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1541  Other / Beginners & Help / Re: mtgox is it a mountain, like Fuji-san? on: January 04, 2012, 07:59:26 AM
Fuji-sama is a wonderful place (I like she is a her).  mtgox isn't anywhere near as beautiful.
1542  Economy / Long-term offers / Re: Looking for lenders on: January 04, 2012, 03:53:20 AM
Wow, the first public NON ATTACK on me.  Smiley

I wasn't a first-adopter, but risked some coins to someone I didn't know.  I now have quite a bit tied up and look forward to the interest payments.  Long may it last.

Thanks P@40 from the starfish.
1543  Economy / Long-term offers / Re: Looking for lenders on: January 03, 2012, 11:21:52 PM
My misunderstanding then.  I was under the impression that once coins were in, they were in, and it was only in the later rounds of funding that the election would take place.

No, at anytime if a lender is in a higher place (by account age) they you can force lenders out.

No problem.  Smiley

Back at day job, but at least I'm still enjoying summer.
1544  Economy / Long-term offers / Re: Looking for lenders on: January 03, 2012, 11:16:40 PM
My misunderstanding then.  I was under the impression that once coins were in, they were in, and it was only in the later rounds of funding that the election would take place.
1545  Economy / Speculation / Re: Arbitrage opportunities on: January 03, 2012, 10:23:35 PM
Having the right funds in the right place at the right time.  Also, patience is necessary.

General observation is that newer exchanges have the better opportunities than the larger/more established exchanges, and that some currencies are better than others (libertyreserve dollars for instance).
1546  Economy / Long-term offers / Re: Looking for lenders on: January 03, 2012, 07:29:42 PM
Some space available today (about 450 at time of writing).  I've got my target investment here so quite happy.
1547  Other / Beginners & Help / Re: If sky was the limit - how many bitcoins would you buy? on: January 03, 2012, 01:06:35 AM
about 5%
1548  Economy / Currency exchange / Re: Mt.Gox out of cash??? on: January 02, 2012, 09:52:23 PM
Welcome to the club - I got the "use another method" response for my LR request after 15 days of waiting, but I wasn't keen on the extra 5% fee.
1549  Economy / Long-term offers / Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day on: January 02, 2012, 08:01:11 PM
Just to play with the numbers, can we have a loan of 50,000 coins for a year - that should require a repayment larger than the total number of coins that will exist on 31 Dec 2012.

I can see a use for these short term loans - might also be useful to have short term funds in other exchange currencies as well.  I missed a $0.98/coin arb waiting for funds to move from one exchange to the other over new-year.
1550  Bitcoin / Legal / Re: Interest on deposits on: January 02, 2012, 08:07:48 AM
I have a loan contract paying interest denominated in AUD between myself and a private individual - it is currently over due.  My legal advice (about $5k worth) is that it will cost me $15,000 to proceed with bankruptcy in the local courts.  It is not regulated as a loan, but is covered by law.
1551  Economy / Marketplace / Re: [VOTE] Time to Vote for your Bitcoin Favorites of 2011! on: January 02, 2012, 02:50:20 AM
Was there a clean-up of the nominations?  Some of the ones I saw last week are gone - just curious.
1552  Economy / Trading Discussion / Re: Accusations against shakaru on: January 01, 2012, 08:12:59 AM
I think defamation has been described elsewhere on the boards, but you need to prove that it was a false belief on the part of the defaming party.  If someone honestly holds a belief, then that is typical defense.  The last 16 pages might go some way to explaining why particular view is held.
1553  Economy / Goods / Re: Used XFX 6990 cards - large stock on: January 01, 2012, 03:25:07 AM
Catching up on this thread (it's been a while).  A perspective that is glaring:

The price Goat wants is unrealistic, and even with the entry of the 6000 series, the 5000 series were still good cards and cost real money.   I wouldn't expect good hashing cards to suddenly drop in price.  Brow-beating Wynand here isn't going to help your cause any.

Wynand has cards to sell, has set a price and sold some.  He doesn't have to provide extra information like the store he's dealing with.

In the absence of willing seller and willing buyer, don't do a deal.  If you guys ever did, I would expect another astana-style thread to pop up very quickly.
1554  Bitcoin / Bitcoin Discussion / Re: the core problem when using Bitcoin for international money transfers on: December 31, 2011, 10:35:07 PM
Thanks, Revalin. I think this makes more sense now. Still, I think that my comment above about Occam's razor still holds.

One entity needing to make large transfers pay lower fees than if many entities (the general populace) needs to make many small transfers.



Yes, I've been in that position before, and you do get better rates when you start moving to $100k-$1m, but the banks still take a hefty fee.
1555  Economy / Speculation / Re: Warning to the bulls... on: December 31, 2011, 08:59:43 PM
They represent the active trades that have actually taken place on gox. I.e. if I buy 1btc, someone who has an unfulfilled ask sitting on the order book sells me the 1btc, but it is the 1btc buy that is being counted as the initiating trade not the other way around. If you post an order for a price that is not currently available, it will sit there until it is fulfilled. And it is the fulfilling order that is counted.

What is that supposed to imply?

I guess if you have time to wait you post an offer and if you care less about price and just want asap you go to the market. So recently the sellers have been more impatient?

I'm not trying to imply anything. That post was in response to PatrickHarnett's question.



Thank you.  It may  or may not be a relevant metric, but interesting that you have captured the data.  Time series analysis can be fun, but it also might be random, or a sentiment of the general movement of the trading.
1556  Economy / Speculation / Re: Warning to the bulls... on: December 31, 2011, 03:34:22 AM

[/b]
21/12/2011 15:53 - Bid (buy) Volume: $92607, Ask (sell) Volume: $108854 => Net $16,247 sell
22/12/2011 23:58 - Bid (buy) Volume: $83754, Ask (sell) Volume:  $188171 => Net $104,417 sell
24/12/2011 11:52 - Bid (buy) Volume: $124414, Ask (sell) Volume: $159448 => Net $35,034 sell
25/12/2011 16:00 - Bid (buy) Volume: $116765, Ask (sell) Volume: $143122 => Net $26,357 sell
26/12/2011 13:30 - Bid (buy) Volume: $134398, Ask (sell) Volume: $188173 => Net $53,775 sell
27/12/2011 23:59 - Bid (buy) Volume: $166066, Ask (sell) Volume: $193020 => Net $26,954 sell
28/12/2011 05:45 - Bid (buy) Volume: $174779, Ask (sell) Volume: $198527 => Net $23,748 sell
29/12/2011 21:20 - Bid (buy) Volume: $203902, Ask (sell) Volume: $228877 => Net $24,975 sell
30/12/2011 23:59 - Bid (buy) Volume: $203871, Ask (sell) Volume: $334398 => Net $130,527 sell

From the data above, you can see that over the past 10 days there has been a net selling activity of $442,034, yet somehow the price has stayed at roughly the same level. There has not been one single day where the buy volume in dollars has exceeded the selling volume in dollars.

Interesting set of numbers.  Given every buy is matched to a sell, what are these numbers? It's not total gox depth (BTC or USD). 

For example, there are buy orders for 27 million coins ($700k) and asks for 234k coins (some stupid number of $).  Last 24 hours 43000 coins for 180,000.
1557  Economy / Marketplace / Re: Bitcoin 2011 Awards - Come on in to Nominate on: December 31, 2011, 12:12:10 AM
I've done one nomination, but it does look quite easy to delete everything.
1558  Bitcoin / Bitcoin Discussion / Re: the core problem when using Bitcoin for international money transfers on: December 30, 2011, 08:03:54 PM
I think you should look at the buy/sell spreads of the banking systems of different countries.  Locally I get about 6% spread, but in Australia banks charge closer to 15%, and those airport travel kiosks are higher (I've seen 40% for USD).  Transferring bitcoin at the trading mid-point meand I get 3% more, and the other end also gets more fiat.

As for the currency imbalance, yes, that counts, and is normally recorded in a country's balance of payments.  For a small volume of Bitcoin it will not make much difference, but if it grew (say a few billion) then it would start destabilizing the local fiat.  If the currency markets work properly, then it would adjust to reflect the purchasing power parity of the currency, but the local government might not know why the money flow and flow of goods were out of whack.

For an extreme example, consider a fictitious country selling tractors as their only export and they suddenly all get purchased in bitcoin.  There are now a lot of bitcoin in the local economy, and people want to buy food with them and the local currency.  You need to exchange them, but ultimately, someone has bitcoin and will send them back overseas to a country where they can get something they want.
1559  Economy / Marketplace / Re: WANTED - Bitcoin Sellers! Many Open Orders Needed to Be Filled on: December 30, 2011, 05:02:50 AM
Took some time to update the tool I use to track exchanges and rates and Crypto is showing a nice selling premium, but not the best one out there.  Currently telling me I have a 6% trade opportunity, but not worth the effort for a $60 return, but there is another one hiding that I might do tomorrow (only $100 of depth, but over 10%).  I don't trade bots/apis etc, takes away too much of the fun.

The time taken to move funds around, and the fees still serves as a deterrent, but I have some AUD sitting in an account doing nothing, but transferring across into USD is still a pain.  Might wait until the New Year banking holidays pass.
1560  Economy / Trading Discussion / Re: Accusations against shakaru on: December 30, 2011, 04:37:13 AM
It might be worth re-reading page #1 again where it says 1600 refunded via paypal, and as there is a dispute, it is in the paypay system as has been mentioned several times.  And page one is also where the claim is made that Astana wanted both the GPUs and the 1600.  So he wanted them for free - not good business.
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