You're not benefiting anybody but yourselves.
You're free to run "Charity ASICs" as your own business, should you care to... The ASIC vendors are standard businesses. They are in it to make money. They are, so far, proving to be exceptionally good at it. Standard businesses risk THEIR OWN MONEY in order to make a profit - ASIC vendors are not "standard businesses", as they take no risk for themselves as all the operation is financed by customer's money. I'd say ASIC vendors are a "too good to be true" businesses. The point is that this madness will end soonish, mining will get "pro" and amateurs will be just cut out of the business, mining will be profitable only for those being able to design their own chips, cover NRE costs and then produce tons of chips at a small cost, "consumers" will just be totally cut out of the equation. Meanwhile, some see the huge business opportunity in getting advanced money by greedy customers, and they are just trying to exploit the short time window in which these pre-order shenanigans still work. |
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Keep in mind ponzis can come from incompetence. You lose money, but want to keep the things running.
Still a ponzi. |
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I for one do not understand how is it possible that people is willing to send their hard earned money to anonymous people on the interwebz that run very-likely-to-be-ponzi business schemes.
Trendon's BS&T is the classical example in here, long time members cooperated with him despite being an obvious scam simply because of the unbelievable returns, and there are only two options: a) complete financial illiteracy or b) plain and simple greed lead people to "play" the ponzi game becoming Pirate's fellow scammers, as they gave credit to his scam and in fact funneled third party funds to his scheme.
Unfortunately in the Pirate's case only possible option is b), as the long term members running PT's and such were "illustrated" regarding how that scheme could only be a ponzi from the very beginning and with undeniable hard facts, and this applies also to Patrick Hornett and the likes who where praised and defended till the very end despite being obvious scams. Story repeats itself over and over...
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Well, the one that took us here was a nice + BTC1k dump   |
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Who is running Casinobit? Name of the people in charge? Registered company?
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It does not matter which exact weapons you ban or not, unless you ban all of them at once. And that may turn for better or for worse, who knows. America has long history of violence, gun violence is in your blood. If you take away guns to prevent school shootings and gang violence, people will find other ways. There will be school bombings and school stabbings. It's in your history, your way of life, your culture. Only solution is to raise your kids as better people, more happy, and set a good example of yourselves, to break this cycle. We must examine where exactly bullies, thugs, psychopaths and rednecks come from and fix that. About school violence - when I attended school in my country it was a generally happy place. Teachers were not the greatest, many things were lacking, but it was fun to visit the school. There was no excessive bullying and constant HUMILIATION which is exerted at other schools worldwide. It was a surprise for me to see in news reports, how kids are treated around the globe. Of course we had fights, broken teeth, pranks, destroyed personal property, raging hormones and older students drunk while attending lessons  . But no constant humiliation. No one tried to take away your lunch money and etc. If someone overdid with insults or force, always some other guy or gal would step up in defense of the bullied. Less fortunate (stupider or poorer if you like) people were made fun of, time to time, but not as a scapegoat. I often see in news reports of a teen suicides in USA how they would change schools and move towns and etc. It would be better if they stayed and stood the ground, and other around wouldn't be so indifferent and helped. Pretty spot on. Unfortunately banning is never an answer, much less when the problem is rooted in culture. You have an example here, how people that call themselves "libertarians" are praising guns like they are some kind of freedom machine. In fact, for most of people in the civilized world, guns are just evil tools that bring a massive amount of suffering in the world; for many americans, guns are a liberation tool that made them free in recent history, that's a deeply rooted thought - just look at how they speak about that outdated book called constitution they look at it was some sort of sacred theology book. Making a long story short, a lot of US folks do not learn to HATE guns in their youth, in fate is quite the opposite, many in the US raise their children to LOVE guns (of course most will say they only teach them to respect them, blah blah blah). A first step would be for people to realize that carrying a gun is always something deeply sad and unfortunate that should be avoided AT ALL COSTS, instead of looking at them like they were cool toys with some kind of magical "freedom power" in them. |
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<images removed>
An economist would say that the bid sum is clearly on a trajectory to infinity, and the ask sum to zero Or "healthy amount of fiat in the order book, but supply of coins declining fast" - that should take the Gox price higher. If and when it touches $130ish at Gox, and if the spread with Bitstamp is still 15% of higher, I will try for sure some arbitrage. The opportunity is too big not to try. It's gonna touch $130  TBH I don't think $130-$136 is such- big deal ... might take a couple of days to push through it, but S3052 and Vokain's Head and Shoulder Bottom is totally in play now, which would give target of about $160. Given the supply constraints and the constant buying pressure that could play out relatively quickly. Definitely worth an arbitrage shot. I'll sell, ask for a withdrawal and see if it clears out quickly. If it does, there is a ton of money in arbitrage to be done. Don't understand why you don't just ask for a (small) withdrawal now if you want to test Gox. Or are you assuming that a bigger one will clear quicker and you don't want to move that much out right now ? Exactly. Back in the day, when I started using Gox, I "tested" it with a 100€ withdraw. That indeed took longer (10 business days or so at least), plus I had the unpleasant surprise to receive into my account only 65€ because of the various fees. But at least I touched with my hands they were "legit". Moths after that (post bubble obviously, after the big profits were met) I started making bigger and bigger withdraws, and they cleared super-fast. Heck, during the Dwolla aftermath with everybody complaining about huge SEPA delays I made 3 separate withdraws: 2 of them arrived to my account in 2 days and one of them in 3 days. To shut up the "I don't believe you" crowd and to be ready in case somebody wishes to bet I'm a liar I just posted the exact dates here: https://bitcointalk.org/index.php?topic=179586.msg2970683#msg2970683I will quote them here too: WITHDRAW 1: requested June 3th, received on June 6th
WITHDRAW 2: requested June 4th, received on June 6th
WITHDRAW 3: requested June 9th, received on June 11th So, if I'm going to take the risk to test how fast is Gox 2 months later my last withdraw to make arbitrage, I want to do it for a good profit - plus my experience tells me the bigger is the withdraw, the faster it clears. Thus for me there is no point in making arbitrage with less than 5 figures, not worth the hassle of the wait nor the money you lose in withdraw fixed fees with the different banks, etc. |
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I don't understand what the spread in prices means when MtGox site goes back live. Lots of people are selling thousands and millions of dollars of bitcoin on mtgox because it is priced higher than it should be.
Why would someone buy bitcoin so high?
this is ridiculous.
People with money on Gox are in panic, because USD withdrawals have become very slow or impossibly. Don't try to understand a panic. Deal with it. USD withdraws? Everything but JPY withdraws are slowed to nearly a halt. There's less than a dozen reports a WEEK of people receiving SEPA/SWIFT transfers on this forum - they aren't happening. Well, check early June - people were complaining of huge delays in SEPA, but nevertheless this is my Withdraw history: WITHDRAW 1: requested June 3th, received on June 6th
WITHDRAW 2: requested June 4th, received on June 6th
WITHDRAW 3: requested June 9th, received on June 11th
So, what about that? SEPA withdrawals clearing in 2/3 days, while this forum was already full of whiners about how delayed were SEPA their transfers. We can dig out posts to see how in that precise days people was saying they were waiting their 500€ since April or so at the same time I requested my withdrawals (I remember perfectly because I was nervous, I needed the money fast and I was ready to take a loan as I thought that I was going to have to wait 3 weeks or more - I was very happily surprised by how fast those came trough). I can also tell you that I'm certainly no whale, but I don't have peanuts in there neither. Those 3 withdrawals combine were something like in the mid 5 figures range. This makes me think I'm not the only one that received good service from Gox, but obviously people with problems is much louder than people that has no issues. |
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<images removed>
An economist would say that the bid sum is clearly on a trajectory to infinity, and the ask sum to zero Or "healthy amount of fiat in the order book, but supply of coins declining fast" - that should take the Gox price higher. If and when it touches $130ish at Gox, and if the spread with Bitstamp is still 15% of higher, I will try for sure some arbitrage. The opportunity is too big not to try. It's gonna touch $130 TBH I don't think $130-$136 is such- big deal ... might take a couple of days to push through it, but S3052 and Vokain's Head and Shoulder Bottom is totally in play now, which would give target of about $160. Given the supply constraints and the constant buying pressure that could play out relatively quickly. Definitely worth an arbitrage shot. I'll sell, ask for a withdrawal and see if it clears out quickly. If it does, there is a ton of money in arbitrage to be done. |
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<images removed>
An economist would say that the bid sum is clearly on a trajectory to infinity, and the ask sum to zero Or "healthy amount of fiat in the order book, but supply of coins declining fast" - that should take the Gox price higher. If and when it touches $130ish at Gox, and if the spread with Bitstamp is still 15% of higher, I will try for sure some arbitrage. The opportunity is too big not to try. |
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Pre-orders? Risking customers money, a nice business model indeed.
If this preorder thing does not stop soon enough the mining scene will suffer a lot. Why nobody works on small USB devices, very cheaply priced and that could sell hundred of k's of units? That would be something huge for BTC, and really help with decentralization. Asking for $15k preorders is an insult.
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Wow, this thread really went to shit. Unwatching it. I hope Knc open another thread for the next announcement.
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so people are saying sepa is working now but slow for transfers under 1000 euros?
Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€) This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June). Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough. no he said they have a hard limit of 10 swift transactions per day. sepa transfers have some other limit but it is not 10 transactions Maybe i got it wrong, but nevertheless they have some ridiculous limits regarding transactions per days - right? My point is that they could be priorizing biggish customers that mean significant money in fees for Gox. They wouldn't want to lose those. you are not helping... this is pure speculation... there are limits on sepa transfers i just want to know what they are Then ask Karpeles. Freenode, #mtgox. He should be online and available right now. |
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so people are saying sepa is working now but slow for transfers under 1000 euros?
Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€) This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June). Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough. no he said they have a hard limit of 10 swift transactions per day. sepa transfers have some other limit but it is not 10 transactions Maybe i got it wrong, but nevertheless they have some ridiculous limits regarding transactions per days - right? My point is that they could be priorizing biggish customers that mean significant money in fees for Gox. They wouldn't want to lose those. |
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so people are saying sepa is working now but slow for transfers under 1000 euros?
Didn't read that, but Karpeles said that they have a hard cap of 10 EURO wires per day. If that's true, it would be pretty logic to give priority to people requesting withdrawals of 5/6 figures, instead of consuming that limit serving users that mean almost 0 profit for Gox (honestly, if you are trading with 1,000€ you cannot make a lot in fees for Gox compared to traders that do their thing with 100,000€) This is wild speculation, but I think is very plausible given the fact that everybody complaining about non received withdrawals in this forum reports smallish ones, 4 figures or even 3 figures. I haven't read a single report by a trusted member having problem with its 50k (usd or eur) withdrawals, and I've experienced myself very fast SEPA withdrawals at a time when everybody was already complaining about delays (shortly after the Dwolla thing - early June). Playing devil's advocate with Gox is earning me a lot of hostility in these forums, but this is my speculative opinion based on my long experience with Gox. People always complained about them, in 2011 it looked like they were going to go bust because of the multiple hacks combined to the burst of the bubble, everybody whined about it and panicked causing a similar "Gox run", but yet not a single user has EVER lost his coins/fiat because of Gox's fault. Their PR can be shifty, their trading engine amateurish at best, but they have a long story of honesty and reliability, they wouldn't run with your money in difficult times as they have already proved in the past. Making a long story short, for me Gox is still more trusted than Bitstamp - and I'm quite sure that for whale traders that wire millions to exchanges, Gox would still be the first choice precisely for their history of honesty. Don't forget that any problem Gox might be experiencing with US regulators, will probably hit other exchanges soon enough. |
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http://gigaom.com/2013/08/19/feds-seized-2-9m-in-bitcoin-funds-from-mt-gox-court-docs-show/"The federal government sent a strong signal to Bitcoin traders earlier this year when the U.S. Department of Homeland Security seized an account belonging to Mt. Gox, the most popular exchange for people to buy and sell the crypto-currency. It was unclear at the time just how much currency the government confiscated. But a new filing in Baltimore federal court (embedded below) shows the feds seized $2,915,507.40 held in an account controlled by Dwolla, a third-party payment platform similar to PayPal. The funds belonged to Mutum Sigillum LLC, a U.S. subsidiary of Tokyo-based Mt. Gox." There are 14 million on the bid side, a seizure of 2.9 billion should not leave gox insolvent. Agreed. Plus, those are mostly their customer's funds, right? |
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Well, not so much money at the end of the day. Seriously? Back of the napkin calculations tell me that this is a huge blow to Gox! Considering the volume they handled during the bubble it could have been much worse. |
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What? I've had SEPA EUR transfers waiting weeks, you are speaking crap.
I know both. From less than one week to two months. Several of SEPA withdrawals between April and July. Each 9xx euros. I can also report of very fast SEPA withdrawals in June (just checked again and they are from early June, not late as I recalled, but nevertheless they were very fast and there were already a lot of people complaining about delays in the forums). Nevertheless, the cold hard fact is that there are indeed unacceptable delays for many customers, a lot of coins are disappearing from Gox order book, they are not showing up in the same quantity in other exchanges, and the divergence between exchanges grow while uncertainty spreads. Not a very healthy trading environment ATM, volume will go down until some clarity arises from this situation. |
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