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1221  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 03, 2014, 08:40:57 AM
Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers?

You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt.



He doesn't need dividend. Just by insider trading and arbitraging he would have earned a lot.

According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot.

My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world.
Yes, hopefully authorities will do a good job on investigating that angle. It isn't credible that they didn't notice the fiat hole before.
1222  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 03, 2014, 07:23:56 AM
bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
If bitcoinbuilder went to 0.9, how many people would be able to sell at this price? Bitcoinbuilder is now a fake market because noone can possibly sell at their price EXCEPT those who have already transfered their goxBTC over to bitcoinbuilder before the close.

You can tell just by looking at the extremely low volumes. Plus, I believe the bitcoinbuilder admin is taking a 4% fee on each trade, and the 2% realBTC side he converts into goxBTC he claims, so effectively he is subsidizing it.
1223  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 03, 2014, 07:16:38 AM
Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.
1224  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 02, 2014, 07:35:01 AM
Meanwhile, goxcoin rallies on builder. lol
It's a ghost market. Noone can sell his goxBTC except for those who withdrew before the site went down. In addition, builder takes 4% off each trade. Naturally the volume dwindles into nothingness.
1225  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 26, 2014, 05:03:42 AM
Look at all this fresh fiat money on Bitstamp. And look at this lack of coins.

I was expecting to come back and reply to you saying not to get carried away and post the current bid/ask depth stats,

but.. wow! Bid sum is up 10m USD in 2 days and ask sum is down 8k BTC.

Thats an improvement from 500USD/BTC (bid depth) to 1375USD/BTC

I've been out of the loop for a while.  Where are you seeing this info?
http://coinsight.org/bitstamp
1226  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 26, 2014, 04:41:57 AM
I wonder if any of those funds have stored BTC on Emptygox and are now looking to replace them.
1227  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 26, 2014, 04:38:53 AM
Look at all this fresh fiat money on Bitstamp. And look at this lack of coins.
1228  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 26, 2014, 01:46:04 AM
Guys, Bitcoins are SCARCE AS HELL. Cheesy
1229  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 26, 2014, 01:16:56 AM
Looking very promising.
1230  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 01:45:42 PM
YESSSSSS
1231  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 10:37:20 AM
LMFAO

Double bottom? 380, 400.

I know that I'm wiring money like crazy to both Kraken and Bitstamp. There will probably be a shitstorm on the media, noobs will panic sell, I expect blood on the streets and thus for me the time has arrived to go *very* long.
Well, in a way it would certainly make sense. We always thought those 750k BTC fake balances existed. Not so!
1232  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 10:25:18 AM

LMFAO

Double bottom? 380, 400.
1233  Economy / Speculation / Re: "Old" bitcoin vs newcomers (Second market) on: February 25, 2014, 06:01:06 AM
I root for group 2, and I would add circle and coinbase to them. Time to move on and have professionals take over. Assets worth half a billion dollar have been lost because this change hasn't taken place while Bitcoin's valuation rose too rapidly.
1234  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:46:09 AM
I hope people are under no illusion that other exchanges are any more safe.
1235  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:34:53 AM
Not sure if 2011 or 2013. Or worse than 2011.
1236  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 02:40:12 AM
I kind of like the new logo. Anyone of you guys going to be trading on Gox?

1237  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 02:14:38 AM
Quote
- High publicity (broken but customers are still buying coins and depositing)

Thank you for your corporation.
1238  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 02:10:32 AM
They managed to lose all but 2k BTC before noticing. Wow.
AND they don't have enough USD to cover their liabilities either.
1239  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 02:08:57 AM
They managed to lose all but 2k BTC before noticing. Wow.
1240  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 02:02:57 AM
Game over, Emptygox. It's good to see that they at least did have a plan in the end, although unfortunately it will not work.

Completely unfathomable however that they did not notice getting robbed 1) this much 2) over this long a time period.
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