http://blockchain.info/tx/e5883f31409a7cefc0b15307671e166c90f74ab619adf42665dac2f153155c5f

Not really sure why bitcoind paid such a high fee for a transaction with only 2 inputs.

Anyone have a clue?

Im starting this thread for discussions/questions/information related to FYB-SG. It will also serve as a secondary point of information in the event the exchange server goes down.

From June to Sep, the price nearly tripled without any significant fundamental news(unless i missed something).
Then pirate defaulted and there was a spike down to $7+, which was readily absorbed and price has slowly creeped back up to where it is now(14+).

Yes, i know Wordpress started accepting BTC recently and Bitcoin is going to be gaining exposure at CES. More businesses are accepting bitcoin, all well and good.
But a 300% gain(all before Wordpress and CES news) just smells fishy to me.

What i think:
A 300% price gain in 3+ months without any significant fundamental reason is the work of 1 large buyer.
1) Maybe this buyer heard of bitcoin, did his research and believes in it as much as we do and is trying to scoop them up while they are still a bargain and is in this for the long haul.
2) This large buyer is here to make a quick 200-300% gain. Ever since price has risen to 12+, all the buy orders that were $5 and below have slowly crept up into the $12+ range.
If you look below 12.90 in the market depth table, there is very little liquidity to hold the price. It's almost as if the the large buyer has suckered everyone into buying at $13+ and is slowly letting his coins go whilst keeping 1-2 big orders below market price to give the illussion that there is very strong demand.

Personally i was thinking it was scenario 1, but after watching the PA and the market depth today, its starting to look like the chances of it being scenario 2 is not remote. Also a rich banker or fund investor is unlikely to have the technical background to understand the details of Bitcoin and appreciate the genius of it's design or believe in it's security.

On Bitcoin's 4th anniversary, im extremely excited to launch Singapore's First Bitcoin Exchange.

https://www.fybsg.com

Im hopeful that this will make Bitcoin more accessible to people in Singapore and trigger greater acceptance
of Bitcoin in trade and online businesses here.

Currently SGD deposits are only accepted via local Internet Bank Transfers.

Ive known about Bitcoin for about 1.5yrs and have been rather surprised that we do not yet have a local exchange.
Having to wire money to Japan or US is costly, slow and was enough to put me off my initial purchase back when Bitcoins were going for $0.80.
Ofcourse this is something that i have had to regret on hindsight.
Fast Forward to the block halving and Bitcoin hardly has any presence in the Oceanic Region. I guess ive waited long enough for someone else to do it.
Ive been working on an exchange for BTC/SGD and would appreciate if any members would be interested to assist me in beta-testing the exchange.

Since it is not live yet, i do not want to put up the URL in public yet(to avoid people finding the site via Google/other means and depositing real BTC, SGD).
PM me if you are interested to help me out with the testing and ill PM you the URL.

Thanks