Leverage created more of a problem in the Swiss Franc situation though. Since a big move in conventional FOREX markets is a couple of percentage POINTS, i.e. fractions of a percent, the leverage allowed is huge, like 30x or so, whereas in bitcoin markets leverage is available but much smaller. I think BTCe only offers 4x leverage, so when BTC drops 30%, you get an effective 120% disparity to cover, but when swiss franc moves 10% with 30x leverage, it's a 300% loss to cover for some. And since national currencies are considered very low volatility, and the swiss franc "as good as gold" there were hundreds of millions parked in it, with the expectation that the risk profile was low, then shorting it was only considered maybe medium risk... so your medium risk investment, of your many millions, suddenly ends up with a 300% margin call.... that is not a good day.
You are missing one point 1 BTC = 215 USD 1 CHF ( swiss franc ) = 1.16 USD so the 30% drop or increase it's really BIG compared with eachother, so bitcoin is a LOT more volatile than any other currency. You're missing the point that 10% variation in the Swiss franc did a lot more "damage" than 30% swing in bitcoin, due to one being expected to be volatile and the other not. In effect, maximum losses on 30% swing of BTC were ~120%, maximum losses on Swiss Franc were ~300%. IF you're going to point to which one is worse for business, look at the bigger amount of "damage" because export and import firms hedge against exchange variations, and if hedging has snowballed like that and cost them most of their profit for the year, it's baaad mmmkay. How can you compare a shit like Bitcoin with Swiss franc? hahaha Bitcoin = up to 1 MIL users, half of them are on this forum  ) How can someone compare a real economy with a shit bubble Bitcoin? you must be...pffff Bitcoin has nothing to do with any economy. Bitcoin is based on black market and speculators. There is no Bitcoin economy. You remember me of PicPay retards who said the same things as you. Picpay economy, Picpay to the moon LOL... hahaha Many of you were not born in 2003 when PicPay was on wave. Same mentality as on this forum. Btw, they had a forum too where everybody made plans how rich will be soon LOL |
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Yes, free to discuss. Cloud mining = ponzi If they have the spare capacity... Why aren't "they" mining with it and they want to "share"? Clearly, it's more profitable for them to "rent"(scam) you the capacity than to mine themselves. Nonsense claims but nonetheless I will address them. Cloud mining companies (legitimate ones like BIT-X and amhash) rent capacity to provide mining facilities to the average bitcoin user and to receive upfront return on their investment to provide these services. Users who mine can and will ROI. Just like ASIC miner manufacturers, why bother selling their equipment? They want to provide mining services to any user as well as receive an upfront investment return. BIT-X.com has had their partnership with BitFury confirmed. ask how much money is expected to generate a "miner" in 24 hours considering the fact the Bitcoin price is falling. Also, many people would love to see their data center Again, Cloud mining = ponzi. It doesn't matter what they say or present to you or how fancy/trendy is their website |
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where does CoinBase have the bank account?
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If it's a true ponzi where bitcoin is worth nothing (like what you implicated), the network would have collapse years ago and not survive so long until today. And that's a fact. Period.
wrong. a bubble can take as long as new fools are still coming. without the new comers, there is no bubble and everything is going down. Bitcoin still has a black market(hackers, drugs, child porn, fake ids, stolen credit cards and so on). This is what it sustains the Bitcoin. |
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If you believe that, then you are but a fucking fool who wastes his time commenting about fools.
it's funny and better than watching TV |
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The price is the price, no-one as a singular is in control of the Bitcoin market.
and who is making this price? |
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Everyone needs to calm down, it's pretty clear the OP has some mental health issues which is shown by the fact that he really believes everything is out to ruin him. Lol, get help OP.
some people from here are not related with BTC (they are writing to have fun) that's why they may have a clear vision about what Bitcoin is . what if you some mental health issues and you don't know? it is a possibility. |
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I can think of no money that can't be hacked easily. Bitcoin may have different risk factors but it can be stolen just as easily as any other money. It's not security that makes bitcoin better but there are security aspects of bitcoin that other currencies can't enjoy as readily. But it can all be obfuscated at any time by a myriad of 'forks' bitcoin could take.
being "open source" is much more vulnerable than any other centralized e-currency. |
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Tell it like it is...
bitcoin? pffff, no value in the real world unless someone is willing to exchange it for fiat dollars...
Virtual real estate? ahhhhhh now that sounds like something worth speculating on
buy low - sell high
Unlike real world real estate. if things go wrong? at least you will still have the land to live on...
Anyone want to buy my property in world of warcraft?
I think my bitcoin fanatics had properties in Second Life too and they paid with Linden dollars |
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SA Goons really come out of the woodwork during a price drop, don't they? Someone should do a study of the amount of crap posts from new accounts relative to price swings.
If we had some kind of fund where we could go long on idiotic n00b posts, we could stabilise price with it  being "old" on a forum, it doesn't mean that you know everything, grandpa |
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~1 month before the first major troll invasion.
1. Your funds are not safe neither in "cold storage". 2. trolling trolling trolling bubble like Bitcoin..otherwise the bubble cannot grow. it will remain a little bubble..troll troll troll lol...irony much? be honest. Did you use linden dollars as well ? I think you are one of those who spend fortunes in "Second Life" |
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this isnt funny this is my life savings here and i dont want you to fuck it up for me its all your fault
No, it's not all our fault. It's all your fault. What were you thinking putting your life savings into something a market cap of only $5 billion? You fucked it up yourself, and until you take some responsibility for your decisions instead of blaming unrelated people, you'll just keep on fucking up until you've lost everything. Don't let the door hit you on your way out. It's so funny when you read the so called Bitcoin capitalization : over 2,5 billions USD not 5... be correct Capitalization means that 2.5 billions USD really exists "somewhere". That many people came with their fiat currency and they bought Bitcoin shares lol . Where are the money? Of course, they do not exist at a such level (2,5 billions) and they will never exist. The share price is in relation to earnings and net assets that determines the price if a stock is over or undervalued. Shares represent a fraction of ownership in a business. Now, is BTC like any other commodity or is it a company? If it is a company.... then each people who buy 1 BTC is shareholder and it must earn a part of the BTC profit. where is the "profit" ? Shares represent a fraction of ownership in a business. You see how stupid is this system? OK. You will tell that BTC is a currency. A currency is regulated by a central authority in order to prevent any scams/abuses. Who does regulate Bitcoin, exchangers in order to protect the people? |
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1) Bitcoins:
Properly protected BTC cannot be hacked or stolen from you. It is a modern miracle and one of the most secure possessions you can ever have.
2) Genuine enthusiasm:
I arrived here (in 2011) ~1 month before the first major troll invasion. This community was a paradise of quality discussion, debates, active projects, and tons of optimism. I remember people sharing stories about lack of sleep due to wanting to read, learn, and experience the next developments in Bitcoin's exciting adventure.
Genuine enthusiasm can never be stolen from you, but too often we surrender to the general darkness which seems to be almost everywhere.
Is the future still bright?
Do you remember the last time you were really excited about the Bitcoin project?
...or anything at all?
1. Your funds are not safe neither in "cold storage". Read: http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/many of you says: "cold storage is the best". well. it is not. that explains many hacks in Bitcoin which some of the bitcoiners considered to be very safe. 2. the genuine enthusiasm is necessary when you deal with a bubble like Bitcoin..otherwise the bubble cannot grow. it will remain a little bubble 1. Do NOT misinform people with half news. Ivan Pustogarov, a researcher at the University of Luxembourg's cryptology research group, said an attempt to smuggle compromised ECDSA code into a popular open-source wallet, for example, would be discovered by the public.
"In open-source [software] on a large scale ... The code will be analysed at some point in time and the malicious implementation detected," he said. Unless you are carrying compromised ECDSA, which is almost impossible if you use an open source wallet like Bitcoin core, your coins are secure. 2. History has proven it multiple times... 1. these is the news as it is. not half : "Even if the manufacturer (https://bitcoin.org/) claims that it runs open-source code, how do you tell whether it is actually running what you compiled....... some pieces of open-source code are so large and complex that even a dedicated community of developers may not detect a malicious addition."?" Verbücheln said. Please read the whole demonstration carefully and with your brain not with something else 2. what history? bitcoin = 6 years = aprox 500.000 active users. you're right. Bitcoin will be history soon |
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What a bunch of losers, you bitcoiners are no better than the fiat bankers who print money out of thin air...
It only takes one failure to prove the whole bitcoin industry is a hoax, and there have been plenty of failures...
The only interested parties in bitcoin are pirates. crackheads and mafia not to mention the weak economies that allow you crackheads to get away with it...
You make me wanna puke
We need more time, you cant expect bitcoin is going to unfuck what has been fucked for centuries. Calm down and hold or sell and move on. Bitcoin lost credibility as soon it went into Forex - now it is treated the same as all the other currencies - you can't unfuck that... how else to attract the fools? you have to feed them with illusions(easy money) and you have to pose as being something "complicated", a broker, forex shit. |
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I think one thing that may case to bitcoin, I read Some where that BTC can be used for feeding Terrorist and other Illegal ways like black money transfer, laundering money etc. People can send their Black money any where with out being located.
~ OTS ~
That's correct. These are real facts not only rumors. Care to share at least one of these facts where bitcoin was used to sponsor terrorist? I'm not talking about some guy speculating that bitcoin could be used for such, I'm talking about confirmed facts. Thanks in advance yes: https://alkhilafaharidat.wordpress.com/ |
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1) Bitcoins:
Properly protected BTC cannot be hacked or stolen from you. It is a modern miracle and one of the most secure possessions you can ever have.
2) Genuine enthusiasm:
I arrived here (in 2011) ~1 month before the first major troll invasion. This community was a paradise of quality discussion, debates, active projects, and tons of optimism. I remember people sharing stories about lack of sleep due to wanting to read, learn, and experience the next developments in Bitcoin's exciting adventure.
Genuine enthusiasm can never be stolen from you, but too often we surrender to the general darkness which seems to be almost everywhere.
Is the future still bright?
Do you remember the last time you were really excited about the Bitcoin project?
...or anything at all?
1. Your funds are not safe neither in "cold storage". Read: http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/many of you says: "cold storage is the best". well. it is not. that explains many hacks in Bitcoin which some of the bitcoiners considered to be very safe. 2. the genuine enthusiasm is necessary when you deal with a bubble like Bitcoin..otherwise the bubble cannot grow. it will remain a little bubble |
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I agree with you.
I was gonna ask the same question.
But the thing is that many people buy it...
well, this is not a problem that these are ponzies. many people like to play...it's ok. you can "bet" some money and it is possible to earn something if you are in the first ones who "play". the last ones will always lose. it's the ponzi rule. the problem is when these so called cloud mining "companies" are advertising as being "corporation" with huge data centers. At least, they have to admit what they really are and I am sure many people will still play Look some HYIPs (ponzi) who admit what they are and they have tons of clients http://finefxgt.net/home.phphttps://phenixpro.com/index.phphttps://trend-og.com/ |
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do you think hashnest will do the same thing?
hashnest will be closed in max 2-3 weeks for now. they are a ponzi. wait I thought they were by antminer or bitmain or some shit. call it as you want, the chinesse HYIPs(ponzi). the cloud mining is a ponzi scheme. it is ok to play (even it is a ponzi) if you want but be careful how much you bet. that's all. |
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Bitcoins are fluffy and yummy!
yes, many stupids are still eating the shit called Bitcoin but very soon it will collapse. Anyway, this gang made tons of money till now and they can easily spend the rest of their live on their own islands |
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A year or so ago, I remember bitcoin being above $1000, the Guardian ran many positive stories. It seemed every day bitcoin had a positive spin - bitcoin million dollar thumbdrive found, bitcoin beer sold, bitcoin hoarded by Chinese. I mentioned the obvious fact - that bitcoin was a (pointlessly) elaborate Ponzi scheme, whose obfuscations and complexities only served to mask the extremely obvious truth - the vast majority of bitcoin is valued 1 cent or lower, and the only job of the founders (Ponzi leaders) is to in entice new users (dumb money) into the bottom of the Ponzi pyramid. It does't matter at what point the dumb money came in - $1 or $1000, to the tip of the pyramid it's pure profit, even if they manage to liquidate only a few bitcoin to actual money (a difficult task even in the most stable periods) they would reap pure profit and the dumb money would instantly (I mean instantly) become permanent bagholders (once a ponzi begins unraveling, the momentum is always down). When I pointed out the simple truth (truth is always simple, unlike fraudulent bitcoin) of the ponzi scheme, I was shouted down by waves of scheming pump boilers. They all came out of the woodwork at once. "You don't understand X" "The protocol means Y" "Satoshi and Ayn Rand told me Z" on and on and on. Wow, I was shocked, I'd never seen such coordinated efforts to boil up a price. I only hope that those guys were near the original buy in, otherwise they became suicidally trapped bagholders. $300? $500? $1200? Who knows the depth of their ruination. Moral of the story - to the founders, congratulations, you defrauded, and continue to defraud, tens of thousands of people who I'm sure thought they were very clever and ahead of the game (usually the dumbest people in the room). And to the bagholders - I won't say it's not too late, because at this point liquidating any bitcoin volume in any meaningful significance will lock up the remaining "market" and lead to an instant crash or more likely simply the termination of "market" function in totality. But you can resolve today to put your savings in actual assets valued in actual money, money backed by hundreds of trillions of physical assets, enforcement agencies, and transparent, fraud resisting systems that are continuously improved day by day. You've been victimized, but you can learn from your mistakes and make sure other friends and family are not defrauded by cyber criminals and ponzi pumpers. Cheers!  great point. same as mine explained over and over again here I read here about people who lost their jobs, houses, families because they "played" in Bitcoin. Ruined lives whereof the Bitcoin media doesn't say any word (how else?!) and the others users are blinds/do not care. brainwashing ! |
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