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Author Topic: [DVC]DevCoin - Official Thread - Moderated  (Read 955879 times)
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Arbitrageur
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June 23, 2014, 11:59:06 AM
 #5841

this is what I posted in the vircurex thread:

ok, since withdrawals have been working smoothly and it wasn't a run away from new stuck btc, here are the cases to explain yesterday weird volumes and price action:

1) someone with lots of money wanted to diversify 250 btc into alts and chose (oddly enough) vircurex to do the trades. he paid up 2-3x (even 10x, there were 7 ltc traded at 0.2) the price of other exchanges. it might be just an ignorant person who doesn't understand markets, or price action, or arbitrage.

2) this makes way more sense if this person is an hacker who stole many btc, not very expert of exchanges and markets, willing to lose trace of the stolen btc: buying alts through an exchange is the best way to achieve this goal.

3) Kumala itself tried to stir up things on his dying exchange to revive attention and interest. well, if this were the case he would have done a better and more honest job in giving back the money to the frozen accounts. at the end of the day, I doubt this strategy will work and if the crazy buys stops here, volume will return to 1-2 btc per day as it was until 2 days ago.

I'd go for number 2.
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weisoq
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June 23, 2014, 05:24:01 PM
 #5842

I'd go for number 2.
Maybe, but still quite a lot of dvc buying in big clips.
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June 23, 2014, 05:56:31 PM
 #5843

I'd go for number 2.
Maybe, but still quite a lot of dvc buying in big clips.


I see that too.

Somebody really loves them devcoins.  Paying big money for them.

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June 23, 2014, 06:32:03 PM
 #5844

I'd go for number 2.
Maybe, but still quite a lot of dvc buying in big clips.


I see that too.

Somebody really loves them devcoins.  Paying big money for them.

Maybe devcoinauctions.com has caught the interest of some speculators
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June 23, 2014, 08:12:33 PM
 #5845

I think momentum got involved, people see it listed as one of the fastest rising coins on the sites that show market caps and such, so more people flood in.

How does the Vircurex buy price compare to the buy side on other exchanges now, we have the buy side filled up through 35 satoshis now on Vircurex.

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June 23, 2014, 09:41:47 PM
 #5846



100 Bitcoins volume on Vircurex and over 40 BTC on Cryptsy.

This is getting heavy.

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June 23, 2014, 09:48:23 PM
 #5847

Cryptsy's better than it was, orderbook's not as consistent as vircurex - 100btc gone through there today. Bid volume between the two is around level pre-vircurex problems.
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June 23, 2014, 11:17:36 PM
 #5848



100 Bitcoins volume on Vircurex and over 40 BTC on Cryptsy.

This is getting heavy.

Yea I saw that.. I guess its not a glitch.. someone posted their stash at the low price and the whale bought it up.
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June 23, 2014, 11:34:42 PM
 #5849



100 Bitcoins volume on Vircurex and over 40 BTC on Cryptsy.

This is getting heavy.

Yea I saw that.. I guess its not a glitch.. someone posted their stash at the low price and the whale bought it up.

Seems to have died down. Thought we were gonna see a massive pump. I suppose we still might, but I worry that it was just one whale who screwed himself here...

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June 23, 2014, 11:47:15 PM
 #5850

Out of curiosity, does anyone still use the vircurex shotgun bot?

https://github.com/hunterbunter/vircurex-python-shotgunbot

Worth doing a git-pull if you do, I think I made some minor bug fixes the last couple of months, too. I was a bit disappointed vircurex went down in volume the last few months, but the bot has paid off well the last couple of days. Every day (if there's been some action) I just clear all my orders and put a new 1-150 satoshi trade, it works well in a volatile spiky market.

If you do use it for the first time, remember to run the bot in quiet times, when the price has stabilized, for best effect.
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June 23, 2014, 11:53:18 PM
 #5851



100 Bitcoins volume on Vircurex and over 40 BTC on Cryptsy.

This is getting heavy.

Yea I saw that.. I guess its not a glitch.. someone posted their stash at the low price and the whale bought it up.

Seems to have died down. Thought we were gonna see a massive pump. I suppose we still might, but I worry that it was just one whale who screwed himself here...

Whales screw themselves on maybe a few trades here and there, not for 2 days straight and on massive volume and orders.

Whoever it is they have a reason for buying up so much Devcoin.

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June 24, 2014, 12:10:43 AM
 #5852



100 Bitcoins volume on Vircurex and over 40 BTC on Cryptsy.

This is getting heavy.

Yea I saw that.. I guess its not a glitch.. someone posted their stash at the low price and the whale bought it up.

Seems to have died down. Thought we were gonna see a massive pump. I suppose we still might, but I worry that it was just one whale who screwed himself here...

Whales screw themselves on maybe a few trades here and there, not for 2 days straight and on massive volume and orders.

Whoever it is they have a reason for buying up so much Devcoin.

Yeah...dvc is 3-4 times the btc volume of the other coins also traded yesterday, so there's something particular about it.

dvc could always be attractive due to its bargain basement price and potential for multiplying xxx fold. I don't see anything fundamental about this move, though, so I'd be cautious of a pump and dump. There hasn't been any particularly good news the last few days has there?
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June 24, 2014, 12:21:21 AM
 #5853

Cloakcoin, severly undervalued, NEW type of anonymity. PoSA! Exchange in wallet. Tor in Wallet! Crazy value,
https://bitcointalk.org/index.php?topic=637704.4420

no way, let me run and grab a few before too late.
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June 24, 2014, 12:52:51 AM
 #5854

Remember way back when CDN, GMC, GRF, MBC, NKL, UKB, UNS and such were skyrocketing so much that there were concerns that debts denominated in such units might never be able to be paid off, so that there was a big move to denominating debts in DeVCoins (DVC) instead because DVC seemed much less prone to endless skyrocketing of price?

Take a look at http://galaxies.mygamesonline.org/plotdvc.html now... Those previously skyrocketing currencies have been dropping steadily, down below the lows recorded since those tables and plots started being accumulated. Maybe that large scale movement could have something to do with it?

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June 24, 2014, 04:25:21 AM
 #5855

MarkM,

I must admit i need to gather the pieces of my scattered brain off the floor when you describe how devcoin is being utilized on online gaming. It blows my mind. I also admit i dont completely understand what you are saying, and thus i dont actually subscribe to something i dont understand. But nonetheless, its a tantalyzing possibility.

I think if your hypothesis is in any way on the mark (hehe), it means big things for devcoiners...just not necessarily in the way they expected it might.

Just how devcoinauctions.com is proving that real businesses can be completely built around devcoin, it could also be that virtual businesses in a virtual world could also peg themselves to devcoin. Perhaps devcoin will be the currency of choice for virtual game developers who wish to support a currency that values open source creation. Nobody really saw that coming...but it could be a big source of interest.

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June 24, 2014, 04:28:10 AM
 #5856

Vircurex is probably the best exchange to sit your bitcoins on...

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Huh? How could vircurex be a good place to park bitcoins? That whole episode earlier this year was not confidence inspiring, to say the least.
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June 24, 2014, 04:31:26 AM
 #5857

Vircurex is probably the best exchange to sit your bitcoins on...

-


Huh? How could vircurex be a good place to park bitcoins? That whole episode earlier this year was not confidence inspiring, to say the least.

That's what I was thinking too... I am not gonna put any currency into this exchange ever again.

I don't know the previous history about the connections between vircurex and a few devcoiners here, but some are clearly biased or atleast affiliated towards this exchange.

But for me vircurex is an absolute no-go.

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June 24, 2014, 05:15:06 AM
 #5858

Vircurex is probably the best exchange to sit your bitcoins on...
Huh? How could vircurex be a good place to park bitcoins? That whole episode earlier this year was not confidence inspiring, to say the least.
That's what I was thinking too... I am not gonna put any currency into this exchange ever again.
I don't know the previous history about the connections between vircurex and a few devcoiners here, but some are clearly biased or atleast affiliated towards this exchange.
But for me vircurex is an absolute no-go.
I *do* consider Vircurex one of the best exchanges around and it is a shame that there was a vulnerability (preparing multiple withdrawals in parallel and then releasing all of them at the same time) and I think such a breach won't happen again (once bitten, twice shy) but I admire the owner for sticking around and making a serious effort to pay back all that was lost. I have no affiliation or benefit from Vircurex, in fact I have frozen BTC and LTC sitting at Vircurex that some day will be un-frozen. I knew in advance that any deposit there could end up frozen and I decided that this was a risk I was willing to take. The rallies there in the past days will only help to regain trust and speed up paying back those frozen funds. I was quite unhappy that trading was so low in the past months, since Vircurex has always been the best exchange around and very open to the community as well as ready to take input from the community.
I have been forced to use Cryptsy for a lot of my trading and that has worked well too, but occasionally they have extreme delays.
I have a theory about the crazy rallies and why they only happen on Vircurex. My theory is that the thief of the funds (or someone related) is having remorse and in a strange way is paying back the funds by giving way-above-market prices for common traded coins, such as DVC. That, or there is some money-laundering going on. Strange it is...
And no, I do not have any problem with money sitting on Vircurex. Of course, I have not all my cryptos in one place, but having several BTC in coins on Vircurex sounds like a safe place to me. YMMV.

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June 24, 2014, 05:33:02 AM
 #5859

I *do* consider Vircurex one of the best exchanges around and it is a shame that there was a vulnerability (preparing multiple withdrawals in parallel and then releasing all of them at the same time) and I think such a breach won't happen again (once bitten, twice shy) but I admire the owner for sticking around and making a serious effort to pay back all that was lost. I have no affiliation or benefit from Vircurex, in fact I have frozen BTC and LTC sitting at Vircurex that some day will be un-frozen. I knew in advance that any deposit there could end up frozen and I decided that this was a risk I was willing to take. The rallies there in the past days will only help to regain trust and speed up paying back those frozen funds. I was quite unhappy that trading was so low in the past months, since Vircurex has always been the best exchange around and very open to the community as well as ready to take input from the community.
I have been forced to use Cryptsy for a lot of my trading and that has worked well too, but occasionally they have extreme delays.
I have a theory about the crazy rallies and why they only happen on Vircurex. My theory is that the thief of the funds (or someone related) is having remorse and in a strange way is paying back the funds by giving way-above-market prices for common traded coins, such as DVC. That, or there is some money-laundering going on. Strange it is...
And no, I do not have any problem with money sitting on Vircurex. Of course, I have not all my cryptos in one place, but having several BTC in coins on Vircurex sounds like a safe place to me. YMMV.

Either way, the best place to park bitcoins is ofcourse a higly encrypted offline wallet locked away in some safe. NOT an exchange.

The problem with vircurex is that it basically tries to lure in new traders with such rallies (and interest payments, etc), so that those new traders money can be used to pay off all the frozen amounts...

I dont like that. It's like they try to solve their problems on the back of other people, not by themselves.

Don't they have any reserves? Any of their own money they can put on line?


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June 24, 2014, 05:41:54 AM
 #5860

I have been forced to use Cryptsy for a lot of my trading and that has worked well too, but occasionally they have extreme delays.

How exactly did they *force you* to use Cryptsy?

I don't get it. I used about half a dozen exchanges by now, and never did I feel coerced to use the one or the other...

For me it's just a perfect free market. Bad players should be punished, lose their customers and give up their market share.

Good players on the other hand should get more traffic and volume, that's only fair.

Let the people decide, there is really no force and coercion in the crypto exchange business as far as I can see.

"Trust has to be earned" comes to mind.... also "Buyers beware"...

And my "Buyers beware" alarm goes off very loud when I hear vircurex and "good place to keep your bitcoins" in the same sentence.

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