Stop saying the Bitstamp coins were dumped!! They are right $%&#ing here -- > - page 2.

QuestionAuthority

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Quote from: fonenumba on January 07, 2015, 09:56:50 PM

Quote from: QuestionAuthority on January 07, 2015, 05:17:29 PM

Quote from: jbreher on January 07, 2015, 05:15:09 PM

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

I wouldn't expect them to care but I would expect them to react.

The expectation that day traders would likely have is that once bitstamp opens back up people will want to sell their bitcoin for fiat in mass. This is actually counter-intuitive because they would probably be able to withdraw bitcoin faster then they can withdraw fiat

I would agree that people with accounts elsewhere will very likely withdraw bitcoins. Those people that don't have an account elsewhere or the ability to get one will need to withdraw fiat. It's going to be fun to watch this unfold.

fonenumba

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Quote from: QuestionAuthority on January 07, 2015, 05:17:29 PM

Quote from: jbreher on January 07, 2015, 05:15:09 PM

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

I wouldn't expect them to care but I would expect them to react.

The expectation that day traders would likely have is that once bitstamp opens back up people will want to sell their bitcoin for fiat in mass. This is actually counter-intuitive because they would probably be able to withdraw bitcoin faster then they can withdraw fiat

mlferro

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Quote from: resya on January 07, 2015, 05:46:26 PM

The dip has nothing to do with bitstamp, but it's really Interesting timing on the Bitstamp hack, almost like it was timed to remind investors how sketchy and unsafe Bitcoin is and how there is certainly no escape from tainted markets in crypto.

The ordinary uneducated people will be pointing fingers on how bitcoin is unsecure and dangerous investment

this is fact!
when have no instruction, is natural condemn what does not understand

QuestionAuthority

legendary

Activity: 2156

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You lead and I'll watch you walk away.

Quote from: jbreher on January 07, 2015, 05:23:22 PM

Quote from: QuestionAuthority on January 07, 2015, 05:17:29 PM

Quote from: jbreher on January 07, 2015, 05:15:09 PM

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

I wouldn't expect them to care but I would expect them to react.

Sure - price goes down, a handful of orders in their 'buying' ladder get filled.
They take the BTC and enter a bunch of new sell orders in their selling ladder.
Price goes up, a handful of orders in their selling ladder get filled.
They take the proceeds, enter a bunch new orders in their buying ladder.
...

What has that got to do with a net change in Bitcoin adoption?

I don't know what it has to do with Bitcoin adoption. I thought we were talking about price shifts?

resya

sr. member

Activity: 294

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The dip has nothing to do with bitstamp, but it's really Interesting timing on the Bitstamp hack, almost like it was timed to remind investors how sketchy and unsafe Bitcoin is and how there is certainly no escape from tainted markets in crypto.

The ordinary uneducated people will be pointing fingers on how bitcoin is unsecure and dangerous investment

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: QuestionAuthority on January 07, 2015, 05:17:29 PM

Quote from: jbreher on January 07, 2015, 05:15:09 PM

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

I wouldn't expect them to care but I would expect them to react.

Sure - price goes down, a handful of orders in their 'buying' ladder get filled.
They take the BTC and enter a bunch of new sell orders in their selling ladder.
Price goes up, a handful of orders in their selling ladder get filled.
They take the proceeds, enter a bunch new orders in their buying ladder.
...

What has that got to do with a net change in Bitcoin adoption?

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: jbreher on January 07, 2015, 05:15:09 PM

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

I wouldn't expect them to care but I would expect them to react.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: QuestionAuthority on January 07, 2015, 04:10:41 PM

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

What do day traders care? Up, down, doesn't matter to them as long as its changing.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: jbreher on January 07, 2015, 04:00:14 PM

Quote from: QuestionAuthority on January 07, 2015, 09:43:32 AM

Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing.

Not claiming genius, but I can speculate. Perhaps Bitcoin has in the last year shed all those who don't understand its long term prospects, and we are left with a population of those wise enough to see that this event does not affect anything in the long term.

I wasn't really thinking about wise people. I was talking more about day traders and speculators. Grin

astrobitcoin

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Quote from: newIndia on January 07, 2015, 03:54:19 PM

Quote from: betasuppe on January 07, 2015, 10:10:01 AM

If the problem was one compromised wallet, why is the hole web shut down?
There must be pro technician working at B.stamp.

Why cant we access our own account at least?

This is suspect.

If they were honest, they would have allowed you to withdraw your funds from cold wallet and then carry on the investigation. They are locking u in. That means something is fishy.

no. that means that they have to investigate for bugs and causes and solve it, avoiding more losses of your bitcoins

jbreher

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lose: unfind ... loose: untight

Quote from: QuestionAuthority on January 07, 2015, 09:43:32 AM

Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing.

Not claiming genius, but I can speculate. Perhaps Bitcoin has in the last year shed all those who don't understand its long term prospects, and we are left with a population of those wise enough to see that this event does not affect anything in the long term.

newIndia

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Activity: 2226

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Quote from: betasuppe on January 07, 2015, 10:10:01 AM

If the problem was one compromised wallet, why is the hole web shut down?
There must be pro technician working at B.stamp.

Why cant we access our own account at least?

This is suspect.

If they were honest, they would have allowed you to withdraw your funds from cold wallet and then carry on the investigation. They are locking u in. That means something is fishy.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: BreathOfZen on January 06, 2015, 08:35:22 PM

Hopefully for sanity's sake, ... It is an interesting question though if the Bitcoin core team could develop a "Banned list" that is issued to the accepting nodes and refuses to transfer coins from banned accounts though.

Hopefully for sanity's sake, you will search more and openly muse less. Here's a concise summary of the conclusion every other time someone floats this idea before thinking it through:

A Bad Idea

betasuppe

newbie

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If the problem was one compromised wallet, why is the hole web shut down?
There must be pro technician working at B.stamp.

Why cant we access our own account at least?

This is suspect.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

So your answer is that the price dropped because Bitstamp was hacked. Where have I heard that before?

turvarya

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Quote from: madmat on January 07, 2015, 09:47:17 AM

Quote from: QuestionAuthority on January 07, 2015, 09:43:32 AM

Quote from: Naruto.me on January 07, 2015, 07:39:59 AM

Quote from: mayax on January 07, 2015, 07:36:40 AM

Quote from: Naruto.me on January 07, 2015, 07:25:37 AM

I think the thief will try to cash out some of the coin (small proportion) through Alt-coin exchange
That's why he/she split the coin.

would you not do the same? who will exchange 19K BTC at once? the hacker will sell parts.

what is somehow funny is that other exchanger will fulfill the transaction.

Stolen funds are processed without any question. This is money laundering which is possible through Bitcoin.

When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved.

Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention.

I know it is possible , but some people still think they can trace that thief.

They can to a point but I don't know why they would want to. They haven't been able to successfully do anything about a theft here by tracing coins except for the Ozcoin hack and MtCocks confiscation. Ozcoin was the only case where something was done right. You could argue that they shouldn't have done it. When MtGox confiscated stolen coins that's only because Gox was a bigger thief.

Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing. Could it be because the market price is phoney and manipulated anyway?

Price went down from 315 to 255 the day before bitstamp went offline and you think this is not related ? Some people knew it, before anyone and dumped hard. The news came after, and market is just waiting bitstamp to be live again.

So, they knew, that Bitstamp was hacked before the coins were moved?
Seems plausible Roll Eyes

madmat

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Quote from: QuestionAuthority on January 07, 2015, 09:43:32 AM

Quote from: Naruto.me on January 07, 2015, 07:39:59 AM

Quote from: mayax on January 07, 2015, 07:36:40 AM

Quote from: Naruto.me on January 07, 2015, 07:25:37 AM

I think the thief will try to cash out some of the coin (small proportion) through Alt-coin exchange
That's why he/she split the coin.

would you not do the same? who will exchange 19K BTC at once? the hacker will sell parts.

what is somehow funny is that other exchanger will fulfill the transaction.

Stolen funds are processed without any question. This is money laundering which is possible through Bitcoin.

When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved.

Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention.

I know it is possible , but some people still think they can trace that thief.

They can to a point but I don't know why they would want to. They haven't been able to successfully do anything about a theft here by tracing coins except for the Ozcoin hack and MtCocks confiscation. Ozcoin was the only case where something was done right. You could argue that they shouldn't have done it. When MtGox confiscated stolen coins that's only because Gox was a bigger thief.

Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing. Could it be because the market price is phoney and manipulated anyway?

Price went down from 315 to 255 the day before bitstamp went offline and you think this is not related ? Some people knew it, before anyone and dumped hard. The news came after, and market is just waiting bitstamp to be live again.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: Naruto.me on January 07, 2015, 07:39:59 AM

Quote from: mayax on January 07, 2015, 07:36:40 AM

Quote from: Naruto.me on January 07, 2015, 07:25:37 AM

I think the thief will try to cash out some of the coin (small proportion) through Alt-coin exchange
That's why he/she split the coin.

would you not do the same? who will exchange 19K BTC at once? the hacker will sell parts.

what is somehow funny is that other exchanger will fulfill the transaction.

Stolen funds are processed without any question. This is money laundering which is possible through Bitcoin.

When a criminal activity(hacking in this case) generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved.

Criminals do this by disguising the sources, changing the form, or moving the funds to a place where they are less likely to attract attention.

I know it is possible , but some people still think they can trace that thief.

They can to a point but I don't know why they would want to. They haven't been able to successfully do anything about a theft here by tracing coins except for the Ozcoin hack and MtCocks confiscation. Ozcoin was the only case where something was done right. You could argue that they shouldn't have done it. When MtGox confiscated stolen coins that's only because Gox was a bigger thief.

Can one of you geniuses tell me why this isn't effecting the market at all. An exchange goes down without so much as a hiccup. No panic selling, no day traders manipulating the market, no people pissed off because their money was frozen and cashing out everywhere else - nothing. Could it be because the market price is phoney and manipulated anyway?

turvarya

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Activity: 714

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Quote from: johnyj on January 07, 2015, 09:31:08 AM

The funny thing is that the hack happened during a dramatic price fall

The message given by exchange: If you dare to short the bitcoin massively, your coins will be hacked on exchange Grin

And it actually worked. Price is going up since the hack. Wink

johnyj

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Beyond Imagination

The funny thing is that the hack happened during a dramatic price fall

The message given by exchange: If you dare to short the bitcoin massively, your coins will be hacked on exchange Grin

Topic: Stop saying the Bitstamp coins were dumped!! They are right $%&#ing here -- > - page 2. (Read 5608 times)