Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[KFR]

Still not ready to do it, eh?

Up one level.  Are you trying to argue that there is no risk that other exchanges will go MtGOX's way?

No.  You've made that up entirely.  I'm not the one overstating his position here.  

Once more, for the cheap seats, you said "none of them have even tried to do anything about being transparent."

I'm having to paraphrase for risk of repeating it yet again.  I said, "BS - here's two that have."

Now you're trying to shift the argument to "So none of the others are at risk, then?"

Well, I'm not playing.  I can stick to what I've said all along - can you?

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[zyk]

why did they all knew of Mt. Gox being insolvent when the faked 2 bitidiot came out and made patently clear they of course are not

English please.

"Working on Bitcoin's core code is really scary, actually, because if you wreck something, you can break this huge $8 billion project," says Andresen. "And that's happened. We have broken it in the past."

Thanks for that, but I was wondering if someone could translate this: "why did they all knew of Mt. Gox being insolvent when the faked 2 bitidiot came out and made patently clear they of course are not " to English?

sometimes reading is not enough....to be really satisfied, you got to take the sentences read as a kernel for your own cascade of thoughts

theretofore its productive in the first place to have more then one possibility when thrown in translation endeavours...

[TakeTheSkyRoad]

OK, so enlighten me: how many BTC does Bitstamp own, and how many does it owe its clients (i.e. what is the sum of the BTC balances of their clients' accounts)?  Ditto for BTC-e and Bitfinex.

Don't know, if posted already:

https://www.bitstamp.net/article/statemen-regarding-recent-third-party-audit-report/

I see.  For you "audit" means a statement by the company that they have done an audit and everything was OK.   So it was only a misunderstanding on the meaning of that word, sorry.

The audit was by a 3rd party who look to be the backing company/investors.
I suggest you read the posts you link to.

The statement from the auditing company can be found here :

https://www.bitstamp.net/s/documents/Firestartr_DD_Letter_for_Bitstamp.pdf

The transaction in question is here :

https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

The auditing company is as follows :

http://www.firestartr.co/

My source for this are as follows :

http://www.coindesk.com/bitstamp-audit-proves-behind-147m-mystery-bitcoin-wallet/
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/

You can of course call into question the integrity of the Auditor.

[JayJuanGee]

OK, so enlighten me: how many BTC does Bitstamp own, and how many does it owe its clients (i.e. what is the sum of the BTC balances of their clients' accounts)?  Ditto for BTC-e and Bitfinex.

Don't know, if posted already:

https://www.bitstamp.net/article/statemen-regarding-recent-third-party-audit-report/

I see.  For you "audit" means a statement by the company that they have done an audit and everything was OK.   So it was only a misunderstanding on the meaning of that word, sorry.
[/quote]


Even though they do NOT provide a number, it is quite amazing if any exchanges are holding, in trust between 1 and 2 million bitcoins....

[Solarstorm75]

OK, so enlighten me: how many BTC does Bitstamp own, and how many does it owe its clients (i.e. what is the sum of the BTC balances of their clients' accounts)?  Ditto for BTC-e and Bitfinex.

Don't know, if posted already:

https://www.bitstamp.net/article/statemen-regarding-recent-third-party-audit-report/

I see.  For you "audit" means a statement by the company that they have done an audit and everything was OK.   So it was only a misunderstanding on the meaning of that word, sorry.
[/quote]

Definitely not! I'm dissapointed by this statement.

[Vigil]

I love how everyone is double-spacing after their periods now.  Its like a blast from the past.

You're pretty unlikely to find anything where I don't do that.  Old habits die hard and, as many here have pointed out, if you learned to type when typewriters and word processors were still a thing, it's pretty standard behaviour.

I did, as I commented earlier. I actually can remember back to a time when I was debating whether to use single or double spaces in a report and then someone telling me that you don't need to double space anymore. Not sure of the exact date or other details surrounding that though. I haven't been using double space since that time.

[Solarstorm75]

@TakeTheSkyRoad

Thx!

[JorgeStolfi]

You know it wasn't.  The cognitive dissonance on display here is astounding.

I immediately threw up two links - which you yourself could and should have known about that clearly demonstrated at least two "exchanges volunteering to give a rough idea of their financial position."

So.  No.  It wasn't factually correct.

It was presented as so.  

Cognitive dissonance is quite an euphemism.

One of those links (Coinbase) did not give that information.

The other one is a new exchange that is not even listed in the usual chart services.

(MtGOX too used to show balance sheets, IIRC the last one was in mid-2012.)

But again, before we continue this fruitless debate, can you explain what is your real point?  Do you have any connection to any of those exchanges?

[FullLife]

Don't know if this has been posted already or if it contains any new info:

www.dailytech.com/Bitcoin+King+Mt+Gox+CEO+Mark+Karpels+History+of+Arrests+Firings/article34442.htm

[Davyd05]

You know it wasn't.  The cognitive dissonance on display here is astounding.

I immediately threw up two links - which you yourself could and should have known about that clearly demonstrated at least two "exchanges volunteering to give a rough idea of their financial position."

So.  No.  It wasn't factually correct.

It was presented as so.  

Cognitive dissonance is quite an euphemism.

One of those links (Coinbase) did not give that information.

The other one is a new exchange that is not even listed in the usual chart services.

(MtGOX too used to show balance sheets, IIRC the last one was in mid-2012.)

But again, before we continue this fruitless debate, can you explain what is your real point?  Do you have any connection to any of those exchanges?

yeah and if they were robbed in Feb 2014 you can see how those two points in time are un-related in the sense of auditing quality.

let's just let the bankruptcy proceedings play out, unless it was Fud the Japanese gov. said no creditor was ahead of another in the gox repayment process.

Jorge your feverish attack on this audit process, again has nothing to do with bitcoin, it is the same type of person who could swindle with gold, cash, commodities and sheer lies that use tactics like lying and stealing, bitcoin just allows us a better method of auditing via the blockchain, no creative accounting likes of which the Corporate world survive on.

It pains me to admit that bitcoin can't make people more ethical, altruistic or trustworthy. These are things that each person develops or doesn't on their own in society.

[KFR]

You know it wasn't.  The cognitive dissonance on display here is astounding.

I immediately threw up two links - which you yourself could and should have known about that clearly demonstrated at least two "exchanges volunteering to give a rough idea of their financial position."

So.  No.  It wasn't factually correct.

It was presented as so.  

Cognitive dissonance is quite an euphemism.

One of those links (Coinbase) did not give that information.

The other one is a new exchange that is not even listed in the usual chart services.

(MtGOX too used to show balance sheets, IIRC the last one was in mid-2012.)

But again, before we continue this fruitless debate, can you explain what is your real point?  Do you have any connection to any of those exchanges?

Forgive me if my point was unclear.

I was asking you to be more intellectually honest.  I was observing that people who claim to be serious academics should either a) refrain from deliberately making factually incorrect assertions or b) make it clear when they are merely proffering unresearched opinion or comment.  I guess a third option would be to honestly disclose their bias and/or agenda so that readers can take it into account.

Saying things that aren't true is one thing but dodging, shifting and trying to misdirect when you're called on their inaccuracy demonstrates, to me at least, a clear bias.


P.S. No, I don't have any connections to any exchanges other than usage and perhaps indirectly knowing some of the people involved in their management as many here do also.

[JorgeStolfi]

Don't know, if posted already:

https://www.bitstamp.net/article/statemen-regarding-recent-third-party-audit-report/

I see.  For you "audit" means a statement by the company that they have done an audit and everything was OK.   So it was only a misunderstanding on the meaning of that word, sorry.

The audit was by a 3rd party who look to be the backing company/investors.
I suggest you read the posts you link to.

The statement from the auditing company can be found here :

https://www.bitstamp.net/s/documents/Firestartr_DD_Letter_for_Bitstamp.pdf

[ ... ]

You can of course call into question the integrity of the Auditor.

I give up.  We are not writing in the same language.

http://en.wikipedia.org/wiki/Financial_statement
http://en.wikipedia.org/wiki/Financial_statement#Audit_and_legal_implications

[KFR]

I give up.  We are not writing in the same language.

I know the feeling.

[zyk]

I don´ t want that the craptofuck revolution has been hijacked and sold out by criminals and mercenaries to the status quo.... :-))

our beloved Sathosi couldn´t stand it as well..

but thats what happened....hide women and kids...GTFO....until remember remeber the 5 th of November

[Davyd05]

All Jorge's comment on the accounting practices of current exchanges does is prove that the first exchange with proper financial reporting and third party audits will be flocked to, due to sheep like trust, lol

[Walsoraj]

Back on topic.

When will Satoshi crash the market, and should I place my bids in the double or single digit range?

[KeyserSoze]

poor fella...
"there were reportedly journalists camped out in front of Nakamoto’s Southern California home"
http://rt.com/usa/satoshi-nakamoto-bitcoin-newsweek-250/

[gog1]

with his identity revealed, chance of a 'dump' or sell for money to assume a new life increased.  so I guess the fall is 'justified'

[optimi]

Back on topic.

When will Satoshi crash the market, and should I place my bids in the double or single digit range?

Do what you want but to me this is extremely bullish:

https://i.imgur.com/get1VDy.jpg

[TakeTheSkyRoad]

Don't know, if posted already:

https://www.bitstamp.net/article/statemen-regarding-recent-third-party-audit-report/

I see.  For you "audit" means a statement by the company that they have done an audit and everything was OK.   So it was only a misunderstanding on the meaning of that word, sorry.

The audit was by a 3rd party who look to be the backing company/investors.
I suggest you read the posts you link to.

The statement from the auditing company can be found here :

https://www.bitstamp.net/s/documents/Firestartr_DD_Letter_for_Bitstamp.pdf

[ ... ]

You can of course call into question the integrity of the Auditor.

I give up.  We are not writing in the same language.

http://en.wikipedia.org/wiki/Financial_statement
http://en.wikipedia.org/wiki/Financial_statement#Audit_and_legal_implications

Well done you can access wikipedia.

Please point out how your (or the wikipedia) definition of an "audit" differs from the documents demonstrated above.
Without this your post is to be honest pretty meaningless