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There is really nothing useful in this thread anymore.
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https://bitfinex.statuspage.io/So, when Finex comes back online, anyone affected by the theft will see that their position has been closed. "...we may need to settle open margin positions, associated financing, and/or collateral affected by the breach. Any settlements will be at the current market prices as of 18:00 UTC"This sounds like anyone who was margin long and lost the coins they were holding will have their long positions closed at the current market rate as of 1800 UTC. What about margin shorts? They didn't own any coins so all of the shorts should be intact. Right? What about someone who lent out their coins that were sold by a shorter? Those coins weren't stolen either. So, every coin that was stolen must have belonged to someone in a long position. What effect will this have on the market when they reopen? If the shorters want out, they have to buy Bitcoin but there are 120k fewer coins on Finex to buy. If the longs want out, their funds may be locked in USD or gone. If Finex eats the loss, the longs will have fresh USD to buy coin with if there are any for sale. If the BTC lenders want out, they will no longer be lending coins to short. This seems like it is going to cause prices at Finex to skyrocket when it opens.
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So where's that drop in hashrate that was predicted by the doomsayers?
The miners are still holding out hope the price will at least double to cover their losses. It will take a while for the hashrate to drop and it will only happen if the price remains suppressed for an extended period. |
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Um.... why is the reward on the last two blocks 16.66666666? Did someone forget how to divide by 2?
Blockchain.info screwup. Blockr.io correctly displays it as 12.51263172 Same thing with btcc too Relayed By BTCC Pool Block Reward 16.66666666 BTC is working. |
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Low volume bot trading in China manages to bring the price down with big volume on other exchanges. They don't even try to hide the manipulation, but I don't blame them, traders are blind anyways.
China, with Huobi, its "leading exchange because of volume" drops with around 500 BTC traded, while Bitfinex drops with around 6000 BTC traded. Whats even funnier is that Bitstamp had more volume on this dip than Huobi. The day these Chinese exchanges have fees is the day the whales lose their surefire way to eat up all you minnows.
Yea, was wondering if anyone else noticed this. Huobi rigged that drop to go as low as possible with 0 volume wash trading. Meanwhile, the entire sell side is 2-3 fake walls that will be pulled and the rest dust, so it could rise right back up to where it dropped from in seconds if "they" wanted to. Next leg is DOWN. No. |
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The bitcoin Bubble cycle  I think we're in the relief stage. |
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Stop defending him, he does not deserve it.
"Strong minds discuss ideas, average minds discuss events, weak minds discuss people." Fascinating idea!  Nicked it from Lauda's profile page Nice. Added to my signature. It's from Eleanor Roosevelt It looks like it is widely attributed to both of them but the Eleanor Roosevelt quote uses "Great minds" instead of "Strong minds". I think Socrates has a few years on her though. |
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Stop defending him, he does not deserve it.
"Strong minds discuss ideas, average minds discuss events, weak minds discuss people." Fascinating idea! Nicked it from Lauda's profile page Nice. Added to my signature. |
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This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
It's this kind of thinking of getting a silver bullet rather than an ongoing process that gets us in trouble Bitcoin can't fundamentally change and shouldn't change. There is no real governance, nor should there be. It needs set rules and that's it. The idea that it can change is what's getting us in trouble. Sure, added features that conform to the set rules are fine but things that cause hard forks can't happen anymore. The bigger it gets, the harder its going to be for these changes. It has to be a silver bullet or nothing. I agree that the block size needs to be on a fixed increase schedule, not a one time jump. I also agree that changes will get more difficult over time, but the only way to get the Chinese miners on board is to crash the market. Their business model doesn't work and they can't hold the rest of the world hostage with their slow-ass internet connections (that goes for TOR miners too). 100% full blocks now. It this the beginning of THE FULLBLOCALYPSE???Since we don't know what the future holds, the only logical way to increase block size over time is to re-target like we do with difficulty. Exclude no-fee or micro-fee transactions from the re-target calculation to filter out spam attacks. Done. |
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This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
It's this kind of thinking of getting a silver bullet rather than an ongoing process that gets us in trouble Bitcoin can't fundamentally change and shouldn't change. There is no real governance, nor should there be. It needs set rules and that's it. The idea that it can change is what's getting us in trouble. Sure, added features that conform to the set rules are fine but things that cause hard forks can't happen anymore. The bigger it gets, the harder its going to be for these changes. It has to be a silver bullet or nothing. |
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This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".
Anything less than that and Bitcoin will fail.
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Ok, new proposal on block size. 1mb max limit for transactions with no or micro-fee attached. No block size limit for transactions with a fee attached that is at least 90% of the average fee over the last 1440 blocks. Now go make it happen and stop dumping.
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Better dump everything now. This is going to negative digits!
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nothing major.  would powerball jackpot fund affect bitcoin price if the funds were gone to buy bitcoin? I was thinking I would buy ~200k bitcoin if I won so that would move the price a little. Still only ~20% of the Powerball winnings to buy 1% of the coins there will ever be at bargain basement prices. Still plenty of money for hookers and cocaine. |
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nothing major. would powerball jackpot fund affect bitcoin price if the funds were gone to buy bitcoin? I was thinking I would buy ~200k bitcoin if I won so that would move the price a little. |
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836 coin market dump in one shot
fat finger?
Probably someone wanted to buy a house. Damn that's a lot of coin's I dunno, in the bigger picture, one would expect somebody somewhere to once and a while exchange coins for a down payment on a house, if this is indeed to be a new default global currency. If we can't use it, what good is it? Exactly. To have real value for what it's best at (really secure transactions), the price is going to need to increase 100x-1000x so purchasing a couple million for a really secure exchange between businesses doesn't affect the market price. That's where this is headed. The only question is when. |
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i am starting to take this SN talk serious.........
edit: if so....how the fuck did they find him?!
Someone sent Wired and Gizmodo a bunch of stolen documents. The source said they used to work for Wright. |
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