rpietila will not like it.
rpietila is entertaining blasphemous thoughts in his little brain, about selling bitcoins to the strength and buying silver with the proceeds. The great double-up from last month is looking too wonderful, maybe I double my amount of silver instead... |
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Thank you for your business!  We are glad to serve you the cheapest rounds. The dollar formula is again updated, to accommodate the falling price of silver. Now you get about 4 Uncirculated 1oz Maple Leafs for 1 BTC. O tempora, o mores! |
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Iron77, before we finish with legal action against Central Bank of Cyprus, I cannot disclose which country we moved in, because it probably may be used against us in court.
Umm... against you? Wtf have you done? I thought they were stealing... |
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I made a study of bitcoin price increase, and my findings were:
- If you pick a random 12-week period in Bitcoin's history, the chances are better to make at least 10x return on investment, than to make any loss. (23% to 19% iirc.) Averaging across at all Mt Gox trading data since 2010-07-17, if you hold for 30 days and sell you have a 62.6% chance of selling higher than you bought at, and a 37.4% chance of selling lower than you bought. For a 60 day interval this becomes 73.0%/25.8% For a 90 day interval this becomes 77.3%/19.8% Thinking of this, it is so insane, that the Finnish bitcoin merchants in general would have done better by just holding. My webpage tells that I will have to charge 15% premium, for the reason that on average it gains 12% during the two days I need to replenish the stock from an exchange. |
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However I am able to partially validate the author's point in that I too act as if Bitcoin is an investment. In fact, I now regret using it as currency when I traded almost 100 for an Amazon gift code last year.
Hmm. If you had paid it with fiat, you would have that much less fiat to buy more bitcoins, so no problem. If you were all in with bitcoins, and wanted to buy anything, then you would need to part with bitcoins anyway, so no problem. If you thought bitcoin's value would be tied to fiat, and therefore it would not matter to balance the position, you have a problem. |
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There has not been a weekly negative since... ever(?)
If you use Mondays as the start of the week, 2012-12-17 was the last time. It was down 1.3% from the prior Monday. If you use a rolling 7 day window there were several days back in December and January in which the price closed slightly lower than it had seven days prior. I made a study of bitcoin price increase, and my findings were: - If you pick a random 12-week period in Bitcoin's history, the chances are better to make at least 10x return on investment, than to make any loss. (23% to 19% iirc.) I have not made mistakes with bitcoin, because I have not sold any (except as OTC dealer, which is profitable). Of course everybody could have bought more, but that does not count. I feel privileged by being able to buy more as price has gone up. |
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It was bearish that we could not exceed the yesterday's all time high. The market is overexcited, smells blood, and will get blood. Prepare for a vicious crash all the way to $110, $105 or even touch the magic number that was first breached from the downside barely 3 days ago(!) LOL, this is so fun to watch the pale faces of traders hitting SELL after a 20% decline, as the next week's incoming funds will again lift us to new highs, and $200 is definitely in the cards, if not before the 15th of the month, then after. You cannot battle against the tide of a century. Just ride it. Sell now and buy back at $110 if you are smart. If not, don't sell.  How'd this post from yesterday get here? The market is so retard it does the same thing over and over again. If today not ATH, the sky will fall and price crash. I will post this every day until we clear $150 and bull market resumes, yiiihaaa...!!!11 Hint: Monday. LOL |
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Runner up would be the panic buy at 138 the other day....then the crash. The hole where my heart should be is too young for this. Eating and sleeping have become difficult.
Don't worry. I have panic bought several times at all time highs, ever since when it was $20 (in February, this year). There has not been a weekly negative since... ever(?) |
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Christ. It would be less blatant if they just took all the money out in wheelbarrows.
Reminds me of 1933 and FDR asking from a senator, what he thinks of the dollar devaluation from $20/oz to $35/oz: "Why, that is just plain stealing, isn't it, mr. President?" |
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It was bearish that we could not exceed the yesterday's all time high. The market is overexcited, smells blood, and will get blood. Prepare for a vicious crash all the way to $110, $105 or even touch the magic number that was first breached from the downside barely 3 days ago(!) LOL, this is so fun to watch the pale faces of traders hitting SELL after a 20% decline, as the next week's incoming funds will again lift us to new highs, and $200 is definitely in the cards, if not before the 15th of the month, then after. You cannot battle against the tide of a century. Just ride it. Sell now and buy back at $110 if you are smart. If not, don't sell. |
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Yeah, I don't have much problem with Mt.Gox; I have an account there but not much bother with it since: - If I want to buy, it is so much faster to get money to BitStamp and therefore better price. - If I want to sell, the price is better in BitStamp (and even better in btc24 or otc), also all the others credit your funds faster Only masochist use Mt.Gox. Oh well, I don't yet trust many coins in the smaller exchanges but with Gox I've learned to trust them  |
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The world system is rather fantastic at times. This will certainly be studied with amusement in the universities of the future.
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I suspect, from the bottom of my sleeve, that there are maybe 100,000 addresses with any balance whatsoever, and of these, 10,000 hold a balance greater than BTC1. A few lucky guys maybe holding BTC100. So the amount of data is reasonable, and they are well positioned to return all bitcoins to their rightful owners, and everything is proceeding as planned. The 90 day account freeze is a must, because some owners may not access their wallet every week. Further, I believe they will have a claims department open ever after for anyone who wakes up late but remembers his URL. In my opinion, Instawallet team may recover their reasonable costs from the amount returned, if a claim is late for more than 1 year. The positive side is, your bitcoin wealth is frozen at the exact time you might be most tempted to sell it, and you should thank the "hacker" for this  |
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 In the future, you can carry 32 trillion in Bitcoins like this. Lost USB drive = lost 32 trillion USD Actually no. Not lost 32 trillion USD, but redistributed 32 trillion USD to all other Bitcoin holders. Yay. My stake is then worth millions |
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Thank you piramida, I have many of the same suspicions as you do. I tried for example contact Mircea Popescu via Facebook. There was 20 dozen people with that name so good luck finding the one that disappeared with your money! But in the OP, there are no accusations. It is just public knowledge, based on MPEx own data:- March they lost money because of high call/put ratio and no hedging - MP is the guarantor of last resort - They have already sold longs for the coming months, these contracts are deeply in the money (loss for them) - Based on the above, not many want to buy the bonds that will surely lose - MP cannot/won't cover all the losses this month - Toast  |
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Deposits below €100,000 will be shifted from Laiki to the Bank of Cyprus to create a “good bank.” Deposits larger than €100,000, which are not guaranteed under EU law, will be frozen and used to resolve debts. killerstorm, do you think this solution is fair? Is it OK when assets of successful people and businesses are seized to pay county's debt and cover "insured" accounts? They took 700K from my account, killing my business, to repay their debts and fulfill insurance liabilities! I can't believe it is happening in Europe! It's more likely North Korean scenario!BTW, A company owned by in-laws of Cypriot President Nicos Anastasiades wired €21 million from Laiki Bank to London days before the Eurogroup’s crisis-triggering levy proposal, claims a Cypriot newspaper. SOURCENo, this is not fair. This is rotten. I feel sorry for you  |
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The lag is annoying, and it is not normal. Take your business to other venues, boys! For most of us, the liquidity in Bitstamp is well enough.
Other points:
- incoming funds credited after 1-2 days, not 3-7 days
- lower fees
- I was verified the same day for 6-figure business, no hassles so far
- MtGox verification was 30 days, back last year
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Back when I was spreading hopes and dreams across the forums of a new legitimate publication I was designing specifically for Bitcoin (Bitcoin Magazine) I was insanely enthusiastic and overly zealous, saying something I believe to the tune of "Next month!" which turned into pre-orders and 6 months of defending against accusations of "theft" and "scam". I feel BFL's pain, as it must be pretty annoying being called scammers when trying to salvage things as best as they can. That said, I gave up them (not as a legitimate company, but just being reliable) a long time ago when I asked Sonny what the timeline would be for the Single I paid for and he said "maybe 6 months".
This is not crowdfunding. It's not kickstarter. If they fail to deliver a product people already paid for in full (repeatedly), they are scammers. If they finally deliver, they are not scammers. It's pretty simple.
I take this opportunity to pat you on the back, Matthew. It seems that you are doing good progress. I mean it sincerely! |
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MPEx claims to have a valuation of BTC700,000, which would make it the most valuable bitcoin business of early 2013. Their main business is to issue options on USD/BTC exchange rate. As they claim the position is in excess of BTC100,000, it is obviously impossible to hedge in other exchanges. The risk is instead borne by "bondholders", auctioned out monthly, who will either win a fixed percentage on their bond amount, or lose a prorated amount of MPEx trading loss. In March they lost over BTC27,000. I suspect the exchange has blown its risk management and will likely default in April/May if the USD/BTC rate keeps increasing as it has done.The idea that bondholders take the hit if the month turns negative, is a clever one. But if you personally guarantee the black swan of bitcoin's disproportionate rise in excess and/or absence of enough bondholders, you play a dangerous game. The owner has clearly grown desperate as he sees his end coming. The owner has something against me, and is likely to respond with hatestorm once again, skipping his chance to clarify my suspicions with actual facts, (which would be easy if everything is in order). Do your own due diligence. I hold absolutely no long or short positions in S.MPOE or anything listed there.
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Buying bitcoins from 'stamp....
...and making a new All Time High in the process.
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