Has anyone been successfully able to withdraw a good amount of coin - say, over 2,000? If so, how long did it take?
It is recommended by Mark @ irc to break large withdraws into multiple small ones (i was told to keep it under 100 BTC each). That could only mean they are nearly broke and having liquidity problems. Otherwise, what does it change for the blockchain if the withdrawal is 100 or 1000? AFAIK the blockchain has no "limits" and in fact, AS WE ALL KNOW, dust is discouraged and for the network "the bigger the better" as it reduces blockchain bloating. |
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My understanding is that now China government clarified their policy towards bitcoin:
1) Bitcoin is a virtual commodity. It's not a currency so it cannot be used as a currency.
2) Bitcoin exchanges have to take some measures to verify users' identities and avoid money laundering.
3) Avoid using 'virtual currency' in the media to avoid misleading investors.
Actually it is not a bad news. Bitcoin has never been used as a currency in China (except two attempts did by a branch of Baidu and China Jiangsu Mobicomm). People buy them mainly for speculation and transferring funds to overseas.
Previously people may worry about the legality of bitcoin exchanges. Now this notice actually almost officially announces that all bitcoin exchanges following the rules will be legal.
This plays right into the Chinese government's long-term dollar divestment scheme. They are encouraging citizens to hold gold, so they will do the same with Bitcoin. They just want to make it more like a store of value, which in my opinion is exactly the right approach. China got strategy. Exactly. Bulls and bears will make money over this, pigs will be slaughtered and weak hands shaken out. |
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The worst case scenario is not a drop in the low 2-300s, it is that we might enter a painful multi year bear market.
Lol at the drama at $300s - why would be so bad for the price to stabilize a 300% higher than it was in mid october, and a 2500% higher than it was on January 2013? 2500% yearly growth seems a good investment to me. |
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I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.
So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.
Just wait. It will implode then they will need to compete again.
As a professor, you are fighting against the lure of cookies (debt).
P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.
LOL, what a staggering amount of ignorance. Ya think so eh? Look in the mirror buddy. So: for you "the west" = THE USA, and only the USA? France, UK, Germany, Italy, Scandinavia, are not the West in your book?
You do know that the only country in the world where people is deeply in debt even *before* having their first job (because of absurd student loans) is the US - right???
Europeans don't go in debt to go to College - most universities are state-sponsored/owned, and thus education is free or almost free. And we use to consider western and central Europe "the west" too.
Why I am not surprised that many Europeans don't realize that "state-sponsored" is why your countries have 300+% total debt-to-GDP ratios. This is hidden in cash and off-balance sheet accounting. Even Germany when viewed with correct accrual, accepted standards, and actuarial accounting (taking into account their banks' exposure and the contagion effects thereof) is at that grotesque level of debt. Granted some of the problem in the USA is cultural (6 hours of TV and video games per day is one) and multicultural. P.S. One thing I heard which I like about the system in Belgium at least, is one can choose a trade school instead of high school. That is very wise as it allows students to not waste their time if they aren't interested in a college-prep trajectory. Sorry but NO - most of "our" countries debt is PRIVATE debt, this is the main problem, and it's completely unrelated to "state sponsored education" - the public debt of Germany or even Spain or Portugal is roughly the same as in the US, the problem are the fucking banks who go in debt to finance mortgages that fuel the housing bubbles and the households that go in debt for the most stupid and innecessary things (a new car, a new TV, new furniture, etc.). The big difference between Europe's governments debt and US government debt is that Government money in Europe is mostly spent in public services and not in criminal wars. |
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Lol Chinese are pushing back ^^ Over 1030 in Price atm
Those are the ones that havnt read the news yet. Wait til they find out bitcoin is useless in their country. Good. Let's shake out all those who did not understand what's BTC real role and purpose, and that BTC is resilient to any kind of ban. Satoshi choose to be anonymous for a reason. |
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wow, how deeeeeeeep can it go ?  Wouldn't mind to see $350 coins  |
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I have observed that in Asia and Latin America, education is the #1 priority. Whereas, in the west it only is if someone can get a huge student loan and live off it.
So I think the cause of what you lament is socialism and the debt bubble. Westerners aren't motivated. Why should they be. They are fattened up well by debt.
Just wait. It will implode then they will need to compete again.
As a professor, you are fighting against the lure of cookies (debt).
P.S. I also love great teachers such as the one you described. Yet now I've found I want it even faster than that. I don't often want to slow down for a video even.
LOL, what a staggering amount of ignorance. So: for you "the west" = THE USA, and only the USA? France, UK, Germany, Italy, Scandinavia, are not the West in your book? You do know that the only country in the world where people is deeply in debt even *before* having their first job (because of absurd student loans) is the US - right??? Europeans don't go in debt to go to College - most universities are state-sponsored/owned, and thus education is free or almost free. And we use to consider western and central Europe "the west" too. |
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I love the sound of weak hands shaken out.
Really. I love it.
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People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more  These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now. How do you know that money is going to the exchange? The "total sent" is pretty low for the last days standards. Isn't there some tool trying to launder 96k BTC right now? Exactly. In fact the "total sent" has been insanely high for the last couple of weeks. |
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People are still panicking over 57000 BTC coming to exchanges ? waiting for the 3-6 confirmations, this means the price could crash even more These people could also very well calm down, read the news fully and formulate their reaction after seeing the initial sell off. Most of these people don't want to sell at the bottom either so there are no guarantees right now. How do you know that money is going to the exchange? The "total sent" is pretty low for the last days standards. |
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Update - they finally replied to the ticket, and said they will process the withdrawal soon. I don't think that these people are running off with our money, but they are having some serious communication issues.
If/When I get the wire, I'll post here.
Please do. I've also noticed that the bigger is the withdrawal, the longer it takes for them to process it... It's kinda disappointing. What about 7 figures? Did anybody try to withdraw a couple of millions from Bitstamp? I'm curious to see if they really have "no limits" for withdrawals as they advertise. |
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Does this look like Bitcoin cares about Bearish wedges?
Yes =) Looks like this one got a shot. I think that the Chinese authorities just played with us this time - they are testing how much control they can have over bitcoin. And they chose a point where a correction was easy to cause. No bitcoiner with half a brain gives a shit about what the authorities say about BTC. Speculators are just selling to buy back lower. Bitcoin was *designed* to be illegal, and to be resilient to authorities actions. Keep 'em coming  |
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I don't even understand why this is taken as bad news, its just neutral. Banks can't trade in bitcoins or take out insurance against them, hardly surprising. Individuals can do what they want but they accept the risk.
This is no change to how the rest of the world is working with Bitcoins. I'm surprised if any Chinese banks have invested in Bitcoins heavily anyway.
Nobody takes this as bad news. Speculators are just selling to buy back lower. |
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So, did we have a double top?
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The time to quit gambling is before you start.
I disagree, but oh well, I have gambled before, so I guess that is the gambler speaking. Gambling is a negative EV activity. Therefore the highest EV is 0 with 0 wagered. This unless you call Poker gambling like some people seem to do. Then it will totally depend on your skill and emotional stability. Well, I have made quite a lot playing Roulette. I always withdraw my initial deposit as soon as I win something. That way I won't lose it. Also I withdraw a part of my winnings every time I hit a certain threshold, plus I stop playing when I hit a streak or lose twice. Because of all those things I have made quite a buck, but most people just crack and try to get their losses back, which result in more losses. I don't want to be mean, but pure luck is why made quite a buck  (enjoy it though) Must be a shitload of luck then, because I have been doing this for months. Oh well  If you play long enough to a -EV game, you will lose. Always. That's pure hard math, and anything else a delusion. |
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-329 sucks to be you.
If you think the -329 sucks, check out the rest of the story. What story? Mechs is walking along casually and decides to make a paper wallet. Mechs gets bored with said paper wallet and throws it into the dumpster. Mechs is walking along casually with a significant amount of money invested in just-dice. One day, a whale named nakowa comes along and makes mechs lose a bunch of money on his investment. Mechs decides to withdraw his deposit out of frustration. Turns out, Mechs withdraws his deposit of over 1600 BTC to the paper wallet he threw out. After spending a while in despair, Mechs decides that he might as well literally dumpster dive to search for the paper wallet, and whaddayano he actually finds the thing. Mechs decides to take this newfound old money and gamble it on just-dice in a euphoria laced moment after he found the wallet. With alot of luck, Mechs turns his 1600-1700 btc into I think like 7000 BTC. Mechs then decides to gamble all of his money (7000) at 96% odds, a gamble that he loses. And that is the ending of a sad story. He was a gambler who didn't knew when to quit. The time to quit gambling is before you start. This. |
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Really don't get you guys. I bought my first coins the day after I first read about Bitcoin. I read about it like 24 hours in a row and bang, bought the first couple of them. Three days later, bought a little more... And so on. Just a little each time, but steadily and recurrently.
From the very first moment I understood I couldn't afford to not investing at least a few bucks, pocket change maybe, but I had to be in.
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First I think it is crazy that a court can make you share your assets with your ex-wife. You guys have some crazy laws in your part of the planet. I hear Berlusconni has to pay millions of Euros every month to his ex-wife as "alimony". I just don't see what the justification is for something like that.
But yeah your courts are strong and they will make your friend pay up. Bitcoins are considered money now and hiding assets there is no excuse. We learned that when the SEC charged pirate.
Berlusconi pays to his ex wife exactly 100k eur per day (3 million eur per month). |
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I also think that since litecoins are a ridiculous noninnovation, BTC people should really stop being so smug and move on to mBTC.
It is a shame to be beaten by ltc!
I think LTC is controlled by single wealthy entity. He was able to collect/create large amount of LTC (creating currency, using GPU mining), and now he can pump and only he can dump :-) (he is owner of majority of LTC ... smart ass :-) ). Satoshi has quite a big stash too. I guess that sooner or later we will end up knowing about him. |
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