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Powershift
Nov 23, 2009





It was actually a $0 bitcoin scam because the dude couldn't cash out.

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Powershift
Nov 23, 2009




LethalGeek posted:

China told exchange operators to not leave Beijing this is good for bitcoin hahahahahahahahah

I guess they're gonna find out what mining really is

Powershift
Nov 23, 2009




Topographic Nap posted:

How are drug dealers able to accept bitcoin if they can't get real money out of the exchanges? Overseas banks + higher laundering fees?

BTC-E was money laundering organization masquerading as an exchange,

I'm sure a few others are as well.

Powershift
Nov 23, 2009




Uranium 235 posted:

So what was actually going on, were the exchanges in China spoofing their trade histories?

Yes, it's called wash trading.

Bitfinex does it every time they need to bump up the price with the new tethers they printed.

When bitcoin dropped to $3k, they suddently found another $50m in their bank account and within a few hours there was 50,000 btc worth of trades and the price was back up to $3,600.

Powershift
Nov 23, 2009




COMRADES posted:

Well but has there ever been a period where there wasn't some weird stuff happening with BTC?


HFT algorithms aren't fake and anomalous trades though so maybe I'm not getting what you're putting down correctly?

Although moot point I guess because looks like according to your chart the volumes are totally different from the other and to be quite honest I'm not going to spend the time to verify why they say what they do and I'll just take your argument at face value.


Ok see now this is a big red flag if true though. This is a huge reason why penny stocks are garbage; one player can manipulate the price heavily.


Change the time interval here to 4h
https://bitcoinwisdom.com/markets/bitfinex/btcusd

September 14

A massive selloff that began triggering margin calls halted by $150m worth of coins being purchased.

http://omniexplorer.info/lookupadd....Mo5LsPTW1zBTwXL

$25m created on sept 3, 5, 7, 14.

Powershift
Nov 23, 2009




evilweasel posted:

not everyone loses money, the scammers make out like bandits

Pirateat40 so rich he doesn't have to work and has an entire kitchen staff preparing his meals every day.

Powershift
Nov 23, 2009




Collateral Damage posted:

I'll believe that shitcoins are worth several thousand dollars when someone proves that they have converted a significant amount (say $100k+ worth) of it into real, actual USD without getting robbed, stuck in limbo or crashing the market.

Even if you can get money out you are, at best, directly facilitating drug money laundering and burning around 60 pounds of coal per on-blockchain bitcoin transaction.

Powershift
Nov 23, 2009




Dmitri-9 posted:

Coindesk has an interesting idea about why money is crowding into the market in advance of a hard fork. When the last fork happened people doubled the amount of tokens for free.

https://www.coindesk.com/logical-no...boosting-price/


Holy Jesus God

The thing is that any argument that the smaller fork is worthless can also be applied to the larger fork. The proper conclusion to draw would be that both forks are worthless, the actual conclusion they draw is that both forks will one day be worth millions.


Blade Runner posted:

A vast majority of the mining market is made up of Chinese mining farms due to strict regulations on conversions of Chinese money to USD, with the butts coins being a convenient way of sidestepping that.

Also, yes. Double your money!!!!!!! That's how things work right

You just get twice the money out of nowhere, we should fork all the time

Just agree that bitcoins are worth $5000 and fork every month and then everybody can sell their bitcoins on the fork for $5000 and still keep their real bitcoins. Then everybody will be a millionaire in no time.

Powershift
Nov 23, 2009




gary oldmans diary posted:

how can you say that only real bridges are of value when virtualBridge is clearly the currency of the future?

Someone should make a bridgecoin, I've even got the perfect tag line.

If you believe in bitcoin, i've got a bridge to sell you.

Powershift
Nov 23, 2009




https://coinmarketcap.com/currencies/bridgecoin/

gently caress!

Powershift
Nov 23, 2009




I don't remember Ham Sandwiches from any of the old bitcoin threads. I'm wondering if he suffered a recent brain injury or bought the account from a bitcoin forum.

Powershift
Nov 23, 2009




Ham Sandwiches posted:

Hmm yes the exchanges that haven't been an issue for 6+ months and the new ones have been remarkably stable

"Starting now" but for real

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Powershift
Nov 23, 2009




Race Realists posted:

I wonder if theres a way legally invest in this poo poo

Invest in? no.

Bet on? probably.

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