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1821  Economy / Service Discussion / Re: Bitstamp TX Fee Exploit - Charge 1.16% instead of 0.2% without your consent on: May 08, 2014, 01:15:56 PM
Not sure this will satisfy davout but;  Wink


Bitstamp have updated their minimum order amount to $5:

Quote
Dear Bitstamp clients,

On May 15th, 2014 the minimum trade amount will be changed to $5.00.

Bitstamp’s accounting system rounds trading fees to pennies. To greatly reduce the impact of this rounding for our clients the minimum trade amount is being raised to $5.00.

The $5.00 trade minimum will apply to both our web interface and our API.

Best regards,
Bitstamp team

https://www.bitstamp.net/article/bitstamp-minimum-trade-changing-to-5/


1822  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 01:11:42 PM
Bitstamp have updated their minimum order amount to $5:

Quote
Dear Bitstamp clients,

On May 15th, 2014 the minimum trade amount will be changed to $5.00.

Bitstamp’s accounting system rounds trading fees to pennies. To greatly reduce the impact of this rounding for our clients the minimum trade amount is being raised to $5.00.

The $5.00 trade minimum will apply to both our web interface and our API.

Best regards,
Bitstamp team

https://www.bitstamp.net/article/bitstamp-minimum-trade-changing-to-5/

LOL, rather than do the correct fix.
1823  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 12:29:34 PM
Can someone clue me in here...

Is this just another pump led by the Chinese? or is this news driven?

From my understanding, some of the banks still have not issued deposit closure to the Chinese exchanges, but will at some point.
Could be that some traders see some advantage in having a large BTC balance in the Chinese exchanges after May/10.  E.g. to sell to other addicted traders as in OKCoin's broker mechanism. Or to sell to lazy and ill-informed clients who will end up with yuan trapped inside the exchanges and will need to convert them to BTC to get their money out.


What hogwash. So what do these sellers do with their yuan thats then trapped inside the exchanges after they have sold to the 'lazy and uninformed' (we'll forget the fact that they've been informed since december for now).
1824  Bitcoin / Bitcoin Discussion / Re: Bitcoin botnets - an article by The Cryptocurrency Times on: May 08, 2014, 12:07:25 PM
Interesting and also worrying..
How to detect and remove a botnet virus from a computer?
Malwarebytes?
There are so many Antivir and Anti-Malware-Programs out there. Just choose one.

Not going to be too effective, most botnets will disable anti virus and spyware. Couple that with constantly changing binaries and a large portion of antivirus software wont stand a chance.
1825  Other / Off-topic / Re: Oscar Pistorius case on: May 08, 2014, 12:05:42 PM
Yup I agree with that, I'm just interested to see if anyone thinks that it would have been as long if he wasnt famous. Personally I think even with money and good lawyers for the average Joe this case would have been laughed out some time ago.
1826  Other / Off-topic / Re: Oscar Pistorius case on: May 08, 2014, 11:39:57 AM


Lawyers are always going to come up with a defence no matter how illogical, but they have to work with what little they've got. I'm not sure the judge or jury will buy into it anyway, but obviously he needs to be allowed time to put forward his side of the story and everyone involved be cross-examined. As much as I think he's guilty everyone deserves a fair trial.

Yes everyone deserves a fair trial. However, do you think that the case would have been allowed to drag on for this long if he wasnt a high profile person?
1827  Economy / Speculation / Re: The New Moon for 2014 will be 1000dollars on: May 08, 2014, 10:12:22 AM


Funny how OP's post was ridiculed 2 months ago but now seems to be quite correct. The adoption rate appears to be slowing down and many people who bought at $1000 are hoping the price goes up so they can dump their coins.

They wont dump their coins that they bought for $1000 when it actually gets there though. That would be selling into a rally and something that most people cant/wont do.
1828  Alternate cryptocurrencies / Altcoin Discussion / Re: 0.5 btc freeroll poker tournament - register now!!! Informations inside on: May 08, 2014, 09:58:23 AM
This will only run if you have 100 entrants?
1829  Other / Off-topic / Re: Oscar Pistorius case on: May 08, 2014, 09:56:35 AM
I wouldnt expect the trial to finish any time soon. He's clearly guilty of shooting someone through a closed door without ascertaining who it was, bearing in mind his gf was no longer lying next to him. If it was anyone else they would be in jail by now. I will wait to see what the court says before passing a final judgment but his arguments are moronic.
1830  Bitcoin / Bitcoin Discussion / Re: Bitcoin botnets - an article by The Cryptocurrency Times on: May 08, 2014, 09:50:12 AM
Interesting. I would imagine that a mining botnet would be quite expensive to rent as unlike a ddos botnet people will notice that their PC is freezing and a weird process is is eating up cpu. These people could then re install their OS so I would imagine that the botnet owners charge a premium for renting one.

This also means that the operation has to be worth the cost in the first place, from what I can see it doesnt seem massively profitable unless you hold and the coin rises in value.
1831  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MRO] Monero - Anonymous Currency Based on Ring Signatures on: May 08, 2014, 09:32:35 AM
eizh: Will these changes help exchange owners that want to add MRO?
1832  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 09:21:10 AM
Its like the sell function on Houbi has been turned off.

Thinks. This reminded me to check the Stoch RSI. I forgot about that nifty feature.


My biggest question is this: who is going to sell if they can no longer short? Are people actually still on the exchange that are going to want their money out in the form of fiat? I can see people leaving the exchanges by removing their bitcoin. But are people in China going to permanently leave bitcoin, sell and take their fiat away, who have not already done so?

And will new mined coins still go to the Chinese exchanges if its difficult to withdrawal?
You have to keep in mind that the vast majority of Chinese bitcoin traders are professional shadow currency traders and market makers - they are not bitcoiners. They do not want a long term investment - they want to find somewhere else where they can do their HFT, run their bots, and such.

So Bitfinex?

Its not a simple proposition to transfer money from mainland China to Hong Kong - the $50,000 personal limit still applies, and there are also rules for corporates. Also one imagines that Bitfinex's KYC process might be rather more rigorous than those employed by Chinese domestic exchanges which might put some of the domestic Chinese off from using them.

I agree to a point, I dont think it would be too hard for the sort of market maker that TERA is referring to to circumvent that in some way. The issue of fee's is a valid one.
1833  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 09:11:35 AM
Its like the sell function on Houbi has been turned off.

Thinks. This reminded me to check the Stoch RSI. I forgot about that nifty feature.


My biggest question is this: who is going to sell if they can no longer short? Are people actually still on the exchange that are going to want their money out in the form of fiat? I can see people leaving the exchanges by removing their bitcoin. But are people in China going to permanently leave bitcoin, sell and take their fiat away, who have not already done so?

And will new mined coins still go to the Chinese exchanges if its difficult to withdrawal?
You have to keep in mind that the vast majority of Chinese bitcoin traders are professional shadow currency traders and market makers - they are not bitcoiners. They do not want a long term investment - they want to find somewhere else where they can do their HFT, run their bots, and such.

So Bitfinex?
1834  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 08:34:32 AM
The bulls are behind the train trying to push-start it again.

Yeah, this doesn't make sense to me. The "bulls" should already own bitcoin. And its hard to get money into the exchanges, so the "bulls" aren't buying new coins.

That's why I think this is short covering. I think shorts were taking profits as quickly as they could.

Unlike the rally last week, there is no selling pressure, no dumping. Its like the sell function on Houbi has been turned off.

About 1000BTC of shorts have covered on Finex as well but I think  a lot more of them could be covered if this continues.
1835  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 08:33:13 AM
Also with the Chinese exchanges having no leveraged trading and now fee's, why would they not move to a platform such as Bitfinex where they can leverage trade all they want.

If Huobi et al do stay open they will just become a ghost town following the other exchanges on nearly 0 volume. Thats whats great about a decentralised world currency  Wink
1836  Economy / Exchanges / Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading on: May 08, 2014, 08:28:42 AM
Yes I second the above, the feature is great but being able to zoom out a little more would be very helpful.
1837  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 08, 2014, 08:23:23 AM
Can someone clue me in here...

Is this just another pump led by the Chinese? or is this news driven?

From my understanding, some of the banks still have not issued deposit closure to the Chinese exchanges, but will at some point.

This can only be explained as short covering and irrational exuberance. There is no other explanation. Apparently, no one in the continent of Asia wants to sell their coins right now, so despite the fact that there is no new money with which to purchase them, shorts are covering (due to leverage trade banning) and money on the sidelines is buying the pump.

Do you have have data for Huobi swaps?

Longs have to close as well.
1838  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 07, 2014, 03:56:32 PM
Look at the Finex swaps, we're in for a short squeeze.
1839  Bitcoin / Bitcoin Discussion / Re: Two Chinese bitcoin trading platforms announced to close for the policy on: May 07, 2014, 03:48:00 PM
chinese central banks are not commercial banks. they are personal banks.

A country has one central bank. Except for the US, all countries' central banks are government owned. The central bank is the financial regulator for the entire country and its job is to be the government's banker.

All commercial banks in a country have to answer to the central bank. The central bank does not deal with individuals. It is not a commercial bank or a personal bank.

China's central bank is called the People's Bank of China or PBoC.

All of the above is stuff you learn in a basic economics class.

Not quiet all correct, in a basic economics class you would have learnt that the Bank of England is also privately owned in much the same way as the US Fed Reserve Wink

If your basic economics class was held after 1945/6,  you would have learnt that the UK Government nationalised the Bank of England then, and hold all the shares.
http://hansard.millbanksystems.com/commons/1945/oct/29/bank-of-england-bill
http://www.bankofengland.co.uk/about/Documents/legislation/1946act.pdf


I must admit I wasn't aware they were completely gov owned. I thought they created a separate company that held shares for heads of state and other such bodies.
This company was then part of the official secrets act?

Plus theres this "However even though the Bank of England is now state owned its important to note that up to 97% of the UK’s money supply is privately controlled being in the form of interest bearing loans created by the big commercial banks."
1840  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: MRO Monero trading thread and OTC xchg (bid 90 ask 148 last 97.1) on: May 07, 2014, 03:17:11 PM
WTB    0.000905 / 552  / .5 BTC
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