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brg444 Offline
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Post: #1226
RE: Bitcoins up 60% in less than a month
(02-16-2014 06:09 PM)Maciano Wrote:  
(02-16-2014 05:24 PM)JayJuanGee Wrote:  [quote='brg444' pid='655796' dateline='1392588483'

I wanna buy these goxcoins. I do not believe for a second that Gox is insolvent and I expect them to allow BTC withdrawal again at one point.

They're just ran by a gang of incompetent people who are in way over their head.

I don't understand what makes you think Gox will collapse once they allow withdrawal

1) You can buy goxbtc here: https://www.bitcoinbuilder.com/

I haven't used it, don't know the owner, so be careful. It's just a link I found somewhere.

2) I think Gox will collapse bc as soon as they reinstall withdrawal most users will take their coins off the exchange, making them irrelevant.

I also think prices will swing up after the Gox-stuff goes away.

yea I am aware of the bitcoinbuilder website which by the way I believe is legit.

Unfortunately they charge around 70% of BTC value when Gox is actually below 50 %
02-16-2014 07:20 PM
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JayJuanGee Offline
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Post: #1227
RE: Bitcoins up 60% in less than a month
(02-16-2014 04:37 PM)JayJuanGee Wrote:  
(02-16-2014 08:45 AM)el mechanico Wrote:  Can anyone explain what would make GOX customers sell at such low prices? If they can't take money out while they are waiting why not keep the price high?

I agree that it is a crazy phenomenon b/c Mt Gox customers tend to be selling at a much lower price than the market rate.... and NO matter if their money is in BTC or in Fiat, they have the same liquidity problem (b/c Mt. Gox seems to NOT be allowing withdrawals in either).

Thus, the Mt. Gox sell phenomena seems to be driven by pure panic and loss of confidence in the BTC maintaining its value by the time customers are permitted to make withdrawals from Mt. Gox..

Accordingly, they want to be in fiat rather than BTC... b/c they have lost too much confidence in BTC... b/c of Mt. Gox's shenanigans and in spite of what other exchange prices are telling them about BTC prices being greater than what they can get on Mt. Gox.

As I type, price per BTC is:
Bitstamp= $606.00
BTC-e = $578.61
Mt. Gox =$243.60


I would like to supplement my earlier above response with the below Reddit link.

http://www.reddit.com/r/Bitcoin/comments...g_for_240/


The linked information seemed to have been attempting to answer El Mech's question (as if they are reading RVF, what the fuck?...Smile Smile ), and the one additional idea contained within that thread (besides the responses that I made in my earlier above post) is that some Mt. Gox customers may be selling on GOX b/c they are engaged in BTC trading and attempting to make money to get cash and then to buy BTC again at hopefully a lower price... Of course with any BTC trading these days, they may bet wrong, have poor timing and end up holding more fiat than expected and with less BTC than expected rather than with more.
(This post was last modified: 02-16-2014 08:57 PM by JayJuanGee.)
02-16-2014 08:30 PM
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JayJuanGee Offline
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Post: #1228
RE: Bitcoins up 60% in less than a month
Actually, I would like to report some information about my personal BTC holdings and my fucked up attempts (earlier today) at BTC trading... that ended up working out in my favor....... but only b/c I got lucky.

I should have learned by now... but anyhow, the beeping of my computer woke me up at about 5am with multiple trades on fiatleak... so I get up and I look at BTC prieces falling from $630 to $590 and seems to be still going down based on my perusal at various news clips reporting that GOX was insolvent or some other sporadic rumors that seemed to be driving the BTC price falls.. I lock in a fairly sizable sell of 14 BTC at $595.. .then the price shot back up to $620... I am so tired and pissed at myself, and I do NOT know what to do.. b/c the BTC price may shoot back up to $700 or something ridiculous like that, then I will be truly screwed... I decided to set multiple sell orders and go back to sleep and hope for the best.

Accordingly, I set four sell orders in increments at $591, 586, 568 and 548, and I went back to sleep. Again at about 9:30am - ish, I was woken up to multiple pings on my computer, and I went to take a look and 3 out of 4 of my sell orders had gone through.. and I manually made another sell order for most of the remaining dollars at $579 per BTC.

I am thinking that I got lucky to NOT lose, and I gained about .2BTC out of the stressful situation. I am NOT sure if I learned a lesson besides the fact that I am pretty amateur when it comes to BTC trading and I should NOT be making decisions like that on a spur when the computer is waking me up. And, maybe I should NOT allow it to wake me up, b/c probably it is NOT good for my health.

On the other hand, I learned that adding .2BTC to my total BTC portfolio without any dollar costs brought my average BTC buy price down by quite a bit - from $750 to $744 (my total BTC holdings went from approximately 27.1 BTC to 27.3 BTC)... and it makes it very tempting for me to want to engage in future BTC trades.. but so frequently, I am afraid that I am going to bet wrong.. and if I do bet, I have to bet with smaller amounts of BTC b/c it was way too stressful for me to have the proceeds of 14BTC hanging in limbo (in fiat) and without a real plan for how to recoup in the event that BTC prices were to shoot back up beyond my sell price.
02-16-2014 09:07 PM
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el mechanico Offline
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Post: #1229
RE: Bitcoins up 60% in less than a month
Trollbox is good tonight log on!
02-16-2014 09:09 PM
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JayJuanGee Offline
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Post: #1230
RE: Bitcoins up 60% in less than a month
(02-16-2014 09:09 PM)el mechanico Wrote:  Trollbox is good tonight log on!

Actually El Mech... I had been finding the trollbox to be fairly useful in recent days... ... and I know earlier I had poo poo'd the troll box... but if you can sort through some of the garbage, there can be some great and late breaking news...

For example, the other day, I was chatting with this BTC-e "troll" and we were chatting about the future of BTC prices. He made some prediction about South Africa, and I said what the fuck you talking about... and he pointed me to "old news" from three days ago... about the largest bank in south africa taking on a BTC pilot program... Here's a link:

http://www.coindesk.com/evolution-bitcoi...ing-house/

Well anyhow, that is pretty big news for BTC b/c i read somewhere that the bank has nearly $300 Billion in assets and more than $10 billion in gross annual revenue.. or something like that... and initially I found it out from the BTC-e troll box.
02-16-2014 09:29 PM
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phoenix101 Offline
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Post: #1231
RE: Bitcoins up 60% in less than a month
(02-16-2014 03:02 PM)The Texas Prophet Wrote:  ...my guess is that people think Gox doesn't have the coins to pay people out, so they are cashing to fiat and hoping to sue Gox to get at least some of their investment back.

Jordan

Good luck to those people. I doubt any court would technically consider it an investment in the first place.
(This post was last modified: 02-16-2014 10:08 PM by phoenix101.)
02-16-2014 10:05 PM
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brg444 Offline
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Post: #1232
RE: Bitcoins up 60% in less than a month
(02-16-2014 09:29 PM)JayJuanGee Wrote:  
(02-16-2014 09:09 PM)el mechanico Wrote:  Trollbox is good tonight log on!

Actually El Mech... I had been finding the trollbox to be fairly useful in recent days... ... and I know earlier I had poo poo'd the troll box... but if you can sort through some of the garbage, there can be some great and late breaking news...

For example, the other day, I was chatting with this BTC-e "troll" and we were chatting about the future of BTC prices. He made some prediction about South Africa, and I said what the fuck you talking about... and he pointed me to "old news" from three days ago... about the largest bank in south africa taking on a BTC pilot program... Here's a link:

http://www.coindesk.com/evolution-bitcoi...ing-house/

Well anyhow, that is pretty big news for BTC b/c i read somewhere that the bank has nearly $300 Billion in assets and more than $10 billion in gross annual revenue.. or something like that... and initially I found it out from the BTC-e troll box.

I should point out that this "pilot" was thrown to the bushes a couple of days after in a rather curious statement by the company.

My sentiment is this was not supposed to come out and the bank had no choice but to retract their stance and deny future consideration of a Bitcoin related service
02-16-2014 10:10 PM
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el mechanico Offline
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Post: #1233
RE: Bitcoins up 60% in less than a month
My brain is set up for fast. I can't read some of the longwinded posts here but can take from that box for some reason.
02-16-2014 10:13 PM
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JayJuanGee Offline
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Post: #1234
RE: Bitcoins up 60% in less than a month
(02-16-2014 10:13 PM)el mechanico Wrote:  My brain is set up for fast. I can't read some of the longwinded posts here but can take from that box for some reason.



That's called ADD.... NO hating...
02-16-2014 10:25 PM
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el mechanico Offline
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Post: #1235
RE: Bitcoins up 60% in less than a month
(02-16-2014 10:25 PM)JayJuanGee Wrote:  
(02-16-2014 10:13 PM)el mechanico Wrote:  My brain is set up for fast. I can't read some of the longwinded posts here but can take from that box for some reason.



That's called ADD.... NO hating...
It's good but I have two six year old girls all weekend making loom braclets with me, feeding them, going to my shop helping my guys and a host of other things Jay. I only get short spurts in my life everything else comes on the fly.
(This post was last modified: 02-16-2014 10:35 PM by el mechanico.)
02-16-2014 10:34 PM
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JayJuanGee Offline
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Post: #1236
RE: Bitcoins up 60% in less than a month
(02-16-2014 10:34 PM)el mechanico Wrote:  
(02-16-2014 10:25 PM)JayJuanGee Wrote:  
(02-16-2014 10:13 PM)el mechanico Wrote:  My brain is set up for fast. I can't read some of the longwinded posts here but can take from that box for some reason.



That's called ADD.... NO hating...
It's good but I have two six year old girls all weekend making loom braclets with me, feeding them, going to my shop helping my guys and a host of other things Jay. I only get short spurts in my life everything else comes on the fly.

Fair enough.. El Mech... I get what you are saying with the juggling of tasks, and so we each have our own tolerances and ways to use information and activities in our daily lives.

I find the BTC-e troll box good for getting some quick insight about movement of BTC or some other crypto at the moment... but probably NOT going to get in depth information from there - especially about the long term of BTC... and maybe even get lured into a short-term trading mistake. But surely the BTC-e troll box can serve a purpose.. that fits some people and some uses better than others.

Actually, in my mind, there remains some importance to accountability and being able to trace past posts that we get here in RVF and this thread. Even though RVF members are largely anonymous, there is going to be more accountability in the RVF posted information than with BTC-e troll box - just take for example, my above post 1230 about the south africa bank, brg444's 1232 post put my 3 days old out of date information into perspective..... and gave my posted information much less importance than what I had attributed to the information...

I believe those kinds of checks, corrections and supplementations are healthy and good for the BTC or crypto currency related information that we are discussing in this thread, and it is very difficult to get that kind of depth from the BTC-e troll box... and the posted information in BTC-e troll box disappears (within 5 to 30 minutes, depending on activity levels - or even a crash of BTC-e). If I go grab a bite to eat or take a piss, I may miss some important post in the BTC-e troll box, including someone responding to one of my earlier posts... I suppose that could happen in RVF, as well... I go take a piss, and then come back and I am banned for life.... hehehe... Bans in the BTC-e troll box are frequently temporary.. I've never been banned from BTC-e troll box, yet.. . Smile.
(This post was last modified: 02-17-2014 12:08 AM by JayJuanGee.)
02-17-2014 12:07 AM
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el mechanico Offline
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Post: #1237
RE: Bitcoins up 60% in less than a month
I see a huge pump in the future on Gox's end which will cause everyone else to panic pump. I'm all in BTC and will sleep with my sell orders close to the moon.

Of course I have no links or data to back my statement.
02-17-2014 11:36 AM
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Satoshi Offline
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Post: #1238
RE: Bitcoins up 60% in less than a month
JJG maybe this thread on bitcointalk forum is better to follow: https://bitcointalk.org/index.php?topic=178336.0
I been following it before, especally during bubbles, but I'm not doing it anymore.

Mtgox get's hated much more than they should. They have made a lot for bitcoin, being the first exchange to open, of course they will have some problems.
02-17-2014 12:42 PM
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JayJuanGee Offline
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Post: #1239
RE: Bitcoins up 60% in less than a month
(02-17-2014 12:42 PM)friheten Wrote:  JJG maybe this thread on bitcointalk forum is better to follow: https://bitcointalk.org/index.php?topic=178336.0
I been following it before, especally during bubbles, but I'm not doing it anymore.

Mtgox get's hated much more than they should. They have made a lot for bitcoin, being the first exchange to open, of course they will have some problems.

Thanks Friheten.. I will look at that website... I glanced at it quickly, and it looks like there is a lot of in-depth and timely information therein. There are over 4800 pages since April 2013... and makes RVF look too short... he he he...



(02-17-2014 11:36 AM)el mechanico Wrote:  I see a huge pump in the future on Gox's end which will cause everyone else to panic pump. I'm all in BTC and will sleep with my sell orders close to the moon.

Of course I have no links or data to back my statement.

I cannot see BTC prices getting much higher than $750 or possibly up to $800 in the next couple of weeks... dont get me wrong.. I am bullish on BTC... ...but the next couple of weeks are NOT looking so good in my current vision.. As I write, bitstamp is at 640, btce 625 and gox at 316.

Surely, it is possible that a surge could take place... We've been unable to predict in the past.

At the moment, I have a hard time believing that Mt. Gox is going to inspire sufficient confidence in order for a real large pump to be able to take place with their looming issues becoming even more worrisome with the longer passage of time and their NOT opening their withdrawals.

If they are able to open their withdrawals and fake their solvency, a little bit, then there does seem to be pent up demand for BTC prices to rise...

Nonetheless, I am thinking in terms of what seems to be real fundamental financial issues at Mt. Gox. Discussion of such signs and signals of insolvency were reflected in the below article.

http://www.coindesk.com/mt-gox-may-headed-bankruptcy/
02-17-2014 12:59 PM
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strengthstudent Offline
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Post: #1240
RE: Bitcoins up 60% in less than a month
It is hard to predict what is going to happen for the price, because Bitcoin is still so small that if a few big billionaires in a random time invested in bitcoin, it would have a big impact.

People should look at the number of transactions happening where there is a great upward trend. In fact, we are still recovering from the last 'bubble'. Bitcoin is getting more and more mainstream -- Good wife had a full episode of bitcoin, superly popular comedians are mentioning bitcoin & accepting donations in bitcoin(bill burr) and Japanese's biggest newspaper had a cover news about bitcoin. I certainly am very bullish for bitcoin. I think that only a major bug in the code or some sort of hack could stop this train.
02-18-2014 08:00 AM
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No Habit Offline
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Post: #1241
RE: Bitcoins up 60% in less than a month
I wish I had kept my coins last year. Could have made a couple grands with it.

Thinking about jumping in again.

What are they going to do about the bug in the protocol?
02-19-2014 06:34 AM
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dtf Offline
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Post: #1242
RE: Bitcoins up 60% in less than a month
(02-16-2014 04:37 PM)JayJuanGee Wrote:  As I type, price per BTC is:
Bitstamp= $606.00
BTC-e = $578.61
Mt. Gox =$243.60

Has anyone tried to arbitrage this? Ideally some kind of automated trading program or algo.
02-20-2014 02:55 AM
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Satoshi Offline
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Post: #1243
RE: Bitcoins up 60% in less than a month
(02-20-2014 02:55 AM)dtf Wrote:  
(02-16-2014 04:37 PM)JayJuanGee Wrote:  As I type, price per BTC is:
Bitstamp= $606.00
BTC-e = $578.61
Mt. Gox =$243.60

Has anyone tried to arbitrage this? Ideally some kind of automated trading program or algo.

Mt gox is 150$ now and that is really cheap. Bitstamp is at 600$. If I had money at Mtgox I would buy BTC there, as 150$ is way to low, even though they have problems with withdrawal, if they solve it, and I believe they will, that would equal a profit times four. To bad I'm not verified.
02-20-2014 05:46 AM
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strengthstudent Offline
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Post: #1244
RE: Bitcoins up 60% in less than a month
Mt.gox at 130$ been going up and down all day. Apocalypse is here. I wish mt.gox would open withdrawals soon and stop screwing the people. You can try to use mt.gox but you don't necessarily get your money back...

buy buy buy
02-20-2014 11:36 AM
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el mechanico Offline
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Post: #1245
RE: Bitcoins up 60% in less than a month
They Gox need to close trading until they resolve their problems the fact that the money is stuck there makes this entire "crash" a joke, if you can withdraw 100 dollar btc then you can withdraw 600 dollar btc. Freakin idiots!
02-20-2014 11:48 AM
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JayJuanGee Offline
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Post: #1246
RE: Bitcoins up 60% in less than a month
(02-20-2014 11:48 AM)el mechanico Wrote:  They Gox need to close trading until they resolve their problems the fact that the money is stuck there makes this entire "crash" a joke, if you can withdraw 100 dollar btc then you can withdraw 600 dollar btc. Freakin idiots!

surely there is some kind of insider job coin price manipulation going on at Mt. Gox... and they may be willing to get the coin in the $50 or lower range and then pump the shit out of it thereafter... I am sure Mt. Gox is doing some of the selling to get the price down.. and then they start to buy.. thereafter.. and then they begin to think that all of their problems will be solved.... except for the later investigation that will take place...


regarding shutting off exchanges.. they could NOT do that initially b/c too much liability would have ensued... and probably attention to the situation.... It still may cause additional liability if they were to shut off exchanges... .. but they are likely using the exchanges to hopefully manipulate their way out of their bad situation... ... whether they make it worse or NOT will be a story to be told another day

As I type
Gox hovering in the $116
Bitstamp = $574
BTC-e + $560


EDIT: To supplement this post, I saw this article.. about the speculation that there is obvious insider trading going on at Mt. Gox..

http://www.reddit.com/r/Bitcoin/comments...s_obvious/

and that is the reason for the crazy shit that is going on in the BTC market today and explaining the downtrend in BTC prices over the last few weeks... Whether MT Gox insiders are agents of some government plot, greedy or just trying to save their company from incompetence... OR... best case scenario is that they really are incompetent and are NOT manipulating or taking advantage of the situation (far stretch in my opinion, based on the pattern of behavior)..... who knows at this point... History will probably tell us more about the inside story.. but for now there is mere speculation (including from myself) about what is causing the shit at Mt. Gox and the major price differential between their exchange and the others and their several stupid ass (and non-specific and non-transparent) announcements over the past couple weeks.
(This post was last modified: 02-20-2014 02:28 PM by JayJuanGee.)
02-20-2014 01:30 PM
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dtf Offline
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Post: #1247
RE: Bitcoins up 60% in less than a month
(02-20-2014 05:46 AM)friheten Wrote:  
(02-20-2014 02:55 AM)dtf Wrote:  
(02-16-2014 04:37 PM)JayJuanGee Wrote:  As I type, price per BTC is:
Bitstamp= $606.00
BTC-e = $578.61
Mt. Gox =$243.60

Has anyone tried to arbitrage this? Ideally some kind of automated trading program or algo.

Mt gox is 150$ now and that is really cheap. Bitstamp is at 600$. If I had money at Mtgox I would buy BTC there, as 150$ is way to low, even though they have problems with withdrawal, if they solve it, and I believe they will, that would equal a profit times four. To bad I'm not verified.

Is it too late now to register and buy bitcoin on Mtgox?
02-20-2014 05:29 PM
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JayJuanGee Offline
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Post: #1248
RE: Bitcoins up 60% in less than a month
(02-20-2014 05:29 PM)dtf Wrote:  
(02-20-2014 05:46 AM)friheten Wrote:  
(02-20-2014 02:55 AM)dtf Wrote:  
(02-16-2014 04:37 PM)JayJuanGee Wrote:  As I type, price per BTC is:
Bitstamp= $606.00
BTC-e = $578.61
Mt. Gox =$243.60

Has anyone tried to arbitrage this? Ideally some kind of automated trading program or algo.

Mt gox is 150$ now and that is really cheap. Bitstamp is at 600$. If I had money at Mtgox I would buy BTC there, as 150$ is way to low, even though they have problems with withdrawal, if they solve it, and I believe they will, that would equal a profit times four. To bad I'm not verified.

Is it too late now to register and buy bitcoin on Mtgox?

As far as I know, Mt. Gox has NOT discontinued registering new customers or taking their money. Mt. Gox only discontinued all withdrawals of BTC and fiat (except probably to friends and family).

It seems a little late to register and get activated and then to get money into the Mt. Gox system, but maybe it will work. Maybe by the time you get set up with a Mt. Gox account, BTC will be trading on MT. Gox for 25 cents or less? Could be worth the risk. As I type Gox is currently at $96, bitstamp $539 and BTC e $522
02-20-2014 08:52 PM
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el mechanico Offline
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Post: #1249
RE: Bitcoins up 60% in less than a month
Don't bother they are FUCKED!!!! @ Jay you can but your cheap coins tonight no problem. I'm bleeding -100 per but not worried
02-20-2014 09:07 PM
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Post: #1250
RE: Bitcoins up 60% in less than a month
(02-20-2014 09:07 PM)el mechanico Wrote:  Don't bother they are FUCKED!!!! @ Jay you can but your cheap coins tonight no problem. I'm bleeding -100 per but not worried

El Mech: In the last couple of weeks, i have been buying BTC like crazy through Coinbase - largely thru the BTC price dips.

As the BTC price had kept going down - my purchase prices had largely been between $699 and the lowest today of $537. I have pretty much used up my February 2014 BTC allocated money, and if I continue to buy BTC, I will have to use some of my later allocated money (money allocated for March through June).... which I may do... depending on the BTC prices.

At this point, I am thinking that I am NOT going to buy anymore BTC for the next few days, unless the price today or tomorrow on Coinbase goes below $515.... .

Anyhow.... crazy how it seems that Mt. Gox is screwing up all the good fun... I would rather that they be reformed and survive than to disappear - at least for the short-term....... b/c maybe the BTC system(s) can be strengthened by this MT Gox shenanigans experience...? Strengthstudent might know?


(02-19-2014 06:34 AM)Bad-Habit Wrote:  I wish I had kept my coins last year. Could have made a couple grands with it.

Thinking about jumping in again.


Bad habit:

I had meant to respond to this post earlier.

NO time like the present, as they say..... Jump right in!!!!

If you already been into BTC a year ago, then probably, you have a BTC wallet set up already or you already know some of the ropes? or were you on an exchange?

Anyhow, I am NOT sure whether you will qualify for the receipt of matching funds from Maciano... up to no more than a dollar... or something like that... hehehehe... Smile And, would you be setting up a brand new wallet or would you use an existing wallet? Do you know how you would get back into BTC?



(02-19-2014 06:34 AM)Bad-Habit Wrote:  What are they going to do about the bug in the protocol?

This supposed bug in the BTC protocol has probably gotten too much attention in mainstream media. This supposed bug was something that Mt. Gox tried to create into an issue, even though Mt Gox knew about the situation for a couple of years.

It is a double spend issue...

The issue with the supposed bug in the protocol can be addressed through having good business practices that eliminate attempts for people to claim that they had NOT been paid.. when they were in fact paid. From my understanding , one of the ways for a business to address the situation is to NOT allow automatic processing of claims or nonpayment... but instead to manually process such claims to ensure that the coins had been transferred to the person who is claiming non payment. Apparently, that is accomplished by attempting to send the same already sent coins to oneself. If the business cannot send the same coins to itself, then that means that the coins were already sent. That is my understanding of the way that a business or a person would fix such a situation is to just improve business practices to ensure NOT to pay out claims twice.

Mt. Gox is claiming that they paid out claims twice b/c they did NOT know any better..... sounds like a made up story to me... especially, given the totality of the circumstances, including Mt. Gox's seeming lack of transparency in various regards.
02-20-2014 11:13 PM
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