Bitcoin Forum

When someone asks you "What is the price of a Bitcoin?" you would answer the Mt. Gox exchange rate in 2011 and 2012. This year, this is no longer correct.

Mt. Gox has been refusing to process withdrawals PROOF (https://bitcointalk.org/index.php?topic=251895.240) in order to scare people into buying BTC to be able to withdraw their fortune from the site, which caused the price to rise above the "true" rate.

Mt. Gox Rate: $143.87
BitStamp Rate: $126.50
BTC-e Rate: $123.24

As you can see, Mt. Gox users are being defrauded of about $20/BTC currently. The site https://bitcoinaverage.com/#USD has tried to average all the exchanged together to make one "true" price, but this is still false because all exchanges other than BTC-e are fraudulent.

The only way an exchange can offer the true price of Bitcoin is if anyone can instantly deposit and withdraw at any time. The only exchange which can offer this service for now and for the future is BTC-e.

Here (https://en.bitcoin.it/wiki/BTC-E#USD) is a list of the deposit/withdraw options:


This is the only option that can guarantee instant deposits/withdrawals for all, which proves that the exchange rate is 100% real and not tampered with. Other exchanges had "cash deposits" at various banks but they all have been, or will be shut down due to problems with the law.

Anyone exchange that is accepting cash deposits for Bitcoin in the US is committing a felony! PROOF (http://www.fdic.gov/regulations/examinations/bsa/bsa_13.html)


Also, any deposits made in order to sell Bitcoin would be involved in selling a ponzi scheme, because Bitcoin is recognized as a ponzi scheme by US law, since the people who originally bought are profiting from the people who are buying later, and if all people who own Bitcoins were to sell, the price would collapse to 0.

http://kschang.hubpages.com/hub/How-Pyramid-Schemes-and-Ponzi-Schemes-are-Prosecuted-in-the-US

Thus, anyone selling Bitcoins using an exchange other than BTC-e is committing a felony!

In conclusion, anyone trying to buy or sell your Bitcoins at an exchange rate other than the BTC-e rate is trying to scam you.

...guilty as charged, I guess :-)!

Can you be, please, more specific about bitstamp?
How are they fraudulent?
They AFAIK don't offer cash for some reason - but you send SEPA, in 40 to 100 hours you buy BTC in 2 next hours you have them confirmed in your wallet.
Seems fair to me.

cant say something bad about bitstamp too.

Actually I use both BTC-e and mcxNOW, and they both can get instant withdraw.

Or you just use BitCoinAverage with the no-Mt.Gox option enabled.

Of fiat?! ;D

If you are buying on BitStamp you

1. Have to pay a fee
2. Are doing something illegal, because you are sending money in exchange for another currency that could be used for tax-evasion and/or funding a terrorist organization.

You need to be careful shouting broad statements like that as they are clearly false.

As you'd know, bitcoin is an international medium of exchange and therefore you need to get a little more understanding of the world around you and prefix your remarks as being perhaps only relevant to users of bitcoins in the United States. You're probably also aware that the United States is only one country in the world and if not, have a look here, scroll down near the bottom of the alphabetical list:

http://www.un.org/en/members/index.shtml

Plenty of other countries have absorbed bitcoins under their existing legislation and the country where I live, Australia, is a case in point where the Australian Taxation Office (ATO) effectively declared bitcoin profits taxable and therefore subject to its regulatory purview.

This is how the mainstream media reported it:

http://www.afr.com/p/technology/ato_targets_bitcoin_users_oawpzLQHDz2vEUWtvYLTWI

http://www.brw.com.au/p/tech-gadgets/ato_monitors_bitcoin_to_trap_tax_dOORUtBFU2oY3XmMg4y0CP

The verbatim quote from the ATO is contained in this article:

http://www.businessinsider.com.au/the-ato-says-bitcoins-have-been-taxable-since-the-get-go-2013-6

And if for some reason you only read bitcoin news sources, there's similar comments here:

http://bitcoinmagazine.com/5526/regulatory-responses-to-bitcoin-2013-edition/

In conclusion, you ranting away like you've just revealed some unholy truth that will shake the world to its foundations is not only short-sighted and demonstrably wrong, it highlights that your only focus is on markets where bitcoin regulation is laggard, rather than a more holistic and optimistic view that as with some other jurisdictions around the world a 'business as usual' approach can prevail and has prevailed.




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Joke overheard near the water cooler:

"What do Americans call Central America?"
"I dunno, Nicaragua, Belize or Panama maybe?"
"No. Kansas."
"!!!!!!!!!?!?!?!???????!!!!"

Yes, but US authorities will land you in jail no matter where you are:

http://youtu.be/pMas0tWc0sg?t=1m16s

Your link looks dodgy so I haven't bothered to click it as you didn't have the courtesy to introduce what it was; besides, I'm happy doing my own research.  Whilst I appreciate that there are more Americans incarcerated per capita than any other country on Earth, you can keep your unhealthy paranoia to yourself as other people don't need to hear about your fears ;)

You're probably the felon, it's you they're coming after  :D


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But I get it, many of you get jailed so it's hard for you to believe that you're "the land of the free and the home of the brave".

Jeez, even the New York Times gets it:

http://www.nytimes.com/2008/04/23/world/americas/23iht-23prison.12253738.html?pagewanted=all&_r=0

Anyway, peace :)

Apologies for the double post, but maybe this exchange will be able to help you if you're in the US? It looks like they've gone heavy on the compliance, maybe worth checking out?

https://coinmkt.com/#/aml_compliance


I have no idea about them at all and this isn't a recommendation, I just discovered them on this thread and thought I'd mention it to you:

https://bitcointalk.org/index.php?topic=304641.0

Some comments there also about low depth and liquidity, but might be helpful if you're looking to exchange green backs for coins?

You can always use EDIT button  ;)

We aggregate pricing from BTC-e and several other exchanges as well as our own, so ours is incredibly accurate as well:

https://www.coinmkt.com/

You should slow down on the LSD.