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1  Economy / Services / Need anonymous hosting on: June 15, 2013, 10:17:28 PM
I need anonymous hosting. Every single hosting provider I have tried that accepts bitcoins flags me for possible fraud for registering an address after connecting to their site through a proxy server. I just want to show up, register a domain name, get some hosting, and send my bitcoins to an address. Nothing illegal being hosted. Anyone?
2  Other / Politics & Society / Re: The NSA Is Building the Country’s Biggest Spy Center (Watch What You Say) on: June 08, 2013, 06:19:46 PM
and recent leaks should let you know at least part of their capabilities.

Reminder. EFF accepts bitcoin donations.
3  Economy / Speculation / Re: "Sources said traders would have a hard time getting US dollars out of Mtgox" on: May 17, 2013, 05:28:35 PM
This is not an attack on bitcoin, this is an attack on Mt. Gox being non-compliant with KYC/AML/Registrations requirements. DHS has seized Mt. Gox assets. They are not going to seize wire transfers from Mt. Gox to customer accounts, nor are they going to seize the assets of compliant exchanges. This episode just reiterates that bitcoin exchanges need to follow the letter of the law or the hammer is going to come down. It's a shame, really, since Mt. Gox has the cash to spend a few dollars hiring decent lawyers to ensure compliance.

Not speculating, but do not take this as a given. The feds do not put customers first. They can certainly seize incoming wires to customers, specifically for noncompliance issues, and have. Just ask UseMyWallet or eWalletXpress users. Or Full Tilt Poker players.

+1111 on this. As a long time veteran of internet advantage gambling and poker playing I can say with some certainty that this smells exactly like a similar situation. (Still waiting for my Full Tilt remission...) Do NOT except the DOJ to care about safeguarding your money, do NOT expect that Mt Gox will be able to stay solvent once accounts are frozen, do NOT expect that you will get the full story from Mt Gox before you suffer losses, etc.

I do not expect this to hurt bitcoin as a whole, in fact the point of bitcoin is to be able to route around interference like this. But at this point, if you are holding money in Mt Gox when there are other well-capitalized exchanges (that granted, might also someday face similar attacks from countries, especially the US) and willfully ignoring the writing on the wall of a company that is in over their head (saying nothing about their intentions here, just that they seem to be technically and legally in dubious waters) then any losses you suffer are your fault.

Simply no reason not to shift bitcoins to a different exchange unless you are a daytrader that depends on as much liquidity as possible.
4  Economy / Speculation / Re: What is wrong with Mt. Gox? on: April 16, 2013, 11:57:05 PM
Kind of, only Gox has had multiple years and many millions of dollars to deal with the problem and has been a continual source of frustration for the bitcoin community. Unfortunately, there just hasn't been any strong competition. Bitcoin is too new and too risky to attract major money for trading platform developers, has all sorts of complicated legal entanglements.

MT Gox has been extremely trustworthy (I do not think there is a chance in hell they are trading the spreads etc as some conspiracy theorists here claim, and scaling a trading platform and securing sites against all sorts of people who would LOVE to make money taking the site down (or cracking it open) is hard. No one claims that. But it is clear that because of lack of connections, poor hiring, lack of capital, or stinginess, they just have not made the necessary investments in people (not just coders, also PR people, support people) or in infrastructure proactively. They have been behind the curve since the beginning it seems, always run ito scaling and DDoS problems, getting them fixed and then being slammed by the next popularity wave and crashing again.

They have been good enough to get the job done or they wouldn't have such a large market share, but for whatever reason it seems they lack the skill to take it to the next level. I'm surprised they haven't been bought out yet actually. But again, so many complicated legal issues.

They also act as a convenient scapegoat sometimes, and to their credit, for all the abuse hurled their way, they have historically stayed pretty professional (except for one time I remember)

But I think they are where they are throug happenstance. right place right time. And they've just not matured into a real trading platform. Much of the innovative stuff that has happened has been implemented by others using their API...
5  Economy / Economics / Re: For now, bitcoin only suitable as a store of value on: April 16, 2013, 08:14:46 PM
I could play roulette 5 times putting my bet on red each time. This could win me a lot of money or lose me a lot of money or come close to even.

If I play roulette 5000 times putting my bet on red each time I will more closely get the result of being down 1-2% as the house advantage dictates.

If I buy and spend bitcoin every day/week for several years the result will be a slow climb as bitcoin is a depreciating currency.

So no, bitcoin is not only suitable as a store of value.

Yes, but how many people want to suck up the variance of 100% swings in a day just because they know they may make money long term? Even that is far far far from certain. Another cryptocurrency comes up, a blockchain fork occurs, etc etc etc.
6  Economy / Speculation / Re: People were willing to buy at $65 a few minutes ago.... on: April 16, 2013, 07:35:56 AM
I have lots of buy orders very close to being triggered, but I'm thinking of pulling them out. Thought it would be after weeks of bouncing around and sliding, not a steady ride straight down.  I honestly have 0 prediction whether this will go to 40s or to single digits, could be either at this point. Almost a half million bitcoins traded much volume on the downside...
7  Economy / Speculation / Re: what are the chances that bitcoin will double in value in the next few weeks??? on: April 16, 2013, 05:30:52 AM
Well to be honest, 100% swings in a day are TERRIBLE for a means of exchange. Price stability is very important for exchange. If you can't even worry about buying or selling because you are worried that your bitcoins will change in value in a day or week it is bad news. I dont think bitcoins primary function is a store of value, so that doesn't bother me. I would much rather have them stable and at $5 then swinging between $50 and $100 all the time.
8  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 15, 2013, 07:52:22 PM
Bitcoin has ruined me. I'm like what? 10% drop? Oh that happens everyday, nothing to worry about...
9  Economy / Speculation / Re: Recovery?? on: April 12, 2013, 07:34:02 PM
$80 is still ridiculously overbought IMHO. I'll start buying coins to hold if we go considerably lower. Until then I just buy them when I want to use them and use them.
10  Economy / Economics / Re: $55 - really? Really? Really? on: April 12, 2013, 04:10:07 PM
For the millionth time in these forums. The price of BTC has absolutely nothing to do with the price of mining. The difficulty will adjust towards making mining a break-even venture. The difficulty rate lags the price due to the time it takes to bring miners on and offline. The price is solely determined by supply and demand.

You contradicted yourself in your own post... Let me help you out...  In the PAST, the value of BTC has moved towards the point of making mining a break even venture as the difficulty level adjusts.  Like every broker will tell you though, past performance is no guarantee future results.  

Let me make this simpler for you, since you seem to be unable to understand basic things about how BTC works.

Let's say tomorrow the price of bitcoin falls to $10. Mining will be unprofitable at the current difficulty rate.Miners will come offline, the difficulty rate will fall, and it will tend towards making mining profitable for those with cheap power and/or large economies of scale. Overall, with a lag, the ROI of mining will tend towards the same point.

Let's say tomorrow a new type of processor is discovered that violates Moore's Law and makes mining super cheap. More miners come online. The difficulty rises, tends to make mining reach the same break even point, but has little-to-effect on the price/. Overall, with a lag, the ROI of mining will tend towards the same point.

To the extent that miners are "forced" to sell for fiat to buy new equipment or that they "sell for fiat" when mining is profitable but "hold" when it is unprofitable, sure mining effects the the supply and demand for bitcoin, but the overall supply and demand pretty much makes what miners are doing irrelevant, as miners are not some homogenous group doing the same thing anyway. Some are holding bitcoin, some trade for fiat daily, etc with.

Mining prices don't even affect the price of precious metals all that much, and there's no automatically adjusting difficulty rate for getting gold out of the ground. Bitcoins are extracted at a predictablew rate, no matter how many resources are thrown at it. Because of the difficulty algorithm, mining cost is simply a lagging indicator of price, not a driver of it.
11  Economy / Speculation / Re: Guys, relax. This up down volatility is all 100% perfectly normal on: April 12, 2013, 03:39:26 PM
As a tool for exchange, it doesn't matter what price BTC are at, the most important think is stability. Imagine trying to be TSR which hedges BTC against fiat these past two weeks. On the other hand, it is clear more people are using bitcoin to try and store value and/or speculate, in which case the price rise is good/.

Nevertheless, people should forget about the run up to $XXX, it was never sustainable. Look at things in about 90day moving averages and get a better picture, the rest is noise.

Everyone saying that major money is about to move into bitcoin (some of it already has of course, look at the Winklevosses) is silly though. Even the highest flying most gambling traders aren't going to touch a smallish manipulated market, with only one exchange that can declare trading freezes whenever it wants. that is seeing 100% swings a day

Keep calm and carry on, I think most of us now that it's not bitcoin that will eventually be used anyway, it's something that will come out of bitcoin or be built on top of bitcoin. At the moment the infrastructure of this currency is still in alpha stages, nowhere near ready for average person to start using it. Christ, we just had a blockchain split less than a month ago, it was handled well, but that shit can't happen when BTC are worth $100+!
12  Economy / Speculation / Re: is gox starting back up? on: April 12, 2013, 05:34:53 AM
They are still down. They dont even have a redirect page up. They havent posted anything on twitter in over an hour. Complete amateurs.
13  Other / Off-topic / Hello? Hello? on: April 12, 2013, 04:47:08 AM
Why the fuck does Mt Gox start all their tweets with


That shit tilts me.
14  Economy / Economics / Re: $55 - really? Really? Really? on: April 12, 2013, 04:42:54 AM
For the millionth time in these forums. The price of BTC has absolutely nothing to do with the price of mining. The difficulty will adjust towards making mining a break-even venture. The difficulty rate lags the price due to the time it takes to bring miners on and offline. The price is solely determined by supply and demand.
15  Bitcoin / Bitcoin Discussion / Re: BTC exchanges must tap the minds of community for ideas on preventing DDOS/manip on: April 12, 2013, 04:39:55 AM
At the moment they could implement temporary higher trading limits (even up to .1BTC), get rid of their APIs temporarily, and implement some sort of verify/captcha front-end step. That would solve the problem enough to trade I believe.

16  Economy / Speculation / Re: 60k volume right at the time Mt Gox pulled offline WTF??? on: April 12, 2013, 04:24:04 AM
unlikely panic selling, most bitcoin buyers and sellers are asleep at the moment. DDoS maybe, but withstanding DDoS attacks is simply not that hard.
17  Economy / Speculation / Re: Mtgox trading engine lag: 434.32s At least not 4000 on: April 12, 2013, 04:22:33 AM
Why is the only trading platform still the one that people have been complaining about for over two years?!

Because the alternatives aren't up to scratch.

Not true, Camp BX has been better than Mt Gox since the first day it opened. Except a bit illiquid, same as all the smaller exchanges.

Gox hasn't even implemented things like trailing stop loss orders etc, much less margin trading.
18  Economy / Speculation / Re: Mtgox trading engine lag: 434.32s At least not 4000 on: April 12, 2013, 03:27:18 AM
Why is the only trading platform still the one that people have been complaining about for over two years?!
19  Economy / Speculation / Re: Why is there so little arbitrage / such high disparity between exchanges? on: April 12, 2013, 12:59:28 AM
arbitrage opportunities always an only occur for the same reason. illiquidity. There's not a ton of activity on any other exchanges.
20  Economy / Speculation / Re: How will you react at 02:00 UTC? on: April 12, 2013, 12:57:33 AM
I predict we'll have sub $50 coins within the next 24 hours.

I still think that the non-bubble price of bitcoin based on a reasonable amount of transaction activity and hoarding is probably somewhere between $7-$15. Add on a little hype tax, and I'd start buying coins again to hold at $20. I buy coins to use at any price though.
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