Good morning Bitcoinland. Still hovering around $590. Someone mentioned coffee? Mmmm... Mocha-Java full city roast.  I think it's a little early to resume quoting Chartbuddy. I'll wait until we see which BTC/USD exchange takes the lion's share of the volume. Finex had a pretty good ride but things have obviously changed. This looks exactly like the 10 kilos of coffee beans I bought on the panic of the upcoming ice age! And it looks like its from Africa... people of Africa are so hard working in the farming industry! And they grow almost everything organic in them deserts..  Especially since I know 4 years in a row coffee has had a crop loss all over the world of an average of ~30% every year. And then news like this happen in the Northern Hemisphere : ... http://nyuzer.com/2016/08/11/overnight-temperatures-drop-0-twenteAnd it is so cold here and I'm under the 40* degree parallel and its under 10* degrees Celsiu... F***!!! |
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here we goooooooooooo, 520 now!  pump up that music play it to load and ready your fiat! adam 520 what?  Are you talking euros? delusional behavior as always when something hits him... Nothing to see here, walk along people, walk along... keep moving! or.... adam is shorting btc...  It wouldn't be a good idea to show his hand... dunno.. if he means serious, he may be bluffing. |
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here we goooooooooooo, 520 now! pump up that music play it to load and ready your fiat! adam 520 what? Are you talking euros? delusional behavior as always when something hits him... Nothing to see here, walk along people, walk along... keep moving! |
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We've evolved from ponzi scheme to penny stock. Huzzah?
Well... they probably don't want people to recover their money as a sure thing. And that is why they invented this token! Who wants buys, who doesn't.. Well.. Then they don't get their money back. Is that simple. They are probably like this: "Hey.. you want your money back?.. invest in this and we will buy it back from you!" ... Or? ... Maybe they will give freebies if they have good profits.  |
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I have a feeling that early in the week when all the password restrictions on bfx are expired, everyones gonna be putting their dollars into btc to get them the hell out of there. surely this will push us back up to near 700
666  Evil bitcoin!!!!!!!!!!! itcoin 2.0 incoming ... probably this weekend... As it seems this looks like a small/ mediocre dip compared to the other ones ... then a huge rocket! ... $666+ .. then $700> ... to $1000+. |
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You don't need to report the price to us everyday.... lol
Why not? We used to have chartbuddy here, price updates on a regular basis. Jimbo's good morning is a nice mantra. I hope he keeps on greeting us every single day. I really have no idea where the old man is getting his juice from... he is so energic! ... His determination will dry us out business!  |
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ok geniuses ... how much net demand can an exchange create??
ans : zip.
the net demand of 1 million traders that want to buy / sell 21BTC trying to turn a profit in the process is 21million BTC net demand of 21million bitcoin IMPLIES infinite price!!! BUY BUY BUY!!!!!!!!!  troll logic, i love it  I can just sit back and enjoy these simple moments of Fiat death! *Edit: Wondering in awe what will happen when 0.00000001BTC will be measured in grams of silver or gold ... I can just see it... "Buy 1 satoshy for 3.14 grams of silver! Today! At 5% discount!" |
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 ... Neah... its fine.. his laugh is enjoyable! .. Its like gasoline poured down on the FUD fire... Its all fine!  |
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I personally am not competing with anyone and I am only attempting to tailor my activity to my own financial situation and my risk tolerance, etc.
I am... or I was... a politician... but I still am in my mind... So... persuasion is like a hobby! Guilty pleasure? And... if you like trading, even if I myself do not trust one bit the exchanges. I do it so I can bleed society out faster and make it suffer, so they can scream for pain and make the real world move faster on their agenda. I don't give 2 sh!ts about money... what I like is actually power! I know it would not feel enough for me even if I was emperor of the Andromeda Galaxy and could have any power of control there. |
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Not going to happen! ... But... This will probably happen: *Edit: I suspect that those 100k+ coins that disappeared are being moved on to SSD cards or on multiple phones and sold on the streets of China hand-to-hand like drug dealers would do... Cuz Hong Kong(Finex) is very close to China! ... And hackers are like 98% from China... *Edit2: No one would suspect a thing... they would just see 2 people holding their phones and looking on their screens! Something normal.. |
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That is correct.. each of us knows about various events, and we have various experiences that shape our views, and in the end, we respond based upon that.. and maybe even in the process disclose some of the reasons why and how we arrived at our conclusions. Well in the context that we are facing now... And by that meaning the real world is on a verge of a major banking and everything else collapse, China floods, India floods, +other Asian countries... France floods that made wheat production fall by at least 30% from the estimates... Also South America and other South Hemisphere countries have problems because the incoming mini-ice age... if you don't know on the trading of coffee ... this is the 4th year that the real world coffee productions has suffered losses! .. on average in the last 4 years losses of 30% !!! ... And other things as well... Austria received snow and floods never seen in 100 years... Italian banks are thinking of confiscating population money, EU does not let them, Germany and Deutsche Bank seems to be screaming for some bail out money... then there comes Portugal... Spain.. UK.. even if I think Spain is almost safe. And besides that there are weird wars and political events happening...
Yes some of those events are more important than others, and even within the events that you describe above, their trajectories are somewhat unknown and some of them will play off one another and people will account for the events in different ways - that is if they even know about them or know details. And all this nonsense will make BTCitcoin go to 2k - 3k in the next year!
There you go, again.. Engaging in a kind of regression back to a kind of fatalism - as if bitcoin's trajectory were inevitably up or that the outcomes of the various events that you describe are of such a nature to inevitably cause your description of bitcoin's upward price trajection.
And maybe 10k+ after 2018+
Oh? Even you recognize that there could be a "maybe" in there somewhere? Why are you such a wuss? ... That is a relative perspective regarding "wuss", and it really does not mean anything.... I believe that I have a pretty significant investment into bitcoin, and I tend to accumulate and HODL, even when quite a few other folks seem to be selling. You should be spreading the word... our lord and savior "JesusCoin"BTCitcoin will prevail...
I am not really an evangelist of anything, but I do tend to tell people about bitcoin to the extent that they seem interested in the concept and receptive in receiving information from me.
I told all my friends to try to invest and get at least 1 coin for fun.. It can't hurt them in the long term. BTCitcoin has good "HODL" storage value in the long run!
Yeah. 1 coin should be a decent investment for anyone who might not have a large budget, but they want to get some stake in the game. Now if you could just get another 20,999,999 friends and convince them to buy at least 1 bitcoin, on or before 2140, we may end up experiencing a bitcoin shortage, which would be a "good thing," correct? You should put it more in perspective for them... "Buy bitcoin or suffer!... Your money will be worthless!" or something like that... or at least break it to them in a diplomatic way. Many of those 20.999.999 coins will be lost on their way home to 2140! ... I'm thinking that just 19.500.000 coins will survive... the most positive outcome I think about that.And if you are convincing enough... your friends will convince other people as well for you, without bothering too much! ... Just try to create ripple effects in time... *Edit: And when I talk of 10k ... I mean as in a bottom!*Edit2:
... So I don't understand from where is this "dump, dump, dump!" FUD from you is coming...
Did I say anything about "dump, dump, dump"? I mentioned possibilities of downward price action. Anyhow, it may be worth it to repeat that I generally sell as the price goes up and buy as the price goes down. I might preemptively strike in one direction or another if I have a pretty high level of confidence that the price is going to be adjusting by at least 10% in one direction or another - but those kinds of preemptive strikes are pretty rare for me, and tend to make me nervous too. The last time that I employed a preemptive strike was last week, upon hearing about the Bitfinex situation. I sold about 3% of my total BTC stash at $583.50 and then bought back at about $508. I was attempting to buy back during the flash crash to $465, and by the time that I caught up with the matter, the price was in the $488 territory, and since I could not get my transactions to go through, I ended up buying back at about $508. There I did better than you ... Sold at 655 something like 55% - 60% of my total ... When I saw that 5$ dip from 660$ ... and waited... and waited.. waited... etc... and a few hours later price dipped 1$ per 15-20 minutes... till it reached another 15-20$ ... And then I sold the rest when I saw that 50$ dip... but I actually sold before the 50$ dip, because my exchange reacts 2-3 minutes later than the Chinese exchange. So I can basically short with no problem, at a 5-10$ loss per coin. |
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Frequently your logic (or lack thereof) escapes me.
I may not post uber bullish scenarios; nonetheless, I recognize uber bullish scenarios, and I attempt to provide, opinion, factual description and logic in such a way that takes into account both upside and downside potential. I don't proclaim to have any extra hidden insight nor agenda beyond what I periodically disclose in my posts.
You, on the other hand, seem to get so caught up in describing every situation as "up, up, up" that you either are living in a fantasy world, you are badly informed or you are merely trolling.
I'l let that sink in a bit... waiting.. waiting.. waiting... Waiting some more... ok.. waited enough! ... So you: "don't proclaim to have any extra hidden insight" ... Well in the context that we are facing now... And by that meaning the real world is on a verge of a major banking and everything else collapse, China floods, India floods, +other Asian countries... France floods that made wheat production fall by at least 30% from the estimates... Also South America and other South Hemisphere countries have problems because the incoming mini-ice age... if you don't know on the trading of coffee ... this is the 4th year that the real world coffee productions has suffered losses! .. on average in the last 4 years losses of 30% !!! ... And other things as well... Austria received snow and floods never seen in 100 years... Italian banks are thinking of confiscating population money, EU does not let them, Germany and Deutsche Bank seems to be screaming for some bail out money... then there comes Portugal... Spain.. UK.. even if I think Spain is almost safe. And besides that there are weird wars and political events happening... And all this nonsense will make BTCitcoin go to 2k - 3k in the next year! And maybe 10k+ after 2018+ ... So I don't understand from where is this "dump, dump, dump!" FUD from you is coming... Why are you such a wuss? ... You should be spreading the word... our lord and savior "JesusCoin"BTCitcoin will prevail... and to be honest I told all my friends to try to invest and get at least 1 coin for fun.. It can't hurt them in the long term. BTCitcoin has good "HODL" storage value in the long run! |
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I still don't understand who are you working for...
Could it be ...  Good one! ... But dunno... he seems to pray each night at "Fiat Gods!" |
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@adam, I know this is from bitmex, but there weekly analysis is usually pretty good. This time they evaluate the finex hack. Everyone keeps telling me to be bullish, but I'm not feeling it. I'm surprised we recovered so quickly and thought we would have dumped back to low 500's. Regardless, enclosed is article link; https://blog.bitmex.com/youve-been-buttfinessed/Thoughts? i agree, i was also expecting the market to drop, and i kinda still do, my cheep coin target is set at 520. but as always... unber bullish long term, bitfinex is but an exchange that may or may not succeed in the long run, it can only effect price for so long. i'm going to read this later, busy as fuck today... HELL of a week... We already experienced one flash drop to $465, and then a pretty significant recovery. I suppose it is possible that before we go up, we are going to have to go down first, but such downward correction is not guaranteed because hovering in the $500s for more than a week may be sufficient downward opportunities to buy... "cheep coins." I still don't understand who are you working for... or what agenda you are on to unleash. But your bearish doom and gloom propaganda it ain't flying with me. Maybe it will dip a bit before skyrocketing ... but it is sure cheap coins lower than what we have now is very unlikely! Especially in the long term! *Edit: the incident with Fenix that just happened just made things to be rushed 1-2 months in advance of schedule. |
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Hitler gets a Haircut Good one.. Hilter meme.. even if its getting old... Nice way to lay the story out... |
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so how will the price be effected when bitfinex longs start from 0 and grow back to 40million?
You forgot to include in the poll: "Not Selling." , "They don't sell." ... or something like that... |
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So... they just need to create the perfect incentive.
How about "Trust us with your money, get 64% of your money back ...maybe." Would that work? "Security of user information and funds is our first priority.Every detail is analyzed to avoid security holes. We pride ourselves on being the most secure Bitcoin exchange. Bitch." --https://www.bitfinex.com/security_policy Way to go on the low hanging fruit there, with that security sucker punch you applied... But how about you stop being so angry.. and eat a damn Snickers bar! ... And enjoy the fact that we are one hundred more pages away till we celebrate 16k posts. |
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Yeah that's not how company valuation works. Right now their balance sheet is in red by ~$120MM (meaning they have $120MM more in liabilities more than assets)
Also if you think this "incident" will have no effect on their market share (their daily volume) or their "goodwill" you're delusional
Well... I might not have had the numbers to do proper simple math thingy with how much $ they do per day... But I'm pretty sure they are making 10k$ - 50k$ per day (on average). So basically when someone wants to buy something, they need to give you more than you can make in a specific period of time, or you don't sell them jack sh!t. Its that simple.But on some level you are right because the "incident" creates a confidence problem. And they need to come up with some hocu-pocus scheme to keep you hooked in the game. Like for example look what I would do... I would say: We will give a bonus 3% of your amount if you keep your money for 1 year in the exchange. And 18% if you keep it for the next 5 years! But if you decide to withdraw your amount that bonus will be given to the other exchange participants that decided to stay. Meaning that 3% for an year can turn in to 3.82% if some people leave. And that 18% on a 5 year basis could turn in to 72.31% by the end of the time those 5 years end. So... they just need to create the perfect incentive. |
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So, who is going to be stupid enough to lay a finger on their BFX tokens?
i'm a sucker for a sweet deal that no one wants to touch. That poll... so judging by the 36% haircut, we can assume that 20% - 25% of the total was thieved!... And by that we can assume it is more than 250$ million if it was the total... But keeping in mind the current rate and the imminent bitcoin potential rise, we can say for the short term(30days) 500$ million would have sufficed, with the adjustment to inflation. But they don't have 100% ... because part of that was erased with the theft. So 250$ million would have been more appropriate and a good deal for the exchange price we have now on hand. What you are saying makes little sense. I don't know how a company could be valued based on the amount of customer funds that they supposedly hold, as that same value. Let's say that they held approximately $500 million in customer funds, that does not make them worth $500 million, but maybe (best case scenario) holding value (and being able to profit from the trading of that value) could make them worth 10% of the value that they hold? I don't know exactly what fees they have for as a theoretical... Bitcoin has the history on its side... Meaning that it will go in to a inflation period... And now to the numbers... If they have a 0.1% fee from the amount of each order. And if they have a 100-10$ million volume per day... That means 100k$ - 10k$ per day ... And if someone pays for something like this they don't pay for what is worth, but what it could be worth, they pay for the name, for the publicity, for the recognition... Meaning that in 10 years it could be bigger than the 250$ million they paid. But you are right, they should not be valued more than 150$ million... But on the other hand... They already have money! And they can probably make 100$ million or more in 10 years... And people with money need to be overpaid to budge and roll over! |
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how the F thinks bitfinex is worth 1billion?
6 poeple have voted for this option lol
Maybe they took in to consideration the future valuation of BTCitcoin?If probably goes to 3000$ - 4000$ in the short term (next 6-12 months)... it would probably make sense. |
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