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Thanks. Putting bids in at $103.
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My current position is something like this:
45% fiat on exchange
25% fiat in bank account
20% btc on cryptsy to trade altcoins
10% cold storage
In light of the recent exchange issues and the sheer terror I felt during that flash crash, I am going to have to move more fiat out of exchanges and into bank account and then only send fiat back to the exchanges once the chart has turned unquestionable bullish. I may miss out of buying the lows here but it is my only option to mitigate risk.
As more trading indicators go positive, I will buy more btc and send them into cold storage and cryptsy.
The price is putting up such a fight going down now that it seems more productive to trade dogecoin on cryptsy than to trade usd. This is a win win because it allows me to increase my btc without risking being stuck in fiat if the train takes off. As I realized during the flashcrash, if btc were to really collapse it is likely the exchanges would probably run with my fiat anyway.
Hmm that begs a question: I wonder what bitcoiners have more negative sentiment towards: USD or dogecoin?
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You know, if every exchange switched to mBTC as the default, I wonder if this would psychologically encourage the price to rise. Hm. no |
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3000 BTC buy order on btce.
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Maybe the hackers are actually good guys. They've brought the issue up before but the dev team was too lazy to fix it. Now they have no other choice than to exploit it so that it get's fixed. They want to do it now while there's still a chance before bitcoin becomes mainstream and commercially used and it's too late. If it happened later it might damage bitcoin and everyone involved too much.
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Lasky: “Let’s be frank, a lot more money has been laundered through large banks than has been laundered through virtual currency.”
The real money laundering folks laugh at bitcoin. Too small, too open. They use the banks, where "paper trails" are shreddable, and people can be bought. The blockchain is open and buying it is more expensive than all the money they could launder with it. That as much as anything else was Satoshi's design genius. There are easy ways to remain anonymous and 'launder money' with Bitcoin. Most veteran bitcoiners know this. Yes, banks can be used to launder money too, but the bankers themselves are in control, so that's why they don't mind. You see? |
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April was when you got goxxed I believe.
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Why do banks and governments see Bitcoin as a threat?
It interrupts the paper trail and makes it harder for them to trace money, stop crime, and impose taxes. Why do hackers want our coins so badly?
To sell for fiat or buy merchandise and services, drugs, guns, hitmen, hookers etc. |
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Wrong? No yet ...
No they were wrong because they had specific dates and short term implications attached, like "will bitcoin fall below 700 support" and "when will the next rally start". |
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I have a significant amount of bitcoins on cryptsy because i find trading doge to much more productive than trading usd at this point. That doesn't mean it won't go lower.
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It's funny how every poll here always has the most votes for the most bullish option and the bulls are always wrong.
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Don't listen to the echo chamber; no one has ever gone broke by locking in profits.
probably greatest line of advice this year Lock in profits in what currency? Yeah, you made few more monopoly bucks and meanwhile lost the only real money you had. well, the last position I closed I did by paying off the monopoly money margin and keeping the remainder  Using margin for the least amount of time is generally the right thing to do. One needs very good reasons to deviate from this. I only continuously use margin during the major rallies, like in November, and I keep my liquidation price at no more of than 1/3 of the price. |
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it doesn't look good. there's too much God damned buying in bitstamp. even with bitcoin withdrawal closed.
are the ATMs linked to Bitstamp? I don't know, possibly. Almost everything is linked to Bitstamp (a weakness). Would this cause million dollar purchases though? |
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Shit this is that classic thread that indicates a floor has been hit. i was really hoping for cheaper coins.
You said less than a week ago that Bitcoin was going to do nothing but trend at $800. (you were proven wrong within 3-4 hours). Not all of my posts are to be taken seriously, including the one you are quoting. I was making jokes about 800 because we had bounced back to 800 5 times already and I was getting sick of it. |
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Shit this is that classic thread that indicates a floor has been hit. i was really hoping for cheaper coins.
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it doesn't look good. there's too much God damned buying in bitstamp. even with bitcoin withdrawal closed.
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The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox). According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/Are you saying that the eToro platform integrates bitstamp and btce? |
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"If an exchange is performing regular, valid audits and is operating in the black, then it most certainly has the money to cover withdrawals."
That's a BIG IF.
Since Bitstamp is the center of the economic universe for Bitcoin we should hope that it does, otherwise it was a weak link all along. |
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The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
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