Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29798.

stompix

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Blackjack.fun

Quote from: N12 on February 12, 2014, 07:15:06 AM

Here is a little contrarian hope for those of you who feel like sitting ducks:

http://www.latimes.com/business/hiltzik/la-fi-mh-bitcoin-a-new-rip-20140211,0,1065852.story
http://www.bloomberg.com/news/2014-02-11/the-glitch-that-will-kill-bitcoin.html

This one time, Bitcoin is dying for sure.

Usually when you show up trolling like that things start getting better and better.

Rampion

legendary

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Quote from: N12 on February 12, 2014, 07:15:06 AM

Here is a little contrarian hope for those of you who feel like sitting ducks:

http://www.latimes.com/business/hiltzik/la-fi-mh-bitcoin-a-new-rip-20140211,0,1065852.story
http://www.bloomberg.com/news/2014-02-11/the-glitch-that-will-kill-bitcoin.html

This one time, Bitcoin is dying for sure. Cheesy

So... This time is different?

creekbore

full member

Activity: 210

Merit: 100

Lazy, cynical and insolent since 1968

Quote from: gizmoh on February 12, 2014, 07:26:28 AM

Quote from: ?? on ??

EDIT:

Quote

They are sitting in slovenia and have bank account with slovenian banks.

Unicredit Slovenia is under Unicredit group - Italian, and they are one of the biggest in Europe.
https://www.unicreditgroup.eu/en.html

Its an independent entity from the italian group, but that's not really an issue.
Also their UK address, is a mail drop. Go figure what EU laws they want to evade? But their real office are still in slovenia.

Not a mail drop...a "brass plate".

Most international companies operating in the UK have their 'offices' in Luxembourg or some other place where they can exploit tax loopholes. This is not unusual.

joburgtaxi

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gizmoh

legendary

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Quote from: MoreFun on February 12, 2014, 07:21:46 AM

Every few minutes (5-15) there is a 20-50 BTC dump on gox for last 2-3 days. Someone must be unloading quite a lot of coins.

Fun: Mark made a deal with FBI to sell their coins in regard for info and freedom.

F*king Willy changed his mind and dumping twice as hard as he was buying. My IOU goxcoin is now worth half! Cry

N12

donator

Activity: 1610

Merit: 1010

Wall street will likely take over the exchange business, it's just a matter of time until either an ETF is approved or a US based bitcoin exchange goes through all the legal crap. And then, finally, will we be able to trade on professional platforms (be it regular broker or a special exchange) that don't rip you off for shit service, and that are unlikely to lose your money.

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: ?? on ??

EDIT:

Quote

They are sitting in slovenia and have bank account with slovenian banks.

Unicredit Slovenia is under Unicredit group - Italian, and they are one of the biggest in Europe.
https://www.unicreditgroup.eu/en.html

Its an independent entity from the italian group, but that's not really an issue.
Also their UK address, is a mail drop. Go figure what EU laws they want to evade? But their real office are still in slovenia.

MoreFun

legendary

Activity: 1008

Merit: 1003

WePower.red

Every few minutes (5-15) there is a 20-50 BTC dump on gox for last 2-3 days. Someone must be unloading quite a lot of coins.

Fun: Mark made a deal with FBI to sell their coins in regard for info and freedom.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: modrobert on February 12, 2014, 06:53:33 AM

After reading post after post with gox cursing, and then bitstamp go and do the same thing. Roll Eyes

Not really. Here, have a few differences:

* Total shutdown: Gox is, more or less, completely closed off as of now, at least for people requiring USD wires. Bitstamp still processes wires within 2 days on average, so fiat withdrawals continue unhindered, even when BTC withdrawals don't.

* Maturity of reaction: if you read their news item on the matter, you will see how different they handle this matter -- Gox: we're innocent! Not our fault! Devs, fix it! vs. Stamp: we're updating our software to harden it against the attack.

* Most importantly: from the publicly available knowledge, there's good reasons to believe gox lost actual user btc funds because there's evidence that they tracked success of transactions based on ID alone. We'll come back to this if it turns out stamp lost funds as well, but I highly doubt it.

tl;dr All current exchanges are run by amateurs I'd say, but gox is run by incompetent amateurs.

N12

donator

Activity: 1610

Merit: 1010

Excerpt LA Times:

Quote

The suspensions may be only growing pains, but if they're seen to be serious enough, bitcoin growth may end. And if other flaws in the system become equally troublesome obstructions, bitcoins will be over.

macsga

legendary

Activity: 1484

Merit: 1002

Strange, yet attractive.

I believe it will be fixed - BTC is an evolving system and thus everything is fixable. As previously stated I don't like Karpeles but he managed to reveal some ugly truth out of his crappy withdrawals. I really hope you guys don't force yourselves to panic selling and then blame your bad mood about it. The proper thing to do is either panic HODL, or panic BUY!

N12

donator

Activity: 1610

Merit: 1010

Here is a little contrarian hope for those of you who feel like sitting ducks:

http://www.latimes.com/business/hiltzik/la-fi-mh-bitcoin-a-new-rip-20140211,0,1065852.story
http://www.bloomberg.com/news/2014-02-11/the-glitch-that-will-kill-bitcoin.html

This one time, Bitcoin is dying for sure. Cheesy

gizmoh

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Activity: 1428

Merit: 1000

Quote from: pinky on February 12, 2014, 06:58:17 AM

Quote from: gizmoh on February 12, 2014, 06:45:24 AM

As Bitstamp battles against these attacks, it’s also worth noting that the Slovenian exchange is not listed as a money services business with FINCEN, the U.S. agency that registers money transmitters — even though it accepts US customers.

Frankly, i'm more worried about this issue highlighted above. Where to store fiat when coins becomes cheap..?

I wouldn't called it Slovenian anymore, because they moved their head office to London where are registered as LTD.

But you are very correct about not being registered with FINCEN - I predict that this will be huge problems in the future as FBI might want to arrest CEO of Bitstamp, I am pretty sure they will find connections to money laundering.

I remember e-gold was registered in Nevis , just to evade some laws..
They are sitting in slovenia and have bank account with slovenian banks.

stompix

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Blackjack.fun

Quote from: gizmoh on February 12, 2014, 07:05:56 AM

Quote from: ?? on ??

Quote from: gizmoh on February 12, 2014, 06:45:24 AM

As Bitstamp battles against these attacks, it’s also worth noting that the Slovenian exchange is not listed as a money services business with FINCEN, the U.S. agency that registers money transmitters — even though it accepts US customers.

Frankly, i'm more worried about this issue highlighted above. Where to store fiat when coins becomes cheap..?

And your point here is?

My point here is Bitstamp should register with FinCen even if they don't have us bank accounts, just to be on the safe side.
Also they are allowing purchase of Ripple.. Let me quote gox puppet 'sturle' on this:
Bitstamp is in obvious violation of EU regulations, and could be closed any time. (Issuing Ripple USD, which is electronic money according to Directive 2009/110/EC, without proper authorisation.)

I wonder if the guys behind gox really want to go down while dragging everyone they can down to hell...

gizmoh

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Merit: 1000

Quote from: ?? on ??

Quote from: gizmoh on February 12, 2014, 06:45:24 AM

As Bitstamp battles against these attacks, it’s also worth noting that the Slovenian exchange is not listed as a money services business with FINCEN, the U.S. agency that registers money transmitters — even though it accepts US customers.

Frankly, i'm more worried about this issue highlighted above. Where to store fiat when coins becomes cheap..?

And your point here is?

My point here is Bitstamp should register with FinCen even if they don't have US bank accounts, just to be on the safe side.

Also they are allowing purchase of Ripple.. Let me quote gox puppet 'sturle' on this:

Bitstamp is in obvious violation of EU regulations, and could be closed any time. (Issuing Ripple USD, which is electronic money according to Directive 2009/110/EC, without proper authorisation.)

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: ?? on ??

Quote from: gizmoh on February 12, 2014, 06:45:24 AM

As Bitstamp battles against these attacks, it’s also worth noting that the Slovenian exchange is not listed as a money services business with FINCEN, the U.S. agency that registers money transmitters — even though it accepts US customers.

Frankly, i'm more worried about this issue highlighted above. Where to store fiat when coins becomes cheap..?

And your point here is?

The point is that Bitstamp might be forced to let go of it's Us customers if they don't want to get into trouble.
Or register to avoid another mess.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Done with Gox
Explanation

pinky

hero member

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Merit: 500

Quote from: gizmoh on February 12, 2014, 06:45:24 AM

As Bitstamp battles against these attacks, it’s also worth noting that the Slovenian exchange is not listed as a money services business with FINCEN, the U.S. agency that registers money transmitters — even though it accepts US customers.

Frankly, i'm more worried about this issue highlighted above. Where to store fiat when coins becomes cheap..?

I wouldn't called it Slovenian anymore, because they moved their head office to London where are registered as LTD.

But you are very correct about not being registered with FINCEN - I predict that this will be huge problems in the future as FBI might want to arrest CEO of Bitstamp, I am pretty sure they will find connections to money laundering.

modrobert

sr. member

Activity: 386

Merit: 334

-"When the going gets weird, the weird turn pro."

After reading post after post with gox cursing, and then bitstamp go and do the same thing. Roll Eyes

fonzie

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Moderator

@gizmoh

Thanks for the update, you´re work is really appreciated.

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