Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users
Who ever said the money was lost? You seem to be speculating based on assumptions you have no evidence for. This is the speculation forum loléd Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses. Common assumption: When a us agency seizes your account, chances of recovering funds are very slim Again, please point to a communication directly from MtGox, Dwolla, or the US government that states the funds are seized. All I've seen is the account is frozen, plus some journalistic embellishment. |
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This is a little unfair. We were definitely in a low volume, smooth rise through resistance, very indicative of the early stages of a breakout when a black swan event took place. No one saw this coming. You can't have "the early stages of a breakout" with low volume... it is high volume that defines the breakout. |
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Let us gather brethren, the inner voice speaks. I now see a dawn of destruction; theft, pillaging, carnage! A society out of control! Oh the torment! The suffering! Brethren, you must sell all your bitcoins by tomorrow! This is the end of the old order! A new order of panic and fear shall abound! Brethren, the great fall, has begun!  If this is the end of the old order, wouldn't we want to buy all the bitcoins? |
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NOOOOO, I missed pg 420 xD
Also this crash is due to the dwolla thing, if you think otherwise then that's cool too I guess, I for sure can't change your mindset.
But it's due to dwolla seizure.
That is all.
We're all glad you're here to tell us what the truth is. |
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Whoa, when did we hit $103?  Just now. |
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Your mistake is to overthink this.
If the market say sell, you sell.
Really, the market doesn't care for reality.
It does eventually, but you are correct that it can ignore it for a while. |
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Who is buying now at 110-112$ range? People who sold at what price? 150$? More? Less?
I'm buying and selling every 1.1%. MtGox must be in love with you. They make more than I do from my trading, but I still do okay. If I can get my volume up a bit I'll have lower fees. |
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Who is buying now at 110-112$ range? People who sold at what price? 150$? More? Less?
I'm buying and selling every 1.1%. |
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We are going down.
The market didn't know where to go, but now there's an obvious direction.
Don't be so sure, the bitcoin market likes traps. |
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Looks like we finally got a little bit of movement again. No test of old lows so far, but the day isn't over yet.
Thoughts?
The bull case still has some ground to stand on, but they need to hold it here. Daily RSI bouncing below 50 may make that difficult. |
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They plan to distribute 50%. If the market would accept them holding 50% I don't know. Satoshi holds nearly 10% currently, so I guess it will come down to personal preference.
Either way. Within the Ripple ecosystem, Ripples are inherently superior to Bitcoins BY DESIGN. That's my point.
I'm not sure how it could be designed so that Ripples weren't superior to bitcoin unless we had a methodology for moving coins across chains, which would be doable, but would require fundamental protocol changes for every coin that wanted to be supported. |
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Ripple focuses on credit, bitcoin focuses of assets, they are not really competing. What is good for Ripple is good for Bitcoin because Ripple is complimentary to Bitcoin. Are you a Ripple shill or did you just swallow their deception? I have noticed that this is their tactic for silently getting Bitcoiners to switch and then growing like a parasite side by side with its host to suck it dry. They downplay the role of XRP (Ripples) as mere "tokens" and "not a currency" while it is the only asset in the Ripple system that is not subject to counterparty risk. Furthermore, OpenCoin holds 50% of Ripples hoping to make a profit off them (this is what they stated in public), partly to fund development. I presume the same goes for the VC investors in Ripple. Any Ripple adoption will threaten Bitcoin because the Ripple currency is the only one without counterparty risk within the Ripple system. All other currencies have to be held with gateways. Furthermore, Ripples are required for opening accounts and performing transactions. In the longer term, there is absolutely no reason to prefer Bitcoins to Ripples if used within Ripple. As long as OpenCoin continues to hold a significant chunk of XRP, that will be a good reason to prefer Bitcoin. |
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Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users
Who ever said the money was lost? You seem to be speculating based on assumptions you have no evidence for. This is the speculation forum loléd Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses. Well I base it on that the Dwolla account has been seized I'd say the money on there is lost indefinitely I assume that the balance on MtGox Dwolla account as atleast higher than 0 Pretty solid basis imo Can you point to a direct communicaton from Dwolla or MtGox that says the funds are seized? Everything I've seen says transactions aren't allowed, not that Dwolla has seized the funds. |
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Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users
Who ever said the money was lost? You seem to be speculating based on assumptions you have no evidence for. This is the speculation forum loléd Speculation is obviously guessing, but you should at least guess based on facts, not based on other guesses. |
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Well if the lost money (on mtgox's dwola account) is relatively little and mtgox has other buffers (sure they charge 0.6% so they have money), then mtgox can probably absorb the loss instead of the users
Who ever said the money was lost? You seem to be speculating based on assumptions you have no evidence for. |
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Does Dwolla work for large amounts of money? I would think that international wires are the most important.
Depends on your definition of "large". Maximum single transaction size is $5000 by default, but they say they can process up to $99MM transactions. I'm sure MtGox has received millions through their Dwolla account over the past couple of years, but I really have no idea how much per month is going in or out. My guess is that DHS has claimed it's an AML issue because 'errorism. Might be an AML issue. Thats what coinbase was supposed to have taken care of. ooopss! Maybe MtGox couldn't legally follow through with the customer transfer because they knew about the DHS issue, but were prohibited from telling Coinbase? Stranger things have happened in the American legal system. Hmm, looks like some people are selling - did I break the news that caused a mini-selloff? Bitcoin has survived all the SEPA withdrawal problems, and it will survive Dwolla cutoff, too. Coinbase != Coinlab |
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some bears are going to get burned ...severley
The odd thing is, if you think MtGox is about to get owned by the US Govt, you need to BUY bitcoins and move them off the exchange. This was my thought too. This also leads to the theory that it's really just a couple guys trying to manipulate and buy back more coinage then they started with. well lets wait how this ones playing out... I am holding this one for now MtGox is a cancer on the Bitcoin ecosystem, it would be great long term news if people left there in droves. Like I said, buy bitcoins, move them off the site if you're actually scared. The last thing I'd go is have them wire me money, DHS could have told every bank in the US to freeze any incoming wires from them. This all still seems a little iffy. I'm surprised Dwolla would mention lawsuits no one can find record of, and MtGox would have no idea (they still list Dwolla as a withdrawal method). Seems like poor taste by Dwolla (who's CEO has blogged his support of Bitcoin) to say it's now "illegal to deal with MtGox". A lawsuit doesn't make it illegal, the DHS orders if they exist also sound questionable. If it's not a hoax it's a poorly worded notification from Dwolla. Regardless if MtGox worries you, move *coins* off the exchange, not fiat. This is a dramatic development to say the least. My first thought is that it is due to the Coinbase lawsuit against GOX. Is this a move by the DOJ due to the court case, or is this a move by Homeland Security in relation to a money laundering investigation? Wow. I hope its due to the lawsuit. I am very glad I trade with CampBX. This could actually be great news if it is due to the lawsuit, as MT Gox having a monopoly over the bitcoin market is detrimental to bitcoins core philosophy of decentralization. If you haven't yet, US residents should consider opening a CampBX account and transfer out of MT Gox. If you wish you can use my referral link to get a 10% lifetime discount of trading fees (disclosure: I get a 10% discount as well): https://CampBX.com/register.php?r=X8IT0iRWMOACoinbase != Coinlab |
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What services in your local town/city should accept bitcoin to make your town feasible for living on bitcoin instead of other currencies?
Restaurants, bars, grocery, gas, utilities. Or just a bitcoin backed debit card that automatically converts when I make a purchase. |
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If a large number of people put out sell orders much higher than current market prices in the hope of not missing a spike in the price; will that indirectly force prices to rise? Hope that makes sense.
If liquidity were an issue for a large buyer, they might take the opportunity to make a large investment. Other than that, no, and there seems to be plenty of liquidity anyway arm, just no market orders. |
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hey guys, quit bickering and sell some bitcoins... the price is rising
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