Bitcoin Forum

So the guy in this video claims it gonna fall around 15$ when banks start to short:

http://www.thebitcoinchannel.com/archives/661
(http://www.youtube.com/watch?feature=player_embedded&v=qBuJEwsmdik)

What is your opinion about this? And for comparing bitcoin with silver?

Are they the sharks and most of us the fish that gonna be eaten?  8)

PS: I am a hoarder having faith who did not sell in the first bubble burst in 2011 nor in the last two corrections...

First!,  you have to buy

Are they the sharks and most of us the fish that gonna be eaten?  8)

Bank can go short when have Bitcoin, If you have no Bitcoin then you cannot selll Bitcoin under market price.

Or, borrow.

Of course, that means...If they're the sharks, the true believers lending them BTC to short with (and extracting heavy interest in exchange) are shark-farmers. :)

+1 we will see what you do. :-)
[/quote

see = hear, fell and see (just free market)

I don't trust my bitcoins with any third party, learned my lesson with bitcoinica.

the banks manipulation of bitcoin makes the manipulation of gold and silver look like NOTHING

If a bank wants to buy/sell/short (or whatever) bitcoins, how is it gonna justify these transactions to the regulators?

Not quite true. For example, all Mt Gox trades take place within their internal database. It is theoretically possible for them to allow a customer to sell bitcoins they don't actually have. The scam could be covered up for a long time unless their customers regularly withdraw their entire Bitcoin balance.

If everybody demanded their Bitcoins at the same time it would quickly become apparent if they had sold more bitcoins than they actually had, and the scheme would unravel very quickly.

I doubt it. Then they would suddenly ask everyone to send them all of the documents that are always necessary when the system flags an account as potentially criminal or if someone wants a higher withdraw limit. During the time they could claim to be 'processing' the documents they could buy back enough bitcoins for people to withdraw. They would pay less because after driving the price down they would be able to buy them cheaper.

Beyond miners, bitcoin doesn't have regulators.

What do they need to justify and why?

Cool isn't it?

MMM，i'm taking my coins at mtgox back to my local wallet now. Thanks for the risk alert. :o

Damn English!  :P

I mean banks trying to hide 'money laundering' actions from the government and the like (tax offices). I know this is ridiculous to say though (banks being actually the government)!

Similarly, I wonder if people making a profit from investing in bitcoin are liable for capital gains tax, and if so, how many people would actually report it. 

Kind of off-topic to the issue of banks, but it's another legal concern for the bitcoin economy.

Mark my words. Soon the 2011 crash will look like a walk in the park.

I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills.

I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker.

As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid.

I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit.

If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo.

Old meme is old.

Next.

Good job preserving it!
@Yokosan, would you please elaborate? Your post is quite impressive.

 :'(

http://knowyourmeme.com/memes/navy-seal-copypasta

Not quite true. For example, all Mt Gox trades take place within their internal database. It is theoretically possible for them to allow a customer to sell bitcoins they don't actually have. The scam could be covered up for a long time unless their customers regularly withdraw their entire Bitcoin balance. If everybody demanded their Bitcoins at the same time it would quickly become apparent if they had sold more bitcoins than they actually had, and the scheme would unravel very quickly.

Note that if you have a large BTC balance at Mt Gox you aren't allowed to withdraw it all at once, which is a very good reason to keep your bitcoins in your own wallet instead of theirs.

This is true. As long as money is to be made it will always be true. It is going to get worse and there is nothing we can do about it.

The advent of Coinlab spells doom for the current incarnation of Bitcoin.

All you can do to protect yourself is get ready to pull out before it is too late.

Remember gentlemen, don't put more money in than you can afford to lose. The next 2 weeks are going to be the bumpiest ride in Bitcoins history.

I can tell you this: When it happens it will be fast. Most will only learn of it after the fact. Those lucky few online when mtgoxlive goes berserk will be able to make a tidy profit before the inevitable collapse below $5.

Mark my words. Soon the 2011 crash will look like a walk in the park.