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

[JorgeStolfi]

PS. There are two threads, at least, on this forum about the Sunlot plan and people:

  SaveGox.com

  More proof that savegox.com is a sham

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[KFR]

Jorge you no longer have sufficient credibility to start calling bona fide computer scientists priests and cultists just because you don't understand their discipline any more.  Not so much neo-luddite as neolithic luddite.

[xulescu]

PS. There are two threads, at least, on this forum about the Sunlot plan and people:

  SaveGox.com

  More proof that savegox.com is a sham

Add one more https://bitcointalk.org/index.php?topic=594826

Given that the Foundation is no longer trustworthy IMO this looks like just the next step in the long con. It's even worse if the PTB are behind Sunlot - don't forget how much private data Gox had. Witch hunting anyone?

[Bitcoin_is_here_to_stay]

I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".

Can anybody sane could be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?

[ChartBuddy]

Explanation

[JorgeStolfi]

I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".

Can anybody sane be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?

They do not intend to assume that 650'000 BTC debt.   Check those threads.

[solex]

I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".

Can anybody sane could be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?

Sunlot want to pay 1 btc, not 650k btc. They want control of the supposedly 200k btc left (assuming the private keys can be extracted from MK) which would be used to restart the exchange with the intention of paying 650k back to all those who are owned money. That would take years of exchange profits. Color me surprised if 2 years later the 200k is spent and only a tiny fraction of 650k is earned back for disbursement.

[p0peji]

I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".

Can anybody sane could be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?

Sunlot want to pay 1 btc, not 650k btc. They want control of the supposedly 200k btc left (assuming the private keys can be extracted from MK) which would be used to restart the exchange with the intention of paying 650k back to all those who are owned money. That would take years of exchange profits. Color me surprised if 2 years later the 200k is spent and only a tiny fraction of 650k is earned back for disbursement.

Or they 200K BTC gets moved through some dodgy scheme and then they file for bankruptcy again.

[mmitech]

becuae I banned my self from that joke's thread, I am going to post this here just for the laughs and giggles

The thread shows a poster example how one system would have performed during the downtrend of the past few months. The "track record" is impressive but we have to remember that I started from the data and honed the parameters with trial and error method to give the best results. In real world, spotting the downtrend correctly, guessing the parameters upfront, and executing without slippage would have diminished returns greatly.

I cannot sell my own signals because Bitstamp's average volume is BTC764 per hour. The system gives signals based on the last 2 hours market data and assumes that you can execute at the closing price. The signals are always in direction of the trend, so you will have to buy/sell quickly to avoid slippage, and your own actions cause more slippage. If I would use this, I want to allocate as many coins to it as possible, and that is less than I wanted.

The configurable excelsheet is for sale for BTC5, including tutorial in skype chat.

so who will pay 5BTC for that ? it is very cheap, almost free  

[Carra23]

Go up or go down, this is getting tiring now.

Maybe the exchanges would start manipulating to increase volumes

[adamstgBit]

so no one is going to get gox coins instead they'll get a tiny piece of the new but not improved MtGox that will go under a few months after it reopens

[dreamspark]

You should head into the #mtgox-talk irc channel to find out all the details of sunlot and their plans. It stinks to be honest.

They also want to spend $10mm on the investigation of the 'theft'.

[klee]

Undead Karpeles

[cech4204a]

You should head into the #mtgox-talk irc channel to find out all the details of sunlot and their plans. It stinks to be honest.

They also want to spend $10mm on the investigation of the 'theft'.

wtf , which investigation costs $10m ? omfg, get that Mark Karpeles in the fucking jail and rape him with BTC

[adamstgBit]

You should head into the #mtgox-talk irc channel to find out all the details of sunlot and their plans. It stinks to be honest.

They also want to spend $10mm on the investigation of the 'theft'.

gox users get goxed then gox spends all the remaining gox coins to produce a 2 page report about how they couldn't figure out why everyone was goxed.

goxed to infinity!

[kurious]

so no one is going to get gox coins instead they'll get a tiny piece of the new but not improved MtGox that will go under a few months after it reopens

Agreed - these guys are not heroes come to save us.

It's 1 (yes, one) Bitcoin to take over control of 200,000 and do what they want with them.

Simple.   I honestly doubt anyone who was goxed will see very much, if any compensation.  

The only difference to Gox part 1 is that this lot will do it 'legally'.

[ChartBuddy]

Explanation

[adamstgBit]

i'll bid 2 btc and just give out the 200,000BTC to there rightful owners

everyone cool with a 10K BTC un-goxing service fee??

where do i bid?

[oda.krell]

becuae I banned my self from that joke's thread, I am going to post this here just for the laughs and giggles

The thread shows a poster example how one system would have performed during the downtrend of the past few months. The "track record" is impressive but we have to remember that I started from the data and honed the parameters with trial and error method to give the best results. In real world, spotting the downtrend correctly, guessing the parameters upfront, and executing without slippage would have diminished returns greatly.

I cannot sell my own signals because Bitstamp's average volume is BTC764 per hour. The system gives signals based on the last 2 hours market data and assumes that you can execute at the closing price. The signals are always in direction of the trend, so you will have to buy/sell quickly to avoid slippage, and your own actions cause more slippage. If I would use this, I want to allocate as many coins to it as possible, and that is less than I wanted. :(

The configurable excelsheet is for sale for BTC5, including tutorial in skype chat.

so who will pay 5BTC for that ? it is very cheap, almost free  :D

Yeah, what could possibly go wrong... a handcrafted volume change/candle size based (or something similarly naive) algo, backtested only on the recent month or two ("careful kids, it only works during downtrends!"), excluding fees and slippage in the calculation. Now on sale, for 5 BTC!

I really hope that whoever is inclined to spend that amount gets, say, waveaddict's newsletter instead, for a fraction of the price, and a multiple of the effect most likely :D

[rpietila]

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