Pirate is one person acting on behalf of, and in conjunction with numerous others. For your claim of manipulation, everyone invested with Pirate is complicit. If other large players would've dumped above $10, would you claim they're manipulative as well? And if others were to drive the price down, it would help Pirate, not harm FPS&T.
If you are customer of a bank that committed a fraud then your not complicit to that fraud. People can sell large amounts of coins whenever they want but not do so in a way of trying to manipulate the market by telling other regular traders you are going to lower the price and encouraging them to sell also.
|
|
|
I think he has scared off a lot of new money coming into bitcoin for a few days with his show of price manipulation.
Good! Would you want another grueling six month decline after an unsustainable bubble formed on nothing but vapor? Do you think any business would touch Bitcoin at that point, even those that are enthusiastic about it? Long-term investor exhaustion is much more dangerous than short-term trader tantrums. Lasting wealth comes from the former. I think I would have rather settled with the new money coming into bitcoin. There was no vapour this time just growth and the market is more mature. I think lots of other larger actors would have started dumping post $10. This was just Pirate trying to protect his HYIP. Yes I would prefer steady growth but not at the cost of market manipulation.
|
|
|
Weather pirtate is about to get short squeezed or Hes trying to keep the price stable, to make bitcoin more attractive to new comers They're Both Bullish signs I think doing that publicly will only scare off new investment into btc.
|
|
|
pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7
Not really. If anyone understands that a growing market can't be manipulated down in perpetuity, it's Pirate. The objective is not to keep forcing prices lower, only to stabilize. The previous weeks were punctuated by an early rise, then leveling off for the duration. That kind of stable growth is critical for businesses to be comfortable with using Bitcoin as a primary financial service. The market is already to big for him to control it.
Again, there is no need to control it - only influence. This is a stabilization effort by a heavily invested party attempting to maintain the quality of the investment. What's happening is similar to gold, only gold is viewed as a limiting factor by financial industry participants whereas Bitcoin is viewed as a liberating factor by the equivalents. JPM is the traditional financial giant, viewing gold as a mere trading instrument that limits its flexibility. Pirate is a Bitcoin financial giant, seeing the system as a vehicle that enhances economic potential. This requires a perspective shift - the old paradigms do not properly apply here. Meh, when push comes to shove is Pirate (or his heavily invested party ) really going to take money out of their pocket to keep the price "stable"? jump to 9.50, back down to 7.50, and now 8.50 ya really good job stabilizing the market. Ah, but the real question you need to ask is did it stop a larger price increase from happening? Without intervention, whose to say that the price wouldn't have jumped far past $9.5. With the steady climb today, it looks as if it's stable to me. Stable does not mean stagnant always. I think he has scared off a lot of new money coming into bitcoin for a few days with his show of price manipulation.
|
|
|
I think this does show Pirate is getting unnerved by this growth in the BTC/$ value. I expect him to decrease interest rates in his HYIP if prices go above $9 again and stay there at the least. In the worse case he disappears with everyone principles and people start telling you "I told you so".
|
|
|
As repayment for the miners lost coins maybe he should opensource his software. So it can be improved and others can run it and the miners can still have merged mining payouts.
|
|
|
It looks like we should have enough coin saved from the FPGA mining to pay the import tax of the 40GH/s ASIC and purchase RSM its own cheap PC (with warranty) within nine to ten weeks at current mining difficulty and exchange rates. That's at least three weeks before the 40GH/s ASIC will ship. We have currently sold ~1800 shares so excluding the FPGA we will be at 22.2MH/s a share. So all profits will be saved from the ASIC to quickly purchase another as I expect the first three months of ASIC to be the most profitable and we paid for ours within two weeks of pre-orders starting. That would take us to 80GH/s over ~1800 shares or 44.4MH/s a share. Once we reach that figure a decision will have to be made on what on what amount of profits should be saved towards more ASIC's. The more profit that is saved the faster the dividend will grow and secure RSM future. As according to Moore's Law the ASIC speeds should double every eighteen months. The other plan was to issue 1700 new shares selling 2150 in total from RSM holdings to purchase four more 40GH/s ASIC which would take us 50MH/s a share. Tho the investment doesn't look like its coming. If we'd have stuck with the original plan of buying GPU's and paying all profits out in dividends then RSM probably would have had to shut down in October. With us managing to get a refund on one of our long awaited FPGA's we were able to make the inital purchase of our first ASIC. Now with us saving everything we've got until we are operating at >40MH/s a share post ASIC RSM has a secure future. If the BTC/$ value keeps rising then we will have to increase the 40MH/s a share offer. So while we are not currently paying a dividend all profits are going toward more hardware. The current wallet is about ~BTC26 and I will update the public spreadsheet tomorrow.
|
|
|
Thanks looks long but I'll probably watch it. That first link the short video makes me want to almost buy a Kim Jong-il poster
|
|
|
Anarchism can only be implemented once technology has rendered capitalism obsolete. Otherwise you are just handing direct control to the top 1% of wealth holders. If we was living under anarco-capitalism then I'm sure the top 1% wealth holders who were in control would have an elected council so the plebs, peasants and serfs felt like they had a voice and wouldn't revoult. Tho that elected council would be rigged so only supporters of the top 1% of wealth holders could come to power. The top 1% of wealth holders would use there control of the media and banks to make that happen. Sound familiar?
|
|
|
I do believe the FED could collapse the dollar and every major trading fiat currency in the world within seven days if it wanted to. Tho if you look at the US they have pretty much everything they need within its own continent/country and they also have the worlds largest nation/state gold reserves. If they wanted they could shut the doors on the world with there own now local currency and go isolationist again as they were before the invention of the Federal Reserve. Tho if you look at the overpopulated island of Great Briton which is probably the worlds fiat financial hub then if the dollar or euro would go then the pound would follow it. As the UK sold over 50% of it's gold reserves for fiat investments just before the modern rise in the price of gold after 2003. That is why I think Cameron's possible referendum on UK membership of the EU is very dangerous for the UK. As without German and French support post fiat the UK peoples would starve in poverty even tho it's a playground for billionaires with it's suitable tax laws for the super wealthy.
|
|
|
Start a secure browser session. Go to - https://www.bitaddress.org - disconnect from the internet. Reload page then print off as many copies as you need.
|
|
|
I contacted "The Lawful Bank" - http://lawfulbank.com/Welcome - a kind of national credit union trying to start in the UK (credit unions are a bit different in the UK from the US) and they seemed interested in accepting bitcoin deposits.
|
|
|
Greater than a decade, if it lasts that long.
+1
|
|
|
Litecoin will have its day. Unfortunately just not today.
LTC had it's day, and it was almost literally a day. RIP LTC. No, the market is much healthier now. Mining is no longer 100% more profitable than bitcoin, the price is stabilizing and the network hash rate isn't going crazy but it is going up. The most important thing is that the number of buy orders is still 1.4k BTC, almost as high as it was last week. People are taking LTC more seriously now and want a bigger chunk of it if the price falls. I expect the price will climb over the next 3 months slowly. I agree the price is still up more than $0.01 from before the rally and in litecoin terms that's a lot.
|
|
|
you will keep 10% ?
Seems so. Disclosure: I keep zero. Only of the shares. The shares pay no dividend and just offer voting rights in the Charities motions. 90% of the funds profits will be reinvested (to be reviewed as the fund grows in proportion to the exchange market) while the rest will be donated 50:50 between BTC/LTC/NMC promotion and development, and the other 50% to tech charities that accept bitcoin donations.
I offer to donate my time totally free of charge for the first twelve months and until if such a time when running the charity becomes a lot more time consuming. Then in the future any costs of running the charity will be decided by motion. I will always be keeping 10% of the shares in the fund myself. The shares pay no dividends and just offer voting rights in the charities motions. All accounts will be made public.
|
|
|
you will keep 10% ?
Seems so. Disclosure: I keep zero. Only of the shares. The shares pay no dividend and just offer voting rights in the Charities motions.
|
|
|
from @KimDotcom Megabox is coming within the next 4-6 months. We are making good progress. This innovation is going to make a lot of people happy! from @coinlab to @KimDotcom We can make a custom-branded MegaBox bitcoin-mining client. Your customers can earn songs with their idle computers. Emailed you Something very interesting is about to happen They'd make a lot more web-mining for LTC as most people will be mining off there CPU.
|
|
|
How do you update it and ensure that all the versions are consistent? You can run your own server, too. That's what I thought Maybe some kind of gpg-keyring
|
|
|
|