Bitcoin

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bmilner
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Re: Bitcoin

Post by bmilner » Mon Dec 23, 2013 12:06 am

it needs some sort of regulation and slow adoption, the price is pretty much based on speculation and people trying to turn a quick profit, which is exactly what happened in China. Got a fair few stashed away in cold storage that i bought ages ago, really tempted to sell a coin or two and go on some massive vinyl spree but I'm in it for the long haul!

day trading it can be quite fun, although I just end up spending the whole day staring at graphs- fucks with my mind
Last edited by bmilner on Mon Dec 23, 2013 12:13 am, edited 1 time in total.

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Re: Bitcoin

Post by bmilner » Mon Dec 23, 2013 12:10 am

rorz9992 wrote:
Phigure wrote:Market will go sideways if not down even further for a few months until another mini-bubble gets started and pushes the price past the all time high again
Yep looking to sell at that point, gonna be patient and play the long game but hopefully can cash out by the summer and make a decent profit!
yeh to be fair level prices will be good for it, but then income some good news and price will start rising and then people start panic buying. Until a fucking fat whale comes and dumps a shit load- I don't like how easy it is for some to manipulate the market.

anyway..roll on £10,000 a coin

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Re: Bitcoin

Post by Phigure » Mon Dec 23, 2013 12:20 am

bmilner wrote:it needs some sort of regulation and slow adoption, the price is pretty much based on speculation and people trying to turn a quick profit, which is exactly what happened in China. Got a fair few stashed away in cold storage that i bought ages ago, really tempted to sell a coin or two and go on some massive vinyl spree but I'm in it for the long haul!

day trading it can be quite fun, although I just end up spending the whole day staring at graphs- fucks with my mind
yeah ive banned myself from day trading for that reason, cant stop looking at charts :?

i doubt any sort of regulation is ever going to happen since the whole point of bitcoin is that it's decentralized. i think once different financial instruments come around (like bitcoin derivatives), they tend to give people more information about the market and will help to reduce the volatility. and as it slowly becomes more adopted as a currency/transfer of wealth, that'll help to stabilize it too
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Re: Bitcoin

Post by bmilner » Mon Dec 23, 2013 12:55 am

haha init! the graphs and speculation forum took up way too much of my time, especially with all this uni work. Absolute madness at times though, some people must have made/lost serious amounts.

what happened in China was surely a form of regulation? i know its decentralized but governments can still impose laws on it. I think the ease of money laundering is a big aspect that needs to be addressed as well as all the hoarders but that isn't really controllable, but either way we're still in for a long bumpy ride. This whole cryptocurrency thing is amazing to follow especially if you have libertarian views and yeh the other variations will do Bitcoin good, I just hope that Bitcoin won't flop and something like Litecoin gains mass adoption - solely cos i don't have any haha

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Re: Bitcoin

Post by Phigure » Mon Dec 23, 2013 1:18 am

bmilner wrote:haha init! the graphs and speculation forum took up way too much of my time, especially with all this uni work. Absolute madness at times though, some people must have made/lost serious amounts.

what happened in China was surely a form of regulation? i know its decentralized but governments can still impose laws on it. I think the ease of money laundering is a big aspect that needs to be addressed as well as all the hoarders but that isn't really controllable, but either way we're still in for a long bumpy ride. This whole cryptocurrency thing is amazing to follow especially if you have libertarian views and yeh the other variations will do Bitcoin good, I just hope that Bitcoin won't flop and something like Litecoin gains mass adoption - solely cos i don't have any haha
i mean i guess you can consider it regulation in some way, but what actually happened was just that china stopped banks and payment processors from transferring to bitcoin exchanges. bitcoin itself wasn't being regulated, just the exchanges in china. chinese people can still buy bitcoin on other exchanges, or sell them person to person without an exchange.

as someone with really strong anti-libertarian views, it often feels weird being a bitcoin supporter, since it has massive tax-avoidance, etc potential. but really it's inevitable that bitcoin or some other decentralized currency would have come along some day, so there's no point in resisting it imo. and the utility in being able to make anonymous transfers of money along with the security is just too good.

i wouldnt put too much faith in litecoin tbh, unlike bitcoin which actually does have somewhat of an economy tied to it, litecoin has almost purely speculative value. i dont think the advantages of litecoin (faster confirmation times) are going to give it enough momentum to overtake bitcoin. not to mention that the inventor of the cryptography used in litecoin has said that it was used improperly/insecurely by litecoin. short to medium term it still might be profitable but i think once bitcoin adoption is widespread, litecoin will be pretty much dead
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Re: Bitcoin

Post by Samuel_L_Damnson » Mon Dec 23, 2013 1:31 am

^ good ponints tbh. stlll going to mine ltc and trade it for btc for free wonga. until it gets too difficult to mine.
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Re: Bitcoin

Post by Phigure » Mon Dec 23, 2013 1:48 am

yeah thats definitely a good plan, sort of wishing i had gotten myself a litecoin mining rig instead of bitcoin ASICs

mining plain bitcoin has gotten to be hardly profitable (compared to the past) even with the price boom. just yesterday the difficulty jumped 30%. then again if you hold on to the coins and it goes wayyyy up then youre off really well
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Re: Bitcoin

Post by alphacat » Mon Dec 23, 2013 8:44 pm

zdnet wrote:
CryptoLocker's crimewave: A trail of millions in laundered Bitcoin

Image

Summary: CryptoLocker has infected an estimated 250,000 victims, demands an average $300 payout, and is trailing millions in laundered Bitcoin. Dell SecureWorks' new paper sheds light on the unstoppable ransomware.

Dell SecureWorks estimates that CryptoLocker has infected 250,000 victims. The average payout is $300 each, and millions in laundered Bitcoin have been tracked and traced to the ransomware's money runners.

Spreading like wildfire from offices to homes, it arrives in email attachments (or over infected networks) to aggressively encrypt all files on a system (including mapped drives, Dropbox files, and all locally connected, network-attached, or cloud-based storage) - while an ominous onscreen timer demands payment within 72 hours.

Mess with the files or decline to pay and forget about ever opening your files again.

To date, no one has successfully defeated CryptoLocker. The Windows-only ransomware has held rapt the attention of malware fetishists since its formal appearance in September.

The Swansea, Massachusetts police department was hit in November.

The officers paid CryptoLocker's ransom. Police Lt. Gregory Ryan told press that his department shelled out around $750 for two Bitcoin on November 10 - even then admitting his department had no idea what Bitcoin is, or how the malware functioned.


One Bitcoin address, one million dollars in a day

Dell's CryptoLocker report cites a Computer Science thesis from an Italian grad student who looked at a few known CryptoLocker Bicoin payment addresses while examining BitIodine.

The thesis reported a stunning take for one CryptoLocker address on one day:
In total, we identified 771 ransoms, for 1226 BTC (approximately USD 1,100,000 on December 15, 2013).
After tracing another Bitcoin address belonging to CryptoLocker and watching it move over six million dollars they concluded, "This suggests that our estimate of their racket is very conservative."

Dell SecureWorks released its detailed report on CryptoLocker Ransomware Wednesday, cementing what several researchers already knew about CryptoLocker's cruelly smart extrotion system. 

Dell's unwillingness in its paper to estimate precise ransom payment statistics has confused press reports thus far: many articles incorrectly report $30 million (beginning with this updated URL, now citing an obviously incorrect $300K). On our examination of Bitcoin addresses shared by victims online, the real number is likely in the hundreds of millions. SecureWorks admits the true payout number is "very likely many times that" which its own paper suggested.


Bitcoin is "most cheap option"

CryptoLocker is criminally simple - and strangely eloquent, if you're a supervillain. 

Dell's researchers estimate that between 200,000 and 250,000 systems were infected globally in the first 100 days after CryptoLocker's release. Carbonite, a cloud backup service, was reported in November to have been dealing with "several thousands" of phone calls from CryptoLocker-infected victims, and now have a dedicated team dealing with CryptoLocker recoveries. In research for this article ZDnet traced four bitcoin addresses posted (and re-posted) in forums by multiple CryptoLocker victims, showing movement of 41,928 BTC between October 15 and December 18.

Based on the current Bitcoin value of $661, the malware ninjas have moved $27,780,000 through those four addresses alone - if CryptoLocker cashes out today. If CryptoLocker's supervillans cash out when Bitcoin soars back up to $1000, like it did on November 27... Well, $41.9 million isn't bad for three months of work.

Many victims believe that CryptoLocker briefly moved its ransom sums through Bitcoin addresses to launder the bounty; just-dice.com was repeatedly cited as a digital "mixer" point.

The malware doesn't appear to the victim until all files are successfully encrypted (and in case you thought it was safe to proceed, you're not: CryptoLocker periodically scans for new files). 
CryptoLocker hides its presence from victims until it has successfully contacted a command and control (C2) server and encrypted the files located on connected drives.

Prior to these actions, the malware ensures that it remains running on infected systems and that it persists across reboots.

When first executed, the malware creates a copy of itself in either %AppData% or %LocalAppData%. CryptoLocker then deletes the original executable file.
Then, your files are swiftly and silently owned.
The encryption process begins after CryptoLocker has established its presence on the system and successfully located, connected to, and communicated with an attacker-controlled C2 server. This communication provides the malware with the threat actors' RSA public key, which is used throughout the encryption process.

(...) Instead of using a custom cryptographic implementation like many other malware families, CryptoLocker uses strong third-party certified cryptography offered by Microsoft's CryptoAPI.

By using a sound implementation and following best practices, the malware authors have created a robust program that is difficult to circumvent.
Dell's paper suggests CryptoLocker's puppetmasters are in Russia and Eastern Europe, with primary targets in the United States, as well as other English-speaking countries.


A "bastard and fiendish" idea

When all files have been encrypted, each victim is then presented with an ugly splash screen with an ominous countdown timer, demanding payment.

CryptoLocker honors ransom payments.

Upon submitting payment, victims' computers no longer show the threatening countdown screen and instead see a new payment activation window. In Dell's words, "During this payment validation phase, the malware connects to the C2 server every fifteen minutes to determine if the payment has been accepted. According to reports from victims, payments may be accepted within minutes or may take several weeks to process."

If you didn't pay, you gave up your files - and any new ones you made on your system after infection. To date, no one has successfully recovered files after CryptoLocker infection - unless they paid the ransom. CryptoLocker's ransom amount has varied since its debut in September, but currently sits at $300 (USD) and 300 Euro - the ransom price is typically listed in cash currency, and Bitcoin. Bitcoin instability over the past few months has prompted CryptoLocker's masterminds to reduce the ransom to 1 BTC, 0.5 BTC, and then to where it is currently: 0.3 BTC. At first, CryptoLocker included [two known] static bitcoin addresses for everyone who was infected. The current versons of CryptoLocker dynamically generate new bitcoin payment addresses for each infection instance.


CryptoLocker cares

In early November, CryptoLocker's clever writers added a new feature called the CryptoLocker Decryption Service. SecureWorks explained, "This service gives victims who failed to pay the ransom before the timer expired a way to retrieve the encrypted files from their infected system." Not surprisingly, CryptoLocker's "Decryption Service" is much more expensive than the original ransom - a hefty 10 BTC. And what if a victim's anti-virus software deletes the CryptoLocker executable before the ransom is paid?

According to BleepingComputer's thorough guide, CryptoLocker thought of this, too.

Rather than leave you high and dry with encrypted files, a key, and no way to unlock them, CryproLocker detects the deletion of its executable files and shows victims a message that contains a link to a decryption tool that victims can download in case this happens. BleepingComputer explains, "There are numerous reports that this download will not double-encrypt your files and will allow you to decrypt encrypted files." CryptoLocker has left such a wide swath of confused and angry victims that numerous forums where victims have been gathering online since September to share information about their experience, offering details in hopes of helping others.

Active IT threads on sites such as Reddit (r/sysadminr/techsupport, others) and BleepingComputer have ended up doubling as pseudo-support networks for those under CryptoLocker's timed gun. 

After taking everything in, one Redditor was moved to remark that CryptoLocker is a "bastard and fiendish idea."

We're sure they got the message.

It's widely accepted that CryptoLocker's masterminds lurk on blogs and forums about CryptoLocker (especially this thread), and have responded to infected user's issues, as well as "give other messages on the home page of their Command and Control servers."

Another Redditor writes,
The malware author has responded to people in forums, helping them pay and such, and has stated that the keys are not sent out on an automated process, but selected manually by him for deletion and sending for decryption.

He keeps the keys longer than the 4 days, and will troubleshoot moneypak codes not working, and will send the decrypt key as fast as he can after he gets the money. He knows each computer that has it, and each computer gets a unique key.
Still, no one has been able to draw a bead on who might be pocketing CryptoLocker's spoils.

Dell's new paper looks for clues in the malware authors' behavior patterns:
Analysis of the IP addresses used by the threat actors reveals several patterns of behavior.

The first is that the threat actors use virtual private servers (VPS) located at different ISPs throughout the Russian Federation and in former Eastern bloc countries.

The extended use of some of these hosts, such as 93.189.44.187, 81.177.170.166, and 95.211.8.39, suggests that they are located at providers that are indifferent to criminal activity on their networks or are complicit in its execution (such as so-called "bulletproof" hosting providers). The remaining servers appear to be used for several days before disappearing.
The researchers say they don't know if the servers are disappearing because ISPs are terminating CryptoLocker's service, or if it's because CryptoLocker's crimewave gang prefers to stay a moving target.


Tell mom and dad not to open every damn email attachment

The first instances as reported by SecureWorks explains that the first wave of infection was through targeted emails with attachments, and this appears to remain a common vector. The attachment, most of the time, is a .zip with a .PDF inside, which is actually an executable (.exe). The flawless malware spread out of office networks, and currently targets home computer users as well.

Dell's researchers noted that peer-to-peer (P2P) CryptoLocker infections began to appear in early October.
On October 7, 2013, CTU researchers observed CryptoLocker being distributed by the peer-to-peer (P2P) Gameover Zeus malware in a typical pay-per-installation arrangement. In this case, Gameover Zeus was distributed by the Cutwail spam botnet using lures consistent with previous malware distribution campaigns.

(...) Attached to the message is a ZIP archive containing a small (approximately 20KB) executable using a document extension in the filename and displaying an Adobe Reader icon. This Upatre malware downloads and executes Gameover Zeus, which in turn downloads and installs other malware families including CryptoLocker.

(...) As of this publication, Gameover Zeus remains the primary method of distributing CryptoLocker.
Dell's report explains that the first email wave, targeted at businesses, lured clicks by addressing professionals to notify them of a formal complaint. But outside of Dell's paper, victims report CryptoLocker emails coming from spoofed Xerox email addresses, emails about resumes, and a commonly cited subject line is "Payroll Report."
Mine came from a business source we deal with that had an attachment labeled "stores parts.zip" and a title of "Sent by email: stores parts.zip" -wisdom_and_frivolity
The SecureWorks paper brought together much of what has already been written about CryproLocker, tied a number of threads, and provides a solid marker moving forward.

Now, if only Dell products were coded with the maddening target-objective mindset and frightening efficiency of CryptoLocker...

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Re: Bitcoin

Post by test_recordings » Tue Dec 24, 2013 2:57 am

Sounds fun, where can I get some?
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Re: Bitcoin

Post by nowaysj » Sun Feb 02, 2014 7:31 am

Was looking for the main bitcoin thread, but this will have to do:

http://www.businessinsider.com/report-c ... ted-2014-1

CEO OF BITCOIN EXCHANGE ARRESTED
The CEO of BitInstant, a Bitcoin exchange, has been arrested at JFK airport and charged with money laundering.

Charlie Shrem, along with a co-conspirator, is accused of selling over $1 million in bitcoins to Silk Road users, who would then use them to buy drugs and other illicit items.

According to the criminal complaint, Shrem himself bought drugs on Silk Road.

"Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way," DEA agent James Hunt said in a release.

Shrem is a vice chairman at the Bitcoin Foundation. He is listed as a speaker at a Bitcoin conference in Miami that ended Sunday.

Shrem is believed to own a substantial amount of bitcoins.

BitInstant, which is backed by the Winklevoss twins, is currently offline. It was recently the subject of a class-action suit alleging misrepresentation of its services.

The arrest comes on the eve of a two-day state hearing about the future of Bitcoin in New York.

Here's the full release from the Justice Department. An embed of the full criminal complaint follows.

Read more: http://www.businessinsider.com/report-c ... z2s9BfnsEj
Here is a text version of the complaint:
Defendants Sold Bitcoins to be Used to Buy and Sell Illegal Drugs Anonymously on the Silk Road Drug Trafficking Website

Preet Bharara, the United States Attorney for the Southern District of New York, James J. Hunt, the Acting Special-Agent-in-Charge of the New York Field Division of the Drug Enforcement Administration (“DEA”), and Toni Weirauch, the Special Agent-in-Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”), announced the unsealing of criminal charges in Manhattan federal court against ROBERT M. FAIELLA, a/k/a “BTCKing,” an underground Bitcoin exchanger, and CHARLIE SHREM, the Chief Executive Officer and Compliance Officer of a Bitcoin exchange company, for engaging in a scheme to sell over $1 million in Bitcoins to users of “Silk Road,” the underground website that enabled its users to buy and sell illegal drugs anonymously and beyond the reach of law enforcement. Each defendant is charged with conspiring to commit money laundering, and operating an unlicensed money transmitting business. SHREM is also charged with willfully failing to file any suspicious activity report regarding FAIELLA’s illegal transactions through the Company, in violation of the Bank Secrecy Act. SCHREM was arrested yesterday at John F. Kennedy International Airport in New York, and is expected to be presented in Manhattan federal court later today before U.S. Magistrate Judge Henry Pitman. FAIELLA was arrested today at his residence in Cape Coral, Florida, and is expected to be presented in federal court in the Middle District of Florida.

Manhattan U.S. Attorney Preet Bharara said: “As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road. Truly innovative business models don’t need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act. We will aggressively pursue those who would coopt new forms of currency for illicit purposes.”

DEA Acting Special-Agent-in-Charge James J. Hunt said: “The charges announced today depict law enforcement's commitment to identifying those who promote the sale of illegal drugs throughout the world. Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way. Drug law enforcement's job is to investigate and identify those who abet the illicit drug trade at all levels of production and distribution including those lining their own pockets by feigning ignorance of any wrong doing and turning a blind eye.”

IRS Special-Agent-in-Charge Toni Weirauch said: “The government has been successful in swiftly identifying those responsible for the design and operation of the ‘Silk Road’ website, as well as those who helped ‘Silk Road’ customers conduct their illegal transactions by facilitating the conversion of their dollars into Bitcoins. This is yet another example of the New York Organized Crime Drug Enforcement Strike Force’s proficiency in applying financial investigative resources to the fight against illegal drugs.”

According to the allegations contained in the Criminal Complaint unsealed today in Manhattan federal court:

From about December 2011 to October 2013, FAIELLA ran an underground Bitcoin exchange on the Silk Road website, a website that served as a sprawling and anonymous black market bazaar where illegal drugs of virtually every variety were bought and sold regularly by the site’s users. Operating under the username “BTCKing,” FAIELLA sold Bitcoins – the only form of payment accepted on Silk Road – to users seeking to buy illegal drugs on the site. Upon receiving orders for Bitcoins from Silk Road users, he filled the orders through a company based in New York, New York (the “Company”). The Company was designed to enable customers to exchange cash for Bitcoins anonymously, that is, without providing any personal identifying information, and it charged a fee for its service. FAIELLA obtained Bitcoins with the Company’s assistance, and then sold the Bitcoins to Silk Road users at a markup.

SHREM is the Chief Executive Officer of the Company, and from about August 2011 until about July 2013, when the Company ceased operating, he was also its Compliance Officer, in charge of ensuring the Company’s compliance with federal and other anti-money laundering (“AML”) laws. SHREM is also the Vice Chairman of a foundation dedicated to promoting the Bitcoin virtual currency system.

SHREM, who personally bought drugs on Silk Road, was fully aware that Silk Road was a drug-trafficking website, and through his communications with FAIELLA, SHREM also knew that FAIELLA was operating a Bitcoin exchange service for Silk Road users. Nevertheless, SHREM knowingly facilitated FAIELLA’s business with the Company in order to maintain FAIELLA’s business as a lucrative source of Company revenue. SHREM knowingly allowed FAIELLA to use the Company’s services to buy Bitcoins for his Silk Road customers; personally processed FAIELLA’s orders; gave FAIELLA discounts on his high-volume transactions; failed to file a single suspicious activity report with the United States Treasury Department about FAIELLA’s illicit activity, as he was otherwise required to do in his role as the Company’s Compliance Officer; and deliberately helped FAIELLA circumvent the Company’s AML restrictions, even though it was SHREM’s job to enforce them and even though the Company had registered with the Treasury Department as a money services business.

Working together, SHREM and FAIELLA exchanged over $1 million in cash for Bitcoins for the benefit of Silk Road users, so that the users could, in turn, make illegal purchases on Silk Road.

In late 2012, when the Company stopped accepting cash payments, FAIELLA ceased doing business with the Company and temporarily shut down his illegal Bitcoin exchange service on Silk Road. FAIELLA resumed operating on Silk Road in April 2013 without the Company’s assistance, and continued to exchange tens of thousands of dollars a week in Bitcoins until the Silk Road website was shut down by law enforcement in October 2013.

* * *

FAIELLA, 52, of Cape Coral, Florida, and SHREM, 24, of New York, New York, are each charged with one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and one count of operating an unlicensed money transmitting business, which carries a maximum sentence of five years in prison. SHREM is also charged with one count of willful failure to file a suspicious activity report, which carries a maximum sentence of five years in prison.

Mr. Bharara praised the outstanding investigative work of the DEA’s New York Organized Crime Drug Enforcement Strike Force, which is comprised of agents and officers of the U. S. Drug Enforcement Administration, the New York City Police Department, Immigration and Customs Enforcement - Homeland Security Investigations, the New York State Police, the U. S. Internal Revenue Service Criminal Investigation Division, the Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, U.S. Secret Service, the U.S. Marshal Service, New York National Guard, Office of Foreign Assets Control and the New York Department of Taxation and Finance. Mr. Bharara also thanked the FBI’s New York Field Office.

Mr. Bharara also noted that the investigation remains ongoing.

The prosecution of this case is being handled by the Office’s Complex Frauds Unit. Assistant United States Attorney Serrin Turner is in charge of the prosecution, and Assistant United States Attorney Andrew Adams of the Asset Forfeiture Unit is in charge of the forfeiture aspects of the case.

The charges contained in the Complaint are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

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Re: Bitcoin

Post by Phigure » Sun Feb 02, 2014 8:42 am

he was a chairman of the bitcoin foundation but since resigned
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Re: Bitcoin

Post by nowaysj » Sun Feb 02, 2014 8:45 am

You, fig, can you like keep us updated on bitcoin?

Can you be the snh's bitcoin corespondent?

Keep us abreast of the bitcoin haps?
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Re: Bitcoin

Post by Phigure » Sun Feb 02, 2014 8:49 am

long term price thoughts for anyone who wants to invest:

these last few months, after reaching the all time high (~$1200), the price corrected and started bouncing around in a sine pattern from 1000 to about 750. it's stabilized over time despite a chinese regulatory deadline on the 31st (the announcement of which triggered the price correction). everyone was kind of dreading the 31st which kept volume low, but it passed without any sort of price crash, so...

the bitcoin price does these cycles of mini-bubbles, post crash consolidation to somewhere between the previous high and the new all-time high, and then a new mini-bubble to a new all-time high. i think the market's about to go into an uptrend, and within a month or two (maybe three, who knows) the next mini-bubble will probably happen (i'm guessing a new high of maybe up to 4k).
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Re: Bitcoin

Post by nowaysj » Sun Feb 02, 2014 8:52 am

And what happens if every exec running an exchange ends up in cuffs?
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Re: Bitcoin

Post by Phigure » Sun Feb 02, 2014 9:01 am

nowaysj wrote:And what happens if every exec running an exchange ends up in cuffs?
won't happen, most of the big ones are legitimate businesses.

bitinstant accounted for a tiny tiny percentage of bitcoin volume, it was really insignificant. it wasn't even an exchange truly, it was just a bitcoin seller

as for actual exchanges, the only one that's sketchy is mt.gox, which used to be by far the biggest exchange but has fallen off to become smaller than others like bitstamp and btc-e. gox hasn't completed bank transfer to the US in months, trading API issues have caused/worsened a handful of crashes, and now lately they've even started having issues with people withdrawing bitcoin from the exchange. it's gonna go belly up soon and depending on how it goes, there could be a decent (temporary) crash (ie, good time to buy coins)

bitcoin will be much better off when mt.gox finally dies
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Re: Bitcoin

Post by nowaysj » Sun Feb 02, 2014 9:10 am

You're hired kid, welcome to The Daily Planet.

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Re: Bitcoin

Post by Phigure » Sun Feb 02, 2014 9:13 am

ffs :james:
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Re: Bitcoin

Post by nowaysj » Sun Feb 02, 2014 9:14 am

You gotta admit, it does kind of resemble you.
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Re: Bitcoin

Post by Phigure » Sun Feb 09, 2014 5:07 am

Phigure wrote:as for actual exchanges, the only one that's sketchy is mt.gox, which used to be by far the biggest exchange but has fallen off to become smaller than others like bitstamp and btc-e. gox hasn't completed bank transfer to the US in months, trading API issues have caused/worsened a handful of crashes, and now lately they've even started having issues with people withdrawing bitcoin from the exchange. it's gonna go belly up soon and depending on how it goes, there could be a decent (temporary) crash (ie, good time to buy coins)

bitcoin will be much better off when mt.gox finally dies
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well i guess i called it. has dropped from 900 to ~650 within a day

edit: lol
Last edited by Phigure on Tue Feb 25, 2014 10:50 am, edited 2 times in total.
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Re: Bitcoin

Post by Phigure » Sun Feb 09, 2014 5:10 am

it's impossible to predict how long it'll take to recover, but like I said, now is probably the best time to buy if you want to get in. I dont see the price dropping below 600 realistically, and this might be the last time coins are this cheap
j_j wrote:^lol
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