This forum has degenerated so low. It's going down the toilet.
It came out of it. so a man took a shit |
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The question remains what their actual task is. Is it to protect the citizens or companies of Hong Kong form something? Is it to retain control over the supply of financial vehicles - as ordered by the government? If it indeed was one of those things, they effectively are obliged to take a stand on this.
I don't think they have any explicit task to do except manage the supply of Honk Kong Dollars, and the tasks associated with it. What they did was probably just a self initiated PR move to show Hong Kongers "The central Bank cares about us." |
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Well, what are they supposed to do, actually? Bitcoin is a completely new and unknown technology compared to the regular financial world and people still struggle to put it in a fitting category. Bitcoin is not regulated, it's decentralized and they can't possibly exert control over it. A central bank is best off offering such an advice, I guess...
They could simply ignore it. |
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I think itīs time to demand a pay increase from J.P. Morgan for every post. Else i wonīt keep this qualitative high frequency postin up.
-fonzie is evil. (c)JPMorgan |
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There is a saying along these parts that goes, who panics first panic best.
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What is new is the rise of just like last time topics.
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3:54PM EST  this pic explains everything that is wrong with btc-e |
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... His forte is computers, not economics. Obviously.
Just like satoshi... wait, perhaps he is satoshi?!?!  Maybe he's Mark Karpeles too and the fat boy is just a front. DPR?  Ahhh the holy trinity of Bitcoin, it should have been only one really conflicted person, but sadly there are so many more interesting personalities. |
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-fart-
...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?... Don't sweat the petty attacks from the crybaby bears. They get a little testy when things don't go their way.  That said, Jorge Stolfi isn't an economics professor. He got his doctorate in computer science form Stanford. His forte is computers, not economics. Obviously. Just like satoshi... wait, perhaps he is satoshi?!?! |
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For this to be real, the average amount per investor would be = ~$127,000 USD
It is fake.
You guys really are into that word, aren't you? "Investor" The proper term is "Sucker" |
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It's more like one million of empty promises per sucker, most of the "funds" there probably were imaginary.
Well, if each contract was 400'000 HKD minimum ( = 52'000 USD = 230 BTC), and there were 3000 clients, then the scammers stole at least 150 million USD of real money from their victims. At current prices that would be 680 kBTC. It may be bigger than MtGOX, because we do not know how much MtGOX clients actually lost. The 660 k BTC / 500 M USD figure is what they thought they had in their accounts, which (as in Madoff's case) may be a lot more than what they actually put in. Makes sense. |
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https://bitcointalk.org/index.php?topic=949455.msg10397491#msg10397491三十亿，三千名用户？你确定？平均下来，每个用户有一百万的资产在平台？我不信。 Translation: "Three billion , three thousand users ? You sure? On average, each user has one million of assets in the platform ? I do not believe." Even the chinese are still in denial. There is something that unites bitcoiners worldwide... Blinded by greed. It's more like one million of empty promises per sucker, most of the "funds" there probably were imaginary. |
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If this was an exchange like site they probably added the total amount of fiat in all currencies and the total amount of coins together to arrive at this figure.
Anyway yeah mtgox was probably bigger.
Yeah, but as a scam artist you wouldn't directly move fiat from your fake name/information to your real identity through a bank transfer. You would want to buy an asset, then anonymously move the asset to place where you can later claim it. Since this place was already involved in bitcoin it would have been easier to take the fiat and buy some bitcoins, tumble them and then move them to other exchanges to cash out the fiat +/- keep some bitcoins for later. Lets not forget that if that site as anything like gox an unknown percentage of coins and/or fiat might not have existed in the first place. If you for instance would add the amount of fake fiat "consumed" by Willy and Markus or add Chinese type double volume accounting into the mix you can arrive at nonsensical figures. Even so I think it's possible that the number is correct in a sense that this could be the amount of money "owed" to the scam victims, albeit much of it does not really exist. |
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If this was an exchange like site they probably added the total amount of fiat in all currencies and the total amount of coins together to arrive at this figure.
Anyway yeah mtgox was probably bigger.
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wow it just keeps happing.
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If Gavin doesn't update the bitcoin core with a more realistic block cap size, then you can sure someone else will.
I'm imagining an epic shitstorm when there is 100 different forks of the original Bitcoin, all claiming to be the one and only true to the holy satoshi, all incompatible to each other. People would even trade them against each other and there is a race to decimate the competition by dumping as many pre-fork coins as possible. Probably won't happen, but is the thought that counts. |
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The PBOC was real patient with Bitcoiners in the last months. But after this last event where honest chinese got scammed for millions by mycoin.hk i guess they wonīt have any other chance than totally banning Bitcoin . I will send them an e-mail with my conerns about an eventually upcoming riot in the street by chinese people who got bitscammed, just to make sure that they are prepared. This madness has to stop. If you have knowledge about other events where chinamen got scammed by Bitcoin feel free to write them: webbox@pbc.gov.cnyeh the 30 victims of the imaginary scam gona riot  lol that's a new level of denial right here. |
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I don't know whether BitPay is profiting.
could they ran a trading desk and make profits off that? I seem to recall Tony Gallippi denying that in an interview, I am not sure. In that wallet snooping site we can see them collecting hundreds of small BTC deposits (many less than 1 BTC) and occasional 500-1000 BTC deposits (some identified as coming from KnC and other miners); and sending lumps of 500-1000 BTC, every day or so, to Bitstamp and other wallets. I suppose that they are not dumb enough to leave large sums on exchanges, so they must be selling at the same pace, at whatever price. It is a pity that most bitcoin companies are privately financed, so they don't have to publish quarterly audits or other official financial statements. Bitstamp published a one-page report covering the year up to Oct/2013, containing the absolute minimum info required by UK laws (Shouldn't they be publishing the 2014 one now?). Last year, an australian bitcoin exchhange and mining operation published somewhat more complete financial reports. The current state of MtGOX spoils was published by the bankruptcy trustee. Have there been any others? He's simply lying. They are the biggest red flag currently in the realm of Bitcoin "Enterprises", and it's even more obvious than mtgox was at the time. |
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Bitcoins are not a natural resource, they are a built in example for the proof of concept software that is called Bitcoin.
Let me guess, you want to tell us about some wonderful altcoin that nobody gives a shit about because you think it fixes some technical shortcomings in Bitcoin but you don't have the economic insight to see how far ahead Bitcoin is on every count that matters simply because it has stood the test of time and gone through the roller coaster any digital currency needs to go through to establish itself as a real alternative to fiat? No, altcoins are worse, they are like building the same wright brothers prototype with another size propeller, painting it in a different color and calling that innovation. |
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