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

[brg444]

so the scam was..

give me money and i will mine bitcoin for you...

ran off with money...

bitcoin never got mined...

-> there will be no dump

This essentially has nothing to do with Bitcoin.

The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism.

Of course suckers at the bottom paid the bills for the ones at the top.

No actual Bitcoiner was hurt in this experiment  

[findftp]

looks like someone hit the wrong button on bitfinex.

Maybe someone implemented an huobi algo

[razorramon]

so the scam was..

give me money and i will mine bitcoin for you...

ran off with money...

bitcoin never got mined...

-> there will be no dump

This essentially has nothing to do with Bitcoin.

The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism.

Of course suckers at the bottom paid the bills for the ones at the top.

No actual Bitcoiner was hurt in this experiment  

could have been the exact same scam with rare metals or whatever

[brg444]

Some whales throwing their weight around this morning

[fonzie]

so the scam was..

give me money and i will mine bitcoin for you...

ran off with money...

bitcoin never got mined...

-> there will be no dump

This essentially has nothing to do with Bitcoin.

The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism.

Of course suckers at the bottom paid the bills for the ones at the top.

No actual Bitcoiner was hurt in this experiment  

Let´s just hope that you are not one of the suckers when the next exchange (Bitfinex, okcoin...) blows up, cause they are probably acting with fractional reserve. Which means that you never had or traded "real bitcoins" (aka mining revenues, trading performance). 

[Fatman3001]

[aztecminer]

That was pitiful. What a bunch of limp dicks these dumpers turned out to be.

i decided to buy on a spread because i am doubting this is going sub 200. it looks like 220 is resistance. so i bought a couple now @218 and if it drops lower then pick up more. seems to be the only logical way to do this. since i keep my mined coins hoarded then i am trying buy a stash to trade with. i could use a few more but i think i got enough now to do some damage trading when this thing decides to do something besides go down.. i think is to strong of buying to reach sub-200 right now.

[razorramon]

lol...only 2 dollars down...fuck you bears

[brg444]

so the scam was..

give me money and i will mine bitcoin for you...

ran off with money...

bitcoin never got mined...

-> there will be no dump

This essentially has nothing to do with Bitcoin.

The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism.

Of course suckers at the bottom paid the bills for the ones at the top.

No actual Bitcoiner was hurt in this experiment  

Let´s just hope that you are not one of the suckers when the next exchange (Bitfinex, okcoin...) blows up, cause they are probably acting with fractional reserve. Which means that you never had or traded "real bitcoins" (aka mining revenues, trading performance). 

Let's just hope that you end your miserable life 

[LFC_Bitcoin]

lol...only 2 dollars down...fuck you bears

This.

Lame ass fools.

[JorgeStolfi]

so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump

Correct that far.  However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin.  That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion.  There may be repercussions on exchanges.

And then we have the current dump.  Just a coincidence, or triggered by the mycoin.hk news?

[Globb0]

Refuelled and ready to go!    

[fonzie]

so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump

Correct that far.  However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin.  That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion.  There may be repercussions on exchanges.

And then we have the current dump.  Just a coincidence, or triggered by the mycoin.hk news?

Let´s hope that the PBOC put´s an end to this scam and finally protects it´s citizens. I already wrote them 3 mails in the last 7 days.

[razorramon]

so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump

Correct that far.  However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin.  That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion.  There may be repercussions on exchanges.

And then we have the current dump.  Just a coincidence, or triggered by the mycoin.hk news?

that "dump" didnt bring us really down...also looks like a lot of the shorters put their stop position above 200usd...so only attempt to make a quick buck out of the news...looks like it isnt working
and tighter regulations would be a good, because more secure thing...nothing wrong with that

[fonzie]

so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump

Correct that far.  However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin.  That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion.  There may be repercussions on exchanges.

And then we have the current dump.  Just a coincidence, or triggered by the mycoin.hk news?

that "dump" didnt bring us really down...also looks like a lot of the shorters put their stop position above 200usd...so only attempt to make a quick buck out of the news...looks like it isnt working
and tighter regulations would be a good, because more secure thing...nothing wrong with that

A lot of these orders will get pulled as soon as we get near them and a lot of stop loss longs will get triggered.  

[brg444]

so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump

Correct that far.  However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin.  That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion.  There may be repercussions on exchanges.

And then we have the current dump.  Just a coincidence, or triggered by the mycoin.hk news?

Let´s hope that the PBOC put´s an end to this scam and finally protects it´s citizens. I already wrote them 3 mails in the last 7 days.

 

[JorgeStolfi]

Uh-oh:

http://www.scmp.com/news/hong-kong/article/1708308/mycoin-director-quit-one-month-bitcoin-platform-changed-trading-rules

The sole director of the company which out-of-pocket MyCoin clients say controls the bitcoin trading platform resigned one month before it was said to have changed trading rules to stop investors cashing in all their bitcoins.

Companies Registry records show William Dennis Atwood as the only director of Rich Might Investment Ltd – to which many MyCoin clients made out cheques as payment to MyCoin – resigned on November 10 last year.

Atwood also transferred all of the shares he held on the same day to a British Virgin Islands-based company called Fascinating Horizon Overseas Ltd, the records show.

The clients claim Atwood was chief executive of Kryptogroup which controls, among other entities, MyCoin and a bitcoin mining centre called Kryptomine Cloudhashing.

An imperialist pig stealing from Chinese workers?  @NotLambChop, you must have the right poster for that...

[cheekychap]

Did the news of mucoins.hk affect the price in anyways ?

[barbs]

What's with that 10$ spread.. So dodgy

[aztecminer]

Did the news of mucoins.hk affect the price in anyways ?

not sure a mining contract scheme would affect bitcoin price any more than an asic company scheme affect bitcoin price ??