As much as I want to believe this, I'm sure this will only end in disaster.
The best parties ALWAYS end in disaster.  |
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price difference between Gox and other exchanges is still higher than usual.
No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.
Thoughts?
That also means they are dumping on other exchanges to get their fiat back. So it's probably a little of both |
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poor girl behind her...  RE stability - I get this feeling people don't know what to think. No one really wants to play until they sort that out I guess? All this great media coverage, and in particular the announcements in the last 24 hours! (webmoney, funding founders)... then there's the potential of some further developments post conference. BUT the elephant in the room is the dwolla issue, any updates on that yet? Bids are starting to pile up. Slowly... Hopefully this good news filters around the web and we see some upward action. |
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Anyway, back on topic.... I wonder if this is now a return to the stability that we've had over the last few days, or is it the calm before the storm, as seems to be the norm with BTC?
feels like: blast off postponed until further notice, reason: bad weather...Rain? That works! Ready... Set... RALLY! |
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Do what all the TA guys do, change it to Jan 1st to March 15th. Drop that trend growth percentage down a little, and you're a genius again. |
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Those guys don't even work at Paypal. It has nothing to do with Paypal. It's just saying, "Hey these guys who founded Paypal, are now investing in Bitpay!". http://www.foundersfund.com is the group that invested, which the 3 are part of. You're right, sorry. But: As of the end of 2011 the firm [Founders Fund] was made up of the following partners: - Peter Thiel, founder and former CEO and chairman of PayPal
- Ken Howery, founder and former CFO of PayPal
- Luke Nosek, founder and former vice president of PayPal
- Sean Parker, former president of Plaxo and Facebook, served as managing partner from the time he left Facebook in 2008 until 2011, when his title became Executive General Partner.
- Bruce Gibney
- Brian Singerman
Yeah, former. Used to work at Paypal. Don't work there anymore. Paypal isn't investing in Bitpay. No one who works at Paypal is investing in Bitpay. There seems to be some confusion. Like I said, the fact that these guys started Paypal, they probably know their shit. So it's good news. But it has nothing to do with Paypal who is currently owned by eBay. |
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Based on the details of the recent Homeland Security actions, it appears that EVERY entity that associates or has associated with MtGox is subject to seizure of their money.
With that said.. Why hasn't the price of BTC's crashed today?
It was just their Dwolla account. And it turns out it was their own fault. MtGox being incompetent isn't news. |
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sorry to dig up a post several pages back but just catching up on today and: A - thanks for this post, the cosby coin troll history has totally made my day B - thanks for this post, newcomers like myself can benefit from this advice/reality check... someone talking with authority does not necessarily have authority (or if they do, maybe not relevant experience to back it up) C - Personally I might go back to lurking in order to "take some notes" and "learn a few things" rather than engage so much... it's probably more productive! Yeah some people flipped out when their Bitcoins were being "converted" to CosbyCoins. There's people who think Bitcoin is a ponzi scheme right now, back in 2011 it was hard to generate any creditability. And when the main forum gets defaced with CosbyCoins it was sorta hard to take it seriously. Lots of hacks, lots of stolen coins, exchanges disappearing, bitcoin wallet sites getting hacked, MtGox getting hacked, lots and lots of bumps in the road. But like this most recent DHS stuff, MtGox gets their shit in order, everyone else checks how they do business, things get more secure, Bitcoin keeps on keeping on. |
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This is really huge. So I guess we can dismiss PayPal as enemy completely. Would be glad. I know John Donahoe's statement. [tinfoilhead] Peter Andreas Thiel (born October 11, 1967) is a German-born American entrepreneur, venture capitalist, and hedge fund manager. Thiel co-founded PayPal with Max Levchin and served as its CEO. He currently serves as president of Clarium Capital, a global macro hedge fund with under $700 million in assets under management; a managing partner in The Founders Fund. Thiel founded Palantir Technologies funded by the CIA's venture capital arm In-Q-Tel. [/tinfoilhead] Those guys don't even work at Paypal. It has nothing to do with Paypal. It's just saying, "Hey these guys who founded Paypal, are now investing in Bitpay!". http://www.foundersfund.com is the group that invested, which the 3 are part of. |
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...snip... Paypal was started as a rebellion against the useless banks that were stifling online business. These guys may still have fire in their bellies Do they still even own Paypal ? eBay bought them out making them richer than Croesus. Correct. They don't work at Paypal. |
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These guys are the founders from Paypal investing in BitPay. It's not like it's Paypal directly investing in BitPay.
The way I'm thinking is : They did the almost impossible before, maybe they'll do it again but this time with BitPay instead of PayPal.
I see what your saying. But I wonder if they are buying a piece of BitPay with the intention of an eventual takeover. Why else would they invest in a competitor? Paypal could just integrate Bitcoin right now. They don't need to buy anyone. But this has nothing to do with Paypal. http://www.foundersfund.com/Luke Nosek, Ken Howery, Peter Thiel don't even work at Paypal anymore. This is a fund to help tech startups. It's just throwing the Paypal reference because it adds some weight to the whole e-commerce heavyweight angle. |
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@coinseeker... you're trying too hard.
Come clean then, have you shorted BTC? Might be easier for you to just give up now and liquidate your position early. It'll be a lot less stressful for you in the long run.
He's been here 3 weeks. His wife only let him buy 1.5 BTC. He doesn't even know what shorting is. |
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Wow, he actually wrote that. It's clear to me the guy suffers from a textbook "delusion of grandeur", and I'm sure half of this ramblings are just delusions and lies.
As Blitz said, "a crazy guy going nuts"
Honestly, I feel sorry for Rontus (his employee)
I doubt anyone went. I doubt Rontus exists. The supernode conference drama sounded like he took his rejected James Bond script (where he plays James Bond) and he modified it for the supernode conference. At the very least he's autistic. He's entertainment, like a tabloid. You don't really take it seriously. |
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This is the US government going on the warpath against bitcoin. There is nothing to date to suggest the US government is going to war against bitcoin. FinCEN for example provided guidance on the applicability of existing regulation on exchanges. If FinCEN believed Bitcoin was illegal they wouldn't be regulating it. Now the regulation is a little heavy handed and in some parts nonsensical. It likely will raise cost and stifle innovation but that is something a thousands different industries deal with everyday. Even DHS warrant outlines the violations of MSB regulations as the reason not that Bitcoin is defacto illegal. I mean if the government is seeking a seizure warrant for a drug dealer (an activity completely illegal) they don't cite technical violations of money transmitter laws they site the underlying illegal activity (namely selling illegal drugs). This could change in the future but it always could have changed in the future. Also one can be "immune" to the US government by simply operating outside of the US (to include US residents). An exchange could open tomorrow taking steps to prevent use by US residents and not deal with the hassle of US regulation. Granted the "US market" is a lucrative one but also a regulatory minefield. Some companies may opt to simply bypass the entire issue. Great post. MtGox was trying to operate in the USA without properly setting up the company. They're incompetent. That's not news. |
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Let's back up a little. This is not a "somewhat complicated" system - this is a very complicated system.
Very little reason for you to use it. It's an e-wallet. Used mostly in Russia. To buy things online, in Russia. It's a Russian paypal. Accepted at the types of places Paypal is. Given that, it's not terribly useful for Americans. Yes. Seems like. Although accepting bitcoin might change that a bit. It's still great news. One of the oldest e-wallets, started in 1998. 11 million users. Huge in Russia. While not as big as if Paypal integrated Bitcoin, it's still up there. The fact it's non-usa, it's probably a good thing too. =) |
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Let's back up a little. This is not a "somewhat complicated" system - this is a very complicated system.
Very little reason for you to use it. It's an e-wallet. Used mostly in Russia. To buy things online, in Russia. It's a Russian paypal. Accepted at the types of places Paypal is. Given that, it's not terribly useful for Americans. |
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[...]
If Gox gets shut down the price will almost certainly drop below to perhaps to the 10-30 range [...]
Bullshit. Mt.Gox dying a slow, painful death at the hands of U.S. and Japanese regulators would be the best possible thing that could happen to Bitcoin at this point in time. New exchanges and related services are popping up left and right. All that would happen is a transfer of volume from Gox to elsewhere. The government/TPTB are going to keep shutting down exchanges, and if you think this will drive bitcoin prices down, please sell all your coins now and get out because your market position is incongruent with your [incorrect] opinion regarding how government intervention/regulation affects prices. +0.05 |
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If the DOJ wanted to shut them down, they would. MtGox is on a .com. They can close those down anytime they want. They wouldn't just shut down their US Dwolla account. MtGox now has time to move off a .com, move servers, move money. That's not how the DOJ works. They don't do warnings. They ass blast you all at once. Bitcoin businesses are getting more investors. That means more money. That means more lawyers. Cryptocurrencies are here to stay, the genie is out of the bottle. The DOJ will quickly realize they're better off if Bitcoin is the main currency and they can keep tabs on it. Push it further underground and it's just harder to track. |
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