Since some of the noobs here have no idea Bitcoin is MP's world and you're all just living in it, while also being much too lazy to do their own research, let me gather some points together here for everyone's convenient quick reference. It is, after all, what I'm paid to do: make it convenient for y'all.I. The 100 dollar miracle.
On April 3rd, MP says BTC is not worth over 100, and tells people to stop buying
A week later
, and ever since:
When asked by one of the readers "what value should we expect BTC to stabilize around
" his response was "Somewhere around 130. If you're really risk averse go with 100.". This was happening in April. Look at the charts.
Also for your own instruction, compare and contrast:
[2012-07-17 05:52:28] <zab_> pirateat40: you got your reaction, you're awesome, now fix your miss please
[2012-07-17 05:52:45] <gribble> Best bid: 8.2808, Best ask: 8.28131, Bid-ask spread: 0.00051, Last trade: 8.28132, 24 hour volume: 197968, 24 hour low: 7.6, 24 hour high: 9.49
[2012-07-17 05:53:17] <NxTitle> if everyone continues to buy, pirate will eventually run out of money
[2012-07-17 05:53:34] <pirateat40> Yes, Everyone BUY
[2012-07-17 05:53:39] <pirateat40> EVERYONE
[2012-07-17 05:53:43] <NxTitle> pirateat40: lol?
[2012-07-17 05:53:45] <pirateat40> GO!, NOW
[2012-07-17 05:54:01] <pirateat40> The more you buy the more I make.
[2012-07-17 05:54:07] <NxTitle> pirateat40: tell me to sell
[2012-07-17 05:54:10] <pirateat40> NxTitle, is just helping me.
[2012-07-17 05:54:13] <zab_> pirateat40: don't do this... don't destroy what you've created
[2012-07-17 05:54:14] <NxTitle> lol
[2012-07-17 05:54:18] <dub> did I pump when it was time to dump?
[2012-07-17 05:54:40] <gribble> Best bid: 8.35999, Best ask: 8.36, Bid-ask spread: 9.99999999962e-06, Last trade: 8.36, 24 hour volume: 198123, 24 hour low: 7.6, 24 hour high: 9.49
[2012-07-17 05:54:43] <Blitzboom> dump and pump scheme
[2012-07-17 05:54:59] <adaqmstgBit> pirateat40 what price would you like us to support?
[2012-07-17 05:55:53] <pirateat40> zab_, this is the first time ive ever played the market. It was simply a statement, I don't plan on making it part of my process. It's simply a warning.
[2012-07-17 05:56:07] <Hexadecibel> Ooo pirate is scary
[2012-07-17 05:58:54] <Diablo-D3> !ticker
[2012-07-17 05:58:55] <gribble> Best bid: 8.26102, Best ask: 8.37498, Bid-ask spread: 0.11396, Last trade: 8.37499, 24 hour volume: 198583, 24 hour low: 7.6, 24 hour high: 9.49
[2012-07-17 05:59:33] <NxTitle> pirateat40: how much longer do I have to wait for a gpumax account?
[2012-07-17 05:59:54] <SysErr0r> pirateat40: when will my BFL single arrive?
[2012-07-17 06:00:56] <pirateat40> adaqmstgBit, 33% is right.
[2012-07-17 06:01:26] <adaqmstgBit> so 66% of the coins are our own?
[2012-07-17 06:02:38] <MC1984> how the dicks has it bounced between 7 and 9
[2012-07-17 06:03:26] <EmanuelDeOrtego> pirate
[2012-07-17 06:03:34] <pirateat40> yes
[2012-07-17 06:03:40] <NxTitle> why
[2012-07-17 06:03:41] <biteylerk> Also he doesn't pass the profit to the incestors - he keeps it for himself. He's a pirate, damn it! Arrr!
[2012-07-17 06:04:12] <Chaaang-Noi> he is the caption of the pirate ship BTCST
[2012-07-17 06:04:55] <Xian01> pirateat40, sorry for the off-topic, but I applied for a gpumax account >30 days ago. Are you that backlogged ?
[2012-07-17 06:04:13] <opticbit> can we expect more than 7% in our accounts next monday?
[2012-07-17 06:05:31] <pirateat40> opticbit, as long as I hold your coins.. you'll be paid.
[2012-07-17 06:10:51] <Hexadecibel> seriously though, I really, really wish pirate the best. It's been this long, people have had this much warning. You only have yourselves to blame when he runs with your money
[2012-07-17 06:10:57] <Hexadecibel> and he'll deserve every penny
[2012-07-17 06:29:31] <wogaut> ok, later!
[2012-07-17 06:34:59] <Xian01> maybe someone should update the topic
"Yes, the forums are down. It's not just you"
[2012-07-17 06:36:05] <EmanuelDeOrtego> Pireat40, my firm just got me some Mt. Gox dollars in my account.
[2012-07-17 06:36:07] <pirateat40> Last warning....
[2012-07-17 06:36:13] <EmanuelDeOrtego> Continue this selling and I'll buy it up to $10.
[2012-07-17 06:36:17] <EmanuelDeOrtego> Right now.
[2012-07-17 06:36:19] <Gladamas> ;;ticker
[2012-07-17 06:36:20] <gribble> Best bid: 8.08987, Best ask: 8.08988, Bid-ask spread: 1.00000000014e-05, Last trade: 8.08989, 24 hour volume: 203928, 24 hour low: 7.6, 24 hour high: 9.49
[2012-07-17 06:36:28] <Hexadecibel> warning for what?
[2012-07-17 06:36:31] <pirateat40> Sell everything
[2012-07-17 06:36:35] <Hexadecibel> meh
[2012-07-17 06:36:38] <dub> im buying
[2012-07-17 06:36:40] <Hexadecibel> bring to 1
[2012-07-17 06:36:40] <adamstgBit> wait what> "last warning" ??/
[2012-07-17 06:36:50] <EmanuelDeOrtego> He's bluffing guys.
[2012-07-17 06:36:55] <EmanuelDeOrtego> Just buy it all out before I do.
[2012-07-17 06:37:01] <dub> buy high sell low
[2012-07-17 06:37:53] <NxTitle> 05:36 < EmanuelDeOrtego> He's bluffing guys.
[2012-07-17 06:37:53] <NxTitle> 05:36 < EmanuelDeOrtego> Just buy it all out before I do.
[2012-07-17 06:38:21] <adamstgBit> lol this is crazy
If you're one of the tl;dr crowd, here's a sum-up (and if not here's the whole pastebin
Jul 24 05:08:52 <dub> mircea_popescu: it was in #bitcoin that manipulation shit went down, fuck looking for itII. The mysterious case of the death of Mr. MtGox.
Jul 24 05:15:36 <dub> mircea_popescu: some of that loss would be during that event though
Jul 24 05:16:07 <dub> he was raging about the rally, telling people to stop buying or he would fuck the market up
Jul 24 05:16:11 <mircea_popescu> yeah
Jul 24 05:16:34 <dub> then sold massively and didnt make a dent in the rally
Jul 24 05:16:35 <mircea_popescu> kinda ridiculous if you think about it.
On April 8th
I would say that on the balance of evidence available, MtGox is more likely to be a scam than a legitimate operation at this point. The trifecta of tight lipped yet deceitful reps ; soft as opposed to hard liabilities coupled with a tendency towards further softening and arbitrary, case-by-case handling of accounts showing extreme sensitivity to public exposure is present and that's enough for my needs.
At this point I would advise anyone against keeping any sums on MtGox overnight, fiat or BTC. Their reaction will probably be to make transfers even slower, in an attempt to discourage capital flight. Take a moment and think things through : if your reason for keeping capital on MtGox is that you don't want to wait for their excessive transfer delays, isn't this in and of itself proof that you really shouldn't be there at all ?
To quote the commenters of today
III. The mysterious death of Mr. GLBSE.
Some months later and this is the situation:
- MtGox declared a "withdraw freeze" and nobody could make withdraw requests for two weeks.
- A lot of people report big withdraws made before this freeze still have not come through.
- People have now been waiting 2 months for USD withdraws and 1-3 months for EUR withdraws.https://bitcointalk.org/index.php?topic=179586.540
You were spot on ahead of your time.
On May 30th, I was saying at his orders,
Nefario: You are obviously unqualified to be anywhere near a project of the complexity of an exchange, even for play money (which I suspect BTC are, for most of you here, at least judging on behavior records). I will make you precisely one offer to buy the thing from you, so you get to actually make some money for all your effort over the past year, as misguided and mismanaged as it may have been, rather than have to walk away from a worthless wreck (like Zou Thong/Amir&co have with Bitcoinica). If you have half the maturity you should have to be involved in all this you will take this offer seriously, and consider your options carefully. Feel free to make contact via pm or in #bitcoin-otc-eu.
Four months later Nefario was scammer tagged. Contrary to what you may think, the tag is because he did walk away with more than his braindamaged project was worth
Note that these three aren't by any means the whole story, they're just the story since April or so, limited to what I could be bothered to document.
This is your God. Bow to him.
The mandatory Why So Serious post scriptum:
May 29 16:03:14 <pigeons> I just got a solicitation from Matthew N. Wright for a conference he is organizing in Amsterdam.
May 29 16:03:26 <pigeons> damn mircea_popescu you are right about these conference organizer people
May 29 16:03:54 <mircea_popescu> eh ?
May 29 16:04:20 <pigeons> bruce wagner had a conference, we had the intersangro one with nefario, the last one was sponsered by vessenes and now matthew n wright
May 29 16:04:37 <mircea_popescu> lol
May 29 16:04:41 <mircea_popescu> you know i also had one.
May 29 16:04:54 <pigeons> lol
May 29 16:05:29 <mircea_popescu> mine however was ciuuuuuulll
May 29 16:05:34 <mircea_popescu> cause it wasn't in schiuuuuullll