Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33370. (Read 26462745 times)
May 14, 2013, 03:54:52 PM
Gox probably gonna hit the pause-trade cooldown button.
May 14, 2013, 03:54:00 PM
Ok I stop looking for 30 minutes and guys crash the price?!
May 14, 2013, 03:52:06 PM
WEEEEEEEeeeeeeeeeeeEEEEEeeeeeeeeee!!!!!!!!!! 
May 14, 2013, 03:51:10 PM
- Ripple is centralized
- Ripple is no store of value - XRP's are controlled (and premined) by OpenCoin
- Ripple is debt based (you are not transferring assets like in BTC, you are transferring debt)
- Ripple implies that you trust a series of gateways, which is totally contrary at the core value of Bitcoin (no need to trust any third party)
1 and 2: They claim to change this soon.
3: Wrong, Ripples are the same as Bitcoins in that respect. They are not subject to any counterparty, and they have no underlying value besides a Ripple denomination with floating exchange rates.
4: This is only the case for any other currency except for Ripples within the Ripple system, and that includes Bitcoins same as Dollars. Which is why Ripple will kill Bitcoin if it is adopted significantly.
You guys need to learn a thing or two before teaching others, I keep reading all these misconceptions.
1 and 2: That will change? They may release the source code, but what are they doing with the XRP's they premined?
About debt: when you transfer your $ inside the Ripple system, your are just exchanging IOU's. And nothing stops a Ripple supernode (lol, I couldn't help myself) from issuing more IOU's than he can cover. It's just fake "paper" money again, in its digital form.
Personally I dislike Ripple and I hope it fails hard. I see it as an opportunistic way to profit from Bitcoin's genius idea, while spoiling it from its revolutionary proposals (one of them is mining, and there are many others).
I grant you that maybe I was overly optimistic we I said "neutral mid and long term". In other posts I also acknowledged that Ripple idea is clever, and it has the potential to undermine Bitcoin adoption. But frankly, I believe there will be a lot of people like you and me who will still see Ripples flaws, and will prefer to stay with Bitcoin - or with another superior cryptocurrency, which is not Ripple in any case.
May 14, 2013, 03:51:02 PM
Some sells and a new wall!
May 14, 2013, 03:49:49 PM
Whatever Court Order caused this is unlikely to be related to the Coinlab suit. Gox would have at least 30 days to reply after service and there's no way Coinlab would win a motion for an injunction against Gox before Gox had even submitted their Defense to the Court.
May 14, 2013, 03:46:47 PM
I don't think so. Dwolla isn't *that* important.
Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla.
There is probably something behind this that we aren't aware of. If it was an attempt to cut GOX off from the US they would do something on the banking level. More likely someone has found a way to launder money via a Dwolla connection.
Wait all. It's not Dwolla who got shut down, but MtGox in the US:
Quote
Due to recent court orders by the Department of Homeland Security and U.S. District Court for the District of Maryland seizing the account of Mutum Sigillum LLC (“Mt. Gox”), Dwolla is immediately no longer legally able to service Mutum Sigillum LLC’s account.
Well, they do have a federal court suit against them to the tune of tens of millions of dollars. Not so surprising really.
May 14, 2013, 03:44:13 PM
I don't think so. Dwolla isn't *that* important.
Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla.
There is probably something behind this that we aren't aware of. If it was an attempt to cut GOX off from the US they would do something on the banking level. More likely someone has found a way to launder money via a Dwolla connection.
Quote
Edit: the email in the post mentioned on last page seems to be manipulated. Edit2: Reducing OT.
May 14, 2013, 03:41:49 PM
I don't think so. Dwolla isn't *that* important.
Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla.
There is probably something behind this that we aren't aware of. If it was an attempt to cut GOX off from the US they would do something on the banking level. More likely someone has found a way to launder money via a Dwolla connection.
May 14, 2013, 03:39:36 PM
I don't think so. Dwolla isn't *that* important.
Dwolla isn't important, but if there's a Court Order that prevents Dwolla from interacting with Gox to US customers you can bet it will affect more than Dwolla.
May 14, 2013, 03:39:17 PM
- Ripple is centralized
- Ripple is no store of value - XRP's are controlled (and premined) by OpenCoin
- Ripple is debt based (you are not transferring assets like in BTC, you are transferring debt)
- Ripple implies that you trust a series of gateways, which is totally contrary at the core value of Bitcoin (no need to trust any third party)
1 and 2: They claim to change this soon.
3: Wrong, Ripples are the same as Bitcoins in that respect. They are not subject to any counterparty, and they have no underlying value besides a Ripple denomination with floating exchange rates.
4: This is only the case for any other currency except for Ripples within the Ripple system, and that includes Bitcoins same as Dollars. Which is why Ripple will kill Bitcoin if it is adopted significantly.
You guys need to learn a thing or two before teaching others, I keep reading all these misconceptions.
+1
but short term I think the Google Ventures news is bullish for both BTC and XRP.
While the Dwolla news is short term bearish.
We might see some action after all
May 14, 2013, 03:38:01 PM
Dwolla no longer allowed to do business with mtgox
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
Expect other US-based companies to make similar announcements soon.
And so it begins...
Panic time.
I don't think so. Dwolla isn't *that* important.
May 14, 2013, 03:36:30 PM
- Ripple is centralized
- Ripple is no store of value - XRP's are controlled (and premined) by OpenCoin
- Ripple is debt based (you are not transferring assets like in BTC, you are transferring debt)
- Ripple implies that you trust a series of gateways, which is totally contrary at the core value of Bitcoin (no need to trust any third party)
1 and 2: They claim to change this soon.
3: Wrong, Ripples are the same as Bitcoins in that respect. They are not subject to any counterparty, and they have no underlying value besides a Ripple denomination with floating exchange rates.
4: This is only the case for any other currency except for Ripples within the Ripple system, and that includes Bitcoins same as Dollars. Which is why Ripple will kill Bitcoin if it is adopted significantly.
You guys need to learn a thing or two before teaching others, I keep reading all these misconceptions.
May 14, 2013, 03:36:24 PM
I wonder what the Court Orders from DHS and the District Court of Maryland actually consist of.
May 14, 2013, 03:33:46 PM
Dwolla no longer allowed to do business with mtgox
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
Expect other US-based companies to make similar announcements soon.
And so it begins...
Panic time.
May 14, 2013, 03:33:42 PM
http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/
Is this a good news or bad news to Bitcoin?
Google Ventures has decided to invest in Ripple.
It is a good news because Ripple facilitates conversion between bitcoins and traditional currencies, which should aid mass adoption of Bitcoins.
Bad news because many people believe Ripple is Bitcoin 2.0 and threatens the existence of Bitcoin.
Is this a good news or bad news to Bitcoin?
Google Ventures has decided to invest in Ripple.
It is a good news because Ripple facilitates conversion between bitcoins and traditional currencies, which should aid mass adoption of Bitcoins.
Bad news because many people believe Ripple is Bitcoin 2.0 and threatens the existence of Bitcoin.
Ripple may be good for BTC in the short term, but neutral mid and long term. It's a just a p2p expression of the old banking system, with all his flaws that Bitcoin was designed to address:
- Ripple is centralized
- Ripple is no store of value - XRP's are controlled (and premined) by OpenCoin
- Ripple is debt based (you are not transferring assets like in BTC, you are transferring debt)
- Ripple implies that you trust a series of gateways, which is totally contrary at the core value of Bitcoin (no need to trust any third party)
You will see that all these points can be summed up in only one word: trust; the very first thing mentioned in the Bitcoin wiki, and the very thing that Bitcoin addresses.
May 14, 2013, 03:32:57 PM
Dwolla no longer allowed to do business with mtgox
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
Expect other US-based companies to make similar announcements soon.
And so it begins...
May 14, 2013, 03:28:51 PM
Dwolla no longer allowed to do business with mtgox
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
Expect other US-based companies to make similar announcements soon.
May 14, 2013, 03:26:01 PM
http://gigaom.com/2013/05/14/google-ventures-invests-in-opencoin-the-firm-behind-bitcoin-exchange-ripple/
Is this a good news or bad news to Bitcoin?
Google Ventures has decided to invest in Ripple.
Is this a good news or bad news to Bitcoin?
Google Ventures has decided to invest in Ripple.
oh, shit.
Quick, let's all go pump and dump XRPs!
ok ok apart from the jokes: thanks for pointing this out. I think short term such news is bullish for both BTCs and XRPs.
In fact I was trying to understand how come XRP/BTC exchange rate had gone from ca. 10000 to ca. 8500 today.
May 14, 2013, 03:24:56 PM
Dwolla no longer allowed to do business with mtgox
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
https://bitcointalksearch.org/topic/mtgox-account-in-the-usa-has-been-seized-by-the-dhs-205370
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