oh look a Unicorn!
 "those unicorns..they is everywhere" |
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Jorge, thanks for posting this http://jesse.forthewin.com/blog/2014/02/unilateral-statement-regarding-fucked-up-shit-and-the-greater-good.html?cpm=329Along with the senator and all the other articles I'd say the MSM FUD offensive has begun. I'm somewhat stunned of the blithe disregard within this 'community' for what is currently unfolding. This is going to feed Sunday supplements, talk shows, features and blogs for some time -- which way the publicity breaks is unsure but BTC is going to need some real champions -- not cultists who prescribe to the "I am right, you are wrong" style of engagement.  |
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Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.
They are not gone, just pining for the blockchain... Beautiful funds, those bitcoins. ~ PININ' for the Blockchain?!?!?!? What kind of talk is that?, look, why did it fall in value 500% the moment I got 'im to my cold wallet? ~ The Gox-coin prefers kippin' on it's back! Remarkable coin, id'nit, squire? Lovely algorithm! ~ Look, I took the liberty of examining that coin when I got it home, and I discovered the only reason that it had been sitting on its exchange in the first place was that it had been NAILED there. |
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You know why it makes you nocturnal in the US, and me nocturnal in the UK?
Because all the main market making n breaking action is coming from those of a Far East time zone persuasion.
What does that tell ya?
It tells me the two of you aren't as smart as you keep telling each other you are. I'm in the 'eastern' time zone and apart from the Gox closure crash the other day volume is always very slow on Stamp during the 'day'....it picks up around 7pm local when Europe is getting up and hots up later as the US responds. Major upswings/downswings tend to have happened between 6am and 9 am local, corresponding with the West Coast being in full swing. Apart from between October to December last year, its pretty much always been like that since last March at least. The only advantage one gets being in the East of the planet is you see the news stories break and develop before they hit the global daily cycle. But of course, as everyone here keeps telling me, news and sentiment have no impact on BTC. |
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there are 2 voices in my head now
I don't want to alarm you, but I had that too. They kept telling me 'The numbers are counting to zero' Then I snapped. Then I un-snapped three minutes later and proved that zero is fundamentally an irrational number, but they placed it into the rational number-line, and therefore it does not exist. I'm currently 21 pages into a thesis about it. Trust me, writing a thesis is a pain in the ass, and all the mathematicians I have explained it to have told me I would probably need to write more than one paper. If you don't want to be stuck writing for the rest of your life, get rid of the voices. My wife has just finished her thesis (yesterday) and it is a long, painful process....best of luck. |
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No? Didn't try but looked fine. </shrug> |
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Havelock is back up
confirmed |
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Pardon me if I haven't been paying attention, but what is your take on the market from here?
Maybe you should do some reading...let's see TERA called 450 a 'natural bottom' and 520 unbreakable resistance...oh and he quit trading... again. You guys should get a room. |
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I've been getting Cloudflare caches intermittently since the outage and while the notification page is simple it seems kosher.
I suspect Havelock are getting some serious traffic...I'll keep an open but sceptical mind.
* Hey! Look! Crumbs got a new account.
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This is the same bunch of clowns that last week that an Australian company would be setting up the world's first BTC bank by the end of the year (for those who missed it Neo & Bee opened yesterday). Dire, uninformed dross...if it were in print, i wouldn't wrap my chips in it. |
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Ok, here a little paint. There are a quite a few similarities. I am well informed about all events since october. Who knows about the events from april to september?
...snip..
The rise in March would correlate with a lot of media stories about both SR and Bitcoin. After 266 there was a lot of fear, a few merchant adoptions, a lot of Gox-hate...I seem to remember it was a very dull period (esp compared to the last few weeks) but in hindsight it was exactly what was needed. My fear is that the next few weeks/months will bring the crypto eco-system into the glare of the MSM and I'm not sure all of the current participants will survive the exposure. |
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This chart is from the period 1 May 2013 to 29 Sept 2013 and is very instructive if you want to see parallels with more recent events.  We see the double bottom and the reversal confirmed with the SMA200 being broken; but we also see a long grind back before exponential growth takes hold. I think these recovery phases are contracting in terms of time but I still wouldn't be packing your space gear just yet. |
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 this is a possibility confirmed (the possibility) |
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the 45% flash recovery does not fit in with any previous bitcoin recovery. it is always a 20% recovery followed by a resistance that takes days or weeks months or years to get though. This is not behaving at all like a capitulation bottom but more like a silk road style flashcrash recovery.
FTFY |
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Satoshi could bail out Gox.
word Hey, was all OK after that issue earlier? |
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It looks like this is what [can't remember name of BF member] said yesterday about the "bad news this week"...assume this may get worse before better |
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This from rotters http://www.reuters.com/article/2014/02/26/mtgox-subpoena-idUSL3N0LV0UZ20140226Feb 25 (Reuters) - Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, the Wall Street Journal reported, citing a person familiar with the matter.
Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at "a turning point," sparking concerns about the future of the unregulated virtual currency.
The subpoena was sent this month and asked Mt. Gox to preserve certain documents among other things, the Journal said. |
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There were a lot of false dawns between May and September last year, to expect a reversal this soon is pretty outlandish (but not impossible). Do not underestimate the power of the 3.5 million USD liquidity sucker punch, that the 10K whale dealt to the market. Much of that capital would be leverage.
I'm not as inclined to agree. I think there is a lot more "loose change" ie investment that is purely speculative and owned, than you realise. I say this as someone who has been looking at Bitcoin for over a year now and on these boards the same time. But no doubt you will disagree vehemently, but perhaps that's because you spend a lot of time at BitFinex? In my very brief experience of trading Bitcoin or trading anything else for that matter, I find that an over-belief in the impact of news events is a great weakness. With the odd notable exceptions, at best these news events are catalysers of market movement, not directors of the market. The market was heading down this neck of the woods at any rate, Gox fear just helped it get here. The big issue around Gox is not so much it going down, but the mass of coins in the hands of cyber thieves (no doubt Mark Karpeles being amongst them) many of whom are looking to capitalise in a clear declining market.
I wish I could be so assertive about my beliefs after such a short period -- all I know for sure is I'm still learning. News and rumour have huge effects on this market more than most...everyone is looking for a strategic advantage, knowledge is power etc. Never under-estimate the power of a rumour to change people's behaviour. But I agree the market had to cool off...and its still hot to touch...the Bitcoin bear markets are getting shorter but we'll need at least a month I suspect. I wouldn't worry about 'cyber thieves'....I suspect that 10K the other day may have been from nefarious origins. Dodgy coins have been liquidated and on their way since...well, the beginning. And I don't think the 'Karpeles Coins' are lost, simply irretrievable. And of course dodgy fiat goes in and out of circulation...it doesn't drop currency rates. EDIT: As life imitates art  This from rotters http://www.reuters.com/article/2014/02/26/mtgox-subpoena-idUSL3N0LV0UZ20140226Feb 25 (Reuters) - Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, the Wall Street Journal reported, citing a person familiar with the matter.
Mt. Gox, once the world's biggest bitcoin exchange, abruptly stopped trading on Tuesday and its chief executive said the business was at "a turning point," sparking concerns about the future of the unregulated virtual currency.
The subpoena was sent this month and asked Mt. Gox to preserve certain documents among other things, the Journal said.
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Have caught up from yesterday, but I'm wondering about the statement from Jeff Garzik from about 20 hours back -- was that confirmed as being fake or has it been forgotten about -- I haven't got the link but I seem to recall it saying "keep the faith" etc etc and was generally positive in terms of a Gox outcome.
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Hi everyone,
I am now at the second merchant conference, the response has been overwhelming in a positive manner, we have had some great surprises at yesterdays event and the organisers stated they had never had so many people attend one private companies conference. I have received the news coverage from yesterday and will post it to youtube later today.
I have received many offers from mainstream publications for interviews that I will complete in the near future.
The big merchant is delayed on their end still but it is coming, along with many other merchants.
The final share count will be released in the next couple of days when we get a chance to get caught up with everything.
I will cover MtGox and my thoughts on the situation when I have more time and solid information.
I would like to personally thank everyone here who has been supportive and constructive with any criticisms, we are only at the starting line and the real hard work has just begun.
What about bifunder issue? Mate, the guy has just pulled off one of the biggest BTC openings in its history, while a major exchange burns. Why not give him a few days to sleep, kiss his kids, hug his wife before you unload with your problems. |
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