Mt Gox all over again *** WARNING *** Heads up this rise is too fast

[worhiper_-_]

... there are good signs to indicate that the people buying bitcoins there don't really care to make profit straight from speculating on the price. ...

Yeah, they just need to score some bath salts & CP on DNM.

I don't know if you're serious or not, but two of the most bullish exchanges atm have put out announcements saying they're experiencing a surge in buy orders because of certain ponzi schemes that are very succesfull lately.

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[yolalanda]

... there are good signs to indicate that the people buying bitcoins there don't really care to make profit straight from speculating on the price. ...

http://s9.postimg.org/j684icsxr/99268907_Smeyus_64786264_freaks.gif

Yeah, they just need to score some bath salts & CP on DNM.

I don't know if you're serious or not, but two of the most bullish exchanges atm have put out announcements saying they're experiencing a surge in buy orders because of certain ponzi schemes that are very succesfull lately.

You mean this?

Yo Dawg, We Heard You Like Ponzi?
MMM Global Republic of Bitcoin added a Ponzi to your Ponzi. So's you can Ponzi while you Ponzi, apperently.

'Those who follow Ponzi schemes will immediately recognize the name MMM. In the 1990s, Russian fraudster Sergey Mavrodi ran one of Russia’s largest Ponzai schemes with the same name. Savvy marketing and promises of 1000%+ returns suckered tens of thousands of people into investing their savings in Mavrodi’s scheme. By 1994, when MMM’s offices were closed due to tax evasion, Mavrodi owed his investors beween 100 billion and 3 trillion rubles (between tens of millions and billions of dollars). Mavrodi spent a few years in jail, but by 2011, he was responsible for at least two other pyramid schemes.

Now Mavrodi is back in business, bigger and badder than ever. This time he is using Bitcoin.'

Those long-term investors?

[intristin]

FDIC ain't gonna protect you from price risk.  Even if every coin you buy is legit, the price may still drop precipitously due to the shenanigans of others.

I understand that, but that has nothing to do with Mt. Gox.

[worhiper_-_]

... there are good signs to indicate that the people buying bitcoins there don't really care to make profit straight from speculating on the price. ...

Yeah, they just need to score some bath salts & CP on DNM.

I don't know if you're serious or not, but two of the most bullish exchanges atm have put out announcements saying they're experiencing a surge in buy orders because of certain ponzi schemes that are very succesfull lately.

You mean this?

Yo Dawg, We Heard You Like Ponzi?
MMM Global Republic of Bitcoin added a Ponzi to your Ponzi. So's you can Ponzi while you Ponzi, apperently.

'Those who follow Ponzi schemes will immediately recognize the name MMM. In the 1990s, Russian fraudster Sergey Mavrodi ran one of Russia’s largest Ponzai schemes with the same name. Savvy marketing and promises of 1000%+ returns suckered tens of thousands of people into investing their savings in Mavrodi’s scheme. By 1994, when MMM’s offices were closed due to tax evasion, Mavrodi owed his investors beween 100 billion and 3 trillion rubles (between tens of millions and billions of dollars). Mavrodi spent a few years in jail, but by 2011, he was responsible for at least two other pyramid schemes.

Now Mavrodi is back in business, bigger and badder than ever. This time he is using Bitcoin.'

Those long-term investors?

Yes, this is what I mean. And if this is what's causing the current price rise, then god save the people that bought at the top. Such buyers only care about cashing out.

[mcplums]

You may be right OP, but then again there could simply be a bull whale behind the scenes.

There are hundreds of thousands of people on Earth who could cause a huge and sustained price increase by deciding to put 1% of their wealth into bitcoin, not to mention governments. I'm not sure why this hasn't happened already to be honest (or maybe it has and the price would be $50 if they hadn't, but my point still stands).

[!! pop]

...
Yes, this is what I mean. And if this is what's causing the current price rise, then god save the people that bought at the top. Such buyers only care about cashing out.

Ah, sorry, misunderstood you.

[Tstar]

This is the one! this is gif that was always on this forum around 2013 during the pump!
 

In any case, I don't know whether or not there's a mt.gox risk again but the thing is that we have more than a million BTC trading volume out there.
That's a fact.

[doublemore]

Whats interesting about this potential price bubble is its the first time we've had one without mtgox being say 80%+ in charge of everything.  It will be interesting to see how the other exchanges cope with the situation but now we have many to choose from.

[1Referee]

Everything may look like MtGox, but as long as people can withdraw BTC and fiat without problems, there is nothing to worry about. Everything that goes up this quick, can do down even faster. Just make sure you don't buy at the peaks.

[criptix]

There is a gap of 30$ in price across the exchanges and the price drivers are mainly OKcoin and Huobi rest of them are just followers.

I bet there is Mt Gox type of situationg going on again price is being pumped with faked transactions fiat/bitcoins.

http://coinmarketcap.com/currencies/bitcoin/#markets

Just watch it. I suspect these 2 exchanges.

So how much are you exactly willing to bet?

[dothebeats]

This is the one! this is gif that was always on this forum around 2013 during the pump!
 

In any case, I don't know whether or not there's a mt.gox risk again but the thing is that we have more than a million BTC trading volume out there.
That's a fact.

Yup, can't just disregard that fact. That simply means that there is still more energy out there to make more money out of this rise. Chinese are very keen on profits, so they will maximize it with bitcoins this time.

[!! pop]

... Chinese are very keen on profits, so they will maximize it with bitcoins this time.

Unlike occidentals, who couldn't care less.

[uki]

Everything may look like MtGox, but as long as people can withdraw BTC and fiat without problems, there is nothing to worry about. Everything that goes up this quick, can do down even faster. Just make sure you don't buy at the peaks.

the point is, once you realise you are not able to withdraw your money it is already too late. That is why people are overreacting right now, looking for the early signs that something is going on. Tinfoil hat guys included. But, unless you have some insider info, it is nearly impossible to know that well in advance. The only way to be sure that you won't be robbed is to always have your stash under control and offline. 

[WilderX]

This is the one! this is gif that was always on this forum around 2013 during the pump!
 

In any case, I don't know whether or not there's a mt.gox risk again but the thing is that we have more than a million BTC trading volume out there.
That's a fact.

How do you know it's a fact? That data is coming from the exchange and NOT from the blockchain... There is no transparency.

I would not hold any fiat or crypto in OKCoin or Huobi they could freeze their operations at any given time and claim they have been hacked and millions of BTC gone to the abyss.