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1081  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.
1082  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.
1083  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:

1084  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
1085  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.
1086  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?
1087  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.
1088  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.
1089  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.
1090  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.
1091  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.
1092  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
1093  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.
1094  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:

1095  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2014, 06:54:58 AM
Is the random Chinese pump the ideal time to buy? I would think of that as the worst possible time to buy,  and the ideal time to buy would be when China is completely out of the system.
I suppose it will be a while longer until the rest close down due to unprofitability or get raided if they continue trying to circumvent the PBOC's decrees.
1096  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 05, 2014, 11:06:47 PM
has anyone seen a wall lately?
Has anyone seen anything lately? Volume is so anemic that soon it will be only miners selling off their BTC like clockwork while their marginal profits decrease every 2016 blocks, forcing them to sell off a larger and larger percentage.

The decreasing average hashrate growth is symptomatic of this.

1097  Economy / Speculation / Re: expect a set of 3 articles about China situation and a prediction following on: May 05, 2014, 07:52:44 PM
I'm just curious that what are those Chinese exchange CEOs doing right now? Are they worrying about losing their business license?
Perhaps they are fleeing the country?
1098  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 05, 2014, 05:25:56 PM
So just to be clear: anyone who doesn't think the price will imminently fall to 266 or lower is neither able to read charts nor understand 'even the most basic aspects of TA'? Interesting logic.

I am failing to hear any meaningful arguments as to why the price will drop another 60% to your desired target. Other than you want it to and are positioned appropriately of course.

The truth is you have absolutely no idea where the price will be in a month, a year or further out. Unless you can move the market you are simpl making a guess based upon the past.

It is probably worth remembering that this is the speculation (not trading) forum my good chap. Trading is for most people a mugs game.
Nice strawman, I see we have departed from the discussion at hand. Or do you believe this accusation for real?
1099  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 05, 2014, 04:11:37 PM
Quote
20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute 55 of that 80 billion XRP to charitable organizations, users and strategic partners. Ripple Labs will retain the remaining 25 billion
So they actually get to keep 45% of the whole currency supply, and that's assuming they aren't cheating with the distribution of the 55% (which you can never really know).
1100  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 05, 2014, 04:01:03 PM
Look at this, this is BTC/XRP, so it's displaying the strength of Bitcoin vs. Ripple, and you can see that it's really been in a multi-year uptrend.

Cripple is COLLAPSING while Ripple Labs are disseminating their 100 billion XRP mah87, why on earth are you holding this shitty asset? I remember selling my cripples for values like 5k, 6k, 7k and now it's 80k per BTC. And still nowhere where I would consider buying it.



And just look at this shit, Ripple Labs have only even distributed 7 billion XRP yet (how many do they want to keep for themselves again, 30 billion?) and look what it's done to the price. How long are they going to be distributing, 20 years? It doesn't even seem that there is a road map, they're just doing it willy nilly. https://www.ripplelabs.com/xrp-distribution/
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