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Bitbuy
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January 06, 2014, 07:24:14 AM |
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Thank God for Proudhon's sources! At least we know what's gonna happen, confirmed sources and all
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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DPoS
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January 06, 2014, 07:47:24 AM |
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anyone else concerned on the mt gox money trap effect spreading?
is there any inflow/outflow reports of $$/BTC posted by any of these exchanges?
can coinbase survive without switching to a canyon wide buy/sell spread soon?
ringing the alarm now before the real panic sets in and these exchange prices become only real on the buy side in exchanges and selling bitcoin hits the floor outside of these liquidity traps...
we might all have to start volunteering to help places like Kraken actually succeed in registering in each state. Once money can flow both ways price discovery will get interesting but it will be a lot more real than now (whether it crashes or flys to the moon)
If there is a sub forum already addressing these issues, please let me know thx
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piramida
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Activity: 1176
Merit: 1010
Borsche
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January 06, 2014, 08:12:29 AM |
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anyone else concerned on the mt gox money trap effect spreading?
no. |
i am satoshi
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DPoS
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January 06, 2014, 08:48:18 AM |
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anyone else concerned on the mt gox money trap effect spreading?
no. snide and nothing constructive to add... lest you rather go back to spending 10,000 BTC on a pizza you might want to take note of the situation forming |
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piramida
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Borsche
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January 06, 2014, 08:50:38 AM
Last edit: January 06, 2014, 09:08:18 AM by piramida |
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anyone else concerned on the mt gox money trap effect spreading?
no. snide and nothing constructive to add... Well your question has nothing but FUD, too, so I answered accordingly. I don't see any "money trap" effects on any of the exchanges I am using. In fact, I don't even see it at the Gox, considering the correct definition of money - just transferred 20btc out, came in half an hour later. Coinbase works just as perfect as always on the sell side. So again, what exactly are your "concerns" based on? |
i am satoshi
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DPoS
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January 06, 2014, 09:08:42 AM |
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anyone else concerned on the mt gox money trap effect spreading?
no. snide and nothing constructive to add... well you asked I answered. I don't see any "money trap" effects on any of the exchanges I am using. In fact, I don't even see it at the Gox, considering the correct definition of money. again snide... if you get around to lowering your nose to see straight you will see that the run-up from the $100's was directly fueled by exchanges and coinbase widening the paths for money into the bitcoin price discovery.. and now they are closing (china, btc-e, okpay, etc etc) the tipping point will be if coinbase has to do something drastic. as I said before, for transparency we would have to see the inflow/outflows of BTC & fiat from exchanges to answer this question and I don't believe this data is anywhere available except with those running the exchanges PS- everyone is doing what you just did.. I did it as well today which is my concern |
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piramida
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Borsche
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January 06, 2014, 09:16:44 AM |
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as I said before, for transparency we would have to see the inflow/outflows of BTC & fiat from exchanges to answer this question and I don't believe this data is anywhere available except with those running the exchanges
This data is not available right, why would anyone want to provide it? I doubt you can get this info even from your heavily regulated bank unless you are in a monitoring position... You still didn't list you concern's sources. What is the problem you are afraid of, again? btc-e works fine. China is still there, reporting highest trade volumes. OKPay is not a bitcoin exchange at all. "ETC ETC" is a generic term meaning you have something else to add - please do. |
i am satoshi
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DPoS
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January 06, 2014, 09:24:07 AM |
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as I said before, for transparency we would have to see the inflow/outflows of BTC & fiat from exchanges to answer this question and I don't believe this data is anywhere available except with those running the exchanges
This data is not available right, why would anyone want to provide it? I doubt you can get this info even from your heavily regulated bank unless you are in a monitoring position... You still didn't list you concern's sources. What is the problem you are afraid of, again? btc-e works fine. China is still there, reporting highest trade volumes. OKPay is not a bitcoin exchange at all. "ETC ETC" is a generic term meaning you have something else to add - please do. you are also leaving out info. BTC-e has stopped transfer of money with USA sources if you haven't noticed. OKPAY has done the same. (which was a major way USA residents got money into BTC-e) So yes BTC-e as a platform is still great but the money flow has changed. 'China is still there'? China has drastically changed how they deal with money as well..these both resemble what Gox has dealt with. I said etc, etc as the other payment processors like OKPAY have all followed suit. All you stated was moving BTC out from an exchange to Coinbase to cash out. I stated that seems to be the last resort and would be a tipping point if everyone starts crowding one side (the outflow as you and I did today, and many others no doubt) So I guess you don't have concerns until your car breaks down and never see the problem present itself before it breaks? |
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piramida
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Borsche
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January 06, 2014, 09:40:10 AM |
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All you stated was moving BTC out from an exchange to Coinbase to cash out. I stated that seems to be the last resort and would be a tipping point if everyone starts crowding one side (the outflow as you and I did today, and many others no doubt)
Ok now at least you make yourself clear. However, there's more exchanges in US than anywhere else in the world. As for btc-e - don't use it, it works fine where it was intended to, in eastern europe. Bitstamp covers western europe. Mtgox works fine for japanese. All is well. Exchanges mostly make sense locally, that has always been the case. And if you are afraid that your money is stuck - no it's not, convert to BTC, withdraw to your local exchange. There is absolutely nothing different in today's situation from half a year ago, even much better coverage of local exchanges I'd say. |
i am satoshi
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DPoS
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January 06, 2014, 09:52:09 AM |
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All you stated was moving BTC out from an exchange to Coinbase to cash out. I stated that seems to be the last resort and would be a tipping point if everyone starts crowding one side (the outflow as you and I did today, and many others no doubt)
Ok now at least you make yourself clear. However, there's more exchanges in US than anywhere else in the world. As for btc-e - don't use it, it works fine where it was intended to, in eastern europe. Bitstamp covers western europe. Mtgox works fine for japanese. All is well. Exchanges mostly make sense locally, that has always been the case. And if you are afraid that your money is stuck - no it's not, convert to BTC, withdraw to your local exchange. There is absolutely nothing different in today's situation from half a year ago, even much better coverage of local exchanges I'd say. I do not think those USA exchanges allow $$$ to come and go. I would have to research more of them. If so, Kraken would. Coinbase gets around it with their daily limits and KYC process and thus they can't be a true exchange. Perhaps all is fine in Europe but remember what happened to TradeHill. BitStamp is in Slovenia and BTC-e Bulgaria so those areas are probably a bit lax in reacting to USA nanny laws. (yet btc-e had to stop $$ with USA recently) China's issues are all over the news, you know the game changed there. Mt Gox with $$ is a farce. And many say they can't survive without it (hence the 80% market share to ~20%?) Innovation will have to show up soon to provide liquidity in this current AML climate. Call that FUD, I call it concern. Perhaps wall street has a few tricks up their sleeves to buoy this phase of bitcoin's growth. I don't say there is no demand, just the money spigots are not as open as they were in the fall run up. Which is why I wonder about the inflow/outflows. If we did see them we'd probably see stagnant fiat and fleeing BTC hence the drastic run up on low supply in the exchanges. That's my guess. In the past, I would say people would be sending btc into those exchanges to take advantage of those high prices and cash out from there. |
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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January 06, 2014, 10:00:32 AM |
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Oh yeah, MT has some big plans for bitcoin. Keep on the look out, y'all.
MT is the state of Montana, right?
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DPoS
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January 06, 2014, 10:00:42 AM |
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well now...
"Coinbase is currently offline"
high traffic?
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piramida
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Borsche
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January 06, 2014, 11:25:12 AM |
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works here.
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i am satoshi
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DPoS
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January 06, 2014, 11:47:14 AM |
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works here.
been off and on the past hour.. i was able to sell most above 980 but had to do a lot of refreshing when it acted up when i posted.. I will sit out this chaos for now |
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DPoS
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January 17, 2014, 06:41:18 AM |
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and what did I say... coinbase couldn't live the same in that clamp down chaotic environment and thus had to clamp down on their end
reduced instant buys from 10btc/week to 1btc/week
the range is in their hands now, they control the floor and can easily manage their algos now
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jagd
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January 17, 2014, 03:13:38 PM |
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Montana. Where the men are men and the sheep are nervous. |
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piramida
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Borsche
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January 17, 2014, 04:19:50 PM |
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the range is in their hands now, they control the floor and can easily manage their algos now
Sorry I still see 50btc/day buy/sell at the price that is displayed on the page I get when I login. Who controls what? |
i am satoshi
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DPoS
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January 17, 2014, 06:36:02 PM |
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the range is in their hands now, they control the floor and can easily manage their algos now
Sorry I still see 50btc/day buy/sell at the price that is displayed on the page I get when I login. Who controls what? you don't comprehend price discovery so I am not surprised on your response... good to know many of you are still out there that do not realize the importance of crimping 90% of inflow for arbitrage correction while they gladly taking larger funds to frontrun people with their own money in 5-7 day turnaround |
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