Orders will be partially accomplished, with and algorithm, trading bots will adjust to sell in a way for maxing gains. I fake the market to stay at the price of others markets, meanwhile i try to sell at the price without lowering too much my coins (i need to sell without being the big whale). Not all buy orders will be executed, Bank deposits to get out last days, someone will notice something, all will dont care, until they are late and wasted, it will be weeks.
...
So now you don't want to sell your coins at 'funny' prices (above market rate), but just dump them without driving the prices down? You lost me here... Not all buy orders will be executed You mean sell orders? Bank deposits to get out last days You mean withdrawals? What you'll be concern with is BTC deposits, these take 1 hour tops. If the price is higher than anywhere else, you'd have a shitload of BTC flying your way (not USD). So it's real sell orders vs your fake buy orders, and since all of them would aim to sell instantly, you'd either have to buy them all with your own USD, or quickly drive the price below the market rate to discourage from selling. In either way you're fucked.
you do realise right now that no one knows how much real bank notes sit in btc-e, bitstamp and bitfinex bank accounts right?
you do realise that just moving 200 coins on btc-e causes peoples naive belief that the market cap of $5billion shoots up to $6 billion.. right... simply because someone ate 200 coins of sell orders (causing a $75 price wall difference($357-$450) due to most sell orders only being 0.011btc).
you do realise that last year mtgox when they had active trading, was doing in excess of 150k coin volume. and btc-e was close behind... but this year btc-e is well under 20k. bitstamp doesnt really exceed 25k. and in both cases most of that volume is internal movements of the MySQL database. not deposits and withdrawals of actual fiat.
so as the OP asks, ignoring the exchanges naive valuation of the market cap because no one can, with any sanity, truly value 13million coins on the bases of less than 200 coins moving around per hour. especially if they cant put a proper dollar value against the cap as a proper measure.
im not saying that its a flaw.. just a naive human acceptance.
i think when things like winklevoss ETF open, where they have to be transparent about the fiat reserves and bitcoin holdings. then a more accurate and healthy valuation can be found.
but right now the only transparent and direct 100% real fiat-bitcoin trade is localbitcoins.
The exchanges are shitty indicator of value, I 100% agree with that. But sadly that's the only indicator that can be used by merchants accepting bitcoins. And they need the price indicator. Sure I can laugh at the low price, I can value BTC that I hold at say $1000 and commit not to sell below that, but the very moment I decide to buy something with bitcoins, this 'exchanges naive valuation' becomes real. Haven't used localbitcoins yet, but don't think anyone would be willing to buy BTC from me significantly above the rate on exchanges. Correct me if I'm wrong. |
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Well he sent me an invoice, and it he put that it was for BTC in the description. Also the invoice was for goods and not a gift to friends or family.
Sounds like he's taking all the risk. If he doesn't send BTC, you should be able to claim the money back from paypal. |
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Im sitted on loads of coins. I create or buy an exchange to sell them without lowering the price. With this conditions:
Fake buy orders to balance up my sell orders.
In my exchange, certain buy orders are flagged as fake so i can profit from newcomers without impacting on transactions. Dollars, bitcoins, is my volume i move it wherever i want (im a market maker, i dont pay fees or nothing for moving), meanwhile others are buying my coins high and im getting dollars. After all in all exchanges transactions are anonymous, who knows which is wich, and who is who.
The transactions could all be displayed to all, who knows what is happening internally, in terms of banking audits.
You serious? You opened an exchange and faked the price up, say 700 USD, while everywhere it's say 380 USD. You don't get any buy orders, but you get shitload of sell orders. What happens when I (and hundred of others) move my BTC and try to sell? Orders won't get executed? You think no one will notice? You wouldn't last an hour. |
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Im surprised it comes from country almost cut off from financial markets. I guess Russia needs a lection first how these countries who control financial markets worldwide can cut them off from worldwide money transfers to understand why decentralized cryptocurrency is the way to go.
There must be a reason for such action from Russia, I remember they were rather positive at the beginning. I suspect, they either fear that bitcoin is somehow a CIA project (they don't know who controls the hashing power etc), so decided to ban it as a safety precaution. Or they've run some analysis and figured that allowing BTC may cause outflow of money from Russia, which would further damage their economy. But maybe there's something else. On the funny side, the Russian propaganda tube, RT, are very positive towards BTC and cryptos (lately defended the dark wallet concept on 'Kaiser Report'). |
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I have seen these lately myself... what is up with that? Also, who is this "Unknown" miner with so many damn blocks and hashes 45% of BTC!? http://bitcoinchain.com/poolsSomething isn't right.. Lol, what BS chart is this? It shows ghash as minor pool (below 5%?), don't think it has been updated in a long while. Here's the most reliable one (I think): https://blockchain.info/pools |
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The us gov, is the second btc shareholder. Tim draper, etc.
What would prevent him, to create, or reuse a virtual exchange, fake the rates (like mtgox), and sell all the coins at funny prices?
...
Mt gox didn't fake the rates, from what I know, they blocked BTC withdrawals, so the price fell down within their exchange. Simply people started to panic and sell at any rate. Then, allegedly, Karpeless was buying cheap bitcoins on his own exchange and selling them at normal rates elsewhere. How would anyone fake the rates? They would have to create exchange closed to the public and buy from themselves (otherwise they'd lose a lot of money buying overpriced bitcoins from others). But absolutely no one would give a shit about such rates, since no 'outsider' would be able to trade there. |
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I'm sure the rule wasn't there few days ago. When I signed up, I read the terms carefully and the only rule was to have FJ sig in first line.
Looks like the rule was added in recent times, since the OP seems to be edited.
I'm pretty sure it was always there. Check the post #47: @FortuneJack
I asked you in pm, but others will probably want to know too - are we allowed to put referral links in the signatures?
No, as it is mentioned in the OP "no other advertisements allowed" including our referral system  but you are more than welcome to participate in our referral program and earn 5% net profit from the players you invite. You can do this by sending referral links to your friends or PM people in this forum, or any other way you find it possible. Feel free to ask us any questions you might have about our referral program or website. He was referring to this rule on 12th Sep. |
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Terms:
--snipp-
Additional Terms: Constructive posts, No negative trust, no other advertisements allowed,
Your FortuneJack ad must be on the first line of your signature.
From the OP , is a bit confusing no other advertisements allowed, It means no other adv. allow But Your FortuneJack ad must be on the first line of your signatureThat's mean you must allow to put our signature at the first line. Then you allow to promote other advertisements at second line CMIIW Don't really see what's confusing here. "No other advertisements allowed" - it's pretty clear. The first line thing doesn't allow for other ads. This rule is just to make sure that FJ ad is fully visible, otherwise you could leave the first few lines empty. |
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Am I missing something? Are we allowed to put multiple sigs?  |
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Hi Brian, Yes, ebay changed listing rules some time ago, they've created separate sub-category for cryptocurrency, but you can only list them as classified ads. There is a guy who had an ad for bitcoins significantly lower than market value and would sell them to me through paypal. Thought I could buy them and sell them on coinbase. However, I would like to know if there are no safeguards as a buyer in the classifed ad thing
That doesn't make sense, why would anyone sell below market value? Unless he only got small amount of BTC and it's not worth his time to sign up to coinbase/bitstamp etc. My guess is he's trying to scam you into sending him money as a 'gift payment', so if he doesn't send you BTC, you cannot start a dispute, the only way for you to get your money back afaik would be lying to paypal that your account has been hacked etc I'd steer clear of it. But if you decide to buy, do it in a small tranches. |
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I'll leave that here :
SCAM ALERT
DO NOT INVEST
DO NOT PLAY
DO NOT DEPOSIT
DO WITHDRAWif they let you... |
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http://www.coindesk.com/reddit-50-million-new-cryptocurrency/Reddit has announced a new $50m funding round that could lead to a unique way for the social network to give back to its community – its own cryptocurrency.
In a post on the company’s official blog, CEO Yishan Wong revealed Reddit had secured funding from a number of well-known venture capitalists and VC funds.
Notable names included Sam Altman, president of the Y Combinator startup incubator, Andreessen Horowitz partner Marc Andreessen, PayPal co-founder Peter Thiel, actor Jared Leto, hip-hop superstar Snoop Dogg and Wong himself.
Perhaps most notably for the digital currency community, however, was that all of these investors agreed to set aside 10% of the round’s proceeds to give back to the community.
Wong wrote that the move was a recognition of the central role the digital currency community has played in Reddit’s ongoing success, but provided few details on the company’s potential plans. Think it's a good news in terms of popularising the concept of cryprocurrency. I wonder what impact will it have on bitcoin (if any), I can see a possible short-term price drop (some will surely dump some BTC to get some of the new coin). Then again, BTC will get some media attention and good publicity (can't imagine any article about "reddit currency" without mentioning bitcoin). Thoughts? edit: link to the official blog: http://www.redditblog.com/2014/09/fundraising-for-reddit.html
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Stop calling DB a SCAM, or he's gonna lock the thread again |
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It's not even about them calling themselves a "State of...", the western media/politics officially named them a 'State'.
ISIS = Islamic State in Iraq and Syria
And the same media/politics call Bitcoin "the preferred currency of drug dealers". Does them saying so make it true? Honestly, if you get your information from sources like the western media, you're going to be so full of shit that informed people won't bother wasting their time on you, a hopeless case. Anyway - I'm sorry to derail from the topic, Hong Kong protests. You specifically asked Lethn where did he get the information from (ISIS being a state), so I kindly pointed out that this information is presented EVERYWHERE in the media, it's encoded in the fucking name: ISIS. |
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ISIS aren't a threat to democracy, they're a bunch of psychopaths bent on killing us all that managed to form a state.
They did not manage to form a state! Where do you get your information? They have formed a state dumbass, just because they aren't recognised by the other countries doesn't mean they haven't, much like how the Kurds are holding their own in Iraq and have their own territory I recognise that as a state even if Americans won't, ISIS even have their own financial centre and healthcare supposedly, of course, all of the money is plundered from the U.S lol but they're using the oil they captured and are selling it to other countries to fund themselves. Just because someone calls themselves "the State of _____", doesn't make them a state! I asked you: where do you get your information from? Because it sounds like you believe exactly what ISIS says. And I'm the dumbass? LOL It's not even about them calling themselves a "State of...", the western media/politics officially named them a 'State'. ISIS = Islamic State in Iraq and Syria |
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So honestly, what happens after the 5000 petition is reached?
Does this sent to Amazon as proof that 5000 people want Bitcoin added as a payment option? Not sure if 5000 signatures is enough to get the ball rolling on this. Probably would need 50,000 to get a reaction. I signed the petition by the way, just being a realist.
I also signed it, since it only takes a few seconds, but have the same concerns. I don't think any of the decision-making persons from Amazon will ever be aware of this one. Maybe we should make a proper petition, with some hype on bitcointalk + reddit reaching 100k should be rather easy. |
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Payments have been made for the third week. Please confirm.
3rd week ends September 6th 20:00 FJ time for all participants.
let me know if you have any questions.
I confirm both, my participation + payment received. Did you mean that 3rd week ends 6th October (not September)? |
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"reporters starting to recognize" ?? I think every major news portal in the world reported on bitcoin multiple times already, they 'started to recognise' 1-2 years ago.
Good to see a rather positive article tho (I assume it's positive, but didn't read it all, as I'd need to register...).
Thanks for sharing
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Not sure when the 3rd week starts for the first group, but just want to confirm that I'm in. I'll be away for a few days so just want to confirm in advance.
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