RE: why would you want a bitcoincard versus just using your cellphone: I personally think you'll want both; I'm trying to convince them that the bitcoincard could be a perfect "second device" for multisignature transactions. Cell phone viruses and trojans and malware will be the next big wave of security vulnerabilities.
Now, this would make me buy one. Yes, I'd be all over that. Something small enough to keep in my wallet, so that it's typically on my person that I can use for multisig with my phone or, say, an untrusted computer or something. |
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this doesn't make sense to me. how can it "maintain power thru normal use"?
I've heard of low power technologies that generate a small amount of energy when flexed, does it use something like this? Like I said earlier, one full solar charge is enough for 1 month of daily use. It has the same power usage as my Citibank OTP device which I only replace the battery once a year but can generate 3-4 OTP's a day. The reason I mentioned that was because of this: Anyone in the electronics industry can tell you that the e-ink screen, radio transmitter/receiver and other functions of the device cannot be run by such a small solar panel, in fact, it would need a battery the size of the whole card just to run an hour more than likely. On this point Matthew you are incorrect 100%. The device IS ONLY SOLAR POWERED. It doesn't/can't plug into anything. Yet, has a screen and transmitter and provides all the functionality discussed. I asked them how long it could go without any sunlight and the answer was "several months". In fact it is so power-efficient that the retail version (production model) can enable it to power itself from occasional bending (bending the device back and forth to charge it) or even from pushing the buttons during normal usage.Power is not a problem with these. The power-bending model we have not seen, it's something they spoke about possibly doing in the future. I think Erik may have misheard on this one (Unless I did, because Im unsure as well) The fact as I understand it is, the device has a battery that is always charging in sun light. However, it can run for 1 full month on 1 full charge. I want one!  One question: Why does the charge-life depend on how many times it is used/day? If it is constantly relaying transactions in a meshnet I don't see how the thing will hold charge for a month if it is acting to relay information in a meshnet? I don't think thats how it works. I'm sure I've read of technologies in development and possibly in production which produce energy from some physical force on an object (e.g. bending, rubbing, pressing, etc.) I'll try and dig up some of the articles. |
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Nope, nothing for me. Please sir, may I have my money back?
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Alot of the technical aspects we all had to sign a non-confidentiality however Erik (who is a MUCH better writer than I am has been preparing a blog post)
Is that the opposite of a non-disclosure agreement? Yes, full details to follow soon! |
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the brakout of the triangle whitch it is forming, will tell if we go down or up in the shortterm
My guess is down. All that money is too tempting. the walls on the buy side have been strong for a while now the money was too tempting on May 29th, a big sell of happened, but was fallowed by very fast recovery, that's when i started this thread are you all watching? Maybe your right, Maybe they are looking at their bitcoin stash thinking "only a few more dumps and I'll have gotten rid of all these useless bitcoins!" LOL! Epic Fail I don't think people are trying to get rid of all their "useless bitcoins". I do think traders are trying to profit from the recent move up and/or increase their bitcoin position by selling and buying back when the price is lower. But, I've observed in the past that as enough people jump on that bandwagen the downward movement can become quite strong. |
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But, then I don't really expect most people to understand that to diametrically opposing statements cannot simultaneously be true.
I'm sure most everybody understands that. But what should be just as obvious is that two people can make two contradictory claims and neither one be lying. It could be the case that both are merely mistaken. |
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I'll be surprised if it falls below 5.40
Is your surprised face ready? |
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Probably? Sorry, none of these guys' words are good enough. Not a one of them has shown that they can tell the truth 100% without fail. So, no "probably" isn't good enough. If there was a single example of one bitcoinica employee/owner/partner/consultant or Whatever, that had told us the FULL truth when first asked then maybe if would be the case that we should (or rather, could) believe them. But, despite repeated questioning, we still don't have the truth on most of the issues.
Proof is what's in order - and really - what is in order is Bitcoinica, LP, putting the funds in a trust that earns interest FOR THE CUSTOMERS instead of hiding it where it earns interest for bitcoinica.
A bunch of unverifiable statements just aren't helping the case here. Looks really scammy guys. More so with each and every day.
Guruvan can you please be a bit more careful with your assumptions and responses? Almost every post from you shows you drawing wildly and far fetched conclusions and then getting angry based on you own conclusions, not the facts. Please learn to distinguish what is your impression from what has been actually stated! Without doubt, this situation is annoying and bears a lot of uncertainties. We had quite some badly lacking official communication. But I am not aware of anyone lying to us. There was only partial disclosure (which is a common business practice), but any of the details provided later on did fit into the partial image available beforehand. Please go back an read the official statements on this forum. And read them carefully and try to distinguish from your "impression". Even Zhoutong always indicated what he "thought" should be done or what he "proposed" and on the other hand there are some facts he really knew, and he indicated so, and other people like genjix confirmed those. The situation is uncomfortable for any of us, but by steering emotions we just help the dishonest and unfair people present in this thread, just waiting for their chance to seed fear, uncertainty and doubt. -- Ichthyo PS: if anyone wants to take legal action, please behave like real business people, talk to you lawyer, draw your conclusions on other business partners for yourself, privately, but stop creating noise and hot air here on the forum publicly. I agree that we ought to be careful about accusations of lying. However, given all the inconsistent reports offered by the various bitcoinica representatives, at the very least some of the representatives are misinformed about the subject of their own reports. And that has only served to weaken my faith in any of their reports, including their consistent claim that people will get some of their money back. |
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Of course it's easy to expect profit-taking to keep the price in check, because you're looking at growth from within the Bitcoin economy. For the next several years, 'growth' will be a marginal impact. External influence, especially the transfer of wealth which is occurring now and can bee seen with capital depositing excess during the ebb and flow of funds, will be a far greater factor than the Bitcoin economy in isolation. I don't see any evidence of a current movement of transferring wealth into bitcoin. Nor do I expect to see bitcoin recognized as a good alternative by the wider community over the next few years. |
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We can assume the market is rational.
Two words: Greed. Fear. I just did a thing with my hand to trace an exponential path on blockchain.info's market cap graph for all time and I get a market cap of about $150M a year from now = $14-15. If that's your expected price, act on it. It should be rational to use all your free income and savings on that, with an expected interest rate of almost 200% per annum. Exactly! Lately lots of people have been talking as if the price is very likely to go into the double digits in the next year, but there's very little evidence of anyone acting like that in the market. I'm speculating that the price will go up in the next year, but not by that much; and I still think a year from now we'll be in the single digits. I am buying smallish amounts every few weeks ($200-$300 worth), and that's because I do expect the price to break $6 in the next year, and that's still an exceptional return. But again, if you sincerely believe that there's a strong chance that the price will be in the double digits a year from now, then take out second mortgage on your house. |
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 Another explosive rally, just about to happen ? I THINK SO Why? There was a fair amount of buying between the lows in the $4s 3 months ago or so. With all the liquidity that's piled up on the buy side of things I think the view of further price decreases is more compelling as the people who bought between, say, somewhere in the $4s and $5.20 or so take their profits. I think this will go on for several weeks, maybe even months. |
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Neither Intersango nor Bitcoin Consultancy is involved in bitcoinica.
Some of the Intersango/Bitcoin Consultancy team members are, however posting about that in this thread is wildly inappropriate.
That is funny because Donald Norman, the CEO of Intersango/Bitcoin Consultancy claimed the following on 2012/04/24: http://bitcoinmedia.com/first-licensed-advanced-trading-platform-for-bitcoin/This platform announced today, a new contract signed with the Bitcoin Consultancy Ltd. Bitcoin Consultancy will be taking a dominant role in the operations of Bitcoinica, ushering forward its continued safety and stable operation. Tihan also claims otherwise: Bitcoin Consultancy was first retained to perform a comprehensive security audit on March 27 and they became owners and operators of Bitcoinica LP on April 24*. As General Partner, they have exclusive legal authority to manage the company. And Zhou: https://www.bitcoinica.com/posts/joining-forces-with-bitcoin-consultancyThe Bitcoin Consultancy team will be responsible for the daily operations of Bitcoinica, including customer support, compliance and new features. We have some amazing improvements in the works that we know our customers will love. I'm starting to suspect some serious corporate switcharoo here. So around April 21 there were the following entries in the NZ register: - "BITCOINICA CONSULTANCY LIMITED"
- "CORE CREDIT LIMITED" (30/01/2012)
- "BITCOINICA LP" (FSP) (22/03/2012)
However on May 30 the following happened: - "BITCOINICA CONSULTANCY LIMITED" > registration withdrawn.
 - "CORE CREDIT LIMITED" > namechange > "BITCOINICA CONSULTANCY LIMITED"
So correct me if I'm wrong but it seems that: - Intersango guys were the original BITCOIN CONSULTANCY LIMITED (General Partner)
- Tihans investment fund was CORE CREDIT LIMITED. (Majority Limited Partner)
- On May 30 the LIMITED PARTNER changed name to that of the GENERAL PARTNER.
This would also explain genjix statement: Tihan denies being in charge, which means his parent company (Core Credit) has to authorise the payments. However Tihan is saying we don't need that. Color me confused. What is going on and how does this benefit customers? This is exactly what I'm talking about when I say that we seem to be getting inconsistent reports of what's going on. I'm content to let the claims process take as long as it needs to take, within reason, for claims to be as accurate as possible; but all this other stuff is eroding any faith I have that anything is really being done. |
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yes because proudhon just sold all his coins ;-)
Nope. I Haven't sold coins in quite a long time now. I've got a few coins in a blockchain.info wallet, a few play coins on GLBSE, and the rest are in offline wallets. I bought some coins a few days ago around $5.55 and those were immediately transferred out of MtGox. I'm buying a few hundred dollars worth of bitcoins every week or every couple of weeks now regardless of the price and they're immediately moved out of the exchanges. |
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 Back down to $5? |
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the brakout of the triangle whitch it is forming, will tell if we go down or up in the shortterm
My guess is down. All that money is too tempting. |
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The first thing that came to mind as I read the article - Pirateat40. |
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Not a subscriber anymore, but if I had to guess, I'd say that in the coming days we're likely to see increased selling as people take advantage of the liquidity on the buy side and take profits.
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Maria is my first ignore. I'm not a virgin anymore.
And to be clear, I do appreciate the communication we're getting, though, as others have expressed, I'm puzzled by the different messages we're receiving from different Bitcoinica representatives (or in Z's case, volunteer?). Also, to be fair, when the issue was raised a while ago I voted for the longer more precise process, so, in a sense, I'm getting what I asked for (sort of). Clearly the process is taking a long time (so you got that much right), but what's not clear is exactly what's being done, how much will be returned, to what extent anyone who submitted claims is considered honest by those managing Bitcoinica now, etc. That's the frustration. The inconsistent messages over time.
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Barring some cataclysmic event like failure of SHA, either the previous high of ~USD$30/BTC will be reached by this time next year, or $100/BTC will be broken by the end of 2013.
I very strongly doubt that. The market is much more mature than that. By that I mean that there will be too much profit taking as the price goes up this time around, which will keep the price down. I suspect it will be many, many years before bitcoin reaches the previous high. I don't think what I'm saying is negative; I did at one time, but now I believe very slow growth is a good thing. |
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Again, though, help me understand why verifiable information from verified users can't be honored with at least a partial claim. Are there any claims that you guys have actually verified?
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