Meltdown: Bitcoin crashes to $576

[Kusje]

  On 2/11/2015 at 1:57 AM, Wt_know said:

after Mt Gox collapse still got people play Bitcoin ...

it's unbelievable how gullible > naive > stupid > crazy people can be when it comes to get-rich-quick scheme

 

HK$1M return on HK$400K investment ... that's 150% return in 4 months ...

that's a fking 450% ROI per annum

 

 

Actually it you should compounded it so

 

1st 4 months - 400k- > 1M

2nd 4 months - 1M - > 2.5M

3rd 4 months - 2.5M - > 6.25M

 

Returns: (6.25M-400k) / 400k = 1462.50% ROI per year.

[Wt_know]

ho say liao ... can drive porky and wear rolex and shake leg ...

 

  On 2/11/2015 at 2:12 AM, Kusje said:

 

Actually it you should compounded it so

 

1st 4 months - 400k- > 1M

2nd 4 months - 1M - > 2.5M

3rd 4 months - 2.5M - > 6.25M

 

Returns: (6.25M-400k) / 400k = 1462.50% ROI per year.

 

[Kusje]

  On 2/11/2015 at 2:22 AM, Wt_know said:

ho say liao ... can drive porky and wear rolex and shake leg ...

 

 

 

Why you forget the cigar?

[Throttle2]

  On 2/11/2015 at 2:32 AM, Kusje said:

 

Why you forget the cigar?

Yah lor.

 

How can forget the cigar?

[Ake109]

  On 4/9/2014 at 3:47 AM, Jamesc said:

Taxing bitcoin is the best thing for bitcoin.

 

It gives it credibility and value.

 

Damn I wish I bought some.

 

 

This is one case where I listened to Warren Buffett and misses out on making $$$$$.

 

He said don't invest in what you don't understand.

 

Back when bitcoin first started and was about a buck each, I contemplated buying 1 or 2 hundred SGD worth. Then remember Buffett's words. Now I wish I never listened to him!

 

As for China banning them. I wonder how much of it has to do with the conspiracy theory that bitcoin was created by the US govt (CIA).

Edited February 12, 2015 by Ake109

[Jamesc]

  On 2/12/2015 at 6:29 PM, Ake109 said:

 

This is one case where I listened to Warren Buffett and misses out on making $$$$$.

 

He said don't invest in what you don't understand.

 

Back when bitcoin first started and was about a buck each, I contemplated buying 1 or 2 hundred SGD worth. Then remember Buffett's words. Now I wish I never listened to him!

 

As for China banning them. I wonder how much of it has to do with the conspiracy theory that bitcoin was created by the US govt (CIA).

 

Haha imagine you invested $200 and it would be more than $200,000 today.

 

As for Mr Buffet he doesn't understand IT so he never invested in Google and Apple.

 

He missed out a lot.

 

[Duckduck]

  On 2/12/2015 at 6:29 PM, Ake109 said:

As for China banning them. I wonder how much of it has to do with the conspiracy theory that bitcoin was created by the US govt (CIA).

 

china ban was coz too many were using it to transfer $ out of the country.

[Titanium]

Anyone hold bitcoin? $1758.95 liao. 

 

 

[Kusje]

  On 5/11/2017 at 12:18 AM, Titanium said:

Anyone hold bitcoin? $1758.95 liao. 

 

 

 

 

Imagine this crap was at less than 0.20 at one point of time. You put in 200 bucks now worth 1 mil. 

 

[Titanium]

  On 5/11/2017 at 12:31 AM, Kusje said:

Imagine this crap was at less than 0.20 at one point of time. You put in 200 bucks now worth 1 mil. 

 

 

Crap meh? I was tempted to try when it was ard $300+ that time but dunno how to get leh.

[Kusje]

  On 5/11/2017 at 12:33 AM, Titanium said:

Crap meh? I was tempted to try when it was ard $300+ that time but dunno how to get leh.

 

Based on my rough understanding, you just need to:

 

1. Sign up online for a bitcoin wallet (becareful hor... this can be like those fly by night banks that just close down or lose your money in 1 hack).

2. Download some program to mine your own bitcoin (don't even need to pay money) but at present mining rates, I reckon your electricity cost more. You can just do it for the lulz.

[Throttle2]

  On 5/11/2017 at 12:18 AM, Titanium said:

Anyone hold bitcoin? $1758.95 liao.

 

 

Huat ah!

 

 

 

Not me...

 

I only have Ethereum

[FutureY]

What is the sure shot guarantee that i will earn if i invest as i have never seen it perform better so i think its better for me and all to wait and watch before investing? Rectify me if i'm wrong.

[Jman888]

  On 5/27/2017 at 1:34 PM, FutureY said:

What is the sure shot guarantee that i will earn if i invest as i have never seen it perform better so i think its better for me and all to wait and watch before investing? Rectify me if i'm wrong.

 

rectify your google translated English?

[Hamburger]

Why would anyone wants to invest in what is not even a country currency.

[Jman888]

 

  Quote

Bitcoin exchange operator sued in Singapore

PUBLISHED 5 HOURS AGO

Grace Leong

 

An electronic market maker is suing Quoine over trades that were allegedly wrongfully reversed, which resulted in proceeds being deducted. 

 

Singapore’s first legal dispute involving the cryptocurrency bitcoin has erupted over trade proceeds worth around US$3.78 million (S$5.1 million).

 

An electronic market maker is suing Quoine, one of the world’s major bitcoin exchange operators, over trades that were allegedly wrongfully reversed, which resulted in proceeds being deducted.

 

The market maker, B2C2, said it placed orders on Quoine’s platform to sell ethereum – another cryptocurrency – for bitcoin at the price of 10 bitcoins for one ethereum.

 

The orders were filled in a series of trades on April 19, resulting in B2C2 paying 309.2518 ethereum for 3092.517116 bitcoin. The bitcoin was credited into B2C2’s account that day.

 

But the next day, the trades were reversed by Quoine, which is incorporated here, and the proceeds allegedly “misappropriated” from the account without authorisation.

 

Quoine told B2C2 that it was entitled to do so because the trades were “mostly trades with huge mark-up over fair global market price”, the suit said.

 

B2C2 claims Quoine had “acted fraudulently” because the agreement stated that an order, once filled, is “irreversible”. It is seeking to recover 3084.78582325 bitcoin from Quoine in the High Court.

 

Quoine, a fintech firm that also offers other cryptocurrency-related services, was co-founded by Mr Mike Kayamori, who has held senior roles at Mitsubishi Corp and Softbank Group.

 

No dollar value for that amount of bitcoin was provided in the lawsuit but according to cryptocurrency exchange CoinDesk, that amount translates to US$3.78 million based on an exchange rate of US$1,226.94 for a bitcoin on April 19.

 

Quoine in turn claims that B2C2 is “being opportunistic and seeking to profit from a technical glitch”

 

It said the trades were “inadvertently” executed at the “abnormal rate of... 10 bitcoins for one ethereum, which was approximately 125 times higher than the actual market price of ethereum on April 19” because of a technical glitch.

 

It said the average market price that day was only about 0.03929075 bitcoin for one ethereum.

 

The glitch severely disrupted Quoine’s ability to retrieve actual market prices for bitcoin and ethereum. It said the glitch arose because it was reconfiguring passwords for its critical systems to fend off persistent attempts by hackers to break into its systems.

 

Given the “stark difference between the abnormal rate and the actual market prices of bitcoin and ethereum on April 19”, B2C2, which Quoine called a “sophisticated” investor with experience trading virtual currencies, should have suspected the “abnormal rate” was a mistake. It also noted B2C2 had done other bitcoin and ethereum-related trades on Quoine at prevailing market rates between April 15 and 18.

 

Public resources such as CoinDesk and WorldCoinIndex would have shown that the abnormal rate could not be an accurate reflection of the market prices of these two virtual currencies on April 19, Quoine said.

 

 

 

[yxchea01]

bitcoin going strong again about 6.6k

[Feudallordcult]

i only bought ethereum...cos BC is simply too expensive now.