Yes, that is a good example of how you can lie (= "intentionally lead people to believe in something that you don't believe") by telling the truth.

What would a casual reader understand by "trading volume"?


Bitpay gives merchants the option to actually receive the bitcoins, but the big companies listed there surely opt to receive dollars (for practical as well as financial reasons).  The conversion to dollars is done by BitPay, not by the companies.

In May the price was ~450 USD/BTC, and on a good day BiTPay's presumed input wallet received over 2000 BTC.  So, indeed, in May they were processing 1 million USD/day ... tops.

They haven t updated that number since then, though.  Analysis of that wallet suggests that the USD volume that they have been processing has been decreasing with the BTC price.

AND a large fraction of that volume, as noted before, appears to be miners paying their bills, not Joe Public using bitcoins to buy stuff and services.

That infographic is a masterpiece of misinformation.  Casual readers will think that the "23 billion USD (57% increase)" is usage for e-payments, but it is either the blockchain traffic or the trading volume at the exchanges.  BitPay has not released any meaningful numbers about the usage for e-payments through them.  Analysis of what seems to be their incoming wallet shows about 1000-2000 BTC per day, constant since mid 2013 at least, which may be miners paying their bills.  Excluding that component, BitPay's traffic seems to be a few hundred BTC per day, which would be perhaps 50 million (not billion) USD in 2014.  So, their unwillingness to post actual numbers is not surprising.

Also, needless to say, all of the companies that they list as "accepting bitcoin" infact do not accept bitcoins, only dollars.

There are at least a couple of threads discussing the distribution of coins by owner:
Distribution of bitcoin wealth by owner (by @rpietila)
How many coins is a lot? (by @joe200)

Those analyses suggest that the distribution of bitcoins is a bit more unequal than the distribution of wealth in the world.

I can ignore people in my head; do you need a computer to do that?

The distribution of bitcoins is pretty bad, but I have no idea how it is evolving.  There are many processes going on, some concentrate the coins (for instance, "professional" robot-driving traders collecting coins from many small traders) and others distribute them (for instance, large holders cashing profits by selling at exchanges, directly or through Bitpay). Who knows which kind predominates.

In my view, every bubble could be explained by the opening of a new market, separated from the others by use (drugs, investment, trading), geography, culture, etc..  Some bubbles result in a lasting increase in demand that drives the price up, but some bubbles "deflate" over time, as the market shrinks and the demand returns to the previous level.  The bubble in early 2011 deflated almost completely over the rest of the year.  The Nov/2013 bubble (the Mainland China market) seems to be deflating too.

Oh, you are free to post, of course; but do you really have to use that bitcointalk.org app that can't even quote posts properly (something that any browser can)?

Since October, the bitcoin half lost 39% of its value (~380 to ~230).

The cash half is still worth pretty much the same...

Wut?

Mark has lied before, so, whatever he said or says (except in an official deposition, under penalty for perjury) should be ignored.

Ukyo of BitFunder also claimed to have signed an NDA at the demand of US authorities.  That a convenient excuse to refuse to answer hard questions.


Neither company was officially bankrupt.  Bitcoin Cafe was non-functioning, but Tibanne still was functioning after a fashion. IIRC it was trying to sell the trademark "bitcoin" and/or the DNS name "bitcoin.com", that it acquired before MtGOX's collapse.  Tibanne also claimed to be a creditor of MtGOX, since the staff was hired by Tibanne and provided by Tibanne to MtGOX; and Kobayashi had to authorize that payment.

But now Mark is refusing to repay the loans that he made to Tibanne and Bitcoin cafe (i.e., to himself).  So Kobayashi has formally asked for Tibanne to be placed in involuntary bankruptcy.  I understand that it is a necessary step to get an investigation of Tibanne's aaccounting, and perhaps getting Mark personally liable for the loan.


It was mark who claimed that the site had been hacked.  We now know that there was some internal foul play.  The police investigation is still udnerway, I believe.

Did the MtGOX victims warn the Court and Kobayashi about Jesse Powell's close involvement with Mark and MtGOX in 2011?  On that occasion, Jesse Jesse got to see and fix the insides of the system...

Should we start a signature campaign to support a law forbidding marketing campaigns that pay users of bitcoin forums for inserting annoying ads in their signatures?

Thanks.  Tibanne and Bitcoin Cafe are certainly "related" to MtGOX but not "affiliated" to it.

The article about that visit was published last year already.  

BTC was ~350 USD last October, BTW.  As shown in the video, they were decomissioning miners of a specific brand and model because they were no longer profitable.  Is it possible to estimate, from that fact, what are their operating costs?

The maintainer just posted that the US server is down, but the EU server is OK. (Brazil is part of the EU it seems.  ) See the "Send feedback" link at the bottom of the chart.

I understood that the FTC requested a jury trial, that is scheduled sometime in coming months.  Is that correct?  If so, what exactly are the charges?

It should distinguish Coinbase's brokerage service (the "old" Coinbase) from Coinbase's exchange (the "new" Coinbase).  Volume is available only for the latter, right?

What do you think we think of signature campaigns?

It may be an incorrect translation from the Japanese.  He must be referring to Tibanne and the Bitcoin Cafe, which could be said to be "connected" or "related" to MtGOX.  "Affiliated" (from the Latin for "child") means "subordinated to" or "owned by"; the subtle distinction may have been missed by the translator.

Is it certain that it came from BFL?  Someone may have played a practical joke.

Even if it came from BFL, perhaps some crapbag there mailed you the form for revenge, and did not send the copy to the IRS.

The "Send feedback" link at the bottom of the chart directs to this thread.

The site owner is usually responds very quickly.  He may be traveling or something.

"Last Active:  2015-02-04, 15:04:05"