Damnnn that's alot a coins  Yup. I think there were 3 or 4 auctions in total. The biggest one sold 44,000 coins in one go to four different buyers. Stupid people on here believed that millionaires would buy all these coins so they could dump on Yobit. Funnily enough they didn't. The first auction induced lots of pointless fear. No one cared about the later ones. That first one of 29,000 was bought to provide liquidity for an exchange I think. He paid $600 per coin ish so even if the exchange idea was discarded he's done pretty nicely. Like I said I'm kind of intrigued as to what the FBI will do with the coins that have subsequently been sent to the address. You can't close down an address. Maybe they'll sit there forever as a monument. |
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And did you track the wallet at the time??. Check it! They had 29000 bit coin. it would be sensible for them to keep some and try to catch people doing dodgy things .like try to get their ip adresse . I'm no programmer but I've been interested it crypto for years
They had 144,000 in total. All of them were sold via US marshal auctions. They didn't want to keep them and they wouldn't be permitted to. No doubt oddballs have sent money to this address as it's an extremely famous one, just as people send money to the genesis block. As the authorities still control that address I dunno what they'll do with that dust. Tim Draper won the first auction for those coins - https://www.cnbc.com/2017/05/05/billionaire-investor-tim-draper-backs-new-cryptocurrency.htmlhttps://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55 |
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They don't have any SR coins. They were all sold many years ago to multiple entities over several different auctions.
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I well and truly do not believe there'll be a split. 2X will turn out to have enough flaws for the NYA folk to reject it. Even if there aren't enough genuine flaws Core'll probably FUD it up enough to turn people off.
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Just two posts in Bitcointalk and this guy claims that he was offered Bitcoins worth a million USD. Anyway, as per the New Liberty Standard exchange rates, the exchange rate during 2010 was around £0.0005 per coin. £200 would have got this guy BTC400,000, which would be worth $1.3 billion as of today's exchange rates.
I think it's safe to say that had he tried to buy 400,000 in one gulp the price would've risen even then. He might even had to pay £300 for that much. That's every block reward for 55 solid days. |
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Long term, yes. As much as I like the idea of fast, reliable non-KYC centralized exchanges, they are not sustainable.
If the SEC/CFTC (or worse) shuts down the exchange, any funds seized would be tied up for years. And like Gox, after legal expenses, customers would get a small percentage of their funds back. And it seems very unlikely that customers would escape fully intact. As mentioned, Bitfinex and Tether are one and the same. There are many hundreds of millions of USDT held as obligations by other exchanges. It's very possible that the shutdown of Bitfinex could cause massive losses to USDT holders across the ecosystem, as it would instantly lose all its value.
Yup. But the red flags have been getting redder by the day for years on end when it comes to that crew. It must be a case of when not if. No doubt the entire market will take a huge hit but if people aren't personally out of anything they're involved in by then I'm going to struggle to have any sympathy for them. |
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That explanation worked for the first month or two. But Bitfinex announced months ago that they moved nearly all of their fiat money outside of Taiwan. Why are they still unable to process outgoing bank wires to their clients? The reason for that is -- at a minimum -- being blacklisted by Wells Fargo and all its correspondent banks (virtually the entire USD banking system). One has to wonder whether this was done at the behest of the US government.
Someone above suggested that US federal agencies may be up to something regarding Bitfinex. The conspiracy theorist in me thinks that the BTC-e indictment (filed in January 2017) and Bitfinex being cut off from the banking system (March 2017) are part of a larger operation targeting unregulated exchanges.
As long as every customer got out intact I would regard the demise of the people involved in Bitfinex as exceedingly good news for crypto. There should only be two types of exchanges, fully regulated or properly decentralised P2P. The third way, centralised and unregulated, delivered us Gox, Cryptsy, Mintpal, Bitfinex, BTER and god knows how many others. Even if the operators of these places are competent and not thieves, they'll get raped by the authorities eventually. |
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If they take the crown I will turn into an absolute Litecoiner to never hear of you again.
There won't be a crown to take. It'll have turned to dust. |
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Everyone and their mother are talking about Poloniex problems this month. I say very soon they will go down and anyone who did not withdraw their funds in this month are an absolute fool.
Alt fever and volumes are long gone. They roped in their own grandmothers to do the support tickets and verification yet they're worse than ever? That's not a very encouraging sign. |
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Never. If Bitcoin spreads to most of the world, the next thing that kicks in is the proper deflation as the block reward slows to a trickle and then end. There'll always be newcomers, there'll never be more bitcoins, their local currencies will continue to lose value.
Do the math as they say.
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Now BTC-e is gone there isn't one, but even they asked for some ridiculously intense verification sometimes.
Anyone running an exchange now will be far too terrified to buck the system. There are degrees of it though. Coinbase, which is regarded as the most establishment of them all, fought off an attempt by the IRS to access their records recently.
Bitcoin isn't anonymous anyway. You'd have to be extremely diligent not to link an identity to your coins somewhere along the line.
You could look into Bitsquare.io as a fully decentralised exchange. It's fully P2P so there's no one to hand over any records. Volume isn't too high though.
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Until you consider: Why has the entire banking system blacklisted Bitfinex? Could there be mething larger at play?
It's the banking system blacklisting Taiwan, not Bitfinex. Taiwanese regulation has been exceedingly slack which is why BFX lost their international banking, as did other places such as Okcoin.com's USD. That slackness is exactly what attracted Bitfinex and OKcoin in the first place. Now it's being punished by international intermediaries who don't want the ball ache. It's explained here - http://us3.campaign-archive2.com/?u=db45c09bdf20e1866bb32123f&id=e23b33309e |
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If you really feel you've missed out on Bitcoin, and no one has, then it's equally unhelpful to put all your eggs into another basket that's pumped ridiculously as well.
At the start of the year ETH was $10. That feels a little bit like a missed boat too to anyone buying in now. There's still potential upside but it would take some paradigm shifts to really get dramatic returns.
Same goes for BTC of course, but there might be more possibilities of explosive developments, both good and bad.
Maybe put a little play money into the top ten coins at Bittrex or Poloniex. A few will fail miserably, others may more than compensate for that. Similarly put even less play money into stuff that's currently nowhere but has a little excitement behind it.
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The core developers cant stop the hardfork, only miners backing out of the agreement can.
And there's a very good chance they will. Segwit was production ready regardless of how anyone feels about it. As far as I can tell no one's seen 2X code yet outside of the little bunch of fellas making it. I don't think miners are bonkers enough to pin all their investments on something so rushed from a bunch of unknowns. |
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Thanks for the clarifications. Is SW2x really the best solution? Isnt SW + LN enough to solve this problem without having to produce a Hard Fork?
Does anyone know what the best solution is any more? There are two diametrically opposed ideas. Core is looking to the future at the expense of the present and possibly vice versa for 2x. And since we still know pretty much nothing about how an LN will operate in terms of routing and gateways I think it's a little early to describe is as the answer to all our prayers. Bigger blocks looks a lot simpler from the outside to the uninformed. |
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Let's see some actual code and some actual opinions and testing before it's declared a fact. We do of course know what Core will think already.
The people who are signalling aren't stupid. They're all in it for the money. They're not going to risk that money if it's looking too disruptive. It'll only take one or two having a doubt before the entire house of cards collapses.
Then we're kind of back to square one with the added attraction of BCH for the big blockers to bully everyone with.
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There's no way I'd bother. In this day and age if I were flying into America I would probably delete any wallet and bury the seed in an obscure file just in case. There's lots of potential for misunderstandings and ball ache if they do get a sniff. Those TSA people aren't the brightest.
I can imagine they will come out with a firm policy some day. It'll also be laughable and a breeze to route around.
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I seriously thought it was done an over with Bitfinex, in terms of being the largest USD exchange.
It's not really a USD exchange any more as you can't input or extract USD. It's bizarre how short everyone's memories are. They were ravaged with outages and haircuts yet they still came back for more. They've still said nothing about the hack, still haven't provided an audit that was promised months ago, when they lost banking they said they were going to be opening new trading pairs like CHF a week or two later. Er, nope. Regardless of this spoofing in crypto is not illegal so it's going to happen. It's a bit less cool if it's the exchange themselves doing it with dollars that they've magically conjured into existence with Tether. |
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If Bitcoin can survive its governance problems, forkmania, get some decent exchanges and something ETF esque I think $20,000 is achievable by the early 2020s. So 50 gets my vote. That's not remotely achievable for most here now.
Of course if you and Bitcoin stick around long enough you'll end up being a millionaire simply thanks to inflation with one or less.
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You quite sure you can fulfill the second part of the requirements?
Hmm. I think I'd have to stop off in Thailand first to purchase some 'chickens' to accompany me to the Spanish consulate to perform notarised a happy ending when the time arrives. |
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