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Chance
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This needs to be moved to chit chat.

6/14/2011 2:00:42 PM

GeniuSxBoY
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Your account needs to be moved to the garbage bin.















*and this thread should be moved to chit chat.

6/14/2011 2:02:25 PM

EuroTitToss
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TECH TALK

6/14/2011 2:53:42 PM

GeniuSxBoY
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Lol I put 1 share bid for $18.002 and got .99 of it. I was .01 shy of the predicting the vertex of the drop. That way if it gets to $22 again, I'll make $4, else I don't mind losing 1 bitcoin lol

6/14/2011 4:49:18 PM

GeniuSxBoY
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bah, I can't do anything with this.

The volume is only 36750 whereas it was 136810 the other day. I think it's at fair value now..

6/14/2011 7:24:32 PM

Grandmaster
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136810 people told you that you missed the boat like 4 pages back.

6/14/2011 7:36:15 PM

GeniuSxBoY
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just jumped $1.50



~

6/14/2011 8:03:01 PM

GeniuSxBoY
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Always get cold feet. I made $1.52 today off 1 share


learning takes time :/

6/14/2011 9:09:25 PM

GeniuSxBoY
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So I have a question.



People Die...
People Lose their account information...


If bitcoins are finite, are those bitcoins lost forever?

6/14/2011 9:49:07 PM

Grandmaster
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I direct my executors, without apportionment against any beneficiary or other person, to recover all instances of wallet.dat payable by reason of my death.

6/14/2011 10:08:04 PM

EuroTitToss
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^^Problem?

I MINED ALL NIGHT AND MADE .1 USD! WHAT NOW, BITCHES?

6/15/2011 8:12:32 AM

dakota_man
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Bitcoin user loses 25k bitcoins when his machine is hacked

That was around $500,000. Basically he had all his bitcoin stuff unencrypted on a machine with a virus on it. Somebody probably remoted in to his computer and transferred all of his bitcoins away. Could be an elaborate hoax, and it's hard to believe somebody would be that stupid with that much (potential) money, but the transactions were verified as having happened, at least.

Original forum thread: http://forum.bitcoin.org/index.php?topic=16457.0

Reddit topic: http://www.reddit.com/r/geek/comments/hzrcc/bitcoin_user_loses_25k_bitcoins_when_his_machine/

6/15/2011 10:44:17 AM

GeniuSxBoY
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Yep, trojans already exist for bitcoin. Not surprising.


Bitcoin is pretty stable right now between $19.50 and $20.00. I don't like stability.

6/15/2011 12:51:30 PM

EuroTitToss
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^I was just thinking that. My plan of profiting off these huge market swings has been foiled unless we see some more volatility. Anything less than 1.5% is pointless, since there is a .65% fee per trade on mtgox.

6/15/2011 1:00:33 PM

GeniuSxBoY
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Right now, my money is sitting and ready. It's only a matter of time before another news articles comes out.

BIG events with USD and Congress and QE3 will certainly either boost or bust the bitcoin value. If Congress fucks up the budget, I expect bitcoins to skyrocket.

If by the grace of God that Congress doesn't fuck up, I expect bitcoins to stay dormant.

BUT from what I've heard, we're in a YOU'RE DAMNED IF YOU DO/DAMNED IF YOU DON'T situation with the budget.

6/15/2011 1:43:33 PM

GeniuSxBoY
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I think the budget thing comes in August so I'm keeping my money in my account for at least that long.

6/15/2011 1:46:20 PM

GeniuSxBoY
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The only way the market is going to move again is if someone either

a) buys a ton of shares
b) sells a ton of shares.


Which one do you predict will happen first?

If A) then you should buy in right now
If B) then you're better off procrastinating.

6/15/2011 1:58:18 PM

d357r0y3r
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As long as people are viewing Bitcoin as an investment, it has no chance of becoming a currency with long-term viability. Currencies are supposed to be stable, so people feel like it has similar value from day to day. I'd rather use dollars for now, even if they're guaranteed to lose value over time, than Bitcoins that can fluctuate between 1 and 100.

6/15/2011 2:01:26 PM

GeniuSxBoY
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Exactly, it's an investment right now.

The fact that it's stable means it's able to be used as currency, minus the fact it doesn't have a history of being stable. It's brand new still and the distribution is in the hands of non-investors and investors. More coins are being generated and given to non-investors that just want cash.


Remember: 5% of the world owns 95% of the world's wealth.

Hypothetically, if you take all the money in the world and divide it up evenly, it will only take 5 years for 95% of the wealth to be controlled by 5% of the people again.

[Edited on June 15, 2011 at 2:28 PM. Reason : .]

6/15/2011 2:26:54 PM

spöokyjon

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So the 24 hours of stability means it's safe to use as a currency? Good to know.

6/15/2011 2:29:23 PM

GeniuSxBoY
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http://bitbills.com/


Updates

Card preorders available now!

NOTE: Due to overwhelming demand, preorders will not be filled for a minimum of 3 MONTHS.

6/15/2011 2:35:56 PM

mrfrog

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Quote :
"Bitcoin user loses 25k bitcoins when his machine is hacked

That was around $500,000. Basically he had all his bitcoin stuff unencrypted on a machine with a virus on it. Somebody probably remoted in to his computer and transferred all of his bitcoins away. Could be an elaborate hoax, and it's hard to believe somebody would be that stupid with that much (potential) money, but the transactions were verified as having happened, at least.

Original forum thread: http://forum.bitcoin.org/index.php?topic=16457.0

Reddit topic: http://www.reddit.com/r/geek/comments/hzrcc/bitcoin_user_loses_25k_bitcoins_when_his_machine/"


lol omg this has to be the most monetarily successful hacking job on the general internet this year.

6/15/2011 2:52:57 PM

EuroTitToss
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I don't fully understand the commentary, but I like seeing the rise and crash in one graph.

6/15/2011 5:33:11 PM

GeniuSxBoY
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hmm< i didnt think about the dark room people>

the $25 mark will be a huge hump to climb over

6/15/2011 5:52:24 PM

Kris
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You see somewhat similar things with mutual funds, basically he's talking about someone who had a whole lot of shares listed to sell at 19. This creates a ceiling at 19 as anyone who wants to buy can buy at 19 and anyone who wants to sell cannot sell above 19. This guy then points out how the guy who was doing the sell at 19 should have let his sells work a bit looser so he could have realize the gain as the market willingly purchased the shares he was trying to offload.

Unfortunately doing large loads and unloads of shares are difficult, because if you sell all at once, you're going to force the market down with that kind of volume. If you do it as a fixed price your best case is missing those gains in your favor like this, and your worst case is taking a good deal of time to get rid of or purchase them. What you have to do is space your buys and sells out, but that still prevents you from buying or selling quickly.

I don't think you can really blame the guy with the large sell, because he wanted cash, he wanted it quick, and he only expected to get 19 for it. He could have raised his sell price to 30, but it would have taken him much longer to sell it, if he ever did get it sold.

6/15/2011 6:10:15 PM

Kris
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What he really should have done was kept his price at 19, then bought anything less, and kept selling at 19, hell or he could have done that for a while then bounced a price up 5, done the same thing, bounced the price up 5 more, etc, etc. I'm amazed you can get a bit of a corner on that market. You guys should probably watch out for that.

6/15/2011 6:12:44 PM

GeniuSxBoY
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The catch is...

Quote :
"The Mt Gox dark pool allows you to buy or sell large quantities of BTC without moving the market.

You can mark any buy or sell order with a value over $1000 as being in the dark pool. "



You must have a big order to use it

6/15/2011 6:47:34 PM

Kris
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Well you could take advantage of it by buying short. If it's staying near the top of the pool, you know it will spike.

6/15/2011 6:58:37 PM

EuroTitToss
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Quote :
"This creates a ceiling at 19 as anyone who wants to buy can buy at 19 and anyone who wants to sell cannot sell above 19."


Ah. I thought it was something like this, but I didn't get how dark pools would "spill over." After further consideration, it must be "dark and normal":

Quote :
"Dark pool and Normal - Can be filled either partially from the normal orders or the dark pool.
Dark pool Only - Can be filled only by other dark pool orders or a single normal order that is larger than the dark pool order. This means that if there is a single normal order that would fill the dark pool order both will be filled."


A dark pool at $20 makes perfect sense... I was wondering why the fuck it wouldn't ever get above that. If there is a large dark pool at $20 that is running out, wouldn't that imply that the market is about to experience a jump soon?

6/15/2011 8:22:11 PM

GeniuSxBoY
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The more I study stocks behavior, it seems like a giant mosh pit between the bidders and the sellers.

6/15/2011 8:44:53 PM

GeniuSxBoY
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Reached a 48 hour low just now.

6/15/2011 9:14:20 PM

Kris
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Quote :
"A dark pool at $20 makes perfect sense... I was wondering why the fuck it wouldn't ever get above that. If there is a large dark pool at $20 that is running out, wouldn't that imply that the market is about to experience a jump soon?"


It would if the price remained close to 20, you should make a long call in that scenario. However the price would not go up until the sell ran out, because someone is still offering at 20, why would you buy anything above 20 until it ran out?

[Edited on June 16, 2011 at 12:34 AM. Reason : [b]/b]]

6/16/2011 12:31:40 AM

GeniuSxBoY
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ALERT crazy shit happening ALERT

6/16/2011 4:23:10 PM

GeniuSxBoY
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Im going in at 18.2002

6/16/2011 5:37:01 PM

GeniuSxBoY
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I'm in like flynn. wish me luck

6/16/2011 5:39:58 PM

GeniuSxBoY
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Major selloff occuring.

6/16/2011 7:59:19 PM

Chance
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We don't give a fuck. I hope you lose your shirt.

6/16/2011 8:00:20 PM

GeniuSxBoY
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chance, this isn't chit chat.

6/16/2011 8:09:34 PM

smc
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1.) Buy confederate money.
2.) Act surprised when government shuts that shit down or it collapses on itself.

[Edited on June 16, 2011 at 8:15 PM. Reason : .]

6/16/2011 8:13:13 PM

A Tanzarian
drip drip boom
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http://arstechnica.com/security/news/2011/06/new-malware-steals-your-bitcoin.ars

6/17/2011 10:25:20 AM

smc
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bitcoins might be the greatest pyramid scheme ever. The early adopters are using these suckers to cash out as we speak.

6/17/2011 5:27:31 PM

EuroTitToss
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damn, genius sex boy. you're down 25% right? are you panicking?

6/17/2011 5:41:30 PM

CaelNCSU
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Pyramid scheme? More likely is that someone who had a lot of Bitcoins seeded the story about silk road to the press and got some political figures up and arms. When everyone realized it could be used for illicit purposes and money laundering the value skyrocketed.

Whoever did that is genius. I think it's much bigger than a pyramid scheme.

6/17/2011 10:25:12 PM

GeniuSxBoY
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Quote :
"damn, genius sex boy. you're down 25% right? are you panicking?"



Yeh I panicked @ 13.65 bout 5 minute before it shot up to $17 and down to $13 and back up to $16.


I was betting on it getting to $10.50 again so I cashed out and was going to rebuy shares when it decreased to $10.50, but again, it shot up $3 unbeknownst to me I didn't even realize that was possible.


I lost ~$50 but I'm still up $40. You win some, you lose some. Like putting money into a slot machine really.

6/17/2011 10:38:59 PM

mbguess
shoegazer
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Mt. Gox going haywire. Price mysteriously drops to .01. Volume is 545320. ?!?!

6/19/2011 2:54:04 PM

EuroTitToss
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^ https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback

6/19/2011 3:19:00 PM

EuroTitToss
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http://forum.bitcoin.org/index.php?topic=19543.0

reset your password if you have an account

GeniuSxBoY, you're in there

http://allaroundpizza.com sup?

[Edited on June 19, 2011 at 3:41 PM. Reason : safasf]

6/19/2011 3:27:49 PM

GeniuSxBoY
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yeh, I was waiting for something like that to happen... I'm not in the game right now. I withdrew all my funds when it said Mt gox was haxors and people were losing not only bitcoins, but cash money too, yesterday.

[Edited on June 19, 2011 at 4:09 PM. Reason : .]

6/19/2011 4:08:50 PM

bbehe
2019 Egg Champ
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How exactly does a rollback work? What about all the people who gained a shit load of money or lost it?

6/19/2011 4:19:50 PM

GeniuSxBoY
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when you send bitcoins to mt gox, mt gox owns them and keeps them in their own pool.

All mt gox has to do is change the values in their interface rather than to change ownership of the bitcoins.

In other words, they just have to mess with their own code to restore values.

Because Mt Gox charges fees, they're able to afford replacing money that was stolen by the hacker.

6/19/2011 5:06:35 PM

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