 The Bear Dance |
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 Captions on a postcard to Memespeculation |
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An update requested from James as mining becomes less of an option, but the funds invested have been profitably traded and investors were at the least guaranteed to get their BTC back, now the USD value has fallen so much then maybe this would be a good time to honor that pledge.
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I am curious about long term scenarios. We all know about 21 mil max bitcoins. However, if and when COIN or BIT will start trading, what would prevent Wall Street to multiply the number of supposedly strictly restricted number of units 10 or 100 fold? Nobody ever challenged GLD ETF to show that they actually own the amount of gold they supposed to have. Brokerages already using hypothecation for stocks, which together with other techniques in case of heavily shorted stocks is rumored to vastly increase the number of shares for some companies. On the other hand, Bill Gates could sneeze in the morning and "accidentally" use one-one and a half day worth of his dividends and bitcoin will be above $1000  . It's impossible. There is more GLD ETF then ever has been mined. GLD in its fine print says that they will settle accounts in cash if it comes to that. It is fraud sanctioned by the US government. It keeps the price artificially suppressed so their fiat lives on. There is no audit trail. It is kabuki theater. The only ETF that I know of that has audited gold with serial numbers is Sprott Physical Gold Trust (PHYS). Same thing with silver. SLV is a fraud. PSLV is legit. If so, the same nonsense might be repeated with COIN. It should be trivial to provide blockchain verifiable evidence of holdings in realtime. In fact I expect this before I send them a penny from my tax free stocks wrapper. it should be trivial to document gold holdings as well. Perhaps you know this, but Joe public does not have the knowledge to check the blockchain to verify. Even for an expert, it would take a while, and they will say that it is proprietary info. Well some exchanges reveal their holdings in a blockchain verifiable way. The same will i am sure be true of COIN. You think a major investor is going to send them millions of dollars and just accept that they have the coins without proof? Lol. It is totally different from gold. This is a cryptographically verifiable non counterfeitable digital token - much cooler What BTC ETFs like COIN and other BTC investment funds need to do is to guarantee and show allocated coins, every client's holding is stored on their own individual publicly published and viewable address, rather than pooled in the total holdings account as happens on exchanges, this is like the best practice of PM funds like www.bullionvault.com except miles better as anyone can instantly see and prove that the funds are actually allocated to the clients rather than just take the business's and auditor's word for it. |
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Q: The question is, what are the tell tail signs of a bottom?  A: When it starts mooning at you.   |
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 storming the barricades |
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Bitcoin Zodiac forecast for the week ahead, Saturday 4th October 2014No matter how you look at a certain situation, you cannot see much to celebrate within it. Some things seem harsh, unfair and impossible. How can there be hope for tomorrow when so much seems so hopeless? I cannot promise an instant miracle today, but I can assure you that a particular tale is far from fully told. Before the week is over you will have good reason to change the way you feel about a matter that has lately been of great concern to you. This week contains much more hope than you yet realise.
& in generalYou'll be pleased to hear that this week's Full Moon is not one of those 'Supermoons' that we have been having lately. The Moon is not unusually close to Earth. So we can't blame particularly strong emotional upheaval on that. Instead, we can blame it on the powerful Lunar Eclipse! Even those of us who aren't in a place from which the eclipse can be viewed may well have the classic eclipse experience. First, it will seem as if something is falling apart. Then (after a phase of angst and tension) things will turn out to be okay after all! AlsoI must ask farmer Tim if he'll start accepting bitcoins, 1 BTC for a cool final resting shelf sounds good and one could entomb the private keys too if one choose. http://i.dailymail.co.uk/i/pix/2014/09/29/1412026597581_wps_1_Farmer_Tim_Daw_with_the_n.jpghttp://i.dailymail.co.uk/i/pix/2014/09/29/1412026616093_wps_2_One_of_the_five_chambers_.jpghttp://www.dailymail.co.uk/news/article-2774268/Yours-400-eternal-rest-Stone-Age-tomb-newly-built-Wiltshire-field-farmer-called-Tim.html
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   Mark Hale - California - http://bitcoin-jet.comL-39 fighter pilot training aircraft. It was made during the cold war in Czechoslovakia. There are probably a hundred or even many more flying around the world. Most are privately owned. They have sold for between $150,000 and $1 million+ in the last few years, depending upon the condition of the engines and electronic equipment inside and other details. Probably $350-500,000 (~1000 Bitcoin). From: https://www.reddit.com/r/Bitcoin/comments/2gzzae/crosspost_from_pics_not_sure_why_it_isnt_hereN-number : N139ES Aircraft Serial Number : 031624 Aircraft Manufacturer : AERO VODOCHODY Model : L39C Engine Manufacturer : IVCHENKO Model : AI-25TL Aircraft Year : 1980 Owner Name : HALE MARK Owner Address : XXXXXXXXX SAN JOSE, CA, 951123271 Type of Owner : Individual Registration Date : 14-Sep-2012 Airworthiness Certificate Type : Experimental Approved Operations : Exhibition |
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Their UK bank 'Capital Account' have stopped all Bitcoin business, so no more UK Faster Payments  Customers are still able to deposit via Faster Payments until next Wednesday the 24th of September, Faster Payments withdrawals will be processed until Friday the 10th of October. Capital Treasury Services, the Isle of Man based regulated financial institution offering clearing services to Coinfloor and other Bitcoin companies, has been compelled to withdraw support for cryptocurrency businesses. They emailed customers and I expect that they'll put it up on their blog soon as well: http://blog.coinfloor.co.uk |
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My second CoinFloor GBP deposit, BTC purchase & withdrawal yesterday, again all went very smoothly.
Also today they announced:
New Deposit Options
We have received strong feedback regarding our minimum Sterling deposit amount of £500 for Faster Payments, which prevented new users from making small "test deposits" to Capital Account. We are glad that our customers are cautious with their money and want their exchanges to prove trustworthiness before engaging with them on a more day-to-day basis. Today we are removing the £500 minimum amount, to accept "test deposits" and support this approach.
All deposits of £500 and above remain free from charge. For deposits below £500 we are instituting a £10 processing fee which is incurred by us and our treasury services provider for processing smaller payments. For deposits of £500 and above we will continue to cover the processing costs for our customers.
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Super cool plates! There is also one in Washington.  Ah, great! Adding Washington to the OP. |
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Have people actually made these charts for different locations? I mean we should at least consider Tokyo or some other 'probable' capital as the birthplace of Bitcoin Although it's a bad sign if the speculation forum starts to rely on astrology... (I know the initial post is already 2 years old) You will find the charts for Dublin, London and Tokyo in the OP. |
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