Everything I read is literally bullshit, still nobody can explain why we went from 3000 to 7000 in 26hs
There lives 1 billion chinese my bear friend. consider 0.0001% knows and buy bitcoin just to get rich quick. There lies the explanation to this mania. yeah well that still doesn't explain why we went from 3000 to 7000 in 26hs, and also seems like the only thing you can do now in China with bitcoin is paying some cloud service... why bitcoin, why not for example wow gold? They still make more $$ in WoW gold than in Bitcoin for 2013 |
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question: why don't we open account on btcchina and make some arbitrage with bitstamp? 30% guaranteed..
am i missing some point?
You need a Chinese bank account and then you need someone help you to convert CNY back to USD. No, you just get a Tenpay account. And banking in China is actually very easy...one of the few joys...its funny how 'western' banks still screw clients with fees. I used to bank with HSBC in HK...zero fees for anything, just happy to look after your money. HSBC in general is basically the most fair bank I've ever worked with. Unless you borrow, that is. http://www.justanswer.com/consumer-protection-law/2pkqy-want-sue-hsbc-unauthorized-overdraft-assessments.htmlHSBC, yep, they are fair in that will do business with anyone. US$670B in unmonitored money transfers and folks are worried about bitcoin? Bitcoin is not even close to being a player in money laundering game. These guys pay fines larger than all bitcoin and shrug it off. http://www.bloomberg.com/news/2013-07-02/hsbc-judge-approves-1-9b-drug-money-laundering-accord.htmlThere's your whale. If they didn't already have money laundering already well in hand and thought they could do better with bitcoin, they might be buyers, but they do better without it because BITCOINS GENERAL LEDGER IS ON THE FREAKING PUBLIC INTERNET. |
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What would be the most likely form(s) of attack?
This site always shows the 51% attack costs: http://coinometrics.com/bitcoin/brixbut part of the ASICs they could acquire for free by seizing them. At this point, this could be done by controlling two largest pools. Yes, this is a serious risk. If the pool members were blind followers, or individually feel that they have something to gain by sticking in the pool and didn't break off. Then we all lose. Even them. |
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Mixers can hurt. (and don't mean getting hands caught in the spinning blades) Computers are pretty good at sorting things, dontchaknow. It is like going to a party with some shady folks, when the party gets busted, everyone gets questioned. Am in a situation that can benefit from what you contemplate. I am not anonymous at all, but I know (socially) a great many who are deeply anon, and we can't really do business together other than just to talk and hang out, so am looking forward to see what comes of this. |
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They are referring to the application of the FINcen guidelines as applying only to the exchanges, rather than to the miners and exchanges.... interesting.
There hasn't been any application of that guidance yet to enforce. It seems that now that the US DOJ has been able to nab almost 1% of all bitcoin into their coffers, they want to keep it in the US.
A historical footnote Silk road saves the USA by getting caught within it.
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Consider the "silk road takedown". DPR can do anything he wants so long as he is increasing his bitcoin hoard on USA ground, he even allegedly hires a hitman, the government doesn't stop it even though they are on the Silk Road server and can see everything happening.
When do they step in? When he orders forged travel documents that might jeopardize their ability to seize the 170K bitcoins by being outside their jurisdiction. Someone more cynical might have some questions about that.
When do they step in? When they can grab his laptop while he is logged in using a public wifi. After they have created some evidence of him "hiring a hitman" so they can say "look, a criminal" instead of "look, ebay without draconian rules". No, you missed the point. He was doing those things all along, public wifi, allegedly hiring a hitman was long before. They didn't nab him until he had bought documents that would let him travel. They even waited until just the moment he received them... That was the line they couldn't let him cross. Its about the money. They let him generate more income long after the hit was ordered (whether or not he actually ordered any hit or not, they didn't intervene in that). |
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99.9999% of Americans do not watch the channel this is being broadcasted on. However, the news will probably do soundbits focusing on child porn, money laundering, terrorists/
These are the branches of law enforcement talking to the law authors. All they will talk about are the criminals and their ability to catch them. This testimony will not be watched by anyone unless they are VERY interested in bitcoin. So far it has been VERY good for bitcoin. All these folks are bragging about how great they are at getting the bad guys. The folks holding the hearing are the ones that author the laws. The main issue is whether they need to write new laws to help the law enforcers stop bad things from happening... so far the law enforcers are NOT asking for new laws or more power, with the exception of maybe more funding for their current programs (but those should be well funded already by the seizures made this year), the lawmakers also get to decide on spending. This is 100% positive for bitcoin so far in that there is no new damaging output requested. There may even be some positive effect if there is a more structured refinement of the FINcen pieces which are currently overreaching depending on how they get interpreted. its funny, i learned a lot about government today. there is little to no organization, no cooperation, definitely no interest in "bringing down bitcoin" the only thing these department heads are interested in is panhandling. They seriously couldn't care less about digital currencies, they are just trying to use this as an opportunity to say "look we have done such a great job, look how many bad guys we caught, please either A) give us more money or B) increase the scope of our bailiwick. This is pretty apt. Consider the "silk road takedown". DPR can do anything he wants so long as he is increasing his bitcoin hoard on USA ground, he even allegedly hires a hitman, the government doesn't stop it even though they are on the Silk Road server and can see everything happening. When do they step in? When he orders forged travel documents that might jeopardize their ability to seize the 170K bitcoins by being outside their jurisdiction. Someone more cynical might have some questions about that. |
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Do you wan't to know what I as a foreign 'hear' a lot?
"criminals"
"terorrists"
"money laundry"
"computer crime"
and once even
"child pornography"
To me it seems the undertone of that conversation is to associate 'bad things' with 'digital currencies'.
How far is this TV program spread accross the US? Do many people tend to watch this?
99.9999% of Americans do not watch the channel this is being broadcasted on. However, the news will probably do soundbits focusing on child porn, money laundering, terrorists/ These are the branches of law enforcement talking to the law authors. All they will talk about are the criminals and their ability to catch them. This testimony will not be watched by anyone unless they are VERY interested in bitcoin. So far it has been VERY good for bitcoin. All these folks are bragging about how great they are at getting the bad guys. The folks holding the hearing are the ones that author the laws. The main issue is whether they need to write new laws to help the law enforcers stop bad things from happening... so far the law enforcers are NOT asking for new laws or more power, with the exception of maybe more funding for their current programs (but those should be well funded already by the seizures made this year), the lawmakers also get to decide on spending. This is 100% positive for bitcoin so far in that there is no new damaging output requested. There may even be some positive effect if there is a more structured refinement of the FINcen pieces which are currently overreaching depending on how they get interpreted. |
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Could someone of you native English speakers sum up the speech for the ones not able to understand any word they say as he/she is not _that_ good at English at that level? Thank you sooo much!
There should be a text transcript of the hearing available after... Will look for a link for that for you. |
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The result of all of these law enforcement groups testifying shows the effectiveness and success of the current regulatory environment in managing the criminal activity.
They cite their 4500 cybercriminal arrests, eGold, Liberty Reserve, Silk Road, all the child porn cases that they have solved based on digital currency traces.
They are so effective, under the CURRENT regulations. What more could be needed? Looks like they have all the authority and regulatory framework they need.
Jennifer Shasky Calvery, to her credit acknowledges that they have sufficient regulatory authority and scope already.
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Not only push against the inertia, but also tend to have to carry a bunch of others while pushing.
The arrogance is a defense against the exhaustion.
There are many brilliant people without the arrogance, they tend to get less done.
Just let me say Gresham's law and here comes his lawyer!!!  I've advised Gresham to take the 5th. A statement will be issued on his behalf. "Hold on to a better money product, spend the worst money the seller will accept unless you can get more for the better money and can get more of the better money at the time you spend." |
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Bears want this rally to be like April. What they forget is that if this is like that rally, we are headed for well over $1k.
It doesn't matter if that is true. There is at least a local correction coming. Look at the daily chart and the bid depth especially. Careful, we have a Pterodactyl forming, he wants to fly.  Oh Noes.... get em!  |
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CampBX is still under D-DOS.
D-DOS defense is a finite and knowable issue to resolve, but it does take some investment in technology and architecture.
Any profitable exchange should be able to afford it.
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This guy is clever but his arrogance alienates him strongly. So he ends up being brushed off by other clever guys... High IQ individuals tend to come across as arrogant, because invariably they must push against the inertia if they want to "do the right thing". Not only push against the inertia, but also tend to have to carry a bunch of others while pushing. The arrogance is a defense against the exhaustion. There are many brilliant people without the arrogance, they tend to get less done. |
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It is completely like gold but better.
Gold does not have a price point at which all the electrical power generated in the world is used by gold. Bitcoin has such a price point. Gold and bitcoin have almost opposite (and so have very complementary features) Bitcoin is best used over the internet, gold is best used in person. Virtual vs tangible, new vs eternal, hi tech vs elementary... Precious metal (coin) are needed to make the currency complete, which is the impetus for the Bitcoin Specie project. |
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Who was it that predicted the 4K CNY flash crash because the Mandarin word for "four" sounds like the Mandarin word for "Death"?
Looks like someone used that for the spook factor.
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