yes i do
Use bitfloor. Deposit cash at Chase or Wells Fargo. It will be credited in seconds. |
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Do you live in the US homie?
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$1.4 million is required to bring it up to $12.
$1.4 million is required to bring it up to $12 instantly. I doubt all those asks would stick around if some heavy buying started. |
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Blocks take longer than 60 seconds to find, on average. So the mechanics of this game (as stated) will not work with Bitcoin.
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Depends on your definition of stable. If you mean, pegged to a fiat currency that's constantly losing value, then hell no. Why would anyone want that?
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If he doesn't pay back, down.
Care to explain this logic. Who is going to create this additional selling pressure to drive prices down? The investors who have no coins to sell because they weren't repaid? People who didn't invest who will suddenly feel the urge to sell because other people got scammed? Pirate? Trade a lot of easy to hide/transport BTC for a lot more easy to track USD? +1. Thanks for saving me 30 seconds of typing. |
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If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
What does that mean? Are you telling me the price of Bitcoins change so frequently that the value is unknown? I'm not that smart, but that doesn't sound like a very steady or trustful currency to use. I was looking forward to buying some bitcoins because a friend had told me they were around 5 dollars a coin. 10 dollars now!? It means if you're buying them to spend, they will buy 10$ worth of goods while they cost 10$. If you're scared off from investing in a commodity because the price changes, you don't understand finance enough to invest. Avoid it. If you just came here to bash bitcoin, then goodbye. |
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Because the only reason they bought the bitcoins was to invest for the interest rates? (I'm not saying all pirate investors were like this, but some must have been.)
Why would anyone think it was the majority. You're not invested in Bitcoin but you decided to take the leap because of an extremely risky HYIP opportunity? I would think that's almost no one. More like you're invested in bitcoin already & find this opportunity which you like so decide to invest in even more bitcoins. Opportunity is now gone so you sell off the extra bitcoins. Or you had wanted to sell off bitcoins but didn't because they were earning good interest in this scheme of pirates, but now its over you sell them. Mind you if the current price is low people might decide to keep them for now. Seeing as the price hit $15 recently it might be hard to sell for half that. This is a much more reasonable stance (also one that's completely different from what people are saying) and it doesn't point to a market crash. People are always selling what they can't afford to keep invested. And I completely agree, why panic-sell at 10 when we just hit 15? I don't think there's anything to worry about unless everyone is jumping to wrong conclusion at the same time - in that case, yes, I'm worried. But hopefully people are smarter than that. Either way, I think it will at worst just be a bump in the road, and I won't be selling a single bitcent. |
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Also, jwzguy, while yes, there are many who are people like you who are investing because of a loss of confidence in fiat, there are others who invested purely to make a profit. Since they will have made significant profits thanks to Pirate, I think that many of them will want to get out of this somewhat volatile market so that they don't risk losing these profits.
The thing I find untenable about this scenario is that you've got people who you're saying -weren't- interested in investing in Bitcoin (because otherwise they would just leave profits in BTC) who want to get out. Bitcoin is already seen as a very risky investment by many many people. It takes a lot of time and research to understand the merits and gain confidence. So these people are going to jump into who aren't BTC people are now not only going to dump their money into BTC, but also a HYIP? I don't buy it. Again - sure, maybe a handful exist, but to say that it would be enough to crash the market seems like a very wild and unsupported leap. |
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If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
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Because the only reason they bought the bitcoins was to invest for the interest rates? (I'm not saying all pirate investors were like this, but some must have been.)
Why would anyone think it was the majority. You're not invested in Bitcoin but you decided to take the leap because of an extremely risky HYIP opportunity? I would think that's almost no one. Loss of confidence, hampering the bubble we had.
I think the value without megabulls is below $10.
Obviously if you remove a big chunk of the the population that values Bitcoin, the market price drops. But you can't. So the only value that matters is the one that reflects the behavior of the entire population. |
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Simple economics. You increase the monetary base, the value of a unit of currency goes down.
Further more, people will sell out of fear that everyone else will sell. Look at the charts, it will only take a fraction of that 500k BTC to make a significant drop in the rate.
Except there wouldn't be an increase in the monetary base. People are just getting loans paid back. Some people may sell out of that fear - their loss. The charts only show the current orders on the books. They do not reflect the entire user base by any stretch. The longer this payout takes, the more academic this conversation is, though. |
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I see absolutely no reason they would want to. I sure wouldn't. Fiat's going down in value every day, why do you think I invested in BTC in the first place? That wouldn't change because I got out of a HYIP without getting burned. (Hypothetically, I didn't invest.)
We're talking about an entire population, and while of course there may be some people who overextended themselves to take advantage of the interest and desperately need some cash, I wouldn't expect it to be the majority.
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But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me. How so? If people get their coins back, do you not think that many of them will sell to try and get out? Why would they? If they get paid back, it's not like they got burned. |
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But it isn't done yet. Pirate hasn't paid everyone back yet. If he does, it will most likely result in a flooding of the market which will drop the price. If he runs off, the market will rally as everyone who invested with him tries to get back into the game.
That seems like a fairly baseless assumption to me. |
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i think asic will come not this year, but next.
Not sure if that really matters to GPU miners. Difficulty is currently estimated to go up another 12+% in 3 days. We're running out of time. |
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SHAVERS, TRENDON 101078 09/21/1982 THEFT O/20 U/500 BY CHECK
For someone reportedly turning 30, that would be an early start  That's probably his date of birth. Edit: if you click the link, it is indeed listed as as his date of birth. Not the date of the offense. |
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