Jan 1 2015
Pick your price:
750000000, pretty easy call. And a nearly 16 quadrillion Dollar market cap  Quick someone buy a Satoshi for $10,000 so bitcoin can have a trillion dollar market cap. |
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Could Gox ever be shut down for malicious practices, and in the process locking all customer funds indefinitely? I'm just wondering since they haven't paid anyone since july. And because I want to work the arbitrage with my euros, but the risk of my funds getting locked up in that shit really deters me.
As the value of BTC rises the risk of someone suing Mt Gox and shutting it down in Japan rises. It doesnt make any sense to hire Japanese lawyers if Mt Gox owes you $2000. It is a no brainer if Mt Gox owes you $20 million and isn't paying. What I want to know is why MtGox don't just write a old fashioned check ? Or they could get bank drafts / cashiers checks and FedEx them. There are other ways of sending money than wire transfers and it doesn't need to be electronic. I expect Mt Gox has gotten itself into a position where people don't send it fiat only bitcoin. Accordingly it is bitcoin rich and has severe fiat cash flow problems. It can't exactly dump its bitcoin holdings on Bitstamp. |
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Is that a typo in the URL or malware. What is .be supposed to be? |
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I think I am getting paywalled out of the FT article.
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Could Gox ever be shut down for malicious practices, and in the process locking all customer funds indefinitely? I'm just wondering since they haven't paid anyone since july. And because I want to work the arbitrage with my euros, but the risk of my funds getting locked up in that shit really deters me.
As the value of BTC rises the risk of someone suing Mt Gox and shutting it down in Japan rises. It doesnt make any sense to hire Japanese lawyers if Mt Gox owes you $2000. It is a no brainer if Mt Gox owes you $20 million and isn't paying. Thats called shit hitting the fan. Lol who want to imagine what would happen is a mt gox shutting down article appeared By extension a drastic price rise is dangerous for all exchanges. |
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Could Gox ever be shut down for malicious practices, and in the process locking all customer funds indefinitely? I'm just wondering since they haven't paid anyone since july. And because I want to work the arbitrage with my euros, but the risk of my funds getting locked up in that shit really deters me.
As the value of BTC rises the risk of someone suing Mt Gox and shutting it down in Japan rises. It doesnt make any sense to hire Japanese lawyers if Mt Gox owes you $2000. It is a no brainer if Mt Gox owes you $20 million and isn't paying. |
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I wonder how much longer this can go on. It's been like this for like 6 months. 40 million USD on the books and god knows how much on the sidelines, all not possible to get out. People must be getting impatient/worried right? Not my problem though, I'm euro...
This is an enduring mystery to me as well. You want to pay more for your coins and you don't want to be able to get any cash out? Surely people have researched it enough to know not to bother. Perhaps not. You can withdraw fiat from gox in yen. |
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Bitcoin/Bit/Satoshi is the way to go. Each range of 4 decimal places will cover 10,000 units, which is easy to remember, and the names are easy to say. And look at this beautiful little thing below. You can express this whole naming scheme in two lines!
1 Bitcoin = 10,000 Bits
1 Bit = 10,000 Satoshis
Simplicity. Marketability. Roll-off-the-tongue-ness.
The nice thing with the 10,000 factor is, we have already another one for the upper side (although it sounds more slang than offical): 1 Pizza = 10,000 Bitcoins Agreed but should be shortened to slang for Pizza = 'Za' "That whale owns a Za". |
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I fucking love this superexponential market and it's hourly gains.
This is hyperexponential. Can I make a request for a hyperexponential line on a chart pls TA experts. K thnx I have my spreadsheet at home, so not now.. btw, according to Wikipedia it's called Tetration - http://en.wikipedia.org/wiki/TetrationHow many levels should we have?  From Wikipedia: , for n = 1, 2, 3 ..., showing convergence to the infinite power tower between the two dots Convergence to the infinite power tower. Omg. That's pornographic. |
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Yep ATH cometh..
If a lot of wires hit Stamp today, I might agree. Panic and despair from those whose wires are delayed. |
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Ps Australian stock market up 15.5 percent in 2013.
Bitcoin up 18.8% in 18 hours.
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I fucking love this superexponential market and it's hourly gains.
This is hyperexponential. Can I make a request for a hyperexponential line on a chart pls TA experts. K thnx |
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let's see how price reacts to the 1070 level:  Obliterated. |
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When I was a freshman uni student I went to visit a girl called Sarah. At 2am. She was 17 and lived at her parents place at the guest house out back. You had to be ultra stealthy because her parents house was next to the British embassy and there was always a police car parked out front 24/7.
So I parked way up the street and crept along the hedges and slipped over the fence. The copper didn't notice. Quietly down the drive (careful to stick to the wall to avoid the light sensors) and then across the yard to the guest house. I tapped on the door and called her name. A rather annoyed balding man answers the door in a dressing gown. Turned out they had real guests that week. I bolted and got away without a police pursuit but I don't think Sarah got off so lightly.
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There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.
For about 40 million you could get a corner on bitcoin.
That's about 9 days of mining output.
If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded. Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred. People will probably flame me for saying this but whatever. I am contributing by buying and hodling. You're right. In theory, one coin could be sold for $100k USD and for that brief moment, the market cap would be ~$1.2 trillion. You guys realize as the more and more big players and funds get involved the more BTC will be sold OFF EXCHANGE and that the # of bitcoins sold on exchanges will DECREASE overtime? Its these little obvious facts that seem to evade people who doubt the price of bitcoin can't go much higher. I am perfectly aware that the price will go to 1 billion dollars per BTC when there is only 1 bit coin left on Mt Gox. I am also perfectly aware that this price will instantly halve when some whale releases a second bitcoin on Mt Gox because "the market can't handle the volume". It's laughable and I am quite enjoying it all. What discount do you think the big off-exchange trades are going at? My bet is that they are at least a 50% discount to market (still an enormous sum). LOL. wut? 50% discount? Why the hell would miners sell off exchange for that? The off exchange is an advantage for the BUYER. Fixed price. If you have read commentary from people who have bought off exchange sometimes its a minor discount and often a minor premium. I'm not talking about some miner with 50 coins to flog. You tell me how you would sell 100,000 coins in this market inside a month without destroying the global market. The *only* way to do it is off exchange. And the buyers know that - they will have exactly the same problem unless they themselves sell off market (eg an ETF) to the punters. In case you haven't noticed the Winkelvii are stranded if they can't get an ETF up or they don't find another whale to bail them out. It's quite funny really and their position is only getting worse as the liquidity dries up and the price goes up. Of course it's a nice problem to have and maybe liquidity will return. One day. |
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There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.
For about 40 million you could get a corner on bitcoin.
That's about 9 days of mining output.
If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded. Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred. People will probably flame me for saying this but whatever. I am contributing by buying and hodling. Its still a new market, it will have these growing pains but I see the world waking up quickly on this, which will impart bring instability during price swings but , none the less this is exciting innovation we're seeing and experiencing Yes but we need some progress on all this innovation. It's all vapourware apart from a few ATMs and POS systems. There is no functional colour coin system, the p2p exchanges *may* work for crypto but are horribly flawed at the fiat end, 99% of alt coins are bullshit etc. |
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There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.
For about 40 million you could get a corner on bitcoin.
That's about 9 days of mining output.
If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded. Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred. People will probably flame me for saying this but whatever. I am contributing by buying and hodling. You're right. In theory, one coin could be sold for $100k USD and for that brief moment, the market cap would be ~$1.2 trillion. You guys realize as the more and more big players and funds get involved the more BTC will be sold OFF EXCHANGE and that the # of bitcoins sold on exchanges will DECREASE overtime? Its these little obvious facts that seem to evade people who doubt the price of bitcoin can't go much higher. I am perfectly aware that the price will go to 1 billion dollars per BTC when there is only 1 bit coin left on Mt Gox. I am also perfectly aware that this price will instantly halve when some whale releases a second bitcoin on Mt Gox because "the market can't handle the volume". It's laughable and I am quite enjoying it all. What discount do you think the big off-exchange trades are going at? My bet is that they are at least a 50% discount to market (still an enormous sum). |
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There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.
For about 40 million you could get a corner on bitcoin.
That's about 9 days of mining output.
If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded. Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred. People will probably flame me for saying this but whatever. I am contributing by buying and hodling. |
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1 Nakamoto could be shorted to 1 Nak or 1 Naka just like 1 Satoshi will probably be shortened to 1 Sat. Disclosure: I am talking my own book  |
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and some said it was china but seriously what is driving these charts, no major news, nothing, will there be a correction in week or two there's been some major news recently, but bitcoin is a viral phenomenon. We are just at the beginning of most people's awareness of QR codes, never mind bitcoin. Keep in mind that the VAST majority still don't really understand any of this. I still have to explain to some of my older (50+) friends how to use Youtube. I deal with people who pretend they don't know how to use email. |
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