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are here guys receiving any coins today? - no matter what kind of coins?
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 So imagine you are CEO and your company is launching a major exchange...and you decide to go on vacation at the same time..and at least 3,700 BTC goes missing. 'Premeditated'...either Freudian slip or he's basically telling us the truth for once. Wow..Just Wow. Glad I waited to deposit I think he has pretty good chances to go to jail in case he scammed user balances of mintpal. as far as I understood it the situation here is quite different to the one of mtgox. Do you really think that Kerpeles didn't scam his users? I think that Mark was more elaborate scammer. This Alex guy just made too many mistakes in his scam, the bottom point is - he is a serial scammer. It seems that he is the only one with access to the funds - I think this was a little bit different on mtgox. He will need a good lawyer - UK is quite serious regarding internet crime from what I have read so far. I can hardly understand how stupid this guy is - he is known, his scamming past is known, it is known that he is the only one having access to the funds. What does he expect, that he can run away with around 2kk$? |
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I agree with you binaryFate. The last missives said there should be a new revision of the in-progress client within 1-2 weeks (from last Monday). 2. The GUI, too, is progressing at a slightly reduced pace. We hope to update the preview binaries in the next week or two.
I'm not sure the GUI is really enough though. It will give a one-time bump in interest once it reaches a minimally usable stage, but beyond that more needs to happen to increase the size of the user base. Some of those things are external. For example, right now my feeling is that the entire cryptocurrency phenomenon is also in a similar place (in terms of user base being stagnant and not really reaching new markets at all). Exactly. Look ... assume a gui will take ALL the users from bbr. That's 500k worth of growth. Since bbr already has a userbase and it's own market it's nieve to think the gui is worth more in growth than all of bbr. I'm not sure there is much that can be done to the coin that will increase growth. People who are interested in Monero as an anon crypto are bought in already. Making the mining algo less friendly to bonnets and more friendly to everyday pc users might help if it could be integrated with real life uses for small amounts. . I leave my computer mining at the office for a week and I can bet on poker, fantasy football, play rpettlias game, bet on winning Civ 4 tournaments, etc might grow the userbase. The key being get more of the pie to miners who are mining to use it rather than professional miners or bonnet farmers Otherwise it will be external factors Imo . Pulling in the darkmarkets. . Increased government regulation and focus on crypto that drives a boom in anon. . Greater bit coin adoption. I believe in the future crypto currency will be adopted due to external factors. Monero just needs to make sure it's the defacto choice of anonymous currency and if/when this happens. The leader in anon will be adopted. But it is impossible to change external factors from inside the Monero ecosystem. Rpetilia have you thought about bundling a miner into your game that mines gold straight to a user's account? There's also the opposite. Increasing amount of tools to deduce Bitcoin's pseudo anonymity(Blockchain tracking/analysis programs). In the not too distant future, tools like that will be made public or for a price, and they will have great effects(negatively) on Bitcoin's privacy. bitcoin is what it is and that is great: it is a decentralised transparent ledger. I think it will even get more transparent - hopefully not leading to a fungibility crisis. there will be without a doubt a second dominant ledger - a decentralised private ledger. I do not know if in the end it will be monero - at this point of time it is not unlikely. |
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So imagine you are CEO and your company is launching a major exchange...and you decide to go on vacation at the same time..and at least 3,700 BTC goes missing. 'Premeditated'...either Freudian slip or he's basically telling us the truth for once. Wow..Just Wow. Glad I waited to deposit I think he has pretty good chances to go to jail in case he scammed user balances of mintpal. as far as I understood it the situation here is quite different to the one of mtgox. |
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...
assuming you invest in a currency of country which has a limited supply of money and you can be pretty sure that it will never be changed.
assume further that this country has the possibility to fill some niches in the global economy
you think it is insane to invest in the currency of this country?
If the currency is inflating @ 10% a year, and its dollar exchange rate has fallen by more than 50% in 2014? Let's just say "not very smart." the dollar exchange rate has increased by around 150 times in the last one and a half years - very smart investment  induction as an indicator over time is stupid. you can argue that my assumptions are wrong or that the niche is very small but arguing over charts is beyond stupid if these assumptions are true and the niche is big enough you can say that investing in this "currency" is sane. Bitcoin's exchange rate has gone up infinitely over the past five years. There once was a time when it was worth exactly nothing. Extrapolating from that, your future profits should also be infinite. If you wish to get back to reality, you may consider Bitcoin's performance in recent past. Since December of 2013, the price has been steadily declining. If your reasoning proves anything, it proves entirely too much. It proves that any investment which did well in some distant past is bound to be profitable in the future. Regardless of its recent performance. I hope I do not need to dwell on the folly of such assumptions. Re. "induction as an indicator over time": wat? what I said is that you cannot take the price as an indicator of the quality of an investment - you cannot build a theory from observation if the observation is constantly changing (as the price or the chart of bitcoin). what you can do instead is build a set of assumptions and say if they are valid or not valid. to be fair you need a point of reference - according to this http://www.reddit.com/r/Bitcoin/comments/1sowur/how_is_a_2600000000000_market_cap_for_btc_possible/the market cap of gold is 8 trillion, the one of us bonds is 35 trillion - bitcoin at this point of time is 5 billion [I think most people do not realise how small this on a global scale]. so golds market cap is more than 1000 times higher than the one of bitcoin - I assume that bitcoin never catches up, but to assume that there is place to grow is definetely not insane. at this point we do not know how big the niche of bitcoin in the financial will be and let us not end arguing about pascals wagers, but that the niche is potentially existent is reasonable. |
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...
assuming you invest in a currency of country which has a limited supply of money and you can be pretty sure that it will never be changed.
assume further that this country has the possibility to fill some niches in the global economy
you think it is insane to invest in the currency of this country?
If the currency is inflating @ 10% a year, and its dollar exchange rate has fallen by more than 50% in 2014? Let's just say "not very smart." the dollar exchange rate has increased by around 150 times in the last one and a half years - very smart investment induction as an indicator over time is stupid. you can argue that my assumptions are wrong or that the niche is very small but arguing over charts is beyond stupid if these assumptions are true and the niche is big enough you can say that investing in this "currency" is sane. |
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People who try to sell bitcoin as a way to protect one's investment from inflation should be jailed, IMHO.
Surely everybody who has a different economic opinion than yours deserves to rot in jail..... No, just those who try to swindle others by selling them shares of dry oil wells, water-powered cars, ponzi schemes, etc.. No sane person would invest in cash, unless the money came from some illegal activity, or one is trying to evade taxes. Real estate, and stocks of large, established and diversified companies are usually a safe investment. Even if they are overpriced at some point, and may crash eventually, there is a limit to how much they can go down before hitting their fair price. Since they are material property, their real value will not be affected by inflation. For those who are too lazy or small to use those investments, there are many bonds and investment funds that are somewhat riskier and offer smaller returns, but will still protect from inflation. I don't have much to say about gold, except that it seems to be vastly overpriced, and its price charts are not nice at all. No one can honestly predict the future of bitcoin. It may rise again to thousands of dollars, or it may be superseded by something else and go down to zero. It is a big gamble, a lottery ticket with unknown odds. People should be free to gamble, but must know that it is gambling and not investment. assuming you invest in a currency of country which has a limited supply of money and you can be pretty sure that it will never be changed. assume further that this country has the possibility to fill some niches in the global economy you think it is insane to invest in the currency of this country? |
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People who try to sell bitcoin as a way to protect one's investment from inflation should be jailed, IMHO.
can you explain that? or is this just from observation of the chart over the last 10 months? Or is this a question of timeframe? I really want to understand that attitude. |
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Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.
Something is wrong here
When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket. What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver? seriously I do not know what the F*** is wrong with this market - I am not in the cannabis business but how much does one gram cost 8$-12$? this stuff is traded at 5 cents, with 90 Million Coins - I want to see the vendor who sells 90 million grams for 5 Million$. This stuff simply does not make any sense at all. Regarding xmr price - this is the price I expected to be around the buttom (in btc terms) in boring times of xmr - there will be less boring times ... |
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5,46 btc
3000 (!) xmr- (hope my book is wrong here)
~200 drk
if I read all the stuff correctly today I think there are chances that we get our coins (especially btc) back. I am most worried about my xmr - it was my hot wallet and you guys know this is the special altcoin ...
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34k Bitcoins missing... that clears that 30k sell wall on Bitstamp  where do you have the info with the 34k bitcoins from? |
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if this ends as bad as I think I would give 35% of my holdings on mintpal for legal actions.
cryptocurrencies simply do not vanish they have to be at another place
mintpal worked great for a long period of time having around 500-1000 btc revenue - they simply cannot have burned it all
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Pelase, remember, this is THE QUALITY TECHNICAL ANALYSIS thread.
Thank you.
1. Still coming off a bubble. 2. There are 650,000 BTC ($221,000,000 USD @ $340) stolen MTGOX coins being sold off not so slowly 3. The mining community is done. They cant compete with the big guys. Centralization 4. 3600 bitcoins are created each day. @ $340 USD that is $1,224,000 that needs to come in to the market each day just to stay @ $340. Analysis this I know from first hand big players that are buying directly from miners like crazy. I am talking about billion budget entities.. How much of their billion dollar budgets are going into BTC? .1%, 1% 10%? Makes a difference, no? 2bn At this time, no one is investing $2 billion into bitcoin b/c otherwise BTC prices would be going through the roof. $2 billion is more than 40% of bitcoin's current market cap. Even attempting to currently invest $500 million into BTC would probably have a very considerable upward pressure on BTC prices. I am NOT sure how such an investment of let's say $500 million would be able to be hidden or to NOT cause upward BTC price slippage. Let's say that the company is a $2billion company, and they decide to invest 10% into bitcoin (that would be fairly aggressive), then that would be $200 million. Still I would find it difficult to hide or NOT to cause upward BTC price slippage with that amount. So maybe they are investing 1%, which would be $20million? Still bullish, but possible to hide, in my humble opinion. S. America bank will buy slowly on behalf of a very known one (they don't want to be seen). Can't say more nor I am 100% sure, though my source is very reliable. They will invest 2bn. Maybe it is not true, who knows? maybe I am overly naive but how do you hide investing 2bn from a balance sheet and much more important why should you? |
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the only reason I am not buying more is that there will probably be a serious competitor in the next 6-8 months. otherwise I would buy much more.
there is place for one serious private ledger and that one will be very very powerful in the long term
moneros chances to be that one are quite high
If there is no GUI wallet before this then It will all be downhill. Hey look I'm in a Moderated topic. This post will be deleted because I'm not delusional. I wrote long-term due to this. my argument at this point of time there is no real competitor to xmr there is darkcoin, which is technically inferior and very close to the already existing mixing technology in bitcoin there is bbr, which is at least from the technical perspective on the same level. that said bbr came second, which is bad luck and so the userbase is maybe around 10% of the existing userbase in xmr. there is anc which is in alpha stage. the "mixing" will probably even be superior but what is missing is the blockchain obfuscation (I am not entirely sure on technical aspects of a zerocoin implementation). I think all others can be seen as pump and dump at this point - maybe I do darknote wrong, but they were the third implementation of cryptonote protocol.... I hedge my privatecoin portfolio with these three currencies, but at this point xmr seems to be leading. the most eminemt question for xmrs' long term success will be the question of how well zerocash will be implement and if it works. I got doubts that it works properly and that people trust a system they do not understand but we will see. I have no doubts that there will be a decentralized private ledger which will be huge the reason for this is that I cannot see any other way to create something like this. And this niche is huge. |
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the only reason I am not buying more is that there will probably be a serious competitor in the next 6-8 months. otherwise I would buy much more.
there is place for one serious private ledger and that one will be very very powerful in the long term
moneros chances to be that one are quite high
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when do bears get burned? *g*
do not fully understand their shorting games played on bitfinex
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leverage in simple terms: you want to go long leveraged x10, you give the exchange your $1000 and they buy bitcoins for you with borrowed $10,000. You are free to sell whenever you want, so you get x10 profits if bitcoins go up (you return 10k when you sell, obviously). With one catch - if "your" bitcoins value ever goes down to $9000, it will be sold immediately (usually a little bit earlier to account for slippage), so exchange will have their 10,000 back (9k from sell plus your initial investment).
So, while lucrative to make more money than your deposit otherwise allows, it is *extremely* risky and *extremely* stupid in a volatile markets such as this one. Your deposit will get wiped ("margin call"ed), sooner or later. Don't do it.
If you just buy, i.e. leverage = 1, you can easily live through prices dropping to $1 per coin and come back a winner. With x20 leverage, you will lose all when the prices drop 5%.
The best and wise advice I have seen on this thread since 2011. And in this sea of bullshit, trolls, and worthless human being writing here, it deserves a major attention. Well wrote. Thanks for the great explanation and advice. Is margins getting called part of the reason for those huge drops straight down in price that happen every now and again? guys no matter what your objectives and interest in bitcoin is - please do follow this advice. the moment any serious investors sees that a market is mostly driven by this kind of investment, he does not walk away he RUNS. edit: is there a good overview about the use of these instruments in bitcoin sphere? I heard some strange stories from china. |
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The price is going down it seems, is it still cheap or was this a one time pump?
If Overstock starts trading their shares on Counterparty platform, there is a high chance that they will issue a OVRSTCK/BTC trading pair and that trading pair would enjoy most of the volume. As far as I know Counterparty allows asset-to-asset trading. CEO of Overstock being invested in Bitcoin and being the market maker for their own shares would be willing to support the price of Bitcoin, and would only need a small amount of XCP for transaction fees. Same would go for buyers of Overstock shares. It's not clear how this would help drive demand for XCP. the thing is that they do not only want to write a security on counterparty (which I assumed) but use the protocol in a wider way and built a whole front end application. let us see how and in what way they will use xcp. Following the early posts of the core developers, they said that they only get monetarily rewarded by their protocol building in the case that the native currency is gaining traction. all that being said it is a great announcement for counterparty - do not forget this is little more than 9 months old. |
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I'm surprised XCP / BTC volume is so low! I thought it was going to go wild after this announcement, but we're looking at 148 BTC in volume over the past 24 hours. I definitely picked up a few XCP. An "open checkbook" from Overstock is a pretty big deal.
Read the story....Overstock hired 2 XCP devs for their own 'Medici' project (which seems to resemble CounterParty). I don't know what the consequences will be for CounterParty itself. Any XCP dudes in the house with some input? That's the impression I got: Medici will be a fork of Counterparty, not Counterparty itself. Everybody, there is an enormous amount of misinformation going around in the press. We're working to fix that ASAP. In the meantime, please help us correct errors as you see them!
For the record:
1) Overstock.com and Counterparty are partnering to build a platform (Medici) for trading stocks on Counterparty and using Counterparty's decentralized exchange.
2) I, along with Ouziel (JahPowerBit), will continue working on the Counterparty protocol full-time. Robby and Evan will continue to work on Counterparty full-time because Medici is a front-end for Counterparty.
The Wired and Coindesk articles make it sound as though we are abandoning this project. Nothing could be further from the truth!
Thank you,
Adam
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