flinchy
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Activity: 98
Merit: 10
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March 26, 2014, 12:54:59 AM |
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The price goes up because of the multipools buying it. They all stopped to sort their code issues out, it stalled it a bit and then the cryptorush selling took place and buying carried on to take advantage of cheaper pries, keeping it in balance.
nah that's not just it.. multipools do MAYBE like 100BTC a day of volume there was 1700BTC of volume yesterday. |
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teamlottowin
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March 26, 2014, 12:58:00 AM |
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The price goes up because of the multipools buying it. They all stopped to sort their code issues out, it stalled it a bit and then the cryptorush selling took place and buying carried on to take advantage of cheaper pries, keeping it in balance.
nah that's not just it.. multipools do MAYBE like 100BTC a day of volume there was 1700BTC of volume yesterday.
^^^^
What he said |
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David Latapie
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March 26, 2014, 12:58:23 AM |
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No one is saying not to be cautious but a market gaining 4% after the day we had today is simply astonishing. Alright. I will move my newly-acquired BC to wallet (well, the ones I did not lost stupidly in day-trading) to my wallet for stacking and I will go to sleep. Bonne nuit ! |
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jamieb81
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March 26, 2014, 01:00:41 AM |
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No one is saying not to be cautious but a market gaining 4% after the day we had today is simply astonishing. Alright. I will move my newly-acquired BC to wallet (well, the ones I did not lost stupidly in day-trading) to my wallet for stacking and I will go to sleep. Bonne nuit ! good night fais de beaux BC rêves lol |
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litecoinbc
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Activity: 57
Merit: 0
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March 26, 2014, 01:04:08 AM |
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The price goes up because of the multipools buying it. They all stopped to sort their code issues out, it stalled it a bit and then the cryptorush selling took place and buying carried on to take advantage of cheaper pries, keeping it in balance.
nah that's not just it.. multipools do MAYBE like 100BTC a day of volume there was 1700BTC of volume yesterday.
^^^^
What he saidThe multipools do buy 100BTC of coins per day give or take, we wont know for sure and it will vary. This is true BC buys, the 1000-1700BTC volume trading is not what is really driving up the market, it is new money coming into the system (ie multipool). When the pools are putting constant buy pressure on the currency then it will trend upwards, until such time that it is accepted widely and there is more natural buy pressure (remember that there are still only 9000 BC wallets, so there are few people that know of this) |
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ssaCEO
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March 26, 2014, 01:05:50 AM |
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I think this kind of regrouping and settling is really good to see. Nothing is a constant upward march every day of the year. More stability breeds more confidence, which brings more merchants, which breeds more confidence. Looks like confirmation bias to me. Nothing personal (actually, the fact that the post is from you makes me give it more credit), but I've seen the damages of confirmation bias before. Once bitten, twice shy, as they say. It's quite surprising that the price didn't take a much larger hit on the order of 50-70% given what happened today. Not that it matters if you're holding for the long term and believe in the basic principles behind the coin. But I think 1-2 days of relative price stability is a fantastically good signal from the market, not the other way around. I'll take you word. I am not convinced but you seem to have a much better understanding of markets than me, so I will follow you despite my concern over possible confirmation bias. I am by no means saying that BC's continued survival and stability through this is proof of anything -- or that anything is going to happen in the future. And I wouldn't encourage anyone to follow my investments (or follow anyone's!) but to do their own research and come to their own conclusions. I'm obviously fairly bullish on BC which is why I brought the casino into it. But we have weathered several Bitcoin force-5 hurricanes over the years without losing a significant amount at the worst of times and also without becoming fabulously rich off the rise in the currency. I've always maintained that the "intrinsic" value of Bitcoin and other virtual coins is proportional to their utility as a unit of trade that cuts out the inefficiencies of merchant and banking fees -- which in theory should be at least 5% of the global economy. But the middlemen who charge those fees take on risk and create stability that the consumer or individual merchant isn't always willing or able to shoulder. So far from saying that this two-day lull means BC's going to go up in value, what I'm saying is that it's a positive sign to see it stay where it is for awhile. Because that makes it easier for other people to adopt. The people who buy it looking for a quick return are not the people you want in it if you want to see it go to 100 times its current value... it will only do that if it attracts people who trust it, and these kinds of retrenchments build new floors of trust with the people you need to put serious attention into it. tl;dr, I'm not saying buy buy buy, this is proof of anything, or reconfirming my own beliefs. Just that I'm pleased with what I've seen today. |
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yourstruly
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March 26, 2014, 01:12:32 AM |
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No one should be saying buy buy buy, we need be saying build build build.
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David Latapie
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March 26, 2014, 01:14:57 AM |
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Woohoo! I managed to get 100 BC buy day-trading! I know this is not a lot but this is the first time I succeed.
I feel bad for those I "stole" BC from, but on the other hand, they know the risk of day-trading (plus, I still lost 900 from day-trading).
quote author=ssaCEO link=topic=469640.msg5903163#msg5903163 date=1395795950]So far from saying that this two-day lull means BC's going to go up in value, what I'm saying is that it's a positive sign to see it stay where it is for awhile. Because that makes it easier for other people to adopt.[/quote]Once again a great post. I particularly like this sentence.
Now going to sleep. For real (thanks jamieb81).
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Blackblanco
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Activity: 90
Merit: 10
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March 26, 2014, 01:21:12 AM
Last edit: March 26, 2014, 01:51:44 AM by Blackblanco |
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http://pastebin.com/CiqGSfXDHey guys i think this pretty much sums up what happened. cryptorush is to blame and dev's behavior is childish and ridiculous..."I am killing this coin" lol, what an illusion of grandeur, to think you have the power to kill blackcoin just because you are a cryptorush dev lmao Well glad you are LYFA, but some of us have had our coins vanish. Glad you think the whole thing is so funny though. Maybe you should actually do your research and determine which exchange has fewer faults Yeah because those exchanges are failsafe and it's my fault that people are dishonest thieves that withdraw coins that don't belong to them. Just in case anyone cares, when I saw a discrepancy in my balance on an exchange that showed me there were coins I didn't purchase, I contacted the admin. So , let's put blame where it belongs. If people weren't dishonest scumbags, none of this would even be an issue. But thanks for your input. According to my research, any exchange that has been in business long enough has had a problem at some time or another. So, if something similar ever happens on MintPal, I guess that would be my fault as well. Well, if anyone who withdrew any coins from CR that didn't belong to them and feel compelled for some reason to give any back, I lost 6700 that I bought between 900 and 3K satoshi. Thanks if you have a conscience: BMzphiQ2NVXotkVCA7zECo5FfbAjrt368u |
"Money is better than poverty, if only for financial reasons." - Woody Allen
Robbed of 6700 BC, bought at 3k sat. Donations much appreciated. BMzphiQ2NVXotkVCA7zECo5FfbAjrt368u ZET: ZRKFgHFhKYiyL6r1o3cU5swwvF2GBoAEjt
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jonnysomething
Member
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Activity: 98
Merit: 10
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March 26, 2014, 01:34:12 AM |
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Tried out the multipool to see how it pays, haven't received any coins after more than 24 hours mining at 2440khs
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yourstruly
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March 26, 2014, 01:35:45 AM |
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That is a very good sign. |
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BEECoinfan
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March 26, 2014, 01:38:10 AM |
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Crypto Rush @TheCryptoRush 35m
Update on BlackCoin: Still waiting for the developer to assist us with the issues we're having.
Cryptorush sucks. How did every other exchange manage to get it working, but they cant? It takes less than 5 minutes to rebuild the daemon from source. They can't even keep BTC working either. Could a Dev please assist cryptorush in fixing their Black coin wallet. I have a heap their that have been "frozen" since last night (Australia time). I promise I will move them to a more efficient exchange.....Please! (we know your busy but just this once  ) Also anybody else unable to withdraw their BTC from Cryptorush? CR IRC says 1.5 blackcoins have been stolen. All blackcoin balances wiped out. 1.5? 1.5 million, sorry So they are going mtgox style ? xD. Fuck sake, 1.5 million dump incoming then - likely Mintpal as that's where the volume is at. NNNNNNNNNNNNNOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Damm crypto shit prepare for discout  ... Hmm wait if that is FUD to get price down ? Or they just can't sych wallet... Lol if that was the case then Cryptorush are not just the worst exchange out there - they are fucking idiots. Just wanted to say thank you to Rat4 for attempting to help Cryptorush with their problem... I would send you a BC tip but as Stated before they goxed me My BC were their. Lost just over 35,000BC, which hurts because I actually bought my BTC to buy Blackcoin this week. |
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Zackgeno96
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March 26, 2014, 01:41:09 AM |
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Crypto Rush @TheCryptoRush 35m
Update on BlackCoin: Still waiting for the developer to assist us with the issues we're having.
Cryptorush sucks. How did every other exchange manage to get it working, but they cant? It takes less than 5 minutes to rebuild the daemon from source. They can't even keep BTC working either. Could a Dev please assist cryptorush in fixing their Black coin wallet. I have a heap their that have been "frozen" since last night (Australia time). I promise I will move them to a more efficient exchange.....Please! (we know your busy but just this once ) Also anybody else unable to withdraw their BTC from Cryptorush? CR IRC says 1.5 blackcoins have been stolen. All blackcoin balances wiped out. 1.5? 1.5 million, sorry So they are going mtgox style ? xD. Fuck sake, 1.5 million dump incoming then - likely Mintpal as that's where the volume is at. NNNNNNNNNNNNNOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Damm crypto shit prepare for discout ... Hmm wait if that is FUD to get price down ? Or they just can't sych wallet... Lol if that was the case then Cryptorush are not just the worst exchange out there - they are fucking idiots. Just wanted to say thank you to Rat4 for attempting to help Cryptorush with their problem... I would send you a BC tip but as Stated before they goxed me My BC were their. Lost just over 35,000BC, which hurts because I actually bought my BTC to buy Blackcoin this week. well, they said they are gonna try to repay everyone. so hopefully you get your BC back  |
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TheGift73
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March 26, 2014, 01:47:12 AM |
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Serious question, and probably more aimed at UK people, especially given as the IRS in the US have just declared that bitcoins will now be treated as property and liable for taxing; but say that in about 6 months or so from now my investments in altcoins are worth approx 100+ BTC would I be liable to pay high tax rates when converting to fiat and putting it into my bank account.
Would the sudden depositing of money into my account (something they won't be used to except from my salary) trigger some kind of internal alarm whereby the tax office are notified?
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XbladeX
Legendary
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Activity: 1302
Merit: 1002
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March 26, 2014, 01:53:52 AM |
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Serious question, and probably more aimed at UK people, especially given as the IRS in the US have just declared that bitcoins will now be treated as property and liable for taxing; but say that in about 6 months or so from now my investments in altcoins are worth approx 100+ BTC would I be liable to pay high tax rates when converting to fiat and putting it into my bank account.
Would the sudden depositing of money into my account (something they won't be used to except from my salary) trigger some kind of internal alarm whereby the tax office are notified?
for sure they will spy all in EU. Now EU made open for all tax offices Bank accounts data from all EU countries. They have special algorithms to find people trying avoid taxes. Best wat to keep BTC and BC is to keep them on own.Exchange to fiat only with extremely cases. |
Request / 26th September / 2022 APP-06-22-4587
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CatKiwi
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March 26, 2014, 01:54:15 AM |
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Bought 4.7BTC worth between 7900 and 7990 over the past two hours. As the others have said, the fact that we have not only bounced back but gained value over this time is extraordinary. This could be the last time we see <8000 for quite some time, buy power has simply been too strong for the dumpers to win!
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TheGift73
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March 26, 2014, 02:06:19 AM |
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Serious question, and probably more aimed at UK people, especially given as the IRS in the US have just declared that bitcoins will now be treated as property and liable for taxing; but say that in about 6 months or so from now my investments in altcoins are worth approx 100+ BTC would I be liable to pay high tax rates when converting to fiat and putting it into my bank account.
Would the sudden depositing of money into my account (something they won't be used to except from my salary) trigger some kind of internal alarm whereby the tax office are notified?
for sure they will spy all in EU. Now EU made open for all tax offices Bank accounts data from all EU countries. They have special algorithms to find people trying avoid taxes. Best wat to keep BTC and BC is to keep them on own.Exchange to fiat only with extremely cases. Thank you the reply. So if/when I do decide to exchange some BTC to fiat how would one go about paying taxes to keep everything above board. Would I still be liable to pay takes as a UK resident if I were to be living in Denmark at the time and placed the money into a Danish bank account. I believe that in Denmark, trading in BTC is tax free? |
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CatKiwi
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March 26, 2014, 02:10:08 AM |
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So someone buys up everything to 8300 and STILL there are fools who sell at 8000 in a panic haha Making money off you fools don't you see that? Escalate your sell orders or we shall buy em up cheap and sell em for 10% more in an hour - your choice!
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David Latapie
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March 26, 2014, 02:10:25 AM |
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Would the sudden depositing of money into my account (something they won't be used to except from my salary) trigger some kind of internal alarm whereby the tax office are notified? It could actually increase adoption of BTC - this would not be the first time a governmental measure turns out counter-productive. Basically, this says "if you pay it in BTC, this is cheaper". People will start paying in BTC instead of paying a premium (plus fees) for converting in cash. how ironic. |
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JamesR1
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March 26, 2014, 02:21:07 AM |
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I've spoken to a couple of accountants on this and they actually feel under hmrc rules that mining can be taxable as an income and the gains from trading as an income (or gains). Try working out the value of the coin as you mine it. The technicalities of it being this way, is that if you said it wasn't correct at a certain point, i.e. mining and rewards every 30 secs to 10 minutes, then it draws into question why some things are taxable and others are not. I.e. there's no real reason to suppose that anything isn't taxable. Because this occurs whilst you are earning an income per its value.
HMRC haven't really made up their minds (which is where other countries may be similar, but they have to opt out) The IRS ruling is an opt out of one thing into another. They only made up their mind about vat on bitcoin.
Its dubious to assume. If you can get in writing from them then you can follow what they say, or you could be more laisse faire about it, but that's not exactly a great thing to do.
They should make up their minds. Support the exchanges, make exchange insurance a regulation. Financially back it similar to the banking sector and provide security for bitcoin and alt currency users. The more they support it, the more money the exchanges get in the countries that back their exchanges process. The more tax they get from those exchanges and the more they can add to their budget and benefit everyone.
Its sad exchanges getting robbed and the people going without.
If governments back it, they see the benefit, and people don't loose money. Whilst its a lot easier to deal with a real theif than a government stealing your money though. That's simply evil.
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