Fresh breakout. $411
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Fresh breakout. $411
the markets are taking a beeeeeating today so im assuming these are chinese investors panic-stashing. maybe? maybe not?
Yeah Bitcoin is donkdown.
Oh:
http://www.theguardian.com/technolog...ice?CMP=twt_gu
Quote:
Police have raided the home of an Australian tech entrepreneur identified by two investigations as one of the early developers of the digital currency bitcoin.
On Wednesday afternoon, police forced open a home belonging to Craig Wright, who had hours earlier been identified in investigations by Gizmodo and Wired, based on leaked transcripts of legal interviews and files. Both sites have indicated that they believe Wright to have been involved in the creation of the cryptocurrency.
More than 10 police personnel arrived at the house in the Sydney suburb of Gordon at about 1.30pm. Two police staff wearing white gloves could be seen from the street searching the cupboards and surfaces of the garage. At least three more were seen from the front door.
Guardian Australia understands the raids are not related to the claims surrounding Wright being involved in the creation of bitcoin, but are related to an Australian Tax Office investigation.
The founder of the software – known pseudonymously as Satoshi Nakamoto – has never been revealed publicly, despite numerous attempts by news organisations.
Wright is involved in a number of tech enterprises in Australia, company records show.
So you pull up a one year chart. Look to see the last time we were at these levels. Ask yourself, "who would want to sell at $420... or whatever".
Answer, no one. Those who bought higher than this probably long ago sold/folded. Thus, no selling pressure.
Prolly run. Next stop $500?
I will be the first to say, and this is hard, I was wrong.
In my defense, I started to heed the crazy Chinese volumes. Like twice usual. This was new.
This thing could launch fast to next stop. I think a lot of folks still haven't seen this move.
This is trading and banking quick bucks. This isn't fundamentals. But who cares?
Just set an alarm or a mental stop. The Chinese doing something rash should concern you.
Yeah but its not going to.Quote:
Originally Posted by Sanlmar
Somebody take a swing.
Is there something inherent in the block chain that prohibits Bank of America (example) from using blockchain for fiat transactions?
Ex: is it impossible for some reason to simply introduce fresh "coin supply" and withdraw same from the blockchain pool?
Countless companies and VC's are working blockchain. Announcements felt more near term than long term to me.
Edit: lol. Answer: banks will patent and bury. Fees baby. VC startup has to fire first.
just saw this and came to post.. similar articleQuote:
Originally Posted by Shizzmoney
http://www.news.com.au/technology/on...03121930c067a9
Quote:
Wright himself owns a few different businesses, with one of his previous ones named Hotwire going into liquidation. The report detailing it on the website of corporate advisory firm McGrathNicol notes that in June 2013 Wright invested $23 million worth of bitcoins into the start-up. At the time of investment, that one sum alone was more than 1.5 per cent of all existing bitcoins.
High possibility it's him I reckon... and why are the ATO chasing him in the first place? (probably because of his unaccounted millions)
"There is a mountain of evidence that suggest Dr Wright is behind bitcoin, starting with a now deleted blog post from 2008 that he published. The post talks about Wright’s intention to release a “cryptocurrency paper”, while also asking those who want to get in touch to send him encrypted messages using a PGP public key linked to the name Satoshi Nakamato.
Another also deleted blog post dated on January 10, 2009 reads that the beta of bitcoin would be live the next day.
There’s also several leaked emails, including one between Wright and his late friend David Kleiman who was a computer forensics analyst, where Kleiman was put in charge of a trust fund, code named “Tulip Trust” which contains 1.1 million bitcoins. Kleiman’s PGP signature signed the PDF document so the document could not be altered at a later point. A further search through the public PGP database reveals that on top of Kleiman’s key, another belongs to Wright and two more belong to Satoshi Nakamoto.
That 1.1 million bitcoin trust fund is currently worth more than $630 million.
That same 1.1 million bitcoin stash is the same amount as a mysterious bitcoin fortune that has believed to be associated Nakamoto. It’s not believe that anyone but the creator would have been able to pull together such a large amount of bitcoin, due to the way that bitcoins are “mined”.
Further leaked emails show Wright trying to sort a tax dispute with the ATO asking, “Would our Japanese friend have weight coming out of retirement?” before signing off another draft email with “Satoshi Nakamoto”."
Fantastic. I can see many lost hours in the coming days.
One wants to link the irrational recent volume and maybe price spike to this story. It's a natural reflex. Wright's on the run. Story has been unwinding for a month.
Every character involved with Bitcoin to date has been eccentric and fascinating. Never any winners but always entertaining. Wright & Kleiman may be the strangest yet.
IN BEFORE KOCH BROTHERS ARE THE REAL SATOSHI CONSPIRACY
You know who is gonna bust a nut tomorrow? Micon.
He is gonna want to run his mouth. Druff, please let Micon run his mouth tomorrow night.
Pride or story? Audience first. Or maybe not.
Quote:
Originally Posted by Sanlmar
A comment about folks who want to launder money that may be overlooked when wondering why someone would be willing to buy into a EV- security: opportunity cost. Even if moving money using Bitcoin is expected to cost a significant percentage, it beats the alternative of most or all of that wealth being confiscated by the authorities.
And to the list of methods of laundering money discussed in this video, add Bitcoin transactions.
http://youtu.be/1ObJPaSZxCs
Feels like Wright is a fraud. Moving on.
Looks like his "employees" were't a fan of Wright's:
In some ways it surpasses the traditional-take the advisor's recommendation and pay regardless.Quote:
Originally Posted by MumblesBadly
You can go it alone of course with or without Bitcoin but I wouldn't trust my mother's advice on this...........
I may still jump in the ring.
$443
Right at the highs of Nov 3 & 4. Ignore the "shadow" (stick) on your candlestick chart. We are talking Chinese charts. That is all that matters.
So if your call is correct Sonatine, this is the line in the sand. Break this and .....
It needs to consolidate and rest up here.
We are all a little tired of this thing but I got some texts from a couple college kids who bought today. $100 or $200 bucks on coinbase. I dunno what their goal is but interesting that a little buzz is developing by those who ordinarily use that money for beer.
I asked them what they thought about Satoshi allegedly being identified and they all said, "huh?" They just heard Bitcoin was running and wanted to gamble. All very proud of their $15 profit.