People@Bitstamp please but in your buy orders faster! Someone canīt wait to fill em! 1. Dump 2. buy into your own ask walls to create a bit confidence and keep the price @ the same level, altough support is getting thinner and thinner 3. let them build new buy orders 4. repeat Same thing happened @ 800$ on Stamp for a few days before the breakdown started  good(bad) thing for the bears: It seems that it is just someone trying to leave the game and not a bearish manipulator(tryin to crash the price and rebuy lower)  Bulls just have to replace all the money that is leavin (+ new coins mined) and we wonīt crash hard immediately |
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So i guess itīs time to go all in now? If wall street ainīt scoopin up all the cheap coins then sure thing the greeks will do. @macsga have you already convinced all your family and friends to put all their money into Bitcoin if greece should abandon the EURO  |
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cough cough
Where does it say, that the amount was in bitcoin that was stolen ? The quote shouldnīt refer to your reply. It was directed @cashtraderuk, and the dozens of other people who tried to deny the figure yesterday and today. |
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I'm not sure this story will turn out fake, but I'm pretty confident it has been over-exaggerated with the reported losses.
If the figures were true the bitcoin exchanges in China would have re-acted more violently which in itself is a sign that they are not taking the story seriously.
Its actually not fake news, but the story involves fiat, and is just simply related to bitcoin. The loss was incurred in fiat, and the company was relted to bitcoin. This is the article on Finance.yahoo.com: Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more.
"The number of cases is increasing. These two days I received calls about more than 30 cases. We estimate more than 3,000 people and HK$3 billion are involved," he told AFP.
https://finance.yahoo.com/news/alleged-bitcoin-scam-leaves-millions-missing-132209213.htmlcough cough |
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This is the article on Finance.yahoo.com: Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more.
"The number of cases is increasing. These two days I received calls about more than 30 cases. We estimate more than 3,000 people and HK$3 billion are involved," he told AFP.
https://finance.yahoo.com/news/alleged-bitcoin-scam-leaves-millions-missing-132209213.html Impressive Thanks, for the update! |
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Remember kids... the price doesn't matter, bad news doesn't matter, China doesn't matter. Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO. Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.
BillyJoeAllenRedneck firefighter who can't spell his own home state correctly
And of course even those with an education are wrong, wrong, wrong. So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry. Yanis Varoufakis admits he's a Marxist, which means he's still clinging to the thoroughly discredited Labor Theory of Value when it was replaced by Marginal Utility by all non-Marxist economists about a century ago. Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks? Beware the short squeeze boys and girls. It's coming. Iīm pretty sure this is the reason why people attack you... BillieJoeAllen - Destroyer of our oppressive financial system. Some call him savior! Be careful! Illuminati is watching you! |
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This is the article of coindesk : "Reports are emerging from Hong Kong that local bitcoin exchange MyCoin has shut its doors, taking with it possibly as much as HK$3bn ( $386.9m) in investor funds. If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each." http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/So it really happened ? China are good in banning stuff (Google , Gmail etc ...) , now they will block the whole Bitcoin and R.I.P Price , It will probably affect a lot on Bitcoin price since they have a lot of users there (I guess .. since they 1 billion citizens) ~ Madness New "regulations"( Total bans) will probably be introduced by the PBOC in the next 2-3 weeks, maybe earlier. Weīll see. |
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Donīt worry bulls , wall street will step in any minute now and save your sorry asses.
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Fresh fiat coming into BTC soon.
Buy whilst you can still afford it.
Don't miss this opportunity.
Are those bags starting to feel heavy? Are you trying to find new "customers" to unload them? |
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Thatīs even more discount than Gox gave at the end. |
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Did the news of mucoins.hk affect the price in anyways ?
Sure a lot of new investors in China canīt wait to throw their money into Bitcoin after that news. Expect a rise to 500$ soon.  |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
Correct that far. However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin. That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion. There may be repercussions on exchanges. And then we have the current dump. Just a coincidence, or triggered by the mycoin.hk news? that "dump" didnt bring us really down...also looks like a lot of the shorters put their stop position above 200usd...so only attempt to make a quick buck out of the news...looks like it isnt working and tighter regulations would be a good, because more secure thing...nothing wrong with that A lot of these orders will get pulled as soon as we get near them and a lot of stop loss longs will get triggered. |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
Correct that far. However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin. That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion. There may be repercussions on exchanges. And then we have the current dump. Just a coincidence, or triggered by the mycoin.hk news? Letīs hope that the PBOC putīs an end to this scam and finally protects itīs citizens. I already wrote them 3 mails in the last 7 days. |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
This essentially has nothing to do with Bitcoin. The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism. Of course suckers at the bottom paid the bills for the ones at the top. No actual Bitcoiner was hurt in this experiment Letīs just hope that you are not one of the suckers when the next exchange (Bitfinex, okcoin...) blows up, cause they are probably acting with fractional reserve. Which means that you never had or traded "real bitcoins" (aka mining revenues, trading performance). |
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Bitfinex protection mode activated! Everyone is about to get burned!
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YOU HAVE BEEN WARNED HOURS AGO BULLTARDFOOLS!
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HOLY SHIT! ITīS CRASHING. IT LOOKS LIKE MOST OF THE CHINESE HAVE FINALLY READ THE NEWS! IT`S LOOKING TERRIBLE!
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I also have no respect for anybody that doesn't invest in or buy BTC independently on their own.
Who the hell hands over large sums of cash to exchanges or supposed trusted investors?
BTC is supposed to give you as the investor power as your own bank.
So i guess you have bought all your Bitcoins on localbitcoin.com and never touched an exchange before? |
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BITFINEX (HONGKONG BASED EXCHANGE ) IS ALREADY CRASHING! |
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3000 and only 30 want to go to court?
I understood that 30 victims contacted a local Councillor because they had no proof of investment and thought that the police would not take up their case. The Councillor directed them to the police, let's see what comes of it. (...) estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($12,890) each. Are you suggesting to us that numbers brought forward by an apparent ponzi scheme promoting their scam to suckers should reasonably be assumed to be truthful? I know that the denial is strong among the bitcoiners, but according to some websites these numbers have been reporterd by the "inverstors" and not by mycoin.hk. http://www.scmp.com/news/hong-kong/article/1707565/investors-fear-hk3b-losses-closure-bitcoin-trading-company"Investors said they were lured by promises of a HK$1 million return in four months for buying a HK$400,000 bitcoin contract which would produce 90 bitcoins on maturity." "An 81-year-old woman surnamed Chan said she recovered only HK$1.2 million on her HK$3 million investment on seven bitcoin contracts. " "No one seems to know who is behind this, said a woman surnamed Lau, who saw her HK$1.3 million investment in four bitcoin contracts evaporate. " Can you read? The HK$3 billion figure is based on an earlier statement by the company that it had 3,000 clients in Hong Kong, each investing an average HK$1 million.Can you calculate? You forgot to write your wrong 12890$ convert behind your HK$1 million this time. Well whatever, it seems that the chinese are finally reading the news and BTC/CNY is about to crash. Most likely angry parents will force their kids to take their money out of that ponzie. I expect a bloodbath this week. |
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