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1301
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 06, 2015, 11:40:14 PM
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[Did you look up what "Κρίσις" means?  Google translate does not give anything funny (basically "critical", which coms from Κρίσις actually). Should I look for a slang dictionary instead? Unfortunately, Google translate doesn't incorporate, nor recognizes Ancient Greek. Α.
1. κρίση, γνώμη, εκτίμηση, αποτίμηση
2. εκλογή, επιλογή, προτίμηση |με γεν.
Β.
1. δίκη, κρίση δικαστηρίου, δικαστική απόφαση |δικανικός όρος
2. δοκιμή δεξιότητας ή δύναμης, άμιλλα, αγώνας
3. έριδα, φιλονικία, λογομαχία |με εμπρόθετο προσδιορισμό
Γ.
η έκβαση, το αποτέλεσμα, η λύση ενός πράγματος, μιας υπόθεσης ή ενός γεγονότος
Δ.
απότομη και οξεία εμφάνιση συμπτωμάτων μιας νόσου |ιατρική
Α.
1. crisis, opinion, judgement, evaluation
2. election, choice, preference | (generalization)
Β.
1. justice, the outcome of a jury, a judge's decision |(legal)
2. test of power or ability, competition, match
3. dispute, quarrel, contention |(with a person)
Γ.
the outcome, the final result, the solution of a something, of a case or an event
Δ.
a rapid degradation of health condition|(Medical)
http://www.greek-language.gr/greekLang/ancient_greek/tools/lexicon/lemma.html?id=134Now you're all a bit of Greek. You see? All it gets is to know a simple word.  OK, so is Greece's economy a crisis in sense Δ? |
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1304
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Economy / Service Announcements / Re: BitcoinWisdom.com - Live Bitcoin/LiteCoin Charts
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on: March 06, 2015, 06:01:56 PM
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hi there, thanks for your great charts! could you just check is that a bug or feature? empty spaces in 'Depth Of Market'. BTC-e, BTC/USD (same situation for Huobi, BTC/CNY)  AFAIK, the exchanges do not provide the full order book, but only the N entries closest to the spread, for some fixed N (say, a thousand). The order book summary (the two rightmost columns on the chart) are computed by bitcoinwisdom's routines from those truncated order books. The number of lines that they can compute depends on the distribution of the orders. Robot traders generate hundreds of small orders close to each other. For that reason, the summary of the first N bids below the spread may span very few price intervals For example, since BTC-e keeps USD prices with 0.001 USD steps, there may be almost 2000 orders between 270 and 272 USD, even though their total is only 312 BTC. |
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1305
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: March 06, 2015, 06:01:58 AM
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Was Bruno's bet technically gambling? I mean, if X makes a bet with Y that he (X) can do something, that seems to be more like offering a prize for performance in a competition, than X and Y betting on a horse or some event independent of the abilities of X or Y.
Here's the bet: https://bitcointalk.org/index.php?topic=327621.msg3527492#msg3527492Yes, I understood the bet. My question is whether, legally, that constitutes "gambling", or it is more like a prize or reward for achievement. I suppose that dad promising 10 bucks to a Spelling Bee contestant if she can spell "Committee for Assessment and Suppression of Massachusetts-Mississippi Businesses" will not send them both to jail for illegal gambling. |
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1306
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: March 06, 2015, 03:25:45 AM
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Was Bruno's bet technically gambling? I mean, if X makes a bet with Y that he (X) can do something, that seems to be more like offering a prize for performance in a competition, than X and Y betting on a horse or some event independent of the abilities of X or Y.
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1308
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 06, 2015, 12:16:07 AM
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dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?
People have already dismissed both rumors, but: The "China" rumor comes from this interview with a Chinese lawyer, published Feb/27: https://letstalkbitcoin.com/blog/post/a-chinese-lawyers-thoughts-on-cryptoWhat is the legal landscape like in China regarding DACs and cryptocurrencies?
The legal landscape is still vague in China, just like in any other jurisdiction. However, China’s regulatory environment in this area is generally much more relaxed than that of the US. In my view, China is one of the most suitable jurisdictions around the world where entrepreneurs can experiment on many pioneering business models in relation to DACs and cryptocurrencies, while most of them are clearly or implicitly banned in the US. The government in China is generally tolerant, so long as your business is not designed as a fraudulent scheme. Among others, Bitcoin and like cryptocurrencies have been officially recognized as lawful virtual commodities and are therefore OK to trade, which explains why there are so many exchanges in China where spots and even futures and other derivatives are traded. The only restriction imposed here is to block financial institutions and third-party payment processors from aiding cryptocurrency businesses (yet there are still many loopholes in reality to circumvent or even penetrate that restriction). And for cryptocoin crowdfunding or crowd sales, it is even restriction free in China. That means the initiators usually don’t have to worry about facing the charge of “illegal securities issuance,” as they are likely to suffer in the US. He is just describing the situation that has existed and been widely known since the PBoC decrees of Jan/ 2014, and was confirmed and reaffirmed many times since. The "auction bids at 30% above market" seems to have originated from this tweet. Subsequent tweets of that user suggest that it may have been just a joke or misunderstanding. The USMS does not reveal the winning prices, and AFAIK no winner has yet volunteered that information. (The USMS informed that there were 14 distinct bidders this time against 11 of the second auction; perhaps that was the "30%" increase.) On the contrary, Tim Draper (who did not bid) said that probably auctions are bargain buys. That may be a hint that he got his coins below market on the two previous occasions. At the first auction, Tim Draper collected ~30'000 BTC that he said would be used to "provide liquidity for" (i.e. "sell at") the Vaurum fund/exchange that he has invested in. At the second auction he got 2000 BTC that (IIRC) he planned to split among various bitcoin startups that would be incubated by Boost, his son's venture. |
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1310
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 05, 2015, 07:15:36 PM
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http://www.rre.com/blog/90-why-we-started-abraTo design Abra we turned to the traditional Hawala model. (...) Traditional Hawala’s are generally illegal in the United States as no one is allowed to hold or remit funds on behalf of someone else without being a licensed money transmitter both with FinCen (the Financial Crimes Enforcement Network) and with the US State regulators where the consumers’ reside. In the case of Abra, however, consumers and Tellers are always holding their own money just as with the standard open source Bitcoin software. Abra Tellers simply buy and sell digital currency directly to and from other consumers in their neighborhood in small amounts. I am not a lawyer, but that explanation of why Abra is not a money transmitter is seems totally bogus. When you use Western Union, you give your cash to one teller here, and another teller over there gives his cash to the other customer. No cash is actually moving between the two locations, and there may not even be transfers between bank accounts. Yet WU is definitely a money transmitter... |
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1313
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 05, 2015, 05:33:40 PM
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What time do auction details get released?
The USMS is receiving the bid forms today. Tomorrow they will notify the winners, privately. Monday the winners must issue a bank wire for the full amount (minus their deposit). If any winners fail to pay on Monday, the USMS will keep their deposits and may give the opportunity to the to the next unsatisfied bidders; which of course will have another day or two to pay. Once all winners have paid, or the USMS workers get bored, the USMS will move the coins to the winners' blockchain addresses, and will notify the losers, returning their deposits. Like last time, the USMS may release some information at the end of today about the number of bidders and bids received, and, in due time, how many distinct winners there were. As in previous times, they will not reveal the price fetched by each lot, nor the identity of the winners. (User @BurtW submitted a FOIA request to know the price fetched at the first auction, but I heard nothing more about it.) In the two previous auctions, SecondMarket organized syndicates (associations) of small bidders who could not afford a whole 2000 or 3000 BTC lot. (They lost in the first auction, and won 48'000 or the 50'000 in the second one.) I haven't seen any news of them forming such a syndicate this time. (Perhaps they felt that such a syndicate could take potential investors away from their BIT/GBTC fund?) |
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1314
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 05, 2015, 02:11:12 PM
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That doesn't mean they won't use them to pay out merchants and keep the Bitcoins, which for all intents and purposes is the same thing. And they can change their mind or have lied.
VC investors are somtimes stupid, but not so stupid that they would not see through that ruse. Operating expenses is not the same thing as paying out merchants who want cash. The only expenses they have are hosting and salaries and if they need VC money for that they would be a failure from the beginning.
Not sure what you meant "for that", but office space, servers, software, and salaries are not that cheap. Plus they need to pay lawyers, security, insurance, and marketing -- which can easily be more expensive than the first group. VC is usually intended to pay for such expenses for a couple of years at least, until the company gets enough revenue to cover them. |
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1315
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 05, 2015, 01:15:11 PM
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So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.
Cherish this day: Coinbase will announce to openly buy Bitcoins with the VC money. Charles Lee was asked about that, he said that they cannot use their VC to play the market. (Which makes obvious sense. Why would you give your money to someone else, for him to gamble with?) |
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1318
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Other / Off-topic / Re: Answer the question above with a question.
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on: March 05, 2015, 05:05:55 AM
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Why does it matter who he is?
Why does it matter to you too ? Did you here the joke about the two sad biologists that walked into a bar and the bartender asked them what's da matter? Shouldn't the bartender ask them what they want to drink ? If two bored physicists walked in instead, and he asked 'what's da matter', would he get a two-hour lecture about it, including inertia, gravitation, leptons, baryons, quarks, neutronium, relativity, and the Higgs boson? Why would physicists walk into a bar anyway? To study how fast they will be a victim of gravity after drinking alcohol? Well, two chemists would never walk into a bar; because, how could they ever decide which alcohol they want? What if they walked into a different kind of bar?  Wouldn't Einstein say that one cannot ever know whether it was the bar that walked into the man instead? Wouldn't that depend upon the relative position of the observer? Didn't she once say that position is everything? That's what SHE said!?  "Didn't you hear herd saw that?" If she was a real estate agent, would she say that location, rather than position, is everything? |
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1319
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 05, 2015, 02:04:27 AM
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You all realise that the whole China waking up thing doesn't hold water. A huge range of people trade on the Chinese exchanges. Apparently most of their clients are in Denmark.
Based on the pattern of volume on the 1h charts, I could believe that 30% of OKCoin's clients are outside China, at most. On Huobi they may be 20%. However, an unknown percentage of those "foreign traders" must be automatic robots, doing high-frequency trading or arbitrage 24/7, in China or outside it. |
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