Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26732. (Read 26609617 times)

Explanation

its outrageous such inability to face novelty. its not about implementing old mechanisms to somethign new. its about creating a totally different, new frame.
keep trying fools. this will end up as bad as P2P file sharing for the record/movie industry

you want to know how they will regulate Bitcoin in NY state ? http://www.reddit.com/r/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/cizyqyz

Entities are considered dealing in virtual currencies if:
They transfer Bitcoins on behalf of one person. This includes Bitcoin tipping (/u/changetip), mixers, Blockchain.info Send Shared, CoinJoin, Dark Wallet (200.2n1)
They hold or have control over Bitcoins for their users. This includes Mining pools, Coinbase, Circle, Greenaddress.it, all exchanges. (200.2n2)
They buy or sell Bitcoins as a business activity. This includes Local Bitcoins sellers, #bitcoin-otc. FinCEN statements includes selling physical coinage (including casascius coins) also regulated. (200.2n3)
They create a virtual currency, even if it is decentralized. This includes creating altcoins. In fact, Satoshi would have commited a crime creating Bitcoin without registration. (200.2n5)
They trade any virtual currency, even for another virtual currency. This includes alt coin exchanges. Mintpal, Cryptsy, BTER, etc (200.2n4)
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
Perform AML and collect identities, including verification of government issued Photo ID and proof of address, and retain these information for 10 years. (200.15a)
Retain all transaction logs for 10 years, including real name & physical addresses of ALL parties of a transaction - yes, including whoever you are sending to. (200.12a1)
Report all transactions over the USD value of $3000, and file Suspicious Activity Reports. (200.15g4)
Maintain collateral in the form of USD, including collateral for Bitcoin balances. The % as collateral is unspecified.
Retained earnings and profits of in invested in US dollars. They may not keep any profit in Bitcoin. (200.8b)
Forfeit Bitcoins that are inactive for over 5 years to the State of New York - (200.12c)
Not obfuscate any transactions - Bitcoin mixing would be illegal. (200.15f)



Interesting: now these people who creates altcoin would be committing a crime, even satoshi committed a crime following this logic. and NY wants to take your coins, so you wont be able to use your coins as a saving method ? yea so bad news for hodlers.


this is the whole document if you want to read it http://www.dfs.ny.gov/about/press2014/pr1407171-vc.pdf

For some reason, I missed this post/prediction until it was required by Richy_T.

In sum, the prediction within this post is fucking ridiculous and potentially based on some fantasy land version of the world and bitcoins place in the world.

Largely, my somewhat subtle irritation with the prediction stems from the 99% or more likelihood that Jorge knows better. NOT only is he sloppy with his description of his prediction, his predictive numbers are restarted.


In essence, Jorge's prediction is in lala land bc it seems quite unlikely, less than 30% chance, absent some catastrophic event, that bitcoin prices are going below $500 in the remainder of 2014.

Further, seems that it is more likely than not (more than 50% chance) that BTC prices will go above $750 during the remainder of 2014.

And what does this tell you?

Atleast we are back to 630 and it didn't take big volume.

Why not just call it a wealth distribution mechanism?

I'm not really sure how it's a pyramid or inverted/reverse pyramid scheme, either.  Could you please explain?

And btw, the reason I'm being nit-picky about such terminology is because of the connotations that go with it.  "Ponzi," "pyramid scheme," and for that matter, just "scheme," are very negative.  Maybe Satoshi Nakamoto created bitcoin to be some sort of elaborate scheme, but that's becoming less likely as it gains acceptance and trades freely in open markets, if for no other reason than that it would be more profitable to slowly sell off his stash than, say, dump all of it on the open market and crash it.

Well that didn't quiet hit the mark. Let's try again now, shall we?

How else are they going to make $52.93 today?

Explanation

Why's everyone selling!???

 

+$10. Nice rally 

It seems someone wanted coins.

I think this was it. Dumpers will soon take over again.

Idiot Manipulator should start dumping any minute now.

fubar

Come on bitstamp, you can do better!

So price got up some 10 USD and everyone thinks it will go to the moon again?

I would be impressed if 650 within the hour. 'Dat would be something