This is a good sign. Bitcoin is taken seriously and they are already thinking about possible regulation! Just to make sure that when this industry takes off the US will be part of it and not lagging behind! + 1 Like it or not, regulation is what's going to take bitcoin mainstream, and is therefore, very bullish. Hmm... Yes, but this is the Department of Financial Services of New York and...
The New York Stock Exchange, located on Wall Street, and the NASDAQ are the world's first and second largest stock exchanges, respectively, when measured by average daily trading volume and overall market capitalization.[21]
Financial services account for more than 35 percent of the city's employment income.[22]
New York City has been a leading center of finance in the world economy since the end of World War I.[23]
As of August, 2008 the city's financial services industry employs 344,700 workers.[24]
Manhattan is home to six major stock, commodities and futures exchanges:
American Stock Exchange, International Securities Exchange, NASDAQ, New York Board of Trade, New York Mercantile Exchange, and New York Stock Exchange.
This contributes to New York City being a major financial service exporter, both within the United States and globally.
The 344,700 workers in the finance industry collect more than half of all the wages paid in Manhattan, although they hold fewer than one of every six jobs in the borough.
The pay gap between them and the 1.5 million other workers in Manhattan continues to widen, causing some economists to worry about the city’s growing dependence on their extraordinary incomes.I'd say NYC is probably the one place that has the most to fear from Bitcoin out of all the cities in all the world.  |
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As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target
Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m. http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price- |
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Guys, guys! I was out digging for dead horses, and...  Which stage best matches the current/recent market sentiment? It seems to me we climbed the whole optimism-excitement-thrill-euphoria mountain over these past few months, without really noticing. Currently slip sliding from euphoria towards anxious denial. |
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We should send Richard G. Brown from IBM. Failing that, short notice and all, send his arguments. |
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What a sad story , he should learn more about btc before buying tons of them  He didn't lose anything. Tradefortress hosted a one-man MyBitcoin style wallet service. Under cover of anonymity. He copied Bitcoinica's "ye olde email account hack" into Linode control panel password reset story for "plausible" (HA!) deniability. He then stole the money. |
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Learn from your mistakes (we learnt from ours, sure) and use your experience to reset your business career. You are young and life is long to keep regrets forever.
(as I stated before, all my coins for the moment are sealed in coinlenders and if TF does not pay something, my very survival is questionable beyond the next few weeks, seriously)
I'm terribly sorry.  Hey, bradyon! Listen... Please talk to someone, anyone. None of this is worth your life. Get even, get revenge. Take a lesson from Cave Johnson... When life gives you lemons, don’t make lemonade.
Make life take the lemons back! Get mad!
I don’t want your damn lemons, what the hell am I supposed to do with these?
Demand to see life’s manager!
Make life rue the day it thought it could give Cave Johnson lemons!
Do you know who I am? I’m the man who’s gonna burn your house down!
With the lemons! |
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 crikey |
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5:56 pm Nov 7, 2013 | REGULATORY Judge Orders CoinLab to Pay Up…in Bitcoin
A well-known bitcoin company has been ordered by a judge to produce and deliver the virtual currency to a New York investment firm that accused it of reneging on their contractual agreement. Judge Robert W. Sweet of U.S. district court for the southern district of New York barred CoinLab Inc. from delivering the virtual currency to any other parties before it meets its obligation to Bitvestment LLC. The dispute underscores the frenzy surrounding bitcoin, a virtual currency that isn’t backed by a central bank. It is produced electronically using computers, and enthusiasts trade it on exchanges and privately. Some merchants are now accepting bitcoin as a method of payment. Bitvestment sued CoinLab last week for breach of contract, contending that the Bainbridge, Wash.-based company isn’t living up to its obligation to provide 8,000 bitcoin under an August arrangement between the two firms. One bitcoin was worth $295 Thursday afternoon on the volatile Tokyo-based Mt. Gox exchange on Thursday, giving the disputed 8,000 bitcoin a value of $2.36 million. The process of generating bicoin is known in the industry as “mining.” CoinLab Chief Executive Peter Vessenes has said that the lawsuit was a contributing factor in last week’s bankruptcy filing of CoinLab’s mining unit, which is called Alydian Inc. Mr. Vessenes is also chairman of the Bitcoin Foundation, a nonprofit trade group that promotes the virtual currency. Mr. Vessenes noted in an email on Thursday that CoinLab itself has no mining operations, but “of course we will comply (with the judge’s order) as well as we’re able.” It isn’t clear if Alydian is still generating bitcoin while it is under bankruptcy protection. He also said that CoinLab was pleased that the judge denied other requests from BitVestment, such as seeking certain financial data from officers of CoinLab and Alydian. “We continue to treat this as a simple contract dispute case, and feel confident on the merits of the case,” Mr. Vessenes said. Bryan Reyhani, a lawyer representing Bitvestment in the case, declined to comment on the judge’s ruling. http://blogs.wsj.com/moneybeat/2013/11/07/judge-orders-coinlab-to-pay-up-in-bitcoin/Thoughts? |
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5:56 pm Nov 7, 2013 | REGULATORY
Judge Orders CoinLab to Pay Up…in Bitcoin
A well-known bitcoin company has been ordered by a judge to produce and deliver the virtual currency to a New York investment firm that accused it of reneging on their contractual agreement.
Judge Robert W. Sweet of U.S. district court for the southern district of New York barred CoinLab Inc. from delivering the virtual currency to any other parties before it meets its obligation to Bitvestment LLC.
The dispute underscores the frenzy surrounding bitcoin, a virtual currency that isn’t backed by a central bank. It is produced electronically using computers, and enthusiasts trade it on exchanges and privately. Some merchants are now accepting bitcoin as a method of payment.
Bitvestment sued CoinLab last week for breach of contract, contending that the Bainbridge, Wash.-based company isn’t living up to its obligation to provide 8,000 bitcoin under an August arrangement between the two firms.
One bitcoin was worth $295 Thursday afternoon on the volatile Tokyo-based Mt. Gox exchange on Thursday, giving the disputed 8,000 bitcoin a value of $2.36 million.
The process of generating bicoin is known in the industry as “mining.”
CoinLab Chief Executive Peter Vessenes has said that the lawsuit was a contributing factor in last week’s bankruptcy filing of CoinLab’s mining unit, which is called Alydian Inc.
Mr. Vessenes is also chairman of the Bitcoin Foundation, a nonprofit trade group that promotes the virtual currency.
Mr. Vessenes noted in an email on Thursday that CoinLab itself has no mining operations, but “of course we will comply (with the judge’s order) as well as we’re able.” It isn’t clear if Alydian is still generating bitcoin while it is under bankruptcy protection.
He also said that CoinLab was pleased that the judge denied other requests from BitVestment, such as seeking certain financial data from officers of CoinLab and Alydian.
“We continue to treat this as a simple contract dispute case, and feel confident on the merits of the case,” Mr. Vessenes said.
Bryan Reyhani, a lawyer representing Bitvestment in the case, declined to comment on the judge’s ruling.
http://blogs.wsj.com/moneybeat/2013/11/07/judge-orders-coinlab-to-pay-up-in-bitcoin/ |
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Matthew N. Wright, where's my money?
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I'm surprised this thread isn't from summer 2011,
because there were a ton of threads like this back then.
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If you search the topic in baidu of the last week's price rise, and you search in Chinese, most posts and reports ascribe it to the recent adoption of bitcoin payment method by a web service of Baidu (jiasule.baidu.com).
These reports suggests that the adoption by Baidu is a signal that the big vendors are accepting bitccoin - consider the close tie between baidu and central government, that the government may be interested too. It is like saying Microsoft or Facebook started to accept bitcoin. That tapped on the emotion and BTC rose.
I think the big vendors are no way closer to accepting bitcoin in the last week than any weeks before. It is indeed a small change, and signals nothing from big vendors nor the central government at all.
Reminds me of American media reporting on Chinese media reporting on The Onion (Satirical Newspaper) declaring Kim Jong Un the sexiest man in the world. Or the "Bitcoin ATM Coming to Cyprus in Two Weeks ®™" story. Something was clearly lost in translation, somewhere on the way from http://jiasule.baidu.com/news/525cd5aabf9efd699f800e7e to http://finance.yahoo.com/q?s=BIDUThanks for speaking up! |
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180 on Bitstamp now!  |
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Millions of Yuan are flowing into btcchina.
If someone can prove that China is somehow a fake pump then I will rest my case.
Very recent (Post SR bust) Bitcoin special from chinese TV, interview with the btcchina guys and everything... http://l.smgbb.cn/live.aspx?channel=wypd&start=1382188500&end=1382191200I'm more inclined to "blame" the chinese rally on this, rather than the Baidu (Jiasule) fake news coverage. |
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Does anyone know anything about this site? If legit, does anyone have any idea what the average length of time is before an outcome can be decided and closed, and the bidders paid out?
Hmm... As food for thought, here is a bet to consider:
Prediction: Bets of Bitcoin won't be back online.
Rationale: Whenever a sufficiently anonymous service is entrusted with bitcoin without sufficient collateral,
and the amount thus entrusted is large in comparison to the profitability of the service,
that service will seize to exist when the ratio of coins coming in to the coins going out turns negative.
Deadline: January 1, 2014.
Name: coinjedi
Posts: 184
Activity: 184
Position: Full Member
Date Registered: May 27, 2011, 01:37:11 PM
Last Active: September 04, 2013, 03:27:22 AM
First, I have used BetsOfBitcoin for a couple of years. I REALLY enjoyed bets of bitcoin. That said, I would very strongly recommend against trusting them your money. Here is why: Coinjedi, the owner and developer of BetsOfBitcoin is (AFAICT) anonymous. Depositing money to BetsOfBitcoin is exactly equivalent to "sending cash to a stranger on the internet". This is a bad, problematic, entirely not acceptable state of affairs. Coinjedi could run away with all the money entrusted to the site, at any time. There wouldn't be any obvious way for users of the site to even reach him. For example: If he "forgets" to renew the domain registration, he could just take the deposited money, and... well... on second thought... he wouldn't even need to do anything, other than forget to pay the bill. That would be the end of it. Those moneys have already been given to him, and the users of the site have no choice but to blindly trust that he will return them, according to his rules. Now, when dealing in bitcoin... This trust model.... How do I put this... History teaches that it often seems to work flawlessly for a time, a long time, until it one day catastrophically stops working with little or no warning. The website in question mysteriously ceases to exist, citing "technical difficulties", followed by promises of "be back soon", followed by... radio silence forever. And your money would be gone. And you would be sad. And there would be nothing you could do to get them back. As for warning signs: The owner has not responded to users on BitcoinTalk for a month... The site seems to have fallen into disuse and disrepair as of late. SSL cert expiry, and so on... So... yeah... Does that answer your question? |
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I should have listened to this post before placing an order.
Thanks for the acknowledgement. If you're thinking of ordering from these people, trying calling them to see if you can get an actual person on the phone. Then read a page or so from their forums. Then if you still think they will deliver on time or provide any customer service, go ahead and order.
Don't say that. Say instead: Don't order from (read: give money to) BFL, under any circumstance, not now, not ever.
Latest development: I've been trying to help my friend through this process, and it has hit a problem I haven't seen before. Paypal sided with my friend and said that BFL needed to refund the money. BFL has marked his order as cancelled in their system. Now Paypal tried to get the money back to send to my friend, but there was no money in the account they were drawing on. This is the letter that Paypal sent to my friend. Hello *** ******, The refund sent by Sonny Vleisides ( office@butterflylabs.com) did not clear from the sender's bank. You have not received funds for this payment in your PayPal account. Please contact Sonny Vleisides regarding this refund. ----------------------------------- Refund details: ----------------------------------- Amount: $****** USD Sender: Sonny Vleisides Sender's email: office@butterflylabs.comTransaction ID: ******** Transaction date: Oct 11, 2013 Anyone have any ideas on where to go from here? He kind of feel like this is like issuing a bad check and thinks that there might be some kind of attorney general he could go to.
Butterfly Labs Inc. have claimed that Sonny Vleisides role is that of "VP of Product Development". I believe that claim to be false or at best misleading. Likely false in everything but name. I believe Sonny Vleisides is still the acting day-to-day general manager, the head of operations, the decision man, the chief executive. By any measure other than by title. See, this trick of appointing "the cleaning lady", or, as the case may be, some person in another country, to positions of responsibility perhaps in exchange for some disproportionate compensation, for signing a couple of documents every once in a while, happens to be another red flag. It's the kind of thing scammers tend to do, and honest people tend to don't.
This email, from Paypal, if accurate, seems to show that that claim is, indeed, false. I.e. it shows that the claim that Sonny Vleisides is acting VP of Product Development, is materially false. Which, you know, one could suspect, what with him having no relevant background in electrical engineering or computer science. As opposed to "a colorful background in offshore libertarianism", to borrow the words of his accomplice Josh Zerlan aka. Inaba aka. BFL_Josh. Which turns out to mean, in plain english, you tell people lies to get them to send you money, you defraud people with false promises of great wealth and riches. I congratulate the perpetrators, and extend my condolences to the victims of this... artful operation. Sonny Vleisides has pulled it off again. I hope this thread saved someone.
PS: To the people who paid about a million dollars (at todays valuation) for an ASIC minirig on the night of June 23 2012: Please try to find out what happened to your money. What fraction was converted into cash. How much of it was retained in BTC. Do it before they "run out of cash reserves" and shut down / file for bankruptcy / run for the hills, with your money. Where is it today? How much can be recovered? You've been swindled, you've been abused, you've been lied to repeatedly. That just ain't right. It's time to wake up, get angry and go to court. |
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perhaps the curse has lifted?
BRB: Shopping for top hat and monocle. |
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When I see those thread then I know it's a good timing to short.  Yep short it. I dare ya! Hmm... Bitcoin Parabola Not Enough? Here Comes Bitcoin Opportunity Fund... This Time With Leverage!Submitted by Tyler Durden on 04/10/2013 10:12 -0400 With Bitcoins changing digital hands for over $260 this morning, having doubled in a week (and exponentially risen in weeks), many have asked how to 'trade' or 'short' this virtual currency. Well, perhaps the answer is here. As TechCrunch notes, Coinsetter - a NY-based startup looking to launch a trading platform for Bitcoin has raised $500,000 in seed capital. The platform will allow leverage (via margin) and the ability to short the market. We can only imagine the hour-by-hour margin changes. Furthermore, Coinsetter intends to offer accredited investors (because wealth equals smarts, right) the ability to earn interest on Bitcoins. To put his money where his mouth is, Lukasiewicz, a former JPM investment banker, has said that he will "put up at least $50,000 of his own money towards the platform's initial margin reserves." Forget NFLX; Ignore FNM; day-trading Bitcoin with leverage is the new normal. What's the opposite of catching a falling knife? Short this...on margin...  ... http://www.zerohedge.com/news/2013-04-10/bitcoin-parabola-not-enough-here-comes-bitcoin-opportunity-fund-time-leverage |
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