What is the mark of beast? Sorry  The number "666", although even 555 will do when you are looking really hard for it. 101 is 5 in decimal but we are using binary here and so we count from zero. 101 is the 6th digit in binary. These guard patterns of 101 are the only thing that never change in a UPC mark. Even on the abbreviated 1/2 UPC, they are read three times, left, center (end), then left again. Always 6th, 6th, 6th.
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I was at the FiatLeak site, can anyone explain what's going on with the Chinese? It looks like they are in a frenzy to buy all the Bitcoins.
China messes with FiatLeak because its zero fee exchanges are 99% churn. |
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I'm getting sick of gox. I just want it to disappear now. Sounds like someone HODL!!!'ed when they should have SELL!!!!'ed. I've been profiting all the way down! But run out of fiat at $602. |
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I'm getting sick of gox. I just want it to disappear now. |
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This does not answer the question - why is goxbtc price so cheap compared to goxusd. They are both gox, and have been non-withdrawable for about 4 weeks.
Because, in the case of bankruptcy and court proceedings, claims in fiat are more likely to be disbursed to the creditors. BTC claims add a layer of complexity and may not even be recognized during liquidation. The Japanese legal system is opaque at the best of times. |
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[14:55:45] <Delerium> the protestors (Kolin etc) were fine
[14:56:08] <Delerium> its the other people which have been really harassing staff and placing unknown objects in their mailboxes
hahahahha, jesus
LOL this is getting out of control.... Well, if they restarted withdrawals, even limited size, it would calm the situation including the "others" |
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If the CEO is in danger of spilling his frapuccino when faced by protestors while trying to enter the building, well that IS a security issue...
Yes, and it caused the loss of days of work  . If they were anywhere near to allowing withdrawals, even limited size, the protest would have faded away. |
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Where's our man sturle?
Maybe wearing the silver mask at the MtGox Protest..? |
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Gox is down.
Mark carrying the servers to his new office. |
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If they were going to begin withdrawals today they'd announce it early so they could be in the office to supervise the process for most of the day. If we don't hear something in the next couple of hours don't expect any withdrawals today.
Maybe but I imagine if they are going to allow limited withdrawals the whole thing will be automated anyway, no need for supervision. Apart from topping up the hot-wallet when it gets hammered. |
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How the hell does Gox have a floor like that with no bid wall??
there is a wall Just appeared in last 10 minutes, before that only bot fractions. |
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Is gox buying all the coins it can at $261.23 with invisible orders?
No wall at that price, but it catches all sells. Are they stacking up coins ready for allowing withdrawals..?
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All markets except gox seem to be edging up...
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They moved all their servers without a trading halt?
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Sorry for OT guise, but just a quick question...
Can you buy fiat with BTC at these new ATMs? I cannot tell you how useful this would be for me.
You can with those Lamassu ATM's I think. Not yet. The Lamassu only sells bitcoins. Robocoin allows 2-way conversion. |
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There was also another great write-up by an economist, known as "11Bills", posted yesterday on reddit: Much has been learned in the last 50 years about “money / currency”. The goal presumably to find out what the best possible money is, then adopt it. The choices made deciding our monetary policy should be a matter of political debate. This debate though has largely been out of the public eye.
One needs to realize that the type of money used by a civilization has direct consequences on the distribution of wealth, the distribution of real physical resources, and the distribution of power. How money flows through the system results in how goods & services flow. Bottlenecks and distortions in the flow of money result in distortions of the real economy.
It is generally agreed that the most recent financial collapse was caused by financial distortions. Hundreds of billions of dollars lent out against personal housing assets that were overpriced, then resold at a profit as “AAA securities”. Any repercussion for the rating agency which confirmed that rating? Any inherent moral hazard caused by the link between rating agencies, and the banks issuing the securities?
Since this crisis began SIX YEARS ago, governments have been acquiring real assets by drawing on an empty but limitless bank account. The government does not even need to incur the expense of actually printing money to create billions of dollars of bank credit (that can be distributed to bank shareholders). Central banks have changed their official role from maintaining a fixed, counterfeit free supply to actively trying to manipulate the economy through monetary policy. Governments have targeted inflation in a period of natural deflation (by natural deflation I am referring to the natural process of prices decreasing because of better technology, better economies of scale, and higher productivity). Because of pressures of natural deflation central banks have been in constant monetary expansion. No other globally traded asset has decreased in value more consistently than fiat money.
Government manipulations distort the economy. Several results, some more visible in one economy compared to another: 1. The effect of monetary policy in China has been to funnel credit primarily to government owned enterprises and government friendly businesses at the expense of other actors in the Chinese economy, strengthening the control of the communist party. 2. In much of the western world (Canada, US, Britain most visibly), easy money policy increased house prices drastically. The ratio of wages to rents has been steadily decreasing, which reduces disposable income for the majority of households (consumer spending could be affected which could affect the broader economy negatively) 3. Japan has been in a debt crisis for 20 years. The main benefactors of ‘Abenomics’ are holders of the Japanese equity market; including many large foreign investors.
Our economy is experiencing financialization, which is a systematic exploitation of the monetary system to move wealth from the productive economy to the financial economy. In the past thirty years we have seen: 1. An increase in the size of the financial industry with respect to all other economic activity. Rising efficiency should have had the opposite effect on the industry. 2. An increase in the role of financial controllers in the management of corporations. 3. An increase in the percentage of financial assets in all tradable assets. 4. An increase in the perception that stock market fluctuation are a determinant of the business cycle.
We must ask ourselves: ‘will the nation continue to be the most influential actor on the flows of commerce?’ Nations limit trade, limit international cooperation, and create adversarial incentives. Politicians have been spouting about free trade for a generation, but ‘free trade agreements’ are complex laws designed to protect the interests of large corporations and industries. Bitcoin is an outlet for consumers and small businesses to connect globally with zero friction. Trust is placed in an online network that is the result of a scientific breakthrough in mathematical security that cannot be interrupted by outside forces.
Today 1% of that market costs 96million. In July of 2009, the United States paid more than $19 billion in interest on the public debt.
The first step is to recognize that national paper money and fractional reserve banking are human institutions, they were built on the ideas, politics and technology of last century. They can and will change over time. They should change now. A de-centralized monetary system is more democratic and will put different pressures on society and lead to different results. A monetary system that puts more value on resources in the future (deflationary) will result in a society more willing to conserve. A monetary system that is equal across all nations will encourage reflection on the wealth inequality between nations and encourage international charity, international remittances and the support of small businesses selling their goods internationally.
Bitcoin is the first mover in the market and there is no reason to believe that Bitcoin will not be a leader over the next decade because the growth of this market has inherent positive feed-back loops. As the market grows in size the developers who believe in the durability of Bitcoin in the long term have more funds, and time to invest in technological improvements. This investment will happen on two fronts. The protocol will likely see an update that addresses malleability of transactions, and the scalability of the blockchain. These updates are being done by well educated experienced experts with extreme focus on the security and stability of the release. There will not be a Bitcoin protocol release analogous to the Obamacare website launch. The second front of Bitcoin development is built using the blockchain to establish trust. Several companies have made breakthroughs into the online payment system market, and a lot of work is being done to ease the usability and security of Bitcoin wallets (Electrum is my recommendation to you! bitcoin.org → resources → wallets → Electrum). Services that create contracts (ownership) between investors & savers will be provable on the blockchain. Bitcoin can also be the vehicle to create contracts (m of n addresses) that create a very secure escrow.
TL:DR Do not let short term market speculation by people who do not believe in the long term use of Bitcoin disrupt the development of this technology.http://www.reddit.com/r/Bitcoin/comments/1y70jb/my_view_on_the_future_of_bitcoin_i_have_a_degree/ |
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Yes, cavirtex is fine.
I also spoke by email with Eric from Bylls.com in Montreal this morning [this is the bitcoin-to-bill-pay service that allows you to pay your electricity and cable bill with bitcoins!!]. He says they have secured multiple banking relationships, so they are not affected.
omg why wasn't i told about this Because it was buried under all the troll-garbage on here, unfortunately. |
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i have no clue what you've all been trolling about, i've been a busy bee.. but CCMF sounds right. with this new higher low, that bottom is looking solid. we're seeing a rising price when the market isn't taking heavy fire. 1800$ in 14 business days? i think so.... Hopefully, but is this your new $180 call which was only right after several months and the 10th countdown! |
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I am not a resident of Japan, I live in Canada but I see any delay in domestic (within Japan) JPY withdrawals as a very serious negative indication of the creditworthiness of MTGox.
I agree with you, but the plausible theory for this is that because USD wires are blocked and euro ones are glacial, then the main flow of fiat out of gox recently is via yen. This presents a problem as gox may not have enough incoming yen deposits and would need to convert USD or euro holdings into yen. They are stuck on that, hence the yen withdrawals are drying up too. But this is exactly what they do, isn't it? -- charge a 5% premium to convert. So why would this be an issue? Isn't the 5% fee for an "faster" withdrawal? And these are delayed too. What I am thinking is that gox has delays with its bank(s) in just converting currency for its own purposes. |
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