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waiting for a nice comeback just as LTC did.
It' 4 year old coin.... U can wait about 40 years  . Good luck It's still on poloniex, and any coin on that exchange can get pumped. They are removing some coins soon, and vertcoin isn't getting removed. They must be keeping it on the exchange for a reason, perhaps because it might have a good comeback. |
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does anyone know why the price VTC exploded last year in June?
Thanks
Chinese pump Vertcoin and most of the old altcoins that had a big pump in 2014 seemed to get pumped again last year in June. Mintcoin got pumped despite not having a dev. It might have been due to Chinese pumpers. Whoever was responsible must have been quietly acquiring all the coins before they did those pumps. |
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If bitcoin will go up to $800 then we could see a new all time high in my opinion. We have to cross and destroy the latest 2016 ATH to be ready for the moon take off.
A lot of new money is flowing into btc and this means only one thing, that the way is up.
Christmas gifts are just around the corner
If Bitcoin goes up to $800 it will probably continue going up to the 2013 ATH, but there might be a retrace off it back down before it goes any higher. Some predict it will surge straight through the 2013 ATH and continue to $2000 or $3000. Others predict it will go up in steps with retraces in between them, and I think that's what will happen. |
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It's probably only a coincidence, but the source code for the “Mirai” botnet was released over the weekend at the same time these strange connections to the Bitcoin network started. The “Mirai” botnet infects “Internet of Things” devices like security web cameras. It was used to launch the largest DDoS attack seen so far. https://krebsonsecurity.com/2016/10/source-code-for-iot-botnet-mirai-released/The source code that powers the “Internet of Things” (IoT) botnet responsible for launching the historically large distributed denial-of-service (DDoS) attack against KrebsOnSecurity last month has been publicly released, virtually guaranteeing that the Internet will soon be flooded with attacks from many new botnets powered by insecure routers, IP cameras, digital video recorders and other easily hackable devices.
The leak of the source code was announced Friday on the English-language hacking community Hackforums. The malware, dubbed “Mirai,” spreads to vulnerable devices by continuously scanning the Internet for IoT systems protected by factory default or hard-coded usernames and passwords. |
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Some of the Gox coins are due to be returned to their owners sooner or later. They will only get left over scraps compared to what they lost, but they will get something back if they put in a claim. Bitfinex might use the coins it gets back to help pay for its "hack".
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...
personally i dont think there will be a big bitcoin buy-up due to BoS, but the news itself of stupid idea's banks come up with that have no rational reason, or proves that banks are bad.. can only be a good thing for real asset holders like bitcoin
If enough people buy a small quantity of Bitcoins to hedge against all the crap going down with fiat then it could result in a big bitcoin buy-up. I'm sure some Bitcoin holders who found their Bitcoins going up in value as their fiat crashed against the dollar told their friends and family about the profit they made. The people they told might decide to buy a small quantity of Bitcoins themselves as a hedge. If they make profit some will tell others about it, and perpetuate the cycle. |
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05 Aug 2016 at 12:09 AM (UTC)
We are still working out the details so nothing is set in stone, however we are leaning towards a socialized loss scenario among bitcoin balances and active loans to BTCUSD positions. The numbers being quoted are erroneous as nothing has been decided as of yet and we are still in the process of settling positions and balances. More details are to follow tomorrow along with a FAQ answering most of the questions we have been asked over the past couple days. erroneous loss or erroneous amount of bitcoin available to "socialize" the loss. if bitfinex held ~230K BTC everyone gets a 50% hair cut We NEED a rough estimate of bitfenix's total BTC holdings this info is simply not available here we go some conjecture.... https://www.reddit.com/r/Bitcoin/comments/4md665/coinbase_may_have_lied_about_the_number_of/Coinbase is now storing 'about 10% of all bitcoin in circulation'. you'd think bitfinex had a similar amount of coins? right? so like ~1.5million coins everyone gets a ~10% hair cut? wouldn't that be lovely An ibtimes story quotes Charles Hayter estimating that 20% of all funds were lost, provided it had double the coins on deposit compared to last year. The story says the hack in May last year lost it 1,459 BTC which represented 0.5% of all customer deposits. If Bitfinex had the same number of coins deposited this year then the hack might have lost it 41% of all customer deposits. http://www.ibtimes.co.uk/hong-kong-bitcoin-exchange-bitfinex-reports-65m-btc-stolen-by-hackers-1573968Charles Hayter, CEO and founder of CrytoCompare told IBTimes UK: "It is not clear on what the capital buffers are at Bitfinex, although if we take last year's figures of 300,000 bitcoin and apply a generous doubling, we can speculate that 20% of all funds have been lost. Bitfinex was hacked last year in May when 1,459 bitcoins were lost. Their hot wallet system for customer deposits was breached, which at the time represented 0.5% of all customer deposits. Bitfinex subsequently teamed up with BitGo to implement individual multi signature wallets for users. |
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Thanks for that link ECB... The post pretty much states that Bitfinex is going to make a more official update tomorrow, but in the meantime, like you said, Bitfinex is considering a way to socialize losses amongst Bitfinex BTC holders. I don't really have a problem with socialized loss in the sense that Bitfinex would later pay back those "losers"... yet, I believe that they are not considering paying back the "losers"... I think that it is a bit irresponsible to cause the users to hold the bag... and even though we are finding out some details, we still have to wait for more specifics, which seems to be scheduled to come out tomorrow. Although Zanetackett keeps talking about scenarios he has stated twice that USD funds will not be susceptible to the socialised loss. I feel for the Bitfinex Bitcoin holders, but it seems the Bitfinex USD funds holders dodged a bullet, provided Bitfinex implements its socialised loss scenario. https://www.reddit.com/r/btc/comments/4w7o1j/itfinex_update_regarding_margin_funding_providers/d64q1b3So USD funds (that were simply held and not lent out) would not be affected at all by the hack, correct?
In that scenario, they would not be susceptible to the socialized loss. https://www.reddit.com/r/BitcoinMarkets/comments/4vtv1m/bitfinex_down_due_to_bitcoin_security_breach/d64qhkrIm presuming the BTC I was holding may be subject to socialized losses, but not the USD in my account?
That would be correct. |
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 from a reddit post Is that saying Bitcoin is dead and is heading nowhere but down? From Bitcoinity  If Bitcoin is dead why has it bounced back to $580? Shouldn't there only be dump after dump until it's back below $1? Its price is volatile today but its staying above $500, and keeps testing the high $500s. Bullish |
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This is definitely something interesting.... however, it is not important at all. Bitcoin doesn't need anonymity. Those who need it have things to hide...
that's naďve. people automatically have it when using fiat. if you were using bitcoin for everything you'd pretty soon be longing for some anonymity. in a full bitcoin world everyone would know what you were earning, what you spent things on, what you paid for things. you might start off pseudo anonymous but one slip up could link your id to all of your addresses. businesses would have their finances wide open for other businesses to analyse. there are ways to cover your tracks right now but they're not foolproof and i don't reckon people should have to put conscious effort into something so important. Some Bitcoin users need anonymity, and some don't. That's why mixer companies make profits. In a full Bitcoin world nobody buying stuff like a coffee or a McDonald's would care about anonymity, like when they pay for those things with debit cards today. For transactions where people care about anonymity there's already mixers, and there would still be mixers in a full Bitcoin world. |
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Do they exist? How many are there? Who are they?
Are they still gonna be 'accumulating' in 2030? What happens when a new breed of whale accumulates from the old ones?
Do they have a big red button that releases bitcoin when they're ready?
Hit us with your wildest thoughts.
Biggest most active whales are those behind the Chinese mining scene. China by now owns Bitcoin and runs the market as it's own personal cash cow, and as Bitcoin continues to grow and the network resource demand becomes increasingly bloated, miner politics are posing a grave danger to the future viability of the whole project, which in turn renders Bitcoin increasingly unappealing for Western based whales. A Western based whale can own as many Bitcoins as he likes, but with 80% of mining capacity in China, he is invested in phenomena that is fully at the mercy of a culture that Western finance simply does not trust to act honourably nor reliably (towards outsiders). There are addresses containing massive numbers of coins that haven't showed any activity for years. The coins in them are so old that they were probably acquired by Westerners. China might have 80% of mining capacity now, but it didn't in the early days when there were more Bitcoins in rewards. I don't think China has all the biggest whales, the West probably has the biggest and oldest whales. |
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so your not looking to "volunteer" but to get paid work..
ok i see money is your priority.
yet we have not even seen a single idea, solution, promise, plan, of what you want to do.
setting up a foundation is like setting up a business if you have no clue what product or service you will offer you have failed before you have started.
Most of the top people who ran the original Bitcoin Foundation wanted paying handsomely for their work, and fat expense accounts. It spent 5800 Bitcoins in 10 months. He wants the same deal the top people at the Bitcoin Foundation got, but people are skeptical of Bitcoin organisations after witnessing the mismanagement of those 5800 Bitcoins. He's got no chance. https://www.cryptocoinsnews.com/bitcoin-foundation-blew-5800-btc-10-months/The Bitcoin Foundation(TBF) Founding Director Jon Matonis explains the $4.6m loss in 2014. Funds were drained by exorbitant monthly expenses, conferences and the falling price of bitcoin. |
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The price is back to $666 on finex AGAIN.
What is it about this $666 price? It's been gravitating back to it for weeks and weeks, no matter where the price goes it always comes back to $666. Is it going to carry on like that for months longer?
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We were in the 300's not too long ago, this dump shouldn't bother people too much. The price will rise again significantly after the halving.
Remember you haven't lost anything if you're HODLING.
A week ago I din't think the price would break $700. It's $664 on Bitfinex, which isn't much different to a week ago. The price can't endlessly rise without some corrections, and that's all this is. |
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I think it's bullish in the long run. Last year Bitfinex flash crashed down to about $150 and two months later the price mooned to $500. None of the other exchanges flash crashed so low. Today Bitfinex going offline sparked this dump, and I wonder if there will be another moonshot in two months from now. Bitfinex starting a flash crash can precede a moonshot.
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i think these feature won't be available in paypal and also i was heard that some of paypal users switched to using bitcoin and i personally don't expect those feature because i had already comfortable using bitcoin even though i have paypal account and i think because the complicated requirements and high fees people will stay away from paypal including me
I choose to use Bitcoin rather than Paypal if given a choice, and I'm finding more websites than ever with that choice available. Bitcoin is a competitor for Paypal and Paypal doesn't want to encourage its adoption by allowing people to deposit money by bitcoin. |
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So, this attitude already shows that this guy cannot be Satoshi since S.Nakamato wouldn't do such a thing. His main purpose to make use of the technology laying beneath bitcoin free and easy to everyone, so that bitcoin can become people's money not financial behemoths , and trying to get almost all possible blockchain-related patents of course tears down the foundations of this idea. Even declaring his identity undermines bitcoin, and Satoshi never does that.
So, who the fuck is this guy, and what is he trying to do?
A guy called O'Hagan has written a book about him after spending some time with him. He says some business associates paid off Dr Wright 's debts to the Australian tax authorities after he tricked them into believing he's Satoshi. In return they wanted the rights to his "inventions and patent application" and to sell them as the work of Satoshi Nakamoto. If that's true Dr Wright ripped them off worse than the Australian tax authorities. O'Hagan doesn't prove who Satoshi is in his book, he only wants to make a fortune selling it. http://www.bbc.com/news/technology-36575524But O'Hagan shows us something rather different - a man under intense pressure from business associates who stood to profit from him if he could be shown to be Nakamoto.
These people had signed a deal with Dr Wright in June last year, which saw them pay off his debts, including legal fees incurred in a battle with the Australian tax authorities.
Then, they had a plan for him.
"They would bring Wright to London and set up a research and development centre for him, with around 30 staff working under him," O'Hagan writes.
"They would complete the work on his inventions and patent applications - he appeared to have hundreds of them - and the whole lot would be sold as the work of Satoshi Nakamoto, who would be unmasked as part of the project." He may have exaggerated his contribution, he may have constructed a very elaborate fantasy... If you are expecting O'Hagan to reveal the truth behind Bitcoin's creation myth, you will be left disappointed. |
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