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JCviggen
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February 25, 2014, 05:32:35 AM |
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... if gox has truly physically destroyed 744k coins then money supply has just been decreased by ~6% ... chew on that.
It would require such vast incompetence that it seems unlikely it's thàt bad. Of course it's always possible, but I can't imagine the (dwindling) size of the cold wallets was never checked. |
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JorgeStolfi
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February 25, 2014, 05:33:00 AM |
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Any good theories on why China doesn't care about this?
Huobi price is still at $535.
My understanding: Arbitrage trade appears to have been disconnected or weakened since the big 10 kBTC sell-off at Bitstamp. Also Huobi and OKCoin together are much bigger than Bitstamp, BTC-e and Bitfinex together (sometimes 5x as big). Normally it is Huobi and OKCoin who define and stabilize the price on these three. With reduced arbitrage, these three become much more "fragile" and therefore volative, while the Chinese barely notice. Finally, apart from arbitrage, Huobi and OKCoin are isolated from the other markets, since they trade only in CNY, and the others cannot trade in CNY. Their clientele must not even know what MtGOX is. |
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isov
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February 25, 2014, 05:33:13 AM |
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Whats that? In the gutters? Starting to look a bit reddish, don't you think?
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donut
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February 25, 2014, 05:33:47 AM |
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Whats that? In the gutters? Starting to look a bit reddish, don't you think?
Are you saying it's time to buy already?! |
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jojo69
Legendary
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Activity: 3262
Merit: 4476
diamond-handed zealot
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February 25, 2014, 05:33:55 AM |
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Can we really count Shrem as dishonest? Most Bitcoin supporters would consider what he did legit. Its only government that thinks it isn't.
Whether he gets convicted or not, and whether bitcoiners think that the law is immoral or not, it not relevant. For most people in the world, money laundering for the drug traffic is not legit. If those people are told that "most bitcoin supporters consider money laundering and drug trafficking legit", they will conclude that bitcoin is not legit. Any institution that wants to be the voice of the bitcoin community to the world must be respectable in the eyes of the world. ummmmm HSBC? |
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N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
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February 25, 2014, 05:34:53 AM |
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Not sure if 2011 or 2013. Or worse than 2011.
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ChrisML
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February 25, 2014, 05:36:11 AM |
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Where will this end.. and if it did... where will it go  |
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JorgeStolfi
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February 25, 2014, 05:36:29 AM |
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That is where a major divide in the Bitcoin community is. I don't care if government thinks bitcoin is legit. The only thing I care about is having money that I can hold and transport my wealth stealthily. I want "drug trafficking", I want things so out of control that government destroys itself trying to contain it. There are many other like me.
That is one of the two disasters that befell the bitcoin project, and will kill it. |
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sonofliberty
Full Member
Offline
Activity: 395
Merit: 100
Market Integration Platform
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February 25, 2014, 05:36:40 AM |
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Where will this end.. and if it did... where will it go To the moon. |
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isov
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February 25, 2014, 05:36:46 AM |
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Whats that? In the gutters? Starting to look a bit reddish, don't you think?
Are you saying it's time to buy already?! Atleast I guess its not too far anymore. I would think that we are not gonna fall through 382$ on Stamp. But what do I know. |
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MANofthePEOPLE
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February 25, 2014, 05:36:59 AM |
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Walls are crumbling. Will we see sub 400 today?
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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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February 25, 2014, 05:37:08 AM |
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bitstamp volume is going of the Richter! I just picked up some more coins...don't know if it is the bottom, but still a good price for the long term..
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jojo69
Legendary
Offline
Activity: 3262
Merit: 4476
diamond-handed zealot
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February 25, 2014, 05:37:17 AM |
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Whats that? In the gutters? Starting to look a bit reddish, don't you think?
O positive |
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Holliday
Legendary
Offline
Activity: 1120
Merit: 1012
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February 25, 2014, 05:37:32 AM |
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Not sure if 2011 or 2013. Or worse than 2011.
It's 2014 Blitz, learn from the past but don't let it rule you. |
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Vigil
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February 25, 2014, 05:38:40 AM |
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That is where a major divide in the Bitcoin community is. I don't care if government thinks bitcoin is legit. The only thing I care about is having money that I can hold and transport my wealth stealthily. I want "drug trafficking", I want things so out of control that government destroys itself trying to contain it. There are many other like me.
That is one of the two disasters that befell the bitcoin project, and will kill it. Complete nonsense. Bitcoin will have the largest impact in the third world economies. The US and Europe will be shit-holes soon enough. |
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sidhujag
Legendary
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Activity: 2044
Merit: 1005
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February 25, 2014, 05:38:55 AM |
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Whats the average volume monthly of all exchanges? that will tell you price.
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TERA
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February 25, 2014, 05:39:03 AM |
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The trick of every bottom on bitstamp is to make every bottom look like theres no walls and it's about to fall of a cliff. The big players are all using dark orders.
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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February 25, 2014, 05:41:44 AM |
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I'm not sure we'll go much down from here.
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mb300sd
Legendary
Offline
Activity: 1260
Merit: 1000
Drunk Posts
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February 25, 2014, 05:42:58 AM
Last edit: February 25, 2014, 06:18:48 AM by mb300sd |
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Whats that? In the gutters? Starting to look a bit reddish, don't you think?
Going to be a long, long night. |
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