Bitcoin at all time high

[donkdowndonedied]

Mtgox definitely does keep funds. You have BTC balance and USD. (if american)

I am not so sure they aren't regulated. They are able to do either ACHs or wire-transfers and they want the full gamut of documentation before you can withdraw. I tried this once, gave them what they asked for, no response. 2 months later I get an email saying it was denied, but by then I had moved on after SELLING my BTC then buying it back to xfer out because I was tired of their slow ass bullshit. I used coinbase, which sucked for low daily limits but at least I didn't have to do the whole 2 ID blah blah, no response, website not written by native english speaker. I believe mtgox is japanese, not 100% sure. I would think that to deal with American banking system you have to be regulated on some level.

This is why I snicker when I see people talk bout btc not being liquid. It is far more liquid in the digital economy. It is USD that isn't liquid once you are online.

If most of the people doing the bankrun are American, they don't need to shutdown a day to prevent this. I'm sure a lot of people haven't submitted documentation. It is the same shit why I couldn't deposit money on Etrade to get down money on presidential races with skewed lines. American banking system sucks when the uber rich are allowed to evade taxes like crazy and little guys like me can't get a few K into an account without jumping through hoops.

Listen up. The question isn't do they hold US dollars, or some other currency on behalf of clients. They can hold peoples US dollars and they can hold peoples bitcoins but never do they hold the value of someones bitcoins in US dollars or someones US dollars in bitcoins. For this reason they are not exposed to the volatility of the market they run. They are not a middleman buying and reselling bitcoins. They simply match buyers with sellers.

Do you understand?

Huh? Cmoney asked whether mtgox held funds. There are all sorts of questions. I have no idea what you are blabbing on about, but it isn't pertinent.

Where did I say they hold someone's bitcoins in US dollars ????? I said accounts have 2 balances, btc and USD (if american)

Can you read ?

Get back to backing up sonatine, you illiterate idiot. jesus christ.

[Dan Druff]

Interesting what's happening on MtGox. It initially fell to around 70, then spiked back up, and is currently at 114.

I think there are some people buying right now, thinking they will capitalize on panic-selling.

I still don't think 100+ is sustainable even in the short term.

[sonatine]

When it hits 10 Im going to snatch some up.





Maybe.

[donkdowndonedied]

whats another good one to use beside Mt Gox I cash in and out of my ipoker account using bitcoin and am looking to cashout soon. Im a newbie with this bitshit

coinbase is what I used, but they have some weird daily minimums and I'm not entirely sure how well they work these days. Apparently the minimums can be 0 one day once they reach some magic number. You could also go on silkroad and have someone send you straight cash money, homey.. but at a big vig.

[Rollo Tomasi]

[BetCheckBet]

Mtgox definitely does keep funds. You have BTC balance and USD. (if american)

I am not so sure they aren't regulated. They are able to do either ACHs or wire-transfers and they want the full gamut of documentation before you can withdraw. I tried this once, gave them what they asked for, no response. 2 months later I get an email saying it was denied, but by then I had moved on after SELLING my BTC then buying it back to xfer out because I was tired of their slow ass bullshit. I used coinbase, which sucked for low daily limits but at least I didn't have to do the whole 2 ID blah blah, no response, website not written by native english speaker. I believe mtgox is japanese, not 100% sure. I would think that to deal with American banking system you have to be regulated on some level.

This is why I snicker when I see people talk bout btc not being liquid. It is far more liquid in the digital economy. It is USD that isn't liquid once you are online.

If most of the people doing the bankrun are American, they don't need to shutdown a day to prevent this. I'm sure a lot of people haven't submitted documentation. It is the same shit why I couldn't deposit money on Etrade to get down money on presidential races with skewed lines. American banking system sucks when the uber rich are allowed to evade taxes like crazy and little guys like me can't get a few K into an account without jumping through hoops.

Listen up. The question isn't do they hold US dollars, or some other currency on behalf of clients. They can hold peoples US dollars and they can hold peoples bitcoins but never do they hold the value of someones bitcoins in US dollars or someones US dollars in bitcoins. For this reason they are not exposed to the volatility of the market they run. They are not a middleman buying and reselling bitcoins. They simply match buyers with sellers.

Do you understand?

You specifically stated "the exchanges are not holding funds for anyone". This is clearly not true as they hold millions and millions of dollars in both cash and bitcoin. I really wonder what caused you to make such a definitive statement....

Also if you think they have 100% of players funds safe you are making a big assumption (especially when you are dealing with a currency that fluctuates so quickly). I could easily reference FTP poker as an example but there are about a dozen better examples of smaller casinos that went under 6 years ago because they were playing around with players funds during a time when the EURO crashed and could not offered to pay back players as a result.

[sonatine]

whats another good one to use beside Mt Gox I cash in and out of my ipoker account using bitcoin and am looking to cashout soon. Im a newbie with this bitshit

coinbase is what I used, but they have some weird daily minimums and I'm not entirely sure how well they work these days. Apparently the minimums can be 0 one day once they reach some magic number. You could also go on silkroad and have someone send you straight cash money, homey.. but at a big vig.

Coinbase Error

Whoops! It looks like we encountered a problem. We've been notificed about the issue and will take a look shortly.

Please click the back button and try again in a few minutes or if the problem persists feel free to add a Bug Report. Sorry for the trouble!

Wow they must use that same sophisticated hardware and applications you're positive Mt. Gox runs!

[sonatine]

holy shit.....

[The_PHA]

This really is a sad state of affairs. Think about this. This currency was invented by a computer programmer in 2009. It's not backed by anything. The USD is backed strictly by the USA: its government, military, land, food, electricity, natural resources, intellectual property, technology, infrastructure, etc... Trying to compare the two is just hilarious.

You know what this 2009 computer program is based on? Hope and Dreams. It can never survive because its based on nothing, except trust among a bunch of douche bags trying to make a buck. It just another penny stock scheme.

[donkdowndonedied]

coinbase is what I used, but they have some weird daily minimums and I'm not entirely sure how well they work these days. Apparently the minimums can be 0 one day once they reach some magic number. You could also go on silkroad and have someone send you straight cash money, homey.. but at a big vig.

Coinbase Error

Whoops! It looks like we encountered a problem. We've been notificed about the issue and will take a look shortly.

Please click the back button and try again in a few minutes or if the problem persists feel free to add a Bug Report. Sorry for the trouble!

Wow they must use that same sophisticated hardware and applications you're positive Mt. Gox runs!

I just said it worked for me. Funny, when I went to their site it came up perfectly. I would guess they're being DDOSed too. You're trying waaaaay too hard. It is irrelevant whether mt gox is more "sophisticated" or not than your typical bank. Get over it, bro. Your bitterness shows.

[cmoney]

This really is a sad state of affairs. Think about this. This currency was invented by a computer programmer in 2009. It's not backed by anything. The USD is backed strictly by the USA: its government, military, land, food, electricity, natural resources, intellectual property, technology, infrastructure, etc... Trying to compare the two is just hilarious.

You know what this 2009 computer program is based on? Hope and Dreams. It can never survive because its based on nothing, except trust among a bunch of douche bags trying to make a buck. It just another penny stock scheme.

QFT

If you want to play in the pits then good luck. But realize at least that is what it is. Playing in the pits

Funny how people try to make it out to be so much more.

[sonatine]

Thats crazy, a junkie who watches peoples pot farms for a living vouches for the integrity of Mt Gox's infrastructure.

Get a clue guys, your bitterness is showing.

[donkdowndonedied]

Thats crazy, a junkie who watches peoples pot farms for a living vouches for the integrity of Mt Gox's infrastructure.

Get a clue guys, your bitterness is showing.

You are 100% a creep and I am by far not the only one who thinks this. This includes multiple people you have met in real life. Please, leave me alone and stop stalking me. I don't want to get into these games. I was 100% truthful when I said I use different names on different sites to avoid creeps like you. You just lie and make up shit and I don't care to get dragged into this. The only way I can combat such things is to start making up shit about you in return, which I have yet to do.

[BCR]

i was discussing this with a gov friend this morning and all he had to say was "when the majority of an entities userbase is in eastern europe, you dont want to be involved."

at this point id put the odds at 80% that eastern euro crimesphere is arbitrarily manipulating this market. it simply has all the hallmarks. its sophisticated, its relentless, and its working.

If this is true, and eastern europeans are both holding 80%, and also the ones behind the denial of service/and or hacking attacks, then logically wouldn't it be likely they dumped a ton the other day at $250- $260, and are now tanking the market to acquire more in order to run them up again?

There is nothing illegal is simply holding bitcoins, is there? I understand they are used in practical terms for many illegal things, but I am trying to understand if the logical move should these bitches go way down to some absurd $29 number, the only value to those manipulating the markets is to acquire more, and manipulate them back up again, correct?

It would seem a calculated, but smart risk to buy a 1000 if they hit a number like $29, and just gamble that they will run them up again, wouldn't it? They are doing all the work. You could lose $30k obviously, but it seems a better chance they manipulate it back up to $250 than they go to a penny if they have this capability?

I am not trying to get in the middle of this argument whether this is actually what is going on, both you and dddonedied are far better versed in technology, and I have no clue who is right.

I am just hearing two arguments, his that they are inherently valuable, have useful application, and won't likely be shut down easily. You're arguing that the market is being manipulated by the criminal element in a successful manner, but both those arguments would suggest that taking a winger on an amount you can afford to lose isn't necessarily a bad idea, at least in the short term.


In the time since I started writing this, they have went from $75 back to $120. lulz

I mean, at what number do even the skeptics pounce to buy? There has to be a number where it's simply worth the risk even if you have no firm belief in their long term viability. Rarely does one get a chance to get in low on something like this once you've missed the boat after the initial run up.

[Rollo Tomasi]

There are currently 36 users browsing this thread. (14 members and 22 guests)
Rollo Tomasi, 4Dragons, BCR, Beebs9Dizzle, Crowe Diddly, donkdowndonedied, garrett, kmksmkn, lewfather, Muck Ficon, nunbeater, sonatine, The_PHA, vegas1369

hi Beebs how's the new BF

[The_PHA]

QFT

If you want to play in the pits then good luck. But realize at least that is what it is. Playing in the pits

Funny how people try to make it out to be so much more.

The only thing you have said that was intelligent on bitcoins was how it could not be a legit currency. But just about everyone has said that. Get in line.

Not sure what it is you are trying to articulate. It's just another keno trap where people are trying to guess numbers. There has never been any demand for this crypto currency.

Just because you do not type in all CAPS anymore does not make you an investment guru. A blind fucking pig could see this "currency" as a fucking joke.

You are not Jim Rogers.

[BeerAndPoker]

Last price:$95.10000
High:$188.70000
Low:$65.00000

[BCR]

When it hits 10 Im going to snatch some up.





Maybe.

Ah, I hadn't yet read this when I posed the questions. I haven't followed these at all, just the discussion of them, and both arguments were pointing to there is a number at which to buy even if you think they are a joke, or don't. I also misread your post as saying they were holding 80%, as opposed to saying you thought there was an 80% chance they were behind manipulation.

As totally uninformed as I am, it's been fun to watch. It would have been more fun had I owned some though back when Micon was handing them out like candy.

[donkdowndonedied]

i was discussing this with a gov friend this morning and all he had to say was "when the majority of an entities userbase is in eastern europe, you dont want to be involved."

at this point id put the odds at 80% that eastern euro crimesphere is arbitrarily manipulating this market. it simply has all the hallmarks. its sophisticated, its relentless, and its working.

If this is true, and eastern europeans are both holding 80%, and also the ones behind the denial of service/and or hacking attacks, then logically wouldn't it be likely they dumped a ton the other day at $250- $260, and are now tanking the market to acquire more in order to run them up again?

There is nothing illegal is simply holding bitcoins, is there? I understand they are used in practical terms for many illegal things, but I am trying to understand if the logical move should these bitches go way down to some absurd $29 number, the only value to those manipulating the markets is to acquire more, and manipulate them back up again, correct?

It would seem a calculated, but smart risk to buy a 1000 if they hit a number like $29, and just gamble that they will run them up again, wouldn't it? They are doing all the work. You could lose $30k obviously, but it seems a better chance they manipulate it back up to $250 than they go to a penny if they have this capability?

I am not trying to get in the middle of this argument whether this is actually what is going on, both you and dddonedied are far better versed in technology, and I have no clue who is right.

I am just hearing two arguments, his that they are inherently valuable, have useful application, and won't likely be shut down easily. You're arguing that the market is being manipulated by the criminal element in a successful manner, but both those arguments would suggest that taking a winger on an amount you can afford to lose isn't necessarily a bad idea, at least in the short term.


In the time since I started writing this, they have went from $75 back to $120. lulz

I mean, at what number do even the skeptics pounce to buy? There has to be a number where it's simply worth the risk even if you have no firm belief in their long term viability. Rarely does one get a chance to get in low on something like this once you've missed the boat after the initial run up.

BCR, here is the thing. If oyu buy them at $20 I'm sure you'll be fine. There is little that has happened today except that people will be scared to buy bitcoins for signficant purchases. You could probably buy them at 50, but I wouldn't suggest it. 20 seems pretty conservative. BTC may be taking a hit over their volatility, but they are on EVERYONE's radar now. That includes unfortunately the government, but I don't know if they'll step in to "protect investors". meh.

I've never said it wasn't eastern europeans, but thats sonatine's schtick. Always vague conspiracies and act like you have some sorta special info. He may very well be right, but no one has ever really put forth how these "manipulations" are working except DDOS = drop in prices. I think it is a lot more likely to be random speculation. I have no idea what sorta fools would buy btc at $250, but if you have been around gambling you know how degenerate people can be. I'd believe the manipulation conspiracy if someone put forth a solid plan on how it plays out, but I never see it.. just vague ideas people have. And those that push these vague ideas already have a side they are pushing... So their ego is quite vested. See both Sonatine and Druff have hated on btc since the start and both are jumping at the chance to be right about this stuff. And partially they are... but it is easy to do with vagueness.

I, like you, do not understand how BTC went up to $250 via manipulation unless there is a lot of foreign press we're not aware of.

This is a disruptive technology and there is little people have to go on. The only real thing we know is that the US government will become more involved at some point, especially when lobbyists become involved. They'll never have a valid reason to completely ban them though, but maybe so. We also don't read greek news etc, so it is hard to get a feel if there is some pump'n'dump scheme going on in another country. You never had this problem with USD stocks etc, because you can go read the news yourself. So if you are sharp, in the past, you'd be able to read between the lines. Again, it is a technology that is unique and pretty much an unchartered area of history. Most American media is so dumbed down you won't get a real answer either. You're a smart guy, I've always said that. Good luck weeding through the noise.

[ThreeBet]