All this good news and yet the price doesn't budge

Syke

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Quote from: exocytosis on May 29, 2014, 06:07:19 PM

Notice that Mike Hearn, who did the last "audit", clearly stated that it was not an audit. He said the only thing he could confirm, was that Bitstamp still held around 189k BTC of their customers' funds. That's it.

And why should we trust him anyway? Oh, yeah, because he's from the Bitcoin Foundation, like Saint Mark Karpeles. Everyone in the Bitcoin Foundation are trustworthy, of course. They're incapable of doing evil.

And btw, they didn't show him (or anyone else) their fiat reserves. (If they have any left.) I wonder why ... Roll Eyes

Probably because they just did a 3rd party audit 6 months ago.

https://www.bitstamp.net/s/documents/Firestartr_DD_Letter_for_Bitstamp.pdf

You can't expect a company to release multiple audits per year.

protokol

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Quote from: Wandererfromthenorth on May 30, 2014, 02:44:29 PM

Quote from: protokol on May 30, 2014, 02:39:32 PM

Quote from: protokol on May 29, 2014, 02:21:15 PM

Yes, I truly expected it to go up this week, so I rushed to open a leveraged long position on Monday at $575 (BTCE [facepalm]). Unfortunately, the position will be automatically closed tomorrow evening, so it better fucking go up a bit in the next 24hrs or I'll lose quite a lot of money haha!

I'm such a shit trader... In hindsight the volume is so low, that I should never have rushed into it, minimal support for the rally of last week. I suck.

At least I'm hodling real BTC, none of that CFD shite

hahahah I suggest you stop trading on BTC-e and you come to Bitfinex for leveraged trading, much better, and your positions don't get closed after a few days like that Grin

Seriously, oh and the owners are much more trustworthy than the shady BTC-E Grin

Yeah, I've been meaning to check out Bitfinex, but I'm much more comfortable trading dirty fiat than risking my precious BTC haha (I've been using Avatrade, who use BTCe price in their BTC instrument. Risky, but their 20:1 leverage can be very lucrative). Of course I could just buy more BTC to use on Bitfinex...

I do need to find a fiat broker with better BTC options really, I'm gonna run out of luck sooner or later...

Wandererfromthenorth

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Quote from: protokol on May 30, 2014, 02:39:32 PM

Quote from: protokol on May 29, 2014, 02:21:15 PM

Yes, I truly expected it to go up this week, so I rushed to open a leveraged long position on Monday at $575 (BTCE [facepalm]). Unfortunately, the position will be automatically closed tomorrow evening, so it better fucking go up a bit in the next 24hrs or I'll lose quite a lot of money haha!

I'm such a shit trader... In hindsight the volume is so low, that I should never have rushed into it, minimal support for the rally of last week. I suck.

At least I'm hodling real BTC, none of that CFD shite

hahahah

I suggest you stop trading on BTC-e and you come to Bitfinex for leveraged trading, much better, and your positions don't get closed after a few days like that Grin

Seriously, oh and the owners are much more trustworthy than the shady BTC-E Grin

protokol

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Activity: 1188

Merit: 1016

Quote from: protokol on May 29, 2014, 02:21:15 PM

Yes, I truly expected it to go up this week, so I rushed to open a leveraged long position on Monday at $575 (BTCE [facepalm]). Unfortunately, the position will be automatically closed tomorrow evening, so it better fucking go up a bit in the next 24hrs or I'll lose quite a lot of money haha!

I'm such a shit trader... In hindsight the volume is so low, that I should never have rushed into it, minimal support for the rally of last week. I suck.

At least I'm hodling real BTC, none of that CFD shite

TERA

hero member

Activity: 728

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OP are you blind? It rallied 30% in the past week and is up 70% from the bottom

ShameOnYou

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Quote from: gentlemand on May 29, 2014, 07:20:16 PM

Quote from: pinksheep on May 29, 2014, 06:23:16 PM

Quote from: gentlemand on May 29, 2014, 06:17:48 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

I think it's bigger than Gox was when it popped. I don't think there are any plans for it to collapse. 'Proper' exchanges are just around the corner in the US. If it can carry on infuriating customers for a few more months then everything'll be fine.

So when these 'proper' exchanges come along, will Bitstamp etc cease to exist, or at least become less popular?

I assume they would either have to massively step up their game to match any new players or would slowly fade away.

I'd second the latter point. I think when we get professional, regulated exchanges that are backed by companies that have been in the financial industry for decades at the least, Stamp et al will just bleed market share perpetually. I think there is zero chance they will be able to compete.

gentlemand

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Welt Am Draht

Quote from: pinksheep on May 29, 2014, 06:23:16 PM

Quote from: gentlemand on May 29, 2014, 06:17:48 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

I think it's bigger than Gox was when it popped. I don't think there are any plans for it to collapse. 'Proper' exchanges are just around the corner in the US. If it can carry on infuriating customers for a few more months then everything'll be fine.

So when these 'proper' exchanges come along, will Bitstamp etc cease to exist, or at least become less popular?

I assume they would either have to massively step up their game to match any new players or would slowly fade away. I'd certainly be a lot happier leaving large chunks of money in a place with rock solid transparency and clear cut legal comebacks if they did go tits up.

ShameOnYou

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Quote from: Torque on May 29, 2014, 06:37:07 PM

Quote from: exocytosis on May 29, 2014, 06:31:30 PM

Quote from: Torque on May 29, 2014, 06:25:32 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same?

Ok.

I'm gonna quote myself, from earlier in this thread:

Quote

Notice that Mike Hearn, who did the last "audit", clearly stated that it was not an audit. He said the only thing he could confirm, was that Bitstamp still held around 189k BTC of their customers' funds. That's it.

And why should we trust him anyway? Oh, yeah, because he's from the Bitcoin Foundation, like Saint Mark Karpeles. Everyone in the Bitcoin Foundation are trustworthy, of course. They're incapable of doing evil.

And btw, they didn't show him (or anyone else) their fiat reserves. (If they have any left.) I wonder why ... Roll Eyes

Yeah, saw that you're a newbish account here, and the majority of your thread responses are trollish and full of doom. Guessing that you are a troll day trader.

Welcome to ignore.

Without addressing anything else, you're not really making a point here. You're just using ad hominem and attacking him personally rather than responding to what he said. So what of his comments on the "audit"?

exocytosis

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Quote from: pinksheep on May 29, 2014, 06:34:46 PM

Would BTC survive such a collapse if it were to happen?

Yes.

bitcoinsrus

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Quote from: pinksheep on May 29, 2014, 06:34:46 PM

Would BTC survive such a collapse if it were to happen?

Well, most of the bitcoins are not on exchanges (although the mt gox exchanges did have quite a bit). Probably a dip and then recovery like it did with gox.

Torque

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Quote from: exocytosis on May 29, 2014, 06:31:30 PM

Quote from: Torque on May 29, 2014, 06:25:32 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same?

Ok.

I'm gonna quote myself, from earlier in this thread:

Quote

Notice that Mike Hearn, who did the last "audit", clearly stated that it was not an audit. He said the only thing he could confirm, was that Bitstamp still held around 189k BTC of their customers' funds. That's it.

And why should we trust him anyway? Oh, yeah, because he's from the Bitcoin Foundation, like Saint Mark Karpeles. Everyone in the Bitcoin Foundation are trustworthy, of course. They're incapable of doing evil.

And btw, they didn't show him (or anyone else) their fiat reserves. (If they have any left.) I wonder why ... Roll Eyes

Yeah, saw that you're a newbish account here, and the majority of your thread responses are trollish and full of doom. Guessing that you are a troll day trader.

Welcome to ignore.

pinksheep

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Activity: 196

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Would BTC survive such a collapse if it were to happen?

exocytosis

sr. member

Activity: 476

Merit: 250

Quote from: Torque on May 29, 2014, 06:25:32 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same?

Ok.

I'm gonna quote myself, from earlier in this thread:

Quote

Notice that Mike Hearn, who did the last "audit", clearly stated that it was not an audit. He said the only thing he could confirm, was that Bitstamp still held around 189k BTC of their customers' funds. That's it.

And why should we trust him anyway? Oh, yeah, because he's from the Bitcoin Foundation, like Saint Mark Karpeles. Everyone in the Bitcoin Foundation are trustworthy, of course. They're incapable of doing evil.

And btw, they didn't show him (or anyone else) their fiat reserves. (If they have any left.) I wonder why ... Roll Eyes

pinksheep

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Activity: 196

Merit: 100

Quote from: Torque on May 29, 2014, 06:25:32 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same?

Ok.

It wasn't me that said it; I'm only quoting what somebody else said earlier in the thread - and desperately hoping it isn't true.

DannyElfman

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Activity: 406

Merit: 250

still, i can't say i *trust* bitstamp to be competent. it's hard to trust any companies who have only been around a couple years, especially in such an unregulated environment.

Torque

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Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same?

Ok.

pinksheep

full member

Activity: 196

Merit: 100

Quote from: gentlemand on May 29, 2014, 06:17:48 PM

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

I think it's bigger than Gox was when it popped. I don't think there are any plans for it to collapse. 'Proper' exchanges are just around the corner in the US. If it can carry on infuriating customers for a few more months then everything'll be fine.

So when these 'proper' exchanges come along, will Bitstamp etc cease to exist, or at least become less popular?

Wandererfromthenorth

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Activity: 742

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Quote from: dhenson on May 29, 2014, 01:42:54 PM

It's a fallacy to believe that the bitcoin price is determined by fundamentals.

Fucking This ^^^

gentlemand

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Welt Am Draht

Quote from: pinksheep on May 29, 2014, 06:15:10 PM

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

I think it's bigger than Gox was when it popped. I don't think there are any plans for it to collapse. 'Proper' exchanges are just around the corner in the US. If it can carry on infuriating customers for a few more months then everything'll be fine.

pinksheep

full member

Activity: 196

Merit: 100

Quote from: exocytosis on May 29, 2014, 01:42:05 PM

The market is reacting badly to rumors of Bitstamp's impending collapse.

Merchant adoption and that sort of thing is priced in already.

I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin.

Topic: All this good news and yet the price doesn't budge (Read 1868 times)