Buy on rumor, sell on news...
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Fuckin A right doggie!!!!!!!!! Will those POS terminals indirectly create more sell pressure on illiquid exchanges?
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I wouldnt mind a little sideways action if it means fewer pics of dead animals.
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Can't help feeling like big dumps incoming.
Consult with BFX owners and employees if you would like a more certain answer.
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This is just ridiculous...
None of us at Bitfinex take advantage of any inside information, and each of us monitors each other to make sure that we are behaving ethically. However, how would we go about obtaining bitcoin? We work hard to build a good exchange, because we believe in bitcoin, so we should go trade on another exchange? I have known Phil a long time, and he is extremely ethical. I, for one, use bitcoin in order to withdraw my paycheck. I usually place a small market order once a month, but I have no idea what the state of hidden orders are, or whether the market is going up or down, and I don't much care about those things. I need to convert a certain amount of dollars into the equivalent amount of bitcoin, so I just buy some bitcoin.
I'm not sure how this works in the "real world", but I am pretty sure that someone who works at Nasdaq can still trade stocks that are listed on Nasdaq. They aren't getting any special information, or access to a VIP service, but they still probably have a retirement account, or something along those lines, and still have investments. I don't think that because someone works at Nasdaq, they cannot own Apple shares in their retirement account. So, I am beyond annoyed that people think that someone who is interested in bitcoin enough to work in the bitcoin space, surprise, surprise, buys bitcoin...what is the alternative, that everyone interested in bitcoin enough to work in that space cannot use their own product?
Anyway, I think most people have enough experience with Bitfinex to know that we value our reputation as a fair place to trade, and specifically keep rules in place that cost us money because we think that the benefits of a fair marketplace far outweigh the small short term gains of cheating. I've been a big fan of bitfinex since before I started working here, and I haven't closed my account just because I got a job here.
Let me get this straight. You acknowledge Phil's story and admit to trading on your own exchange but maintain, "there is no insider trading, because: believe me." Someone else plz quote mjr before he edits/deletes.
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Someone else quote this before it is edited/deleted: This is just ridiculous...
None of us at Bitfinex take advantage of any inside information, and each of us monitors each other to make sure that we are behaving ethically. However, how would we go about obtaining bitcoin? We work hard to build a good exchange, because we believe in bitcoin, so we should go trade on another exchange? I have known Phil a long time, and he is extremely ethical. I, for one, use bitcoin in order to withdraw my paycheck. I usually place a small market order once a month, but I have no idea what the state of hidden orders are, or whether the market is going up or down, and I don't much care about those things. I need to convert a certain amount of dollars into the equivalent amount of bitcoin, so I just buy some bitcoin.
I'm not sure how this works in the "real world", but I am pretty sure that someone who works at Nasdaq can still trade stocks that are listed on Nasdaq. They aren't getting any special information, or access to a VIP service, but they still probably have a retirement account, or something along those lines, and still have investments. I don't think that because someone works at Nasdaq, they cannot own Apple shares in their retirement account. So, I am beyond annoyed that people think that someone who is interested in bitcoin enough to work in the bitcoin space, surprise, surprise, buys bitcoin...what is the alternative, that everyone interested in bitcoin enough to work in that space cannot use their own product?
Anyway, I think most people have enough experience with Bitfinex to know that we value our reputation as a fair place to trade, and specifically keep rules in place that cost us money because we think that the benefits of a fair marketplace far outweigh the small short term gains of cheating. I've been a big fan of bitfinex since before I started working here, and I haven't closed my account just because I got a job here.
mjr is the owner of BFX. *edit* not sure if he is the owner, but he claims to work there.
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This is just ridiculous...
None of us at Bitfinex take advantage of any inside information, and each of us monitors each other to make sure that we are behaving ethically. However, how would we go about obtaining bitcoin? We work hard to build a good exchange, because we believe in bitcoin, so we should go trade on another exchange? I have known Phil a long time, and he is extremely ethical. I, for one, use bitcoin in order to withdraw my paycheck. I usually place a small market order once a month, but I have no idea what the state of hidden orders are, or whether the market is going up or down, and I don't much care about those things. I need to convert a certain amount of dollars into the equivalent amount of bitcoin, so I just buy some bitcoin.
I'm not sure how this works in the "real world", but I am pretty sure that someone who works at Nasdaq can still trade stocks that are listed on Nasdaq. They aren't getting any special information, or access to a VIP service, but they still probably have a retirement account, or something along those lines, and still have investments. I don't think that because someone works at Nasdaq, they cannot own Apple shares in their retirement account. So, I am beyond annoyed that people think that someone who is interested in bitcoin enough to work in the bitcoin space, surprise, surprise, buys bitcoin...what is the alternative, that everyone interested in bitcoin enough to work in that space cannot use their own product?
Anyway, I think most people have enough experience with Bitfinex to know that we value our reputation as a fair place to trade, and specifically keep rules in place that cost us money because we think that the benefits of a fair marketplace far outweigh the small short term gains of cheating. I've been a big fan of bitfinex since before I started working here, and I haven't closed my account just because I got a job here.
Let me get this straight. You acknowledge Phil's story and admit to trading on your own exchange but maintain, "there is no insider trading, because: believe me."
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I've suspected this for a long time. Exchange owners or their employees tell other privileged traders of incoming fiat deposits. Insiders pump, forcing new money to buy at inflated prices. Then dump once bid depth surpasses insider buy-in price. The bitcoin cult suffers from Stockholm syndrome. They are busy down-voting reddit posts on the subject and rationalizing/excusing BFX's conduct. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Transparency to pricing, lol. Sounds like they are investing to undermine and eliminate the competition. Well played, NYSE.
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My guess is that some exchanges had more fiat sitting on egopay than they are admitting.
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mjr,
How much of BFX's fiat is stuck in a frozen Egopay account?
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Don't BFX, OKCoin, BTC-e, Cryptsy and many other exchanges use EgoPay? I wonder how much frozen fiat they have sitting in their accounts...
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http://www.reddit.com/r/Bitcoin/comments/2skgcr/i_was_at_the_ross_ulbricht_silk_road_trial_day_3/This redditor claims to have been at the trial today and is answering questions. quodestlicitum The truth is I have no idea. But for purposes of the trial, whether I believe it is actually Mark Karpeles or not, isn't relevant. The defense is doing an excellent job of introducing reasonable doubt.
Keep in mind, the defense didn't mention Mark Karpeles in their opening statement. Dratel was able to get all this information out of the government's own witness on cross-examination. The government's own witness thought Karpeles was the invisible hand behind silk road, and that ashley barr was dpr.
Dratel asked Agent DerYaghiayan about information they had subpoenaed from Dwolla, and whether Ulbricht and Karpeles had moved money. Ulbricht had moved a few thousand dollars over 2 years. On the other hand, there was a firehose of money coming from Mt. Gox through Dwolla. Mutem Sigellum (Karepeles' holding company) had a transaction list 1000 pages long.
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Cross-post: http://www.reddit.com/r/Bitcoin/comments/2skgcr/i_was_at_the_ross_ulbricht_silk_road_trial_day_3/I was at the Ross Ulbricht / Silk Road Trial Day 3. AMA. (self.Bitcoin) submitted an hour ago by quodestlicitum
The defense dropped a bomb on the prosecution today. They were able to get the prosecution's own witness to admit that he had opened an investigation of Mark Karpeles and Ashley Barr as being the duo behind the Silk Road. The trial ended with the prosecution objecting to the defense's mention of Mark Karpeles's ownership of the site Bitcointalk.com, shortly after vehemently objecting to mention of a possible deal with Karpeles out of Baltimore to turn over the name of DPR in return for not facing any further prosecution. Crazy crazy day!
[–]i5o grabs popcorn
Do you personally believe it's possible that Ross Ulbricht's claims are true, and that Mark Karpeles and Ashley Barr were indeed running the site and using him as a scapegoat?
Link to the story for those who haven't read up on it.
[–]quodestlicitum The truth is I have no idea. But for purposes of the trial, whether I believe it is actually Mark Karpeles or not, isn't relevant. The defense is doing an excellent job of introducing reasonable doubt.
Keep in mind, the defense didn't mention Mark Karpeles in their opening statement. Dratel was able to get all this information out of the government's own witness on cross-examination. The government's own witness thought Karpeles was the invisible hand behind silk road, and that ashley barr was dpr.
Dratel asked Agent DerYaghiayan about information they had subpoenaed from Dwolla, and whether Ulbricht and Karpeles had moved money. Ulbricht had moved a few thousand dollars over 2 years. On the other hand, there was a firehose of money coming from Mt. Gox through Dwolla. Mutem Sigellum (Karepeles' holding company) had a transaction list 1000 pages long.
According to this redditor, DerYaghiayan suspected Ashley Barr was DPR. Googling "Ashley Barr Bitcoin" turns up the following: https://jp.linkedin.com/in/ar4sjphttps://twitter.com/ar4s
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http://www.reddit.com/r/Bitcoin/comments/2skgcr/i_was_at_the_ross_ulbricht_silk_road_trial_day_3/I was at the Ross Ulbricht / Silk Road Trial Day 3. AMA. (self.Bitcoin) submitted an hour ago by quodestlicitum
The defense dropped a bomb on the prosecution today. They were able to get the prosecution's own witness to admit that he had opened an investigation of Mark Karpeles and Ashley Barr as being the duo behind the Silk Road. The trial ended with the prosecution objecting to the defense's mention of Mark Karpeles's ownership of the site Bitcointalk.com, shortly after vehemently objecting to mention of a possible deal with Karpeles out of Baltimore to turn over the name of DPR in return for not facing any further prosecution. Crazy crazy day!
[–]i5o grabs popcorn
Do you personally believe it's possible that Ross Ulbricht's claims are true, and that Mark Karpeles and Ashley Barr were indeed running the site and using him as a scapegoat?
Link to the story for those who haven't read up on it.
[–]quodestlicitum The truth is I have no idea. But for purposes of the trial, whether I believe it is actually Mark Karpeles or not, isn't relevant. The defense is doing an excellent job of introducing reasonable doubt.
Keep in mind, the defense didn't mention Mark Karpeles in their opening statement. Dratel was able to get all this information out of the government's own witness on cross-examination. The government's own witness thought Karpeles was the invisible hand behind silk road, and that ashley barr was dpr.
Dratel asked Agent DerYaghiayan about information they had subpoenaed from Dwolla, and whether Ulbricht and Karpeles had moved money. Ulbricht had moved a few thousand dollars over 2 years. On the other hand, there was a firehose of money coming from Mt. Gox through Dwolla. Mutem Sigellum (Karepeles' holding company) had a transaction list 1000 pages long.
According to this redditor, DerYaghiayan suspected Ashley Barr was DPR. Googling "Ashley Barr Bitcoin" turns up the following: https://jp.linkedin.com/in/ar4sjphttps://twitter.com/ar4s
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