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1721  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: January 01, 2015, 07:24:27 PM
...
The inside job only points at ONE person IMHO. Mark Karpeles.

It seems strange that Mark should come out, before the news story, and suggest that their on the trail of the thief and people may get their bitcoins back, if he's the thief and about to be caught and knows there are no coins to be found. Surely he's not that much of a sociopath?

It's a common practice to present a decoy when you're caught red-handed. The gag order? The tweets? I mean REALLY??
Anyway; we'll know soon enough.
1722  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: January 01, 2015, 06:18:38 PM
News from 12 hrs back:

Quote
No suspicious account ... Bitcoin purchase record balance increase
The Yomiuri Shimbun January 1, 2015 (Thursday) 15:04
残高増える不審口座…ビットコイン購入記録なし
(Yomiuri Shimbun)
In virtual currency "Bitcoin (BTC)" Mt. Gox company ran a trading site of on the Internet, the presence of suspicious account has emerged.

For the disappearance of huge amounts of BTC, the company has been argued to be due to cyber attack ever, there is an increasing doubt was due to incorrect operation of the system. Metropolitan Police Department, of suspicious account transactions is seen to be the key of the incident elucidation, is advancing the investigation.

According to the investigation officials, suspicious account, by restoration of the company's server recording by the Metropolitan Police Department, was discovered. What person when, whether it is unclear opened.

In this account, even though there is no record that you purchased the BTC, had suddenly, the balance increases. That is suspected of transactions using the BTC that is transferred from the customer's account has been repeated.

http://translate.google.com/translate?hl=en&sl=ja&tl=en&u=http%3A%2F%2Fnews.goo.ne.jp%2Farticle%2Fyomiuri%2Ftrend%2F20150101-567-OYT1T50032.html
1723  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: January 01, 2015, 06:02:39 PM
I think this has taken a turn for the better. Although in terms of how many of my bitcoins I will get back- I suspect it's taken a turn for the worse.

I wouldn't be so certain about it. If it's proven that there were nothing more than fake transactions on MtGox, most probably, those transactions will be out of the case. I personally don't believe that MtGox ever possessed 800K *REAL* BTCs, even if MK claimed they had 1M clients registered. Most of those accounts were not verified or/and contained nothing. Also, 600K is an enormous BTC amount to either steal or fake. The inside job only points at ONE person IMHO. Mark Karpeles.
1724  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 10:24:00 PM
Happy New Year Bitcoiners. May the math be with us! Grin
1725  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 05:54:22 PM
Another contribution of Blockhead Blockchain.info to that P(software is buggy) factor:
https://bitcointalk.org/index.php?topic=40264.msg8891379#msg8891379

Jorge, for sanity's sake, if anyone wants to make a paper wallet he better clear the browser cache right after that. Also if he's paranoid enough (like me for instance) he'd use an ubuntu bootable cd and do it from there. Just saying a couple of options to let you know what a sane person would do if he wanted his paper wallet safe.

Happy new year. Grin
1726  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 02:17:34 PM

5th amendment Cheesy to the filing this time I guess the juicy part was them outlining the shares to be sold. I wish the process would have a better time it will take the SEC to approve/disapprove

So is it approved yet?

I have no fucking clue, thanks to the vagueness of everything.

Typical Wall Street

If you read in the main sec.gov COIN page:

Filing Date
2014-12-31
Accepted
2014-12-30 21:10:03

Documents
14

So, I guess it is already accepted and nearly ready to launch.
Hore Shet meme

If this is the case, I must prepare my CCMF pics... Grin
1727  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 01:24:45 PM
But have fun chasing it down. Donīt let me bother you.

You know how people are; chasing dreams all the time. Don't ruin it for us all fools here. You outsmart us all anyway. Thank you for your contribution anyway. Kiss
1728  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 01:21:56 PM
In other words, itīs some sort of a scam. A ponzi scheme if you will.

Ah, now it makes sense.  Grin
1729  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 01:15:01 PM
This is called inverse correlation

And what about the factors that I represented? Supply and Demand? Maybe your analysis is true, but everything here is speculated and works on trust and buy/sell of these coins, if I'm not wrong on my side... Wink

EDIT: Did you mean that the sudden decline from last year is due to the increase in the usage of highly parameter-ed mining equipments that people are using today? I believe that during those days too, people were mining and hashrates were high then too...

Also by inverse correlation you mean the price will go to zero? Or will there be an equilibrium? Excuse my ignorance, I'm too fool to understand your theory here...
1730  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 12:55:01 PM
Estimated Next Difficulty:   43,716,692,155 (+7.57%)

$250 by March.



I presume you don't correlate the hashrate with price; right? Because when the previous rally started it was right after the hashrate surge... you know, just sayin'... Grin

What previous rally ?

This thing is down 50 per cent over the last six months.

I'm sorry, I didn't notice you were not here last year.
Quote
Date Registered:   2014-07-25, 13:14:49

Last year ? Come on, LOL. Difficulty has gone up like 3000% since then.

Oh, LOL, yes you're so right. How did I miss that? Grin
1731  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 12:28:38 PM
Estimated Next Difficulty:   43,716,692,155 (+7.57%)

$250 by March.



I presume you don't correlate the hashrate with price; right? Because when the previous rally started it was right after the hashrate surge... you know, just sayin'... Grin

What previous rally ?

This thing is down 50 per cent over the last six months.

I'm sorry, I didn't notice you were not here last year.
Quote
Date Registered:   2014-07-25, 13:14:49
1732  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 31, 2014, 12:15:15 PM
Estimated Next Difficulty:   43,716,692,155 (+7.57%)

$250 by March.



I presume you don't correlate the hashrate with price; right? Because when the previous rally started it was right after the hashrate surge... you know, just sayin'... Grin
1733  Economy / Exchanges / Re: [ANN] KRAKEN.COM - Exchange Now Open with USD, EUR, BTC, LTC, XRP, NMC, XDG on: December 31, 2014, 11:03:26 AM
Hi Dargo. Just a short question. I already maintain an account in Kraken and I'm eligible for a refund for some (4 something) BTCs I had into MtGox by the time it went black. Do I need to correlate those two accounts in some way, in order (in the rare case we get some or all of our btcs back) to be withdrawn there?

Thanks.

There are some details of the claim process that haven't been settled yet. But if your claim is paid in bitcoins, then most likely you will need a Kraken account (either create one or use an existing one) to receive the approved claim amount. The two accounts will need to be matched up in some way, but the exact procedure for doing this hasn't been announced yet. The announcement will come from the trustee and I'm not sure when it might be made.

Thanks for the prompt answer. I wish you guys all the best and a very happy new year. Smiley
1734  Economy / Exchanges / Re: [ANN] KRAKEN.COM - Exchange Now Open with USD, EUR, BTC, LTC, XRP, NMC, XDG on: December 31, 2014, 12:21:39 AM
Hi Dargo. Just a short question. I already maintain an account in Kraken and I'm eligible for a refund for some (4 something) BTCs I had into MtGox by the time it went black. Do I need to correlate those two accounts in some way, in order (in the rare case we get some or all of our btcs back) to be withdrawn there?

Thanks.
1735  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 1. GCoin [GCN] Unique & Wide Distribution! Have Fun & Earn GCoins Without Mining on: December 30, 2014, 06:18:43 PM
Apple's policy drove me to go for an android after my iPhone4s. Sure, they offer stability, security etc etc, but their policy is WAY far developer friendly. On the other hand, they tend to promote their own payment system/wallet nowadays, so expect nothing sometime soon. Sad

PS:
Happy new year from me too! Smiley
1736  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 30, 2014, 10:20:32 AM
This thread has become a beartrollfest. I'll come back when LambTroll is around. He's the president. Grin
1737  Economy / Services / Re: [AMHash]Earn up to 0.1B a month[30 slots][Signature Changed] on: December 30, 2014, 10:16:25 AM
Sig updated. Smiley
1738  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: December 29, 2014, 08:00:39 PM
I was not referring to MtGox per se, but on the process of transacting with fiat/bitcoin or vice versa through an exchange. If I had a say through the regulation process, I'd propose the obvious:

If no transaction is on the ledger, it must be declared as illegal and the person(s) involved should be hunted down for a fraud.

Simple as that.

Well, that may make sense from the bitcoiners' perspective; but society as a whole would see no reason to pass such a law. Transactions off the bitcoin blockchain, governed by private or public contracts, have been going on for millennia, with the support of escrows and notaries, and the backing of laws and courts; and no one sees that as a problem that needs fixing.

But, on the other hand, bitcoin exchanges should be subjected to the same regulations and audits that apply to stock exchanges and banks.  Those regulations were created precisely because stock exchanges were going through the same problems a century ago.

An alternative to government audits could be to make bitcoin exchanges transparent, i.e. requring them to publish the identities of the parties in each trade.  However, there are still many sleazy tricks (like front-running) that the exchanges could pull on their clients and would not get exposed by such transparency.

EDIT: The exchanges have a good excuse for recording trades off the blockchain: traders would not accept having to wait for confirmation on the blockchain.

One of the problems that bitcoin -as a means of transaction, or if you prefer, store of value- came to overcome was the human ''ability'' to treat himself right when others aren't watching. There's a reason for that. Greed has been moving the previous/current monetary system around since the beginning. Certain ''authorities'' had the ''ability'' to serve themselves the best steak and nobody could say differently, because they were powerful enough to shut the mouth that yelled.

Human greed though, invented new ways to overpass the one and most important aspect of bitcoin. The greed elimination was implemented via mathematical encryption. BUT THEN... We invented Exchanges, which can transact without having to post on the ledger (yes, 6 mins confirmations are a fine excuse) and thus ''creating'' money out of thin air. Which is what bitcoin came to eliminate in the first place.

From the bitcoiner's perspective, I'm pro regulating and transparenting ALL exchanges. Sure, they have no reason to put things to the ledger right away - but there are A MILLION ways to put it there, right after the transaction has been done and nobody would care if it's online even 3-4hrs later (if not minutes).
1739  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: December 29, 2014, 03:11:20 PM
THERE'S NO ONE TO BLAME, because it's not illegal!

That is not true, the Japanese courts have already recognized that the claims of the ex-clients against MtGOX have merit (although the way the claims will be evaluated is still highly undefined, as I pointed out to exhaustion here), and Kobayashi has asked the police to investigate something (not clear if the investigation will look into the 660'000 missing ones, or some other fishy things that they found in the books).  In the two scenarios that I just suggested, crimes would have been committed for sure, even if the trades of clients inside MtGOX are considered irrelevant.

I was not referring to MtGox per se, but on the process of transacting with fiat/bitcoin or vice versa through an exchange. If I had a say through the regulation process, I'd propose the obvious:

If a transaction is NOT on the ledger, it must be declared as illegal and the person(s) involved should be hunted down for a fraud.

Simple as that.
1740  Economy / Exchanges / Re: MtGox withdrawal delays [Gathering] on: December 29, 2014, 02:27:06 PM
We all seem to forget one crucial parameter here. ALL the transactions happened OFFLINE. That means they were (from a point and beyond) nothing but SQL entries and/or algorithm based. You can pump n dump anything this way (which I think what was happened in the MtGox case) and there's a bonus!

THERE'S NO ONE TO BLAME, because it's not illegal!

The worst part on this though, is that the majority of the Eastern exchanges are working under the very same conditions. I will leave a blank spot for the EU/USA ones since they have money transmitter licences. Greed is the ruler here. It's a matter of time when we witness the next similar big bang. For that matter, who knows if it's not happening as we speak? What's the main reason that the price is being kept at these levels when last year with half of the good news we'd go over $2000 by now...
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