Indeed time to begin, but probably not only short term for me.

So, "good news" guys, how do you explain all of this despite the "good news"? Learn to realize it, markets are made up of people and people make up their decisions according to their emotions which in turn is the lense for EVERYTHING external!

While indeed I mostly only delete absolute spam/nonsense, I'm not convinced that the way the forum is now it's suppressing more valuable exchanges of ideas. I think there's lots of good discussions going on with no problems in various threads, and the Wall Observer is left by me to soak up most of the "chat".

If I do change something, then I think I'd rather be more strict about deleting bad content than creating another forum.

Are you guys aware that there are over 32k BTC stuck in MtGox withdrawals?

http://thegoxreport.com/

You know that there is no "John" Winklevoss? They're named Cameron and Tyler. And why would you believe this is an account of theirs in the first place?

http://www.reddit.com/r/Bitcoin/comments/1wikm1/congrats_on_reaching_100k_rbitcoin_please_enjoy/

Nice!

I'm sorry if people took me seriously, it was fun for me, and I like triple digit Bitcoins. It was my way of managing expectations, and I wanted to point to the possibility of this. If you care to know, I've never shorted it and I still don't. Maybe I will reconsider that stance in quintuple digits.

The question nowadays is keeping the fortune, that is where the skill is involved. No risk management and soon it can be poof. I realize that many people here believe there is absolutely no risk to Bitcoin long-term though.

edit: Yes, I was a pure troll at that time, was having too much fun there agitating people. Same way I trolled the bears in Winter 2011 who were shorting on leverage via Bitcoinica. Maybe I need a disclaimer in my signature that I am not to be taken seriously sometimes?

Yes, exactly. Even if you initially intend to hold "long-term", if you don't have some form of risk management, there is too great a chance your mind will slide from Bitcoin illusioned to Bitcoin desillusioned purely because of a bear market – after all, it was merely a bull market that led you to the other opinion in the first place! – which creates a risk that even if you end up being correct in a few years, you will have sold out near the bottom and forsaken Bitcoin.

The importance of managing your expectations in order to have the ability to execute your plans is incredibly important IMO.

By the way, the flattest long-term support trendline that is being drawn nowadays, even though it is much less steep than the one drawn in 2011, still has the price doubling every couple of months. It would not be too difficult to go below it given enough time.


Sure, if the money is nothing to you to begin with or it is easily regained from income, then there is less worry in the first place and you won't have to care.

This is the great delusion that markets bestow upon people, that a trend is invulnerable and "it all works out in the end" almost sounds like religious faith. I know that nothing I can say could possibly make you think otherwise, but still, please consider how you would react if Bitcoin slid 80% or 90% from here during the next 6 months. Even if the probability is small, are you ready for it?

Because this has happened before, and it happened in this very asset (even if you tell me that times are "different" now – well, to compensate, the price is higher to begin with!). I remember that time well. At the time, there was a long-term log support trendline, too, that was being drawn by everyone in this forum. It was violently BROKEN:



And guess what? That break ended up being the best time to buy. But few bought, for few had money to spare, and many of those who did have given up on Bitcoin. I will tell you that all along this decline, there was plenty of good news as well. I believe Bitpay was created amidst the bear market for example.

All I want to say is that eventually, all trends break. Prepare yourself for the improbable, because it is devastating to lose almost all of your wealth. Do not let your mind be compromised by Bitcoin cultists. Let this be a lesson from a former Bitcoin cultist who has made a fortune off Bitcoin by turning himself into a Bitcoin pragmaticist.

MtGox has a combined currency order book. At 2.5% difference from current price, the order book is mirrored. If "foreign" liquidity is used, then the currency will be converted.

Now in the case of JPY, obviously there will be not nearly enough domestic buyers to match the Japanese arbitrageurs' selling. As such, USD can actually flee in this form, as long as a profitable price premium persists. The Japanese sells at a high price to withdraw, and the buyer hands over USD that are converted to JPY by MtGox.

Voila, Emptygox.

Boy, you are on a run today. Doing your usual damage control?

I'm not up to speed. How many BTC have the US confiscated from Bitinstant (if any)?

Trust me, once you're there, you will be working to keep it and acquire more. Also, money won't change you or your life as much as you think. It is certainly an "enabler" though.

You will most certainly continue browsing this forum.

How long did this particular withdrawal take?

You forgot about slippage.

That's 1.2%. Wouldn't even be worth the fees and slippage.

The spread HAS closed for a good time in the past months – and not for the first time. Now it is opening up again, a lot. We need a % deviation historical chart to analyze this.

Nothing, that channel of arbitrage works afaik. SEPA (I hear up to 5-6 weeks) and JPY (I hear up to 1-2 weeks) have some delays as well though. SWIFT on the other hand will never go through, as the queue dates back more than half a year and it's growing.

At least for EUR, this is not true. SEPA withdrawals have always taken weeks, long before any sort of SWIFT problems surfaced.

I think scamcoiners should deal with the fact that the staff here doesn't really like them all that much, and for a good reason. Almost all of them are fads.

The altcoin section has recently been granted subforums – something that wasn't intended or planned, so in my view, you guys really have nothing to complain about.