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Insurance will not be adequate unless it protects against all eventualities so no matter what happens the collateral is forefeit should the coins be lost, hacked, stolen from inside or outside the company, passwords forgotten, private keys lost etc
The problem is for an exchange to have any depth they need it to grow and as it grows upwards of a million usd the temptation gets harder to resist and also when the volume is increasing daily like it probably does in all successful exchanges the insurance for depositors would have to increase again to negate the risk of embezzlements
If someone is insured up to say 1 million usd and their deposits grows to 5 million worth there is new incentive to steal the 5 million and Forefit the 1 million in escrow so a third party audit would be necessary and who is going to be trusted to keep the insurance money and monitor the balance sheet if not the exchanges themselves who obviously can't be trusted once they exceed a certain size
A lot of ddifficulties arise in trying to design an exchange to be bulletproof from every possible Angle but until it's taken care of it will hinder btcs progress to main stream adoption
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Ok so the price is now falling again.
We'll hit $200 in the next week.
Get the f*** out of bitcon or you'll go broke soon!
Lol Not broke yet and not worried no sign of 200usd, how does it feel to always be wrong?  |
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I don't think anyone will raise a million coins together just to dump them to crash the price, it's impossible to predict exactly how the market would react to it but nobody has that many coins Anyway... The fbi might have the silk Rd Coins but I think if they were dumped the market would buy like crazy until it returns to equilibrium
Also not too worried about the premined coins satoshi may or may not have lost, if they haven't moved in 5 years they might never move and the userbBase is growing anyway so any crash will be swallowed up and a rise will follow
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It seems that way - the old money is afraid their promised millions might never materialize, and is willing to sell for 7 million money now instead of waiting for 70 or 100 down the road.
If you mean the early adoptors by "old money" then I think they had plenty of chances to dump and walk away with enough to retire on Anyone who's been here for that long knows there will be ups and downs and is unlikely, Imo to sell in a panic at 300usd Anyone sitting on tens of thousands of Coins from the early days has no reason to suddenly dump at the drop of a bit of bad news Maybe it's retailers cashing out to pay suppliers or something similar as they may be afraid of being ruined by a potential loss of fiat |
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Legitimate banking pays back a few cents on the dollar yearly
A ponzi offering hundreds or even thousands of % a year cannot be compared to legitimate banking
I hope you are just trolling and you don't believe there's a legitimate way to make profits in those ranges
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Yes indeed, she looks like one of those pictures of plastic surgery gone wrong! Lol |
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He sent me a PM, but I'm not going to reply, as I'd prefer all communication be public. I have pointed him to this thread.
From what I saw you didn't respond with the thread link. Your reference led to my thread link for BTCBackers. If I closed the site, I would have to wait until all revenue is generated (because how would I be able to cover the larger 360% BEFORE the 90 days are up?) It really is Vods call, I personally think I have this all mapped out, I really hoped for success for the site...but if not, I'll be happy to close up the thread and disable everything on the site and pay out everything once they become due to be paid. Sorry if I have caused any distruption in the community, I genuinly thought it was a good idea to open a HYIP to help expedite the growth of my plans. What do you guys suggest instead of a HYIP? Looks like a securities thread or a long term loan is the only option, but without collateral, obviously not possible. 390% return after 90days is1560% yearly return lol I hoped the btc community aren't stupid/greedy enough to send any coins but history has shown that they are so they deserve to get some lessons in economics imo 1560% a year is unsustainable, anyone who says different is lying If anyone had a way to make such returns they would use their own capital and get exponentially rich in a short time without borrowing anything from anyone...... Wrong MINUS investment which is 100% = 290% x 4 = 1160% return after a year Seriously, get your math straight before posting. My calculated returns are what you are advertising, don't blame me for being unable to back up your own bullshit  Your making so much money daily that you could pay it to yourself every morning and reinvest it every night and loans would not be necessary Why not post up the total deposits you have taken to date and your name and address if you are not running a scam..... Mining worthless alt Coins to trade for valuable btc "amongst other things" lol Is that the best you could come up with?? You really are a rocket scientist  |
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He sent me a PM, but I'm not going to reply, as I'd prefer all communication be public. I have pointed him to this thread.
From what I saw you didn't respond with the thread link. Your reference led to my thread link for BTCBackers. If I closed the site, I would have to wait until all revenue is generated (because how would I be able to cover the larger 360% BEFORE the 90 days are up?) It really is Vods call, I personally think I have this all mapped out, I really hoped for success for the site...but if not, I'll be happy to close up the thread and disable everything on the site and pay out everything once they become due to be paid. Sorry if I have caused any distruption in the community, I genuinly thought it was a good idea to open a HYIP to help expedite the growth of my plans. What do you guys suggest instead of a HYIP? Looks like a securities thread or a long term loan is the only option, but without collateral, obviously not possible. 390% return after 90days is1560% yearly return lol I hoped the btc community aren't stupid/greedy enough to send any coins but history has shown that they are so they deserve to get some lessons in economics imo 1560% a year is unsustainable, anyone who says different is lying If anyone had a way to make such returns they would use their own capital and get exponentially rich in a short time without borrowing anything from anyone...... |
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I have used this site many times with no problems.... That is until yesterday. Now all I can get is a "unable to connect to server" when attempting to find the website. Any news Blender? I am really hopping that I didn't just loose all of my money.
If your not in sole control of your private keys, you don't have any Bitcoins... Did people really send Coins to an anonymous mixer and expect Them to be safe? |
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Your Coins are not safe anytime they are outside your ownership
Surprised people haven't learned this yet after 5 years of scams
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It's amazing that after gox spectacular meltdown people are still leaving significant amounts
of btc under the exchanges control
I imagine the same people will get Burned again when btcE or the other big exchange owners decide to retire
and get "hacked".........
I think it's a matter of when and not if this happens again...
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Really, Cryptsy doesn't get a mention?
Not sure if serious...... |
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If It was spare money i don't see the problem Im sure he's not posting from a cardboard box so it was likely a spare house that he didn't live in anyway It will take the next ath which maybe anytime in the next 0.5-2 years and he might be able to buy the whole street ....  |
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they will sell elsewhere or sold already dont even think you will get money back  Even if the coins were followed or even tainted at bitstamp there will be plenty of international buyers that would take them for a small Discount And not care that they were once stolen funds Once they go into a big Chinese or Russian wallet that's probably the last we will hear on that... A few million bucks worth of coins is not likely to be recovered from this fat fcuker or any other thief who was smart enough to steal them in the first place I'm sure karpeles has a % of the plundered coins stashed away too...... Unfortunately it's too easy to steal coins at the moment and blame it on Bad security or hacks etc |
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It might be a year or more, but this prick will eventually resurface, probably broke, infected with an STD or three, and looking for a scam to perpetrate. You really can't hide forever in the world of the interwebz and when Ryan/Alex blows through the 3700 BTC ($1,470,000 some odd dollars worth!) he will return to his old haunts....
Then Karma with a capital K will likely come upon his sorry ass......
and yes, he got me for a few coins also.......
With maybe 1.5-2 million usd worth of bitCoins at today's prices he could easily stay under the radar Those btc will probably double or triple in value in the next 6 months so unfortunately he has stolen a substantial amount and that's not even counting the garbage coins The btc amount is shocking to be entrusted to a guy who even has a past history of being a scammer/thief I hope everyone gets refunded but we all know how hard that's going to be, esp for people in other countries Hopefully he gets what's coming to him |
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how could it not be considered a sucess?
a guy makes a system worth billions of dollars and revolutionised the way payments
are made online totally bypassing the current banking systems almost for free ??
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update : thanks for the help guys as it turned out i was able to make a brand new wallet and import the backup private key and use an older password to override the password which wasnt working the situation is under control thank goodness ,that was a scary one |
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I have a multibit wallet i havent used since last year with a lot of btc in it
the password is a long mix of numbers and words ,something like
"Chicken67895January1952586469643"
I have tried it as many times as i can think off and cant figure out why its keeps
saying its wrong ,there are only 2 capitalised letters and im pretty sure i didnt
enter it wrong twice in a row
any ideas ?
edit: i found 1 private key backup and it works with an older password but it still asking for the
wallet password and everything i enter is wrong with "could not decrypt bytes" error message
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unlikley to get a reason IMO
theyre just covering themselves and they will point to their terms and conditions dictate they can withdraw anyones banking priviledges at any time for any reason at their discretion or some such bullshit.........
lots of people have had banks closed for sending /recieving money to known btc exchnage accounts like gox and the others
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