damiano
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103 days, 21 hours and 10 minutes.
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February 08, 2015, 05:57:04 PM |
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Longs are absorbing these ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs12.postimg.org%2Fcgtjbpdrx%2FScreen_Shot_2015_02_08_at_9_55_28_AM.png&t=665&c=ebDqpc5rqem1_g)
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macsga
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Activity: 1484
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Strange, yet attractive.
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February 08, 2015, 05:59:08 PM |
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Longs are absorbing these ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs12.postimg.org%2Fcgtjbpdrx%2FScreen_Shot_2015_02_08_at_9_55_28_AM.png&t=665&c=ebDqpc5rqem1_g) @damiano: How do the swaps work with the price? Is there a site where you can trade?
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ElectricMucus
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Activity: 1666
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Marketing manager - GO MP
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February 08, 2015, 05:59:33 PM |
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The PBOC was real patient with Bitcoiners in the last months. But after this last event where honest chinese got scammed for millions by mycoin.hk i guess they won´t have any other chance than totally banning Bitcoin . I will send them an e-mail with my conerns about an eventually upcoming riot in the street by chinese people who got bitscammed, just to make sure that they are prepared. This madness has to stop. If you have knowledge about other events where chinamen got scammed by Bitcoin feel free to write them: webbox@pbc.gov.cnyeh the 30 victims of the imaginary scam gona riot ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) lol that's a new level of denial right here.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 08, 2015, 05:59:39 PM |
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manfred
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Energy is Wealth
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February 08, 2015, 06:00:35 PM |
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... Moral of the story to not do business with a Hong Kong registred Bitcoin enterprice. In the past several Hong Kong exchanges have run away with costomer funds (GBL, 796, mycoin, ANX.....), basicaly anyone dealing with a hong kong registered exchange deserves to get goxed
You're right, I feel much safer trading on exchanges like BTC-e, registered in Bulgaria not registered anywhere. Not knowing the names of the principals also placates some of my concerns, because anonymity is paramount! BTC-e is european union registred (cyprus) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs2.postimg.org%2F6w4b38yll%2FCapture.jpg&t=665&c=SAHPmHPLd96FeA) I also heard Russia (their Russian is fluent), Ukraine & just about everywhere else. Do you happen to know names of the players involved? You know, like founder, CEO, CTO? The owners are russian citizen, (not nationals) the exchange is registred in Cyprus and England and the servers sit in Bulgaria. Yes the names are known. >the exchange is registred in Cyprus and England Anything other than their word backing this claim? >Yes the names are known Err... So what are the names? When u sign up you can see for yourself, read the terms and conditions (Jurisdiction) https://btc-e.com/page/1
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dropt
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February 08, 2015, 06:01:22 PM |
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![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Longs were over 15mm long before the recent dumps.
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JorgeStolfi
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February 08, 2015, 06:01:26 PM |
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Gourmet popcorn: The Race to Replace Bitcoin An epic battle between two bitcoin 2.0 contenders grips the crypto world By Michael Craig Observer/Innovation, 2015-02-05 8:00am http://observer.com/2015/02/the-race-to-replace-bitcoin/EDIT: Although it is about two altcoins, the main characters are the Gods of the Bitcoin Pantheon...
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fonsie
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February 08, 2015, 06:03:51 PM |
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Who pays to have a credit card?
The world is bigger than your hometown. I have to pay an annual fee just to have one. Well some people here only get offers involving annual fees, but it's always because of godawful credit. I have 0$ debt, so that's not the reason. It's not because you can get it for free, that it means the entire world has it for free also. Besides were I live it's a bit of a useless thing to have a creditcard, only if you buy stuff regularly online and want to have it delivered the next day. In regular shops you can use a debitcard and cash. Zero debt does not necessarily mean good credit. If you have no debt, it could mean you've never put yourself in a position to have debt, which means you've never proven that you'd be responsible about paying it off. But let's give you the benefit of the doubt: you have good credit, but get dicked by CC companies into paying a fee simply because of where you live. All the arguments about credit cards being easier to use than bitcoin for smaller purchases can easily be applied to debit cards. Well we'll make it 0$ debt and 100% credit score then. Just to make peoples life easier, here's proof https://www.ing.nl/particulier/betalen/creditcards/index.htmlCredit/debit cards are not easier, when going across the world, it would be easy for someone in Indonesia to accept bitcoin, not so for my debitcard.
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Wekkel
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yes
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February 08, 2015, 06:04:15 PM |
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I think it is worthwhile to add this snippet. This criticism makes sense. Everybody thought Bitcoin was gonna bring them freedom and liberty, but what it has brought them are three different kinds of entrapment. Let’s take these lessons, and make a Bitcoin that is useless to Wall Street, that doesn’t automatically create a cartel of miners, and that doesn’t leave a power vacuum for development which some Foundation will fill.
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damiano
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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February 08, 2015, 06:04:33 PM |
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Longs are absorbing these ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs12.postimg.org%2Fcgtjbpdrx%2FScreen_Shot_2015_02_08_at_9_55_28_AM.png&t=665&c=ebDqpc5rqem1_g) @damiano: How do the swaps work with the price? Is there a site where you can trade? It's just data from bitfinex. I have my long position there. I use okcoin futures to daytrade on these swings and profit goes to bitfinex
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damiano
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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February 08, 2015, 06:07:00 PM |
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![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Longs were over 15mm long before the recent dumps. not really, 2 weeks ago we were, last week it hit a low as 14.4 or 14.6 mill? last monday or tuesday. It's been steadily increasing. Shorts are down since thursday/friday but not by much. The failed dump on wednesday really hurt them.
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NotLambchop
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February 08, 2015, 06:09:46 PM |
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... Moral of the story to not do business with a Hong Kong registred Bitcoin enterprice. In the past several Hong Kong exchanges have run away with costomer funds (GBL, 796, mycoin, ANX.....), basicaly anyone dealing with a hong kong registered exchange deserves to get goxed
You're right, I feel much safer trading on exchanges like BTC-e, registered in Bulgaria not registered anywhere. Not knowing the names of the principals also placates some of my concerns, because anonymity is paramount! BTC-e is european union registred (cyprus) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs2.postimg.org%2F6w4b38yll%2FCapture.jpg&t=665&c=SAHPmHPLd96FeA) I also heard Russia (their Russian is fluent), Ukraine & just about everywhere else. Do you happen to know names of the players involved? You know, like founder, CEO, CTO? The owners are russian citizen, (not nationals) the exchange is registred in Cyprus and England and the servers sit in Bulgaria. Yes the names are known. >the exchange is registred in Cyprus and England Anything other than their word backing this claim? >Yes the names are known Err... So what are the names? When u sign up you can see for yourself, read the terms and conditions (Jurisdiction) https://btc-e.com/page/1I realize that they claim Cypriot jurisdiction. I, myself, claim Somali jurisdiction. As a legal entity, I'm registered in Eqestria & Slovakia. If you have any legal beef with me, you'll have to bring it before Somali courts tho. Since you don't know my name or location, good luck with that ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) So my questions stand, and I'll repeat them for your convenience: 1. Is there any proof of registration? What is it? 2. What are the names of the principals? ty
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ChartBuddy
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Activity: 2296
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 08, 2015, 06:59:55 PM |
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fonzie
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February 08, 2015, 07:02:04 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash.
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solex
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100 satoshis -> ISO code
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February 08, 2015, 07:14:10 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash. So why aren't the Chinese exchanges dumping like crazy? 3 billion yuan = 2.17 million btc at the current price. 3000 investors means the average investor had 725 btc each ![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
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lyth0s
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World Class Cryptonaire
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February 08, 2015, 07:25:42 PM |
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To be honest you are assuming that they are not keeping a % of the payment in BTC with their payment processor.
Some merchants may do that (just as some merchants actuall accept bitcoin directly, without BitPay's intermediation). But I am pretty sure that Dell, Microsoft, Wikipedia, etc. do not. Handling bitcoins requires extra work from accoutants, which is not worth the amount of payment received. Losses from bitcoin price variations (as Overstock and Fortress suffered) would have to be reported in the quarterly reports, and would be hard to justify to stockholders. Also what is important to note is that BTC like USD,CAD,YEN,CHY,GBP and any other currency is being accepted for payment ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) SIgh. No, it is not the same thing. Dell USA does accept USD, because you can wire USD to their bank account directly. They do not accept CAD,YEN,CHY,GBP nor BTC, and you cannot send them any of those currencies directly; you must send them to some other company, that converts them to USD and sends the USD to Dell. Jorge, can't you see that we are arguing about what 'accepting' means? Everybody agrees about the model, the underlying chain of events that takes place during and after a payment (if a company chooses to get paid fully in fiat). It's just that when a company allows you to pay for products in BTC, I call that "accepting BTC", whereas for you "accepting" apparently means whatever you are getting paid by the payment processor at the end of the process. I didn't follow the discussion leading to this, so maybe I'm out of line, but strangely it seems I'm siding with Stolfi on this. If we're talking about what it means to accept BTC I think we have to ask why we want companies to do that. In the end we'd like to see a purely Bitcoin-based economy with the companies using the BTC they're being payed with for their products to cover their cost (machinery, marketing, salaries, consulting, raw materials, insurance, taxes,...). In case of a company 'accepting' BTC through bitpay and converting 100% to fiat, this is clearly not the case. So no: Dell is not accepting bitcoin. They're using it as a marketing tool. Dell still has to pay its suppliers in USD. As time passes and more companies (including suppliers) accept bitcoin, then companies such as dell could potentially keep some of the btc and use it directly to pay their part suppliers, shippers etc. A full bitcoin based economy is not something that happens overnight, it is a long transition.
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damiano
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Activity: 1246
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103 days, 21 hours and 10 minutes.
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February 08, 2015, 07:26:19 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash. So why aren't the Chinese exchanges dumping like crazy? 3 billion yuan = 2.17 million btc at the current price. 3000 investors means the average investor had 725 btc each ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) No one gives a shit about that site. It's not a major exchange.
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readysalted89
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February 08, 2015, 07:27:00 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash. So why aren't the Chinese exchanges dumping like crazy? 3 billion yuan = 2.17 million btc at the current price. 3000 investors means the average investor had 725 btc each ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) For a start the Chinese do not wake up until four or five hours from now. I'm also waiting to read an English version of the story because Google translated versions aren't exactly reliable.
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lyth0s
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World Class Cryptonaire
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February 08, 2015, 07:29:38 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash. So why aren't the Chinese exchanges dumping like crazy? 3 billion yuan = 2.17 million btc at the current price. 3000 investors means the average investor had 725 btc each ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) It seems to be 3 billion hong kong dollars = 386 million US dollars = 1.7 million BTC. If these were already stolen and sold though (with just a recent closure) that could help account for all of this downward pressure we've been having.
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DefendKebab
Sr. Member
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Hassan Al-Kebab
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February 08, 2015, 07:30:03 PM |
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It´s official. http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate:: "Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time . It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...." Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash. So why aren't the Chinese exchanges dumping like crazy? 3 billion yuan = 2.17 million btc at the current price. 3000 investors means the average investor had 725 btc each ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) For a start the Chinese do not wake up until four or five hours from now. I'm also waiting to read an English version of the story because Google translated versions aren't exactly reliable. We might see a huge flash crash when they wake up.
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