You can't speculatively (profitably) long bitcoins, you can only short. So it's probably some supernode trying their capabilities (American likely), but I will be impressed only after breaching $.11. If I can do $.119->$.09752 in 3 days, surely others can do even better! 

LMAO, the third time in my Bitcointalk history.

I spent 8 days before the summit in Haikko preparing for it. Then during the 24 hours after it started (opening ceremony was Thursday 14:00, Finland time is used if no otherwise mention), something went seriously wrong so many times that I felt the probability of it having been a coincidence had increased to well above zero.

When I ordered an investigation on the events, I did not have the opportunity of taking adequate care of my summit, my family, my sleeping, my water or my food. After about 40 hours of rather intense events, after which I was fully content to die, since there is nothing in this life that I can think of, I would seriously have missed (and believe me I can think of things that most of you can not), I had also exhausted my available energy. I did not feel I would have been able to keep my posture for any more time. So I ordered a general evacuation of the summit and went fully offline for the time between Sunday 13:00 and roughly now. Since I don't have too much stress now, I think I can work approximately 16-18 hours per day indefinitely, provided that I take about 1 day off every 5 days.

Now I try hard to minimize the risk to the well-being of anyone, and to raise the stakes in the game described as follows: if someone actually copied the private keys there (I had access to over 6000 bitcoins unencrypted, open in my computer browser windows during the time it was compromised), he will have to suffer the fact becoming public in its entirety + all the details, if he spends the bitcoins before I have the time to spend them myself. Due to extensive precautions involved, it will take me approximately a week of calendar time + several thousand dollars, to fully ensure that the bitcoins are safe, by sending them to uncompromised addresses. I plan to concentrate on that during this week.

This is a copy of the conference material, given to all delegates, hosts, guests, staff and families of the summit delegations, and supposedly given to all members of the hotel staff in Hotel Haikko Manor, owned by Vuoristo-yhtiöt Oy. It is partly censored for names of delegates, although dozens of physical copies featuring the names of the delegates were available during the summit. The names of virtual delegates have not been intentionally disclosed although some of them may have been compromised during the summit.

Bitcoin was trading at about $0.1175/mBTC when I posted my preliminary explanation of what happened in the summit.

Translated text from Finnish original added in blue in front of original text (thank you rebuilder):

Translator's notes in [brackets]. I've tried to keep the style to my best ability, to some degree at cost of legibility. Dates in DD.MM.YYYY format, or similar bigendian.

"Hi,

Thank you for the service during our Bitcoin-conference 9.-12.5. Unfortunately, Haikko manor did not entirely conduct the conference as agreed upon (Janne Sainio, e-mail "Confirmation Silverbank" 7.5. at 12:01, and discussions leading to the offer in question, especially the lunch meeting Pietilä-Blomberg-Keinänen-Sainio, for a time Mähönen 2.5. approx. 12-16 o'clock.)

Notable failings (list is exemplary [??] but not complete):

-Materials to be handed out in advance to hotel staff (Order of the day 9. May 2013), which had been promised to be delivered to the staff's attention before the beginning of the conference, had not been dealt out. We are under the impression the material was in accordance with what had been agreed upon with Sainio and that he had seen it before passing it on to the hotel. [The phrasings used here leaves me a bit unclear on whether the actual passing on of informational material is at issue here, or informing hotel staff that such material exists. I assume the former.] During hour 4-hour lunch (2.5) Sainio had time to gain the impression this was to be a so-called summit. [Lit. "top meeting".] Apparently it was for this reason that Mähönen had been asked to introduce himself. We requested, among other things, 24 hour guards at the log sauna, which indicated our view of the central importance of the sauna's security, although no promise was made to deliver guards.

-The staff of the hotel had entered the sauna space on at least 3 separate occasions in the first 24 hours alone, of a sauna reservation of 59 hours length in total, despite prior agreement to the contrary, it being clearly mentioned in the daily order [that the sauna is not to be entered at will, I presume] and repeated reminders of this. Some of the entries happened when we were not guarding the sauna since we had been asked to retire to our rooms by 24:00 at the latest, although the sauna was in our uninterrupted use from thursday 10:00 to saturday 23:00. Already on friday 10.5 between 00 and 12 o'clock personal items belonging to conference participants had gone missing from the sauna. Additionally the sauna had been cleaned, so that our ability to discover the full amount of lost/stolen property immediately as the conference was still ongoing was weakened.

The main host of the conference (Pietilä) ordered an internal preliminary investigation on the matter on fri. 10.5. at approx. 18 hours. He used as personnel mainly himself and acting host ["responsible/trustee host"] Roni Blomberg, a hotel employee by the name of "Butler Charlotta" and a representative of the maintenance company, "Mikke". By approximately 8 o'clock saturday morning, the preliminary investigation led to the understanding at least 1 bitcoin worth of property had been lost (repurchase value of identifiably lost items), but private keys possibly used to store bitcoins had been copied/destroyed to a greater extent. Among other things, Pietilä's Macbook Air computer was at the sauna for the entire night, thursday-friday 9.-10.5

Our estimate of the upper bound of damages is 100000 bitcoins (market value approx. 9,1 million euro, repurchase value with immediate market operation approx. 10,2 million euro). Damages are divided in two parts, copied and lost bitcoin private keys.

For copied private keys the situation can be sorted out by transferring all the bitcoins of all the participants to different addresses, at which point we weill see, whether they have in the meantime been unrightfully spent. Finding this out must happen a soon as possible (if private keys have been saved, no financial loss will be caused, unless they are unrightfully used before the legal owner transfers them to a new, safe address). Due to the extremely strict security requirements of handling private keys required to use large amounts of bitcoins, the operation is however labour-intensive and carrying it out must be done by each participant such, that most of the work can not be delegated. For example an inventory of bitcoins of Pietilä and the companies he owns/leads requires about 16 hors of work to complete. Pietilä's own consulting fees (list price http://hopea.fi/bitcoin-kurssihistoria/) in April have varied between 600-2400 euro. This is one of the most urgent tasks, which will override most other markings in Pietilä's calendar for the week 13.-19.5.

The sum of money lost due to loss of private keys can not be reliably found out, but we believe the participants will notice if the sum rises to the thousands of bitcoins. This will be found out in about a week (a week is also our ETA for finding out the sum total of stolen bitcoins).

With the preliminary investigation having lasted throuhgh the entire night of 1.-11.5, it's traces (among them approx. 50 trash bags removed from a trash compactors, which had, by Pietilä and Mikke, been emptied in the trash area and thoroughly searched in hopes of bitcoin private keys or their parts having been destroyed among the trash, instead of stolen) were no longer possible to keep hidden from hotel management. Mähönen was informed of the matter on saturday morning, and he had a meeting with Pietilä between 10:30-11:30. It is believed both parties recorded the conversation with mobile devices. The conclusion of the meeting was, that Pietilä would not receive the right of direction he had requested over Charlotta and Mikke, and would not be allowed to otherwise continue the preliminary investigation in any overt way. Mähönen however gave permission to carry the conference out to its conclusion by the agreed ending time of 16 hours on 12.5.

The continuous failings in security and the increasingly hostile attitude of the staff led to Pietilä ordering the conference evacuated on 12.5 at 10 o'clock, and the evacuation was concluded by approx. 12 o'clock. Haikko manor was informed of the situation at 13 o'clock, by when all delegates had reached a safe area.

-Pietilä had reserved, for payment of the hotel bill, time on sunday between approx 9:30-10, which the hotel had been informed of (Butler Charlotta approx. 8:30). Payment was unsuccesful, because the bill had been drafted against PM-codes [?? Translator's education insufficient here.] and contained obvious errors. For example the 2400 euro rent of the Romanov hall had been added to the bill, contrary to the confirmation of reservation sent by Sainio. When Pietilä pointed this out to the receptionist called Anna-Lisa, she responded, that the addition was Mähönen's. Pietilä requested to be allowed to inspect the bill and pay the undisputed part. This was denied.

****

We want, from Vuoristo-yhtiöt OY, a bill fit for bookkeeping, itemized by the agreed PM-codes, with copies of receipts for room service and such services procured attached, so we can inspect the bill and pay the undisputed part.

We want, from Vuoristo-yhtiöt OY, the personal items left in rooms 26 and 30 during the evacuation, which we can pick up while we pay the undisputed part.

We hope Vuoristo-yhtiöt OY will appoint a contact with decision-making powers, who can discuss with Pietilä. If the company's attitude remains the same as during phone discussions had on monday 13.5 (e.g. Pietilä-Mähönen), our contact person will be an attorney's office.

Risto Pietilä can be reached at the number 050-3235950. He keeps a public diary in English at the address:
https://bitcointalk.org/index.php?topic=174620
and a copy of this e-mail has been sent there as clarification of events, which have caused concern in the Bitcoin community.

Risto Pietilä.



Hei,

Kiitos palvelusta Bitcoin-konferenssimme 9.-12.5. aikana. Valitettavasti konferenssia ei Haikon kartanon puolelta kaikilta osin toimitettu sovitun (Janne Sainio, email "Vahvistus Silverbank" 7.5. klo 12:01, sekä ko. tarjoukseen johtaneet keskustelut eritoten lounaspalaveri Pietilä-Blomberg-Keinänen-Sainio, osan aikaa Mähönen 2.5. n. klo 12-16) mukaisesti.

Merkittäviä puutteita (lista on esimerkinomainen mutta ei täydellinen):

- Hotellin henkilökunnalle etukäteen jaettua materiaalia (Order of the Day 9. May 2013), joka oli luvattu ennen konferenssin alkua saattaa henkilökunnalle tiedoksi, ei ollut jaettu. Olemme käsityksessä, että materiaali oli Sainion kanssa sovitun mukainen ja että hän on nähnyt sen ennen sen antamista tiedoksi hotellille. Sainio ehti 4 tunnin mittaisen lounaan (2.5.) aikana saada käsityksen, että kyseessä on nk. huippukokous. ilmeisesti Mähönen oli sen vuoksi pyydetty esittäytymään. Pyysimme mm. 24h vartiota hirsisaunalle, mikä viittasi käsitykseemme saunan turvallisuuden keskeisyydestä, vaikka vartiota ei luvattukaan toimittaa.

- Hotellin henkilökunta oli käynyt saunatilassa vähintään 3 erillistä kertaa pelkästään ensimmäisen 24 tunnin aikana yhteensä 59 tunnin mittaisesta saunavarauksesta, huolimatta siitä, että asiasta oli etukäteen toisin sovittu, siitä mainittiin selväsanaisesti päiväkäskyssä ja siitä huomautettiin toistuvasti. Osa käynneistä tapahtui silloin, kun me emme vartioineet saunaa koska meitä oli pyydetty siirtymään huoneisiimme viimeistään kello 24:00, vaikka sauna oli keskeytyksettä käytössämme to 10:00-la 23:00. Jo perjantain 10.5. 00-12 välisenä aikana saunasta oli kadonnut konferenssin osallistujille kuuluvia henkilökohtaisia tavaroita. Lisäksi sauna oli siivottu, siten, että mahdollisuutemme selvittää kadonneen/varastetun omaisuuden kokonaismäärä välittömästi konferenssin yhä kestäessä heikkenivät.

Konferenssin pääisäntä (Pietilä) määräsi asiasta sisäisen esitutkinnan pe 10.5. noin kello 18. Hän käytti henkilöstönä pääosin itseään sekä vastuuisäntä Roni Blombergia, hotellin työntekijää nimeltä "Butler Charlotta" sekä huoltoyhtiön edustajaa "Mikke". Esitutkinta johti lauantaiaamuun noin klo 8 mennessä siihen käsitykseen, että omaisuutta oli kadonnut vähintään 1 bitcoinin arvosta (tunnistettavasti kadonneiden esineiden jälleenhankinta-arvo), mutta mahdollisesti bitcoinien käyttöön vaadittavia yksityisavaimia on joutunut tallennetuksi/hävitetyksi enemmänkin. Mm. Pietilän Macbook Air -merkkinen tietokone oli saunalla koko yön to-pe 9.-10.5.

Arviomme vahingon maksimimäärästä on 100000 bitcoinia (markkina-arvo n. 9,1 miljoonaa euroa, jälleenhankinta-arvo välittömällä markkinaoperaatiolla noin 10,2 miljoonaa euroa). Vahinko jakautuu kahteen osaan, tallennettuihin ja kadotettuihin bitcoinien yksityisavaimiin.

Tallennettujen yksityisavaimien osalta voimme selvittää tilanteen siirtämällä kaikki kaikkien osallistujien bitcoinit eri osoitteisiin, jolloin käy ilmi, onko niitä sillä välin oikeudettomasti käytetty. Tämän selville saaminen tulee tapahtua mahdollisimman pian (mikäli yksityisavaimia on tallennettu, asiasta ei aiheudu rahallista tappiota, ellei niitä oikeudettomasti käytetä ennen kuin laillinen omistaja siirtää ne uuteen, turvalliseen osoitteeseen). Suurten bitcoin-määrien käyttöön vaadittavien yksityisavaimien säilytyksessä noudatettavien äärimmäisen tiukkojen turvallisuusvaatimusten johdosta operaatio on kuitenkin työläs ja sen suorittaminen on kunkin osallistujan tehtävä siten, että suurinta osaa työstä ei ole mahdollista delegoida. Esimerkiksi Pietilän ja hänen omistamiensa/johtamiensa yhtiöiden bitcoinien inventaari vaatii noin 16 tunnin työn. Pietilän oma konsultointilaskutus (listahinta http://hopea.fi/bitcoin-kurssihistoria/) huhtikuussa on vaihdellut 600-2400 euron välillä. Tämä on yksi kiireellisimpiä tehtäviä, joka tulee ohittamaan useimmat muut Pietilän kalenterissa viikolla 13.-19.5. olleet merkinnät.

Kadotettujen yksityisavaimien johdosta hävityn rahan kokonaismäärää ei ole mahdollista luotettavasti selvittää, mutta uskomme osallistujien huomaavan, mikäli summa nousee useisiin tuhansiin bitcoineihin. Tämä saadaan selville noin viikossa (viikko on arviomme myös varastettujen bitcoinien kokonaismäärän selville saamiseksi).

Kun esitutkinta oli kestänyt koko yön 10.-11.5., sen jäljet (mm. roskapuristimesta irrotetut n. 50 jätesäkkiä, jotka oli Pietilän ja Miken toimesta tyhjennetty roska-aitaukseen ja tongittu läpi perinpohjaisesti siinä toivossa, että bitcoinien yksityisavaimia tai niiden osia olisi hävitetty roskien joukossa, eikä varastettu) eivät enää olleet peitettävissä hotellin johdolta. Asia tehtiin lauantaiaamuna tiettäväksi Mähöselle, joka tapasi Pietilän palaverissa n. 10:30-11:30 välisenä aikana. Tiettävästi molemmat osapuolet lisäksi nauhoittivat keskustelun mobiililaitteella. Palaverin lopputuloksena oli, että Pietilä ei saa pyytämäänsä direktio-oikeutta Charlottaan ja Mikkeen, eikä saa jatkaa esitutkintaa muutenkaan näkyvällä tavalla. Mähönen kuitenkin antoi luvan saattaa konferenssin loppuun sovittuun päättymisaikaan 12.5. klo 16 mennessä.

Jatkuvat puutteet turvallisuudessa sekä henkilökunnan yhä vihamielisemmäksi käyvä suhtautuminen johtivat siihen, että Pietilä määräsi konferenssin evakuoitavaksi 12.5. kello 10, ja evakuointi saatettiin päätökseen noin kello 12 mennessä. Haikon kartanolle ilmoitettiin tilanteesta noin kello 13, jolloin kaikki delegaatit olivat päässeet turvalliselle alueelle.

- Pietilä oli varannut hotellilaskun maksamista varten aikaa sunnuntaina noin kello 9:30-10 välisen ajan, mikä oli annettu tiedoksi hotellille (Butler Charlotta n. 8:30). Maksaminen ei onnistunut, koska lasku oli laadittu vastoin sovittuja PM-koodeja ja sisälsi ilmeisiä virheitä. Esimerkiksi Romanov-salin tilavuokra 2400 euroa oli lisätty laskuun vastoin Sainion lähettämää varausvahvistusta. Kun Pietilä huomautti asiasta Anna-Lisa nimiselle vastaanottovirkailijalle, tämä vastasi, että lisäys oli Mähösen. Pietilä pyysi voida tarkastaa laskun ja maksaa riidattoman osuuden. Tämä evättiin.

****

Haluamme Vuoristo-yhtiöt Oy:ltä kirjanpitokelpoisen laskun, joka on eritelty sovittujen PM-koodien mukaisesti, liitteenä kopiot huonepalvelusta tms. hankittujen palveluiden kuiteista, jotta voimme tarkastaa laskun ja maksaa riidattoman osuuden.

Haluamme Vuoristo-yhtiöt Oy:ltä huoneisiin 26 ja 30 evakuoinnin yhteydessä jääneet henkilökohtaiset tavarat, jotka voimme hakea samalla kun maksamme riidattoman osuuden.

Toivomme, että Vuoristo-yhtiöt Oy nimittää asian hoitoa varten päätösvaltaisen yhteyshenkilön, joka voi keskustella Pietilän kanssa. Jos yhtiön suhtautuminen jatkuu maanantaina 13.5. käytyjen puhelinkeskustelujen (mm. Pietilä-Mähönen) kaltaisella tavalla, yhteyshenkilönämme toimii asianajotoimisto.

Risto Pietilän tavoittaa numerosta 050-3235950. Hän pitää julkista päiväkirjaa englanniksi osoitteessa:
https://bitcointalk.org/index.php?topic=174620
ja tämän sähköpostiviestin kopio on lähetetty sinne selvityksenä tapahtumista, jotka ovat herättäneet huolta Bitcoin-yhteisössä.

Risto Pietilä

It took me more than a year of constant (weekly) highly intelligent exposure to bitcoin, before I bought any. It took an additional year and more, before I allocated a significant % of my holdings to it. I even knew of Bitcoin before Mt.Gox opened, and that was purely theoretical and did not interest me.

So expect a large percent of the ones who heard in early 2013, to buy in with significant money in 2015-2016. Unless they are slower to understand than I was, in which case it takes even longer.

Take a look of Silvervault. You can buy silver that is stored securely in a bank vault (controlled by me) in Estonia. Estonia features no VAT on silver, and it is a stable parliamentary republic (in Estonian: "Eesti Vabariik" = the Free Country of the Estonians).

There is no spread in the silver that you buy. No minimums and no maximums. You can take delivery of it or sell it. Very low fees on buying, selling and storage. If you are not a national or resident of the U.S., Canada or Japan, and have no bank account and no business there, you are eligible to join the free world and be a customer of Silvervault!

I mean for diversification, this is a good way to corner a chunk of the world's physical investment silver with no sweat

We sent a memo to all summit delegates about how to tip the staff of the hotel with bitcoin-denominated redeemable short-term bearer certificates.

The virtual delegates who want to participate, please skype chat to me at "ristopietila" and we organize the practicalities. Today is the main workgroups day and it is 8:30am here.

I think it is more about the attitude than age. Both here in Haikko Manor and in American Airlines, some of the female staff are over 60 years old, and service is like in heaven. They know what they do, and do not get pissed off no matter how busy you are. I think the balance needs to be there, I would personally not be happy if everyone was younger than me - if nothing else, that reminds me of my mortality.

Is there anyone willing to receive the sourcedata of these 450 trades by email, so that he can analyze them and publish the results.

I was the main contributor behind the crash from 119->108 in May 5, and one of the two wallmakers that drove the price from 111->97.52 in May 7. I net bought 176,000mBTC with no additional cash by this successful swing trade.

Some track record from my recent trades:

TIME/15MIN   BTC CHANGE   USD CHANGE   AVG PRICE
         
1   -707   81 982   115,94
2   -100   11 211   112,11
3   -82   9 058   110,78
4   -250   27 871   111,48
5   -743   80 634   108,51
6   -7   727   109,20
213   -15   1 585   109,00
214   -229   24 776   108,21
215   0   0   
216   100   -10 414   104,14
217   0   0   
218   315   -32 616   103,41
219   114   -11 817   104,00
220   109   -11 147   102,68
221   0   0   
222   -28   2 922   104,36
223   29   -2 972   102,57
224   150   -15 247   101,65
225   489   -48 318   98,81
226   0   0   
227   115   -11 676   101,57
228   22   -2 255   102,30
229   688   -70 213   102,07
230   206   -21 163   102,87
         
   176   2 927   

I am willing to send the raw data to somebody (.xlsx) by email/skype if he promises to publish it (sorry I don't know how to share files efficiently   ). It is 450 transactions and I have already done some preliminary analysis such as grouping the trades in 15 minute brackets as shown above.

6 hours of trading for a gain of 176,000mBTC. If we add the 2 hours of moving the btc for the scare-walls in and out of Gox, 2 hours of premeditation, and 2 hours of backend, it is 12 hours of work.

In my understanding I just made 14,667mBTC per hour. So I don't see realistically, why I would be obliged to surrender my time for any less than 10,000mBTC as a consultant. Many people in my level don't just sell their time.

I think the 2927 dollars I "made" was at least partly fees, and perhaps I left some money uninvested in some account. This is parsed from multiple accounts that I control in Mt.Gox in the name of Eesti Investeerimishobe OU. (Remember always to pay your taxes, I pay them legally to Estonia at a flat rate of 0% VAT and 0% corporate tax.)


Calling me is voluntary! If you are sure that you cannot recoup the price of my advice, don't call  
My number is +358503235950 for consulting calls only. Book your time via SMS and have the bitcoins ready.


Yeah, just remember to notify me when the silver arrives I redeemed it on its way to the recipient because the delivery took "too long" (as if it was not public knowledge that the postal system treats PM shipments badly).


I don't despise anyone, but for the reasons outlined above, I am not very keen on doing small business anymore. The micro-silver-deals that I made in March, were just to gain some postcount really. I think I made a loss on them, but I write it off as marketing expense. In reality I do, and want to do, deals that net me in excess of 10-20,000mBTC per hour invested. With such wages, I don't need to work much to be able to maintain my lifestyle. I urge the others also to be content with what they have, and if not, buy some bitcoins while they still are cheap.

Happy trading! <3

It is called a "cup-and-handle". It is a very bullish formation.

I will be able to post a summary of my trades in Gox in 5.-7. May to this thread if it is deemed to be orderly, and there is at least some public demand. I am quite satisfied with the outcome, and would like the others to learn the secrets as well. Please don't contact me personally if you are not willing and/or able to pay my consulting fee of 10,000mBTC/hour, prepaid in the increments of 15 minutes.

Oh, forgot to add:
- I will always quote in minicoins (mBTC) from now on
- I don't think we see $0.1 ever again
- I can still write puts for $0.1, PM me
- If you want to know, how much I made and how, it will be a workshop case study in my conference

Thank you for all the coins. Rpietila has bought 2,500,000mBTC, left the trading desk, and will join the guests in his conference.

Sorry I have work about 2-3 hours. Get back to you..

Okei jätkät, nyt mennään 

Don't say you get that and then prove that you don't. 

Only about 1.5M coins are in fiat-denominated hands like yours. Almost 10 million coins are in coin-denominated hands like mine. I do care if I earn 10,000BTC with skilful trading before it shoots up, but I don't care a shit whether USDBTC will go to $5M or $1M, because both will be unsustainable long term.

Make that: "For the average Joe, Bitcoin is not yet a train about to leave the station."

- But it will be. If not this month, then the next. I called a 1-3 month consolidation in 100-120 area before a supermove up. We are right there even now, 4 weeks after the bubble burst. If I panic buy at 144 meanwhile, it is my own problem.

It has plenty of time to go to sub-$100 in May. Even as of this writing, there is $500k bid volume to 102, which is so pathetic that if I show a wall of 1k coins like I did yesterday, it will crash right here and now. It takes about 45 mins to send the coins.

Well, some people play percentage game and they rather have 10k coins than 5k. Cause the former means a place among the 80 wealthiest, and the latter is only a G160 ticket