I think that someone or some group has been trying to manipulate the BTC price by spamming these worries on various social media over the last couple of weeks, which has created some natural pushback against the idea. But that doesn't make the idea false.
Bingo! the only thing I wish now is for all this Tether fiasco to end ASAP, even if a small correction is needed. People should start demanding financial audits to every single exchange they trade on, that should be the norm. |
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Why the fuck would anyone hack a token like Tether? |
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No worries, word on the streets is that Roger is gonna review in person Bitfinex' books soonish...
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Here an astrological reading for the coming days:- Bitfinex, Bittrex, and Bithumb are walking through the valley of the shadow of la mort.
- The wrath of the dragon of the east is about to begin, be ready.
- Bitcoin will soon, and once again, show to be the king of kings.
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Mr. Hearn, until recently one of the most prominent leaders of the Bitcoin project, became so disillusioned that in December he sold the few hundred Bitcoins he had left and quietly took a job at a new start-up. Finally some good news!  |
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Insiders learning of Bistamp's issues before the rest of us helps explain the crash.  |
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I feel like the price will stay stable for the next couple of month... "boring" phase here we are!
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It's going to fast... not good, not good....
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i voted yes bitcoin is done just to make more panic!
 *tips* |
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you are a fool if you think this is the end.
we are reaching the bottom this week.
have a nice day!
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I swear I don't work for PayPal. |
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The Zen of Bitcoin says: Buy whenever you see many new-users posting about the end of Bitcoin. |
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You may have mistaken a . for a ,? haha you are right, I now internationalized it removing the thousands separator completely. You may have mistaken a . for a ,? USA = , EU = . how to they express 0.1 then? 0,1  |
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lol who is creating FUD accounts?
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Today I had one of those very realistic dreams: for some reason I can't remember there was a new rally, and the price went to $4653 in a rally short period of time, and I was really sad because I didn't own any btc.
I have a feeling, but I can't buy Bitcoins right now, so do me a favor a do not start a new rally until next month ok? thx
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I hope some day in the future there be a cure for ALS and a way to revive you Hal. RIP o/
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how is 850k of 12+million of existing coins is a 40% "market cap"? it looks to me less than 10% and less than 5% of all 21 million coins
No fork and no Bitcoin Code Authority please !
Bitcoin is Bitcoin not Gox-coin !
Maybe you say that because you think that 850,000btc is not so relevant. What would you say if BitStamp, BTC-E, Coinbase, and Huobi get hacked or "gaged"? Let's say that now 40% of all coins are owned by one single hacker, would you fork? |
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So what you lot going to call this new fork? Obviously you can't call it Bitcoin, as Bitcoin's transactions are irreversible, which is why we trust it, hence giving it value.
You are wrong. Transactions are reversible but it's "computationally impractical" to do so, though in some extreme situations the network agrees that it's better for the majority to reverse/fork the blockchain. As we already discussed in this thread last year a technical problem within old clients "splitted" the network in two, the longest chain was abandoned by the consensus of the miners in order to join the network and give time to people to update their clients. IIRC the Bitcoin Foundation retributed bitcoins for those who lost money. So we are using a hard-fork of the blockchain, did we changed the name of Bitcoin? nop. If we already hard-forked the blockchain for technical (and in many ways economical) reasons, why we shouldn't consider to fork when some potential catastrophic situation could destroy our economy? btw I am amazed that some people here thinks that a currency could work with one bad actor owning 40% of the market cap. |
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The problem is that 850k is more than the whole demand of bitcoins in all the exchanges combined. Actually I think it's almost three times the current demand. We don't know the intentions of this bad actor, the only thing we know (in our universe of discourse...) is the amount stolen. The bad actor could manipulate the market for years, for example one could mix those coins and sell otc just small fractions (best case scenario), or send everything to one single address, write some scary message (like "in one hour I will drop 100k in BitStamp") and sign it, get profit from shorts, or talk with some external entity who hates Bitcoin and make some real deals with them. If I were a big bad bank I would try to find the hacker right now, create an alt-coin, destroy bitcoin's economy with occasional drops, let people speculate about future drops.
it looks like either you're full of fear yourself or trying to spread fear in 'masses'. you have no idea what the real true demand is at any price point below current, you only see demand that is on display on order books. at the very worst or best, depending how one looks at it, 850k btc priced at $0.01 for instance costing $8500 would be snapped in an instant. that's your worst case scenario which btw has close to 0 chances to play out in reality I don't understand your point. Obviously when I said "demand" I was referring to the bids in the order books. If the bad actor sells only 10% of its loot in BitStamp the price would go to $1. Could people start buying coins like crazy? of course yes, but would they do such thing when someone with obvious bad intentions is dropping massive amount of coins? I don't know. The reality (in our universe of discourse) is that now there is a single entity with a lot of power over the economy. I am not trying to spread FUD, I am just trying to analyze this hypothetical situation. What I now understand is that Bitcoin can be perfect, but our ecosystem is far away from being perfect. We took an amazing distributed technology and we are basing its economy on centralized services (exchanges, virtual wallets, mining pools). While some of you may think "fuck Mt.Gox, I have never used them, this doesn't affect me" the reality is that we are all tied together. |
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