*sigh*
Are there any bibcoin beliebers other than me that don't actually think the world economy is about to collapse, fiat is just a ponzi scheme and that Bernanke is about to reveal that he's just a space lizard being remote controlled by a geostationary Illuminati satellite?
(raises hand) People get pretty animated re "economic collapse!" on these forums. I guess I was the same way when I got into right-libertarian theory years ago. I now know not to underestimate this system's capability for sustaining the unsustainable. We're always on the brink around here, though!  |
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1. SEO:
eBay deals is similar to Goupon imho. They are in a huge marketing phase right now and it could be that the blog post is intended for search engines aka. SEO optimization.
It's not linked in the blog itself, get it? Ask yourself, why is that? Totally. That was the initial reason for this conclusion. It shouldn't necessarily be found by human, but by robots. The reference to the blog entry is in their sitemap, which is crawled by the search engine bots: http://deals.ebay.com/blog/sitemap.xml -> http://deals.ebay.com/blog/sitemap_index.xml -> http://deals.ebay.com/blog/page-sitemap.xmlI know this is vague and speculative and one might ask: why would they put so much effort in this? Maybe the above stated statement should be redefined to: "It should be found by those who are interested in this topic and search engines." edccdn.com is an external content provider, I guess. ( recipes, thanksgiving, tablets) Get it?  Best not to be condescending when that is your case. |
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Fishy or not, it exists.
Bullish as hell.
How is it bullish if ebay has nothing to do with it? It's just a youtube video... |
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EM is right, this is fishy. <iframe id="tree" name="tree" src=" http://edccdn.com/bitcoin/" frameborder="0" marginheight="0" marginwidth="0" width="980" height="1210" scrolling="no"></iframe> Scrolling through page after page of the blog, this post doesn't appear to exist. |
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My 3x 7970's are getting about 1x LTC per day which was worth about $2. That's about the energy it costs to create them... so they're no over priced. Miners need to make money.
No they don't. And then it becomes unprofitable.  LTC on GOX? BUY BUY BUY |
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I love these "LTC on Gox" pump and dumps.
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If you have some of your money in another currency and buy something with it, I don't think capital gains would be involved. This is a question for a lawyer but I can't imagine countries, banks, etc. who have their money in other currencies, must pay capital gains on things for purchases made.
I was under the understanding that taxes are paid when going from currency to currency (depending on country). Here in Germany you have no capital gains on BTC's held for over one year.
IAS
buying a house, especially if its a second house... you'll get tax... you can try to pay with bitcoin at never declare it... idk i wouldn't... You are looking at is as if BTC was an investment. I'm saying you are just holding another currency. If you go to another country and exchange thousands in that currency and then come home and that currency's value increases, do you pay a capital gains tax on it? I can't imagine that happening. Now, if you see BTC as a stock, that might be another matter. But, it is a currency. I don't doubt there can be legal implications, I'm just saying I think it is way too early to speak with any certainty here. IAS In the US it is called foreign currency gains and is taxable (alternatively, barter gains). If bitcoin is seen as a functional currency, I read it as giving us a personal use exemption on gains less than $200 -- any transaction with gains higher than that is supposed to be reported. If bitcoin isn't seen as a currency, no exemption. Too lazy to look up and cite but pretty sure this is the case. |
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I think next bubble is $2k+.... but I don't think this is it.
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ya mtgox had more market share back them
they have been losing market share ever since may.
I get it. It's just that you only showed Bitstamp...... which really doesn't say much about volume in April. |
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It's not foolish if you can afford to have your money in limbo for weeks or months at a time. Could definitely be worth it.
It's not foolish and it's not very complicated to understand why. There is a way to goet money uot of gox fast. You have to have an account at a japanese bank (which can be complicated to achieve for a foreigner) and send funds from gox to that bank. Then you just wire the money at the bank to anywhere you want. There are few who have this set up and perhaps they are making millions. Nothing foolish about that. I said it's not foolish, with conditions. But you conveniently ignored the brunt of my point. Sure, the situation you paint sounds like a wet dream, but if this were happening on any decent scale, inter-exchange spreads would have ceased long ago. Are you sure about that? MtGox USD -> JPY Bank (3% exchange rate fee + wire fee) JPY Bank -> US Bank (3% exchange rate fee + wire fee) US Bank -> Other Exchanges (wire fee) They might be able to tighten the spread a little bit, but not too much more than it has been. To some extent you're right, but I think you're understating the effect on a 10-15% spread. |
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It's not foolish if you can afford to have your money in limbo for weeks or months at a time. Could definitely be worth it.
It's not foolish and it's not very complicated to understand why. There is a way to goet money uot of gox fast. You have to have an account at a japanese bank (which can be complicated to achieve for a foreigner) and send funds from gox to that bank. Then you just wire the money at the bank to anywhere you want. There are few who have this set up and perhaps they are making millions. Nothing foolish about that. I said it's not foolish, with conditions. But you conveniently ignored the brunt of my point. Sure, the situation you paint sounds like a wet dream, but if this were happening on any decent scale, inter-exchange spreads would have ceased long ago. Re obtaining a bank account, unless things have changed, you need to register for an alien registration card, which requires Japanese residency. I've seen sources that say one year -- others that say there are exceptions with certain banks with certain documentation. But establishing residency in a foreign country to obtain money you are already entitled to is a ridiculous hurdle and it's funny that people illustrate this as reasonable. Also, does the currency exchange issue (i.e. Gox exchanges USD-JPY rather than its bank) affect money transmission issues? A state-by-state look at money transmitter regulations suggests that currency exchange may carry compliance concerns that Gox is not in a position to handle. Do you have any information about this, or are we just assuming it is a non-issue? I know what you said and I wanted to point out that your "conditions" can be circumvented. But check this thread if you haven't already: https://bitcointalk.org/index.php?topic=276610.0 -- lots of answers. Since Japanese locals are reporting to have withdrawn their money in JPY, I assumed it's a non-issue. Furthermore, because of their business involving several currencies, I again, assumed, that they went through the necessary validations for currency exchanging or their banks do it for them. Yeah, non-option. You can't just become a Japanese local with a bank account without establishing residency and documentation with the local registrar. Don't assume anything with Gox. They had $5 million seized over the past few months for dodging regulations. They're fucking buffoons. And we know about their current banking situation... |
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The rise is no different than in April in terms of price action. A whole lot of nothing and suddenly a big buy. Things seem to be accelerating, so my risk/reward perception is changing as well. If coins become super cheap due to a crash, I can always buy more with fresh FIAT. Parabolic Rise 2.0, Yes please  Volume was far more substantial in april. Any given day was typically over 100k. We peaked over 550k. March and Feb were also way more active, I'd say 50-100k, avg day. This is more or less correct. Volume in April at this price level blows current volume out of the water. Not much panic buying to be seen.   |
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Less supply = higher prices.
Until all the fiat dries up, then mega crash It will require some superb timing. It requires zero timing. It is inevitable. There almost no new money flowing into the exchanges, not nearly at the right it is leaving. This is what I was wondering about. Search trends look like there is no new interest in bitcoin; a price spike may change that. But the atmosphere and volume over the past couple months hasn't felt like there is much of any new blood, which makes me think there is little basis for sustaining the recent uptrend. |
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The rise is no different than in April in terms of price action. A whole lot of nothing and suddenly a big buy. Things seem to be accelerating, so my risk/reward perception is changing as well. If coins become super cheap due to a crash, I can always buy more with fresh FIAT. Parabolic Rise 2.0, Yes please Volume was far more substantial in april. Any given day was typically over 100k. We peaked over 550k. March and Feb were also way more active, I'd say 50-100k, avg day. This is more or less correct. Volume in April at this price level blows current volume out of the water. Not much panic buying to be seen. |
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It's not foolish if you can afford to have your money in limbo for weeks or months at a time. Could definitely be worth it.
It's not foolish and it's not very complicated to understand why. There is a way to goet money uot of gox fast. You have to have an account at a japanese bank (which can be complicated to achieve for a foreigner) and send funds from gox to that bank. Then you just wire the money at the bank to anywhere you want. There are few who have this set up and perhaps they are making millions. Nothing foolish about that. I said it's not foolish, with conditions. But you conveniently ignored the brunt of my point. Sure, the situation you paint sounds like a wet dream, but if this were happening on any decent scale, inter-exchange spreads would have ceased long ago. Re obtaining a bank account, unless things have changed, you need to register for an alien registration card, which requires Japanese residency. I've seen sources that say one year -- others that say there are exceptions with certain banks with certain documentation. But establishing residency in a foreign country to obtain money you are already entitled to is a ridiculous hurdle and it's funny that people illustrate this as reasonable. Also, does the currency exchange issue (i.e. Gox exchanges USD-JPY rather than its bank) affect money transmission issues? A state-by-state look at money transmitter regulations suggests that currency exchange may carry compliance concerns that Gox is not in a position to handle. Do you have any information about this, or are we just assuming it is a non-issue? |
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None of this explains why Bitstamp, CampBX and btc-e all recorded the same magnitude jump simultaneously
Yes it does. Those are FOOLISH attempts at arbing. That crap is temporary and will come to an end soon. They will regret trying to arb Why is it foolish? Are you unaware of Gox's problems? Sure, that's what's causing the arb opportunity. That's doesn't mean it's foolish to take advantage of it. It's not foolish if you can afford to have your money in limbo for weeks or months at a time. Could definitely be worth it. Or perhaps it is extremely foolish. We will only see in hindsight. It's prudent to recognize that Gox is a) losing massive market share, b) facing deepening regulatory/compliance issues across a plethora of jurisdictions, c) facing an unofficial banking blockade (this situation is eerily similar to the banking issues that crushed the online poker market) where banks would have to be beyond desperate to go anywhere near Gox, and d) that a significant portion of Gox's yearly revenue was recently seized (not frozen) by the US government -- which direction the USG heads from here is difficult to say. $5 million ain't no drop in the bucket. The $2.1 million seizure on June 19 was one day before suspending US withdrawals. Right? Considering how massively incompetent Gox has been to date, I've become more open to the prospect that they made no prior contingency plans for USD payment processing (up to and including seizures). The amount of money they have kept sitting in US bank accounts is sickening. |
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Yup..because people with Millions on Gox wouldn't bother to fly or send someone to Japan to facilitate the exit of dollars to Yen and back to dollars or whatever currency they please. People couldn't possibly want bitcoin..that would be insane I'd like to hear a story of 1 person with over $200k stuck on Gox that can't find a way to get it off without buying and selling on bitstamp I don't use Gox -- can you do currency exchange like BTC-E? Trade USD for JPY? Don't think so. So withdrawing JPY does no good when you are exchanging from USD -- same delays. Maybe I'm missing something. People have mentioned showing up in person as well (...or "sending someone"? )-- any trip reports? That doesn't sound too promising if your balance is in USD. |
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I'm not convinced that bubble money isn't just being redistributed right now. How much fresh money do we think is flowing into the exchanges?
I'd be curious to see an update from that guy who was charting forum activity over time.
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If people are buying at Mt.gox only to get wealth out of their vault, why this is no super dump on other markets? Why ALL the markets are moving up?
The other exchanges haven't stopped following Gox as far as I can tell. People may also be arbitraging. |
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