Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22992.

The KGB

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Activity: 122

Merit: 10

Quote from: fonzie on February 08, 2015, 11:17:04 AM

Quote from: JorgeStolfi on February 08, 2015, 11:13:04 AM

"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.

The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.

Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053

Google translation:

Quote

WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

Bullish?

Sub 200 incoming, china is going to give a massive dump in the coming days if the news are true.

fonzie

hero member

Activity: 504

Merit: 500

Moderator

Quote from: JorgeStolfi on February 08, 2015, 11:13:04 AM

"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.

The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.

Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053

Google translation:

Quote

WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

Bullish?

JorgeStolfi

hero member

Activity: 910

Merit: 1003

"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins. Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.

The nature of mycoin.hk's business was not clear. It apparently involved mining, and perhaps some Ponzi-like scheme. I could not tell whether it also worked as a live exchange.

Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053

Google translation:

Quote

WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

EDIT: See also the reddit thread. One comment in there claims that the report is incorrect.

fonzie

hero member

Activity: 504

Merit: 500

Moderator

Quote from: dakota neat on February 08, 2015, 11:04:10 AM

Quote from: Ezmoneyezlife on February 08, 2015, 11:02:19 AM

Quote from: Newar on February 08, 2015, 11:01:00 AM

Quote from: dakota neat on February 08, 2015, 10:55:01 AM

pathetic dump attempt. will fail like the others.

A lot less coins brought it down to a similar level.

Yep. Looks like sub 200 incoming.

sub 200 is as far away as 250s

Plz buy more of dem cheap coins. Guaranteed profit? Right? Or are you already out of money and holding the bag, like most of the bulls?

mrkavasaki

hero member

Activity: 888

Merit: 500

lol ofc we will see sub $200 coins. there is really no doubt Tongue

rikfredsy

sr. member

Activity: 256

Merit: 250

bitcoin finaly fixed 200-220 $ ?

dakota neat

hero member

Activity: 658

Merit: 500

Quote from: Ezmoneyezlife on February 08, 2015, 11:02:19 AM

Quote from: Newar on February 08, 2015, 11:01:00 AM

Quote from: dakota neat on February 08, 2015, 10:55:01 AM

pathetic dump attempt. will fail like the others.

A lot less coins brought it down to a similar level.

Yep. Looks like sub 200 incoming.

sub 200 is as far away as 250s

Ezmoneyezlife

full member

Activity: 224

Merit: 100

Quote from: Newar on February 08, 2015, 11:01:00 AM

Quote from: dakota neat on February 08, 2015, 10:55:01 AM

pathetic dump attempt. will fail like the others.

A lot less coins brought it down to a similar level.

Yep. Looks like sub 200 incoming.

Newar

legendary

Activity: 1358

Merit: 1001

https://gliph.me/hUF

Quote from: dakota neat on February 08, 2015, 10:55:01 AM

pathetic dump attempt. will fail like the others.

A lot less coins brought it down to a similar level.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: dakota neat on February 08, 2015, 10:55:01 AM

pathetic dump attempt. will fail like the others.

dakota neat

hero member

Activity: 658

Merit: 500

pathetic dump attempt. will fail like the others.

EFS

staff

Activity: 3934

Merit: 2224

Crypto Swap Exchange

I remember that from orange Ignore button, ChartBuddy was the most ignored user here last year.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: explorer on February 08, 2015, 10:35:07 AM

...
The 'scrollathon' seems only to ensue when there are no other posts. Otherwise it is dispersed through the page(s) rather than edit/added...

What scrollathon?

Quote from: Sitarow on February 08, 2015, 08:10:43 AM

Quote from: GreekGeek on February 08, 2015, 07:14:07 AM

I am bored

Now back to being bored Cheesy

8:05AM EST

8:08AM EST

8:18AM EST

8:30AM EST

8:48AM EST

8:59AM EST

9:22AM EST

9:40AM EST

10:00AM EST

10:05AM EST

Brewins

legendary

Activity: 1120

Merit: 1000

dafuq Sitarow?

Your charts are getting bigger and bigger.

May you put some of them on spoiler to make it shorter?

podyx

legendary

Activity: 2338

Merit: 1035

Quote from: bclcjunkie on February 08, 2015, 10:34:36 AM

eye opening interview on bitcoin's current state from futurologist Vinay Gupta...

https://bitcoinmagazine.com/18000/bitcoin-is-teaching-realism-to-libertarians-an-interview-with-old-school-cypherpunk-vinay-gupta/

especially these snippets..

Many bitcoiners would rather not see Wall Street involved at all, in order to preserve Bitcoin’s promise of freedom…

Well, that kind of utopian vision, unfortunately, is total horses*t for Bitcoin. There are three problems: natural monopolies, cartels, and power law distributions of wealth.

Bitcoin-mining is specialized by groups with heavy technological capability and enough financial strength to get custom hardware made. These miners have now pooled their computing power together because it evens out their earnings, effectively minimizing their risk. In the case of Ghash, this even puts them perilously close to the 51% point for control of the blockchain. This is cartel power.

Meanwhile, the distribution of bitcoins seems to replicate the current situation where 300 billionaires control the same amount of wealth as three billion poor people. This is partly because of early adopter dynamics and the increasing hardship of the mining process, but there’s also some evidence that power law distributions of wealth is just what happens in unregulated economies. This is a point many libertarians would argue against… but we’re doing the experiment right now, and there’s every indication that the basic structures of libertarian economics do push into that direction.

And then you have the Bitcoin Foundation, which is emerging naturally from the Bitcoin environment simply because it has established an economically efficient configuration. By paying the technical priesthood of Bitcoin known as the Core developers, the Foundation has created a huge amount of centralized power within a system that didn’t really start with any, which has now effectively turned it into a natural monopoly. And once you have a monopoly, it looks like a state. No wonder that the Bitcoin Foundation looks so frightening.

Well, anarchy libertarians were never the brightest...

explorer

legendary

Activity: 2016

Merit: 1259

Quote from: yefi on February 08, 2015, 10:19:38 AM

Quote from: Sitarow on February 08, 2015, 08:45:10 AM

Chart buddy is a service to update the thread on BTC only.

As far as my posts it is all manual. In 2-3 weeks things will have changed and people would have gotten accustom to the new trend.

Make sure you make a separate account for it, because - and no offence - I'm going to have to put you on ignore if you're posting that scrollathon on every page.

The 'scrollathon' seems only to ensue when there are no other posts. Otherwise it is dispersed through the page(s) rather than edit/added. A dedicated account would be good for those that are generally uninterested in the charts, but don't choose to ignore a solid contributor. That last one had me saying WTF?! Shocked

bclcjunkie

hero member

Activity: 833

Merit: 1001

eye opening interview on bitcoin's current state from futurologist Vinay Gupta...

https://bitcoinmagazine.com/18000/bitcoin-is-teaching-realism-to-libertarians-an-interview-with-old-school-cypherpunk-vinay-gupta/

especially these snippets..

Many bitcoiners would rather not see Wall Street involved at all, in order to preserve Bitcoin’s promise of freedom…

Well, that kind of utopian vision, unfortunately, is total horses*t for Bitcoin. There are three problems: natural monopolies, cartels, and power law distributions of wealth.

Bitcoin-mining is specialized by groups with heavy technological capability and enough financial strength to get custom hardware made. These miners have now pooled their computing power together because it evens out their earnings, effectively minimizing their risk. In the case of Ghash, this even puts them perilously close to the 51% point for control of the blockchain. This is cartel power.

Meanwhile, the distribution of bitcoins seems to replicate the current situation where 300 billionaires control the same amount of wealth as three billion poor people. This is partly because of early adopter dynamics and the increasing hardship of the mining process, but there’s also some evidence that power law distributions of wealth is just what happens in unregulated economies. This is a point many libertarians would argue against… but we’re doing the experiment right now, and there’s every indication that the basic structures of libertarian economics do push into that direction.

And then you have the Bitcoin Foundation, which is emerging naturally from the Bitcoin environment simply because it has established an economically efficient configuration. By paying the technical priesthood of Bitcoin known as the Core developers, the Foundation has created a huge amount of centralized power within a system that didn’t really start with any, which has now effectively turned it into a natural monopoly. And once you have a monopoly, it looks like a state. No wonder that the Bitcoin Foundation looks so frightening.

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: Sitarow on February 08, 2015, 08:45:10 AM

Chart buddy is a service to update the thread on BTC only.

As far as my posts it is all manual. In 2-3 weeks things will have changed and people would have gotten accustom to the new trend.

Make sure you make a separate account for it, because - and no offence - I'm going to have to put you on ignore if you're posting that scrollathon on every page.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: JorgeStolfi on February 08, 2015, 01:22:01 AM

Quote from: cbeast on February 07, 2015, 11:12:20 PM

It is in fact cheaper for online transactions, safer for protecting your identity, simpler for international transactions, faster for online payments, and more secure

Yeah, how stupid are people for not seeing that.

Shout it from the mountaintop! I wish all teachers would just tell their students they are stupid. They world would be a lot better off. Education is a waste of time and money. Roll Eyes

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22992. (Read 26708735 times)