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1081  Economy / Speculation / Re: on the close-down of FxBTC before all users could withdraw on: May 12, 2014, 02:32:45 PM
That it's hypocritical to ignore bad news and say people shouldn't post them while doing the opposite with good news from the same source.

Also, this isn't war. When you speculate on Bitcoin, are you thinking of enemies and allies? Cheesy Cheesy Cheesy
1082  Economy / Speculation / Re: on the close-down of FxBTC before all users could withdraw on: May 12, 2014, 02:00:20 PM
can't help pointing out that I predicted the event will happen, one month ago:
    
possibility of insolvency of Chinese exchange FxBTC examed (they are 4th biggest in China)
https://bitcointalk.org/index.php?topic=557067.0

(No, I don't know if the rest are insolvent, but they have a chance to save themselves by forming a league, as they did in self-regulation, thanks to the fact that Chinese traders do not use wallets, instead they transfer coins to the most trusted one when they are worried, hence if they "help each other" a real bank run can be delayed - but, it is also a golden opportunity to take down a competitor, e.g. "Hey, Huobi just came to me saying they want a league to fight bank run! They must have a problem, let's make their plead public". FxBTC is known aloof, not working together with other exchanges, it is their bane as it turns out)

Chinese news system alread received instruction from central on what/how to report Bitcoin, whether state media secure the opportunity to paint Bitcoin black or not depends on their judgement of the noise Bitcoin made: Big noise -> paint Bitcoin black, now you see the ponzi scheme; small noice -> no report of Bitcoin allowed, let it die without much debate.

(No I don't think Bitcoin will die, but more bad news from China expected)

Dude dont give a flying fruit cake about your CHINA problems

Us white devils are moving one...you need to sort your own shit out ..let us know when u can contribute constructively to crypto

Otherwise we have all had enough & really dont care...overthrow your repressive regime or something of that nature ...the rest is blah blah blah
That is quite interesting, as China was quite welcome here back in winter 2013. People here are not willing to take the good with the bad, they live in some kind of fantasy world where everything must be positive.
1083  Economy / Speculation / Re: it will reach $5000 before this year ends on: May 12, 2014, 01:59:01 PM
The Winklevoss fund is about to be listed on NASDAQ. 
First of all, creating a new security can take many years. Second, there is no indication by the SEC that it'll be approved. Third, this is not actually adoption, because people buying this can't actually use any real bitcoins and be part of the bitcoin economy. It is only for price speculation, like a CFD.

Bitpay has a huge announcement coming soon.
an announcement about a future announcement about an unknown subject is not even worthy of discussion. that reminds me of mtgox...

Coinbase and Xapo have hinted that Mastercard is coming soon.
hinted?? and this news would hardly qualify as adoption. It will become slightly easier to use coinbase, which already exists - that's not a quantum leap in adoption


You must be so much fun at parties Smiley

I hear TERA is just as fun at parties as he is on here.
I sure would rather trust someone "fun at parties" for economic outlooks and financial advice than someone willing to face truths.
1084  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 11, 2014, 05:25:44 PM
1085  Economy / Speculation / Re: You've all been fooled: China is NOT in control of this market on: May 11, 2014, 04:01:25 PM
You have been fooled, bitcoincharts lists only one of the less important Chinese exchanges.

http://bitcoinity.org/markets/list?currency=ALL&span=7d

Nothing to discuss.
1086  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 09, 2014, 11:05:30 AM
But why exactly did the Chinese exchanges pull out of the bitcoin summit, and what is the real chance they shutdown without notice in the next days?

Shutdown without notice is not that high I think, the chance of a shutdown notice being published is very likely imo.
With a deadline or two, of course!
1087  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 09, 2014, 10:44:21 AM
I appear to be firmly at the bottom of the pyramid but bitcoin has returned around %400 of my original investment.
Yes, the author is either as much deluded as his bottom step or he is twisting reality so that it's funnier/deceptive. I don't think insider knowledge is as big an advantage as people make it out to be with regard to Bitcoin; it's extremely difficult to interpret news/events even if you know beforehand. Plus, it's doubtful that important political figures will bother trading Bitcoin. Neither does buy and hold necessarily lead to ruins. There's one case where I think insider knowledge is invaluable though, and that's if you are an exchange operator, at least if your exchange is one of the bigger (more stable in volume) ones.

Anyway, I think it's funny.
1088  Economy / Service Discussion / Re: Bitstamp TX Fee Exploit - Charge 1.16% instead of 0.2% without your consent on: May 09, 2014, 10:36:55 AM
They are still going to charge much higher than the posted fees in some cases. The minimum is $5, that's great. But what about $5.01? The fee should be $0.01002 but instead you will be charged $0.02. Okay the breakage seems capped at double now, but that's still a lot.

Their base fee is .5%.
If you place a $5 order you should be charged $0.025, but instead you will be charged $0.03.

In other words, even with their "fix", you'd get charged 20% more than advertised.

I see folks cheering because their answer to the situation was fast...
It's as if the people here would be happy to be served a plate of steaming shit in a restaurant, instead of actual food, as long as the waiter's fast.

so lets close our accounts in Bitstamp and start using your shitty exchange right ? because you've got it all figured out....

It doesn't matter whether he has an exchange thats worse or better he's demonstrating that there is still an issue. Rather than attacking him why don't you raise some valid counter points?
Agree.

It is good to see that Bitstamp has done some improvement to reduce it though. Hopefully they will increase precision eventually.
1089  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 09, 2014, 10:21:13 AM

I think I like this one better:

1090  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 09, 2014, 10:08:20 AM
http://www.reddit.com/r/BitcoinMarkets/comments/253p3r/daily_discussion_friday_may_09_2014/chdgyiu
1091  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 09, 2014, 09:54:35 AM
Does Houbi start imposing the higher fees on HFT trading starting tomorrow, or was that all just a big fat lie?
Surely the exchanges wouldn't lie to us or the PBOC, would they? Cheesy Cheesy

On the course they're on it's probably only a matter of time until the first one gets arrested.
1092  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:43:28 PM
Choice FUD4U: Without Emptygox artificially inflating the price by disallowing SWIFT withdrawals (as happened since April 2013) and thus dragging up all the other markets thanks to its former market leader role, will it be as easy?
1093  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 07:28:04 PM
Hey Guys look what I found on pastebin, looks like someone leaked some marching orders from the puppet masters.

How embarrassing!

Quote
Troll Talking Points
 May 6th, 2014

Greetings gentlemen, first let me start off and say you have been doing very good work lately.
However we would like to remind you that you need to post in other forums besides Speculation,
as it is becoming quite apparent when you purchased your account from a real member since the account
stopped posting in other forums. Remember keep up your appearances, so as to not blow your cover.

Also some of you have been posting too much in "TOTAL TROLL" mode. Remember you need to dial it back
every now and then and post like an actual moderate bear would. This lends you creditability for your
"TOTAL TROLL" mode, when it is deemed necessary by the powers that be. And also keeps the actual bears
on your side, and they will even back you up sometimes... LOL.

Now onto today's talking points:

* OPERATION FUD - People were starting to react positively to the term FUD being thrown around, and it was
  starting to dilute our message. As you know the effort to re-term it to mean Fact U Dislike has worked moderately.
  Please keep mentioning it when someone points out our actual use of FUD.
  
* CHINA, CHINA, CHINA - The powers that be are coming to the end of the China ban milking. Now that China's actual
  influence on the markets has dwindled its time to switch tactics. Let's try "China is the only thing that makes
  Bitcoin worth more than $100". Find correlations between events in China to price rising and failing. Nevermind
  the growth outside of China, keep them focused on China. We want maximum panic when the exchanges finally mention
  they are leaving China.
  
* CHARTS - Now that you've all been through "negative slope" training, don't forget throw up a couple trendlines
  that point out how Bitcoin is going down to $0. Remember its not you making the numbers go down, its just what
  the trend it pointing out. Don't forget an emoticon for an effective reaction Wink
  

That's it for today. Your Bitcoin payments are on their way. Don't forget to put your shorts in, as you know we
definetely will let YOU know when the squeeze begins.
That's hilarious.
1094  Economy / Service Discussion / Re: Bitstamp Transaction Fee Fraud - Charging up to 1.16% transaction fee. on: May 06, 2014, 12:08:48 PM
Then its their API that isn't restricted to minimum trade of $1.
The minimum trade amount needs to be corrected  o $5 on both api and website, so that the maximum charged fee is $0.01, ( 0.2% fee of trade)

Agree, simple solution and no side can complain. $5 is plenty small enough per order.
That's a good solution, but will Bitstamp be so inclined as to give up this profit? I hope they are.

Maybe we can complain loud enough so as to pressure them.
1095  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 11:58:13 AM
TERA, you've been here long enough to not get offended by a couple of bleeding bullswines resorting to blame posters, traders, idiots, gods, everyone but themselves.
1096  Economy / Service Discussion / Re: Bitstamp Transaction Fee Fraud - Charging up to 1.16% transaction fee. on: May 06, 2014, 11:50:21 AM
I see they actually intend and understand this ripoff. If they want more money, they can simply split orders up into smaller ones, brilliant.

1.16% fee in place of a promised 0.2% fee is inexcusable, and this is for a sum of 8640 USD, so not just "dust". This rounding borders on a scam.
1097  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 11:46:58 AM
While everyone is bored, what about the transaction fee fraud Bitstamp is doing?

(I assume most of you trade there)

https://bitcointalk.org/index.php?topic=597647.0

Wow, that's really bad if true. That are big amounts they steal.
I checked and while it made barely any difference in my trading so far, it could make one if the bulk of the volume on the order book is such that it is in small and numerous orders.

For small trades, it is already a complete ripoff because you are more likely to have the greater part filled by those types of orders. I hope Bitcramp will correct this scammy behaviour.
1098  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 09:25:55 AM
Chessnut, do you have any data showing the leverage stats in China? If not how can you presume that the end of leveraged trading and force closing all leverage positions would result in a price rise?
I think you know why that is. Cheesy
1099  Economy / Speculation / Re: $438 and going down on: May 06, 2014, 09:20:10 AM
or none of them will be and miners with alternative income sources (say renting hosting space) will hold looking for increases prices in the future reducing the daily supply of new coins to zero.

Yeah, or we can make something up that ignores economics and human behaviour that will suddenly behave differently from the past 7 months.
1100  Economy / Speculation / Re: $438 and going down on: May 06, 2014, 09:13:50 AM
Newly minted coins are all that's needed to crash the market.  The BTC community needs to CONTINUALLY spend more then a million dollars a DAY to support the current price, they can not simple HODL the price up because thouse miners need to have their costs covered.

No.  If miners stop unprofitable mining, difficulty will drop to compensate.  In short, mining costs will always be covered because of this.  Mining difficulty will adjust, meaning less will be spent on hardware and electricity.  So the fiat-value of BTC will not need to cover miners.

The point is that the average profit margins are decreasing across the board, from difficulty increase to difficulty increase, thus a larger portion has to be sold than before to cover running costs. Eventually, the margins will be very tight, and it will be extremely competitive, so that pretty much the entirety of the 3600 daily BTC supply will have to be sold.

If this wasn't true, then the average hashrate growth in % would not be decreasing:

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