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Re: Banca Transilvania iti blocheaza contul daca tranzactionezi cu BITCOIN
by
BitofaN1
on 13/09/2016, 01:32:42 UTC
La ING inca nu sunt probleme, inafara de faptul ca a inceput sa le pice sistemul Smiley).
Luna trecuta a trebuit sa confirm tranzactia telefonic operatorului ING.Mai au si acum probleme?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 06/08/2016, 19:13:12 UTC
How are they planning to buy 75k coins off the market without insta-mooning the price (OTC?)? Who's gonna sell them all of those coins at ~$600?
Also how will they liquidate 36% of LTC ETC and ETH without tanking their price accordingly?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 05/08/2016, 18:32:50 UTC
Since Bitfinex knows all of the attacker's addresses, couldn't they try to convince the top pool's operators to blacklist them? Wouldn't that be one of the "advantages" of ultra centralized mining?

So, lets play this out.

The top pools decide to blacklist the BitFinex theft addresses (BFTA). Let's say the top 5. Looking at bc.info (I know it's not the best place to get info but whatever), the top 5 pools have about 70.6% of the hash rate over the past 4 days. So any blocks created by them will not include transactions from the BFTA.

But wait, there is still @30% of the network to deal with. As soon as they find a block, transactions from the BFTA are included.

Never fear, the top 5 pools aren't finished yet! They ignore blocks from the puny 30% and refuse to build on them. Now we have miners 51% "attacking" the Bitcoin network to blacklist some coins. I'm sure that won't cause any problems.

The thief probably isn't stupid either. He starts including huge miner's fees (multiple bitcoins per transaction) to include his transactions in the block chain. The small pools keep building their chain earning tons of bitcoins from fees (which are melted into the coinbase rewards). The smaller miners start upping their hash power with their new found income!

We now have two viable chains. One with fungibility, one without. Hey, Bitcoin is like Ethereum now! Exchanges list both coins (they love getting those trading fees, don't they)! BTCa and BTCb can be traded against each other. The free market decides which properties are more valuable. Hilarity ensues.

Hey, after this, we can hard fork both forks with bigger blocks and have four chains. BTCa1mb4eva, BTCa8mb, BTCb1mb4eva, BTCb8mb. The more the merrier!

I can't wait for miners to decide to fuck with the network over some contentious issue. I'm sure, as businessmen, they are ready to assume the risk that they will be mining worthless tokens in the hopes of picking the chain that the market prefers! No risk, no reward, amirite?
Thanks for the answer. I guess if he ramps his fees high enough, even the largest of pools won't be able to resist temptation and soon enough they'll be fighting each other to include his transactions.Human greed is a wonderful thing./s  
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 05/08/2016, 17:32:10 UTC
Since Bitfinex knows all of the attacker's addresses, couldn't they try to convince the top pool's operators to blacklist them? Wouldn't that be one of the "advantages" of ultra centralized mining?
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Re: Prezentare BITFINEX
by
BitofaN1
on 03/08/2016, 14:48:48 UTC
Mai e cineva pe aici care avea BTC pe Finex? Tocmai am aflat de pe blocktrail.com ca din walletul meu de exchange au zburat 4.4 bitcoini ieri, cam pe la 3:30.
FML.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 28/02/2016, 07:16:53 UTC
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 18/12/2015, 21:43:52 UTC

So what you're saying is until now, miners could afford to make less money, but now that they're stuck with all the new HW, they have to get serious? Is that the gist of it, or am I missing something?
Chinese exchanges are in business to make money. Miners going broke doesn't add any new tools to the exchanges' manipulation arsenal. If they could manipulate the price, they're already doing it.
They cannot sustain price manipulation for prolonged periods of time.But by simulating these parabolic rises they're hoping to create enough FOMO so that they could unload slowly on the market at highest possible price for as long as possible, now that they have ROI as a reason.Hash rate was steadily increasing even when the price was in the low 200's, so Chinese miners were profitable even then, otherwise they wouldn't have had a reason to invest huge amounts of money in these new 16 nm Asic chips.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 18/12/2015, 19:28:22 UTC
Couldn't they artificially pump up the price so all that mining hardware that must have cost fortunes,
can pay for itself as soon as possible?

If they could, why didn't they do it before their hardware became unprofitable, to simply boost their profits?
And why would anyone invest in a virtual asset which could be so easily manipulated?
Because the mining gear that accounts for the 220 mil GH/s network hash rate increase, came online only recently. Probably early
november.That investment needs to brake even fast. There is clearly demand out there, even at these prices but not to sustain it with out China's "help".
As for the second question: Only invest what you can afford to lose.Personally, I think China's greed will bring the death of bitcoin, unless we  magically get audited and regulated Chinese Bitcoin exchanges somehow without crashing the entire BTC economy.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 18/12/2015, 18:37:40 UTC
It just occurred to me that @$456, assuming miners are on average selling all their coins, the market has to absorb $1.6 million in sales just to stay at the same price.  You gotta wonder how long bulls can keep that up, considering we're going to run out of room in blocks in the next couple of months at this rate.


The market can be irrational way longer than your shorts can. That on top that the market does not seem to be overheated at the moment.
Anyone here thinks there is a strong correlation between the huge increase in hash rate and the actual price of BTC?
I mean all that mining hardware has to ROI as fast as possible so that miners can see some nice profits.Look at the hash rate graph: https://blockchain.info/charts/hash-rate  
Hash rate jumped from 510mil GH/s  to 770mil GH/s in less than a month.
Now here comes the speculation bit and I could be well off here, but: We all know Chinese miners work close together with Chinese exchanges, maybe too close, if you get what I'm saying.Couldn't they artificially pump up the price so all that mining hardware that must have cost fortunes,
can pay for itself as soon as possible? I'm not saying demand for BTC didn't increase also, but did it almost double in 60 days like the hash rate or the price did? I find that hard to believe.I also think that doubling of the BTC price and maintaining it at that level is a trivial task for China's bitcoin industry.  
Long story short, I think China is way too invested in Bitcoin and is going to try and sell it to the rest of the world, for as high as possible for as long as possible from now on.That's why shorting bitcoin right now seems like a bad idea to me.    
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 02/12/2015, 04:07:57 UTC
Patiently waiting for a double bottom to get in.Right now we are looking at a second obvious bear flag in the making.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 25/11/2015, 11:44:21 UTC
wow that pump  Cheesy
It's actually real demand./s
I guess everyone was feeling way too bearish for market makers to oblige.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 18/11/2015, 11:21:33 UTC
What will be the next movie in this weekend?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 16/11/2015, 20:20:12 UTC
Hey, look, it's perfectly symmetrical!


Maybe because it's the same whale that droped us over the week-end? Looks like his plan of buying below 320 didn't succeed.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 10/11/2015, 22:20:14 UTC
If we look at 1day MACD indicator wich just turned red today, we can guesstimate that there's plenty of room to fall, unfortunately.Considering that monday-tuesday is usually when new fiat hits exchanges, and we've seen 0 upwards buying pressure, we can also assume this week will be particularly tuogh on the hodlers.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 09/11/2015, 18:22:07 UTC


When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while.  They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted.  Then they will dump.

Could be weeks before it all plays out.  Check back at the end of the year.
Pretty much this. After watching bitcoin for only six months , I am amazed how grossly the BTC market is being manipulated by Chinese exchanges working together with a handful of deep pockets/mining cartels. From fake DDOS claims , to shamelessly pumped volume to front running and insider trading.Trading bitcoin looks like a bad joke right now.I might even state that bitcoin won't succeed without either decentralized exchanges or heavily regulated/audited ones. And I don't think China is keen on western regulation. Just my 2 cents.
Disclaimer: I bought all my coins from May through October this year most of them below $250 and overall am more than pleased with my investment but I am also done hodling for now.      
  
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 09/11/2015, 01:36:26 UTC
Come on people, lesbi_honest here, were all of you prepared to pay 500+ per coin for the next 6 months?Or were you expecting other people to do it for you?
We still have 9% inflation for more than half a year right now and userbase didn't double these past months. Boring acumulation will gave to resume at some point.But what will be the new fair price most people are willing to pay?I guess we'll see soon enough..My guess low 300's will become support just as low 200's used to be.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 03/11/2015, 17:14:43 UTC
3k shorts closed today. R.I.P bears. Cry
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 03/11/2015, 15:51:05 UTC
I'm out. I'll get in on the next pullback, even if that's $100 higher than here. This very well could be a bubble to $1000+, but this is a parabola and I'm jumping off!
Aaaaand we're at $396. Just set some stops in place and enjoy the ride.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 03/11/2015, 14:21:00 UTC
Shorts still at 18k? Color me impressed.Say what you want about bears, but they're either really dumb or have balls of steel.
Edit: Really expensive attempt at stop hunting on BFX.  Cheesy

those 18k are definitely not holding since 250
Well, they didn't open them at $395 either.The vast majority of the new shorts (7k) were opened on the 29th of october at $315 and currently only 3k of them closed.I REALLY think we will burn through them before we go down, so hang on to your seat belts.

wow! where do you find such detailed info?
https://bfxdata.com/combined/btc  at your disposal.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitofaN1
on 03/11/2015, 14:06:33 UTC
Shorts still at 18k? Color me impressed.Say what you want about bears, but they're either really dumb or have balls of steel.
Edit: Really expensive attempt at stop hunting on BFX.  Cheesy

those 18k are definitely not holding since 250
Well, they didn't open them at $395 either.The vast majority of the new shorts (7k) were opened on the 29th of october at $315 and currently only 3k of them closed.I REALLY think we will burn through them before we go down, so hang on to your seat belts.