704 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
Other exchanges be strong!!!! I beg you!!!!
272.
Post 5294720 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.15h):
So explain to me why people are selling at 100 when they could sell for 200-250$ on bitcoinbuilder?
They just don't know...?
Some don't know and others may not trust bitcoinbuilder.
273.
Post 5306051 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
Yeah, I hear that. I can't resist shorting a downtrend, though.
Limit shorts triggered at $614 and up but closed already, too much upside risk at the moment.
The correlation to Gox trips me out. On the last big drop, Gox dropped 65%, Bitstamp dropped 16%. We just saw > 200% rise on Gox ... and a 10% rise on Stamp. I think the correlation may continually weaken if/when Gox pushes upwards (e.g. after withdrawals are enabled). That, combined with Gox - Stamp/BTC-E/BFX arbitrage opportunity for the typical GOXasset holders (i.e. not just the limited pool of Bitcoin Builder arbitragers), tells me that those expecting to go to the moon after Gox enables withdrawals may be in for a rude awakening.
The only coin going to the moon after Gox enables BTC withdrawals is Mtgox BTC. The other exchanges will probably lag behind. Then the gap will increase just like before. I have no idea how BTC-E and Bitstamp will react.
274.
Post 5306379 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
It's funny how one moves on to ever crazier things to trade - that bitcoinbuilder site has some pretty hilarious and predictable swings right now. Owner is making a killing at 2%, approaching 9000 GoxBTC volume in 24h.
It was great idea and he is getting paid for it. Pretty well paid.
He's not getting rich, but 4% of 9000 is 360btc profit. Good for him.
He is out there for few days already and got well more than 1000 BTC. Few days more and he'll be rich.
Thought he was making 2% ....
275.
Post 5306690 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
I took my profits even before the DDOS hit. The rumour this rally is based on is bull fud and the market will be back close to what it was within 8 hours.
I sold a tiny bit myself, but I'm less confident than you are.
1. It's Sunday in Japan. Gox doesn't do anything on weekends.
2. Gmaxwell has said the transactions are just standard Gox dust sweeping transactions.
3. Gox is still today trying to spend immature coins and the transactions are failing as a result.
4. Although the people on this forum appear to be living in the mistaken belief that insolvencies are resolved in a number of weeks, they aren't. They grind out for years.
5. The only decent hope for a rally in the short term is other good news outweighing Gox. It's a Sunday. Major announcements don't get made on Sundays.
6. There is some hope for a good Neo announcement on Monday. Until then risks are to the downside.
Again, your big assumption is that Gox is insolvent. If you are wrong the rest of your list can be thrown out the window.
Wind - please explain to me why JPY withdrawals have a queue at least a month long.
Dude. Everyone wants an explanation for everything and when they can't get one they make up their own. I don't have an explanation for you. But your have nothing but pure speculation to suggest insolvency.
Unless you can get me direct access to Mark for 24 hours then I will not attempt to speculate.
You can. But that doesn't mean you are any closer to the truth than anyone else.
Well fiat withdrawal problems help increase the BTC price so I'll exclude that. But everyone sending Mtgox deposits, maybe some whale realized this and figured they would try and take advantage of the situation. Everyone is following for now...
276.
Post 5306787 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
It's funny how one moves on to ever crazier things to trade - that bitcoinbuilder site has some pretty hilarious and predictable swings right now. Owner is making a killing at 2%, approaching 9000 GoxBTC volume in 24h.
It was great idea and he is getting paid for it. Pretty well paid.
He's not getting rich, but 4% of 9000 is 360btc profit. Good for him.
He is out there for few days already and got well more than 1000 BTC. Few days more and he'll be rich.
Thought he was making 2% ....
from each side?
Anyway this is somewhere from 40.000 to 200.000 $ per day (2%/4%/gox price/stamp price,
) This is a lot... but he/she/they deserved it.
Good point. so 2% in Mtgox BTC and 2% in real BTC. Huge payday when Mtgox fixes BTC withdrawals for him. And the longer this goes, the more money BB makes. Conspiracy theory!
277.
Post 5307330 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
Really, smoothie? In the past few days, the following arbitrage opportunity has emerged: Send money to MtGox, buy up goxBTC, sell goxBTC at the going rate, liquidate the realBTC elsewhere => profit. If you can do it in a reasonable timeframe, then it's pretty good.
I just look at anyone sending fiat to Mtgox as an investment opportunity. I won't take part in it though until there are confirmed BTC withdrawals in which case it will probably be too late. Basically too risky for me.
278.
Post 5315087 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.16h):
I'd like to speculate on how long it will be before we start seeing the 6000 pages in this thread.
My feeling is this ascending triangle has to break soon, and then we can get back to the basic log-linear model that we've been following so far. This implies we will see 6000 in roughly 3 weeks.
Until this Mtgox thing is resolved, I wouldn't make that assumption. You think we'll hit 6000 if Mtgox announces they're gone?
279.
Post 5352360 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.18h):
Well dammit. I just got a bunch of Gox BTC from BB today. Luckily it crashed because I was about to put in a lot more.
280.
Post 5352390 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.18h):
Well dammit. I just got a much of Gox BTC from BB today. Luckily it crashed because I was about to put in a lot more.
it just went up 50%
Bitcoinland, it's just amazing
ps. wow, it actually went from 0.076 to 0.15 since Gox disappeared
Oh shit... maybe I should cut my losses.... dammit.... Decisions!
281.
Post 5352558 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I was actually buying BTC on BTC-E when I was refreshing this thread and saw that Mtgox was frozen. I had the price at a minimized window. lol Quickly market order sold all my BTC in BTC-E.. Hope that was the right decision.
282.
Post 5353244 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
Lol at that dude that transferred $50k into Gox a couple days ago...
Actually you can claim $50K as unauthorized or not credited and may be able to get it back. I got my money back from BTC-E that way.
283.
Post 5353343 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
Lol at that dude that transferred $50k into Gox a couple days ago...
Actually you can claim $50K as unauthorized or not credited and may be able to get it back. I got my money back from BTC-E that way.
How do u claim it as unauthorized?
That's easy your account was hacked and if you claim Mtgox had been stealing fiat... well it's grey area stuff.
284.
Post 5353573 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
BB is trading at 0.15
BTC each. Under this assumption, the lower Bitstamp falls, the higher Mt Gox value
BTC will go up!
285.
Post 5355728 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
is it not possible that gox coins do eventually get paid out? According to that leaked document the future plan is to pay everyone back after admitting the losses. Gox could come back now as one of the strongest and most reliable exchanges
It would have to....
If the article werent leaked, maybe. But now, assuming its real, everyone knows their plan.. and it wont work
One of the news articles said Mtgox was declaring bankruptcy... was that verified? or FUD?
286.
Post 5355941 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I was able to increase my BTC by 20-30%, but more importantly I cleared a few levels of Candy Crush!
287.
Post 5355964 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
bitcoinbuilder is such a fail.
people who wired some fiat to mtgox and were betting against mtgox insolvency...
well, you might have a gambling problem.
Not if you think that there's a tiny chance MtGox and its associated assets could be bought, restructured and rebranded into a functional, profitable exchange by a forward-thinking capitalist. A longshot for sure.
fulltilt was bought out in the same shape as gox......
funny you say that, because i have been comparing the situation at Gox to that of Ultimate Bet. I said jokingly that Poker Stars should buy Gox...they have plenty of funds to do so..
It was an investment opportunity and *possibly* failed. I have no regrets. Shame BB doesn't get my 2% from there. Does he? He's not going to take it from my existing BTC right?
288.
Post 5356338 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I'm guessing it's only a matter of time before we go down again?
I'm not sure, it just depends on if enough buy orders get placed before someone comes and dumps another 1k of btc. The sell off seems to be leveling off from the Gox news. People in the United States that went to bed early are going to wake up to a big surprise in the graphs...
Yes my guess is we're basically reacting from $135 to $0 on Mtgox. And my logic was we dropped from $850 to $500 when Mtgox dropped from $1000 to $100. So $135 to $0 so other exchanges has to be $300 to $500. And I remember the last time I tried to get greedy and get the bottom I ended up missing out from $450 to $1000. I doubt it will happen this time. It's a whole new ball game once again. So we'lls ee what happens.
289.
Post 5357778 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I hope the Winklevoss Twins bought Mtgox. That would be epic!
290.
Post 5358129 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
Choo choo? Stamp @491 and climbing
Wow. Stamp caught up to BTC-E that is exciting! Bah. No fair. You guys got the much better price!
291.
Post 5358209 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
Bitcoinbuilder went from .1 to .2
I got 10 at 0.1 and wondering to take profit or keep gambling.
I was just about to comment on that. If you bought at the low 0.007 and sold now can double. But man that's risky. haha
292.
Post 5358443 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I sodl at the bottom
damn my lack of faith
damn brother, how come?
the FUD....it got to me. And like many here, I was never rich, buying a few bitcoins a long time ago before these two huge bubbles has squashed my ability to remain rational.
edit: let this be a lesson to you all - HODL
Why though? All the other exchanges only dropped $300 when Mtgox dropped from $1000 to $100. So logically speaking, my best guess was it wouldn't drop pass 300. Most likely 400-500.
293.
Post 5358554 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
Until a statement has been released by gox\mtgox, everything is still up in the air.
^This! It's a slim chance, but it's there.
294.
Post 5358642 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.19h):
I sodl at the bottom
damn my lack of faith
damn brother, how come?
the FUD....it got to me. And like many here, I was never rich, buying a few bitcoins a long time ago before these two huge bubbles has squashed my ability to remain rational.
edit: let this be a lesson to you all - HODL
At least don't sell while it's going down a lot. I first bought in near the top of the April rally.. but when it crashed I never sold.
I was in the red from then all the way to the China rally, so about half a year. Either go in with full faith in the long term, or stay out.
I did sell for a nice profit at $960 though. I'm not against shorting, but you need to know what you're doing.
Nicely done. I sold 90% @ $180 when it was dropping. Never bought back in because I didn't believe it would rise so quickly. Missed out on $1200. Then I made a desperation move and sold my last 10% @ $860 on Mtgox when it was dropping. Made another gutsy move and bought int at $700 and sold at $1000. But if I had just held all the way until $1200. I still think about that.
295.
Post 5369639 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
From Reddit:
http://www.reddit.com/r/Bitcoin/comments/1yvdcd/heres_a_summary_of_what_has_happened_over_the/1.) MtGox allegedly lose 750,000 Bitcoins, according to an ALLEGED leaked document by MtGox, titled "Crisis Strategy Draft". TwoBitIdiot, who leaked the document, is a known person within the Bitcoin community.
2.) He then decides to leak the document to the public 1 - 2 hours later confirming this number, and within the document it says they are to rebrand as
http://gox.com and lie their way out of this mess.
3.) After the document is leaked to everyone, MtGox halts trades immediately (Around 5 minutes after the leak)
4.) At this point,
http://gox.com is still a parked domain, and not long after starts to redirect to
http://mtgox.com (EDIT: More information on the domain situation from chris45215, which basically confirms that MtGox were indeed planning to relaunch as Gox.com as explained in the leaked document. Further info on Domain Investing.)
5.) After around 30 minutes, Coinbase, Blockchain, Circle and Kraken simultaneously release identical articles titled "Joint Statement Regarding the Insolvency of Mt.Gox" (EDIT: Since then, some of the articles have removed the word "insolvency", but not all of them.)
6.) A further 5 minutes later,
http://mtgox.com is taken completely offline.
Then:
MtGox web page goes blank, with hidden hint MtGox may be being acquired. - source - comment in HTML of MtGox home page (a placeholder for an announcement about 'acq'). (This web page has since been superceded)
Hours later, MtGox web page carries a statement that "a decision was taken to close all transactions for the time being in order to protect the site and our users"
Karpeles tells Reuters ""We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."
Domain name Gox.com now registered to Karpeles/MtGox.
http://www.whois.com/whois/gox.com gox.com redirects to mtgox.com. (A third party could have registered this and set it up as a hoax but that seems vanishingly unlikely.)
The "Crisis Strategy Draft" report seems to be the sole source of rumours that 750k bitcoins are missing from MtGox. Also seems to be the source of a new supposed 'Gox' trademark. Rumours about ~750K bitcoins 'missing' from a MtGox cold wallet are confused, with some people assuming that 750K have gone in one go, others assuming that they have leaked away in small amounts over years, and others speculating that they have been destroyed/keys lost. If coins are 'missing', the figure might not be as high as 750k
Facebook page 'gox.com' launched, seems to be fake/troll with increasingly absurd comments about Dogecoin, etc. If the content were genuine, it would surely be on the mtgox.com and/or gox.com websites, not facebook.
IRC seems to carry comments from known(?) MtGox developers about losing their jobs.
MtGox still conspicuously fails to prove that it has Bitcoin assets by signing any in the blockchain, though this may be for commercial/securty reasons.
Thank you for this summary. There is a mess of information and rumors going around so this helped a lot.
296.
Post 5373309 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
Am I the only one who thinks that if Gox does come out alive and pay out, that this would be the best thing to happen for Bitcoin? The news would be unbelievably positive.
Its death.. well, its terrible already. It will only get worse if they wont pay out.
Sure for those who have BTC in Gox and those who support BTC no matter the price. But for those who don't have a significant number of Gox coins, they'll have to make another decision whether the arbitrage will decrease the price or increase. I don't want to think about it. So I hedged my risk with Gox coins.
297.
Post 5375338 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
nice pump
Wow. Urge to sell rising!
The cat's name is Tibane. He named the fuckin parent company after his cat!
Lol. Which came first, the cat or the company?
Come on. Not a single
BTC video? Disappointed, but that recent comment on his video was funny:
"Prepare your anus. Downvotes are coming."
298.
Post 5375371 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
1100btc wall at 348$ at stamp... This could be a toughy...
You mean $548
Looks like Bid Wall @ $540 is increasing too.
299.
Post 5375427 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
1100btc wall at 348$ at stamp... This could be a toughy...
You mean $548
Looks like Bid Wall @ $540 is increasing too.
Yeah 548$. My fault. Now it is 800btc. But a support wall at 540$ with 660btc. But maybe both are fake.
Hugh, it must be amazing to trade with such amounts...
2400 to $550... someone does not want it going past $550...
300.
Post 5392007 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
Mtgox BTC still selling for $50 USD! Bitcoinbuilder keeping the ghost of Mtgox alive! Josh actually posted new warnings about Mtgox insolvency that you have to agree to before you can continue trading.
The following guy is just not accepting the reality of the situation here.
2681.47000000 GOX for 0.80000000 ฿ ea.
301.
Post 5392139 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
Mtgox BTC still selling for $50 USD! Bitcoinbuilder keeping the ghost of Mtgox alive! Josh actually posted new warnings about Mtgox insolvency that you have to agree to before you can continue trading.
The following guy is just not accepting the reality of the situation here.
2681.47000000 GOX for 0.80000000 ฿ ea.
Just people betting that Gox will be bought out and made whole. You're preaching a the choir of gamblers here.
Price could go up depending on what Mark says during the subpoena.
302.
Post 5394231 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
303.
Post 5395370 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.20h):
304.
Post 5397705 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.21h):
Current speculation is that they exist (they are stolen but they still exist). A minority believe the private keys have been lost (in which case they are truly lost and this is super bullish).
Edit: Almost certainly it is one of these two. I highly doubt Gox has the coins.
The third most popular theory is that Mark spent everyone's funds on frappuccinos.
I bet he spent them all on Magic:The Gathering cards.
Those have been a pretty good investment.
305.
Post 5433242 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.22h):
Do you have any proof of sending 50k to mtgox? This is not speculation is throwing money off the window. You might win, but still it's stupid to do.
***Image deleted***
awtch
There is NOT even a date on that page... but I suppose that there will be a correlation with other records... and then within GOX there are a lot of records of various transactions and trandes that may have taken place between the date of the deposit and the date of the closing of the exchange. HOWEVER, I am confident that ONLY a small portion of GOX customers went through the effort to save those various pages of electronic data (even though there were several weeks in which that saving of pages could have been done (between the time of the discontinuance of withdrawals until the time of the shutting off of the website)..
Gox went down with his 1200 BTC. He was not seen here since he said how much he lost there. Serious shit.
Some guy reported 4200
BTC Gox loss. Shit.
Actually, even though some people take risks in their investments and their hopes that businesses and persons are acting with a certain level of integrity, sometimes the risks are kind of anticipated....... ... and like everyone says, the best time to invest is when others are running away from that investment....... .... ...
YES>>> >> the blood of a lot of people will boil... when they read the level of admissions of loss or theft that occurred through GOX....... it is really bullshit and it still does NOT add up... that anything other than fraud was going on at some level..... which actors are responsible??? probably a few people besides Mark... .. even though the buck stopped with Mark.
Bitcoin Builder claims losses of 8000 BTC + $400K USD.
306.
Post 5477508 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.23h):
bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
I don't even understand why it rallied to 0.107. Was it because it was civil rehabilitation rather then bankruptcy? :p
307.
Post 5477561 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.23h):
bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
If bitcoinbuilder went to 0.9, how many people would be able to sell at this price? Bitcoinbuilder is now a fake market because noone can possibly sell at their price EXCEPT those who have already transfered their goxBTC over to bitcoinbuilder before the close.
You can tell just by looking at the extremely low volumes. Plus, I believe the bitcoinbuilder admin is taking a 4% fee on each trade, and the 2% realBTC side he converts into goxBTC he claims, so effectively he is subsidizing it.
0.114 now. I don't think anyone buying right now is thinking of selling now. They intend to in the future. Basically price has gone from $20 to $55. That's the best "altcoin" in the last week!
Edit: 0.12 now!
308.
Post 5517936 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
looks like we still got a few bears that think they know better,
bears prepare to wake up dazed and confused as you look upon other flag pole formation and price at 741.POWNED!!!!
This looks like the same scenario as when I traded in December. It's bouncing between 650 and 700.
Well, I'll wait until 680 to 700 and sell. Then buy back at 650.
End up going to sleep. Sold at 700. Wake up at 750.
309.
Post 5519356 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
Wow. That's depressing as hell.
Only 28 too. Too young. Just too young.
310.
Post 5555694 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
So will BTC be on the cover of the next Newsweek?
311.
Post 5558271 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
Chinese Slumber Dinosaur prediction for Friday Mar/07
So are we in a Velociraptor or Glyptodon market?
312.
Post 5558315 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
A Glyptodon is not a dinosaur, and I fear someone is trying to foist off armadillos on the unsuspecting speculators, who are depending on dinosaurs for their inspiration. A plot to subvert our animal spirits? Beware, speculators, lest banker proxies inflate the sound crypto sauropod market with dilutive fiat mammals!
Wait.... did you actually know what that was cuz I had to look it up. haha
Should have used this guy!
http://news.nationalgeographic.com/news/2011/02/110203-biggest-bear-largest-giant-short-faced-animals-science/
313.
Post 5558579 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.24h):
So will BTC be on the cover of the next Newsweek?
Either Satoshi or Bitcoin will be Time's man of the year.... hehehe
By the way, what is CCMF? Is it "Choo Choo Mother Fucker?"
What about Mark? haha I wonder if mainstream knows Mark Karpelese more than Satoshi.
314.
Post 5595858 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.25h):
I decided I would take one for the team and sell some
BTC, this usually triggers an upswing immediately afterward. You're welcome!
yep it worked, made me smile but i'm sorry for your (hope small) loss, unless you were just joking
I just sold 0.66 bitcoin with @Coinbase!
Just some to pay bills.
How long does it take to get your money? I've wondered if normal international wire transfers would be about the same speed. But if Coinbase takes just a few dollars for small transactionsthen that would be ideal too.
315.
Post 5631578 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.25h):
Is
http://trading.i286.org/ still around? I'll take one with bitstamp, bitfinex and BTC-E. Willing to donate. Watching dumps and pumps just isn't as exciting.
316.
Post 5753537 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.27h):
Litecoin about to cross 0.0283 BTC per LTC at BTC-e?
Litecoin to meet Bitcoin at 135 USD?
there X4 more litecoin then bitcoin
it offers 0 innovation
its expecting a strong dead cat bounce because thats just how ridiculous crypto VS fiat is
that is all.
I thought this was going to be
BTC comics page. Disappointed.
317.
Post 5818349 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.28h):
weekend rally?
I'll be happy if it just stays above 600 during the weekend.
318.
Post 5831105 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.28h):
what's happening dear adam ? why is this going down ?
i have no idea
i only know why it goes up
going down makes no sense!
Yea this confuses me too. Any bad news recently? I thought the only major thing was Mtgox finding 200K BTC. That's considered bad news? :/
319.
Post 5958408 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.30h):
Jorge wants those coins cheap!
That would be hilarious if all this time he was buying and selling.
Jorge, if you are, you've got to tell us one day!
320.
Post 5997231 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.31h):
For negative stuff isn't it sell on rumours buy on news?
It's amazing how people forget this. Remeber pre-Gox, when it was all about China? By the time the deadline came we were stable / inching up and if it hadn't been for Gox we would have continued that way I reckon.
Maybe there is another way, but to me it looks like there is going to be an epic showdown between $380-$420. The bid sums are already lined up, with plenty more waiting in the wings. But China is going to attempt to take us down to $200s
We need real capitulation and I think we are going to have a chance at it when these two forces meet.
Maybe, thats kinda what most people expect, but i dont know, i have a feeling that this whole crash is kinda full of shit, cant really put my finger on it
I just kinda know 90% sure it's full of shit. HODL.
I panic sold. That bter news put me over the edge. If I'm wrong I'll buy back in at $520. But I have some even riskier investments in some altcoins so no worries on my end. I'm hedged either way for excitement.
321.
Post 6014671 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.31h):
People who sold at the bottom, when will you learn. Bears who sold at $450ish when will you buy back ?
I think we just saw all those bears get squeezed just now.
I sold at $450. Not buying back BTC. I think I'm done with BTC. Buying altcoins now.
322.
Post 6045610 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.32h):
This is the first bubble I've observed up close and personal. I'm finding it a teensy bit eerie how closely it's following the script others have laid out...
What's particularly interesting is that many bubbles pop and go to zero. Bitcoin has survived several boom/bust cycles, never going to zero. Indeed each bubble high is higher than the previous, and each bubble low is higher than the previous. It appears, and the hope is, there may be a few more of these cycles before it enters a more solid state on price.
This time is unprecedented bad news though.
323.
Post 6045859 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.32h):
This is the first bubble I've observed up close and personal. I'm finding it a teensy bit eerie how closely it's following the script others have laid out...
What's particularly interesting is that many bubbles pop and go to zero. Bitcoin has survived several boom/bust cycles, never going to zero. Indeed each bubble high is higher than the previous, and each bubble low is higher than the previous. It appears, and the hope is, there may be a few more of these cycles before it enters a more solid state on price.
This time is unprecedented bad news though.
There's also unprecedented good news. Its legal status is clearer day by day, which makes it a way less risky investment. Plus the Atm's popping up everywhere, the rise of trustworthy exchanges, business (overstock, etc.) realization that Bitcoin might be profitable for them, etc.
The market seems overly pessimistic at the moment, and prefer to drag the dead dog that China has been since January, rather than rejoice of the many good news.
I wouldn't call it unprecedented good news. Legal status here is clearer, but not in China. Paying taxes on mining is a step backward. Everything else you named was good, but the bad news overshadows it.
That's because there's no official statement in China but there are new developments coming from each China exchange about payment processing. Until there is a statement, I expect to be new lows.
324.
Post 6046994 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.32h):
Lets face it guys we're a bit fucked. The bottom line is that all money in Bitcoin eventually needs to move through the exchanges and people aren't willing to trust the exchanges. So all that BTC thats gone may affect the price upwards in the uber long term due to lack of supply, but if there isn't a safe way to express demand, supply matters not. We'll recover but this might be another 2 year ride (no guarantees, but it seems like a real possibility). I sat through one I can sit through another though, I guess.
Cheer up people. Take a look at this chart from the "other TA" thread and realize that we are in such a great position right now. The trendline is almost freakishly identical to the trend from 2010 -2011 to the trend we are on now from 2013 till now. If it stays on the same path we are looking at $10,000 or even more easily on the next rise in price.
https://bitcointalk.org/index.php?topic=400235.msg6032075#msg6032075I am not worried just displeased that Pboc is so shadowy with the rulings.. but fiat has it slaves.
April 15th will come and go. The price might not move much before then, or up a little perhaps, but when everyone realizes that Bitcoin isn't going to "zero" things will get interesting once again.
The sheep will find another reason to panic sell after april 15. I'm sure.
if you sell before the 15th then buy back after = no taxes or something!? lolll =)
No, the rumored China "Ban" day lands on April 15 which is also US Tax day.
325.
Post 6092891 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.33h):
You have to keep doubling and betting until you win. It is mathematically proven at least to be a break even strategy as long as the odds are exactly 50/50 like flipping a coin or black and red on a roulette wheel... so long as there are NO betting limitations. Your point is that a guy would run out of money sooner or later, but overall it is at least a break even strategy... and pretty unlikely that a guy or gal would lose more than 10 times in a row.
ALL bet distributions/"strategies" are mathematically "proven" to be break even under these conditions, because of the very nature of how multiplication and addition work in the first place.
Like you said betting limitations and the fact there's no 50/50 bet at Casinos. I think the closest is Craps with 100x odds and 2 deck Black Jack. There used to be a few Pai Gow tables that had no commission with huge match play coupons. That was a total blast until they ran out of business.
326.
Post 6100612 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.33h):
Martingalers lose their entire stash all the time on just-dice.com. I'm not sure what the record is for losing 50/50 bets in a row, but it is something very high like 15+.
must be more
go in the casino and u have about 0.003% chance to lose 15 in a row and thats not a very small chance
Is there a betting limit there?
327.
Post 6151528 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.35h):
Well, one possible hope for bulls is that the really big investors are forcing the price drop so that they can claim massive capital losses to the IRS. In that case, the price should shot up again after april 15.
(Wait, are they allowed claim, at this time, the capital losses that happened since January? If not, sorry, forget it...)
No. You're not allowed. The taxes you pay on April 15 are locked in after Dec 31 2013.
However those with BTC who were waiting for a rise to cover taxes in 2013 could be in trouble.
328.
Post 6151651 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.35h):
Could someone translate and type out in English here what it says on Huobi?
http://www.huobi.com/news/index.php?a=show_notice&id=303Google translate not working for me.
329.
Post 6151706 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.35h):
Currency network will be suspended on fire ICBC card recharge service announcement
Time: 2014-04-10 12:33:08 Source: Fire coins Network
Dear fire coins network users:
Fire currency net latest information:
Today around 10:00 Zhongguancun Branch of ICBC received notification client manager, received notice of higher operational management department, fire behavior to stop working currency network to provide services to complete the sales currency net household fire ICBC account in April 18.
10:30 or so, fire a few coins network partner arrived at Zhongguancun Branch of ICBC, the branch manager of client face to face communication to understand the situation.
Follows:
1) ICBC superiors did receive a notice to stop the fire coins Network account Zhongguancun Branch of ICBC, the deadline is April 18;
2) notify the oral notification, Branch not received any written document;
3) asked what other acts did not send a notice replied that the policy may be interpreted in different banks is not the same, the sensitivity is not the same;
4) There is no leeway asked, replied that no, because it is superior notification, not consultation;
5) asked how to handle the user's subsequent capital management, replied that the funds can be transferred to other commercial banks, but ICBC is definitely not it.
Among them, also to ask the client manager for the Bitcoin policy views and other related things, but are the personal views do not represent the position of the bank is also little direct business relationship with the fire currency network, not the one described in this notice .
12:00, sent back to the company announcement. Prior to the announcement issued not earlier disclose that information to any user or organization, the majority of users supervision.
Fire currency network will be next Monday (April 14th) officially stopped using ICBC Zhongguancun Branch account recharge and withdrawals (user ICBC account withdrawals are not affected, we will use other bank fund transfer to your ICBC account), so far Other banks temporarily affected, the latest news will be posted net currency of fire for the first time.
Fire coins Network Operations
2014/04/10
Thanks. Now anyone have a better translation? haha
330.
Post 6152079 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.35h):
the TREND IS YOUR FRIEND, never forget.
The trend is your friend
until the bend in the end!
Still surprised that the Chinese TBTF banks are closing bitcoin associated accounts, but the advantage is that it will draw a line under the China FUD when complete. Also explains why Huobi was making noises about wanting to expand offshore. Now they will probably want to fully relocate offshore. The big question now is whether Hong Kong is insulated from PBOCs anti-Bitcoin directives.
It will keep going until there's an outright China ban as everyone else has been saying.
331.
Post 6162320 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.35h):
I think we see back over 400 by tonight, really everyone was fearing when the big China day came (and now its here) it would be the end of BTC for a while anyways.....and were only down 50 bux??? all day now......I guess make what ya want of it.... Ill just be glad when the China fears are flushed out so we can begin to move forward and focus on all the positives as of late for Crypto again
You think this was it? Watch out, as you might be proven very wrong. Nothing is certain at this stage.
Yes I agree, but we have had weeks of anticipation of what impact China would have,,, we all knew it was coming and yes we have suffered a 150ish drop since all the bad news started really sinking in,,, the previous drops can be attributed to MT Gox and alike and tons of fud to boot. I still have some faith left that the underlying concept of BTC is strong, alive and well and will continue on and grow and we will recover robustly. Keep Hodling
I'm not sure what you mean by this. We all knew any news coming out of China would lower BTC price. No one knew if China would ban BTC. As of this time, it's still not banned. If it is, the price will go down more.
332.
Post 6165935 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
The $50K foreign currency per year per citizen is new. But not sure if that's official.
333.
Post 6167526 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
334.
Post 6167612 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
What does this change? They never hinted they're going to ban bitcoin completely, actually they said same thing back in December.
But yeah, people are taking over a thinnest thing in Bitcoinland so it's possible this would be seen as something major.
But it was starting to appear that it was getting more and more restricted. Some investors were fearing a ban even though as others have pointed out they could just say ban if they wanted a ban. Other than another statement by the Bank of Agriculture there hasn't been another official statement. But this kind of message I feel means that might be the end of restrictions and give more clarity for what banks can and cannot do.
This statement goes against the $50K foreign currency restriction though so I dunno. I still think it's positive!
335.
Post 6167753 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
just got home from work..... nice!! what a rally!!
Uptrends automatically makes every day a good day
If you're not 100% fiat; yes.
336.
Post 6175192 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
There are several factors why people do not daytrade :
1) They feel safer to have their coins in the coldstorage and not on the exchange - nothing wrong with that
2) They understand that trading is a serious deal, that you cant just jump in right into it and make money - nothing wrong with that
3) They have other job and its more profitable/comfortable for them to just focus on their job and buy more coins when the price is right - nothing wrong with that
4) They feel that in the best case trading is a zero sum game in which they have no edge and worst case pure gambling (with a preference for the latter theory)
5) You have to pay taxes the first time you sell. 25% in US if you held BTC under 1 year. 15% for more then a year. This assume you have net capital gain of course. Otherwise day trading is less of a problem.
337.
Post 6176108 (copy this link) (by virtualfaqs) (scraped on 2020-04-04_Sat_12.36h):
Must confess I wish I bought and kept some coins from yesterday
I own a time machine and I will take you back to one time frame. 24 hours it is.....You could have gone back to feb 11 2009 :/
Deal
That begs the question. What if Satoshi never invented BTC, would we still have something like it today?
