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

[adamstgBit]

That article doesn't make me feel uncomfortable. I called you a knucklehead because that's exactly how you act sometimes. You refused to say why this is relevant to today. You refused to acknowledge what others have said in response. You refused to concede an inch ever.

I didn't answer because I thought it obvious. It's relevant always so long as Bitstamp is a major exchange. Might interest people who deal with them (I do too for lack of better options).

I didn't concede an inch because I see nothing to concede. Seems to me it is illegal in the same way as gambling and securities running outside of the US to have an exchange running outside of the US that does not comply with US regulations yet serves US customers. So I agree to disagree.

Yet the guy who talks about it on that article specifically saying:

Mr. Cohen said the Treasury Department is working with other governments and multilateral institutions to seek to draft consistent rules for digital currencies around the world. He said the international Financial Action Task Force, which sets standards for anti-money-laundering and counterterrorist financing practices, will later this year release a paper that will update common definitions for digital currencies and lay out potential benefits and vulnerabilities for the sector.

I saw it, but I don't understand why them working on internationally harmonizing AML/KYC rules in the future would change the present regulations where exchanges must be registered. Are you assuming they will not enforce it until they come to an understanding with other governments?

I am not assuming anything about any world's government rules, they can do whatever they want really. But I am looking at current situation and don't see it as threat.

USA is pretty friendly to Bitcoin and unless they are making us all fools they won't do anything hard to harm it.

And again as I wrote in answer to Walsoraj, we already have FINCEN registered exchanges and many more to come so it's not an issue at all. If Bitstamp is not good to do the business with USA (and they made enough money to register with FINCEN if required) someone else will do.

what is this new  FINCEN registered exchange?

[seleme]

Could you please go beserk, you have been talking about this possibility for quite some time.

Beserk? No, the lesson will be delivered calmly, with just a few keystrokes.  But it is not a decision to be taken lightly.

Are you actually threatening people now?  I guess something must have touched a nerve.

He is going to break Bitcoin encryption people, run, run away 

[Walsoraj]

Nobody uses the fincen registered exchanges. I wonder why? 

[Richy_T]

If anyone is wondering about ChartBuddy, my hosting provider is currently experiencing issues.

[Erdogan]

there can be an infinte number of cryptocoins, any brand of them is just as good for commerce as any other, and there is no reason to believe that bitcoin will be among the ones that will succeed if they do succeed.

This has been refuted again and again. People want a secure, noninflating coin. Not evapourcoin. Not resourcecoin. They dont want coins for dogs or dope or sex. One coin. Not countrycoin, not citycoin. One international coin. They don't want a coin with more frequent blocks. Not premine. Not centralized. They want one coin.

Then why are the altcoins still thriving? Those who buy and use them are not people?

Those kinds of coins could be competitors. Maybe one other, maybe two.  [ ... ] Most probably, altcoins could ever only reach a small part of the total value.

And it is me the one who states mere opinions, without any arguments?

Without arguments, what the flying fuck? There were arguments, even after you redacted away a few of my sentences.

You can have your opinion about the likelihood of bitcoin surviving, but the fact are that there is no justification now to claim that they will die, and bitcoin will not.  The "first players advantage" and "network effect", if they were real, should have prevented the altcoins from starting. That they started and are thriving is proof that those advantages are not that significant.

On the other hand, some altcoins appear to have characteristics that bitcoin does not have; who can tell whether they won't be decisive?

(I hope no one will claim that "bitcoin is now too big to fail".  )

[seleme]

That article doesn't make me feel uncomfortable. I called you a knucklehead because that's exactly how you act sometimes. You refused to say why this is relevant to today. You refused to acknowledge what others have said in response. You refused to concede an inch ever.

I didn't answer because I thought it obvious. It's relevant always so long as Bitstamp is a major exchange. Might interest people who deal with them (I do too for lack of better options).

I didn't concede an inch because I see nothing to concede. Seems to me it is illegal in the same way as gambling and securities running outside of the US to have an exchange running outside of the US that does not comply with US regulations yet serves US customers. So I agree to disagree.

Yet the guy who talks about it on that article specifically saying:

Mr. Cohen said the Treasury Department is working with other governments and multilateral institutions to seek to draft consistent rules for digital currencies around the world. He said the international Financial Action Task Force, which sets standards for anti-money-laundering and counterterrorist financing practices, will later this year release a paper that will update common definitions for digital currencies and lay out potential benefits and vulnerabilities for the sector.

I saw it, but I don't understand why them working on internationally harmonizing AML/KYC rules in the future would change the present regulations where exchanges must be registered. Are you assuming they will not enforce it until they come to an understanding with other governments?

I am not assuming anything about any world's government rules, they can do whatever they want really. But I am looking at current situation and don't see it as threat.

USA is pretty friendly to Bitcoin and unless they are making us all fools they won't do anything hard to harm it.

And again as I wrote in answer to Walsoraj, we already have FINCEN registered exchanges and many more to come so it's not an issue at all. If Bitstamp is not good to do the business with USA (and they made enough money to register with FINCEN if required) someone else will do.

what is this new  FINCEN registered exchange?

There are several professional exchanges announced to be live soon including SecondMarket's one, they'll obviously be FINCEN compliant.

And Kraken already is. Coinbase surely is.

[fonzie]

what is this new  FINCEN registered exchange?

Silkroad 2.0

[seleme]

Nobody uses the fincen registered exchanges. I wonder why? 

They're slow 

[Walsoraj]

Nobody uses the fincen registered exchanges. I wonder why? 

They're slow 

Kraken is slow?

[Richy_T]

Regarding, Jorge, the level of paranoia in here is getting a little scary (and I talk as someone who tries to maintain a high level of paranoia). Jorge is wrong (IMO) but sincere. No one is seriously going to be trying to control the market through this forum (unless it is the market for pictures of rockets and trains).

[barbs]

Just put a buy order at 135$ and a sell order at 9000$

Good luck boys and goodnight from the uk

[chessnut]

I lol so hard when I can drop the price by $3 on BFX with a market order of .001 BTC.

[JayJuanGee]

Let's try to be nice now.  I know it can be challenging when you're born to contend for domination of the universe, but let's all try.

TA from another thread:

Log scale chart of complete bitstamp USD history.



Why might the latest pennant be such a different beast to the previous ones?

First :  Is there some kind of scale in the chart?  Second:  Past is not a predictor of future performance.  Third:  there may be different variables at play that affect the present performance to make it different from the first - intensity of government attention and sabotage.. or mt gox variable...

Don't get me wrong... I believe that is a more persuasive chart as compared with some other charts that I have seen... b/c I get the sense that the various variables that could change future performance are NOT significantly different to make a difference.. at least at the moment...

[boumalo]

If FINCEN can:

1) prohibit US banks from transacting with banks associated with non-compliant foreign exchanges; and/or

2) prohibit US companies such as Coinbase from transacting with non-compliant foreign exchanges,

then bitcoin bulls are fucked. These prohibitions around the same time as the china crackdown = $10 bitcoins by mid-summer.

I thought regulation was good if BTC becomes an asset and can be traded and owned legally

Nobody uses the fincen registered exchanges. I wonder why? 

nobody uses coinbase?

[KeyserSoze]

Hold tight, Bitcoiners. Do not despair. Even if it dips a little more there seems to be tons of support at $1.

I don't make many predictions but I'm going out on a limb and say that my maps and charts show it is unlikely we'll see $250 within the next 5 minutes. So, it's great news all around.

[Erdogan]

Nah, I think you guys are going over the line. He is not paid nor he will be awarded for his posts from anyone, there's nobody who would pay him to do it, tbh.
He is just intellectual troll who find this as some kind of perverse challenge for himself, he's probably licking his lips now how he is doing us here.
I've never seen anyone spending so much time on the subject he thinks it's a failure though, sad state of mind really.

If so, he does it in a very unreasonable way, unprofessional, not in a way expected from a guy supposedly educated in the scientific method and discussion with peers. [... ] This way of working is exactly what is to be expected from a paid shill, a false grassroot which is called astroturfing [ ... ] or you are ignorant, nonlogical, without common sense. It is also possible. Locked into a tunnel view, due to defect working of your left or right brain, broken, stupid, willfully ignorant, afraid, traumatized in your childhood. Something.

Now, you and the other guys who keep writing this sort of stuff, do you do it because

  (A) you are frustrated with bitcoin price or something else, and need to vent your frustration on someone; or
  (B) you really meant to write that sort of stuff; or
  (C) you don't believe I can teach you a lesson you won't forget, and are calling my bluff?

If (A), fine, I am glad to be of service.

If (C), know that a man who knows his strength does not use it just to prove he has it.

Now I write mostly for the rest of the audience.

[seleme]

Nobody uses the fincen registered exchanges. I wonder why? 

They're slow 

Kraken is slow?

I've put smileys there, come on Walsoraj 

[KFR]

Regarding, Jorge, the level of paranoia in here is getting a little scary (and I talk as someone who tries to maintain a high level of paranoia). Jorge is wrong (IMO) but sincere. No one is seriously going to be trying to control the market through this forum (unless it is the market for pictures of rockets and trains).

I really don't think anyone's seriously worried about that.  I think people are just losing patience with all the repeatedly flogged dead horses and straw men.  

[barbs]

Hold tight, Bitcoiners. Do not despair. Even if it dips a little more there seems to be tons of support at $1.

I don't make many predictions but I'm going out on a limb and say that my maps and charts show it is unlikely we'll see $250 within the next 5 minutes. So, it's great news all around.

We need to remember what bit coin is possible of and who it was invented by. this is the interwebs with magical internet money created by nerds. just be prepared for battle!!

[fonzie]

Hold tight, Bitcoiners. Do not despair. Even if it dips a little more there seems to be tons of support at $1.

I don't make many predictions but I'm going out on a limb and say that my maps and charts show it is unlikely we'll see $250 within the next 5 minutes. So, it's great news all around.