All posts made by calmindifference in Bitcointalk.org's Wall Observer thread
1.
Post 6292096 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.39h):
Bitcoin is easier to secure than any other exchange medium in the world.
Compared to other forms of theft, stealing bitcoins is actually very easy, very safe for the thief, and extremely lucrative.
Go on then lets see you do it if it's actually very easy and safe
2.
Post 6359736 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.39h):
Are we at "Told you so?"
This is when we are supposed to be buying then right?
IMO we're definitely at Step 15, or maybe between 14 and 15.
Hate to say it but it could be we are at 9, and 8 was on April 11
3.
Post 6386005 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.40h):
Trying to find some positive news to counter this, but there is none. The only positive spin is that china uncertainty may soon be over, but how far will btc fall until then. Bear in mind now this lack of clarity must be deterring to new investment money. Conclusion is it will get worse before it gets better
4.
Post 6394024 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.40h):
How does a hypothetical merger of any hobbled chinese exchange with the basket case of gox help?
Will chinese government allow mainlanders to transfer money to that? Highly implausible. Time to look reality in the face.
5.
Post 6406599 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.40h):
There may be a turnaround at or below 200$.
So there's still enough space to the downside, imho.
First i think that graph looks real bad but then i realize that whole downfall is caused by MtGox and China fud. That gives me hope for the future.
China and Mt Gox aren't over yet, they both have some way to run.
6.
Post 6740803 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.44h):
This rocket can't go anywhere because there is no fiat to take it anywhere. But you guys can keep holding and watching this boring crap. Good luck with that.
Fiat is trickling, not flooding in. It's not a rocket, it's a Zimmer frame. But it might finally be heading in the right direction.
The question is can the fiat trickle cover the proportion of 4000+ BTC mined daily that are sold
7.
Post 6760805 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.44h):
Also this chart seems to say that the bitcoin system currently costs 30 USD per transaction:
https://blockchain.info/charts/cost-per-transactionThe cost of running the system is currently hidden in the inflation caused by mining, but in the long run will have to be paid by users as transaction fees. If the numbers above are correct, bitcoin will be inviable for payments below 1000 USD.
It's an compelling argument on the face of it, but the question is compared to what?
What is the transaction and system maintenance cost of a USD/GBP/EUR fiat transfer?
8.
Post 6781855 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.45h):
beware, last time volume was this low was March 15
9.
Post 6804331 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.45h):
The demise of the USD and the probable fall of the Euro, Pound and Yen as well will make Bitcoin look very appealing
You could be waiting a long time for that to materialise
10.
Post 6810560 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.45h):
Credit card eaten at an ATM whilst on holiday ruining entire trip? Hence:bitcoin.
Hate to say it but right now bitcoin isnt going to help with that. Maybe in a few years if bitcoin gains greater adoption.
11.
Post 6834564 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.45h):
A few big early morning pumps and following that back to anaemic volume, no cause for celebration
12.
Post 6841422 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.45h):
Anyone know if the bitstamp thingis real and should we be worried?
It's the first plausible explanation for today's rally. The lesson of MTGOX is if you're going to panic, panic early.
13.
Post 6880931 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.46h):
Of interest, from alt-markets blog:
If the Chinese yuan is brought into the SDR basket next year, if the BRICS enter into a conjured economic war with the West, and if the dollar is toppled as the world reserve, there will be nothing left in terms of fiscal structure in the way of a global currency system. If the public does not remove the globalist edifice by force, the IMF and the BIS will then achieve their dream the complete dissolution of economic sovereignty, and the acceptance by the masses of global financial governance. The elites dont want to hide behind the curtain anymore. They want recognition. They want to be worshiped. And, it all begins with the secret buyout of America, the implosion of our debt markets, and the annihilation of our way of life.
Black swan rising? Bullish.
How does he know, did he ask them?
14.
Post 6893866 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.46h):
Premined doesn't automatically mean scam though. Ripple has a different vision and idea, and I could see it being used between banks just because of the corporate background. It is an interesting project. I would never buy it, but I actually own about 5k xrp (which is nothing) from running BOINIC on a spare computer.
Not necessarily a scam, but if the premine falls > 50% in the hands of a single individual then it's a huge risk to other investors. BTC is at lower risk due to only 10% under control of Satoshi and 7% under control of gox "hackers"
15.
Post 6900330 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.46h):
Regarding Bitstamp issues - there hasn't been widespread confirmation that this is happening, and the news materialising on a Friday afternoon (GMT) just before a bank holiday from a freshly created reddit accounts adds to the suspicions. If Bitstamp had reasonable grounds for concern why would they allow the BTC transfer but not the fiat? It could just be an isolated case or some fabricated FUD. Although unlike the traditional FUD this would boost the BTC price.
16.
Post 6925971 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.46h):
Is the Bitstamp (585) - BTC-E (568) divergence telling us something we need to know?
17.
Post 6932016 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.46h):
http://willyreport.wordpress.com/So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this is why. Not Chinese investors, not the Silkroad bust these events may have contributed, but they certainly were not the main reason. But more on that later.
lol
If you bought BTC at > 130 USD then you were swindled.
18.
Post 6933439 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.47h):
http://willyreport.wordpress.com/So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this is why. Not Chinese investors, not the Silkroad bust these events may have contributed, but they certainly were not the main reason. But more on that later.
lol
Not my words just a copy paste but...
"Just a quick note... I've built quite a few systems, and at times I build the administrating function into the customer function.
It's hard to explain and hard to give an example... but imagine I build an exchange and incur fees in bitcoin, say 1%. The way I'd run my company finances is to build an admin account and with every bitcoin transaction, 1% goes to that account. This account is then set up on the exchange to sell at batch periods a certain amount of the bitcoin that I want to have in dollars to pay for company expenses.
Instead of taking my bitcoin to bitstamp and selling it there, or putting my bitcoin in a 'IkmoIkmo' account and selling it through there (of which 1% would recurringly go back to the account), I'd build it into the system using a customer account with some high ID and privileges like having 0 fees.
Now I'm not saying there's no inside job or that it isn't fishy. What I am saying is that I've been programming for a decade and I can easily see how a solo-engineer iterating on a flawed trading engine would use crappy and fishy accounts like these to do things that are otherwise completely normal and legal like having a company account sell bitcoin fees, or batching transactions of actual user-activity under one account-ID, or working with other exchanges to share liquidity and e.g. letting BTC-E sell coin to the Mt.Gox orderbook under a certain id for 0 fees, in exchange for the same service at BTC-E, thereby sharing the load and creating a redundant system (which is nice), etc etc.
In other words, it's weird, it's fishy, it's Mt. Gox, but it's not proof of some kind of fraudulent trading in and of itself. It can mean a whole lot of things and I'm happy to see more information come out."
If they were selling BTC trade fee profits, it would put small downward pressure on the price not send it 10x upwards.
19.
Post 6973312 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.47h):
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. And this goes on every year, non stop. You obviously have no clue what you're talking about. Credit cards basically have their private keys printed on the front of the card. Every time you use a credit card you are at risk of having it stolen. Bitcoin actually reduces fraud. You can purchase anything from anywhere, and not ever risk your private key being taken during the purchase. A merchant can accept bitcoin from any customer throughout the world and never have to worry about chargebacks.
Sorry, I can't handle your idiotic comments anymore. Welcome to my ignore list.
Indeed. US$ 11 billion was lost in credit card fraud last year. To that you can probably add ten times that spent on fraud prevention.
It's about proportions not absolute values.
20.
Post 6997899 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.48h):
http://www.bitcoininfopreneur.com/When you see stuff like this, it's a signal to GTFO
21.
Post 7076830 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.49h):
5pm pump, 7pm dump
22.
Post 7113134 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.50h):
Total sum of active swaps: 22,174,550.40 USD
Bull, bear or trader. This is not going to end up good
Somebody somewhere is going to benefit
23.
Post 7123984 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.50h):
It's not the first time blockchain.info has been down for a prolonged period. While they have awesome UI and reports, it seems like their stability and disaster recovery is letting them down. Not a good sign for the bitcoin ecosystem if the flagship website can't be relied upon especially in the era of distributed cloud based systems.
24.
Post 7124600 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.50h):
I control the private keys of my blockchain.info hot wallet and i don't have a big part of my bitcoins in this wallet. But i am not sure it is the case of 1.5 million users. I am sure a lot of them are not able to get their bitcoins if the site is down.
Exactly - and even if they did obtain their private keys, how many would find it straightforward to use bitcoin-qt.exe command line API or run the gauntlet with some other wallet app.
25.
Post 7144316 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.50h):
26.
Post 7277589 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.52h):
massacre on the front lines
27.
Post 7279486 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.52h):
If 29k can do this, imagine what 200k of mtgox will do
28.
Post 7279623 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.52h):
400s-500s for the forseeable
29.
Post 7290570 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.52h):
Now Bitcoin isn't trustless anymore. That's unfortunate.
Yeah true, so much true now sodl and gtfo, go play with wow gold.
You are agressive, your life must sucks, I am sorry for you, I hope you will do better in the future.
Oh I'm sorry did I scared you, I'm sorry I didn't mean to scare you, I'm not aggressive in nature, sorry again. So this is your 1st 51% incident is that true?
That's not because it's not the first time that it's not very serious. Peter Todd is worry too:
http://www.reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/Bitcoin cannot grow worldwide if its faith depend on the hypothetical good behavior of some human beings, the stakes are too high to afford to trust somebody.
What surprises me is that 50% of this well known dev's stash comes to only 5 figures
30.
Post 7309951 (copy this link) (by calmindifference) (scraped on 2020-04-04_Sat_12.53h):
Sub 500 is on the cards by next week.
