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PSA: Btc.sx is back up
by
cw92
on 21/02/2014, 11:03:03 UTC
For those looking to speculate on the Gox price without dealing with Gox themselves, btc.sx is back after a couple days of downtime.  I had no trouble with withdrawals earlier in the week, so that doesn't seem to be an issue. 
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Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
cw92
on 10/02/2014, 12:36:40 UTC
Dear users,

The trading engine is currently stopped due to the recent volatility and the fact that we exhausted our funds on Bitstamp in this critical moment.

We are waiting for new deposit to hit our Bitstamp account, after which we will resume the trades.

have a good day
Raphael

You do know that this is going to happen over and over and over again when the market has some volatility?   That outtage just cost me $8000 in profits and I'm sure many lost even more...just not acceptable.  You guys need a better system with your site.

Feel free to post any suggestion.
We will pay you if they make sense.
Otherwise just stop talking nonsense.

Giancarlo
Bitfinex Team

I have what I consider to be a legitimate suggestion.  I've been trading here for a while, and have always remained loyal to the exchange and refrained from joining in the BFX bashing in this thread whenever things go wrong.  However, with that said, I've also lost very significant amounts of fiat/btc on numerous occasions due to problems that were always on Bitfinex's end.  I've put up with this because I legitimately appreciate the service you're attempting to provide, but this past week has been a little ridiculous (between the two trading halts I'm out close to 5 figures).  My suggestion is to consider refunding trading fees for a given period; this would serve both to compensate losses on our end, and to regain credibility for Bitfinex by making it clear that the exchange is not attempting to profit from our losses.  
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Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
cw92
on 10/02/2014, 11:07:55 UTC
Is trading actually down right now....
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Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
cw92
on 09/02/2014, 23:55:16 UTC
I understand the logic behind the policy change to prevent fake walls coming from small balances, but I think it's a serious problem that traders are now unable to place orders to close out positions if the orders theoretically exceed the balance available.  To clarify, say I'm short 20 btc and my margin balance is low, I can no longer place a 20 btc buy order at a lower price due to the balance requirements; this makes no sense because the entire point of the order is the cover my short and replenish the balance.  It can't be that traders cannot preemptively place orders to close out their existing positions.  Thoughts? 
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Topic
Board Exchanges
Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
cw92
on 30/11/2013, 11:17:15 UTC
Haven't traded litecoin here until tonight, has anyone else had issues with low volume and order book manipulation? 
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Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 30/09/2013, 20:20:26 UTC
So hardware incoming before 16th October and a guarantee to repay over 50% of ipo price should project fail, which is >0.0005.

This means that the minimal value for these shares should be >0.0005  so they are currently undervalued.

Shouldn't be too long before the market catches up to this great news.

Decent divs by the middle of October means the project is pressing ahead with or without the naysayers.

Half you guys are just delusional at this point.  A "guarantee"?  Oh yes, because all of the other "guarantees" LC has made have been legitimate. 
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Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 30/09/2013, 19:56:39 UTC
So is is safe to assume, if there are 2nd gen chips, that they share the same heat problems?

It's safe to assume that there are no 2nd gen chips..
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Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 27/09/2013, 11:11:27 UTC
.05 btc per hour is around 350 Giga hash?
around 300-400GH
which is 5 avalons = BTC300 of worth a few months ago.
Dividing it by 10 million would give a justified shared price of 0.00003 which is 1/10 of the current market price.
If you factor in the trustworthiness, reputation, capability of the Labcoin team and their long history of meeting promises, on-time delivery and very accurate projected hashrate, the price should be worth 1 satoshi more.

If they are really avalon chips, then things maybe better than now. In that case, if there's enough pressue, they may have to buy back their shares at IPO price or be sued.

And who exactly are you going to sue?
Don't worry. Please believe the power of angry investors.

You made 40 posts over 24 hours in this thread.  Not one offered any insight, reasoning, or really anything besides your own fickle delusions.  The "power of angry investors" (translation: you making 200 useless posts demanding bitcoins from various LC affiliates) is of no concern to someone in China.  Fun fact: at the most recent bulk prices, 90btc worth of Friedcat's USB miners would rival Labcoin's hashrate, saving the other 6910 that I'm sure LC has an excuse for losing.  
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Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 27/09/2013, 09:31:49 UTC

If LC immediately started hashing at 2TH (which obviously is not going to happen), a price of .002 would yield 12% annual returns with no difficulty increases.  Those returns aren't nearly adequate given the level of risk, and the difficulty will probably double before LC gets any more hardware hashing (if they ever do).  So basically, 2TH doesn't justify anywhere near .002.  

+1

But the price now is 0.0002 BTC. There is an extra "0"   Grin

But Labcoin is not hashing at 2,000GH/s.  It is missing a "0". 
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Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 27/09/2013, 09:23:56 UTC
Only 94.27436235 BTC of bids left!!!!!
Last chance to pass your bags to the ultimate bagholders!!
Better to take a large loss like a man than being left empty-pocketed.
I guess all investors here are prepared to lose all the money invested on this stock. So what's the difference to selling now compared with just let it becomes 0 but with a slight hope to win?

To anyone still holding and thinking about taking the train to 0. If you sell now you are looking at perhaps 5x - 10x loss on your bitcoins. However in 2 years bitcoin might be worth 10x so you can still get back to your previous fiat level by selling now and holding the bitcoins themselves as an investment.

Of course getting the bitcoin value back...

No chance. (try another stock perhaps?)
I don't believe people will spend all their BTC on this stock. Even it goes to 0, there's other chance to get them back.

But all these only applies to those who think there's still a tiny chance. If you don't believe at all, then yes it seems now it's the only chance to get some tiny part of invest back.

But remember, if 2TH justifies 0.002, then now 300GH at least justifies 0.0003.

If LC immediately started hashing at 2TH (which obviously is not going to happen), a price of .002 would yield 12% annual returns with no difficulty increases.  Those returns aren't nearly adequate given the level of risk, and the difficulty will probably double before LC gets any more hardware hashing (if they ever do).  So basically, 2TH doesn't justify anywhere near .002.  
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Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 27/09/2013, 08:33:44 UTC
One thing is that they keep saying the 20TH will be online in the early October. I don't think lying about this does any good to them. Most likely they just have some problem in assembling and deploying.

You and the other few people still somehow hyping up LC continue to quote their claims.  What makes this promise any different from the countless others (all of which have been broken).  If they couldn't come anywhere near the few TH claim for the first batch, why are they any more likely to be on track for 20TH from the next batch?  Also, LC stated that they ordered the next batch weeks ago.  It's clear from their inconsistent hashrate that they have not yet figured out the issues with the first batch.  Please explain to me how they could have ordered a significantly better performing batch of chips before figuring out everything they botched for the first one.  
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Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 27/09/2013, 08:15:55 UTC
Yes, what you said make sense. However, one thing is that this IPO has a company and a CEO, with his name listed.

And has anyone been in contact with him? I could make an IPO and list Bill Gates as chairman.

As for the current share price, I have to say, if anything its still rather high. Am I wrong saying it IPO'd at 0.001 and its now still about half of that?

If even labcoin is legit, its clear they will be unable to meet the expectations set forth at ipo. But the current price only makes sense to me if people still believe their chip not only exists, but will start hashing fairly soon with a relatively small risk  this is going absolutely nowhere. IOW, Im amazed its holding up so well and equally amazed how most of you seem to think this price is low. Facebook value dropped about as much after the IPO, no one thought FB was a scam.
At the time of IPO, we were even further from the chips. If not the btct closing, I don't see anything worse now than the time of IPO except their poor PR communication.

If don't see anything worse now than at the time of the IPO you should probably try looking.  The company has failed to deliver on any of its claims.  Currently, there are two likely possibilities: 1) LC did actually receive their first batch of chips, their performance is about 10% of the rate LC advertised, and there are additional technical issues with the chips that prevent them from hashing steadily.  

2) LC is a total scam, rather than just a completely incompetent company.  
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Topic
Board Securities
Re: [BTC-TC] Deprived Mining Speculation (DMS)
by
cw92
on 23/09/2013, 13:59:12 UTC
Don't know if this is a legitimate issue, but I'm wondering if any of the other exchanges could have problems handling the extra volume if they accept a lot of new securities from BTCT?  
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Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 23/09/2013, 07:36:01 UTC
Burnsides exchange is a joke, just lost 10 btc due to a glitch, sale went through with an additional 0, great stuff. Not only closing but f*cking us as well

You obviously got trigger-happy filling an order after the announcement and failed to notice the extra 0 someone snuck into the bid price.  Everyone else seems to be trading fine. 
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Topic
Board Securities
Re: [BTC-TC] Virtual Community Exchange w/ Options, DRIP, 2FA, API, CSV, etc.
by
cw92
on 23/09/2013, 07:12:09 UTC
My balance was immediately reduced to 0 after this announcement. Burnside??

Edit: Balance is now displaying properly
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Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
cw92
on 16/09/2013, 21:06:31 UTC
Looked over the recent updates/nonsensical posts.  It's still not clear is Masbark is posting out of desperation while reminiscing about his account value in the golden days (last week), or if he's gullible beyond belief.  You actually took the time to do a series of calculations that rely on the fallacy that labcoin could possibly end the year with 500TH?  Every week, labcoin has disappointing news about their first batch of chips.  Somehow, every week, labcoins hashrate projections for the rest of the year increase as we hear this news about how shitty their chips are.  Is anyone else a little confused about how labcoin's hashrate estimates are increasing enormously when the only new news is that their chips hash way slower than they planned on when making their initial (much more conservative) estimates for hardware deployment throughout Q4?

First the estimates drifted from 5-6Th/s down to 2 ("some issues with chips underperforming" is a pretty casual explanation for achieving 1/3 projected hashrate).  A week later, we hear that LC is still "tweaking" the chips and boards to get them to run properly.  We're simultaneously told that an enormous quantity of chips/boards have already been ordered, and this delivery will allow LC to meet these crazy projects.  If the chips and boards still need "tweaking" (whatever that means, a week's worth of "tweaking" was insufficient) how is it possible that 100k more have already been ordered.  I see two possible scenarios: LC lied and this batch of chips does not exist, OR the IPO funds were spent on 100,000 chips that hash well below projections and will all require "tweaking" to have any hope of hashing reliably in a large-scale operation.  Now, I encourage someone to explain to me how labcoin has any hope of mining at 500TH in the coming months.  
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Board Securities
Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
by
cw92
on 11/09/2013, 20:40:54 UTC
I assume some revenue was kept back again this week, but does anyone know approximately how much has been kept back in total?

AM owns this (though it also gets divs) and seems like a lot of traffic to and from this address. http://blockchain.info/address/1HgTJED7XEGy4vVwKa8kgefWqUB3VRX2mW

Currently about 9000 BTC here.

Other stuff:
1. The HW payments I was keeping track off from group buy threads, most of them ended up here (http://blockchain.info/address/1ZGtnxLWYVDbUVXPQLTRqnF6Bv6u2BMf8). They still weren't part of the divs (~1670 BTC)

2. Similar one, with ~616 BTC still there - http://blockchain.info/address/18GHa147X18rdNPxJeuNeEM7L7SFzsvTyi - From hw sales

3. Both Sonic and Cannary's group buy payment still has approx. 500 BTC (I imagine most of this being sent to FC, after deducting reseller commission)

http://blockchain.info/address/16ARXc5LhCnz111qD5xRUR3mWVg6gkBcU4
http://blockchain.info/address/14ja5p6K1gqYgmZQPCU295UxducKwaT6pw


Thanks for keeping track of this!

so, ~2786 btc or so that hasn't gone into divs from HW sales.  Maybe they will go in next week.

If that top address (9000 BTC) is withholding for expansion, that's a serious expansion planned.  

Probably about a petahash.

Trouble is that it's still in BTC. If FC is going to be full-scale deployed by December he should have already sold that. Lead time on chips alone from e-beam sample receipt to full-scale 55nm shipping is probably in the neighborhood of ten weeks. Then there's the delay for assembly and deployment.

Either a large scale BTC buyer owns that address,  or FC hasn't started using his Gen 2 funds. As far as I know, no 55nm-capable foundry accepts bitcoin.

Not to mention he's playing with fire by keeping future fiat liabilities in Bitcoin in the first place. That's like a gold mining company hoarding gold bars to save up for a new mine that they had promised to investors.

Disclaimer: Vycid stands to gain significantly from AM losing value and is still butt-hurt from this morning when he convinced himself the hash rate might actually stay at 0. 
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Board Securities
Re: Starting a new FPGA mining farm/contract! Cognitive Resurrected on [BTC-TC]
by
cw92
on 11/09/2013, 03:40:34 UTC
I understand your skepticism toward all the unproven companies, but Bitfury delivered its August orders on time and I believe October orders are still open.  Even if Avalon claims the order will be sent soon, no one knows when that is and waiting would keep us at the mercy of Avalon's incompetency. 
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Board Securities
Re: Starting a new FPGA mining farm/contract! Cognitive Resurrected on [BTC-TC]
by
cw92
on 11/09/2013, 03:18:06 UTC
You seem to be the only person who objects to the Avalon refund.  What disadvantage can you possibly see to an immediate refund vs. waiting an undetermined amount of time for an order of increasingly outdated chips? 
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Re: Starting a new FPGA mining farm/contract! Cognitive Resurrected on [BTC-TC]
by
cw92
on 10/09/2013, 21:38:10 UTC
I was under the impression that if Cognitive doesn't take the refund the chips still won't ship anytime soon, if at all.  Is that wrong?