What is the punishment for theft in Singapore ?

There's nothing bear market about this chart.  Any pullback to around 8 is bought aggressively.  

http://bitcoincharts.com/charts/mtgoxUSD#rg90ztgSza1gSMAzm1g20za2gSMAzm2g50zi1gVolzi2gMACDzi3gRSI

Also, Mt. Gox does not support stop orders.  nor do they allow any leverage.  So buying high in hopes of triggering others to buy higher, or selling low in hopes of triggering others to sell lower, just does not work in this market.  The act of "stop hunting" is also illegal in regulated markets, but it does occur regularly.

Anyone issuing a market-buy or market-sell order for 30,000 BTC will guarantee themselves the worst possible price on that trade.  That's ok, because you can trade against those people and profit quite handsomely.

The biggest buy I made was 3200 BTC below 8 the first time pirate pushed it down there, and bragged that he had the 8.00 ask wall.  I sold all of those coins over $9.00 within 24 hours.  

+1
A lot US-biased people on these forums seem to complain about US-specific problems, and often advocate some kind of "anarchic" and presumably tax-free society in response to their country's problems. That's all very nice, but there don't seem to be any historic examples demonstrating how a Libertarian Utopia might actually work. And even if there used to be some anarchic societies in the past, clearly they all got destroyed for some or other reason. (Maybe they couldn't collect enough funds for a functional defence force, and a stronger, more evil power overpowered them?)

So, what I want to know is how can ordinary societies with ordinary governments incorporate Bitcoin into their taxation systems, while avoiding social upheaval? And why would they want to?

Virtex is acting very bullish

Most of the time Virtex is a good 10 - 30 cents lower then mtgox
now its almost 20 cents over mtgox price


oh and the 2 recently executed order are me filling small bids

Title pretty much explains it. I'm 17 and id like to know the easiest way I could get some BTC from the comfort of my home sitting in front of my computer. I have a debit / credit card and would like to know if there are any possible ways I can get some bitcoins. Just about every way you get bitcoins requires you to go through a site like dwolla or paypal or something of the nature and you have to be 18 to register on any major online banking / money transfer site and since most of them make you link your bank accounts or verify your CC info you cant get past the age requirement. I tried buying linden dollars through second life and transferring them in game to VirWox but anyone who knows this method probably knows about the risk API that flags new accounts. I even had a 2 year old account and was only able to transfer roughly 8000 linden which is about 5 bitcoins before it flagged me and I was no longer able too. I know I could try and buy from individual people certain ways but id like a trusted secure method if possible. Any input would be nice. Ive been trying to figure something out for a couple months with no luck. Ive made a few trips to the bank for cash deposits but the nearest bank is somewhat 40 minutes away and would just like a sit at home way to get my bitcoins. Any input would be great! Thanks guys, have a good one.

Druckenmiller and Soros were already very well invested in both the German and British economies. It was when Druckenmiller realized that Germany was raising their rates and Britain had absolutely no intention to that he realized he could make a decent amount. He had already put a few million into the German mark prior to reunification, because he saw it was far more devalued than it should have been. At the time Soros basically said if he believed it would have a specific time frame for recovery, he should put in billions, not just millions, so he did, sure enough, the wall came down and Soros and Druckenmiller made hundreds of millions. People forget this.

After their sale, they had significant amounts of British pounds, but German was growing quite well, and their economy actually seemed more stable than even Britain's at the time, so when Germany thought it was a good idea to raise interest rates, and Britain basically said it wasn't going to, Druckenmiller saw another opportunity. Again, as the previous time, when he told Soros, Soros indicated that a few hundred million wasn't enough, and they should put in billions since it was basically a sure bet and they knew they had the British pounds to make it happen.

So they did. And more importantly, they told everyone about it, because they knew they had enough to do it, it was a psychological thing, they needed the pound to be stronger so that when they bought back into it, it was stable, perhaps not as stable as the US dollar at the time, but stable enough that it mattered. In essence, when someone controls significant amounts of your money supply like Soros or other large traders, you're trusting them to decide public policy, because they can use the bulk of their money to voice a concern and make good on it.

Pirate may have a huge investor wanting a significant amount of Bitcoin, but he probably just aims to use vast amounts of cash to do what he is trying to do. He'd never puts up ask walls, instead he only plays the buy side, when he sees how weak the buys are, he drops his walls and used borrowed funds to sell into it. This solution works if you are the major market buyer but stop working if another major market buyer steps in and set up their bot to wait for the buy wall to drop then BUYS INTO the sells done WITH BORROWED COIN.

Like I said, I'm looking forward to the next time he does this.

http://www.investopedia.com/articles/forex/08/greatest-currency-trades.asp#axzz21ZKmUIcG

In a sophisticated market, yes.  This is as naïve a market as you can find.  You can use short-term trading strategies from the 30s and still do well on mtgox.

And by 30s, I mean 1630s.

Do you really think someone as pirate would be stupid enough to tell everyone he is short if he wanted the price to go down?

Beyond taking on debt at rates that even a love child of Warren Buffett and Bill Gates couldn't repay?

Fascinating quote though, where and when is this from?


Why doesn't he keep his mouth shut, if he's going to burn it to the ground?

I mean, if you're George Soros and you're about to break the Bank of England by shorting the pound,
surely you wouldn't be letting people know in advance? Dun dun dun.

Way to ignore the question.  We will see, but in the mean time can you quit with the strong assertions without a shred of evidence to back them up?  If you want to say "I think that...", fine, but going around acting like you know Pirate's every move/position makes you look like an idiot.

And why do you assume this is Pirate's strategy.  Do you really think he's that stupid?  I've discussed his risk profile with him and he's not as dumb as you assume.  Again, I'll ask: Where is one scrap of evidence that your claims have anything to do with reality?

How do you know his strategy?

Buying high pushes the price extremely high, allowing someone who can corner the market to profit by selling. Selling low pushes the price extremely low, allowing someone who can corner the market to profit by buying. If you're the one doing the high buying and low selling, you know when it's going to start and when it's going to stop, allowing you to time your trades until after the walls re-appear. Some lucky and/or wise counterparty recognizing this happening can both profit during the buy up or sell down (when you're buying high and selling low) by taking your trades and they can also profit during the buy low and sell high phases by taking the trades of the walls that other people put up.

I'd be more interested in speculating how many people have 100.000 or more bitcoins. That's almost a million USD.