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JorgeStolfi
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May 27, 2014, 05:35:08 PM |
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It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...
Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem. That is utter bullshit, please stop repeating it. I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total. In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone. Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least. So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud. |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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ChrisML
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May 27, 2014, 05:36:07 PM |
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Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? 
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hyphymikey
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May 27, 2014, 05:38:01 PM |
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I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.
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seldon
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May 27, 2014, 05:38:20 PM |
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Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? +1 This thread needs a kickban function |
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Arghhh
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May 27, 2014, 05:39:11 PM |
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Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? +2 He's a paid bank shill. |
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ShroomsKit
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May 27, 2014, 05:39:35 PM |
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I can't believe there are still people here who have that guy not on ignore.
I find most of these dingbat trolls to be at least mildly amusing. Some are occasionally hilarious. Only one is such an arrogant scumbag that I put him on ignore. Guess who.  Rpietela? LOL No. He may have overly high self esteem but he's not a troll. I'll give you a hint. It's someone whose forum name rhymes with ShatTheTwat. Haha ok. I can't recall any of his posts so i think i put him on ignore real fast. |
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Broseph Stalin
Member
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Activity: 65
Merit: 10
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May 27, 2014, 05:39:45 PM |
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Stamp, tear down this wall! $590 - 531.38476183 BTC  |
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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May 27, 2014, 05:40:00 PM |
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It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...
Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem. That is utter bullshit, please stop repeating it. I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total. In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone. Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least. So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud. You are comparing cc fraud /now/, in a mature e-commerce environment to btc fraud as commited in a nascent Bitcoin environment. If you really don't see any problem with that comparison, go ahead, but don't complain if people accuse you of biased perception. Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? No, I'd rather not. Jorge is certainly stubborn and probably biased, but intelligent and polite. I enjoy the discussions with him. |
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ChrisML
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May 27, 2014, 05:40:42 PM |
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I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.
It's crawling up... by $0.10 a minute  We will get there, wherever that may be. |
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ShroomsKit
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May 27, 2014, 05:41:18 PM |
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600 needs to go or we will eventually go down again i think.
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dreamspark
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May 27, 2014, 05:41:21 PM |
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I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.
Out of interest. New shorts are opened all the time so as one closes another one opens per se, what would you consider a small number of lent BTC (bear in mind BTC provided != a short on the market as you can hold liquidity and just pay the interest on it, with BTC that rate of interest is very low so people often take BTC loans at very low rates when they think they may need it soon) |
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rafamadeira
Member
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Activity: 79
Merit: 10
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May 27, 2014, 05:41:48 PM |
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Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? I think that while Jorge keeps bringing information is valid to discuss .. It may take a while, maybe a few months, but at some point people (aka Jorge, in this case) will understand the idea. |
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JorgeStolfi
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May 27, 2014, 05:42:52 PM |
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Jorge, continuo à disposição para conversar se for do seu interesse aprender.
history repeats itself
Igualmente, meu caro.  |
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keithers
Legendary
Offline
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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May 27, 2014, 05:43:56 PM |
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We need to see this $600 being broken TONIGHT. Lets do this sheebs.
Yes. Tired of the $500's!  Yes, but the $500s is significantly better than the $400s which we were sitting at for what felt like an eternity (despite not that long in real time)... |
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Torque
Legendary
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Activity: 3556
Merit: 5041
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May 27, 2014, 05:44:35 PM |
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It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...
Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem. That is utter bullshit, please stop repeating it. I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total. In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone. Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least. So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud. One reply then ignore. So you are going to compare the CC industry that has had 55+ years to mature, with ever increasing oversight, regulation, and fraud prevention in the multi-billions of dollars per year, with Bitcoin? A brand new payment system that's only been around for 5 years and little to no industry or worldwide regulation yet? Apples and Oranges dude. A better comparison would be to the U.S. Wildcat frontier banking system during the 1800s. |
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molecular
Donator
Legendary
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Activity: 2772
Merit: 1019
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May 27, 2014, 05:46:44 PM |
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Having observed many rallies in bitcoin (and none anywhere outside of cryptos), this one feels like it's happening in slow-motion?
A correction like we just had today and recovery from it used to happen both earlier and faster the way I recall the past rallies.
Is it just me? What could be possible explanations? Higher liquidity? lower amount of traders? Better distributed holdings?
(I'm not saying I don't like the relatively slow pace)
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keithers
Legendary
Offline
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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May 27, 2014, 05:47:45 PM |
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600 needs to go or we will eventually go down again i think.
I am still thinking $585 is the mark to beat. We have passed it a few times last night, but then keep falling below, and fighting to get back to $585. Shouldn't be a psychological level there, but it definitely seems like the ceiling we need to break... |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 27, 2014, 05:48:37 PM |
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586 . OMG BUY BUY BUY!
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ChrisML
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May 27, 2014, 05:48:53 PM |
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600 needs to go or we will eventually go down again i think.
I am still thinking $585 is the mark to beat. We have passed it a few times last night, but then keep falling below, and fighting to get back to $585. Shouldn't be a psychological level there, but it definitely seems like the ceiling we need to break... We might break it in the next minutes. |
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dreamspark
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May 27, 2014, 05:48:55 PM |
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600 needs to go or we will eventually go down again i think.
I am still thinking $585 is the mark to beat. We have passed it a few times last night, but then keep falling below, and fighting to get back to $585. Shouldn't be a psychological level there, but it definitely seems like the ceiling we need to break... lol. The walls moving up helped that one out. $600 is still the barrier IMO |
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