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silver can be controlled by government, aaccording to max kaiser, the silver should be 300 now buy government is undervalue it
How are BTC immune to the same type of manipulation? How do we know that this drastic price inflation isn't a result of government manipulation? It's hard to take your comment seriously when you claim government control without explaining why or even how they control it. Thanks great question! the reason is because there is incentive for people to allow their silver to be helled by a third party since it is very difficult to change ownership of physical silver in a global market. With btc on the other hand there is no incentive for individuals to allow a third party to hold their bitcoins for them, since we can exchange them with anyone we like without relying on an intermediary. what this means is that since all the silver is held in a central repository it is easy for that repository to lie about how much silver they have. But what about people who own their own silver in safes/deposit boxes? Silver and gold have been traded and given value for thousands of years. It's understood that they have value and always will. However my question was how can we be sure that the government isn't manipulating the btc market the same way they do the commodity market? |
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silver can be controlled by government, aaccording to max kaiser, the silver should be 300 now buy government is undervalue it
How are BTC immune to the same type of manipulation? How do we know that this drastic price inflation isn't a result of government manipulation? It's hard to take your comment seriously when you claim government control without explaining why or even how they control it. Thanks |
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I think this is very possible, however would they really print more money to do so? BTC is the enemy of the USD, and thus those invested in the dollar. They have the real power, not us. They will control it as they see fit. There is no room for economic revolutions and anyone thinking otherwise is naive and biased.
No, they will not get us rich in the process. Why would they do that? They will find ways to get you in a disadvantageous position and then scalp you. Plain and simple. They might even let it get to $5,000 and then fabricate a massive sell-off. This sell-off might not happen for years to come. It might happen tomorrow. We never know, and that's the power they have.
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Why would anyone use a BTCif it's worth $1000 and expected to go up?
Just like how people with gold say they can sell/trade gold when times get tough, I hear BTC enthusiasts with similar responses. Gold is so high partially because the dollar it is pegged up against is so low. If it came down to trading gold for bread/food/water, how much do you think you'd really get for a little coin if there is no global marketplace to regulate price? If BTC are $1,000 a pop, and if you're looking to really buy something with these coins I have two questions: Why would you spend your coins if there is a mass expectation of more value in the future? and are we really going to shave off parts of a BTC to pay for this stuff?
I've been around BTC since they were in the $4-5 range. Now I wake up and see $235. With an increased price, we'll have to keep an eye on extra decimals because now those fractions of a BTC have more "value".
If all of your BTC is on paper or the internet, how would you use them if there is no power? How would an EMP bomb, let's say as a result of a new war, affect BTCmining/trading/use? How feasible is it that this currency will claim and even maintain a strong position in the global economy, and by a strong position I don't mean a bunch of nerds having nerdgasms over a speculative marketplace...I mean where it is accepted for payments in many of the major countries and where people know what I'm talking about without having to send links and/or paragraphs explaining it.
Any response will be appreciated. Thanks
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How can everyone be sure it will rise to $500/BTC-$5000/BTC? These are just random numbers people think of. Where's the research to back those projections? If you're long, you're long. Plain and simple. Everyone's getting on the OP's case because the price of BTC has gone up since he posted a sell post. How could anyone have predicted whether or not it would have gone up or down $10-20 that day? Everyone seems like trolls the way they blindly support a long position on BTC. BTC will never reach $5,000USD and if it does it'll be a result of a professional pump-and-dump done by big banks and governments.
BTC isn't tamper-proof. What would happen if i placed a buy order for as many BTC as possible? The price would increase due to a greater demand. What if I sold all the BTC I just bought after making a small profit? Could that create a panic-sell across the boards? How confident would everyone here be if the market crashed down to $25 a coin? Everyone buying now and expecting a price of $1,000 in a few months will be slaughtered and forced to realize a dramatic loss.
The wolves of the world will fleece the sheep trying to roam the same pasture.
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Yeah, I also sold all bitcoins today (all 1318) and set buy order at $27. See you soon, suckers  How do you sell that amount at once? At a price of $160, selling 1300 BTC would net $208,000 before any fees are taken out. A big fear of mine with BTC is the fact that even though they have FLOWN to new heights, it doesn't seem feasible to cash them out. Everyone is rich now who was an early adapter but it's all on paper and there aren't many respectable ways to spend the BTCs. Here's a question for anyone willing to respond: "How can anyone be secure in BTC when it's unregulated?" For instance, they aren't backed by anything of real value. They aren't widely accepted. They are a direct competitor of the USD and other worldwide currencies controlled by governments. How are BTC safe from attacks from said governments, or even from hackers? What if the American banks/government have been buying up any BTC they can, driving the price up? What will prevent them from dumping after they pump it all up? How are BTC able to avoid the manipulation that every other currency/stock/fund/commodity is vulnerable to when the "big boys" want something to happen in their favor? How will BTC be able to grow as a currency when the price flucuates WILDLY on a regular basis? |
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You came to them for a reason. Reporting them to BBB for a SMALL issue isn't proper in my opinion. If you have to wait a day or two, it's not a big deal. Yes, I came to them for a reason. So that I could have my BTC within two or three hours. Not so that I could pay them for BTC and only receive it 24 hours later due to me harassing them, and then on top of that to not receive the full amount of BTC that I paid for. This is not a SMALL issue if they are doing it to numerous people every single day. If they screw up 100 people's transactions and delay them for a day or longer, then they are potentially making THOUSANDS of dollars in pure profit just by these unfortunate "errors". That's free money for them and that free money has been going into their accounts for a LONG time judging by people's posts here. This is exactly how to skim money. The price of BTC is higher now than it was when ANY of you bought yours from BitInstant in the last few days, so even if you weren't refunded your 3.99% fee, you're still in the green or black. BitInstant makes too much money being an industry leader...why would they scam individuals for less than $500? Yes, the price of BTC is higher now than when I purchased my coins, which means that what I purchased gained value. However, everything that you typed is irrelevant because if they had paid me the correct amount of BTC that they owed me then I would have profited even more. So they have cost me money as they sold me BTC at higher rates than what I paid for them a day earlier. That's the main issue. That is money that they pocketed on top of the transaction fee. That is money that is supposed to be mine. My guess is that all the extra money generated by these "errors" and sitting on people funds for days at the time is being diverted into someone's personal account at BitInstant. Yankee said the price you were quoted is what it was when you first sent the transaction through. If you sent it through at $24/coin, and it's not $27/coin, they send you coins at the price of $24/coin. They aren't just holding money in escrow until the price goes up to skim profits, because what happens when the price goes down? They just lose money? And all that complaining over $40 when you bought 12x that? Get a life bro you're right, if someone took $40 from me on the street I'd be pissed, but then again I can't buy coins on the street, and I don't put myself in situations where someone could take money from me. If BitInstant were a small, new company I'd be worried, but they are an industry giant. Like Yankee said, he refunded you 2 coins? At market price that's over $50 so now YOU profited off their issues and YOU look like an asshole when all Yankee is trying to do is help people while his company is under attack from DDOSers |
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What's up with all these people threatening to call the law? BitInstant is a huge exchange. They were the victims of hacker games. We've all seen Yankee personally handle all of the issues brought forth in this section and I commend him for that.
Of course I had a slight panic when I didn't see my coins after 2 days but that's only natural when your expectations are so high. They usually offer the best service in the business.
You came to them for a reason. Reporting them to BBB for a SMALL issue isn't proper in my opinion. If you have to wait a day or two, it's not a big deal. The largest transaction is $500, so even if it was a fraud case you're not losing your life savings. The first rule in BTC is don't buy bitcoins with money you can't afford to lose. The market isn't 100% stable and can technically crash at any time. It can also shoot up at any time. BitInstant is currently paying out coins that were bought at $23-26 and the current market price is $27, so be easy people.
The price of BTC is higher now than it was when ANY of you bought yours from BitInstant in the last few days, so even if you weren't refunded your 3.99% fee, you're still in the green or black. BitInstant makes too much money being an industry leader...why would they scam individuals for less than $500?
Thanks again Yankee!
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Just received my coins in my wallet, and awaiting confirmation.
Spent $105 and was supposed to receive $100 worth of coins, at $26/coin 2 days ago. I was given 3.83 coins at the current market price of $27.1 which is $103.
If you have an issue, just PM Yankee and he'll take care of it shortly. The market is crazy now with SO much volume and unstable prices. I'd hope they didn't buy them with my money at $23 last night and then sell them to me for $27 just now, but being a conspiracy theorist never got anyone anywhere :-)
I'll continue to do business with BitInstant because even if it took some extra time, I've received my coins and even though the email support for the website didn't yield any results, the fact that Yankee has been manually handling these cases on here says something.
Thanks Yankee
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Hey guys,
I created an account to voice my concern. I also am having issues with BitInstant. I sent $105 via MoneyGram ---> ZipZap ---> BTC wallet. I received confirmation emails from ZipZap, and usually BitInstant has my funds available or confirming by the time I get home from sending the money. This was not the case this time. I asked their LiveAgent and he said to look out for it and if the funds weren't there the next night, I'd get a refund.
It's the next night, and I sent an e-mail and got the same response. Wait a night and get back to us. I'm waiting for another reply. It's frustrating because I watched the BTC price fly around from slightly over $26 to slightly under $23 and then back up again. If it drops again before I get my funds, I might not be able to spend them how I intended to and therefore I'll have to make ANOTHER purchase and pay more commissions.
I know $105 is not a ton of money, but I've probably bought more than $4,000 worth of BTC over the last 6 months with BitInstant. I'd hate to lose that relationship.
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