Bitstamp is back to the niveau before the Gox news  A lot of pigs got slaughtered. I'm just wondering if the one who sold 8.5k BTC with a market order on BTC-E taking the price down to $102 is a mentally challenged trader who went full retard or just a poor guy who got his account hacked. He lost MILLIONS to the lucky bastards that had bids down to $100 on BTC-E. Somebody six-folded his money in a couple of seconds. Pretty sure this was a cascade of forced liquidations, not one actor. Well, 8.5k coins were sold in the same minute. That was either: a) one single trader going full retard b) one huge account got hacked c) multiple accounts were hacked and were liquidated simultaneously The fact remains that some bastards got HUNDREDS of coins at $102. I guess the risk of having fiat on BTC-E paid off big time. EDIT: THOUSANDS of coins in the $100-$200 range The seller/s lost MILLIONS to those who had the low bids. |
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Bitstamp is back to the niveau before the Gox news A lot of pigs got slaughtered. I'm just wondering if the one who sold 8.5k BTC with a market order on BTC-E taking the price down to $102 is a mentally challenged trader who went full retard or just a poor guy who got his account hacked. He lost MILLIONS to the lucky bastards that had bids down to $100 on BTC-E. Somebody six-folded his money in a couple of seconds. |
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This is just poor bookeeping on Mt.Gox side.
This is exactly what it is. Poor bookkeeping, nothing more, nothing less. Pretty clear to anybody with an average understanding of Bitcoin... But I have to say that I'm enjoying all this noobs with low activity screaming and crying about Bitcoin possibly going to 0... I bet that they are the ones who sold me all those $550 coins on Bitstamp, now hoping to grab some $450 coins. |
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This is a f cking bad news!!! That mean the core developers better hurry. I want to withdraw!!
Core devs must do NOTHING. MtGox need to address their mess internally. |
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Well, Gox statement was the perfect panic generator - noobs selling, the rest of us buying This problem with bitcoin protocol was well documented and the "flaw" is in the custom bitcoin implementation used by MtGox's wallet. Nothing new. |
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I'd love to know how many bitcoins were bought on BTC-E in the $102 to $200 range.
Lucy bastards...
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Bought like a mofo earlier today in the $530 to $600 range, if we go under $450 I will load the truck!!
Gotta love panickers and noobs.
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Good job OP by warning people about this malware.
Making malware for OSX has to be a very profitable niche: virtually no use of AV software among OSX users, and anyhow I don't think that such targeted malware would trigger any alarm.
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Go panickers go!!
Bitcoin is amazing. So many profit opportunities.
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My transfer just hit Bitstamp.
Time to buy, guys!
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Reading the above case screams entrapment to me.
"In criminal law, entrapment is when a law enforcement agent induces a person to commit an offense that the person would have otherwise been unlikely to commit"
- The undercover induced the seller to commit the offense by contacting him and baiting him with larger and larger amounts of money.
- The seller would have otherwise been unlikely to commit money laundering if he wasn't presented with a large amount of "dirty money" to launder
Which is illegal in Europe and most (if not all) first world countries. The USG seem to have different rules for entrapment. Didn't they do a similar thing with the SR case? Yes, entrapment its a usual practice among US police forces - its kinda crazy, LE is commiting crimes while inciting US citizens to commit more crimes in order to throw them to jail. "The land of the free" Sure. |
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Reading the above case screams entrapment to me.
"In criminal law, entrapment is when a law enforcement agent induces a person to commit an offense that the person would have otherwise been unlikely to commit"
- The undercover induced the seller to commit the offense by contacting him and baiting him with larger and larger amounts of money.
- The seller would have otherwise been unlikely to commit money laundering if he wasn't presented with a large amount of "dirty money" to launder
Which is illegal in Europe and most (if not all) first world countries. |
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"the system needs to be in static state" to fix the technical problems they are having... So why income transfers are still working? Aren't deposits on the same system as withdrawals?
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do not do my error, go away until you can, this is a gigantic bubble, in few years people will laugh at "that bitcoin bubble of 2013-2014" and books will write on it. There is no future.
Last year at this time, Bitcoins were worth $22 USD each. Today, after the fall, $750... ahh always when someone mention price from year ago I am getting into dreams that in 2015 it is going to be 30000$ Not gonna happen. The only way to get rich was to get early enough back in the day, we missed the train so we are headed into a life of missery and in general not being a millonaire. The only future millonaires off bitcoin now will be already rich people that can enter into the market hard enough at current prices. There isn't going to be a similar bubble again in our lifetimes. I wonder where all these "bitcoin could reach 1 million" people will hide when they realize that's nonsense. Btw, no one cares about Bitcoin as a cryptocurrency, only a minority do care. I hope it's a success, but i've never seen anyone in real life that knew what Bitcoin is. The only people that care when I explained it to them were other nerds. So yeah, we have 1% nerds which care about it as technology, and 99% speculators that dont know shit about technology. I've heard more "normal people" talk about Dogecoin than Bitcoin, which shows in the number of transactions Dogecoin already being the world's first. No "normal people" is interested in Dogecoin, only delusional retards who will end up badly burnt. |
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If it goes below $300 I sell everything and invest in a different coin.
Please send me a PM then: I will buy all your coins. |
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There is no future.
How is it possible that you see in the future, and yet you're losing money in the markets? bingo. the naysayers were whining the same thing when they bought @ 265 followed by the crash to 50. if you held though, you'd have made a fortune. same from 32 to 1.98. this time will be no different. Imagine how stupid has to be a person to invest a significant amount of money in BTC without realizing what you just wrote. They didn't even bother to study what happened in the past, which would prepare them to BTC 's extreme volatility. People like the OP are those buying high and selling low, and then crying in a couple of years while asking to themselves why they sold an asset that has grown by more than 1000% every years since it's creation, despite of negligible dips on the way up. I guess traders need this kind of people, from them they take their profits. |
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Yep.
The complaint against the guy who was arrested a couple weeks ago (not Shrem) said that an undercover informant attempted to buy some Bitcoin and said "I need these Bitcoin because I've got my eye on a sweet bag of cocaine on Silk Road" or some similarly ridiculously stupid thing.
The seller ignored the request and never sold him coins (but they still mention it in the complaint which is interesting)
The US is really a third world police state. In most of the civilized world it's just illegal for the police to incite to commit a crime. Plus, is all this a joke? So they arrested two guys because the cops told them "I will use this money to buy stolen goods"? An US judge will accept that BS? Really? Again, in a civilized country the judge would tell to those cops to gtfo and to stop harassing citizens. |
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i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.
Indeed. Can you tell us why? Is it because a court won't be willing to assign a fiat value to the BTC lost? Just because its even more uncertain. |
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i interpret gox below stamp as a sign that some traders expect a gox bankruptcy and in that case fiat is superior to btc.
Indeed. |
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Sturle, can you explain the logistics of such a trade? I would also be interested in buying up discounted mtgox CDSes (that's essentially what they are), if I could be confident that the trade could be accomplished securely. I don't think you can make Mtgox codes anymore? How are you going to transfer the Mtgox balance?
You can transfer BTC between MtGox accounts. The sender can withdraw to the deposit address of the receiving account. The transaction will be handled internally, and the transfer will not enter the blockchain. (Unless you check "Open Transaction". Don't do that.) Okay, my goxBTC is for sale then! Wise decision Ristö. The good old Sturle is either getting Goxxed or he is just a paid shill who is risking nothing. Given his post history in the last months (constant shilling on this thread since April despite the alarming insolvency sympthoms) I would say sturle is the latter (a shill), but given sturle's history/reputation as a reliable OTC later I have my doubts. I give 50/50 chances that he is a shill or just a guy who will get Goxxed because he doesn't want to admit that he may be wrong. What surprises me is that you are still on Gox, Risto. I always thought (and I still think) Karpeles is mostly honest, not a thief, but the sympthoms have been too strong for too long to ignore them - you know how they say, "it walks like a duck, it smells like a duck, it looks like a duck...." It might be for legal problems, or because fractional reserve, but the truth is it really doesn't matter, it's been since this summer that is clear that Gox is not safe nor reliable. I work with banks all day long in my business and the hard cold fact is that if you have the money, you can steadily transfer it unless something very BAD or very temporary happens. The "we are overwhelming the banking system with our huge volume" excuse is the most ridiculous thing I've ever heard (only for outgoing money but not for incoming, how convenient!), and it was just a matter of time for BTC withdrawals to start following the same path. Withdrawals do not work, incoming transfers work just fine. Sweet.... I left Gox for good in July after a couple of months defending them... But things just kept getting worst. Bitstamp doesn't feel as the most secure place in the world neither, while withdrawals work just well daytrading and keeping serious founds on third party services is still a high risk practice in the BTC world. I won't do it until a serious alternative is launched, for sure the opportunity is huge for those who manage to build a SERIOUS service. |
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