Apologies for the dreadful typos and formatting but I'm ill.
1. Final Capitulation
Last year we were hearing all about 'capitulation' from the chartists, who
insisted 266 could not be bettered until we had experienced this mythical state. Look how that turned out.
2. PBOC policies still stand in China and no new chinese capital has come suddenly flying in as of Jan 31st/Feb8.
And conversely, the exchanges are still standing. I imagine the party brothers are lining their pockets with cheap coins on the side.
3. Russian ban.
The ban that no-one can work out if it really is a ban. Like China, a fluid state of affairs.
4. Cyprus issues a bank advisory (like China), which leads to at least the perception that btc-e is at serious risk.
An advisory that is almost verbatim to that issued by central banks around the world saying BTC investment can be a risky business. At the same time Cyprus is hosting the world's first BTC bank (opens next week) and its university is accepting BTC as payment for its courses. While BTC-e is registered as a business in Cypress, how you extrapolate it is a serious risk because of this statement I don't know, other than you spend too much time in the trollbox.
5. India
Issued the same warning as mentioned above. Central banks are covering themselves - its what functionaries do.
6. Apple removed blockchain app from app store, and the implications that this has about corporate control of what the public eye sees.
Apple has been removing BTC apps from its store since the beginning...you should know this.
Whats hilarious is that each time they change the reason.
7. Major exchanges were able to flashcrash to $100 (indicates weakness)
Er...flash crashes on the FTSE, Hang Sang etc.
That's life matey.
8. Flaws on Bitfinex have been exploited, traders on Bitfinex have lost money. The staff at Bitfinex showed themselves as bad at responding to issues and unfit to be running an exchange.
Yep, most of the infrastructure around BTC is being run by opportunists...its the wild west.
9. The exchanges have had large amounts of funds (millions) stolen from them which could lead to potential insolvency or unethical actions in the future (or at least more mistrust in exchanges).
So, problems with exchanges...see point above.
10. A large loss in confidence and trustworthiness in the existing exchange system, for a variety of reasons.
And again
11. The malleability bug and its lasting impact on public trust and confidence in the Bitcoin software even if it gets fixed.
Two different issues here.
Malleability has been known about for years form what I can glean and recent upgrades addressed it. So, we get back to the issue of exchanges not doing proper housekeeping.
As for the PR, well yes that's been a disaster. Gox has spun the story very well and the BTCF has epically failed.
12. Loss of trust in bitcoin foundation board members.
See above.
13. Large amounts of hacker coins, which will eventually be dumped for fiat.
Speculation and the only coins that thus far have been 'stolen' are from SR2, whihc in the scheme of things are a small number. Correct me if I'm wrong there - I'm not Interpol.
14. FBI Silk Road coins (27K or 144K) entering the market (somehow).
If ever.
15. Men in florida were arrested and received felony money laundering charges for using localbitcoins. Even if it was really due to credit card fraud, it makes the public scared of using LocalBitcoins and casts a bad light on government perception of Bitcoin.
You Americans and your obsession with crime and punishment. What can I say.
16. Silk Road 2 closed its escrow service.
But you still pay in BTC
17. Gox started processing cash withdrawals, fiat is actually exiting the system, and many jaded investors are most likely actually leaving the economy altogether.
Speculation
18. Btce halted fiat withdrawal.
Did it? Looks fine to me.
20. Major indicators on charts that turned down before the gox crash even began.
Market goes up, market goes down.
A bad few weeks no doubt but you gotta have the rain to have the rainbows.
Show Posts
