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anyone try to withdraw from lakebtc - both fiat and BTC?
would lakebtc please tell us a bit about your company, where is register, how does the China potentially affect you guys etc.
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I also request regular withdraw on Sunday and not yet processed - monitoring.
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the spread between mtgox vs bitstamp is getting larger, more mtgox withdraw problem?
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Actually a lot of people are speculating on big hashrate coming from china as from last 1-2 days
Source? look at the unknown in blockchain.info but given tape out is on 20th, even if it's successful and ahead of schedule, it can't be ready for mass deployment yet. |
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$800 actual gox bottom, $650 if some major FUD comes out in the following weeks, $500 if proudhon's sources are correct  proudhon is full of BS, provide links to some Chinese government site to make the FUD look authentic while none of the links contain anything about BTC. |
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Bitfinex could be illegal in Hong Kong because interest rates >60% p.a. are forbidden. I considered using them as a dirty fiat savings account, but decided against it for this reason.
Also, I would never short Bitcoin or play it on any sort of leverage.
I don't think HK has any usury laws |
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If you are just planning on trading coins for cash, do it on the exchange wallet.
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I don't know how you are setup, but there maybe up to 3 separate wallets, one is margin trading, one is exchange, and one is deposit. If you have balance on exchange but try to sell on margin trading, then it'll complain.
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I don't see bitstamp orders listed on level 2 order book, problems?
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I'm more inclined to believe the Chinese volume is real. With zero fee, the amount of $ in play does not get reduced each time a trade take place and it is possible to generate huge volume without resorting to fractional reserve scheme. Assuming they are not running a fractional reserve shop, the market depth is more a determinant on China's impact. You can have 25 'professional traders' or bot keep going back and forth on the buying / selling the same 20 BTC like 200 times and voila, you have 100000 BTC trading volume - kind of like prop trading.
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i thought huobi and also OKCoin have zero trading fee, which inflates the volume.
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update: OS refunded my funds after the glitch...in bitcoins! even though the price went up. will be buying from them in the future.
Same with Bitchick. She accidentally overspent .68 and got .7 in return. how does this work? anyway to get some free btc? |
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Happy as hell I sold out of this sham @ half of what I bought into it with.
If you see my post above, I was a huge advocate of this company until they duped their all their shareholders.
**** off CaVirtex. This is one Canadian you'll never see one dime from.
What happened? Collect our BTC. Hold it and do whatever they want with it. Promise "dividends" State in December that the first dividend will be "worth it" Declare delisting, share values plummet, and anyone who doesn't want Bitcoin investments attached to their legal entity is now ****ed. They dangled the carrot as long as they could, now they're laughing. They haven't even touched $100,000 in profits this year, yet the shareholders have given them over $1,000,000 (assuming they held a majority of their BTC) for "10%" of the company. **** them. Did they give financial updates? Way better than 796.com though. |
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they do not allow private trading of shares? did they provide any updates on their business plan or financials?
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Anyone willing to kindly share what's going on now with VTX?
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I think they'll do it by way of an auction rather than dumping on the exchanges - otherwise, it implies that they recognize the legal status of those exchanges.
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With trading no longer available, anyone want to sell OTC? Or is it even possible?
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No more news? So I guess you can say he got away with it.
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I find the valuation rather rich. From bitcoincharts.
7d 1,216.51 919,683.19 755.9997
30d 19,107.26 14,742,502.46 771.5653
6m 119,003.73 38,486,617.22 323.4068
1y 346,498.75 57,123,055.30 164.8579
The last 30 days is rather volatile, let's discount that volume for a second. From this, we can see the first 6 month of the year, volume is approx
$18.6 million. Volume for the past 6 month minus the last 30 days, for a total of 5 months, is $23.7 million. I highly doubt the volume of last 30 days is sustainable over the year. Let's be very liberal, and assume they do $100 million in volume next year, revenue will come in at $3 million (1.5% fee x 2) unless they do market making (activities such as arbing across exchange) or having other income sources. Just having 8 full time + 6 part time doing call center (verification) function is quite costly, plus you have programmers, marketing people, etc. where the latter don't earn minimal wage. There's other general administrative expense like rent, office expenses, etc. so that doesn't left a lot for profit. If Virtex engaged in market making, it would had been quite profitable but I don't think they are into that - otherwise, the price difference between Virtex and other exchange would not have been so dramatic throughout the whole year. However, with prices now a lot closer, market making will not be a big revenue driver even if they engage in it now.
Right now, the whole thing is valued at $12.5 million and you have the threat of dilution (the CEO is looking for new source of fund).
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