lol, indeed appears as a valid "squeeeze the pirate" strategy. Withdraw all from pirate, list for sale at 10.12345$ (or better yet in cold storage for a decade).

Nope, just an indication of how low opinion I have about his flock, really.

Yes, I find that scenario quite plausible. I think it is a ponzi and he was steadily selling some part of "invested" BTC for long time now. This time was just a little show added to impress his flock and generate some "guru" status a-la "currin trading lottery". Selling into the bid to drive price down 2$ from current price certainly did not look like a mythical infallible "1-2% a day daytrader". Cannot know for certain, of course, but time will tell.

Also consider claimed quarter to half million USD worth of fake bid walls, one needs money in gox to build those. Where that money came from? Yep, it is likely, from earlier sales of BTC. If those BTC were sold at 5-6$ mark, and there are plans (which is doubtful) to pay it back one needs to actually convert that into BTC. Now how one does that and even pays 3000% annual dividend on top of 50% trading losses.

And BTW, pirate, did you know, if you lost 10%, you need to earn 11.11% to get back to where you have started. If you lost 50% you need to double your money to get back to the starting point.

Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances.

If pirate is running ponzi, why would anyone believe a single word he is saying? In that case, by definition, whatever he say must be considered as a potential lie.

Now, if he is not running ponzi, why the hell he needs to say anything at all?

Now get around that simple logic.

Some people find it easy to fuck around with other people's money, apparently.

Delusions of Grandeur.

What he did is a sure way to lose money, and a way to wow his clueless flock. Nobody is making 10% per week doing such antics as selling into bid 1$ below the market price. Not consistently anyway.

The most plausible explanation I see of some people announcing "huge dump" and then dumping large amount of BTC to the marked at bid is eve-like "lottery" where someone is playing with borrowed money that was never intended to be paid back.

IF pirate converts borrowed BTC into USD, now it is all the more difficult to covert it back to pay those "dividends", if not why the hell to try to sell then?

And one final question? How does it feel to sell so much BTC 1$ below market price just to get some more popularity points among already captive audience.

Exactly! He is saying: "if they win, they fail". Quite a logical fallacy this one, is it not?

Anyway, there is that thing, good project managers know about "premature optimisation"...

Do you think VISA size network would have a problem buying 1000 HDD's a day, 4 years from now?

Watched this for the second time. That guy has a habit of failing distinguishing between bugs and features. If you listen carefully most things he mentions as supposedly negative are actually positive for Bitcoin. In his Bitcoin part of talk about 80% of whatever he say is actually positive for Bitcoin, just delivered in a snide fashion.

Some huge "bugs" he mentioned are so not a big deal.

For example, his attack on scalability has as starting condition "if they operate VISA size network" and conclusion oh they would need to buy 1TB storage per week. Do you think VISA sized network could afford buying a few HDD's per day (even assuming that storage tech freezes forever now)?

In effect this is a hostile and qualified analysis that could not come up with anything more substantial than Ben's face in blockchain. This is the best he could come up with.

lots of INTP's on this forum, including yours truly

and here is the original rally thread, lol

now 60kBTC order book depth goes to 7.9$ and to 18$ choice is yours.

If you discount about one week of "irrational exuberance" the price went up only to 15-17$ level, and this is not that crazy. Or at least not such a huge bubble as many think it is.

Now if you take into consideration all those bitcoins "printed" over time and chart total market cap, the chart looks much, much healthier.

Chances are we will see prices above that again before long, it's just an easy double from here.

To be even more precise X^1.6180339887, where X is unknown.

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Naturally, Bitcoin is accepted as one of possible payment methods.

Basically Information Security is mostly concerned with so called CIA of data.
i.e.
confidentiality, integrity, availability (CIA) of data.

Integrity is one of the major goals here and "offsite backups"  is always the very first thing one looks into when dealing with data integrity.

From my point of view they blew not 1 of of 7, but 3 out of 3.

I would speculate that "CTO with specialisation in information security" thought that "Information Security Audit" = "code audit for SQL injection and XSS and such" plus maybe a port scan.

Given all that we know now this would be the most plausible and simple explanation.

Lady Luck is smiling to those who are well prepared.