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zyk
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February 24, 2014, 07:23:43 PM |
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To an extent I agree I do not think this is a Higlander scenario
There can be more than one
Money is the ultimate network effect. How is any other crytpcoin supposed to have less volatility than the one with the largest market cap? If volatility slows adoption, and I think we all agree that it does, then it's a huge hurdle to overcome. Not volatility slows adoption...as majorly fucktards of speculators are using any coin first...its even appreciated for first adoption... But when you can be sure that the owner of any high cap exchange can insider trade and will run when the heist is big enough to pay out cronies and laywers, then you may be more inclined to use something that works even faster for transfering value from one point in the world to another ----- for buy and hold no craptofuck is suited which is more expenvive than their creation cost ! So LITECOIN is overvalued as well,sorry, but bitcoin 10 times more ! GTFO |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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EuroTrash
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February 24, 2014, 07:26:50 PM |
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my guess:
mtgox and karpeles are under criminal investigation ...
whatever the case let's not forget Gox is the victim here. They are the victim of their own success! I can see how a fat overconfident nerd with low social skills, who happened to have stepped on this very powerful "bitcoin" toy, could end up isolating himself while digging his own paranoid prison. Now someone please turn my monitors off and get me out of here! |
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KeyserSoze
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February 24, 2014, 07:31:32 PM |
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my guess:
mtgox and karpeles are under criminal investigation ...
whatever the case let's not forget Gox is the victim here. They are the victim of their own success! I can see how a fat overconfident nerd with low social skills, who happened to have stepped on this very powerful "bitcoin" toy, could end up isolating himself while digging his own paranoid prison. Now someone please turn my monitors off and get me out of here! lol... for non-"old timers" who may not be in on the "victim" joke... https://www.mtgox.com/press_release_20130411.html |
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deadfi$h
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February 24, 2014, 07:32:29 PM |
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I think they fixed the thing where you could make huge walls without actually having enough money on Bitfinex.
I had a short position of 20 BTC, from $625 down to $555, where I have just exited it. Although I only had only short sold 20 BTC, at one point I had like 100 BTC worth of limit orders on Bitfinex, all of which show up on order book. I wasn't trying to manipulate or anything, I was just kind of getting my shit together and trying things on for size. If many of the Bitifinex traders are doing similar things to this, then no wonder the bid walls are so distorted and misleading....let alone the effect that bots doing it on purpose in order to mislead might have. They aren't false walls though. It would have filled each of your limit orders and drained all your fiat, reversing your position from -20BTC to +80BTC. The system checks that you have enough margin available for all orders... does for me at least. |
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delphic
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February 24, 2014, 07:33:30 PM |
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OK, here is my completely theoretical unsubstantiated contribution to the FUDchain:
BitCoinBuilder is in fact Karpeles.
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KeyserSoze
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February 24, 2014, 07:36:20 PM |
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OK, here is my completely theoretical unsubstantiated contribution to the FUDchain:
BitCoinBuilder is in fact Karpeles.
I think you forgot to add that Mark is also Illuminati. |
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bambou
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February 24, 2014, 07:36:41 PM |
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are we going to have that same rebound at 630 on stamp or are we going lower  |
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equipoise
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February 24, 2014, 07:39:14 PM |
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However [ MtGOX ] most probably have much more from fees than the amount they lost also stored offline
... Moreover, whatever is left of their feee revenue after paying salaries and other expenses is surely pocketed by the owners as profits --- and not left in MtGOX corporate accounts. Mark Karpeles was told by the core developers continuously for months about this particular problem with his custom wallet software and about the fact that he could loose bitcoins this way. He neglected it and knowingly decided to ignore the warnings and just do nothing. In a possible lawsuit he could be liable with all of his profits. It'll be a surprise for me if he somehow managed to loose more then 10-15% of the Bitcoins (like don't keep an offline wallet, lost the password for the offline wallet, his dog eat the wallet, etc.). |
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JCviggen
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February 24, 2014, 07:39:31 PM |
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are we going to have that same rebound at 630 on stamp or are we going lower 600 looks pretty far away now on stamp. |
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dreamspark
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February 24, 2014, 07:40:03 PM |
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Well its been an interesting day in bitcoin land. The volatility we are seeing isn't great for bitcoin but it certainly is good for filling the coffers  |
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zyk
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February 24, 2014, 07:40:12 PM |
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To an extent I agree I do not think this is a Higlander scenario
There can be more than one
Money is the ultimate network effect. How is any other crytpcoin supposed to have less volatility than the one with the largest market cap? If volatility slows adoption, and I think we all agree that it does, then it's a huge hurdle to overcome. Money is the ultimate network effect. I hear you and I am a true beliver in the power of the network effect if a company/coin is lucky enough to ride that wave (after wave, after wave, eeek Tsunami) But A coin that was more evenly distributed with no huge holders, that traded on an exchange with high liquidity or a decentralised peer to peer exchange between wallet holders, with a baked in exchange into the client.... may have less volatility. Also I think that volatility is what caught a lot of peoples attention to Bitcoin... so it is a double edged sword. Also something great may come along, I am already diversified, I like Bitcoin but I also like some other cryptos that are popping up, dare I mention them here but like Nxt and Mastercoin, Protoshares that I think may have some potential , especially with the DAC's and colour coins etc... there is the potential to create some stable currencies using those protocols, as well as peer to peer exchange, and also like it or not as a concept, as a business the forging aspect of Nxt, if they can continue to grow and develop, is quite interesting, especially if you have a large number of Nxt, so there is reason to invest in the network and "forge" from there if the platform develops into something of use, which people can build onto , which is the idea, and if the community can reach out and encourage adoption because it provides solutions and profitable opportunites, then yes I can see another crypto doing quite well... does that mean it will dwarf Bitcoin, no... infact I am more inclined to think that the next "big and useful" coin we see will not get its next leg up, until Bitcoin has its next leg up... ie if Bitcoin jumps to $5000 and drags the marketcap up to 60 billionish then I can see coins like Litecoin, Nxt ** etc catching a ride on the coattails and increasing their marketcaps potentially by several billion+ ......which then would have a knock on effect, money is the ultimate network effect... and those development bounties that are out there would all suddenly have a lot more bang for their respective crypto buck, which means they can spend more on developing more , more marketing etc... Also as Bitcoin becomes more mainstream it is carving the path, and in doing so , doing a lot of the grunt work.. if people do get comfortable with Bitcoin, they are more likely to give another crypto a go that goes for traders/merchants and individuals even the media. I am playing devils advocate here ! and I do think that Bitcoin remains the mothership for now, and most likely for sometime, the network headstart is huge, and so is the headstart for adoption rates, ecosystem, investment rates, public awareness, vested interests, regulations, users, marketcap, etc but never say never is my moto. The other thing is that some Goliath of a corporation could try to give it a go.. one with a huge market share already in a symbotic industry that could evolve a concept and role it out to the masses with their already in place marketing machine and vast funds to throw at it and the masses would lap it up, and not care that it was not decentralised and not care that it was funded by "the usual suspects" that is also possible.. **Yes even dare I say it Ripple and fcking Dogecoin because wow Watch LTC/BTC and you know how your theory works before you will get ignored right away |
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cbutters
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February 24, 2014, 07:40:30 PM |
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How about Karples just makes a clear statement already. Even if the worst thing possible... they lost/stole everyone's money.... couldn't be worse than leaving everyone in the dark to speculate on what is happening, and what they think the market will do because of what they think is happening and reacting to ghosts and shadows.... or twitter post deletions.... I guess this is just bitcoin though.
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delphic
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February 24, 2014, 07:42:23 PM |
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However [ MtGOX ] most probably have much more from fees than the amount they lost also stored offline
... Moreover, whatever is left of their feee revenue after paying salaries and other expenses is surely pocketed by the owners as profits --- and not left in MtGOX corporate accounts. Mark Karpeles was told by the core developers continuously for months about this particular problem with his custom wallet software and about the fact that he could loose bitcoins this way. He neglected it and knowingly decided to ignore the warnings and just do nothing. In a possible lawsuit he could be liable with all of his profits. It'll be a surprise for me if he somehow managed to loose more then 10-15% of the Bitcoins (like don't keep an offline wallet, lost the password for the offline wallet, his dog eat the wallet, etc.). the owners paid themselves dividends, and Mt.Gox was insolvent and they knew it, that would be fraud. |
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Holliday
Legendary
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Activity: 1120
Merit: 1009
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February 24, 2014, 07:42:46 PM |
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How about Karples just makes a clear statement already.
Sociopaths don't do obvious things like that. |
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JCviggen
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February 24, 2014, 07:42:56 PM |
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How about Karples just makes a clear statement already. Even if the worst thing possible... they lost/stole everyone's money.... couldn't be worse than leaving everyone in the dark to speculate on what is happening, and what they think the market will do because of what they think is happening and reacting to ghosts and shadows.... or twitter post deletions.... I guess this is just bitcoin though.
Without knowing the guy personally, what I've seen so far indicates he's got some issues admitting he was wrong/made a mistake or plain is out of his depth technically trying to solve something. Hence, I expect this to drag on for a while still. |
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MatTheCat
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February 24, 2014, 07:43:22 PM |
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are we going to have that same rebound at 630 on stamp or are we going lower I came out my short at $550....but having sat and observed the action since then I sense that sentiment is very negative so have re-entered the market with short trade. All the big trades are smashing into Bid wall, not to say that there isn't resistance but not nearly enough. The 10K whale tricked trading bots on Bitstamp into hoovering up over 5K of BTC at $579. That is 5k of BTC which is now bagholding coin from a trader point of view. In this respect it is probably safe to say that the absolute near term top for a trader is $579.......just not worth it for most, and then many more anxious bagholding these whale coins and lots more bought at higher price levels who will be looking to cut their losses. I will stick my neck out and say that we penetrate $530 proper from here. |
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EuroTrash
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February 24, 2014, 07:44:03 PM |
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How about Karples just makes a clear statement already. Even if the worst thing possible... they lost/stole everyone's money.... couldn't be worse than leaving everyone in the dark to speculate on what is happening, and what they think the market will do because of what they think is happening and reacting to ghosts and shadows.... or twitter post deletions.... I guess this is just bitcoin though.
http://en.wikipedia.org/wiki/K%C3%BCbler-Ross_modelI think your post is at stage 3: Bargaining. |
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delphic
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February 24, 2014, 07:44:11 PM |
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How about Karples just makes a clear statement already. Even if the worst thing possible... they lost/stole everyone's money.... couldn't be worse than leaving everyone in the dark to speculate on what is happening, and what they think the market will do because of what they think is happening and reacting to ghosts and shadows.... or twitter post deletions.... I guess this is just bitcoin though.
Perhaps Karpeles is delaying so he can get his plastic surgery, breast implants and false passport arranged first. |
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empowering
Legendary
Offline
Activity: 1078
Merit: 1441
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February 24, 2014, 07:44:18 PM |
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my guess: mtgox and karpeles are under criminal investigation by u.s. authorities and by japanese authorities (either the same cases or additional cases) they told him he is not allowed to give any statement about solvency (that´s why he started is saying it is confidential; and i cannot imagine under which other circumstances it would be confidential for a company to say it is solvent). the foundation knows about the investigations and that is why the same step down took place as with shrems investigations. gox may not be insolvent, but the investigation may cause freezing of all funds on gox for months/years/ever. some early adopter (foundation?) knows all this and is very angry with gox and sells parts of his trapped goxbtc for any price, bringing the goxbtc rate down. some insiders knows all this and they will dump & dump (& dump) on stamp. disclaimer: this is not meant to be fud. i just want to figure out what is going on. just speculating... We should instigate "plan x" and do a hostile takeover of the MtGoxtakover group and Mtgox and the foundation, and of starbucks - IPO being launched IPO Plan = http://youtu.be/mUP3A9imOYU sillyness : )   |
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