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Great stuff in here!
*smiles*
Ente
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Even better: Google "10 usd in euro", and you get 10 US dollars = 7.6505 euros and a chart above regular search results.. Of course this is nothing we could influence, Google would have to implement this. Or not? I fully agree, lets get "btc" way up there! How? Ente |
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That's it. I call 11.60 the bottom.
Better 2% realized profit than trying to catch the train when it already left off.
I'm all in now.
Too bad we never saw it crash down to around 7, 8..
Ente
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This time I don't have a leg to stand one. I (Bruno) take full responsibility for the inaction of Bitcoin 100, offering up no excuses. That said, if in 30 days we (mostly I) do not obtain a charity to accept Bitcoin as a payment option as outlined by Bitcoin 100 terms, then by all means all funds currently on deposit should be returned to those who've donated. CornedBeefHash, among others, have been more than patient in this regard. Somebody, please quote this post for posterity. Meanwhile, I have a letter to pen, for I have a charity in mind that just might add Bitcoin as a payment option to its donation page. Thank again, CBH, for bringing this back to the forefront. ~Bruno K~ I strongly disagree. We now have everything set up: Webpage, publicity on bitcointalk, donators, even our first success! Even if we don't find NGOs accepting Bitcoin donations in the speed we like to, any additional NGO found will help our cause. So even if it takes months for each additional NGO, I say lets do it! Noone here will be shouting if no immediate success is visible. For me, my small bitcoin pledge is a donation anyway. If, after years and years, we have no single success, we might discuss returning those single bitcoins. But now? Why introduce unneeded pressure now? On the contrary! We now have a much better situation than when the whole Bitcoin 100 started! When approaching NGOs, we can point to two high-level politicians accepting bitcoins for donations. The use and infrastructure around Bitcoin is stronger too! And, as a idea I got some time ago: How about we, you Bruno, join efforts with The Bitcoin Foundation? Writing as an official of TBF, or as being controlled/reviewed/authorized by TBF, or just as a member of TBF, will make the initial letter and Bitcoin in general look more reputable. I know about the pro-and-cons debates about TBF. I know that the whole idea of being "authorized" by TBF is laughable. I am just thinking that Bitcoin 100 and The Bitcoin Foundation have a lot of overlap and would profit from each other. And, as I am sure, have the same goals too. Ente |
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Unless it already exists somebody needs to set up a major bitcoin (secure) exchange in Istanbul. Canada is full of Iranian students who can't get any money from back home because there's no money transfer existing that can do it. Iranian parents could walk into a local currency changer, deposit cash and then said exchanger uses the Istanbul banks to transfer money into the exchange to get bitcoins. Then they can send them to their kid in Toronto who can cash out locally avoiding all the black market high fees and just pay the white market high fees  Most of these kids just looking for small $1-5k transactions nothing major Istanbul: Capital of Turkey Tehran: Capital of Iran The problem, of course, is how the Tehran' bank (account) gets bitcoins then. Exchanging Iranian Rial to USD seems to have horrible official exchange rates. If you want to exchange Rial to Bitcoin face-to-face, you need a working Bitcoin economy there. Just the same as "here", we are still a few steps away from that.. But then I don't know much about currency exchange and grey markets in such a situation. Surely you could buy gold for Rial, and exchange gold for bitcoins then. If the whole Iranian Bitcoin economy was centralized, with only one, two people dealing large Rial/gold/bitcoin sums, it would be possible to do. So, how is the current situation with US$ there? Ente Lot's of news articles on how banks in Turkey still deal with Iran, they don't believe in sanctions. In fact Iran has a load of banks operating in Turkey and their ATM system works there. Iran is also full of currency exchangers where everybody is changing their rials into USD and other currency to hold since Rials are quickly becoming worthless. Makes sense these exchanger houses can just sell bitcoins to be traded to overseas family members Though they are shutting down the currency traders again because they refuse to exchange using the government provided rate and instead use the market rate http://www.theglobeandmail.com/news/world/iranian-riot-police-storm-exchange-amid-currency-nosedive/article4584790/Whoops, sorry for implying you mixed up those cities then! :-) Interesting, thanks for sharing those insights! Istanbul Ankara FTFY  : Capital of Turkey Tehran: Capital of Iran Shame on me, thanks! :-) @ all such ideas: I think the biggest problem may be that nobody wants to buy Rials right now, because they become virtually worthless in no time! Charly Shrem made a quick comment to this issue during his latest interview session on adam VS the man: http://youtu.be/2BqpYbzZ3NI?t=32m5s Hmm, I don't think that's a problem. It is the market rate, after all! It is way below the official rate, but it is the rate where people are buying Rial for. And we can assume they get their few % on there too. Ente |
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can i get a wall picture
i have a feeling we'll be attempting a rally soon.
Just when volume is dropping again, overall direction is down and askwalls are rising? I still believe in some serious dive. Ente /500 |
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I was staring at the charts this morning and suddenly I saw it! But then it was gone.
Dang kids are always after me lucky charms. Lol We are almost to 100,000 views on the wall movement thread! CELEBRATE! When I am old I will tell my kids. ..and they will ask over and over again "the price was WHAT again?!?" :-) Ente |
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Unless it already exists somebody needs to set up a major bitcoin (secure) exchange in Istanbul. Canada is full of Iranian students who can't get any money from back home because there's no money transfer existing that can do it. Iranian parents could walk into a local currency changer, deposit cash and then said exchanger uses the Istanbul banks to transfer money into the exchange to get bitcoins. Then they can send them to their kid in Toronto who can cash out locally avoiding all the black market high fees and just pay the white market high fees Most of these kids just looking for small $1-5k transactions nothing major Istanbul: Capital of Turkey Tehran: Capital of Iran The problem, of course, is how the Tehran' bank (account) gets bitcoins then. Exchanging Iranian Rial to USD seems to have horrible official exchange rates. If you want to exchange Rial to Bitcoin face-to-face, you need a working Bitcoin economy there. Just the same as "here", we are still a few steps away from that.. But then I don't know much about currency exchange and grey markets in such a situation. Surely you could buy gold for Rial, and exchange gold for bitcoins then. If the whole Iranian Bitcoin economy was centralized, with only one, two people dealing large Rial/gold/bitcoin sums, it would be possible to do. So, how is the current situation with US$ there? Ente |
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Iranian people are muslims. For atheist like me they are OK as long as they identify themselves for Aryans. Read history books about Hitler and Iran! But don't post your wrong opinion about Iranian government. Without revolutionary government Iran will be another puppet state to jew zionist conspiracy.
I won't even try to interpret any sense into that. /ignore Ente |
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That's the most rational way to use them: I learned that at my expense.
Just because 90%+ of "investing" opportunities are scams or losing propositions, and anything on sale for BTC is overpriced.
It's just due to the black market that a BTC economy exists at all.
Uh, you're wrong on that. I'm new to bitcoins, and I can see an outside perspective on why the BTC economy is still here. And that reason is... Faith Faith that prices will go up and not down Faith that people will keep going Faith that they will get rich because more and more people pick it up Things are not that overpriced, they're a bit more expensive, but the loops to convert back to usd is a killer. Worse than PP fees, lol.. ..isn't that exactly why people use it as a "storage of wealth" or "speculation" instead of as a currency, i.e. for "real" economic stuff? Thank you for the link! Didn't figure it's *that* Adi Shamir guy, will immediately have to read his publication on the main forum! Ente |
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There has certainly been a slight downtrend since early in the month but it looks like it might have levelled off a bit. The next couple of weeks will be telling, I think.
"Couple of weeks"? I can't believe there will be that long stable periods in the near future.. This is Bitcoin, after all! :-) The only time I remember any stability (pricewise) at all was when bitcoinica and then later maybe pirate stabilized the price.. *waiting for the weekend* Ente |
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No mini-plunge tonight? Is he sold out?
How about we wreck that train all by ourselves? Lets dump what there is left to dump! I want to see a big, fat red flare going down! ----> 120 min <----Ente |
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"why the heck are people complaining about payb.tc now, instead of going after pirate/trendon?"
Because payb.tc insists that he, not pirate, owes us bitcoins. Since payb.tc refuses to disintermediate himself, responsibility for BitcoinMax losses is entirely his problem. Regardless of his intransigence, it's ridiculous for a (former) ponzi feeder fund operator to insist on having control over the wind down and clawback phases. Too many conflicts of interest (in both senses of the word "interest") and ignores the victims' needs for transparency, oversight, and simplicity. You have your point for sure. Although its not like pirate says "Do this, and this will happen. if you don't, instead that will happen". In fact I am slightly disappointed that he didn't serve another serving on the 12th.. Ente |
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Well.. Who didn't know the risk?
You want to argue that payb.tc knew more than the users investing through him? That he knowingly kept things secret?
The issue is not whether payb.tc ripped off the users investing through him. You are responding to an argument that nobody is making. Nah. He was scammed the same as his users. No idea why people are going after him now? Seems pretty ridiculous to me. Did you read the message you are responding to. I explained why people are going after him. The talk of giving him a scammer tag is not because he didn't do what he said he would do. The talk of giving him a scammer tag is because he paid Pirate to make his customers the recipient of fraudulent transfers. Essentially, the argument is that he knowingly (or in reckless disregard for the near certainty) paid Pirate to operate a scam. (You are welcome to disagree with this argument. I disagree with it. But you are not welcome to ignore it or misrepresent it, which is what it seems you are doing here.) You are right, I was not solely responding to your post. I should have taken more care to quote the stuff I respond to :-) It was more like a loud thinking à la "why the heck are people complaining about payb.tc now, instead of going after pirate/trendon?" Ente |
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Payb.tc's profits are irrelevant. He said he would pay 6.9% per week, and if Pirate defaulted, then he would also default. He stuck to his end of the deal. The talk of giving him a scammer tag is ridonkulous. This thread is 120 pages long. The first 90ish pages are post after post of people praising him for his interface and service. When Pirate folded, so did payb.tc, just like he promised. The talk of giving him a scammer tag is not because he didn't do what he said he would do. The talk of giving him a scammer tag is because he paid Pirate to make his customers the recipient of fraudulent transfers. Essentially, the argument is that he knowingly (or in reckless disregard for the near certainty) paid Pirate to operate a scam. Well.. Who didn't know the risk? You want to argue that payb.tc knew more than the users investing through him? That he knowingly kept things secret? Nah. He was scammed the same as his users. No idea why people are going after him now? Seems pretty ridiculous to me. Ente |
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Is there any possibility that (some of) PPT were actually acomplices in this whole pirate scam thing? I wonder if paybtc got some share of bitcoins. The lack of information and activity regarding this matter is very suspicious.
From the info the investigation turned up (and based on things that imsaguy and a few others said at the time) paybtc was getting more than 7%/Week (most likely 7.7%/Week). Ergo, from the size of the fund at collapse (~150k BTC) he was getting ~1k BTC per week of stolen funds from the ponzi scheme. He made some coins with his service, so did others. Does that make him a scammer ? He never made a promise he could not keep. It was very clear that if Pirate defaults all the coins are gone. Simple as that. Edit: Imsa and the "few others" should keep their mouth shut. Some were backing the real scammer long after it was clear that he fucked everybody over. Not to speak about their profit... He could only have made some coins on withdrawals. From how ponzis and humans in general work, I guess there were not many withdrawals to begin with. How exactly was his cut calculated? - What % interest did he receive from Pirate? 7.7% it was stated? - What % interest did users receive? 7%? --> His profit probably was much lower than the total circulating/paper bitcoins suggest.. Ente |
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Is there any possibility that (some of) PPT were actually acomplices in this whole pirate scam thing? I wonder if paybtc got some share of bitcoins. The lack of information and activity regarding this matter is very suspicious.
From the info the investigation turned up (and based on things that imsaguy and a few others said at the time) paybtc was getting more than 7%/Week (most likely 7.7%/Week). Ergo, from the size of the fund at collapse (~150k BTC) he was getting ~1k BTC per week of stolen funds from the ponzi scheme. "getting" implying that he would have gotten anything out in the first place. Its not like pirate paid out weeks ago, and payb.tc refused to pass it on or something.. Ente |
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Good to see I don't need to send you the email I was writing summarizing what just happened lol
It's awful! For days I check the stats even more often than normally! :-) Thank you for remembering me! I already sleep/work/live more relaxed, since subscribing to your alert service! For everyone else: https://bitcointalk.org/index.php?topic=117427.0Ente |
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Overall, all those nuances about block halving, difficulty changes, mining issues, etc. are already all prices into the charts. It is far easier to predict price movements based on chart patterns and indicators than speculating for years about all those fuzzy factors.
No they're not, due to asymetric information and investors driven mainly by emotions. Also vast majority of investors don't run around with a calculator and market analysis formulas. Chart patterns and indicators are mostly a combination of bullshit and crowd psychology. Both of which are unrelieble as fuck. Long story short, the perfect market is a myth, because market is a sum of investors' actions. Investors are humans and humans are far from perfect. You are right when watching normal sized groups, the kind we see every day. You are wrong when watching huge groups. Several thousand people, all having the same goal (sell for profit), having the same few options (buy, sell)? Crowd par excellence. ..And then have a closer look at the market theories: Wave theory doesn't seem to be oversimplifying to me.. Ente |
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