I wasn't really thinking about wise people. I was talking more about day traders and speculators.  What do day traders care? Up, down, doesn't matter to them as long as its changing. I wouldn't expect them to care but I would expect them to react. Sure - price goes down, a handful of orders in their 'buying' ladder get filled. They take the BTC and enter a bunch of new sell orders in their selling ladder. Price goes up, a handful of orders in their selling ladder get filled. They take the proceeds, enter a bunch new orders in their buying ladder. ... What has that got to do with a net change in Bitcoin adoption? I don't know what it has to do with Bitcoin adoption. I thought we were talking about price shifts? |
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I wasn't really thinking about wise people. I was talking more about day traders and speculators. What do day traders care? Up, down, doesn't matter to them as long as its changing. I wouldn't expect them to care but I would expect them to react. |
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Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing.
Not claiming genius, but I can speculate. Perhaps Bitcoin has in the last year shed all those who don't understand its long term prospects, and we are left with a population of those wise enough to see that this event does not affect anything in the long term. I wasn't really thinking about wise people. I was talking more about day traders and speculators. |
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Really? Seriously? Someone voted "I love em"!
Explain yourself Satan worshiper.
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It's all about how Elliot waves (To his boyfriend?) and phases of the moon and when bitcoin passes by Mickey Ds for a quarter pounder, or was that crosses the MACD. Then when you can handle your teacup you get signals, or something like that.
You're getting too technical into the quantum theory of Bitcoin. lol tl;dr Because Bitcoinz |
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All of this is a moot point anyway. I don't see this ever getting past the SEC.
If the SEC allows Direxion's 3x leveraged ETFs (and they do), why on earth wouldn't they allow an ETF that follows bitcoin? One of their prospectuses says they invest in futures contracts; opens on securities, indices and futures contracts; equity caps, floors and collars; swap agreements; forward contracts; short positions; reverse repurchases agreements; ETFs and other financial instruments. Recognize those names? Some of them are the derivatives that caused the financial meltdown in 2008. Now you can meltdown too. Or you can invest in bitcoin. Because I'm not convinced that Wall Street and their puppet the SEC are particularly fond of Bitcoin. |
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Maybe it's a wise investor that's pissed at stamp and they're gonna HODL.
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It would not surprise me actually if it was being convicted of a crime that was causing his visa refusal. I have known people refused entry to US at age 50+ because of a charge for shoplifting at 18. When you're a US citizen, they have to come up with a lot more to refuse to let you back in, but if you're not, they don't need much.
Dude, I got in a taxi the other day that I'm pretty sure was being driven by Osama Bin Laden. They will let anyone into this country and then give them an SBA loan. There's something else going on here and I think it's Bitcoin. |
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Have you all seen this: http://www.coindesk.com/roger-ver-denied-us-visa-attend-miami-bitcoin-conference/Why would the government do this other than to mess with him? Is it because of his connection to Bitcoin or because he renounced his citizenship? If you renounce your citizenship you can't go to the U.S. anymore? I suggest we all mail a cup of fresh urine to the U.S. senate in protest with a label that says, "piss off". |
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Stop comparing it to MtGox. That just shows, that you guys have no idea, what you are talking about.
I am not 100% sure, but there is no evidence that would suggest, that customers will have to pay for that incident.
In business the customers always pay eventually. When I was operating my business and my electric rate went up or delivery costs went up my prices went up. That's the nature of business and why a McDonalds hamburger isn't still 15 cents. In your case, it was your future customers that ended up needing to pay higher prices. They were also notified of such changes ahead of time. In the case of stamp it will be their existing customers that will pay the piper Ok, so? Someone has to pay and in business it's always the customer. yes, the customers will pay the price for trusting the Bitstamp's platform. I am very curious to see if they will really open tomorrow IF not, a big fiasco will begin. It will be MtGox 2 or reloaded(as you prefer)  If they do open it will be to the worst bank run in the history of Bitcoin. |
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Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. I don't think that the ETF-specific risks will be large enough to matter. I mean, they have a large enough amount of bitcoins and it's relatively trivial to make a tracking ETF. Speculating in a volatile commodity/currency like Bitcoin is very risky per se - but if you are willing to stomach that risk, I don't think that speculating in a Bitcoin-tracking ETF would be significantly riskier. All of this is a moot point anyway. I don't see this ever getting past the SEC. |
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Stop comparing it to MtGox. That just shows, that you guys have no idea, what you are talking about.
I am not 100% sure, but there is no evidence that would suggest, that customers will have to pay for that incident.
In business the customers always pay eventually. When I was operating my business and my electric rate went up or delivery costs went up my prices went up. That's the nature of business and why a McDonalds hamburger isn't still 15 cents. In your case, it was your future customers that ended up needing to pay higher prices. They were also notified of such changes ahead of time. In the case of stamp it will be their existing customers that will pay the piper Ok, so? Someone has to pay and in business it's always the customer. |
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BitPay has done more than anyone else. Even the Microsoft news can be attributed to BitPay.
http://www.coinbuzz.com/2015/01/05/bitcoin-bowls-popular-success/More interestingly, BitPay payed for the sponsorship entirely in Bitcoin. ESPN immediately exchanged all of thew Bitcoin for US Dollars. BitPay, the top third-party payment provider, even sponsored a Bowl game, paying ESPN for the rights entirely in bitcoins, whereupon they immediately exchanged them bitcoins using a third-party payme... Wait a second! If this trend continues, next year we may witness the Fiesta/HashTrade Bowl and the LiquidHuluBits Bowl and the Netsolus/Nectarine Bowl, all on the same day to boot, preceded by the CoinWare Parade in front of the Miami Bitcoin Embassy bearing a block-long, two-story tall banner that reads: A noble spirit embiggens the smallest man. I don't even know what you're talking about Bruno? Can you be a little less cryptic and dumb it down for me? Do you mean: Because BitPay exchanges BTC for USD they aren't doing anything valuable for Bitcoin? Streamlining merchant acceptance of Bitcoin by performing a seamless exchange function is kind of what they do for a living. What third-party payment provider did ESPN use when BitPay, a third-party payment provider themselves, and the one that got ESPN to accept bitcoins in the first place, paid ESPN bitcoins for the rights, whereupon ESPN immediately had the bitcoins converted to fiat and deposited into their bank account? BitPay --> ESPN --> BitPay --> BitPay's Bank --> ESPN's Bank or BitPay --> ESPN --> CoinBase --> CoinBase's Bank --> ESPN's Bank The latter wouldn't make any sense, for it was BitPay that got ESPN to accept bitcoins, not BitPay's competition, CoinBase. The rest of the BS that I penned about CoinWare, et al., was to get you to think about the above. It doesn't make sense! BitPay could've easily just gave ESPN a check and that'll be that. But to state that they gave ESPN bitcoins whereupon the bitcoins were immediately sent back to BitPay so that a conventional fiat transfer can be made doesn't make sense on so many levels. Just like nobody, and I mean NOBODY can open up an account at BitPay to solely convert their personal BTC to fiat, whether it's a buck, ten dollars, a grand, or a million dollars. BitPay is a third-party payment provider. The key word being third. But, supposedly unknown to BitPay, that's exactly what service they provided to Sonny Vleisides' BFL when they converted over 10 MILLION DOLLARS worth of BTC to fiat under the guise of product purchases where there is NO way that BitPay wouldn't have known that that was exactly what BFL was doing even prior to this PR release: http://www.prweb.com/releases/2013/10/prweb11283333.htm picked up by Reuters here: http://www.reuters.com/article/2013/10/31/idUSnGNX4VPYg9+1dc+GNW20131031Again, BitPay is a third-party payment provider and not an exchange. Especially, not an exchange to convert tens of millions of dollars worth of bitcoins that were mined via ill-gotten means to fiat, of which is exactly what transpired when BFL did such virtually up to the day of the raid on their facility via the FTC. To be clear, BitPay was a major player in a multi-ten-million-dollar money laundering scheme conducted by Sonny Vleisides' BF Labs Inc. (Butterfly Labs) and I uncovered it back in late 2013 (not 14), but nary a periodical has touched this. The question is why? And why has BitPay not answered a single email to them concerning this issue? Bruno, you get yourself all flustered and confused then go off on a tirade. ESPN does not accept bitcoins for payment. ESPN does not have a merchant account at BitPay. None of the people involved in the Bitcoin Bowl accept Bitcoin for payment through BitPay. BitPay cannot exchange Bitcoin for them without them having an account because they would all go to jail. It was a publicity stunt that they graciously paid A HALF MILLION DOLLARS for. Part of the stunt was to pay ESPN for the event in Bitcoins. ESPN does not want Bitcoins, they want dollars. They had to go to some exchange to sell them because they have bills to pay for the event and they don't give a shit about Bitcoin. They chose Coinbase probably because they wanted assurance that they would immediately get cash for the coins. That transfer to Coinbase was probably brokered months before the event. How the fuck can you not get that! You know that every once in a while for the last 3-4 years I've told you when you were straying a little too far from the shallow end of the pool. This is one of those times. As a friend, please chill out dude. You're freaking out a little and making conspiracy connections that simply aren't there. |
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So your answer is that the price dropped because Bitstamp was hacked. Where have I heard that before?
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I think the thief will try to cash out some of the coin (small proportion) through Alt-coin exchange
That's why he/she split the coin.
would you not do the same? who will exchange 19K BTC at once? the hacker will sell parts. what is somehow funny is that other exchanger will fulfill the transaction. Stolen funds are processed without any question. This is money laundering which is possible through Bitcoin. When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention.I know it is possible , but some people still think they can trace that thief. They can to a point but I don't know why they would want to. They haven't been able to successfully do anything about a theft here by tracing coins except for the Ozcoin hack and MtCocks confiscation. Ozcoin was the only case where something was done right. You could argue that they shouldn't have done it. When MtGox confiscated stolen coins that's only because Gox was a bigger thief. Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing. Could it be because the market price is phoney and manipulated anyway? |
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Everybody is talking about the price crash of Bitcoin because of the Bitstamp hack, and I am just sitting here mastur ... ahm ... looking at the price going up again ...
No, it's actually going down. Your screen just isn't refreshing fast enough.  |
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Isn't this SuperNet?
It sure sounds like SuperNet without the anonymity function. |
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Omg what did I miss now :/
Not much. The price is dropping like a rock because some thief is selling all the Bitstamp coins. ROFL |
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Hey, have you guys heard the news? The price is tanking because of all those dumped Bitstamp coins. lol
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My opinion is that, if they get it through the system and get it listed it will be an enormous flop.
Care to explain why? Tooooooo risky. Did you read the prospectus? If I was risking client money, I think I would risk their money on Somali oil reserves before this ETF. Meh, no riskier than plenty of other options out there, that are already doing $millions in trades every day. Institutions will buy what their clients want. If they want a high risk/reward investment option, COIN is likely to be on that list. Fact is stranger than fiction, but I think this one is too risky (and small) for institutional investors. I'm going to have to see it to believe it. I'm not sure that it will even be approved. Not sure enough to bet? I'll bet you everything I have left from timeshare coin.  LOL I thought you'd like that one. |
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