... everyone knows they only made $333  Source? |
|
|
|
This just in, SR auction coins sold for an average of $789 each!! BUY, BUY, BUY!!
Source? |
|
|
|
Even if the winning bidder decides not to reveal their bid, there's nothing stopping the losers from revealing how much they bid. And there's a good chance of those leaks happening. Stay mad OP... because Merica #1 always matters The more interesting question is: Will the losers decide to buy? |
|
|
|
Rally time. Where the fuck are all the bears?  ? Blitz, TERA, everyone. Where are you? Where did you go? Its so quiet in here all of a sudden. Edit: HI-LARIOUS Hibernation? |
|
|
|
You mean Circle hasn't dumped their 50,000 btc on the market that I'm sure they paid much less than current market price for?!? And they are trying to get even more btc?? Gasp! I'm completely shocked they haven't dumped everything already, as I'm sure they would make a killing! In fact, the Winklevoss Twins should dump their 1000's of coins too, as I heard they paid ~$100/btc!! They could make so much money!! Isn't the purpose of buying huge lots of coins, just to dump them first chance you can get in order to make a profit? Why would anyone even hold them long term? I'm completely baffled!! /S The problem with Bitcoin at the present moment is it's filled with people that want to make a quick buck to buy a mediocre 3-Series BMW and feel "rich" for a few months while they slowly go broke. Oh, self esteem. Driving a brand new 3-Series BMW makes you more of a man, you know! All your flaws will fade once this happens. Life will start anew. They'll be a new man. All the girls will want them. Life will be grand. It's their time to shine. They've earned it. Most of the people that fail to see the big picture fall into this category. And now you know exactly why 95% of bitcoiners who were involved with bitcoin 2-3 years ago, even one year ago, are still no richer or better off than they are today. Because they had a chance to buy tons of bitcoins for pennies or even dollars, and just sit on them for a few years. But they didn't, as soon as the price jumped 25%, 50%, or even doubled, they cashed out immediately. Or day traded and pissed all the money away. So stupid, many of them could be extremely wealthy today, had they just purchased a few thousand bitcoins and just held them. The same thing is going to repeat itself from this point forward as well. The majority of bitcoins will eventually find their way from the hands of the stupid and poor to the rich and wealthy, simply because the stupid and poor don't know how to invest properly and just want to buy some stupid toy with their "winnings". This is the main reason why many in the "middle class" or even "the poor" in most OECD countries do not get ahead. They fail to realize that the secret to wealth lies in spending less and saying no to marketers and sales people, rather than earning more. A good rule of thumb here is the more branding and marketing, the worse the deal is. This applies just as well to investments as it does to day to day products. As for bitcoin I say buy and hold, the time to get out will come eventually. One good indicator as to when to sell is when bitcoin is heavily marketed and sold to consumers. |
|
|
|
SO WHY THE FUCK WOULD SOMEONE WITH THAT MUCH MONEY DUMP THOSE COINS AND LOSE TENS OF MILLIONS?
I hate to say this out loud - but I had this scary thought... This would actually be a cheap investment for the banking system if they collectively thought that doing this was enough to kill bitcoin forever as a competitor. Given current market volatility and liquidity depth, I imagine a large tranche of coins like this is more likely to sell at below market price than the 30K SR coins being auctioned in next few hours. A 50% discount to market would not be out of the question for 140K coin block. But let's assume for arguments sake (and to keep my maths easy), that they fetch $500 each. So 140K coins would be $70M. Even at market ($600) it's only $84M worth of coins. A lot to you and I maybe, but a drop in the ocean to banks... after all they can simply create the money! I can imagine a cartel of 10 or 20 large banks chipping in say $10M each, buying the 140K coins and then dumping them onto the market over a short few days or weeks to hammer the Bitcoin price down to $xx level or lower. Protect their monopoly on the banking system and write off any loss to minimise taxes - it's a win-win for the banks, isn't it? I'm bullish on bitcoin and usually stay away from tinfoil-hat conspiracy theories - but this scares me... There must be a hole or two in this thought bubble - anyone?? Posted from Bitcointa.lk - #joL4QKTu8VqQATxqThe flaw is that by the time the legal cases are sorted out the BTC/USD rate could very easily be way above 500 by a few orders of magnitude. I would suggest reading the defence submission here http://www.coindesk.com/ross-ulbricht-attorney-irs-guidance-motion-dismiss-charges/ first and the many complex legal issues it raises. If anyone is prepared to write a call option on BTC/USD with a strike price of 500 USD for the duration of this trail and any subsequent appeals I may be interested, provided of course sufficient collateral is provided. |
|
|
|
Those 140k coins aren't going anywhere for a long time. They will tied up in the courts for years, and this case to say the least is very complex. To get an idea of just some of the issues here, take a look at the Free Ross Ulbricht site: http://freeross.org/ When some time in the future the court cases are finally resolved and the prevailing party decides to sell it is likely they will have an impact on the market. It is also possible this impact is bearish and significant. The trouble for a bear trying to play this is that the crash could be from say 1,200,000 USD per BTC to say 600,000 USD per BTC. So a bear selling at say 560 USD per BTC would be out of luck. The wheels of justice move very slowly and provide ample time for the slaughter of many a bitbear. |
|
|
|
Division 19 would apply to businesses that deal in virtual currencies, such as virtual currency exchanges, and not to retail businesses that accept virtual currencies as a method of payment. if your business model is a FIAT<->BTC touching exchange, then your a MSB.. and you need a licence. if your business model is not about moving FIAT person to person.. and is just a bitcoin store, a game, service etc.. then dont worry it's still all about the fiat. as that is their jurisdiction (canadian dollars is their property) Just for clarity, does the FIAT <-> BTC touching exchange model apply to average businesses/personal conversions of Bitcoin<->FIAT or only to businesses whose business model depends on it? For example, Would a business using BitPay's Bitcoin->Bank service be needing a license OR Would a person converting Bitcoin to CAD be needing a license? I very much doubt it just like a business accepting payments in USD or an individual converting EUR to CAD. We of course have to see the regulations but the essence of this legislation is to treat Bitcoin as money for the purposes of AML/KNC anti-money laundering etc. Who will be affected of course is Bitcoin exchanges etc. Interestingly Virtex is way ahead of the game here having already registered with FINTRAC and implemented AML/KNC etc. Edit: This is just one more example of a government coming to the realization that Bitcoin is money and treating it as such. |
|
|
|
|
Yes. I suspect she/he/it felt there was a significant likely hood that Bitcoin would grow this big or bigger. This would explain going to great trouble in-order to hide her/his/its identity.
|
|
|
|
Two can play at this game,
If you believe they are so valuable, why don't you buy mine at $15 a piece.
Does this offer still stand?  The more relevant question is does GeniuSxBoY have any BTC left to sell? One of the fears at the time was that pirateat40 would suddenly pay off his BTC debts sending the BTC/USD rate into the cents. I stand corrected this was August 2011 not August 2012. The bears did have a point but only until November / December 2011. By the way this is just before when pirateat40 started his First Pirate Savings and Trust. For a while pirateat40 paying 7% a week on BTC deposits actually made sense since in the fall of 2011 the BTC/USD rate was on average falling more than 7% a week. When the bear market ended and there was no R.I.P. Bitcoin then pirateat40 got caught in a brutal short squeeze and he eventually went under in August 2012. The lesson here is that this Bitbear market did not last for ever, pirateat40 however went into denial and kept shorting BTC right to the bitter end in August 2012. Those of us who were long (I started buying in October 2011) profited handsomely purchasing BTC in the late fall 2011, winter 2011/2012 and spring / summer 2012 at depressed prices. The peak of June 2011 at over 31 USD per BTC was the culmination of a bull market that started in late 2009 when New Liberty Standard starting trading. The rate in November 2009 went as low as 1630.33 BTC for 1 USD or 0.000613373 USD per BTC. |
|
|
|
Hello, I live in Bolivia and can confirm our government is very ignorant, I don't even know how they heard about Bitcoin, they only know how to steal money and spend our money in non useful things. I don't care of their ban to Bitcoin and will continue using it. As in the document says: "National use of digital currencies" I won't use it nationally, because as web developer/programmer, Bitcoin is a very useful "Tool" for me. The thing is when I withdraw my Bitcoins, I will have to lie because every bank has KYC policy and they ask even for small transaction the source of funds and what are you going to do with the funds. Anyone can suggest a smart way to deal with banks with this stupid policy?  This is for you Mr President. Evo Morales Llayma.. or was it Ayma. Can you get independent legal advice in Bolivia on the actual resolution? My read of it is that they tried to ban Bitcoin but failed because the ban is contingent on no other country passing regulations regarding Bitcoin. |
|
|
|
This depends to a large degree how the central bank is structured. In many parts of the world it is simply an arm of the government, a ministry or department, and not "independent" as is the case for example in the United States. If one visits the Central Bank of Bolivia website http://www.bcb.gob.bo/?q=Funciones%20del%20Banco%20Central it says: El Banco Central es una institution del Estado or The Central Bank is an institution of the State So yes in some countries central banks can make things illegal. As I indicated in this thread https://bitcointalk.org/index.php?topic=658405.0;all I believe that the Bolivian Central Bank tried to ban Bitcoin but failed because they worded their resolution very poorly. |
|
|
|
Two can play at this game,
If you believe they are so valuable, why don't you buy mine at $15 a piece.
Does this offer still stand? The more relevant question is does GeniuSxBoY have any BTC left to sell? One of the fears at the time was that pirateat40 would suddenly pay off his BTC debts sending the BTC/USD rate into the cents. |
|
|
|
One or more of the creditors need to "pierce the corporate veil" and go after the assets of Tibanne and Karpeles' personal assets in the MTGox bankruptcy. Edit: Then he will not even be able to afford a capsule here: https://en.wikipedia.org/wiki/Nakagin_Capsule_Tower |
|
|
|
Who the F cares about Bolivia.
It only means that BTC is doing something right.
You don't think it is a bit fishy that Bitcoin is getting a very poor reception whenever it comes to the attention of any non NATO affiliated/controlled governments, whilst Western governments are all giving it the greenlight? I thought Bitcoin was meant to be a threat to the USD hegemony? If that is the case, why haven't the likes of Russia and China embraced it with open arms? Why isn't America banning it? Why are they legitimising Bitcoin by selling seized Bitcoins to entities such as large Western banks? IF Bitcoin was really a threat, the US could kill it stone dead, 2moro. Russia, China, Thailand, India, and no doubt many more to come. They all know that Bitcoin was/is a pilot developed by NSA to wage financial warfare on other countries' economies. They can smell the US sanctions and/or other economic pressures and the capital flight via Bitcoin a mile off. A liquid Bitcoin market in a country also makes it very easy for powerful entities to get funds into that economy in order to sponsor 'destabilisers' of that economy/political system to do their deeds. You actually believe this stuff yourself? Stop smoking too much of that stuff man it makes you paranoid.  Just give it a few years m8. Something along those lines will come out about Bitcoins origins. ... because contrary to many opinions Bitcoin does not pose a threat to the convertible fiat currencies such as the USD, EUR, GBP, CAD, etc or the related banking system. It actually complements the existing fiat banking system very well. When it comes to non convertible fiat currencies with high degrees of inflation and fears of capital flight as in the case in many non NATO affiliated/controlled governments Bitcoin poses a very serious threat. This is the kind of article that keeps many officials in many non NATO affiliated/controlled governments awake at night. www.pymnts.com/news/2014/chinese-home-buyers-can-now-use-bitcoin-in-londonBitcoin by the way also poses a very serious threat to gold. If gold plunges in price it will be the western governments and their banks that have been selling and shorting gold that will be the winners and those who have been buying gold who will be the losers. Edit: By the way after Bitcoin I consider the best investment to be short term US Treasury bills. |
|
|
|
They can very easily integrate Bitcoin as a funding method. What can get really interesting is paying a merchant in Bitcoin after a six month hold back of the funds. |
|
|
|
|
Show Posts
