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81  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 08:31:34 PM
What if, letīs say i sold some bags of heroin on SR.2.0, just to make sure that i have enough money to feed my kids and get some fresh brown powder for me, and i would cash that out through Bitstamp. Would i be considered as a criminal? Is it more likely that my funds would get frozen? Or is the risk just as high as for anyone else? I thought drugs are legal in Slovenia? Could Bitstamp still get problems if they helped me selling my "drugmoney"? Until now it worked pretty fine.
Sigh.  Keep trying, perhaps I will learn to love bitcoin this way. 
82  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 07:58:05 PM
I got a small deposit (100€) in yesterday at Bitstamp and now they want me to answer 5 questions.
[ ... ]
Probably it is not Bitstamp that selects the unlucky customers who will get those questionnaires.  There may be some agency that checks all deposits (by hand or through some algorithm) and picks the "suspicious" ones, that Bitstamp is required to question further.

"Artificial intelligence" algorithms are now routinely used by banks to spot possible card theft, and by governments to spot possible tax evasion. 
83  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 05:04:10 PM
Fortunately for you, if these things bother you and you'd rather have a malleable money supply managed by unelected officials who can seize funds and reverse transactions at will: you are well served with the current monetary paradigm - be it Keynesian, monetarist or neocon - the differences are of cosmetic character, really.

Those of us with the (obviously wrong!) view that a monetary system should be predictable and not prone to manipulation by individuals have been longing for the chance to try out something like that. It will quite obviously fail, because centralized systems run by experts are naturally superior to decentralized systems run by no one but some people just need to convince themselves on their own, deferring to the wise opinions of experts is not enough for them. And who knows - if by some freak accident such a monetary system turns out to be better than what we have now, you will benefit as well Wink
My preferences are not important.  The point is that a system that does not allow the forcible return of stolen property will not be acceptable to society, except for thieves and other criminals.  In the end, it will be rejected even by the libertarians who now think that irreversibility is a good thing.
84  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 04:32:34 PM
I think its going back to 530-500 levels for some time, which will probably get some bears very excited about reaching single digits in no time and stuff.
Nothing but good news and nothing but people dumping.
My original technical analysis method predicts that at 14:17:02 on September 23, 2018 (UTC), Western traders will begin to suspect that any news that is irrelevant to the Chinese traders has no effect whatsoever on the price of Bitcoin.   

But my TA is often wildly optimistic, beware.
85  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 02:26:17 PM
What's notable is that Trolfi admitted he couldn't be argued out of his position, so only empirical evidence will convince him.
The original poster asked what I would consider proof of success.  Obviously that can only be empirical.

Logic can only change someone's expectations of success.  I could be argued out of my position, but I see big flaws in the supporter's arguments (like "the price will go to the moon because the supply is limited") which they refuse to acknowledge. Why should I change my expectations then?

That's bullshit. I asked you what it would take to convince you of the merits of Bitcoin and you responded that I shouldn't bother to even try.
Sorry, I may have confused you with someone else who asked me what I would consider proof of success.  I stand by my reply to that.

As for your question, I can see some merits of bitcoin, like the offline creation of address-key pairs with cryptographically signed "checks", and the totally open ledger.  Other things that you apparently consider merits I see as flaws, possibly fatal.  Like the impossibility of seizing stolen coins and returning them to their rightful owners, or correcting mistakes like sending coins to the wrong address.  (Those who do not see that as a problem obviously never did any real accounting.)  Or the dangerously misleading pretense of anonymity.  Or the intentional inefficiency of mining.  Or the impossibility of proving that you do NOT own an account. Or the fixed supply.

As for the economic model, why does it matter?  The prediction of "going to the moon" and its refutation are based on elementary supply-demand logic.  An economic model that does not include that is not worth considering.

(But I have lived under both monetarist/neocon/reaganomic and Keynesian governments, and I am for the latter all the way.  Like 80% of my countrymen, workers and industrials alike.  Have you been through the 2008 economic crisis?  We heard something about it, yes.)
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86  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2014, 06:13:19 AM
[ Plot of wallet numbers allegedly showing growing interest in cryptocurrencies ]
http://media.coindesk.com/2014/05/Screen-Shot-2014-05-28-at-11.59.49-AM.png
Those plots show total wallets created up to a certain date, correct? Which means that the numbers plotted would keep increasing even if actual usage was decreasing?

87  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 11:09:59 PM
Have we already seen the full extent of the effect of the Willy Bot news? If it gets more substantiated in some way, would we face more negative sentiment? How did the story affect holders who may have bought based on that perceived buying pressure in the last bubble?
I personally didn't put much serious consideration into the Willy nonsense.
I won't call it nonsense, the analysis of the database is helpful, and one can see the effect of Markus/Willy on the MtGOX price very clearly.

However I don't agree with the author's theory that those traders/robots caused the 2013 bubbles; I believe that the robots merely copied them from elsewhere (China probably) to MtGOX, by doing arbitrage.

That makes some difference on the possible impact of the report.

If the bubbles were created by Markus/Willy, then, after the closure of MtGOX, the price has been holding itself up by its bootstraps,  and could collapse at any moment -- especially if the market reads that report and agreees with it.

On the other hand, if the bubbles were due to Chinese demand, then the price has been sustained by that demand, independently of MtGOX, and should stay up as long as that demand continues to exist, report or no report.
88  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 10:45:06 PM
I don't feel you're looking at this objectively and I also think you do your students a disservice by casting blanket dispersions on something that has the potential to offer them quite a bit of opportunity. You remind me of talking heads back in the 90s telling everyone to stay away from that dangerous internet because it would corrupt public morality.
Again, our computer science undergrad students surely have learned about bitcoin well before I did, and are smart and adult and capable of judging for themselves.  Some may be busy creating their own altcoins or bitcoin-based businesses, scams or not.  I can't do anything about them.  (That "student" I just mentioned is actually ex-grad, from the Mathematics department, who did his PhD last year on an applied math topic.) What bother me are the attempts to sell bitcoins to people who know nothing of computing, much less of computer security.

People may have said "internet corrupts"  in the 90s, but it was bullshit. (The people around me in the 1980s and 1990s certainly did not say that.)  "Bitcoin-related investments are often scams or failures" is not bullshit, unfortunately.
89  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 10:20:50 PM
Every time you buy a bitcoin, you're giving Hitler a punch in the face.
Is it really?

I wonder what the neo-nazis, Aryan supremacists, Ku Klux Klansmen etc. think of bitcoin.  (Any pointers?)

At least some posts I saw on this forum (not on this thread, IIRC) were more than a bit worrying in that regard.   

(By the way, I must say that this thread, besides having the highest "liquidity" by far in this forum (often the only one that shows on my watch list), and the broadest variety of topics, also has overall the best karma.  Most people here are speculators who just want to get rich by outsmarting other speculators -- a goal that I can't find fault with.  Some of the other threads, on the other hand, would provide abundant material for several PdD theses in clinical psychiatry.  I don't like American football at all, but would rather hang out in a sports bar than in a lunatic asylum.  Cheesy)
90  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 09:49:17 PM
Sorry Jorge I can't help myself,  I just need to know why? 

Because 90% of what has "bitcoin" in it IS scams or stupid ideas.  Starting with attempts to convince the unwary to buy bitcoins "because they will go to the moon" or "a hedge against inflation" etc..

For example, I  already mentioned a couple of days ago that student of mine who had been offered to join some GPU-based bitcoin mining enterprise.

I have to check who is on the board of the Brazilian Bitcoin Foundation.  I would almost bet that the creator of the BitcoinRain ponzi is there.

91  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 04:26:55 PM
Imagine a room full of people, not a big room (a large garage maybe) and they and cooperating to build something.
I don't think that is a good analogy for this thread...  

Rather, a bar where a couple hundred random football fans are watching a game on TV and betting on it?   Wink
92  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 04:19:05 PM
Look, the thing is that although you make some useful points, and you are consistently polite in doing so, you are becoming increasingly strident. The fact that you very selectively choose what to argue - and a lot of people have made some very good points against some of your mistaken assumptions recently - means that it's not really worth engaging with you. Literally no point, because you appear to ignore anything that doesn't fit with what you already believe and move on.
Obviously I argue while I believe I am right.  If a reply is convincing, I let the poster have the last word.  Isn't that enough?

But there are MANY reasons why I am skeptical of bitcoin's success, and many of the replies that I get are not only unconvincing, thet are just countering facts with statements of faith:

   Me: "Goevernments can effectively ban bitcoin, see China for example."
   Them: "Bitcoin is like the internet, it will find a way around any obstacle."

   Me: "Bitcoins may be scarce, but there are plenty of cyptocoins with equivalent or better protocols"
  Them: "Cryptocoins will die and bitcoin will not."

   Me: "Bitcoin is now more prone to theft and fraud than credit cards, see the numbers."
   Them: "Bitcoin will be much safer when it matures."

   Me: "Mining is already concentrated in a few companies, they may form a cartel and become like the bankers."
   Them: "It is a free market so that will not happen."

   Me: "The Satoshi 2009 blockchain already assigns XX% of all the money to a few thousand people."
   Them: "Wealth distribution will improve with time."

And so on and on.  Obviously I am not convinced by such answers, but how can I argue with statements of faith?



93  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 01:21:03 PM
I just bought my first bitcoin. Exciting. Could some please share the actual S.R. 2.0 link. Thanks.

I really like what you did there.
That newbie is not me.

The Bitcoin Goddess is NOT PLEASED.  Guess what She does when She is not pleased.
94  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 01:16:36 PM
Thanks you very much, this really means a lot to me, especially coming from you... I rarely read your posts because they are boring as hell and most of the time they do NOT contain any information or entertainment. Thanks anyway. Also:

WELCOME TO MY IGNORE LIST!
That is fake user (note the spelling). IT IS NOT ME.
95  Bitcoin / Bitcoin Discussion / Re: The Bitcoin Foundation-fraudsters, pedophiles, murderers ,fat fucks and scammers on: May 28, 2014, 08:42:47 AM
I love the protocol, but not the scumlords fucking it up. Sadly, I'm seeing reasons to believe Bitcoin was created with nefarious intent in mind, namely power/money, by entities possessing the same.
I am skeptical that bitcoin will succeed in the long term, but I do not yet see its origins with that pessimism.  Not all the time at least.  Wink

I may have missed it, but in Satoshi's paper I did not see any goal stated, other than creating a payment system without a central trusted authority.

I have not read Satoshi's conversations with his "Prophets", but the sense that I get from the Writings by the latter is that, when bitcoin was being implemented, the goal had become, more explicitly, create an economy that governments and banks could not control, within the broader libetarian goal of creating an anarchic society etc.

More recently (especially since the 2013 bubbles) bitcoin was run over by an army of crooks and scammers, attracted by the promise of huge gains, by the (presumed) anonimity of accounts, by the lack of legal rules, by the rich but gullible public, etc.  These crooks are motivated by profit, although they may be (more or less reluctant) agents of the government too.

96  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 07:46:34 AM
By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?
As far as I know, they still have withdrawals, but not deposits, via bank-to-bank transfers.

Huobi however has a "recharge card" system (it is on their homepage), clients put money into the card somehow and then use the card to deposit CNY.

OKCoin has a few "broker" clients who have large accounts in the exchange, or some special way to move money in.  Ordinary clients send money to the brokers, without involving OKCoin, and get from them "recharge codes" that entitles them to transfer money from the broker's account at OKCoin to their own.

I do not know about other exchanges.

I do not know whether those arrangements are acceptable to the government (PBoC is only one of several agencies concerned about bitcoin and the exchanges).  Several banks and payment processors have posted a standard notice that they will close any account that is used to trade bitcoin, and ask the public to denounce any such thing.  On the other hand, it is possible that the exchanges got some respite, permanent or temporary, with their joint promise (in early May) of cleaning up their act.

In any case it seems that deposits are still possible, although perhaps not as convenient as before.

That is what I understood of the situation until recently, I don't know if there have been recent changes.
97  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 07:15:24 AM
If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

To allow them to make up their own minds and form their own opinions about it maybe?

As suspected, you seem to think that just because you think a certain way about Bitcoin technology, everyone should and eventually will do so as well.
Let me say it again: if I believe that the medicine you are selling is snake oil, why should I give you a mailing list of people for you to send them free samples and advertising?

Your students will get bitcoins (if they wish - we will not be forcing our opinion on anyone) and there is nothing you can do to stop it Wink
And that is what I wrote.
98  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 07:09:03 AM
Whats even worsed is hes on a bitcoin forum posting daily about something he doesnt believe in lol classic trollism 101...
And even worse, having to scroll through dozens of replies to every post of mine, by people who have nothing useful to say about bitcoin, but think it is important to discuss my person. 
99  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2014, 06:59:00 AM
2. Thanks again for the offer, but I would rather not have any bitcoins, and I do not intend to help distributing bitcoins to anyone, my students or not.  I am sure you will find charities or other worthy projects that will make much better use of the money.
But what about distributing free bitcoins to other people? What is your rationalization for declining that offer?  Or are you afraid, that people will get hooked on it, just like if we offered them free heroin? You want to protect them from themselves, because you're convinced you know best what's good for other people? How about letting them form their own opinion?
If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

I am not preventing you from doing anything, and in fact (unfortunately) there are already plenty of bitcoin "salesmen" here in Brazil.  Surely all our students have learned about bitcoin, and well before I did.  I hope they are smart enough to see through the hype, but they are adults and will make their own minds. (The "salesmen" are after other kind of people, however.) Brazilian hackers have created at least three altcoins already, and we have a good choice of bitcoin scams, popped or ongoing.
100  Economy / Service Discussion / Re: More proof that savegox.com is a sham. on: May 28, 2014, 05:36:39 AM
Slow there... I am sure that even half of the truth will be stranger and scarier than a triple dose of fiction.

EDIT: is that Elvish script at the top and bottom of the seal?  Could there be a connection to Mordor too?  Wink
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