 Market depth, Mt. Gox.There are far more sellers than buyers this week. The sell side keeps building up, but little new cash is coming in on the buy side. Remember, it takes $100,000 a day in new cash to keep up with mining. If the supply of suckers investors dries up, Bitcoin must drop. Yes, except the ones that really matter are dark pools, and we don't get to see them, and one of them at 10,000 BTC is enough to drive up the market price by 1.45 USD, as happened over the weekend. Aside from that, you're spot on.  |
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Hence the inflationary pressures on bitcoins currently exceed the adoption rate... it's why we're seeing inflation (IE: bitcoins going from 30 USD to 13 USD per BTC) as compared to deflation (13 USD to 30 USD per BTC). The monetary inflation, the 50 bitcoins every 10 minutes, was the same when the USD-BTC went from cents to 30USD than when it went down. The important question is: Why do you want the USD-BTC exchange to go to 30 again? Whats wrong with 13-14? The answer to this is that BTC going up to 30, or for that matter to 30,000, is really a reflection of other things we find desirable. I for one want bitcoins to be trading at 30,000 each, among other reasons, because if they do it'll be due to the fact that they have been adopted by a large segment of the population. Another reason to hope for higher rates for the BTC is that it will offset the market manipulation by people who don't really know what they're doing. Today, anyone with 20,000 USD can manipulate the bitcoin market up, down and sideways. When each BTC costs over 150 dollars, it will weed out many of the amateurs. |
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tl;dr summary
"bitcoins are THE ANTITHESIS of the modern banking system"
NEW WORLD ORDER
herp
derp.
KNIGHTS TEMPLAR
herp
derp
Knights Templar... LOL |
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People need to stop breathing and I will be happy.
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For a government to destroy bitcoin or any large company, they could buy up all the bitcoin and wipeout the martket. us$~100million is not that much for them to loose.
Every time someone buys a Bitcoin, the next Bitcoin costs them more. If a government tried to buy all the Bitcoins, the first Bitcoin may cost them $13.50, but very last Bitcoin they buy will likely cost them over $100million. They wouldn't need to buy them all, probably more like a million or so. Yes, it would drive the price up, but it would still be a bargain by US government spending standards. |
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Most effective i think, would be to just make bitcoin exchange illegal.
Arrest a few people, give them a few years jail-time.
Everybody gets scared, value drops, more people cash out, only a hand full of die-hard hackers/anons keep using it at 0.05USD/BTC
Yup, just like music downloads, porn, the war on drugs... That'll work |
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Technically, Nancy Pelosi hasn't quite come out saying she likes it yet.
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Am i to understand you are sexually attracted to the same sex?
If you mean the same as her husband, then yes. ROFL! Well put. There may be more women on the forum than many of you know. I've noticed that a lot of women use androgynous handles on forums where there are lots of men, particularly if there's any of the typical masculine back-and-forth teasing about sex. I'm an old lady by geek standards (50 this year), pretty tough, and perfectly willing to tell any nitwit that behaves inappropriately to BACK OFF. Not all women are, though. Where the topic of conversation isn't personal -- like, say, a new monetary system -- it's often easier to participate if some guys assume that we're men. The grown-ups, of course, have long since figured out that we might be interesting for reasons other than our gender.  Uhm... you sort of blew your cover there, Ergo |
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All right guys, stop drooling and stay focused on the technical issues.  Hey, she started it, what with telling us she was checking and all :-) |
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Am i to understand you are sexually attracted to the same sex?
If you mean the same as her husband, then yes. Right, thanks for the clarification. You mean, on top of being a smart cookie, and having a husband, she's also attracted to the same sex... I think I'm in love :-) |
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Further to my previous post on the difficulty of getting verified with Paxum, I had an email exchange with Chris. I accept his explanation for why the procedure may seem more difficult than is warranted, and on the face of it it seems to be so for the benefit of us, the customers.
He also offered a pretty easy solution, which I stupidly hadn't though of myself, to get around the problem.
So far, so good.
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Don't worry, Chris. If you address these issues, you'll likely find that Ergo will change the name of this thread. He's a completely different kind of person to the ones that attacked you in other threads. She. At least, last I checked. (My poor husband would be quite shocked if it turned out otherwise.) A thousand apologies... I shouldn't have assumed. In my defence, women seem to be scarce in these forums, enough that there's a whole thread about it, and another thread devoted to a single tattoo... sheesh! You poor husband is a lucky man. |
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These are very typical of the issues you have when a service goes live, especially when external events force your timing. I bet these will all be sorted out within a week at most.
We have been running for awhile and have processed thousands upon thousands of accounts with out any major issues. The PDF and email issue is very new to me and we have not be alerted to it until this post by any client. Same for the PDF issue. Regards Chris Don't worry, Chris. If you address these issues, you'll likely find that Ergo will change the name of this thread. He's a completely different kind of person to the ones that attacked you in other threads. And if it makes Paxum more secure and user friendly in the future, that can only be good, right? |
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Now THIS is useful information... perhaps the Paxum reps can chime in and/or do something about it.
For the record, I also tried to verify my Paxum account today. I sent a scanned image and was told it was unacceptable. To my eyes it was perfectly fine.
But I guess if they make it hard enough, we'll go elsewhere.
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I think part of the Dwolla selling point was also the fact that the transactions were deemed irreversible... as it turns out, that wasn't the case.
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I posted proof that PaxumRuthwas outted an ePassporte person in another forum in December 2010.
Zero disputing it.
A Mod removed my link and pic.
I actually saw the pic before it was removed, it proved no such thing. It only showed someone called Ruth saying it was possible to retrieve funds from epassporte for a fee. It was isolated, out of context, and there are at least three or four ways in which the statements made by that Ruth (which might or might not be the same Ruth) could be interpreted without in any way implying that she is an "ePassporte person". Not the kind of proof that would fly with anyone, in my opinion. It may well be that Paxum and ePassporte are one and the same, but so far I have not seen anything to indicate it. And the nature of the attacks has been underhanded to say the least, reflecting much more poorly on you and Aurum than on the Paxum reps. So if you are right and there is something about them that isn't kosher, you have done us all a disservice by going about it in such a sly, underhanded and unintelligent way. It would have been much more helpful for you to present your evidence earlier, in full and without the stupid intrigue. |
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You probably meant vicious and wary, not viscous and weary... and yes, you did attack, pretty head on and with a definite air of superiority. Only after it became clear that you lacked the most basic proof for your assertions did you back down into a "time will tell" position.
Viscous indeed :-)
I apologize for the errors in spelling. English is my second language. Apparently it is also an amusing trait to make fun of ESL people in this forum. I never attacked Clipse. To my understanding, he is not related to Paxum. I questioned Paxum as a company and still question them. If anybody was attacked in my posts was Chris Mallick who is a known scammer. I did not personally attack anybody involved in the discussion. Si quieres podemos continuar esta conversacion en español... English is also MY second language! And it isn't a trait at all to attack ESL people in this forum. But you will find, when dealing with a group of independent-minded people like the Bitcoin community, that your allegations better have a solid enough base. You went on the attack here, you got pushed back and lost... give it up. Next time you decide it's a good idea to go on the attack, better have your ducks in a row. |
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You have successfully discredited your business name in this thread by producing false accusations against your competitor. Good luck picking up more business after this thread.
I seriously doubt that, but ok. Like I said on my previous thread, let's nature run its course. Time will prove me wrong or right. Off this thread now! I have a bunch of exchanges pending. This logic is similar to that of the bible predictions and the nostrodamus followers. It is flawed beyond any reasonable sanity. Uhhhh what? How is saying "time will prove me wrong or right" flawed beyond any reasonable sanity? Please do elaborate? Damn I really hoped you were more intellectually inclined to understand this statement. I will babystep it for you. Making a call on someones credibility and then backing yourself with "time will prove me wrong or right" is a pure cherry picking tactic. You are right now making the statement that you are right(afterall you kept hammering on about having facts) however you then also claim that in time you may be wrong. This alone shows just how much you believe in your own judgement of evidence, since you cant 100% stand behind your own research but gracefully proclaim over and over how sure you are about Paxum and their so-called eventual wrong-doing. To give you an example: 2012 bible researchers are 100% sure now that they have all the evidence that 2012 will be the end of the world. Come 2012 and the world doesnt end, they will simply get something new to back up the fact that they were wrong and had no evidence to begin with. This same logic was followed by the recent doomsday prediction Harold Camping and when it didnt happen he simply backtracked onto a new date. Effectively you assume that you are right and you would be right indefinitely if nothing goes wrong with Paxum(since there is still tomorrow and another tomorrow for something to go wrong) and you would be right if(eventually) something goes wrong with Paxum. You dont apply a date as to when in the future the cutoff would be for Paxum to fail, so you are free roaming any possible eventuality that may occur. This is a long explaination but in short it comes down to: You sir, are a crazy person. I really don't understand why the name calling and personal attacks when I have never attacked you or anybody on this forum. Like somebody said on this thread, I am putting my business name out there to do a service to bitcoin users from my believe that Paxum is a questionable company at best, however, I get viscously attacked and I still fail to grasp why. The fact remains that, at the very least, Paxum employed one person that was involved with epassporte. Paxum claims they hired this person for their experience, however, if you are in the payment processing industry, you would have to know better than hiring this person no matter how much "experience" they have. Thus, there is some factual information to be at the very least, somewhat weary of this company. In addition, there is a whole slew of "anecdotical" information (if you want to call it that) that makes me very weary of this company. I was faced with the argument that my opinion is akin to saying that if somebody dreamed I rape goats, it must be true. I also still fail to see how this compare to "world end" predictions. I was also accused of having an agenda against TradeHill because of my partnership with MtGox. MtGox now accepts Paxum, so that should clear that up. I was also accused of lying to discredit competition. By their own post on this thread, Paxum stated that they are an EWALLET PAYMENT SERVICE. We are an electronic currency exchange service, so I fail to see that as well. That would be akin to saying that Liberty Reserve is our competition. If anything, we welcome honest e-currency providers and payment processors since they are our bread and butter. It seems that when all logic and reason fail, some people must immediately resort to personal attacks, questioning intellectual abilities, calling names, and making childish jokes about goat raping. On this post here: Re: Mt.Gox/AurumXchange Partnership - European Transfers Now Available Dated July 22nd, I said "It is really fortunate that Tradehill can offer free SEPA, but if they reach a volume of a few million € a week, they will quickly learn what we did before bitcoin was even a thought ." Today I learned that TradeHill cannot execute SEPA transfers anymore. See, my comments and predictions related to this industry stem from experience, and are design to try to help and educate the people in the bitcoin industry with my past experiences, and are not based on some religious superstition. There is nothing wrong with saying "time will tell". There is, however, something wrong with certain members of a community that cannot discuss a topic without personal attacks and unwarranted condescension. Roberto You probably meant vicious and wary, not viscous and weary... and yes, you did attack, pretty head on and with a definite air of superiority. Only after it became clear that you lacked the most basic proof for your assertions did you back down into a "time will tell" position. Viscous indeed :-) |
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I could destroy bitcoins in 20 seconds flat if I was the US government. Doing nothing illegal... and I could wipe out the currency in literally 6 weeks with about 3 - 5 million bucks..
3 backroom deals with mt. gox, tradehill and dwolla ... 1-2 million each for 51% ownership of each.... and any startup that get's a decent volume.. make a similar deal... that would stop trading pretty quick... the owners would like the payout (which is huge to them, tiny to a country that takes in a few trillion a year in revenue) so they have no incentive to hide their shit... and the US government effectively would be in full control of bitcoins.. all without even passing a law.
You're joking right? Bitcoin doesn't need the TradeHill, Gox, Dwolla. They could all fuck off right now and within a month things would be back to normal. You're assuming those 3 sites ARE Bitcoin. They're not. Bitcoin is a currency, and it's about those people using it as a currency. It's like saying getting rid of ISOhunt, Pirbatebay and Torrentz would put a stop to pirating. *lol* TradeHill only exists on the level it does now because Gox was hacked and down for 2 weeks. So what happens if all 3 of those places disappear? More pop up. Those get "bought out", more pop up. People will just make exchanges (someone will open source it) just to get bought up! Compare it to pirating. Why doesn't the govt just buy all the torrent sites? Could probably get the top 500 torrent sites for maybe 100 million. Problem solved right? Pirating is costing billions if you listen to the music industry. Why don't they just buy up all the torrent sites! Genius! Agreed... Bitcoin is the elegant idea... MtGox, Tradehill, Dwolla and, for that matter, US dollars, Canadian dollars, Euros and GBPs are but a means to an end. |
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This will be good, if done properly.
I've thought about the same thing. Bitcoin really needs to be facilitated. I'd really like if you wrote more about your security means.
I agree, this could be good... I'm watching this thread closely. |
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