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There's so much FUD about Ripple...
The idea itself (credit networks) is well known and actually likely to work. The problems with Ripple itself are that
a. the devs can't explain shit
b. the investors can't understand shit
Ripples themselves are only transaction fees IOUs. They are not going "to the moon" and that is precisely why the devs essentially premined most of them.
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The charts on data.bitcoinity NEED a button to toggle log-Y axis. All of them!
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http://news.stanford.edu/news/2014/february/bitcoin-athey-srinivasan-021814.htmlin case you just need some solid academic approval of bitcoin. g r e a t interview. donīt miss it. If the Internet was programmable communication, Bitcoin is programmable money. The analogy is actually a very good one. Before the Internet, in order to deploy a program that used the central communications network, you needed a deal with a network operator like AT&T. With the Internet, individual nodes could write programs to directly communicate with each other, without any central approval required.
In the same way, today, in order to deploy a program that uses the central financial network, you need a deal with a large bank or credit card company. With Bitcoin, individual nodes can write programs to directly send and receive money from each other, without any central approval required.  Reposted. Everybody needs to read this. |
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Wow!
This number is increasing at about 10K/day now. Was just 38K when I looked at it this morning.
Would you say we're getting closer to capitulation (on Gox at least)? |
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Is finex down?
EDIT: Nope, just a fluke
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I had an epiphany at lunch. Gox will succeed in spite of all the crap they are pulling. Why do I think this? Because in a very weird way Gox has created the perfect gambling web site. People see the undervalued or overvalued price and with the same rush of adrenalin they get as a "fun" trip to Vegas, they throw their money in with hopes to take advantage of the "game" even if they may very well lose everything.
BTC is the best MMO ever. That will get us islands for microstates and change the world in the meanwhile. Also fonzie if he really is LTCvictim, is a veteran of the BTCe trollbox, probably 15 and loaded with LTC and likely others. You're all really feeding him a la carte. It's ok. I like him. I like the trollbox. That's my dirty secret. |
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LOL exactly what I've been thinking hahah. Unless of course it is MtGox themselves doing it and they just give themselves the money. It would seem to either be MtGox doing this to help themselves in some way, or someone or some organization that wants Gox or BTC dead. Though if it was an organization that wanted BTC dead, you'd think they'd just put these sell bots on every exchange and not just MtGox .
Are you SURE it is really a bot, and a single one at that? And are you sure it is doing no buying? They can't sell too much for too long, noone has unlimited funds. Not sure about anything haha, all just theories, but it certainly appears to be a single bot with the timing it has. Could be a single bot owned by many people, or multiple bots in sync, no way to know. It could also be selling through its own walls. And pay 1% fees each time?  Unless it's the GoxBot. Then it has no fees, and an unlimited account. "All you can sell". |
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KeyserSoze, please don't get offended, but I think you're wrong about MP, and I think many on this forum let their linguistic sensibilities cloud their understanding. I posted the link to his blog originally. I don't think he's a scam. I agree that he acts like he's retarded but so did Risto last year. He could be an act, or maybe he actually has some grand illusion of grandeur. I know this forum's opinion on him but I disagree. Let me tell you why, from your links: MPEX - Despite the fact that the security never actually stole or scammed members the owner Mircea Popescu is a disgusting person that uses the term "nigger" on his blog while also constantly putting people down and generally being a complete snob. Lied multiple times about being the owner of a successful company, if it wasn't for Satoshidice releasing stock in MPEX this person would be selling potatoes somewhere in Romania. Plenty of ad hominem is an understatement. I don't know about his lies, but I would not be surprised if they were trollings given his general attitude. But I'm pretty sure he didn't make his (first) money from Bitcoin. The second thread you linked is just funny. "You don't create anything, how can you be worth so much?" etc etc. Overvalued, sure. And leaving his snide apart, he does back finances up. Just read the whole thread, seriously. The most vocal voices against him are all derp derp derp. He's an asshole, but so far a legitimate one. http://trilema.com/2013/mpoe-march-2013-statement/ shows that he took a hit and didn't run away (like many others). I can't vouch for MP but I'd trust him more than many, many others in the crypto world. And his own "Scam list" is strongly and irreverently worded, but... Coinlab/Coinbase/Coincrap - Multiple cases of stealing from users through the "canceling BTC sale when price goes up" scam [...]
... he elaborates. In the meanwhile, everyone asks how much money MPEx makes even if there. are. monthly. statements. I'm not US-born myself. But boy if you're not smiling and pouring honey out of your mind some people just lose reading comprehension. Just to be clear, I don't know him and don't try to put him in the spotlight. But I've seen no criticism of him which is not ad hominem, "I don't understand so you must be a scammer" or more ad hominem. He's a douchebag, his critics (that I've seen) are barely literate. That second thread has some people asking the same fucking question three times in a row because someone couldn't read the fucking answer and insisted on borderline semantics like "how one never enters naked options positions, while simultaneously never hedging options positions". Just like the answer came immediately (he has BTC to cover them, basically, so they're not naked), the poster asking the same question again writes a 500 word exhibition of not understanding full reserve finance. I mean, really? /rant |
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That's not certain at all. Billy/Willie is just waiting for some bid support before he starts up again.
The last 25-70 dumps could be Billy taking it easy for now. "Time between consecutive dumps" has almost the same distribution. |
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Hmm, I wonder if these markets could possibly stay irrational for longer than I can stay solvent..
Don't use leverage and you are fine. Or if you ran out of blow, guess the swings with 0.1 BTC each bet at 10x leverage. Same rush, but lasts for hours and hours. |
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There it is. sub 266 on gox
BTCe needs some Xanax as usually |
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This is something we can speculate on freely. 1. Who would put buys at <10$ and just leave them there? 2. Who would put buys below 1M coins in the orderbook? Below 10M? Are there ("Should there be") 1M coins on Gox? And while on the subject, is there any reason why Gox could not trade on itself with a virtual account? Any reason that account could not be unlimited? While Gox are separated from reality they could literally move the price anywhere with no cost. That conjecture is consistent with Willy's behaviour. Also traderCJ noted that bid book sometimes thins to 100-500 coins. That happened a few minutes ago and someone took a deep dump then put the bid walls there again. |
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I'm pretty sure most of that is Willy(?) selling into their own walls... |
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watching gox 1m on wisdom is like watching eurosport, but slowed down alot
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What If Willy Is Nakowa And He Got Bored Of Just-Dice?
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If gox withdrawls are enabled, I'd go all in btc (actually, sooner) and transfer immediatly to stamp. Then i'd cash out. Gox price will rise, stamp price will collapse and we'll be back to pre-btc withdrawl problems with gox 100$ above stamp.
Imagine buying 330$ btcs and selling half of them for 650 a minute later.
why all want to cash out on stamp ? just buy on gox and hoDl ? Buy back moar. Also, welcome back Frozenbyte. |
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The only logical explanation is that someone knows that Gox dont have any coins and wont ever fix withdrawals, so goxcoin is essentially worth 0$
But look at the market. Everyone WANTS coins to go up but Willy won't let them. Assuming you were really cashing out because Gox has no coins, wouldn't you just, y'know, let the price rise from time to time to get more cash? I'm starting to believe Willy sells into (mostly) its own walls to give the impression of massive dump and keep the price suppressed for much profit (?). The only other plausible explanation I can think of is Gox or some accomplice(s) shorting naked. But then again, wouldn't you let the price bounce back from time to time? |
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I wonder if the market on Gox can ally against Willy and wait for its predictable dumps, set up walls, get the price up, then remove orders, let Willy sell into negative numbers and start all over again. Like working in shifts |
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