1561
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Economy / Service Discussion / Re: BitStamp - Bank Blocks USD Deposits
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on: February 08, 2015, 05:16:16 PM
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BTCe FTW?
The intermediary bank of my bank refused sending money to BTCe since August last year. Are you sending the wire to BTc or to their payment processor bank account? Last time I checked BTCe had no bank account listed themselves. I always sent to Mayzus (sp?). so, Maysuz bank account has issues...
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1562
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Economy / Service Discussion / Re: Another MtGox happening right now in China! 500 mil.$ lost. Prepare for a crash!
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on: February 08, 2015, 05:14:43 PM
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"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse. The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange. Article in Chinese: http://hk.apple.nextmedia.com/news/art/20150208/19034053Google translation: WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […] EDIT: See also the reddit thread. One comment in there claims that the report is incorrect. If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever. With all the chinese money disappearing Bitcoin will probably crash to ~50$ according to financial bitcoin experts. 500 US$ million is more than 2 BTC million at actual price. I remember MtGox scammed only 850k BTC but at the price of the time it was 450 US$ million so quite similar in value. Not sure how to rate impact since MtGox affected more adopters than this Hong Kongese 'exchange' (it apparently affected only 30 people). 30 people with over 10 mil each lost but I am sure there are MANY others Bitstamp is losing its bank account, another exchange "hacked"...bad news for BTC
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1564
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Economy / Service Discussion / Re: BitStamp - Bank Blocks USD Deposits
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on: February 08, 2015, 02:18:19 PM
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Bitstamp has weathered some storms, so I wouldn't write them off just yet...where one stodgy old banker closes a door, a younger slicker smaller bank says c'mon down, we'll be happy to take your money...green is green.
In fact, small banks that truly "get it" are going to start realizing they would be better off using bitcoin to transfer funds between their own banks than the overly costly systems we have now (like ACH).
it is very hard to open a bank account for BTC exchanges.
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1565
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Economy / Service Discussion / Re: BitStamp - Bank Blocks USD Deposits
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on: February 08, 2015, 04:53:52 AM
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If solvency is your concern I would pay more attention to the withdraw side.
we will see many withdrawals from Bitstamp on Monday... Not true. People get fucked, then they get fucked again. It is like lambs going to slaughter. They never learn. Nearly everyone will be sitting there thinking: 'this time, everything will be OK - right?' And the next moment all their money is gone. Don't you remember how many warnings there were for Gox? Nobody moved. They were 'too big to fail'. Mt Gox was "giant" and it failed without any problem.
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1566
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Economy / Service Discussion / Re: BitStamp - Bank Blocks USD Deposits
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on: February 08, 2015, 02:55:16 AM
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If solvency is your concern I would pay more attention to the withdraw side.
we will see many withdrawals from Bitstamp on Monday... Not true. People get fucked, then they get fucked again. It is like lambs going to slaughter. They never learn. Nearly everyone will be sitting there thinking: 'this time, everything will be OK - right?' And the next moment all their money is gone. Don't you remember how many warnings there were for Gox? Nobody moved. then they will deserve to lose the funds
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1568
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Economy / Service Discussion / Re: BitStamp - Bank Blocks USD Deposits
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on: February 07, 2015, 10:38:21 PM
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What, banks randomly blocking USD transfers? Seems like USD is in big trouble. Or worse: USD IS HACKED!! Better panic sell all my dollars!
Banks are probably starting to ban Bitstamp coz they "know". Remember how it started with Gox, when "Dwolla" stepped out, and over the following months one bank after another stopped cooperating with them. Warning signs! I think the same. I wouldn't want to be in the Bitstamp's client skin now...
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1569
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Bitcoin / Bitcoin Discussion / Re: Chinese Bitcoin Mine That's Making $1.5M a Month
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on: February 07, 2015, 10:32:32 PM
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For folks saying their profit is lowering/no profit... For me, they seem to be doing good, they would have already shutdown if they weren't having HUGE profits As for maintenance... Well, 24/7 maintenance, what's better than that?! that movie is from August 2014 when the price was around of 450 Yes, but would it be published if they were closed? I find that odd... they didn't close yet. I am not sure how they are paying all the bills with the actual BTC price Exactly. They didn't close it. Yet So they're still in profit. you can maintain a company from "your" pockets for a while too. it doesn't need to have a profit. there are many companies who are on loss for years...
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1571
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Bitcoin / Bitcoin Discussion / Re: Chinese Bitcoin Mine That's Making $1.5M a Month
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on: February 07, 2015, 08:21:18 PM
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For folks saying their profit is lowering/no profit... For me, they seem to be doing good, they would have already shutdown if they weren't having HUGE profits As for maintenance... Well, 24/7 maintenance, what's better than that?! that movie is from August 2014 when the price was around of 450 Yes, but would it be published if they were closed? I find that odd... they didn't close yet. I am not sure how they are paying all the bills with the actual BTC price
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1573
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Bitcoin / Bitcoin Discussion / Re: Chinese Bitcoin Mine That's Making $1.5M a Month
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on: February 07, 2015, 08:04:30 PM
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For folks saying their profit is lowering/no profit... For me, they seem to be doing good, they would have already shutdown if they weren't having HUGE profits As for maintenance... Well, 24/7 maintenance, what's better than that?! that movie is from August 2014 when the price was around of 450
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1574
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Bitcoin / Bitcoin Discussion / Re: Chinese Bitcoin Mine That's Making $1.5M a Month
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on: February 07, 2015, 07:45:56 PM
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The amount of miners in just one facility is already huge, let alone 6. I wonder how would they keep up with the maintenance of so much devices. And the heat generated would be huge with the increasing difficulty and dipping prices, the chances of profit are lower now.
the profit is almost zero IF you have to pay the electricity. Do not forget that they have to buy NEW hardware every year.
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1576
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Bitcoin / Bitcoin Discussion / Re: Chinese Bitcoin Mine That's Making $1.5M a Month
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on: February 06, 2015, 10:53:54 PM
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Thanks to Vice we saw a bit of life in China, but the video is a bit confusing. In the intro they say that the mine generated 4050 BTC in November and the owner of the miner says that they generated ~100BTC per day which would equal to ~3kBTC per month. Either they run into a big loop of luck or something is wrong.
they lie, of course.
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1577
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Bitcoin / Bitcoin Discussion / Re: Bitcoin 20MB Fork
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on: February 06, 2015, 09:57:22 PM
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If we assume the fork is needed to maintain a healthy ecosystem; (and the math dose point in that direction) then how do we stop the blocks from filling up with spam and how do we maintain a network of independent miners if fees are going to drop below a single cent per transaction? And how on earth can we kill off the 1MB chain, because even if it takes the 1mb chain a year to recover it will still hold the true title of the "original Bitcoin" and that is 99% of why Bitcoin has rained as the supreme leader in a sea of alt-coins.
And I recommend the name of this thread be changed to "Bitcoin's 1GB to 20GB Fork" because its clear 20mb is the bear minimum requested by Gavin it was a compromise to get the ball rolling but he wants a lot more then 20MB.
a new BTC will raise in short time. Gavin and Co. will do it. You will have to choose then. it's so simple
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1580
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Bitcoin / Bitcoin Discussion / Re: interesting article - about Bitcoin gang
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on: February 06, 2015, 04:20:59 PM
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Of course everything is about money. Exchanger runners don't give a fuck, they are there to make profit.
agree with you. then let's do not say "Bitcoin community is something else". BTC community is about pure profit/quick money and all the other shits like "decentralization, freedom, no gov rules" are only for fools just to put more money into system
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