So the real problem is not "people want to get rich quick".
It is "exchanges want to get rich quick".
A proper exchange will make money no matter what. As long as there are trades being made they collect fees. They never lose unless they get hacked. Since Chinese exchanges are faking things up and collecting zero fees, I don't know why we should put trusts on two Slovenian guys. Do you really trust that they are "proper" exchanges?
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The words "controlled" and "crash" in the same sentence. It could appears together like "aircraft landing could be deemed as a controlled crash."
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Adam, time to change the poll, "<250 within 24hours" is pointless now.
Admin, why not create a poll like ">250 within 24hours"? Let's see how high the bounce could be? And will this be THE bottom? That moment when you realize that YOU SAW THE BOTTOM... Okay, I have to admit... ...finally you posted a nice bottom. But the legs are so so.
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Adam, time to change the poll, "<250 within 24hours" is pointless now.
Admin, why not create a poll like ">250 within 24hours"? Let's see how high the bounce could be? And will this be THE bottom?
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You can go to prison for market manipulation. Would they take that risk?
How could regulator justify their manipulation and enforce the law? They can destroy the trading data seconds after the crash. They can physically hide just like Snowden and enjoy happy life in Russia. The mentality of those exchanges are exactly "get rich quick". I don't think they have any moral standard working around.
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So the real problem is not "people want to get rich quick".
It is "exchanges want to get rich quick".
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In one month or two, Russia will face a huge wave of defaults triggered by low oil price, hyper-inflation and depleting USD reserves. First will be their oil companies, then banks and finally the sovereign debts.
The contagion will drag at least the Euro zone.
I didn't think that anything serves as a better hedge than Gold and bitcoin.
CNBC interview yesterday also mentioned this point of view.
In this big picture, it is temping to use bitcoin not only as an investment tool but also as a hedge towards possible Russian debt crisis.
In history, many notorious Black Fridays were triggered by Russian. Just cannot ignore this risk.
bitcoin is the really one dying, better mind your own businessI am so honored by trollers like you, registering a new account just to bash me in red ink. Thanks indeed.
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Can admin start a poll to survey member's opinion on this title?
I personally believe bitstamp started the dump to:
1) buy back the coins they lost at dirty cheap price 2) hide their suspicious trading activities in high volumes (due to 0 fee) 3) earn a large lum sum trading profit that support the multi-rig deployment and offsets the lost of customers 4) camouflage their own scandal and direct people's attention away from the incompetency of bitstamp to the crash of bitcoin price
Some counter ideas are also appreciated.
Watching this show on and on, I become to think the so called "whales" an "exchanges" are indeed the same bunch of people. There may be some big traders around. But only exchange can fake buy and sell orders, execute orders with faked fiat and see other parties' condition (long, short, account balance, trading frequencies, leverage levels, margin call price, etc.) crystal clear.
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Russia failed already 2 times in the last 25 years. Nothing will happen. Btw their economy is the size of Holland right now Lehman Brothers is way smaller than the GDP of Holland.The contagion effect is amplified by the modern financial derivatives. So many credit default swaps were written and sold nowadays. Even country like Greece used to cause so much trouble to the world, not to mention Russia. And this shows how big of a lilidot you are LB assets were 600 billions in 2008. Holland gdp is 800 billions. Please compare company assets to a country's total wealth. And compare company revenue to country's GDP. You were comparing orange to apple. At least i'm comparing something, You are mumbling fart noises. FACT 1 You're an idiot. FACT 2 Nobody gives a damn about a petrol station run by a mob , surface 1/5 of the world but gdp 2 times less than california FACT 3 You're an idiot. Once you entered into the "you are an idiot" quarreling, it means you really have nothing left to defend your argument.
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If Russian banks go bankrupt the Russian government will just print more money and bail them out. All countries just print more money if they are going bankrupt.
No, many corporate debts and sovereign debts are issued in USD instead of Rubble. Printing Rubble will decrease the exchange rate significantly and it still cannot help paying off the debts in USD. The only way is to default on all USD debts, once they are out of USD reserves and no one (i.e. IMF, WB or China) is willing to lend them USD.
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Russia failed already 2 times in the last 25 years. Nothing will happen. Btw their economy is the size of Holland right now Lehman Brothers is way smaller than the GDP of Holland.The contagion effect is amplified by the modern financial derivatives. So many credit default swaps were written and sold nowadays. Even country like Greece used to cause so much trouble to the world, not to mention Russia. And this shows how big of a lilidot you are LB assets were 600 billions in 2008. Holland gdp is 800 billions. Please compare company assets to a country's total wealth. And compare company revenue to country's GDP. You were comparing orange to apple. FYI, LB's revenue was $3.1 billion and Holland GDP was $782 billion in 2007.
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I am not casting doomsday prophecy and I am not the only one saying so. This is a forming consensus among economists and investors.
Just turn on your TV or read some WSJ or FT, you will find out yourselves.
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Russia failed already 2 times in the last 25 years. Nothing will happen. Btw their economy is the size of Holland right now Lehman Brothers' revenue is way smaller than the GDP of Holland. The contagion effect is amplified by the modern financial derivatives. So many credit default swaps were written and sold nowadays. Even country like Greece used to cause so much trouble to the world, not to mention Russia.
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In one month or two, Russia will face a huge wave of defaults triggered by low oil price, hyper-inflation and depleting USD reserves. First will be their oil companies, then banks and finally the sovereign debts.
The contagion will drag at least the Euro zone.
I didn't think that anything serves as a better hedge than Gold and bitcoin.
CNBC interview yesterday also mentioned this point of view.
In this big picture, it is temping to use bitcoin not only as an investment tool but also as a hedge towards possible Russian debt crisis.
In history, many notorious Black Fridays were triggered by Russian. Just cannot ignore this risk.
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Also, our team is moving our coins away from bitfinex so that they won't have enough coins to lend to the short sellers.
If everyone just follow our way, the short interest will keep increasing and squeeze the bears.
Your "team" eh? If you don't offer them for loans, they don't get loaned out. You don't know what you're talking about, failcoins. You are lying! The fewer people loan our their coins to the bears, the higher the short interest is.
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Also, our team is moving our coins away from bitfinex so that they won't have enough coins to lend to the short sellers.
If everyone just follow our way, the short interest will keep increasing and squeeze the bears.
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The V-shape bottom around 290 will disappear soon and we will march higher.
No bearwhale is dumping along with those retail bears. Time to buy the dip.
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It is highly likely that the same group hacked the bitstamp and DDOSed the coinbase. To manipulate the price and earn maximum profit, criminals can do anything such as trolling, stealing and hacking.
But the bottomline is: don't offend the national interests of the USA. If some terrorists hacked the nasdaq and NYSE, I assume that the US navy seals will hunt them to death.
Currently, bitcoin is a small cap market and Uncle Sam could't care less about it. But if one day it grows to more than $500 bn large, all the hackers will be sentenced just as terrorists.
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Could be jumping the gun here, but is Coinbase down? EDIT: It now reads this: Coinbase is currently offline No cached version is available. The most likely causes: The server is down for maintenance There may be a network problem The site may be experiencing excessive load Retry for a live version of the site We'll post updates on Twitter if the problem persists Down here too Ditto COINBASE IS BACK ONLINE NOW!
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Before coinbase' offline, some bears swear that the dump will begin in 2-3 hours. It seems each time any exchange got any problem, bears will always know it ex ante. Are they almighty god or did they attack the exchanges on their own?
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