Bitcoins are officially donkdown

So there is something going down with Cryptsy, whom is a huge exchange, more so post-Gox.

Apparently a lot of savvy cryptocoin traders are saying that a tipping point has been reached regarding circumstantial evidence pointing a finger at deliberate market manipulation there.

The real damning stuff is that apparently whenever the dogecoin market starts to rally, like every single time, HUGE phantom buy orders end up on the stack. Now that may seem like it can be explained away pretty easily but here is the thing; they never get filled. Ever. With the predictable result being the rally ending and prices staying depressed.

This isnt a one time thing, its an established pattern with every strong upturn in the dogecoin market.

Reddit is going fucking nuts over it at the moment. Its definitely not just some lunatic fringe conspiracy theory at this point. People with pretty huge portfolios are taking it extremely seriously and migrating everything they have off Cryptsy, who has responded by dragging their feet on all transfer orders and occasionally crashing completely.

Could be another huge exchange is about to go tits up.

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Originally Posted by sonatine

So there is something going down with Cryptsy, whom is a huge exchange, more so post-Gox.

Apparently a lot of savvy cryptocoin traders are saying that a tipping point has been reached regarding circumstantial evidence pointing a finger at deliberate market manipulation there.

The real damning stuff is that apparently whenever the dogecoin market starts to rally, like every single time, HUGE phantom buy orders end up on the stack. Now that may seem like it can be explained away pretty easily but here is the thing; they never get filled. Ever. With the predictable result being the rally ending and prices staying depressed.

This isnt a one time thing, its an established pattern with every strong upturn in the dogecoin market.

Reddit is going fucking nuts over it at the moment. Its definitely not just some lunatic fringe conspiracy theory at this point. People with pretty huge portfolios are taking it extremely seriously and migrating everything they have off Cryptsy, who has responded by dragging their feet on all transfer orders and occasionally crashing completely.

Could be another huge exchange is about to go tits up.

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I don't have the time to reread this whole thread to see if it has been brought up, but this whole situation is like offshore poker.

You have companies making huge money with little regulation. And to someone naive (like me who was scammed 2x here), I can't fathom why a poker site or bitcoin exchange would even dream of siphoning additional funds. Or why wouldn't they invest the time/effort into having top notch security/constant audits to make sure everything is in order?

Answer: greed. Pure greed.

And in the end they have enough money for the best lawyers, and can pay for a get out of jail card since it's all shady to begin with.

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Originally Posted by simpdog

Quote:

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Originally Posted by sonatine

So there is something going down with Cryptsy, whom is a huge exchange, more so post-Gox.

Apparently a lot of savvy cryptocoin traders are saying that a tipping point has been reached regarding circumstantial evidence pointing a finger at deliberate market manipulation there.

The real damning stuff is that apparently whenever the dogecoin market starts to rally, like every single time, HUGE phantom buy orders end up on the stack. Now that may seem like it can be explained away pretty easily but here is the thing; they never get filled. Ever. With the predictable result being the rally ending and prices staying depressed.

This isnt a one time thing, its an established pattern with every strong upturn in the dogecoin market.

Reddit is going fucking nuts over it at the moment. Its definitely not just some lunatic fringe conspiracy theory at this point. People with pretty huge portfolios are taking it extremely seriously and migrating everything they have off Cryptsy, who has responded by dragging their feet on all transfer orders and occasionally crashing completely.

Could be another huge exchange is about to go tits up.

---

I don't have the time to reread this whole thread to see if it has been brought up, but this whole situation is like offshore poker.

You have companies making huge money with little regulation. And to someone naive (like me who was scammed 2x here), I can't fathom why a poker site or bitcoin exchange would even dream of siphoning additional funds. Or why wouldn't they invest the time/effort into having top notch security/constant audits to make sure everything is in order?

Answer: greed. Pure greed.

And in the end they have enough money for the best lawyers, and can pay for a get out of jail card since it's all shady to begin with.

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The big difference, and its really not that big, is that poker players are predatory dirtbags. All of them. Every. Single. One. So to watch them congeal at websites with the sole intent of defrauding each other only to be defrauded by the sites themselves was organic and hilarious.

Crypto currencies are a little different; they were spawned from a childish, naive, anarchy-by-way-of-libertarianism cabal that wanted to build an organic alternate currency that was beyond the reach of the world banking system (jews) and in doing so, somehow insulate their wealth and resources from the highly unpredictable global markets that tie into it, and a big part of that insulation was predicated on the assumption of anonymity.

And because they did a great job of the math/infrastructure, the biggest early adopters by light years were bored rich faggots and european crime gangs.

And thats where things got complicated.

The only people building out the infrastructure (exchanges) were basically autists and euro criminals. The former totally lacked the business sense to deal with liability or volume of money sliding through their hands, and the latter (BTC-E for example) realized they could make more money by setting up shop and just saying fuck it and raking it in on the square by syphoning off transaction fees.

However, the rich faggots wanted a piece of the pie as well. So they started engaging in various shades of market manipulation. Some of them even set up Shady Exchanges, and thats what we are seeing right now. Sites like Cryptsy engaging in obvious market manipulation because Why Not? Whose got jurisdiction over them, exactly? There is no oversite. So all these wanna be wolves of wall street are taking their hedge experience into the crypto market and playing God in ways that would earn them 40+ year sentences in the real world.

So yeah on the surface its a lot like the poker faggot boom, but really its a completely different current, with very little crossover because everyone involved in poker on any level has a pretty limited IQ, or they would have stopped playing long ago and graduated to real finance/hedge management.

Security researchers at Securelist have found that the data “stolen” from Mark Karpeles’ computer actually contained a BTC-stealing Trojan that masqueraded as a back-end app for managing Mt.Gox trades. The app searched user directories for Bitcoin-related files – wallet.dat and bitcoin.conf – and uploaded them to a server that is now defunct.

The app apparently ran on OS X and Windows.

The files appeared after Mark Karpeles’ website was hacked by unknown assailants. The documents contained mostly public information regarding Mt.Gox and the aforementioned payload.

Writes Kaspersky’s Sergey Lozhkin:

The malware creates and executes the TibanneSocket.exe binary and searches for the files bitcoin.conf and wallet.dat – the latter is a critical data file for a Bitcoin crypto-currency user: if it is kept unencrypted and is stolen, cybercriminals will gain access to all Bitcoins the user has in his possession for that specific account.

In short, delete that payload if you’ve downloaded it.









....i cant even

Saw this a while ago. Left me thinking Karpeles was hacking his own site. His ambivalent attitude toward the hacks and security was suspicious or he was just another donut eating autistic savant.

Loved the Cafe story.

The Inside Story of Mt. Gox, Bitcoin’s $460 Million Disaster

http://www.wired.com/wiredenterprise...coin-exchange/

"The Aspergers Posse" .... If I had to pay you a dogecoin every time I thought of that line.

COINEX.PW EXCHANGE HACKED
Howard | March 18, 2014 | Doge News | 1 Comment
It’s been a rough month for cryptocurrencies. News of another exchange hack was released yesterday when the popular exchange Coinex.pw mysteriously went down on the 16th. A tweet was issued shortly after from their official Twitter account stating “Security issues, investigating”. Shortly after the tweet, the administrator deleted his personal Twitter account and GitHub account. With no official word from the administrator, many were speculating that the administrator planned on shutting his doors and running.

Fortunately, erundook addressed the community’s concerns by issuing a public statement on the BitcoinTalk forums. The administrator was able to confirm that the wallets were hacked and all the funds were stolen. Unfortunately, this isn’t the first time CoinEx has been hacked. He mentions the exchange has experienced problems in the past and the losses were covered from the administrator’s own pocket. According to the post, he plans to do this again.

CoinEx was one of the more popular Dogecoin exchanges. As a result, some fellow Shibes have incurred losses and are feeling the effects of the tragic hacking. The details of the hack are still unclear.

The most frustrating part of this hack is how easily it could have been prevented by making use of multi-signature transactions. There is absolutely no reason users of the exchange should have to 100% entrust their funds with anyone but themselves. My condolences to those who lost a significant amount of money due to this hack. Fortunately, it seems like the administrator intends on replacing the stolen funds. For the love of god, please stop warehousing your coins in exchanges


http://i.imgur.com/zuaOWAV.gif

I don't think Karpeles was behind that hack Sonatine. He already has his $500 million.

Leaked internal anecdotes regarding his apathy toward Gox hacks and the retarded software revision process (all revisions had to reviewed & approved by Karpeles) combine to produce the unpleasant aroma of an unwashed Frenchman who modelled himself as the 'French Mark Zuckerberg.

News of a leaked conversation between a Mizuho Bank representative and Mark Karpeles, suggests that the banker asked Karpeles to close his account in the upcoming future. Perhaps the bank knows too much about the case.

The suits claim that there is some proof to suggest that Bitcoins from Mt Gox were transferred to new accounts and to those of the top brass. Arstechnica reports that 180,000 Bitcoins worth about $113 million dollars were moved through “Block Chain” and were eventually going to be mixed into other smaller accounts to avoid detection.

Repeated worldwide Bitcoin hacks were the perfect cover for the nerd who wrote the code and thought he was the smartest guy in the room.

Waiting for the Newsweek cover that will expose this brilliant larceny.

WSJ reporting that MtGox has located 200,000 BTC in a wallet they had no longer been using.

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Originally Posted by DJ_Chaps

WSJ reporting that MtGox has located 200,000 BTC in a wallet they had no longer been using.

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Karpeles has no stones.

So we can expect a bit of selling soon?

We'll have something to talk about if it drills $550

I keep forgetting that Newsweek's Dorian Satoshi Nakamoto is free to sell his $400 million in Bitcoins.

Newsweek:
What has kept him from spending his hundreds of millions of dollars of Bitcoin...

Nakamoto is as concerned about maintaining his anonymity ...

drivel & nonsense....

That's a lot of selling.

Dropping faster than Aroldis Chapman.

Makes some crazy capit move below $550 and you scoop for a bounce. Just a dream, but stay thirsty my friends.

Quote:

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Originally Posted by DJ_Chaps

WSJ reporting that MtGox has located 200,000 BTC in a wallet they had no longer been using.

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http://cdn.uproxx.com/wp-content/upl...e-laughing.gif

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Originally Posted by Sanlmar

Dropping faster than Aroldis Chapman.

Makes some crazy capit move below $550 and you scoop for a bounce. Just a dream, but stay thirsty my friends.

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Don't despair
We almost got there
Karpeles gotta raise cash
Jam it, mon frere

Could use some help determine the trend here.

Thx

If that were a stock, id be waiting to see how it acts in that 520 area. Wish I could naked short these with an empty account rofl.

and another one going down for the count.

http://www.cryptocoinsnews.com/2014/...d-withdrawals/

Does anyone know, has Micon made good fortune from bitcoins? I remember him pushing it quit a bit on the former radio show?

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Originally Posted by ActionDave

and another one going down for the count.

http://www.cryptocoinsnews.com/2014/...d-withdrawals/

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jesus christ.

Hard to find any reason to buy here. No one went bargain shopping. Where does it have to settle to before it looks like a trade again?

A False Report About A Chinese Bitcoin Ban Sent Prices Tanking
March 21 1:12pm
http://www.businessinsider.com/false...ce-drop-2014-3

An erroneous report about China banning Bitcoin caused prices to tank this morning, according to Coindesk's Pete Rizzo.

The report, published on mega Chinese social network Sina Weibo but since retracted, indicated the People's Bank of China had set a deadline of April 15 for all firms to halt Bitcoin trades.

The PBOC later stated its ruling from Dec. 5 prohibiting financial institutions from dealing in the digital currency was still in place.

The incident illustrates that information about Bitcoin, whether true or false, can still pretty much drop out of the sky and instantly up-end markets.

The first Bitcoin derivative is about to come into being.

https://news.fidelity.com/news/news....sting.RT&IMG=Y

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TeraExchange said on Monday it had constructed a swap based on the bitcoin virtual currency, a step that would bring the emerging payment system under the oversight of U.S. regulators for the first time.

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Sort of defeats the purpose doesn't it?