I thought of an interesting strategy that Gox can employ.
Provided they still have a lot of customer dollars that they refuse to pay, they can use them to buy BTC on other exchanges and sell at their own. That's a huge profit.
Or supplement this strategy with induced panic dumping like today. That's a lot cheaper than dumping their own or non-existent coins.
WTF happened at Kraken EUR/BTC???
Thin orderbook has happened
Short squeeze most likely.
I agree. But the general infrastructure is robust: excessive measures by any single exchange hurt that exchange more than anything, and therefore the competition keeps them at check.
My "permabullness" has lasted for exactly 50 days now. Before that I was a bear for 97 days, almost twice as long!
Problem is that Bitstamp are the only large exchange that I don't think are operating a fractional reserve Bitcoin operation. Bitstamp has always required 3 confirmations before any BTC transaction is verified.
Both Bitfinex and BTC-E have credited transactions before a single confirmation in the block chain. I say it is likely that both have been hacked and robbed. The $100 flash crash on both these exchanges is certainly an indication that something very amiss has affected them both.
In short, I trust Bitstamp as a safe place to have funds lying around but think everywhere else is dodgy as fuck.
(Bold) When?
(Bold) When?
Many times during Nov 2013 when I was using them for Litecoins via sending BTC over to my account there.
Bitfinex also credited transactions super fast, after only 1 confirmation on many occasions for me.
After the 'double spending' news hit, both these exchanges really started to drag their heels on transactions, keeping only a minimal amount of BTC in their 'hot wallets'. I waited 8 hours on a Bitfinex BTC transaction from exchange to my cold wallet to carryout as their 'hot wallet' was empty.
Don't really know what you're talking about, been trading at BTC-e since 2012 and BTC deposits always took 3 confirms for me to be credited.
Largeish hidden buy order on Bitfinex @475 keeping the market up. It just sold me 350 btc. I wonder how much more its willing to sell me?
I'm confused. If it's a buy order, how can it sell anything to you?
Saw the edit, nvm
Bears are really weak these days
lol
Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
Be glorious, our free,
Age-old union of brotherly peoples,
Ancestor given wisdom of the people!
Glorious, country! We are proud of you!
This is from national anthem of Russia.
If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed. Bitcoin could re-emerge with new code but it will be a reset with different players. It will be a race to buy back in to the new bitcoin. Your investing decisions today would be irrelevant.
no way
if we ever "reset" it will be back to a checkpoint
you have no idea how permanent the blockchain will be dude it will last as long as we need it too
Resetting back to a checkpoint does not solve the fundamental problem of now everyone knows everyone else's private keys and there is no way to distinguish between the owners
That's why we must foresee any possible EC weaknesses.
We already know it's theoretically vulnerable to quantum PCs, so another cryptosystem must be allowed into Bitcoin way before an attack is feasible.
Are we sure it was a dump? I doubt anyone would dump it down to 2$, he could slowly sell it for much more. It was probably margin call.
I think it was a dump that triggered massive stop-losses and margin calls.
Welcome to my ignore list. Idiot.
Did you know: the English suffix "-ant" (like the far more common suffix "-er") is attached to a verb to signify a person who does the corresponding action. Thus, for example, "to claim" --> "claimant", "to defend" --> "defendant", "to protest" --> "protestant", etc.. So, beware: every time you click on the "ignore" button, you become more ignorant.
That was hilarious, thank you
Am I the only one noticing substantial hidden buy orders on Bitfinex being sold into? More than 1k bought that way as of now.
Am I the only one noticing substantial hidden buy orders on Bitfinex being sold into? More than 1k bought that way as of now.
+1.
At 363.73$... more than 2k for sure.
See it. It's interesting to me, what's the point? Does that mean this buyer can't buy OTC for some reason?
Meanwhile,
the total amount of BTC swaps (read: shorts) at Bitfinex has reached a historic high of 16.2k BTC.