I really like it. Give the power to the people. It's not intrusive, but effective. Everyone is happy.  |
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Anyway, give this time. The AOL CD's (BTC wallets and services) are just getting started. Regardless of how well BTC does, we are more than likely going to see some very interesting innovations in the next 6 - 12 months. I mean, I am no longer an IT expert, many years removed but I was able to figure out how use most of the BTC tools and such.
Sorry, AOL CD? Remember in the early days of the internet how those damn AOL cd's were all over the place? Many of us IT "geeks" hated them and thought it was a waste. Who needed that to connect? Just put your information in manually and then connect to the internet. I remember laughing that AOL stock was $5, man that wasn't worth it. Anyway, I called Amazon, Ebay and a host of other internet companies correctly, but I missed the one right in front of my nose due to my tech conditioning. Well now, the wallets and much of the BTC technology is a bit non user friendly - quite rough around the edges for non computer people. The analogy here is that we are just getting started and perhaps some of the die hard BTC people don't see how we need "AOL CD" like things to make this journey easier for us. That said, we are quite close to that. IT is not rocket science to make better wallets (e.g. - easily scan and import your private key and BTC's, not have to download the whole 7Gb of data with the standard client, etc.) Ah, those CDs.  Yeah, that's right. People are really trying hard. Almost everyday you have at least one thread on reddit about new offline wallets, generators or whatever. I'm still waiting for something revolutionary. Ref thin clients: check out Electrum. |
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How often do you buy/sell?
Depends. Intraday - a few days. With the recent tiny volatility, more holding.
Do you use one sized chunks (e.g. 100 BTC) or various sizes? How you decide on the amount?
I try to chuck the amounts over the course. I.e. setting up bids on the way down. My BTC money is playmoney. I'm usually all in, if everything goes right.
For how long do you wait before admitting bad decision and buying/selling back with loss?
Tricky. It's hard to overcome the psychological barrier, but you have to reevaluate the position every time. It doens't matter if you are losing or winning. All that matters is the current price and the future.
Are you using market orders? When?
Almost never. But Bitstamp's trading engine matches your order to the best offer. I.e. you can bet +5 $ over the current price and still fill the cheapest bid/ask.
Do you use API (bot/script) or web interface?
Self coded.
Do you use stop-loss orders?
Not yet. The volatily may be to high, but I have to do some backtesting. Also this requires running the stop-service 24/7.
What's your % gain since the 266 crash?
~250 % since mid april.
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Anyway, give this time. The AOL CD's (BTC wallets and services) are just getting started. Regardless of how well BTC does, we are more than likely going to see some very interesting innovations in the next 6 - 12 months. I mean, I am no longer an IT expert, many years removed but I was able to figure out how use most of the BTC tools and such.
Sorry, AOL CD? |
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Been sleeping the last ours. I read already about Webmoney accepting BTC and SatoshiDice excluding US customers. Great thing. Anything significant else? Let's visualize the real consequences of the Mt.Gox dilemma:  Just.. wow. Edit: Oh.. I see. About 50k? BTC sales on Gox last night. |
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I seriously wonder how this is going to end up.
Because Bitcoin loves to troll us. Explain to a noob -- how is Mt.Gox's price changing while the API is dead & the site's down? Is there another way to trade through Gox?  Yes - most people who are logged in are able to trade. Its a pain to get in but once you are there all is good. Thanks! Do they have a range of IPs to ease ddosing?  BTC-E: yesterday they were sub 100. Big price diffference. |
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Sending USD to Dwolla and receiving USD from Dwolla is considered as money transfer.
Have you thought that logic through? If that was the standard then YOU would need a MSB registration as would every single one of Dwolla customers. I'm no business => no money transfer business rule appyled. |
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Oh wow.. this title is quite irritating.DOMAIN: MTGOX.COM RSP: KalyHost URL: http://www.kalyhost.com/created-date: 2007-01-02 21:05:49 updated-date: 2013-03-29 09:44:40 registration-expiration-date: 2021-01-02 21:05:49 owner-organization: K.K. Tibanne owner-name: Mark Karpelès owner-street: Round Cross Shibuya 5F owner-city: Shibuya owner-state: Tokyo owner-zip: 150-0002 owner-country: JP owner-phone: +81.345206200 KalyHost is a service by Tibanne Co. Ltd., a company incorporated in Tokyo, Japan. Okay. Last one was unexpected
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How does Gox need a US license to transfer money when they are in Japan.
How does anybody need a license to transfer money period. At this point you basically can't do business without transferring money.
They need an American license when doing business with Americans in America. So in prosecuting MtGox for not having a money changing license, is there a legal precedent being set here that Bitcoin fits the government's definition of "money" ? Sending USD to Dwolla and receiving USD from Dwolla is considered as money transfer. |
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Bulls want more USD, bears want BTC.  |
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After reading the seizure warrent, I'd say: not a huge deal. They target US based money supply. Even the seized banking account at Wells Fargo was only filled with Dwolla cash, which was sent to Japan. It seems Dwolla was the only critical part. As (hopefully) the other funding options (i.e. wire transfer) aren't linked to US accounts, it should be fine. Lesson learned today: if you want to do business in the US, you have to do proper US paperwork. And tbh this isn't something unexpected. |
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I don't have enough knowledge, but could it be that this "Money Services Business (MSB) Accounts, Identification of an MSB Customer" filled by Gox 2011 lost his legitimation or correctness after the recent FinCEN guidelines? I'm not even sure, if they define BTC as currency. Would love to hear some more details, if relevant.
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The real panic sells haven't even started.
Not gonna happen. If their USD accounts get frozen, nobody wants to hold USD. Expect buy-ins and transfer to other exchanges instead. |
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lol I have a feeling that Gox really is kinda incompetent. Bias aside. I'm wondering why only Dwolla got frozen or is there something we don't know about yet? Nevertheless. I'm happy to have a reasonable explaination. |
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Dwolla is not illegal, where as Bitcoin is in violation of the laws of nearly every country. Just because you can avoid taxiation with Bitcoin doesn't imply BTC is illegal. It's like saying: because you can kill someone with a screwdriver, a screwdriver is illegal. Anyway. Calm down everybody.  Our goal is maximizing our profit and not fighting over words. |
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Your constant desire to buy lower (along with others like you) when you have already had ample opportunity is what is devaluing the currency. It's a self-fulfilling prophecy.
At some point, the momentum of what you are trying to do in the short term will overwhelm any momentum that will allow you to gain longer-term. People will just get bored. Then you can buy your cheap coins, and keep them. +1 Where do you guys read about Dwolla before the news broke?? Many threads on this forum and Reddit. Dwolla send out emails due to their open transparency policy explaining the situation. |
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Tell me about your bot, maybe I can help you with the streaming API.
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Wow.. that brings back sweet memories. |
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