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961
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 27, 2015, 09:51:46 PM
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Someone at BTC-e is buying like crazy, and arbitragers are buying at other exchanges in order to sell at BTC-e to that desperate guy.
There are of course many possible explanations for that buying spree. One of them is: someone realized, perhaps by inside information, that he would not be able to withdraw his USD/EUR/RUB balance; so he is converting it all to BTC, as fast as he can. If that is the reason, and that hypothetical blockade affects all users, then the arbitragers will be screwed.
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962
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 27, 2015, 03:45:36 PM
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If you really want to impress the echo chamber you should come out with a hard hitting article about how bad Bitcoin is.
I am working on that, but by the time it is ready it will be quite irrelevant, I am afraid, one way or the other. (Although I don't see how it could be other than the other.) Make a big claim about the price dropping below $10 before some future date.
My esteemed colleague Professor Bitcorn made the fatal mistake of overestimating the intelligence of bitcoin investors, when he predicted that it would reach 10$ by mid-2014. He should have heeded Barnum's Law. I do not intend to make the same mistake. |
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963
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 27, 2015, 02:24:21 PM
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You're a liberal, he's a socialist. Those aren't dirty words. They have specific meanings.
I consider myself liberal AND socialist. "Liberal"used to be a positive word meaning "open-minded". Funny that it became a dirty word in the US to mean "stupid leftist" ("the 'L' word", as King Bush I used to say), whereas here in Brazil "neo-liberal" means "evil right-winger"... |
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964
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Other / Off-topic / Re: Answer the question above with a question.
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on: April 27, 2015, 01:15:56 AM
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Is this the last post on page 400?
Aren't there only 20 posts per page? Doesn't that mean we have 6 left to go? Am I mathing right? Alright, who is the funny guy who keeps deleting his posts to keep us on page 400? |
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966
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Other / Off-topic / Re: Answer the question above with a question.
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on: April 26, 2015, 09:35:51 PM
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Is this some kind of joke? How would I remember what I was donning that day, except generically (trousers, shirt, shoes, etc.)? When did you get an avatar? Didn't you know that avatar uploads are again enabled in this forum, through your profile page? Is there an avatar depicting doning vs. doing? If there is what do you suppose it should look like? Why didn't you type your question under, like all other humans? Why would he do that? Can't we just leave him free to do what he wants, and then change it the way we like? How about we all celebrate the fact that this thread has reached 400 pages? Why not the fact that it has started page 401? |
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967
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 26, 2015, 03:50:26 PM
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hopefully silbert, draper and winkles are smart enough to feel stupid  Draper maybe, but Silbert and the Winkles must have paid way less than 100 $/BTC for their coins, and so they still got a paper (or real) profit. Any coins that Silbert had he probably sold to BIT investors between Sep/2013 and May/2014. (The Winkles surely hope to do the same if their ETF gets approved.) Since then he has been just collecting fees from BIT investors, from SecondMarket's BTC brokerage services, and from the small investors who got into the syndicates that the managed for the last USMS auctions. |
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968
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Other / Off-topic / Re: Answer the question above with a question.
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on: April 26, 2015, 03:39:54 PM
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Is this some kind of joke? How would I remember what I was donning that day, except generically (trousers, shirt, shoes, etc.)? When did you get an avatar? Didn't you know that avatar uploads are again enabled in this forum, through your profile page? Is there an avatar depicting doning vs. doing? If there is what do you suppose it should look like? Why didn't you type your question under, like all other humans? Why would he do that? Can't we just leave him free to do what he wants, and then change it the way we like? |
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971
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 26, 2015, 01:53:17 AM
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Seriously now, maybe there was some rumor in China?
On February 10, 2014, the price took a dip when Mark announced that there was "a bug in bitcoin". It was one of the rare moments since the all-time high when news in the "West" had an effect on the Chinese day-traders. Could it be that the story about today's BitGo bug was mistranslated into Chinese?
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972
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 26, 2015, 01:45:50 AM
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God The Mod told me to stick to wall watching, so I watch OKCoin and see a huge 1300 BTC wall at 1390 yuan, fine, but then I blink and the wall is gone and the price is down to 1380 1370 1360. What silly kind of hobby is this?
(And on Bitstamp they are back to "buy one Beast of Apocalypse, get two more for free", I see.)
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973
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 25, 2015, 10:36:40 PM
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Quite a huge amount of bids at $225, I guess some people are eager to grab some coins and hope for a dump into their wall. Why isn't the price crashing already? I really would have expected it to go down massively after returning to these levels...
On OKCoin that wall is at 1400 CNY, a nice round number. Perhaps the 225 USD wall is a reflex of that? (1400/225 = 6.22, a plausible exchange rate for arbitrage.) |
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974
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Other / Off-topic / Re: Answer the question above with a question.
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on: April 25, 2015, 10:16:27 PM
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Is this some kind of joke? How would I remember what I was donning that day, except generically (trousers, shirt, shoes, etc.)? When did you get an avatar? Didn't you know that avatar uploads are again enabled in this forum, through your profile page? |
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975
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: April 25, 2015, 09:35:40 PM
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Seems that the bug was in the script that BitGo provided to recover coins from old-format wallets: I think I know what happened.
The transaction in question has inputs of 102.27137437 BTC and output of 16.37152845 BTC. The difference is treated as a fee, fees are not explicit.
Now let's convert it to satoshis and write in hexadecimal:
inputs: 0x2,6195,BB9D
outputs: 0x6194,F84D
Yes, this is a fucking 32-bit integer overflow. Whatever software was used, it calculated the sum of all inputs using 32-bit variables, which overflow at about 20 BTC if signed or 40 BTC if not. The fee was supposed to be 0xC350 = 50,000 satoshis, but it turned out to be 0x2,0000,C350 = 8,589,984,592 satoshis.
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980
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Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer
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on: April 25, 2015, 04:03:18 PM
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It would be indelicate to point out that the DTC does for BIT shares precisely what the bitcoin network is meant to do for bitcoins, only centralized, nominal, with a trusted authroity etc.... So I will refrain from pointing that out.  |
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