$280. Druff panic sold at the exact bottom!Quote:
Originally Posted by snake_in_the_ass
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$280. Druff panic sold at the exact bottom!Quote:
Originally Posted by snake_in_the_ass
Not quite. Exact bottom was $159.Quote:
Originally Posted by snake_in_the_ass$280. Druff panic sold at the exact bottom!Quote:
Originally Posted by snake_in_the_ass
I only had 1.04 BTC, so I wasn't standing to gain a lot even in a rebound like this. I figured it was more likely to crash below 100 than to recover to 300, so I sold.
I must admit that I am perplexed by this rebound. We will see if this rebound differs from the rest we've had since May, where basically bitcoin never settles higher than it was before it started declining. It was in the low 300s before the decline started, so if it settles at 350 or so, then it will be the first time it has appreciated in like 9 months.
What did you buy at??
I am pretty sure this is what is driving BTC back up...going live in a few hours!!! http://techcrunch.com/2015/01/25/coi...coin-exchange/
Coinbase Is Opening The First Regulated Bitcoin Exchange In The U.S.
Posted 1 hour ago by Jon Russell (@jonrussell)
Fresh from scoring a massive $75 million funding round, bitcoin payment firm Coinbase has revealed that it will open the first regulated bitcoin exchange in the U.S. on Monday.
The company, which added the New York Stock Exchange and USAA to its list of investors last week, told the Wall Street Journal that it has “regulatory approval” in half of all states, including significant areas like New York and California. (The New York Department of Financial Services has been very vocal in its call for regulation via a proposed ‘BitLicense’.)
Coinbase already offers exchange services in 19 countries overseas, and it said that its work accruing necessary licenses and approvals in the U.S. took five months. The company will only be able to offer services to customers that sign up in states were it is approved, but there are plans to gain approval in further states.
Exchanges made via the Coinbase service will include a 0.25 percent commission fee that goes to Coinbase, although the company is giving customers two months of free trades to get things going.
The exact legality of bitcoin in the U.S. has been unclear for some time, so Coinbase’s news — and regulatory backing — is a significant mark in the sand.
The busting of Silk Road, an underground market for illicit goods where bitcoin’s anonymity made it a popular payment option, has doubtless eased some early opinions that bitcoin’s modus operandi was financing nefarious activity, but there’s still plenty of uncertainty about it as a digital currency. The price of a single bitcoin dropped as low as $185 this month — it is currently $263, but crossed $1,000 in 2013 — and it is unclear whether it has reached relative stability.
As for the Coinbase business itself, CEO Brian Armstrong is keen to explore the potential of bitcoin in emerging markets, and wants the company to expand its reach to at least 30 countries overall by the end of 2015.
Coinbase had a huge year in 2014, and its achievements included landing several big name retail partners — who began accepting bitcoin for the first time — including Overstock, Dell, Square, Mozilla and Wikipedia.
PS: Did you know we just started a TechCrunch bitcoin podcast? Check it out here — the latest episode is actually about Coinbase and its monster $75 million round.
-- Newly regulated site "legitimizes" a former black/grey market
-- Basically "free" of fees for first 2 mos. or so
-- They have regulatory approval in half of U.S. states, including large population centers such as New York and California
Hmmmm...what other industry does this sound like?
Remember, however, this is the exchange that people were getting questions and possibly their accounts blocked when Coinbase believed it was for gambling purposes...so this might not be the silver bullet for our intended uses.
Wait, so you can use Coinbase without fees for 2 months if you had an existing account, or only new accounts?
Dunno, Druff...I was pretty surprised to see this too...Wait have you already used them? (I know you talked about them on Radio) I thought they were going "live" in the USA tomorrow, but were only avail. in other countries up until now...Quote:
Originally Posted by Dan Druff
Was reading in the Wall Street Journal last Friday about the Winklvii close to approval with their exchange, Gemini.
What continues to strike me is the approval process leads you through Lawsky and New York Financial Services (the BitLicense crew).
The likelihood of regulation increases with each approach like Coinbase and now Gemini.
Western Union, PayPal, Bitcoin and all the rest will be tested. The irony is that the approval of these exchange may be just the thing that takes the heat out of Bitcoin - or the opposite.
Depends on your point of view. Is BTC speculation or something with actual utility?
The rise to $280 is funny. The psychology of "gosh, Bitcoin looks good - it has rebounded strong." Look at Belly Busters post. It is behaving exactly as a speculative bubble should thus answering the above question.
Quote:
Originally Posted by Sanlmar
The Winklevoss brothers' coming exchange (again, regulated) does look interesting. Here's some more depth of their plans...
http://www.theverge.com/2015/1/23/78...tcoin-exchange
Basically have the unbeatable security and make Bitcoins FDIC insured (why not, they're regulated!!!)
And yeah, that Bellybuster chart is so spot on...
Unbeatable security. I remember a facepalm when I saw the resume of the lead security programmer. Last from the fashion industry or some unremarkable biz.
They are writing their exchange engine from scratch. Hmmm.
These two have been dicking around for years trying to get something online. Just a little late boys.
url?Quote:
Originally Posted by Sanlmar
also 'unbeatable security' is basically a bullseye at this point.
No url. I buy paper copy couple times a week and those pricks want a subscription for their articles. It was definitely Friday if you to find a way into that article.Quote:
Originally Posted by sonatineurl?Quote:
Originally Posted by Sanlmar
I am betting you hack in.
They got the wrong types of bars in jail.Quote:
Originally Posted by Sanlmar
Honestly at this point I have no idea what this means but Id expect one could turn a tidy profit by riding this publicity up a few ticks before dumping.
Virtual currency bitcoin is starting to get its act together. A startup funded with $106 million from the New York Stock Exchange as well as banks and venture capital firms, is set to launch the first licensed US bitcoin exchange. Coinbase reckons it'll add increased security to traders as well as monitor real-time pricing of the world's foremost cryptocurrency. If you've forgotten, unlike normal currencies, bitcoin is traded virtually and isn't backed by a central government: reasons why the currency often fluctuates severely. The collapse of Mt. Gox last year stung investors, both professional and otherwise, for a total sum of around half a billion dollars. As the WSJ notes, the value of a bitcoin is currently around $240: it was stood at $1,200 per 'coin.
The startup's founders have managed to gain licenses from half of the states' financial regulators, including (importantly) both New York and California. The exchange can only do business in the states in which it's gained approval, taking 0.25 percent from most transactions, with the first two months charge-free. The exchange already has 2.2 million "wallets" on file, and plans to operate in 30 countries by the end of the year - it's already set up in 19 of them.
Meanwhile, Gemini (backed by the Winklevoss twins), has claimed support from an as-yet unnamed New York bank. The legitimacy of Bitcoin is on the increase, but for those of you hoping that the value of Bitcoins will evaporate into nothing and you'll never have to read about them again -- well, it's not looking good.
Looks like it corrected itself back down to the 230s.
So once again, Bitcoin fails to stabilize at a level higher than it was prior to a decline.
Or, simply put, it has been steadily declining since May 2014.
Yeah I hate that I missed that bounce. Most of all because I dont know how many are left.
I noticed that IG now takes spread bets on bitcoin price with a $0.03 spread.
Pretty shrewd move because it allows you to easily take a short position as well as a long position. Also you don't have to fag about with the pesky coins themselves.
Sanlmar what's your thoughts on this.
Buying physical coins is not the way to trade. You are correct.Quote:
Originally Posted by Belly Buster
IG is the parent of Nadex. Yanks are excluded from IG and are led to Nadex.
I gambled Bitcoin using binaries on Nadex. Your losses cannot exceed investment. Frankly, I lost interest in trading Bitcoin. For me, trading this thing short term has been impossible for me to read. On the flip side the swings are insane and with a little margin you could be partying with Prince William in no time.
IG is famous for CFD's - contract for difference. You get to play with margin and obv risk is greater (reward is greater too Obv). CFD's are unique compared to Forex as they never expire.
I understand CFD's have some tax advantage for you blokes. I don't know why. Just what I hear.
I don't know your experience trading commodities. If you like puzzles and getting immersed in something new that will forever after give you insight into trading - I urge you to setup a demo account (play money) and experiment with binaries as they are pretty simple.
I urge you to learn a little candlestick charting. Japanese Candlestick Charting Techniques by Steve Nison. I don't have a read on belly Buster's nerd index but I found the whole business absolutely fascinating. I think there is Candlestick Charting for Dummies - prolly a lot of other stuff has come out since I started.
Curious your level of interest and just how big a wonk you are for learning stuff like this?
Bottom line = IG demo account!!!!
Bitcoin took a $10 haircut $225-->> $215 on big sales last half hour.
It was slammed to $210 and snapped back to $215
Whassup? Preet, is that you?
http://i.imgur.com/A9IQy8T.gifQuote:
Originally Posted by Pooh
http://www.cnet.com/search/?query=scam
ZMG IF U USE THE INTERNET U ARE IN DANGER!
The opportunity that Bitcoins offer some type of people is unique and valuable to them. It's here to stay just like the internet and Pokerstars.
Google exploring integrating Bitcoin into GooglePay. Guess this came out last Thurs.
Project called Plaso. Some tie in with Square. Bluetooth vs NFC.
I don't know what to think but I like this price action and if I can go long around $241-$242 I will take a shot.
Edit: well I got my wish $241.45 It's got every chance to succeed in a weekly time frame.
Well, that didn't work out.
U.S. Marshals to auction off 50,000 bitcoins forfeited by Silk Road founder - Reuters
$11,000,000
Feds will be competing for buyers with all the stolen coins recently. The list of hacked exchanges just isn't news anymore.
Probably sink below $220
What a mess.
Edit: auction March 5th 08:00-14:00 preregistered bidders only vs open mkt
im seeing a lot of sorta kinda legit but not entirely epay systems like that make overtures towards accepting btc, and i suspect the primary motivation behind it is wanting to rope in people looking to cash out of the btc market. eg its a million times easier to get people to fund their wallets by cashing out their bitcoins into them than it would be to get people to deposit cash.Quote:
Originally Posted by Sanlmar
Anyone feel like trading some Amazon cash for bitcoin? Like $100 worth
Or a transfer on carbon?
Interesting notion 'tine.Quote:
Originally Posted by sonatine
Can this possibly be accurate? The source for this data is US Federal Reserve so it's accuracy is suspect in my mind.
The chart was offered to illustrate how nobody actually spends Bitcoins. Utility is a farce.
Bitcoin Crime Wave Breaks Out in NYC
NYC firefighter kidnapped, robbed and stabbed by crypto thieves
By Jack Smith IV | 02/20/15 9:54am
Bitcoin, the technology that’s meant to revolutionize the way we think of money, is simultaneously revolutionizing the way we get mugged.
A New York City firefighter named Dwayne Richards was recently held up, stabbed and robbed by thieves who were after his bitcoin, the Observer has learned. From what we’ve discovered, Mr. Richards, who is a firefighter in lower Manhattan, was mugged and left bleeding after meeting the robbers under the pretense of exchanging bitcoin for cash in Williamsburg, Brooklyn. He’s alive, well, and refusing comment.
Typically, when we hear of bitcoin-related crimes, it’s a white-collar affair—millions of dollars going missing from an overseas exchange, or a plucky enthusiast finding himself in an international money-laundering scheme.
But robbing someone of his bitcoin in person can be an astonishingly effective way to make off with vast sums of capital quickly and untraceably. And Mr. Richards is far from the first to fall victim to bitcoin-related brutality.
Stagecoach robberies
Dean Katz is a one-man bitcoin exchange. Every day, he drives around New York buying and selling bitcoin, on call to a large customer base. He’s like a weed delivery guy, only instead of delivering drugs, he’s bringing people the future of financial transactions.
One day, he received a call from someone who had heard about his services, either online or through a referral, who wanted to visit him out in Queens at a secure location.
“He called because he wanted to gamble during the Super Bowl, which is pretty common,” Mr. Katz told the Observer.
When the person arrived, he held Mr. Katz up at gunpoint and forced him to transfer $8,500 worth of bitcoin. Then, the robber took $3,500 in cash and split.
‘Right now, it’s like the Wild West,’ Mr. Katz said, ‘and stagecoach robberies are going to happen.’
Mr. Katz reported the incident to the police, and he’s heard from a number of people also who trade bitcoin in person that there have been other incidents. Some of the occurrences have been physical robberies, others have just involved the use of counterfeit money—which as a hustling entrepreneur, Mr. Katz considers just as offensive.
Bitcoin may be a digital currency, but trading it in person is still one of the fastest and most reliable ways to exchange it. Signing on and having your account verified with an exchange can take weeks, and if you’re new to using cryptocurrencies, it’s helpful to have someone knowledgeable over your shoulder to walk you through the process.
Also, having someone with you in person is, ironically, a safer way to transact. It allows you to monitor the transaction and adds a layer of trust. Again, bitcoin is so new to so many people, there are plenty of creative ways to defraud people online. It accounts for why LocalBitcoins, a platform for finding people to do business with in your area, is one of the largest trading platforms in the world.
But if the person you’re dealing with turns on you, you’ll find all of the benefits of bitcoin turning on you, too.
The Wild West
The best thing about bitcoin is that you can move vast sums of money nearly instantly without needing to go through a bank or centralized, governing body for approval or monitoring. But one thing banks are good at is dealing with thieves.
If someone held you up at gunpoint and made you wire your money from a bank account, a bank would be able to see the receiving account and, in most cases, link it to the person who goes to collect from that account. Bitcoin isn’t exactly anonymous, per se, but a thief who is smart and careful enough can make it nearly impossible to be linked to an account once he’s received his payload.
New York State is currently working on controversial legislation to legitimize and regulate bitcoin without totally clipping its wings as a revolutionary tool. Mr. Katz says that he hopes there will eventually be physical, centralized exchanges and centers where bitcoin can be traded in safe, public forums. Until then, he simply has to watch his back.
“Right now, it’s like the Wild West,” Mr. Katz said, “and stagecoach robberies are going to happen.”
Days after Micon lands in Antigua...
COINCIDENCE?
JFC really?
Driving round NYC trading anything from your car while carrying thousands of dollars of cash/goods. What could possibly go wrong?
Winklevoss twins believe bitcoin will ‘wipe out’ cash
http://nypost.com/2015/03/17/winklev...ash-in-future/
WOW!!!, the Winklevoss twins are as clueless about Bitcoin as Bryan Micon.Quote:
AUSTIN, Texas — The Winklevoss twins predicted a “cashless society” by 2025 as they continued their push to popularize the troubled virtual currency bitcoin.
The square-jawed Harvard grads — most famous for their legal battle with former classmate Mark Zuckerberg over the ownership of Facebook — said bitcoin is destined to wipe out the use of cash, credit cards and other fee-based money-transfer services like PayPal.
“Cash is going to be killed,” Tyler Winklevoss told a crowd Monday at SXSW Interactive, the annual tech conference. “It will be nostalgia … You’ll tell your grandkids about the wallet, it was this thing made of leather.”
Cameron Winklevoss chimed in, saying he wasn’t even carrying his wallet at the moment.
“I didn’t want to sit on it for an hour,” he said. “It would hurt my butt.”
Bitcoin has had a bumpy ride over the past year amid hacking scandals and last year’s collapse of Mt. Gox, a Japan-based exchange.
“Personally, we’re not really worried. We’ve not sold a single bitcoin,” Cameron Winklevoss said. “It’s behaving like a technology company. It’s had its ups and downs.”
The duo hope to gain regulatory approval in 2015 for Gemini, a bitcoin exchange, and a bitcoin exchange-traded fund.
Bitcoin is going to collapse as an alternative currency because it's almost impossible to mine and people don't trust it.
http://calvinayre.com/wp-content/upl...se-raided1.jpg
Evolution dark net drug market just shuttered itself, admins capered off with $12m in btc.
Guys Im hearing a lot of weird rumors that btc-e.com is folding. Like right now. Like no monies for anyone gg folding.
"fool me once, shame on - shame on you. Fool me - you can't get fooled again."Quote:
Originally Posted by sonatine
Quote:
Originally Posted by zealanddonk"fool me once, shame on - shame on you. Fool me - you can't get fooled again."Quote:
Originally Posted by sonatine
i mean seriously, granted, especially because everyone said from the beginning that btc-e looked acted and smelled like a eastern euro crime gang front, but they also were/are a huuuge player in the bitcoin exchange game.. so if its true, wow..
I wouldnt call the Winklevii clueless....I would call them promoters.
They have a lot invested in the success of bitcoins, so it makes sense that they would be out publicly slinging the shit to get people motivated to use it.
so, the btc-e panic made the front page of reddit, causing a panic across all the exchanges.
:popcorn
dead man walking:
A man long suspected as one of biggest thieves in Dark Net history is finally sitting in jail after trying to launder the millions of dollars he took during a monumental heist, according to Czech media.
The theft happened in the chaos that followed the arrest of Silk Road owner Ross Ulbricht. Thousands of black market customers moved to a relatively new anonymous website for illicit products, called Sheep Marketplace. But within weeks, that site was gone, as was customer’s money. Its owner was suspected of stealing upwards of tens of millions of dollars, as Bitcoin's value skyrocketed in Dec. 2014.
It took only a couple of hours before the Internet identified a suspect: Thomas Jiřikovský. In a flurry, his Facebook page and real life address were exposed to the world. Jiřikovský denied being involved immediately.
But now, Jiřikovský is behind bars after attempting to buy a luxury home in Lusatia, a region in the Czech Republic, under his grandfather’s name.
Police described his funds to make the purchase as the “proceeds of crime.” Unable to credibly explain the origin of the millions of dollars he used to buy the villa, the police made the connection between Sheep Marketplace and Jiřikovský quickly. Czech financial police launched an investigation into Jiřikovský's money and found that house had been paid for entirely in Bitcoins.
Police are not divulging the full details of their findings as yet.
As Jiřikovský sits in jail, many are wondering if the same fate awaits other Dark Net thieves. Just two weeks ago, millions of dollars were stolen from Evolution, one of the largest online black markets to date.
There's reason to be skeptical, however. Jiřikovský's name was outed within hours of the fall of Sheep Marketplace. No such event has taken place since Evolution's closing.
Additionally, Evolution was founded and run by professional credit card frauds who have made a living for years laundering money. They're likely much more adept at surreptitiously moving stolen cash.
Still, Jiřikovský's arrest shows that laundering millions in Bitcoins is not easy. Stealing Bitcoins on the Dark Net isn't much of a challenge. Turning the digital currency into real world cash, though, is an entirely different question.
2 former federal agents charged with stealing Bitcoin during Silk Road probe
http://www.cnn.com/2015/03/30/politi...oin/index.html
Cliffs:
-Agent Carl Force extorted $100k from Ulbricht (silkroad). Used a series of bitcoin transfers, wires to launder money
-Force also used his position as an executive at a digital currency exchange called CoinMKT, in which he was an investor, to seize accounts of customers. He transferred $297,000 in illegally-seized digital currency to his personal accounts
-Agent Shaun Bridges stole $820,000 of bitcoin that had been stolen from Silk Road. Used a series of wire transfers to take the money that had been stolen from Silk Road and deposited to Mt Gox.