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Which of my my worthy knights wants to be the first into battle?
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Currently waiting to transfer flights in Europe, this week should be fun.
Show those bears who's the boss here! They were very rampant when you are away.  |
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I deliberately redistribute several coins back when we were at near $60, three days later somebody seemed to want to give them back to me at even lower prices, never mind, i would just take better care of them than you.  |
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I always enjoy Proudhon's posts and appreciate the consistency of his message.
Single Digits or BTCust!
I bet proudhon has loads of coins, and will be buying loads more if his predictions ever actually come true I have never seen anyone so rich would waste so much time trolling, they get better things to do. |
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Let's be fair with them, they would be pretty well off, however, with the depreciation of fiats and appreciation of bitcoin we are approaching convergence pretty quick, and in the end we are on pretty much equal footing.
On the contrary, the divergence is accelerating. Governments are no longer in the situation of kicking the can down the road but are in the process of following it off the cliff at the end. Meanwhile, Bitcoin came through quite a serious crisis with barely a scratch. Well, I meant the convergence of wealth held by an early-in-early-out adopter and a coming-to-the-party-late buyer. |
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I'm thinking it takes time after getting verified to notice that and then to send a wire transfer, plus Japanese banks close in 3 hours (3pm). This may explain why Tuesdays are often big. I assume they're working overtime to get people verified over the weekend, hence the Tuesday jump.
3pm? It's even more reason why people should adopt bitcoins. |
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... and erodes the advantage of early adopters.
Hard to hold a large chunk of coin as early adopter and not cash out a large percentage and basically be retired.
After "cashing out" you've got a huge pile of -- wait -- fiat money? correct? Not sure how that's be going to be a retirement though.... Let's be fair with them, they would be pretty well off, however, with the depreciation of fiats and appreciation of bitcoin we are approaching convergence pretty quick, and in the end we are on pretty much equal footing. An early adopter who cashed out 20K BTC at the bottom of $2(according to the days destroyed chart many of them did), is now being matched by a "sucker" who happened to buy 500 BTCs at the same bottom, not to say those who cashed out at below $1. |
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Many people buying bitcoins now actually have more faith than most current forum members. They dont care shit about price. Bitstamp was hitting $77 last thursday. If I had had money and the volume were there (both negative) I would have bought also. Who knows if the price will dip and how much it will dip, and if the lag allows to trade etc.? I would have never suspected a ->50 shakeout would happen, at the max I would have been able to buy at $65 average rate during the weekend. Who cares really. The outcomes are BTC>1000 and BTC<100 in a few years. The first is a success, the second is a fail. There is no middle ground.
Well, I fail to grasp what exatly makes people sell at $50 but I am sure they had their reasons. Margin call could be one.
I more than agree with you. Good point about margin calls, I can't blame people for that. However, if someone sold at the low $50's thinking they'd be Captain Slick and get back in somewhere below that, they are (as I'm sure they're aware at this point) foolish. Every metric by which you can measure Bitcoin points towards an increase in price. In response to your opening statement, see proudhon. In fact I just ignored him, and it made me rather sad. I'm convinced he's doing nothing but trolling these days. I love the bears, but when you can't even provide data or any argument for your position you are simply trolling. I hope you stocked up on some coin for the run this week, rpietilla. But who can buy when nobody is selling? And that's the reason for major shakeoffs, to send bitcoins into the hands of people who could take better care of them, that's how free market achieves fiar distribution and erodes the advantage of early adopters. |
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Shrewd Finn. I would not feel safe sending large amount of my money to Slovenia or Russia.
But Poland is ok? I am talking about the difficulty of fighting the justice system when something goes foul, if Gox goes away with my money, I guess I would need to come to a Japanese rather than Polish court to file a suit. |
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New walls at 73 and 75. I look forward to a time when there is enough money on the market the the wall makers will be too fearful to do this crap anymore.
Actually the walls serve an economic purpose of transferring big amounts of BTC from weak (overallocation in BTC) to strong (new entrants) hands. If all the BTC would be sold to small investors only, the market would develop in a nonsolid way. There needs to be old world big money buying large stashes of BTC and this is what the walls are for. But they are rarely bought. Lately a little, but usually they are pulled before they can be bought. Just a fear tactic to manipulate for whatever reason. The one at $68.91 was bought, someone throwed down a 20,000 BTC order, it was unmistakable, as had it been the bricklayer buying up his own wall, he would not have needed to overspend so much(the wall's size was only about 8K BTC). |
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Bull trap.
Yeah, the whole so-called rally from $7 to $70 was just one massive bulltrap we set up for you! We are gonna dig it even deeper, we'll ruse you to rush to $7000 and totally beat you up there, take that bulls!  |
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lol, party is over. Years long downtrend in place now.
Still hanging around with nothing better to do in life.  One possibility: he is Satoshi's trollish alter-self. |
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And this: https://support.mtgox.com/entries/20490576-Withdrawals-and-Deposits and this :https://support.mtgox.com/entries/21503347-New-AML-Policy-for-all-Dwolla-users
Wire: If you plan to send more than 50000 USD as an International Wire, we need to know who you are. Please refer to the "Increasing Transaction Limits" section for more information on what to provide us with. Also, you will need to let us know 3 days prior to sending the funds so we can notify our bank and do not send. Please note that we are unable to accept funds coming from any entity or country listed by the OFAC*
Meanwhile in Bitstamp, Dear Risto,
Thank you for contacting us.
Yes your account is verified and it is ok to send any amount in one transfer.
Shrewd Finn. I would not feel safe sending large amount of my money to Slovenia or Russia. |
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Hello everyone, First, legal news. If you go to http://www.icris.cr.gov.hk/csci/ (the official Hong-Kong registry site), you will find us under the name "Bitfinex Limited" (search as a unregistered user). The reason we didn't announce it yet is that the company has not yet official taken over the activity of the website, and we are still in the process of finding a bank account. This is unexpectedly hard, and to be honest, this is driving me mad. Anyway I'll probably fly myself to Hong-Kong to get things done... Furthermore, MTGOX code deposit don't always work, for some reason (related to timeout it seems). So you can be assured that we are doing everything we can to speed up the process a finding a bank account to accept deposit. I'll update the website to reflect this last changes. Now, about the lending page: to compact offers a bit, I've decided to group them by 10% rate asked. Now the fact that I round them to the upper 10% for loans demands is maybe not the wisest choice, I'll see if I can change that. If you don't find it more useful than the previous page, just tell me and I can reverse the change; Best regards, Raphael Thanks Raphael, it's nice to know. I am curious, so you didn't need to register as a security dealer there? As far as I am concerned if you wanted to register one to maintain insurance is actually a prerequisite, so I kinda wonder what do the authority there see bitcoin as? |
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MagicalTux said the staff is preparing the new financial report, any guess on the amount of fiats on Gox? I am very certain it's on the order of hundreds of millions of dollars.
seems like a high guestimate but maybe right here is the report at the end of the August of 2012, in that August alone, Gox received about $ 5M in all currencies, of course the withdrawal was also high at about $3.5 M, but keep in mind that that month we had a major crash, and I think it's probably one man doing it(maybe pirate, who knows) as both EUR and GBP withdrawal volume took up a much smaller portion of the transferred volume than the USD, and in the first eight months of 2012, nearly $ 50M of fiats were transferred. Now, after seeing this unprecedented rally of the last months, I would say the amount of fiats stored on Gox must be much much higher than it was then, and hundreds of millions of dollars is a very reasonable estimate. |
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MagicalTux said the staff is preparing the new financial report, any guess on the amount of fiats on Gox? I am very certain it's on the order of hundreds of millions of dollars.
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Just checked the queue, there are 5500 accounts pending verification at this very moment.
If it's not bullish, I don't know what is... Imho gox fund clearance is holding this rally in check at the moment. And weekends. |
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Bitcoin millionaire joke: Kid, remember this: however rich you become with your bitcoin wealth, never spend more than 10,000 dollars per month, or you will have to get verified with Mt.Gox, and may get caught by a cop in the end! I guess I would be fine with this limit. |
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And this: https://support.mtgox.com/entries/20490576-Withdrawals-and-Deposits and this :https://support.mtgox.com/entries/21503347-New-AML-Policy-for-all-Dwolla-users
Wire: If you plan to send more than 50000 USD as an International Wire, we need to know who you are. Please refer to the "Increasing Transaction Limits" section for more information on what to provide us with. Also, you will need to let us know 3 days prior to sending the funds so we can notify our bank and do not send. Please note that we are unable to accept funds coming from any entity or country listed by the OFAC*
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Agree. I cannot give graphs for AML requests right now, but I can tell you that the rate of new requests increased in the same way, with around 1000 new requests on Friday. Three new staff will be starting Monday on the AML.
Just checked the queue, there are 5500 accounts pending verification at this very moment.
If it's not bullish, I don't know what is... Do you need a verified account to deposit fiat? You won't want to put you BTCs on the exchange if you buy a large amount. Of course, from the bearish perspective it's people who want to cash out into fiats, but I think it's not so likely, there are not so many holding enough BTCs to absolutely need verification. |
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