I've also noticed how all the other altcoins have had a shitty ride recently, mining LTC as I do has become almost useless though it still pays more than the electricity so I'll keep on doing it for now.
At one point I earmarked LTC as the only viable rival (I saw it more as a partner) to Bitcoin but ultimately BTC is the daddy.
Honestly I would long the shit out of LTC right now. Once the ASIC rampage makes mining BTC with GPU farms nigh worthless in the next 1-2 months, 20-40% will sell their rigs and the rest will move to mining LTC. Scarcity will increase with the surge in difficulty and there will be a whole new pool of people assigning value to them. I think there's a very, very realistic chance to see $10 LTC in the next 3 months. |
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I think the 120 wall gets bought for sure. Market sentiment is very different than it was pre-Dwolla drama where resistance resisted. The real test for the last 3 weeks is 125.
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Real question is when we test 125, which failed 3 times when the market was more bullish 1.5-2 weeks ago, will we break through?
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All I can think of is how FullTilt, as they were having their accounts seized, kept on stating "don't worry your money is safe". No comments from mtgox on how much was seized is worrisome to say the least. I hope that they have the funds and or the backing to make all cash deposits whole. Do we know if mtgox has the funds in segregated accounts in a jurisdiction of which the US government cant touch?
When the DOJ seized FTP and Stars it happened suddenly, all at once. That's why the event is called "Black Friday". There wasn't any telegraph in advance. Once the DOJ unsealed their case and obtained their warrants for seizure they simply collected everything of FTP's and left the building. The fact that DHS only went after Gox's Dwolla account is very good in regards to there not being a total catastrophe. |
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This is actually from April 22 so I just suck at the Internet.
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April 22nd? Isn't that old news already? Laughs. I'm awful. |
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We have transfered additional funds on Bitstamp today and they should hit our account tomorrow or by monday at the latest.
For MtGox we wait for the situation to normalize, one week without bad news hitting them would be already a world record!
:-)
Giancarlo
Customers Relations
Bitfinex Team
Sweet. Thanks for the headsup. |
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So for how long are you preventing sale of BTC on Gox and for how long will Bitstamp asks be missing?
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Have the Bitstamp asks been gone from the Order Book since last night? I still do not see them.
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You're severely overestimating the effect of propagandized rhetoric in today's world. This isn't 2001 anymore.
I'm heavily in favour of evaluating the risk of an assault by the US Government, but the reality is today a large scale assault on Bitcoin will only serve to propel it into the mainstream because once the counter-forces in society start to ask the question "What really _is_ Bitcoin?" they will investigate it in all due seriousness and find that the fundamental protocol and idea is excellent and solid.
It will actually serve to help Bitcoin in the medium and long term. It will def crash the price on Gox in the short term though.
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Wallmaster with 3.5k on 114.59 holding the price down.
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Not hard to lose the image battle when you get targeted by shithouse journalism. In BTC's case though, press coverage is press coverage right now. They can say what they want, but the fundamentals of the Bitcoin system are sound, and that's what will prevail.
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They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.
5 Mega into Coinbase wasn't too shabby honestly. |
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That's some shithouse journalism to say the least. The warrant doesn't shut down Gox. It just seizes their US Dwolla account.
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Gox www lagging hard/API unresponsive/broken for anyone else?
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When you say Stop-Gain Buy orders do you mean trailing stops, or something else?
Edit: Also just noticed new .exe calculates size via the Size Button to 99999.0000000 after you enter funds/price. Total does the same thing.
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This is acting on the new guidelines set forth by FinSEC. These guidelines are not law and therefore this is not a legal proceeding.
Really, dude? A Court Order signed by a US District Court Judge and executed by DHS isn't a legal proceeding? FinCen Guidelines? You didn't even read the warrant, did you? |
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Enduring an assault by the Government on Bitcoin is an inevitability. If it passes the test, BTC will become a household name with widespread adoption. If it fails the test, it will be relegated to black market style dealings.
Really, the test has more to do with Bitcoin businesses doing everything on the above board. The Bitcoin protocol is fundamentally solid and good, and this is why BTC has a very large chance to survive.
If Gox lied about being a money transmitter in one account, what about all the others? The problem is non-trivial.
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