Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28755.

chessnut

legendary

Activity: 924

Merit: 1001

Quote from: bamsbamx on March 23, 2014, 06:47:26 AM

I have watched that the HODL word is so much used in this forum. I have searched in almost the whole internet and didn't found anything about its meaning. So I registered exclusively to ask this:

What the f+ck does HODL mean? Huh

.... It means HOLD. some people dont want search engines to see phrase trends, so they deliberately mis-spell the word.

same for shotr - short.

bamsbamx

newbie

Activity: 18

Merit: 0

I have watched that the HODL word is so much used in this forum. I have searched in almost the whole internet and didn't found anything about its meaning. So I registered exclusively to ask this:

What the f+ck does HODL mean? Huh

chessnut

legendary

Activity: 924

Merit: 1001

2.5k market sell on stamp...... the market is holding strong.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Huobi is back on line. Let's see whether the prices will realign.

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Quote from: QuestionAuthority on March 23, 2014, 03:15:16 AM

This thread is cool to watch. Because someone is continuously posting to it you can see the earth rotating around the sun as the people that participate in this thread slowly fade from country to country.

Yeah. I sometimes try to guess posters' locations by the times they post.

I realize though, that lifestyle can have as important an influence as location.

Not everyone is awake during daylight hours. Some people post from their employers' computers while some post at home.

Meanwhile, BTC keeps going 24/7.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Interestingly, the price is now rising in the non-Chinese markets, but flat on OKCoin.

It would seem that Huobi is the main "terminal" for arbitrage into all the Chinese markets.

Perhaps someone outside China is trying to pump up the price, and does not want to waste money into dragging Huobi along?

miningnew

hero member

Activity: 854

Merit: 501

Quote from: JorgeStolfi on March 23, 2014, 04:05:39 AM

Huobi has been offline for "DDOS attacks" since 1pm China time; the note on their site said they would be back by 3 pm; it is now 5pm in China...

Dear customers
all our funds are gone.

Sorry

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Huobi has been offline for "DDOS attacks" since 1pm China time; the note on their site said they would be back by 3 pm; it is now 5pm in China...

JayJuanGee

legendary

Activity: 3934

Merit: 11405

Self-Custody is a right. Say no to"Non-custodial"

Quote from: schizoid on March 23, 2014, 02:57:03 AM

Quote from: JayJuanGee on March 23, 2014, 02:43:43 AM

Quote from: schizoid on March 23, 2014, 02:33:00 AM

On March 23, 2013 bitcoin was $70, so it's only up 700% YoY.

Part of my point was that the joker, Podyx, was being imprecise in some parts and then precise in other parts as part of the joke.. .so when we try to call him on the technicalities or to quibble about the various technical mistakes, then we become part of the joke.. b/c we did NOT get it.. he was exaggerating to make various humorous points.. Whether we appreciate Podyx's humor or not.

I got the joke. I just decided to do the math because I'm bored.

I figured that you got the joke... b/c you came in to the conversation later.. and did not initially raise it... but only brought it up after the further posts...

Podyx is probably laughing his ass off to get such an effect from a silly ass picture...

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

This thread is cool to watch. Because someone is continuously posting to it you can see the earth rotating around the sun as the people that participate in this thread slowly fade from country to country.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: cbutters on March 23, 2014, 02:31:08 AM

Yes, but then those coins are sold or traded or used to purchase items, they always eventually make their way back into the regular economy or are lost. Just like 99.9% of US dollars have traces of drugs on them. If you don't think that every single paper dollar in existence hasn't been used or will be used for some sort of shady transaction, you are very mistaken. Just because people steal bitcoin doesn't mean that bitcoin shouldn't be used.

The problem (actually, just an aggravant to the main problem) is not coins that have passed through the hands of criminals, but coins that are STILL in the hands of criminals.

Quote

Criminals should be stopped and prosecuted, not the currency they use.

Agree 100%, but very few of those criminals seem to be prosecuted. (I know of one case in China,, are there any others?) The vast majority of the "thieves" remained unknown and kept their booty.

Quote

I doubt a large percentage of these criminals are just hoarding the bitcoin, they are probably selling it, buying things, and probably losing their private keys to their shady partners

Is that so? If a thief spends a few bitcents of his booty now to buy a pizza, the payment will be visible and the police could catch him by following the delivery boy. As long as he leaves the coins untouched, he cannot be traced through them, and they cannot be taken from him. If he waits for a few yers he may even be beyond the reach of the law.

And the problem does not get solved if he has to give the keys to other criminals like him.

EDIT: furtehrmore, 600,000 BTC are not easily spent or sold...

chessnut

legendary

Activity: 924

Merit: 1001

is Huobi closed? I havent seen the price move for hours.

this is the quietest day I have ever seen.

schizoid

member

Activity: 73

Merit: 10

Quote from: JayJuanGee on March 23, 2014, 02:43:43 AM

Quote from: schizoid on March 23, 2014, 02:33:00 AM

On March 23, 2013 bitcoin was $70, so it's only up 700% YoY.

Part of my point was that the joker, Podyx, was being imprecise in some parts and then precise in other parts as part of the joke.. .so when we try to call him on the technicalities or to quibble about the various technical mistakes, then we become part of the joke.. b/c we did NOT get it.. he was exaggerating to make various humorous points.. Whether we appreciate Podyx's humor or not.

I got the joke. I just decided to do the math because I'm bored.

JayJuanGee

legendary

Activity: 3934

Merit: 11405

Self-Custody is a right. Say no to"Non-custodial"

Quote from: schizoid on March 23, 2014, 02:33:00 AM

On March 23, 2013 bitcoin was $70, so it's only up 700% YoY.

Part of my point was that the joker, Podyx, was being imprecise in some parts and then precise in other parts as part of the joke.. .so when we try to call him on the technicalities or to quibble about the various technical mistakes, then we become part of the joke.. b/c we did NOT get it.. he was exaggerating to make various humorous points.. Whether we appreciate Podyx's humor or not.

JayJuanGee

legendary

Activity: 3934

Merit: 11405

Self-Custody is a right. Say no to"Non-custodial"

Quote from: JorgeStolfi on March 23, 2014, 02:17:01 AM

Quote from: JayJuanGee on March 23, 2014, 01:33:17 AM

I have seen some of your other posts on this particular topic, and your thesis in this regard seems ill-founded. There may be some truth that some less than savory characters may have been first adopters of bitcoin, and potentially these less than savory characters would profit the most if they are able to HODL their BTC while the price continues to rise.

The early adopters are not necessarily "scumbags", just that I do not see why the world would agree giving them such a large slice of their wealth.

But there are undoubtedly many bad guys among them. The MtGOX thief alone got hold of 600,000 BTC, which is 5% of all existing bitcoins -- hence 2.5% of all the money in the world in that extreme scenario. The SilkRoad operator is claiming 173,000 BTC that were seized by the FBI as being his property. There have been already a couple dozen smaller versions and variants of MtGOX, where thieves and scammers got away with various amounts of BTC, proably adding to hundreds of thousands. (The BitcoinRain "theft" here in Brazil, for example, slurped up over 15,000 BTC from its investors.) It seems likely that 10% or more of all existing bitcoins were acquired by criminal means.

You are speculating again a lot with your facts, b/c the story about the missing bitcoins is still developing regarding GOX. But let's assume for the sake of argument that 10% of bitcoins, at some point was acquired by criminals. Does this assumption also mean that they are still holding those 10%, or have they already liquidated all or some of those holdings? I would imagine that criminals do want to profit at some point, while they are still living, so just holding onto bitcoins is NOT going to do them any good. But even if they do hold the bitcoins, so what? Are they going to manipulate the bitcoin market with that 10%..? What is the fear exactly? Holding 10% does NOT give them any special power over bitcoin, except in a world where you are speculating about some plot that they may have to undermine bitcoin rather than to merely make some money off of bitcoin.

If the thieves already got away with the money, then so what? We cannot catch them, they have crossed the border to mexico.. or whereever... and they are free... Same with dollars.. if the bank robbers got away, and they are living in the bahamas and sipping Pina colatas, then what can you do, you do not have the evidence... that does not undermine bitcoin, if they already got away.

schizoid

member

Activity: 73

Merit: 10

On March 23, 2013 bitcoin was $70, so it's only up 700% YoY.

cbutters

sr. member

Activity: 294

Merit: 250

Quote from: JorgeStolfi on March 23, 2014, 02:17:01 AM

Quote from: JayJuanGee on March 23, 2014, 01:33:17 AM

I have seen some of your other posts on this particular topic, and your thesis in this regard seems ill-founded. There may be some truth that some less than savory characters may have been first adopters of bitcoin, and potentially these less than savory characters would profit the most if they are able to HODL their BTC while the price continues to rise.

The early adopters are not necessarily "scumbags", just that I do not see why the world would agree giving them such a large slice of their wealth.

But there are undoubtedly many bad guys among them. The MtGOX thief alone got hold of 600,000 BTC, which is 5% of all existing bitcoins -- hence 2.5% of all the money in the world in that extreme scenario. The SilkRoad operator is claiming 173,000 BTC that were seized by the FBI as being his property. There have been already a couple dozen smaller versions and variants of MtGOX, where thieves and scammers got away with various amounts of BTC, proably adding to hundreds of thousands. (The BitcoinRain "theft" here in Brazil, for example, slurped up over 15,000 BTC from its investors.) It seems likely that 10% or more of all existing bitcoins were acquired by criminal means.

Yes, but then those coins are sold or traded or used to purchase items, they always eventually make their way back into the regular economy or are lost. Just like 99.9% of US dollars have traces of drugs on them. If you don't think that every single paper dollar in existence hasn't been used or will be used for some sort of shady transaction, you are very mistaken. Just because people steal bitcoin doesn't mean that bitcoin shouldn't be used. Criminals should be stopped and prosecuted, not the currency they use. All currencies will be susceptible to monetary transactions that may not be legitimate, and I doubt a large percentage of these criminals are just hoarding the bitcoin, they are probably selling it, buying things, and probably losing their private keys to their shady partners / lost when things get ugly and they end up missing / dead. In the long run, its a non-issue IMO.

JayJuanGee

legendary

Activity: 3934

Merit: 11405

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ?? on ??

Semantics, the term "this year" means just that (2014) it does not mean a year period between March to March. So as we read the text on the picture that says this year we should understand.

You are right about the picture saying "this year" which is ambiguous and accordingly needs to be understood in context. Also, the text of the picture seems to be an exaggeration and quite less than specific b/c it does NOT exactly describe from when it is measuring. Nonetheless, in order to understand the overall point of the picture, then it would need to be read as within the past year... b/c if you look at only this calendar year, then you get something like $720 to $560 - which is nearly negative 30%.... .. not an increase, but a decrease

Then in March of 2013... BTC price went from $30 to $100, so depending upon which measuring point is going to give varying statistics. I doubt that the text of the picture was attempting to be accurate in that regard, and certainly, I would have phrased it differently had I been the author. But the nature of a joke sometimes is to exaggerate and to make fun of specifics... like to give such exact percentage numbers without providing an exact measuring time (and hour and minute)

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

I don't understand why people hate corporations more than governments. Corporations don't force you to do business with them. Governments do. Most of the evil done by corporations is enabled or facilitated by the governments anyway.

It shouldn't matter if BTC is concentrated in a few hands with a stable money supply. It doesn't do the holders any good unless they spend it and if they do, they don't have it anymore. The people who own it now and in the future are the people who value it the most, the people willing to pay the price it takes to get it and pay the opportunity costs of holding it.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: JayJuanGee on March 23, 2014, 01:33:17 AM

I have seen some of your other posts on this particular topic, and your thesis in this regard seems ill-founded. There may be some truth that some less than savory characters may have been first adopters of bitcoin, and potentially these less than savory characters would profit the most if they are able to HODL their BTC while the price continues to rise.

The early adopters are not necessarily "scumbags", just that I do not see why the world would agree giving them such a large slice of their wealth.

But there are undoubtedly many bad guys among them. The MtGOX thief alone got hold of 600,000 BTC, which is 5% of all existing bitcoins -- hence 2.5% of all the money in the world in that extreme scenario. The SilkRoad operator is claiming 173,000 BTC that were seized by the FBI as being his property. There have been already a couple dozen smaller versions and variants of MtGOX, where thieves and scammers got away with various amounts of BTC, proably adding to hundreds of thousands. (The BitcoinRain "theft" here in Brazil, for example, slurped up over 15,000 BTC from its investors.) It seems likely that 10% or more of all existing bitcoins were acquired by criminal means.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28755. (Read 26619954 times)