Seems legit.

Reddit claims bloomberg terminal says the tale is by people who declined to be identified who are familiar with the matter.


The only recent bloomberg story about China published on its website seems to be this one, and it doesn't mention Bitcoin once. It's strange how it was published half a day ago but fails to mention Bitcoin, but there are claims the tale from the terminal does.

It does say people who asked not to be identified who are familiar with the matter claim China’s central bank might start monitoring $1.9 trillion of banks’ off-balance-sheet wealth-management products. However Bitcoin's not any banks’ off-balance-sheet wealth-management product, and its entire market cap is only $11 billion, not $1.9 trillion.

Anyway the anonymous people who asked not to be identified say it’s not clear when, or IF the People’s Bank of China will start monitoring the banks’ off-balance-sheet wealth-management products.

http://www.bloomberg.com/news/articles/2016-10-26/pboc-may-grab-oversight-of-1-9-trillion-wealth-management-pool

I assume your transaction is confirmed now. In case you run into the same problem again if you use Bitcoin core wallet you can now use a new option called -zapwallettxes which lets you remove stuck unconfirmed transactions, then try them again. The technical details of how to do it are at this link.

http://bitcoin.stackexchange.com/questions/45988/how-do-you-apply-zapwallettxes-on-windows

There have been attempts at Bitcoin banks/vaults before and they all got hacked. BitGo's isn't a Bitcoin bank, but its multisig technology was mean't to provide 100% security for Bitfinex's funds. Although I have not yet read an explanation of how it was done Bitfinex's coins were stolen despite BitGo's technology.

I wouldn't trust a Bitcoin vault's technology to secure my funds any more than I would trust BitGo's technology.

i know this is digressing off the OP's question. and being pedantic, and that franky1 already knows about it, but the very first coinbase is not spendable due to a quirk in the Bitcoin code. Every coinbase after that is spendable so SmartIphone would consider the second block's coinbase as the first transaction.

However, I take the majority's view that the pizza sale was the first Bitcoin transaction.

That's probably why Bitcoin's going up. Unfortunately when Bitcoin goes up all the altcoins (including Lisk) get temporarily dumped. However, if Bitcoin continues going up for long enough all the altcoins get pumped to new ATHs, so it could be good for Lisk in the long run.

Virwox has some minimum fees for various things, so if you buy a small amount of Bitcoin those fees will seem big. You can't just buy Bitcoins there either. You have to buy Linden dollars, then use those to buy Bitcoins, so you pay trading fees twice. The markets are thin and if you refuse to put a bid order on and wait for someone to fill it you will get a bad exchange rate. That's not a virwox tax, it's a result of thin markets.

This Bter page says it has a $2000 daily limit on USD withdrawals, and it looks like it has a 0% fee for them, but that can't be right.

https://bter.com/fee

However, the Rate standard link at the bottom of this translated OKcoin page says it has a fiat withdrawal fee of 0.1% (excluding bank transfer charges), a minimum of $15.

https://translate.google.co.uk/translate?hl=en&sl=zh-CN&u=https://www.okcoin.com/&prev=search

It also gives spot taker fees for trading, so it does have some trading fees.

Satoshi invented Bitcoin to give people a chance of avoiding exposure to another Lehman Brothers like collapse. If Deutsche bank fails people have Bitcoin's safety net, and will flock to it.

I don't think Bitcoin will save us all, but if Deutsche bank collapses think new blood will start buying Bitcoins and start a new rally. Lehman's collapse started a domino effect of bank collapses, and if Deutsche bank collapses people will anticipate the same domino effect and adopt Bitcoin's safe haven.

I remember buying 256 MB pen drives a decade ago, now I'm buying 32 GB pen drives for the same price, and they run at faster speeds than the old ones. In another ten years I'll be buying 3 TB pen drives for the same price, and there will be 30 TB pen drives available that I refuse to pay for until their price drops.

I'm not guaranteeing it will be $50,000 in four years, but I think it's probable. Who believed Bitcoin would go to $1200 when it was only $2 and its all time high was only $30? I think we are due another bull market like the last that exceeds expectations.

That's too conservative, it will be around $50,000. It didn't take four years to go from $2 to $1200, and it more than doubled every year. Four years is more than enough time for it to go to $50,000 after the bear market.

Deutsche Bank is Germany's only global bank, and it's big in America. Most worldwide banks have exposure to its debt, and if it falls it could bring them all down. If that happens the new worldwide banking rules let the failed banks bail themselves out by using customer's money to pay off the bank's debts.

No country wants to bail more banks out, so they all agreed to let the banks steal their customer's savings the next time they go bankrupt. There will be no government bailouts next time, and anyone who wants to keep their money safe will be looking at Bitcoin.

If you live in Europe you can send money from your bank to an exchange like Bitstamp for 10 cents, if you live outside Europe it will cost $10 or more. After you get money onto an exchange you can put a buy order on and wait until someone sells Bitcoins into it. That gets you a better price than buying into a Bitcoin sell order. You will get charged between 0.1% to 0.5% for the trade. Finally, when you withdraw your Bitcoins there might be a withdrawal fee. Bitfinex does Bitcoin withdrawals for free, but it was hacked this year. Bitstamp also does free Bitcoin withdrawals, but it was hacked last year. Other exchanges have varying fees.

The Chinese are all sleeping now, when they wake up in a few hours they could start buying again. The volume of Bitcoins traded has dropped significantly since China went to sleep. When China wakes and the volume picks up the price might pick up. The rise is not necessarily a whale making use of that news.

Didn't he transfer ownership of his latest mega businesses to his wife? I thought he was declared bankrupt a year ago and used his wife as a front to earn money through. If this new business earns thousands of Bitcoins they will probably officially be owned by his wife, and if anything goes wrong she will probably be held responsible.

It's better than another Mt.Gox-style bankruptcy for the customers, and the Bitfinex owners if Chinese prisons are as rough as Japanese prisons. Have you seen how much weight Karpeles has lost in a Japanese prison? He went in a fat blob and came out like a matchstick man.

If the same fate awaits the Bitfinex owners if they are jailed, then avoiding it through this recovery plan is the best deal they could hope for.

During Bitcoin's first year people would give away 50 or 100 Bitcoins because it had so little value.

There must be some recipients of those giveaways who still hold their coins. They are not millionaires yet, but if Bitcoin keeps going up in price they will be millionaires in the future without having invested anything.

I have witnessed weird things on the Kraken, like a day or two before the 2015 crash down to $150 on all the other exchanges. On the Kraken somebody briefly dumped the price down to that level two days in advance when the price was far higher elsewhere. The dump was over in seconds, but the buyer got dirt cheap coins. The Kraken has thin markets, but that trade struck me as weird nevertheless.

If we're lucky those Kraken 589.30300€ candles might be an indicator of the price on all the other exchanges in a few days.

In the last two weeks there was a double top at $700, and now there is a double bottom at $600+.

The conflicting chart patterns will confuse the traders and keep the price at $666. Bitcoin seems to like being at $666.