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421  Other / Meta / Re: Account Hacked Help Plz! on: August 16, 2014, 01:38:03 PM
^^ I can easily proove its my account. What i need is to get the attention of a mod so they can disable the account until my proof is confirmed and the account is recovered.  

If you can prove it's your account please do so. I'm not exactly sure what disabling the account will do - anyway regardless, the most a mod could do for you is to ban the account in question for a period of time.

It looks like this user is trying to steal an account with zero proof of anything. If he had signed a message then theymos would have reset the password email for him so he can reset his password.

This is a new low for scammers.

I must say, given that the style of writing of your account has shifted a lot since (https://bitcointalk.org/index.php?action=profile;u=87896;sa=showPosts;start=80) I would consider you rather suspicious. Any explanation for that?
I do not have an explanation that I am willing to share publicly, however I do have timing and blockchain proof that I do in fact own this account that I am willing to share with theymos or any other global moderator that asks. I could also give proof to a very trusted member of this forum subject to my desecration however they would likely need to be on an escrow list and even then it would not be everyone that meets this criteria (I have no way of proving it to them but can give an explanation - I do have the ability to prove that I own this account to a global moderator as I can give them PM #s that show proof).

EDIT: I think there is a good reason that Theymos has not reset the email for this person (AFAIK this is not something he does publicly but if he had received a signed message and looked into the account he would likely see the evidence himself). 

EDIT: (separate issue - same edit) I had sent bayuo a PM over 7 hours ago, asking him what he is doing and have not received a response as of yet.
422  Bitcoin / Bitcoin Discussion / Re: Who's brave/stupid enough to invest their life savings into Bitcoin? on: August 16, 2014, 07:19:44 AM
No guts no glory. Fiat loan incoming any time now. hahahahahahaah.... bitcoin price dropping .... will have to seriously think this when the fiat is in my hands. (I can always return all the money or lend it to someone else.)
Bitcoin @ under $500 means its the PERFECT time to buy!

Always keep your mind on the big picture, never the small (short term) one.
Now you're sounding like a used car salesman. Bitcoin sells itself. Look at the charts. Anyone can see what's going on here. Look at how many trolls are coming out from under their rocks. There is nothing but good news. Folks are selling because they can't spend bitcoins on their vacations yet. Their loss is our gain. Next year my vacation is on them.
I think the price decline is mainly due to leverage on bitfinex. There have even been a number of news articles about this.

In regards to the trolls they are only coming out because the price is declining semi-sharply. It is similar to how all the "pumpers" will say "to the moon" whenever bitcoin rises significantly.
423  Other / Meta / Re: Account Hacked Help Plz! on: August 16, 2014, 06:19:34 AM
It looks like this user is trying to steal an account with zero proof of anything. If he had signed a message then theymos would have reset the password email for him so he can reset his password.

This is a new low for scammers.
424  Bitcoin / Bitcoin Discussion / Re: Will btc help me to save on bank charges as a international student ? on: August 16, 2014, 06:01:43 AM
Hi
I am going to London form India to do my higher education, since the bank charges and cross currency charges are very high I am thinking to converting my inr to btc and btc to GDP.
This will likely be the cheapest way to get your local currency into GDP. Most banks will charge upwards of 3-5% on the exchange rate if you use them to convert currency (potentially more if one side of the trade is not a dollar, but this may be different in India). You would pay more at the airport/train station.

You could probably use a credit card to "only" pay 2-3% however you would likely have to start paying interest right away.

You would likely need to pay trading fees for when you both buy and sell your bitcoin, and this will likely add up to ~.75-1% of your total amount transacted, however it would may be less.
These amounts sound about right. One important things that is missing however is the fact that there are few outlets that you can trade currency in person, generally only at places like airports (most airports will force you to pay for parking; read: pay a fee to visit places you can trade foreign currency). This will likely result in you selling more of your local currency then necessary, making it so you will need to pay the exchange fees a 2nd time when you sell your excess foreign currency.

With bitcoin on the other hand you can cheaply buy and sell small amounts and withdraw smallish amounts from an exchange into your bank account in a foreign country.
425  Bitcoin / Bitcoin Discussion / Re: The $100->$1200 BTC bubble! on: August 16, 2014, 05:49:02 AM
you mean besides mt gox?

That was pretty much what went straight into my head
Karpeles could have just sold his coins at 1200 then buy them all back but had to go and try for a full scam.
So money was definitely made off that bubble.
I am not convinced that Karpeles was behind the Gox scam, but rather what happened to gox was the result of his incompetence. He simply does not live in a standard of living that would support that he stole those coins.
426  Bitcoin / Bitcoin Discussion / Re: The internet has become its own sovereignty on: August 16, 2014, 05:39:27 AM
and bitcoin is the currency of the internet.
anyone can move to almost any geographic area and work for bitcoin without the sovereign of that geographic area ever knowing,
bitcoin renders geographic governments powerless.

by effectively limiting government power, bitcoin and the internet are the realization of the united states founding father's dream.
and are the real land of the free and the home of the brave.
But you can still be put in jail...
You can't be just put in jail for any reason, there needs to be probably cause that you have committed a serious crime that could result in jail time. If you are held in jail without probably cause then you can file a writ of habeas corpus and will be let out of jail and can file charges against the police department.
427  Bitcoin / Bitcoin Discussion / Re: PayPal Subsidiary Braintree On Verge of Accepting Bitcoin on: August 16, 2014, 05:35:53 AM
I think that braintree is actually a subsidiary of eBay but that is really besides the point. I think this is great news and would likely lead to increased actual consumer adoption and merchant acceptance of bitcoin.

Consumers would want to start using (and use more) bitcoin because they would have additional examples of why bitcoin is so efficient and good way to spend money. Merchants would have a greater incentive to accept bitcoin for payment in order to stay competitive.
428  Bitcoin / Bitcoin Discussion / Re: Bitcoin sites leaked :( - Big bitcoin members emails database on: August 16, 2014, 05:29:37 AM
As of now it seems that this is just scam in the case of bitcoin.de. This is not the first attempt of this kind. The person trying to make money out of this wasn't able to provide any proof that this data is indeed what he claims it is.

Best regards
Oliver

This is good to know, it would be good to hear from the other sites, though I suspect this is a hoax/scam.  As others have noted freebitco.in has a lot of users, but I'm not sure what the value of the passwords would be since they are tied to btc addresses not anything useful.
Well, you can change receiving address but then user would get email about that. Only way it could work is if rhat mail went to spam folder. Also problem is that users have same passwords for many sites, so somebody could hack much more things then just freebitco.in account.
The bitcoin stored on sites like freebitco.in are likely little to none and it would likely not even be worth it to attempt to steal funds from these accounts. There may be a very small number of accounts that have something "writing home about" but the overall take would be very little.
429  Bitcoin / Bitcoin Technical Support / Re: BTC transaction not confirming on: August 16, 2014, 05:25:25 AM
Hi,

I sent this transaction almost 3 hours ago from my armory wallet to an exchange..

https://blockchain.info/tx/828fe70828f66ddc43951f3e744c7cbfad0505ec5799d4bbe223d649ee1b06e7

Still not 1 confirmation.. wtf
It really depends on the nodes that are broadcasting the transactions. If the major pools are not connected to a node that is broadcasting your TX then it will likely not get confirmed. I am not 100% sure of the reason why your particular TX would not make it to these nodes.
430  Bitcoin / Bitcoin Discussion / Re: Retail adoption hurts bitcoin price it doesn't help it and here's why on: August 16, 2014, 05:22:42 AM
It depends. I'm one of the people behind BitKassa, the Dutch Bitcoin payment provider that is being used for most merchants in Arnhem (active since the Arnhem Bitcoincity event in May). Most merchants use BitKassa to accept Bitcoin payments and receive euros. However, these bitcoins are not being dumped on exchanges. So far we have sold exactly ZERO bitcoins of all the payments we processed.

So how does it work? Do you pay the merchants EUR from your own reserves? Is it sustainable?

Unless they can do things like pay interest on loans, buy can for their cars and food every night with bitcoin straight up, they'll have to sell bitcoin for fiat at some point. That's the problem right now.  Like their employees aren't taking thousands of bitcoins for salary I'll tell you that much.
I don't think this would be possible. This person would have massive exchange rate risks and would be vulnerable to loosing a lot of money. This would also very quickly get expensive for him because some business process tens of thousands of dollars in bitcoin sales per month.
431  Bitcoin / Bitcoin Technical Support / Re: High Priority Transaction with Recommended Fee Unconfirmed *17* Blocks on: August 16, 2014, 05:16:24 AM
I know the reason, because size transaction is bigger than usual.
The Output is very much.
So the confirmation is very slow, i think you need to increase the free to make confirmation faster.

I think next time you should set bigger transcation fee  Grin

Is 797 bytes really considered too large for a standard fee? If miners aren't processing that they are just being stingy to the detriment of the network.
No. It does look like your TX is 2x as large as 797 bites though, so technically the fee should have been .0002.

With that being said, generally even a fee 1/2 the recommend would generally get confirmed quickly by the miners.
432  Economy / Speculation / Re: reason of price drop : Chinese exchanges dont have proof of 100% reserve on: August 16, 2014, 05:06:04 AM
Simply contact them and ask for the cold storage wallet address to check it yourself. why would they deny you that address? Then get suspicious
There are legitimate reasons to not give out their cold storage addresses, one of which being that if you can figure out how much total BTC they have on deposit, then if you know how much they have in cold storage then you know how much they have in their hot wallet, potentially making them a target for an attack.

The fact that chinese exchanges do not charge trading fees certainly makes it look like they are somehow bilking BTC from their customers as it makes little sense as to how they are making their money.
433  Economy / Speculation / Re: $1.6 million property purchased through bitpay on: August 15, 2014, 06:57:08 AM
if they pay out 10M USD to a customer, but drop the entire Bitcoin amount valued at 10M in one big dump, they'll never receive the full USD amount, through slippage and market panic. They'd incur a huge loss for themselves.
Hmm, does anyone know if they calculate the conversion rate a customer (buyer) gets based on current market rate or on average sales price they would get?
In other words, if a customer buys an item worth $100 its at current market rates (say $550), but if its something really expensive (e.g. >$1M) you only get the average conversion rate they could get by dumping immediatly (e.g. $540 or whatever)?

Hmm, actually i somehow dont expect anyone here to know for sure ...

Customer pays according to current market price, but at a rate fixed for the day, minus 1% fee. From their webpage:

Quote
Let's look at an example. Suppose you create a payment button with a USD price of $10, and sell ten orders during the day. If you have Instant Exchange enabled, your payout at the end of the day will be for $100 USD, regardless of how the price of bitcoin changed during the day. After deducting our 1% fee (plus $0.15 for the bank transfer) you will receive $98.85 to your bank account.

To my understanding that means it is up to Coinbase to make a profit (or, if they fail, a loss) with the actual conversion on the market(s).

Burt this would mean they lose a ton on a $1.6M order. It's a bit difficult to believe this would be their business model. Why take risk when that's not needed?
I am pretty sure that the price given to customers when they checkout on conibase or bitpay is based on the exchange rate at the time. I would assume that the fiat price the merchant price is somewhat similar to what the customer gets. To do anything else would make little sense and would subject coinbase and bitpay to extreme levels of market risk and potential manipulation by merchants.
434  Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well on: August 15, 2014, 06:54:45 AM
I think we won't see much downside from here. The swap rates have returned to sane levels, around .06-.08% per day, about half of the peak rates. This is still a lot per year but its not nearly as much as before. With lower interest, there is less selling pressure from long positions. Also I feel like some people loaning money will take this opportunity to buy cheap capitulation priced coins, as they won't be able to make as much from loaning the money out anymore. Overall I am very satisfied with this development; I think it was very healthy for the price of bitcoin and removed some weak hands and unskilled speculators.

Maybe... before the crash, yesterday, though, the spreads weren't all that crazy either... just the amount of leverage. The leverage has stayed pretty flat which is good, but I think there is a lot more room to burn.
I think we will likely fall farther from here. I agree that at least part of the decline is due to margin calls and margin related selling. I would argue that once margin gets to much lower levels we will likely bottom out and potentially see price gains from the levels seen at that point.
435  Economy / Speculation / Re: Everyone is panic selling their BTC on: August 15, 2014, 06:52:04 AM
If a currency can fall 8.5% in a day on no real bad news such as today just proves the cronies and knockers correct when they say its too risky and volatile. Imagine if there was actually some bad news, sheesh.

You are assuming that people in general are pushing this down, your wrong. It was a flash crash on bitfinex.com caused by deliberate manipulation, absolutely nothing to do with public sentiment or news.

Manipulation? It's disheartening to learn someone can hack into the exchanges and sell all the bitcoins, thats what I call bad sentiment!

thats not what market manipulation is...someone with a lot of coins sold them to trick the bots, no one hacked an exchange and sold other peoples coins..
Believe it or not this kind of manipulation has happened in the past. Several years ago Gox was hacked and caused the price to temporarily decrease to one penny per BTC. The hackers bought at this level then withdrew their coins. Most of the trades were reversed and Gox "covered" the losses (they may have not actually been able to do this in retrospect) but this is something that is possible. I would personally doubt that this is something that happened as the decline has been much too orderly to likely be something like this.
436  Economy / Speculation / Re: Should i cash out or not? on: August 15, 2014, 06:48:51 AM
This sounds a lot like trolling to me. Especially considering the fact that your account has few posts and is very new (and your forum name). All you have said is nothing more then speculation that is not backed by any amount of evidence, solid or not.
437  Economy / Speculation / Re: falllling is warning you once again: bitcoin game over! crashing to $400 on: August 15, 2014, 06:47:05 AM
Purchased 9.75 coins this morning so far.    Might take a max leverage long...  Undecided.
Probably not a good idea considering how volatile the market is right now. You would be risking that you receive a margin call and lose your entire investment. I would think that the drop is somewhat caused by de-leveraging and that the price may have somewhat further to fall before it reaches bottom, however will eventually recover and will eventually reach new highs.
438  Economy / Speculation / Re: If you can't take a $40-$50 price hit without panic selling... on: August 15, 2014, 06:44:06 AM
Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread
I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.
439  Economy / Speculation / Re: Just bought 6 more BTC @ $502.. on: August 15, 2014, 06:39:53 AM

It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.

There are no "resistance" or "support" lines.

Only morons on message boards citing arbitrary numbers as such.
Markets do somewhat have resistance and support levels however trade in bitcoin is generally too new to truly have these kinds of levels and the numbers that are quoted on these forums are generally pulled out of thin air and do not have any real data behind them.
440  Economy / Speculation / Re: "I wish I had bought more Bitcoin when it was cheaper..." on: August 15, 2014, 06:37:50 AM
Ebay news... that is something that should turn the price, soon.

Not eBay directly. BrainTree, right?
This is how eBay will accept bitcoin. BrainTree is how people use paypal to pay for things on ebay. The difference is merely that of corporate subsidiaries as they are one and the same.
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