You seem to forget that industrial-scale miners can get free or almost-free electricity too. Many Southern-European industries are moving to North Africa because Government gives them free electricity.

If free electricity is needed for big corporations to be competitive, then big corporations will have free electricity. That's how capitalism works.

And so? He got that right, but that doesn't change the fact the guy is a clown. BTW, he got it wrong with precious metals (especially silver), screaming BUY BUY BUY at the very peak of the bubble.

Finally, the reasons they list about why Quark is "much more secure than Bitcoin" are ridiculous and demonstrate that these guys are CLUELESS and they know SHIT about what they're talking about. They are just histerically pumping.

5%? More like 0.5%. Block reward is still orders of magnitude more relevant than fees - and that's not bound to change in the short time.

LOL, this quarrel between you two just reminded me the below 2011 conversation, when price was $11:



Good call ElectricMucus

Poor guy sold too many BTC too early. If he had believed a little more, now he would have dozens of millions in usd.

Early rejectors follow similar patterns. They've been predicting BTC going to near-zero for years. When and if that happens, they will proudly scream: I TOLD YOU SO, regardless of BTC having gone to 4, 5 or 6 figures before the final crash.

From now on, the only satisfaction they pursue is to be right at some point. It's interesting to see how most early rejectors are into scamcoins, litecoin above all - that's very telling and demonstrates the kind of butthurt they are feeling.

Sshh, don't ask too many questions, bro.

BTW: yours was a bold move loaded, good job - those coins won't hit the market in panic I guess, better for everybody.

In other news: what to do with tens of millions of USD in cash in China? First world problems I guess

I'd bet for "no", they seem to have different styles.... But I won't bet too much.

Single or multiple sellers?

Mine was just a way of saying that nobody knows who the f is overstock.com outside the US - and no, overstock is not only "one step behind amazon", in terms of turnover is at least 30 steps behind amazon, which is indeed a global brand.

I guess my irony was not very good, sorry for that.

Care to explain wtf is overstock.com to an European fellow that never heard about them before?

The fact is pre/insta mined speaks for itself, I agree... But also that those clows say that it is "more secure because the algorythm is more complex and thus more difficult for the NSA to crack" is utter nonsense and demonstrate these guys know NOTHING and just spit bullshit. Quark is in fact very insecure because of its too fast maturity - in just a few months the reward will drop to 1 Quark per block. No more financial incentives for the miners to mine and very cheap 51% attack for an hostile entity, unless adoption and transfer volumes skyrockets exponentially and thus high fees make a high enough incentive. That won't happen.

Quark is a pathetic scam, everybody buying them with the hopes of it being "something" is a retarded and Max Keiser and the other moron are just clowns who were probably bribed by those who created the Quarkcoin scam.

Time for an update. How is that red-black-yellow-whatever listing going, Mike?

Anyone listening to this clowns is a moron, full stop. They speak nonsense and are mostly clueless. Quark is an instamined scam, very insecure because of its fast maturity. That's so obvious that is painful.

I'm amazed by the amount of supporters Max Keiser has on this forum. It's pathetic.

I always thought that Bitcoin was designed on purpose to make it skyrocket very fast - it's the best way to make it go viral because there's nothing that motivates more than pure profit/greed. In fact, there are times in which I entertain the idea that Bitcoin is just a "trojan horse" which real purpose is to spread the blockchain (which has many other revolutionary purposes apart from being a way of transferring value) as fast as possible.

Because is not happening.

Wow.

Doge made me rich.

Just sold all my doge OTC. I got $10 million, a Bitcoin early adopter was the buyer.

I bought a Ferrari and a boat that I will park in the Genova area in Italy.

Thank you doge, Thank you community, Thank you buyer: I fulfilled all my dreams.

$298 for me.

Wow. Such retard. Very greed.

The spread between china and stamp/Gox has been consistently big. Exchanging RMB for USD cheaply and efficiently its complicate for "foreign traders". In fact, on rpietilas post I politely asked him to explain how he managed to move fiat between western and China exchange. He answered that he didn't, his way of doing "arbitrage" was buying low on stamp, selling high on BTCChina, and then patiently waiting for the spread to go to 0 or near 0, to then buy the coins on China again and sell them on stamp.

I guess that anybody with half a brain understands that has nothing to do with arbitrage. Arbitrage needs to be quasi immediate and risk free by definition. The above process is not risk free at all: you need to bet on the spread going at 0 or near 0 (and you need to waste resources monitoring that), and what happens if in the meantime the price doubles? That you lost half of your coins, that's not arbitrage.

Don't believe what Reuters writes - they are clueless. Probably the "journalist" documented himself by reading Risto's delusional ramblings, or checking the BTC-E troll box. There is one hard cold fact that proves that arbitrages between exchanges is not possible: the spread is consistently high among ALL of them. When arbitrage is possible, the spread is zero - full stop.

Yes. If arbitrage was possible we wouldn't have such spreads, the market would immediately take care of them. Arbitrage is risk free profit, if it's possible to have it you exploit it.

And btw, I respectfully proved how rpietila was not making "arbitrage" between China and Stamp, but he deleted all my posts.

The problem is that you cannot efficiently move fiat between exchanges.