United States President Donald Trump held his first solo press conference on the job and offered a comprehensive review of his action packed first month in office. Trump promised further action in the coming weeks as he celebrated a busy first month in spite of the fake news media, hostile career bureaucrats, and a slate of department secretaries delayed by an obstructionist legislature. A transcript of the press conference is presented below: Continue reading
Following pressure from the "People's" Bank of China, the major Chinese fiat/Bitcoin interfaces have brought an end to margin trading for domestic Chinese customers. Further fiat side interference with fiat/Bitcoin interfaces is expected to continue or accelerate over 2017.
So far 2017 is continuing the recent upwards trend in prices reported by fiat/Bitcoin interfaces passing a number of milestones today:
While fiat/Bitcoin interface insolvency remains a reality and connections to reality on the fiat end generally seem to be loose, much has changed since this price level was reported. Perhaps most notably in the mind of buyers, concerted social engineering efforts to undermine Bitcoin variously named XTCoin, ClassicCoin, Unlimited, and Segregated Witness have all failed, laughably so.3
Still, tomorrow any or all of these fiat emphasized fiat/Bitcoin interfaces could offer nothing for your Bitcoins while demanding you deliver the entire whole and undivided transcendental idea of the color magenta4 to them.
"volume weighted" price, strong lead by China and over 1050 Euros across the board ↩
Similar situation, above 1100 dollars with the exception of BTC-E ↩
In the only way that matters, that impossible way which would deny everyone else both magenta and the idea of magenta. ↩
Earlier this week the Ministry of Games released version 0.1.2 of their real cash economy MMORPG Eulora to the world. The new client software was made available July 31st and the servers rolled over to the new version on August 3rd. Shortly after the update was made available Daniel P. Barron (WOT:danielpbarron) found a record setting loot pop in the game world. The drop composed of boulders and assorted other loot has a base value of 0.81 Bitcoins with a potentially higher market value in the game's real money economy. Eulora's real cash economy makes it one of several avenues available for earning Bitcoin without dealing with the AML/KYC indignity of the various fiat/Bitcoin interfaces.
Magnr "Savings and trust" announced in an email to customers today that it was pausing trading to review it's security measures. (archived) The letter stated:
"In the past 24 hours, Bitfinex has announced that their exchange has been victim of
a security breach resulting in the suspension of activity on their website until
As a result, we have placed a temporarily pause on Magnr Trading. During this time,
clients will have the ability to liquidate existing open trades on Bitstamp and
itBit but will not be able to open new trading positions."
While Magnr says they monitor their service 24 hrs daily, users of the platform do not have control of any private cryptographic keys and therefore have little hope of recovering any funds stored therein were the company's servers to experience a breach.
To quote from 2013 :
I. Self-moderated "support thread", filled with a bunch of socks posting nonsense. This is standard scammer operating procedure.
II. Running stolen, bug ridden software (the old Bitcoinica codebase) that has already proven itself useless in the marketplace (three times!)
III. Scammers themselves admit to crediting "investors" infinite USD/BTC to execute the naive users.
It's true that scammer tags aren't really given out much anymore, but that's no reason to allow well known scammers run amok. You have been warned.
To quote from 2016 :
We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen. We are undertaking a review to determine which users have been affected by the breach. While we conduct this initial investigation and secure our environment, bitfinex.com will be taken down and the maintenance page will be left up.
Sorry for your loss.
The Bank of Japan has introduced a negative interest rate policy a mere week after Bank Governor Haruhiko Kuroda assured the world his bank would not taking such a course of action anytime "soon" (archived). The move helped to take Bitcoin and the United States dollar higher against the yen. The euro spiked higher against the yen and then regressed.
Although Facebook's desktop platform is no longer providing the revenue stream that some platform investors came to expect, and even though the whole shebang is a very thinly veiled 21st century Pravda, reports are in that speculators in the jewel of the USG's social media crown have driven the firm's stock price to new heights on the back of "mobile" advertising revenues. Continue reading
The pain being felt in the United States corn belt continues as low prices have reduced the flow of grain into the market to a trickle (archived). Archer Daniels Midland and other buyers are finding it necessary to raise their basis bids to get any new grain at all into their supply chains while farmers are forced to weigh how much of a loss they are willing to sell their crop for in order to plant the next crop. It remains to be seen how much to hodl farmers can muster and whether it will be enough to save their fortunes from the malaise affecting commodities on fiat markets. Sorry for your loss.