Think markets got some tanking before it recovers to a nice price again and continue to go up. $170s last week and in $240s now could go anyway up or down. Coinbase thing tho is interesting. Will find out what happens with that in 15 hours or less to see if anything will really happen with the new exchange that is coming out and seeing how prices will go.
no, i think the bottom is in. the CB exchange is a long term thing, not a one off. it changes the liquidity dynamic significantly and should boost prices and narrow spreads.
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just like i warned; i don't think markets like Syriza. nice gap down: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FbKDEDG7.png&t=665&c=n3zTkU4EjB9nsQ)
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Let's go Lunar! ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fblogs.agu.org%2Fmartianchronicles%2Ffiles%2F2010%2F11%2Frocket-launch.jpg&t=665&c=wDaCt7RjLA4pSg)
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Massive Bitcoin liquidity incoming.
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Central banks are getting more negative press these days.
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The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.
For everything else there is the ignore button.
Its true. They're also the ultimate contra indicator. The higher the pitch, the more you buy.
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you mean this one? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FdnZYHWM.png&t=665&c=M0J_Qzkg91SsnQ)
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Banking Culture Encourages Dishonesty
The authors conclude that the prevailing business culture in the banking industry weakens and undermines honesty. Research in moral psychology and behavioral ethics, however, suggests that the dishonesty may be due something more basic: money and number crunching are an important part of the banking industry. When people are focused on money, research shows, they behave in self-interested ways. Even thinking about money leads people to be less helpful and fair in their dealings with others, to be less sensitive to social rejection, and to work harder toward personal goals. In fact, money can make us so focused on our selfish motives that it can even lead to unethical behavior. In my own research, for instance, I find that university students were more likely to cheat after seeing 7,000 dollar bills than after seeing 24. Similarly, study participants across a variety of studies were more likely to cheat when they were primed to think about money.http://www.scientificamerican.com/article/banking-culture-encourages-dishonesty/
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really interesting post by srebin over on Reddit about what's going on in Bulgaria and surrounding regions: [–]srebrin 5 points an hour ago I've been a depositor at KTB pyramid, for which i got paid an interest of nearly 9%, paid out in installment of 4 months. The pyramid advertised itself as the bank of the rich which probably was true considering that many from the upper echelons of the ruling parasites had "special" interest arrangements nearing 10-11% interest! I realized that in an economic environment of depressed credit expansion, outflow capitals, collapsing real estate prices (nearly 40% from the top in 2008) there is no way on earth they could possibly sustain this kinds of interest payments and kept my ears and eyes open for the slightest of troubles with the rulers as to move my electronic debt based money promise out of them. That is what i did just 3 days before the pyramid was closed in June 2014 as news was spreading that the pyramid chief - Cvetan Vasilev, was in a row with one of the ruling parties (DPS) which is famous for staying in power ever since the collapse of the previous rulers regime - the red communists turned into newly baked crony-capitalists. The total assets of the pyramid were over 3 billion euros, of which within the "guaranteed" electronic money was 2 billion. In the so called guarantee fund there were less than 2 billion after 17 years of collecting fees on the bank assets, for which the rulers took on a state debt to be payed by the tax slaves in the next couple of generations as to fulfill the "promise". Bulgaria is in a currency board to the euro since 1997, after the hyper inflationary collapse caused by 17 failed banks (orchestrated of course) that run away with 2.5billion dollars of value at the time, only 7 years after the change of the clothes of the previous rulers to a new kind with fancier ideas like "democracy for the masses". This is to show that in 2014 only one of the nearly 30 banking pyramids operating in the country, stole more than the previous 17 failed banks in 1997. As interest payments were MUCH higher in all banks because of the distorted market place by the bankrupt KTB pyramid, lots of hot money was flowing from depositors speculating by spreading their eggs in higher risk tax farms like bulgaria, ukraine, moldova, mongolia, turkey etc. Now, all this money flow has reversed and I expect that more pyramids are in trouble than most people realize and probably unless the rulers take a lot more debt, there will be a contagion in the months to come as things unravel. The latest big bank to come into the spotlight is FIB (or PIB, first investment bank) for which news is spreading with a huge credit exposure to very few companies and persons with total credits way above the 25% regulatory limit of all assets. FIB is the 3rd biggest bank and already received state liquidity last summer (600million euro) as there was a bank run affecting them and other bulgarian-owned banks, considering how fragile the confidence level is with any of those pyramids. What is funny the KTB owner is now in Serbia, as it is outside the EU empire and can not be extradited as easy as within it upon request. He has put a couple of a hundred million euros in companies in serbia, money stolen from depositors of course, and probably is under the protection of the serbian rulers as they seem to do everything possible to delay any extradition proceedings. Before the pyramid officially was closed, they boosted less than 2% default rate whereas in the other banks it is nearly 20% considering the real estate as collateral has gone down dramatically. Suddenly, after its closure the regulators at the central bank has published that it had over 50% default rate which was masked through new deposits coming in at the promise of high return and issuing new credits to the bad companies to repay bad loans and mask the whole think up! No normal wain person with leave his saved up toilet paper with any of the banks these days as there is in the air talks of overturning the currency board and hyper inflating the bad debt as they did in 1997. tl.dr: whoever has any brains is getting his money out of any bank in bulgaria as the political uncertainty is too great of a risk permalink save report give gold reply [–]Byzantine-General 2 points 50 minutes ago Agree with you that First Investment Bank will be the next to fall. Several newspapers have been fined for reporting on FIBank's financial troubles based on a recent law http://en.rsf.org/bulgaria-authorities-ramp-up-pressure-on-21-01-2015,47516.html permalink save parent report give gold reply http://www.reddit.com/r/Bitcoin/comments/2tia8f/at_the_same_time_bitstamp_was_robbed_of_6_million/cnzca6d
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IMHO Gavin has been pressurized by (private) business' interests such as Bitpay, Coinbase et al to push this (NYSE, CIA, and USgov too?!), but i am glad there is still some space to argue and not despotically rush into it.
I hear this thrown around a lot, but never seen any evidence for it. How has Bitpay/Coinbase pressured Gavin? It's not unlikely that Gavin actually thinks this is a good idea and that's why he's working on it. Im not saying this is what is happening, nor would i find any evidence about what is going on in one's head. Just extrapolating that they may be a lot of forces driving or attempting to highjack bitcoin's development. Capitalistic and private interest are likely playing their card on top of that, considering all the VC cash that has been thrown at bitcoin over the last couple years. Besides it is proven that Bitpay, Coinbase and other exchanges are favoring the forking. Anyhow, it also seems Gavin is on the edge here with this whole thing, putting his legitimacy and authority as Bitcoin lead dev at risk if people in the end refuses to cope with the forked software. Interesting times.. But you have to look at the totality of the situatio. Imo, Gavin is working from a much higher level of moral authority than gmax. He's employed by a non profit. Sure, he may be in the coinbase advisory board or something like that but unlike gmax he isn't CEO of a for profit company funded by a bunch of late comers who previously shunned Bitcoin. I've got $21M that says I'm right. Ah i missed the point about gmax being involved in blockstream.. ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) What about Peter Todd? Although affiliated to viacoin now, he seemed pretty foreseeing regarding that issue too: https://bitcointalk.org/index.php?topic=208200.0 https://twitter.com/petertoddbtc/status/557719826748440579Peter's fairly neutral, altho radical & boisterous at times. i used to be more concerned when Mastercoin seemed to be his main project but nowadays, especially since Mastercoin seems pretty dead, he appears to be affiliated to a bunch of diverse and different projects so i'm less concerned and hence value his opinion more.
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IMHO Gavin has been pressurized by (private) business' interests such as Bitpay, Coinbase et al to push this (NYSE, CIA, and USgov too?!), but i am glad there is still some space to argue and not despotically rush into it.
I hear this thrown around a lot, but never seen any evidence for it. How has Bitpay/Coinbase pressured Gavin? It's not unlikely that Gavin actually thinks this is a good idea and that's why he's working on it. Im not saying this is what is happening, nor would i find any evidence about what is going on in one's head. Just extrapolating that they may be a lot of forces driving or attempting to highjack bitcoin's development. Capitalistic and private interest are likely playing their card on top of that, considering all the VC cash that has been thrown at bitcoin over the last couple years. Besides it is proven that Bitpay, Coinbase and other exchanges are favoring the forking. Anyhow, it also seems Gavin is on the edge here with this whole thing, putting his legitimacy and authority as Bitcoin lead dev at risk if people in the end refuses to cope with the forked software. Interesting times.. But you have to look at the totality of the situatio. Imo, Gavin is working from a much higher level of moral authority than gmax. He's employed by a non profit. Sure, he may be in the coinbase advisory board or something like that but unlike gmax he isn't CEO of a for profit company funded by a bunch of late comers who previously shunned Bitcoin. I've got $21M that says I'm right.
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"Dollar Power “If you look at what we call the weaponization of finance,” the Eurasia Group’s Bremmer said Jan. 5 on Bloomberg Television, “the U.S. dollar has been a much stronger lever of American power internationally than our combat forces have been over the course of the past couple of years.”
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