Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29104.

jl2012

legendary

Activity: 1792

Merit: 1111

Quote from: Asrael999 on March 03, 2014, 03:20:36 AM

If they started using their customers money for anything other than customer transactions for the customer whose money it is , then that is co-mingling of funds, which is a breach of fiduciary duty.

Undoubtedly there is something criminal otherwise one couldn't have lost 20M USD.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: jl2012 on March 03, 2014, 03:17:15 AM

Quote from: Rampion on March 03, 2014, 03:06:03 AM

Quote from: N12 on March 03, 2014, 02:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers?

You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt.

He doesn't need dividend. Just by insider trading and arbitraging he would have earned a lot.

According to sturle they "didn't need" to run on fractional reserve as they did "so much money" in fees that they could have covered ANY hole caused by seizures, misappropriations and whatnot.

My reply: never underestimate greed and incompetence. Bad management can destroy the biggest company in the world.

yrtrnc

hero member

Activity: 605

Merit: 500

Let's see what happens at 599 Wink

Asrael999

hero member

Activity: 703

Merit: 502

How could they lose fiat? I understand they lost BTC due to transaction error, but fiat?
Did they have database unencrypted?
[/quote]

They may have used client's fiat to buy bitcoin or speculate. They don't care the hole in fiat anyway, as they could blame their bank / DHS / CoinLab
[/quote]

If they started using their customers money for anything other than customer transactions for the customer whose money it is , then that is co-mingling of funds, which is a breach of fiduciary duty.

jl2012

legendary

Activity: 1792

Merit: 1111

Quote from: Rampion on March 03, 2014, 03:06:03 AM

Quote from: N12 on March 03, 2014, 02:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers?

You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt.

He doesn't need dividend. Just by insider trading and arbitraging he would have earned a lot.

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: EuroTrash on March 03, 2014, 03:04:00 AM

Wow, I just woke up and saw those couple million dollars are scaring the shit out of the bears. Wow!

Yeah....I got squeezed out my short position.

Since this was all on the back of a 3 million (3K BTC) bidding chip on Bitfinex (routed through Stamp), I will not be going long however until $580 has proven itself as support.

This wasn't organic market forces. This was uncertain buyers or possibly shorters being squeezed out of their positions by big scary Bid wall.

Wisest thing for any small player to do right now is keep away. This isn't about 'the market', but about the whim of some whale.

Does he want Bitcoin to go higher, cos he just loves Bitcoin.....or cos he wants to take a dump a much higher prices?

F-bernanke

sr. member

Activity: 308

Merit: 250

Quote from: HairyMaclairy on March 03, 2014, 03:08:04 AM

On BFX if a market sell order triggers a stop loss which gets priority?

The marketsell i think.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

On BFX if a market sell order triggers a stop loss which gets priority?

jl2012

legendary

Activity: 1792

Merit: 1111

Quote from: Hlavax on March 03, 2014, 02:52:30 AM

Quote from: N12 on March 03, 2014, 02:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

How could they lose fiat? I understand they lost BTC due to transaction error, but fiat?
Did they have database unencrypted?

They may have used client's fiat to buy bitcoin or speculate. They don't care the hole in fiat anyway, as they could blame their bank / DHS / CoinLab

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: N12 on March 03, 2014, 02:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

The statement is a joke. How come they did not realize until a few days ago that there was a huge discrepancy between the money they were holding in their bank and the money deposited by their customers?

You all know this is BS and simply cannot happen. They knew very well they had less than they were supposed to, they just decided to run on fractional reserve and spent customers money to cover their own operational expenses. I wouldn't be surprised if Karpeles even cashed out dividends at some point while knowing the company was virtually bankrupt.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

EuroTrash

hero member

Activity: 728

Merit: 500

Wow, I just woke up and saw those couple million dollars are scaring the shit out of the bears. Wow!

CryptoFuture

full member

Activity: 181

Merit: 100

Diggit.io Admin

I've been in Bitcoin since 2011. My gut says the next bubble be brewin!*

*Speculation based 100% on nothing but gut feeling.

yrtrnc

hero member

Activity: 605

Merit: 500

Quote from: johnny211 on March 03, 2014, 02:53:38 AM

Quote from: Solarstorm75 on March 03, 2014, 02:52:57 AM

Just sell againt this wall and see it removed asap.

Doesnt seem like anyone is willing

It seems we are going; to da MOOON!

johnny211

full member

Activity: 170

Merit: 104

Quote from: Solarstorm75 on March 03, 2014, 02:52:57 AM

Just sell againt this wall and see it removed asap.

Doesnt seem like anyone is willing

Solarstorm75

member

Activity: 70

Merit: 10

Just sell againt this wall and see it removed asap.

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: Solarstorm75 on March 03, 2014, 02:47:51 AM

Quote from: gizmoh on March 03, 2014, 02:43:06 AM

3300 btc BID wall at 568, Whales are hungry Cheesy

This whale hasn't bought not a single Bitcoin until now. It's only price manipulation. Maybe he has put some ask's in the range from $580 to $600 for the sheeples to buy.

2k wall got eaten few hours ago, now new 3.3k wall at 567.21
Its not manipulation, as the walls have not been removed!
Poor bears in denial..

EDIT: wall moved up to 575 . he wants to eat coins

Hlavax

newbie

Activity: 4

Merit: 0

Quote from: N12 on March 03, 2014, 02:16:38 AM

Lose >99% BTC
Lose >40% fiat
Lose database along with customer identity data

Well, Emptygox couldn't possibly have done a much worse job than this.

How could they lose fiat? I understand they lost BTC due to transaction error, but fiat?
Did they have database unencrypted?

yrtrnc

hero member

Activity: 605

Merit: 500

Someone's having a laugh!

yrtrnc

hero member

Activity: 605

Merit: 500

Where'd the wall go?

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29104. (Read 26709821 times)