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Showing 20 of 135 results by Kaiji
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Topic
Board Speculation
Topic OP
ruble going down; russians buying up BTC
by
Kaiji
on 03/03/2014, 20:09:31 UTC


A surprising rise in BTC prices today. How much of it has to do with the Crimean war causing ruble prices to drop and russians trying to save their wealth in bitcoins and gold?
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Topic
Board Development & Technical Discussion
Topic OP
Timing of exploitation of bug
by
Kaiji
on 16/02/2014, 19:49:29 UTC

How come this bug in the bitcoin protocol wasn't exploited before? I am sure every hackercriminal in the world was trying to rob from the system. The timing seems a little fishy to me?
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Topic
Board Speculation
Re: Lets pretend Gox gets fixed monday. Now what?
by
Kaiji
on 15/02/2014, 15:14:38 UTC

The price at gox already tells the tale. They will probably withdraw their coins and abandon gox as soon as they can. People are actually selling their coins for $300+.
Post
Topic
Board Economics
Topic OP
How to buy gold and silver.
by
Kaiji
on 13/02/2014, 15:44:06 UTC
For a complete newbie. How does one buy and sell physical gold and silver? What are the best practices?



Post
Topic
Board Economics
Re: Killer app for bitcoin
by
Kaiji
on 12/02/2014, 15:58:06 UTC


Nice way of thinking, but you probably need to expand on it some more. BTC by itself makes it a great way to give tips and donations as such.
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Topic
Board Speculation
Re: MtGox reports bug in system.
by
Kaiji
on 10/02/2014, 16:38:59 UTC
why is this topic even discussed here, how stupid are you?

who me? this is important to speculators.....

All of you, uh and everything is "important to speculators", and there is some tolerance to this practise, but...
The stupidity is more debating a technical subject with and along with non-technical minded people. This is partly mtgox's fault for the way they published the issue, we're all adults here, or at least pretend so...

what are you on about?
the way they published it is all part of the subject, we are studying sentiment, manipulation, fundamentals, etc......
this is what they said.... that is a fact, and it is important.


I agree with you. All external factors that might affect price is part of speculation.
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Topic
Board Speculation
Re: MtGox reports bug in system.
by
Kaiji
on 10/02/2014, 16:11:48 UTC

You got to love Mark Karpeles.

Here's a man who doesn't mind taking the entire world (well: btc world) with him on the way down, as long as it buys him an extra day or two of breathing room.

Sometimes I think E.Mucus is right: bitcoiners are among the most psychopathic creatures on earth.

(I don't really agree. But we have our fair share of psychos, i'll say that much.)



I wake up today to $100 prices in btc-e and gox diverting blame to the bitcoin protocol itself. That word you used is scary but apt to be true. It is the only explanation for such an absurd excuse. Its like those movies where the bad guy tries to take everyone out with himself included.

Question: Where is all the profits Gox accumulated in the past year? Surely they have enough money to pay people back.
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Topic
Board Speculation
Re: BITCOIN CRASHING
by
Kaiji
on 08/02/2014, 17:22:44 UTC


Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

If gox fails does it really matter anymore? Most exchanges don't even follow gox's prices anymore.


The news was that Gox is imploding and Russia banned bitcoins.

(Unlike China, Russia actually did BAN them.)

But keep in mind. The idea of trading is to make money. So when whale daytraders, or any one trying to make money on swings, hears bad news... they tend to sell. Hopefully they sell before everyone else does. Smashing 1700BTC sell orders into the buy walls is a great way to make others panic and sell too. Then, at the bottom, trickle buys bring things back up and the people who bought and sold at the right spots make mad profits. Those who didn't time their orders right get fucked.

So, in a sense, the news did not cause the price crash. Obviously Gox is not particularly relevant since it's been a long time since it had 80% market share, lol. And the people who sold, were not necessarily selling because they all of a sudden decided "This news will have a HUGE effect on BTC, it is the end of BTC as we know it!" It was more like "Other people are probably going to sell on this news, so if I sell, I'll profit!" Others sold because they panicked. Still others sold because they wanted to cash out anyways and figured that price might go lower in the mid-term future so now was their best bet. There is no such thing as single cause->effect when it comes to market psychology. The same event might cause different people to sell for different reasons.



So a combination of bad news plus people selling to make a profit plus a whale dumping. The price has been stagnant for so long now that there are 2 types of people left in trading. One type assumes it will go up and are holding tightly. The other type is waiting for a crash to buy cheap coins. A whale dumping can change the balance easily with holders panicking.
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Topic
Board Speculation
Re: BITCOIN CRASHING
by
Kaiji
on 08/02/2014, 17:16:18 UTC

Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.


I witnessed a series of very large sell offs getting slammed into Bid wall on Stamp. Individual sell orders so large, that the whale executing them must have either been panicking, or deliberately trying to smash the market.

Included amongst them, was a single sell order in the region of 1700 BTC, that took Bitstamp down from $705 - $666.6666.

Seems like you need larger and larger amount of bitcoins and money to swing the prices.
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Topic
Board Speculation
Re: BITCOIN CRASHING
by
Kaiji
on 08/02/2014, 00:52:00 UTC


Can someone tell me what triggered this sell off? I know people were speculating that there was some manipulation to keep prices constant.

If gox fails does it really matter anymore? Most exchanges don't even follow gox's prices anymore.
Post
Topic
Board Economics
Re: Harvard Economist says your money isnt safe in the bank, withdraws $1 Million
by
Kaiji
on 04/02/2014, 15:19:24 UTC

I think everyone is feeling a little uneasy about this. But what is the alternative? Turn 1 mill into gold and bury it in the woods somewhere? If a bank employee sells the information to some criminal the person's life can be in danger. They kill for far less than $1mill.
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Topic
Board Speculation
Re: Each time i sold i lost
by
Kaiji
on 02/02/2014, 12:29:41 UTC
I don´t have many btc and i believe in the crypto currency.

Every time i sold ( trying to rebuy cheaper ) because most of the topics where talking about capitulation, China ban, Russia ban, etc, etc, etc, finished loosing.

So i will HOLD, if it gets 10k or more i will sell and if not i will keep them in a pendrive till usb ports be obsolete.

Maybe it´s just i´m a noob trading, but needed to tell my experience.

Don't be hard on yourself, common sense doesn't seem to work in this current bitcoin environment. Patience is the key, just wait for an opportunity rather than forcing one to happen.
Post
Topic
Board Altcoin Discussion
Re: Best coin to buy or mine ?
by
Kaiji
on 01/02/2014, 18:17:53 UTC
In my opinion, you want to buy/mine a coin that has yet to be widely discovered.

Once the media and the whole world has jumped in, there will be less upside potential. The trick is to find the coin before the massive run up in price.

How to find the next winner:

Take a look at the list of coins on coinmarketcap.com and look for those that are undervalued. The trick is to find coins that have a disconnect between underlying fundamentals and market price. Do your homework and realize that coin value is derived from; coin name, size and quality of community, and developer genius.

Then read, study, and research, and find the coins that the markets have not yet found.


Well said. That's a good way to be ahead of the game rather than just jumping on the band wagon. I have question. How do you find new coins before anyone else does? Are they all announced on this forum?
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Topic
Board Altcoin Discussion
Re: Giveaway threads are not allowed
by
Kaiji
on 31/01/2014, 14:45:47 UTC


I for one am glad. The altcoin forum page is so much clearer now. You can have proper discussions now without having to dig out relevant threads.

Didn't even know what Dogecoin was until a month later because of all the giveaway threads.


Thanks Admin!!!!
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Topic
Board Altcoin Discussion
Re: litecoin dead ?
by
Kaiji
on 31/01/2014, 14:36:26 UTC

Looks like LTC reached its limit. The only reason it went up from $1 in Oct/nov 2013 was because of the anticipation that the chinese would start buying it like they did with BTC. I have no idea why it's staying so high now. Too many people are waiting to buy up cheap LTC is probably the reason.
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Topic
Board Speculation
Re: Charlie Shrem, the Vice Chairman of Bitcoin Foundation Arrested
by
Kaiji
on 29/01/2014, 11:17:17 UTC

http://www.bbc.co.uk/news/technology-25919482

Looks like Mr. Shrem wasn't directly involved in something illegal. He is guilty for not notifying the Gov. about a suspicious buying of coins on bitinstant whatever that means.

He was:
http://rt.com/usa/bitcoin-operator-exchange-arrested-257/
(rt provides a link to the official statement from the justice department)

facing 25 years in a small room with a toilet and a desk (if lucky).

25 years!!!!! and they give child molesters 8 years. What the hell.
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Topic
Board Speculation
Re: Satoshi's long term plans
by
Kaiji
on 29/01/2014, 11:13:22 UTC


Satoshi is on the island.



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Topic
Board Speculation
Re: NY bitcoin hearing in some hours - how will it affect price?
by
Kaiji
on 28/01/2014, 18:12:48 UTC

I have a bad feeling about this. I hope I am wrong. NY being a financial center it can send a precedent if it tries to curtail bitcoin trade.
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Topic
Board Speculation
Re: Gox blowing up? $820 vs $1020
by
Kaiji
on 28/01/2014, 11:17:00 UTC
What if..
.. MtGox got hacked like a year ago, with BTC stolen, and they were too chicken to announce it, instead thinking: "Well, we make good money don't we.. maybe if we just keep going, then maybe we could earn back the money we lost."
But after a year, everything has just went over their heads and they are insolvent.

That is the only reason that I can imagine of. Other then the theory that Gox is operated by an flock of drunken emus.


It might be something of that nature. Or they want the exchange to shutdown but want to keep all the fiat in a "legal" way. They hope that all coins will be taken off the exchange and then they will shut down the exchange. The reasons could be many, maybe they got hacked like you said or they have serious problem they can't deal with.
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Topic
Board Speculation
Re: Charlie Shrem, the Vice Chairman of Bitcoin Foundation Arrested
by
Kaiji
on 27/01/2014, 18:43:35 UTC

http://www.bbc.co.uk/news/technology-25919482

Looks like Mr. Shrem wasn't directly involved in something illegal. He is guilty for not notifying the Gov. about a suspicious buying of coins on bitinstant whatever that means.