Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27554.

dreamspark

hero member

Activity: 798

Merit: 1000

Quote from: hyphymikey on May 27, 2014, 12:38:01 PM

I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.

Out of interest. New shorts are opened all the time so as one closes another one opens per se, what would you consider a small number of lent BTC (bear in mind BTC provided != a short on the market as you can hold liquidity and just pay the interest on it, with BTC that rate of interest is very low so people often take BTC loans at very low rates when they think they may need it soon)

ShroomsKit

hero member

Activity: 672

Merit: 500

600 needs to go or we will eventually go down again i think.

ChrisML

sr. member

Activity: 308

Merit: 250

Quote from: hyphymikey on May 27, 2014, 12:38:01 PM

I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.

It's crawling up... by $0.10 a minute Cheesy

We will get there, wherever that may be.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: JorgeStolfi on May 27, 2014, 12:35:08 PM

Quote from: Syke on May 27, 2014, 11:02:47 AM

Quote from: JorgeStolfi on May 27, 2014, 10:03:45 AM

It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...

Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem.

That is utter bullshit, please stop repeating it.

I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total. In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone. Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least. So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud.

You are comparing cc fraud /now/, in a mature e-commerce environment to btc fraud as commited in a nascent Bitcoin environment. If you really don't see any problem with that comparison, go ahead, but don't complain if people accuse you of biased perception.

Quote from: ChrisML on May 27, 2014, 12:36:07 PM

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore?

No, I'd rather not. Jorge is certainly stubborn and probably biased, but intelligent and polite. I enjoy the discussions with him.

Broseph Stalin

member

Activity: 65

Merit: 10

Stamp, tear down this wall!

$590 - 531.38476183 BTC

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: JimboToronto on May 27, 2014, 12:32:50 PM

Quote from: ShroomsKit on May 27, 2014, 11:51:12 AM

Quote from: JimboToronto on May 27, 2014, 11:39:30 AM

Quote from: ShroomsKit on May 27, 2014, 11:08:09 AM

I can't believe there are still people here who have that guy not on ignore.

I find most of these dingbat trolls to be at least mildly amusing. Some are occasionally hilarious.

Only one is such an arrogant scumbag that I put him on ignore. Guess who.

Rpietela?

LOL No.

He may have overly high self esteem but he's not a troll.

I'll give you a hint. It's someone whose forum name rhymes with ShatTheTwat.

Haha ok. I can't recall any of his posts so i think i put him on ignore real fast.

Arghhh

full member

Activity: 182

Merit: 100

Quote from: ChrisML on May 27, 2014, 12:36:07 PM

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore?

+2 He's a paid bank shill.

seldon

sr. member

Activity: 353

Merit: 250

Quote from: ChrisML on May 27, 2014, 12:36:07 PM

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore?

+1
This thread needs a kickban function

hyphymikey

hero member

Activity: 784

Merit: 1000

I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.

ChrisML

sr. member

Activity: 308

Merit: 250

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore?

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: Syke on May 27, 2014, 11:02:47 AM

Quote from: JorgeStolfi on May 27, 2014, 10:03:45 AM

It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...

Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem.

That is utter bullshit, please stop repeating it.

I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total. In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone. Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least. So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud.

Cassius

legendary

Activity: 1764

Merit: 1031

Quote from: JorgeStolfi on May 27, 2014, 12:26:05 PM

Quote from: Cassius on May 27, 2014, 10:13:36 AM

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they? Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world. Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle. One big "advantage" of bitcoin is that law and police often cannot even tell whether a crime was committed.

You are as selective in the points you answer as the information about bitcoin you choose to accept or ignore.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: JorgeStolfi on May 27, 2014, 12:26:05 PM

Quote from: Cassius on May 27, 2014, 10:13:36 AM

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they? Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world. Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle. One big "advantage" of bitcoin is that law and police often cannot even tell whether a crime was committed.

You have a remarkably bad memory for this stuff then.

I distinctly remember the repeated (ad nauseam) prediction that "e-commerce" would never take off because of the inherent risks of using your credit card online.

That was before amazon put a nail into the coffin of that notion obviously.

JimboToronto

legendary

Activity: 4242

Merit: 5039

You're never too old to think young.

Quote from: ShroomsKit on May 27, 2014, 11:51:12 AM

Quote from: JimboToronto on May 27, 2014, 11:39:30 AM

Quote from: ShroomsKit on May 27, 2014, 11:08:09 AM

I can't believe there are still people here who have that guy not on ignore.

I find most of these dingbat trolls to be at least mildly amusing. Some are occasionally hilarious.

Only one is such an arrogant scumbag that I put him on ignore. Guess who.

Rpietela?

LOL No.

He may have overly high self esteem but he's not a troll.

I'll give you a hint. It's someone whose forum name rhymes with ShatTheTwat.

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: ChrisML on May 27, 2014, 12:31:42 PM

We need to see this $600 being broken TONIGHT. Lets do this sheebs.

Yes. Tired of the $500's! Grin

ChrisML

sr. member

Activity: 308

Merit: 250

We need to see this $600 being broken TONIGHT. Lets do this sheebs.

ChrisML

sr. member

Activity: 308

Merit: 250

Quote from: cbeast on May 27, 2014, 12:30:05 PM

Quote from: JorgeStolfi on May 27, 2014, 12:26:05 PM

Quote from: Cassius on May 27, 2014, 10:13:36 AM

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they? Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world. Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle. One big "advantage" of bitcoin is that law and police often cannot even tell whether a crime was committed.

Online dating in the 1990s. How did anyone survive that?

Making sure you dont date a dude named: Loverapingwoman. Or something like that.

edwardspitz

sr. member

Activity: 546

Merit: 250

Quote from: cbeast on May 27, 2014, 12:19:39 PM

I'm glad I had a buy order at 555. I'm using my "rule of thirds" and "superstitious numbers" hypotheses for trading.

Ha ha. I had mine at the lowest point possible (around 400 EUR) and got my orders filled. Now I regret dumping them again for very little profit. My profit could have been... er well a LOT better

Bitcoin is c-r-a-z-y Cheesy

This cultist have to punish himself with this: https://www.youtube.com/watch?v=QH2-TGUlwu4 (the 10 hour version).

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: JorgeStolfi on May 27, 2014, 12:26:05 PM

Quote from: Cassius on May 27, 2014, 10:13:36 AM

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they? Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world. Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle. One big "advantage" of bitcoin is that law and police often cannot even tell whether a crime was committed.

Online dating in the 1990s. How did anyone survive that?

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: oda.krell on May 27, 2014, 12:15:41 PM

Sweet mother....

We're retracing through this dip at a remarkable speed.

Quote from: MaxwellsDemon on May 27, 2014, 12:16:04 PM

Quote from: kneim on May 27, 2014, 12:11:08 PM

Last block on blockchain.info is over 2 hours old. Is there a tread about this?

I'm seeing 302879 through 302881 which are less than 2 hours old... Nevertheless, it is odd to see 3 blocks in the space of 2 hours...

EDIT: This seems absolutely real, not a blockchain.info glitch. 3 blocks in the last 2 hours. Accordingly, the number of transactions in each of these blocks is unusually high, and two of them are scraping the 1 MB limit.

variance. Sometimes you have 2 blocks within seconds, other times you have no blocks for a few hours. Random is random.

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