All posts made by zimmah in Bitcointalk.org's Wall Observer thread
1.
Post 6272975 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.39h):
Wait what?? lol
Wasn't 3rd party deposits banned??
See my previous posts, this apparently was the cause of the short-lived bump at 04-17 05:12 UTC.
I belive that these "TOP-UP" cards are not the same thing as "3rd party payment processors depositing directly into Huobi's bank account". There seens to be a "4th party" involved, a card-issuing company. The card company receives the money from Huobi clients via bank wire transfers or the 3rd party payment company, "recharges" the clients' cards, and then the cards can be used somehow to deposit money into the clients' internal Huobi accounts . Thay is what I
fantasized understood from Google Translate's output.
I wonder if the PBoC will be happy with that solution, but I would guess that they did not ask the PBoC beforehand...
Yes this is getting quite ridiculous. Now we have 3rd party to 3rd party (4th party?) what's next? 3rd party to 3rd party to 3rd party?
no but seriously, i guess we'll have another "ban" in a couple of days.
Eventually we'll probably arrive at a point where we'll just ignore China.
Don't the governments realize that having a lot of bitcoin hodlers in your country will actually most likely increase the wealth of your citizens (and therefore the GDP?) of your country? Or maybe that's what they are trying to prevent, because poor people are easier to control.
2.
Post 6398465 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.40h):
Why would there not be a round the clock liquidation on Huobi if this is the end for the Chinese?
No, this was just more fud and bs. Deadline passes, nothing happens, next round of fud incoming.
Why would they stop this? The idiots react the same to it every single time.
For{i=1,i<infinity,i++,announce ban()};
Function announce ban(do nothing)
3.
Post 6727675 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.44h):
4.
Post 6727746 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.44h):
I saved 10k the last months/year and am going to holiday in 2 weeks. Now I am in a situation - buy or die? Should I buy moar? Or let the money under my bed for the next 2 months? Because as some people know, I(we, me and parents) already invested 60k @$700
And I almost always buy high, so I probably think that if I buy, we´ll be at $200 soon... Any suggestions?
I don't think it is very likely for the price to drop below $400, and especially not below $350.
5.
Post 6731318 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.44h):
So are we going to final bottom around $370 next week or not?
Hmm, 300-350 rpietila says, in 7 days he says. Lets see.
he says a 7% chance.
you feeling lucky?
I own more BTC than 99.9% of the world population combined. Of course I am feeling lucky!
... There are no more than 7 000 000 BTC holders, right?
Where did you get that 7 000 000 number?
(
https://www.google.com/#q=population+of+the+world) * 0.001
0,1%? not so fast thats too much imo.
You guys fail at math.
He's saying that he has more bitcoin than 99.9% of the people in the world, in other words he has more bitcoin than 6 993 000 000 other persons, and probably more.
In fact the figures are even more in his favor as there's probably less than 7 000 000 bitcoin users, but for his initial statement to be true (he owns more bitcoin than 99.9% of the world population combined) only less than 7 000 000 need to own bitcoin.
6.
Post 6753199 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.44h):
It's Thursday, is this just the Bitcoin Investment Trust on its weekly shopping spree?
Yeah, this time they bought ~341 BTC.
Actually, I am not sure if it is bullish - they keep buying but the price stays the same. Think what would happen if they would stop buying - or start selling.
I wouldn't think too much about it... hehehe.
Why? They sort of have a "ticking bomb" design - you are only allowed to sell after holding for 6 months. So they may have many investor who bought high and want out, but they have to wait some time, until this 6 months will pass.
you know in 6 months time bitcoin usually is higher then it was 6 months ago. So even if someone bought in at $1200, 6 months after that the price would most likely be higher than that.
very bullish
7.
Post 6761982 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.44h):
My new view of the market:
I wouldn't be suprised to see flat for an entire year.
Even permabears are drawing uptrends again!
pretty funny how someone can draw an exponential growth curve prediction and still be bearish.
#justbitcointhings
8.
Post 6786777 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
Just found this chart from November 2013....I am starting to believe 100 000 USD in 2016 is inevitable
surprisingly accurate, and the truth may even be more bullish than the chart. I mean 1000 in August?
9.
Post 6795456 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
Why on Earth would i pay for food and drinks with BTC. Maybe in big american and western world cities you pay for everything with smartphone chips and cards but that doesnt work so well in the rest of the world. Say, there is vending machine in Kenya (Africa), its hot and you are thirsty, with what do you pay for the Cola inside of the locked vending machine? (no electricity, vending machine is operated by 2m tall black gorilla with a key)
Actually, Mpesa is very popular in Africa and not in the western world. So paying with phones is not at all a problem in Africa.
10.
Post 6803019 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
In the past, price has always went UP after any stable period.
I'm not sure how much longer the price will pretend to be stable, it may be weeks or months.
If the price drops from here and doesn't come back up, it would be a first in bitcoin history.
In 2013, the price may have went up after stagnation but that was because it was getting a lot of media attention and average Joes were buying in, this year, after many average Joes were robbed by exchange owners (not only MtGox) - 2 exchanges in my country stole the coins and money, this year my boy, its going to drop after stagnation.....is has been doing so since the beginning of 2014.
then don't waste your time here, go do something with your life instead of wasting it on a dead horse...
Shorting BTC, making hard cash USD, buying yo momma, kid. Welcome to ignored.
Says the newb who registered on this forum just days ago? It's YOU who is on ignore. Also Cpt. Illiterate, it's "the price may have
gone up after stagnation..."
Kid with stupid logic. Also on ignore.
New profile != newb. I will take profits from shorting over having good grammar any day, bagholder.
If you intend to ignore everyone on this forum you may as well just leave the forum, will save us all some time.
By the way, make sure you got a big bag, if you intend on using fiat for the rest of your life you'll need it. Better buy your wheelbarrow now, while you can still afford one.
11.
Post 6809595 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
I agree, it's not just about bitcoin becoming successful, that would be nice for me and many of us here, but what's really important is that when any system of sound money takes over and holds it ground for long enough it could direct the world economy and the policitians toward the right path by forcing them to choose paths they would not take if they had unlimited money like they have now.
If bitcoin or a new gold standard catches on their self-destructive behavior will destroy them, or they will notice their behavior is self destructive and they might change their ways. And not just them, but the general population will also be less wasteful, because let's face it, we too are a wasteful society, that's just how we have always done things and we don't even know any better.
12.
Post 6831423 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
Is that in then or are we pausing to let a few more passengers on?
Huobi's volume is still decreasing over the last week or so, is it going to dwindle into non existence?
Maybe a rally without china would be very bullish. It will show the world that we don't need china for a rally, and everyone who is not Chinese will panic less when china does something stupid again like banning bitcoin. Mainwhile the Chinese will realize even mrie how important it is to own bitcoin and they will try everything they can to get their hands on them, regardless of what their government thinks about bitcoin.
13.
Post 6831539 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
True, arb would happen in such case, but you would easily be able to tell by relative volume and which exchange is leading the price changes.
14.
Post 6835741 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
A few big early morning pumps and following that back to anaemic volume, no cause for celebration
actually we haven't seen this upwards hourly volume on bitstamp since april 16
this may be the breakout we have all been waiting for.
15.
Post 6836203 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
pretty sudden explosion, hope it keeps going like this.
16.
Post 6836345 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
daily volume is still low ... we have to wait. looks more like some panic buys because there was no drop to the down side.
of course it is still low, the rally started about an hour ago and since a day has 24 hours the daily volume has barely moved. Are you going to wait a full day in a market this volatile?
hourly volume, last hour 3190 and this hour 4200 (and climbing), we're still climbing.
the last time we have seen 4200 upwards volume was April 14th, moving from the 397 bottom to a 548 top and we haven't seen both these numbers for a while. furthermore, we haven't seen two hours of this kind of volume in a row, and especially not a case where the second hour had even more volume.
These are pretty strong signs, combined with multiple cases of broken resistance lines.
CCMF
/edit the volume of this hour is now 4600 and climbing and last WEEK we had a total volume of ~44000, so we have ~17% of last weeks volume in the past two hours
/edit2 as far back as the chart history goes we have not seen an hourly volume of 5000+ there probably never was this kind of volume before except during the november bull run!
17.
Post 6843171 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
some people were really impatient or didn't get the memo or something.
Why sell at 481 when you can easily sell for 486?
18.
Post 6852398 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.45h):
this time, it's launching from 450
my question to you is, when are you selling?
I have a resolution of not selling any below 2000.
I think that's an easy one to keep because the sell zone in the exponential trendline starts at earliest +0.4 points and we are there earliest mid-July at 4700. If it postpones till August or longer, it also goes higher.
I aim to sell at the top only, probably starting at 3000 and when it feels toppy. Apr-2013 my selling plan had just started the day before collapse. Nov-2013 I was too early (675) but managed to sell in bulk. It is hard to know the shape of the bubble top.
The ambitious plan is to buy back the same number of coins in the following crash, and use the proceeds to finish the castle repairs and miscellaneous expenses.
sounds like a good plan
i wonder how this guys projected top is "only" at $ 1356 ??
http://www.geekcipher.com/technology/bitcoin-price-breakout-on-may-20th-2014/my own guess is a top between $ 3000 and 7000 followed by a 60% drop
I agree with the prognosis of a top anywhere between 3000 and 7000.
I will not start selling below a certain price point, and I don't know how this guy came to the 1356$ ath conclusion, but comparing all the previous trends and bubbles,
there's no way this train will stop so low
someone has calculated that in all previous cases the low after a top has historically always been between 1.85 and 2.2 times the previous high.
Since the previous high was about 1200 (not counting the gox price) the next low should be somewhere between 2220 and 2640
The next high should be somewhere between 4500 and 7000 or so, but most likely in the $5000 range with a good chance of $6000.
19.
Post 6869831 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
~530 was a strong support that held a couple times in February before we broke finally down into 400s. You know, support becomes resistance and all that stuff.
the next couple of resistance lines are 530, 630, 750 and 800 if i'm not mistaken.
although a minor wall seems to be forming at 555 too but i doubt that one will stand
20.
Post 6870480 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
It's currently struggling against the upper fib downtrend line back from the 1163 peak in november.
It briefly broke it with medium-ish volume but got rejected for now. It will need some more momentum to break it. The line is currently around 516
21.
Post 6870664 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
Buhuu a lot of lines and charts here on this page... And all of them are senseless because Bitcoin does not care and does what it does
yes and no,
bitcoin sometimes makes big moves, but each of the moves is reasonably predictable. Charts do help you understand the patterns and what's going on but they won't predict the future exactly, but that's true for any market.
22.
Post 6872955 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
Every time price remaining over 500 is healthy for TA. I'm waiting 2 green candles more tonight.
currently it is still stuck between the 508 support line (it was a resistance line but it turned to support) and the 516 resistance line.
23.
Post 6883797 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
Knock Knock
- Who's there?
Choo
- Choo who?
CCMF!
24.
Post 6903762 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
wow... someone selling big on stamp
anyone sow kraken order book?
$516 buy - $530 sell spread
in euros it's €382 - €383 which is about $522
25.
Post 6912344 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
I think its safe to leave the charts for the weekend and just have a price alarm set. Enjoy your bank holidays (if your in the UK)!
How can we do that please ? ( for free as possible )
unless you have an iphone you can download some apps that can do this.
I have those apps on my iphone but i had them before apple decided to remove them from the app store.
26.
Post 6915183 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
Lmao.. someone just ate the whole 300btc wall on Stamp. One click.
Its dinner time in the UK
if i had that kind of money i would do the same
27.
Post 6920665 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
I think your outlook is too pessimistic, what about the possibility of decentralized exchanges or direct peer-to-peer trades without a third party? I think that will be the future if all the exchanges are forced to become this intrusive. And there are also more anonymous coins coming on the market now and I don't think those governments want to push us all away from Bitcoin and towards those coins. So I think they will be forced to come to the bargaining table and loosen up on their intrusiveness.
Anybody know where to get volume numbers from Mycelium wallet local exchanges, localbitcoins.com, et filia?
It will not take a push for a lot of traffic to flow into anonymous transaction space. It was the illusion of this feature which bootstrapped bitcoin's value. It is a huge, throbbing demand, which is otherwise unmet: Easy to use practical anonymity fit for a given use case, liquidity that cannot be taken away because it cannot be seen. The perception is no longer there, for bitcoin, but it is increasingly the reality elsewhere.
not sure how reliable this is, and also it's not listed for every currency either.
http://bitcoinity.org/markets/localbitcoins/EUR
28.
Post 6927748 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
it may be nothing, but maybe a new trend is forming.
If this trend actually proves to be true, it's a VERY bullish one. This one is pretty steep.
The other lines you are seeing are also exponential lines (linear on a log chart) and are pretty steep themself, but
they look almost horizontal compared to the new lines!
(1 or 2 of them are resistance lines though)
29.
Post 6927873 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
Learn to sell and take profit during an uptrend, the train isn't going to the moon so soon, there will be a deep correction soon.
Learn bitcoin. The train IS going to the moon ($5000-$6000 in this case most likely). This is what bitcoin does. The deep correction will be in August, down to a "low" of $2000 at least by December.
yes and people will cry and forget that we even were at $400 a few months before that. And they'll scream bitcoin has failed and say "i told you it was a bubble" and they spread FUD and extrapolate their charts to 'prove' "if it continues to fall at this rate we'll hit 0 in December and -$3000 in January." etc. etc.
30.
Post 6930398 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.46h):
price might test $630 by tomorrow (and will fail, but succeed the day after)
31.
Post 6945247 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
man i love how there's so much tension now.. everybody is gearing up for some huge explosion. it's time for some excitement.. i'll never forget last year's bull run felt. it was just disbelief after disbelief.. it went from $100 to $1100.. nuts.
I agree about last years run up. I don't think I will ever forget that feeling either. Constant happiness coupled with not being able to do anything without checking charts every few minutes.
i wouldn't call it happiness, not for me at least. excited is more like how i felt. if i were to use the word happiness, i would have to have a feeling of being content. i guess i didn't have enough bitcoins to make me feel content with prices at $1200.
I'm in a position where at the one hand I'm happy when the price increases, but in the other hand it makes me worry because I have no more fiat I can invest, and by the time I do, bitcoin will be much more expensive.
32.
Post 6953806 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
aw man, even more noobs who will use the dreaded 'bits' instead of ubits.
Also, i wouldn't trust quickcoin with significant amounts of bitcoin, maybe a few thousand ubits at most. Just some pocket change, nothing more. They advertise with not keeping your life savings in your backpocket, but why should i keep my savings in THEIR pocket?
33.
Post 6965769 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
And we have a new trend channel
If this channel will not fail, we will hit 1000 USD again bwentween june 17 and 23.
We will see if this rapid rising exchange rate will continue, but in Bitcoin, nothing is impossible
I don't see why not
34.
Post 6969546 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
i'm not quoting fonzie but he's actually right about bitfinex
But if some people lost a lot on margin calls,mother people gained just as much right? That's how the market works, someone gains, someone loses.
So the people who lent money to margin traders would have made a killing right? And they could potentially invest (part of) that money into bitcoin, right?
Or do I miss something?
35.
Post 6970836 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
i'm not quoting fonzie but he's actually right about bitfinex
But if some people lost a lot on margin calls,mother people gained just as much right? That's how the market works, someone gains, someone loses.
So the people who lent money to margin traders would have made a killing right? And they could potentially invest (part of) that money into bitcoin, right?
Or do I miss something?
I think you missed the bit where all Teppino was saying is that Fonzie is right in that Bitfinex was down at the time. Not to all his other perma-bear/ uber-troll posts.
I doubt many people would have lost a lot on margin calls as when the site went down trading stopped, its not like you couldn't close a position while the market still moved. So the market was in exactly the same position when it opened as when it closed so no calls happened at a time you couldn't have closed them.
Yep, i have fonzie on ignore myself but i sometimes peek on troll posts nevertheless
I'm far from achieving that zenlike emotional detach from market, therefore i can stand trolls only in bullish times
I have him on ignore as well, but i just peeked to see what it was about. And that post seemed not that bad for someone on my ignore list.
36.
Post 6972385 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
the 90's companies maybe, but the companies on bitcoin are bitpay, coinbase, Mt.Gox (already doomed), etc.
however TCP/IP, HTTP, FTP, etc are all still around. Those are the protocols.
Bitcoin (the protocol) will most likely survive in any scenario, while bitcoin (the currency) will gain value as Bitcoin gains more utility and becomes more easy to use for the average person.
The difference between the internet and bitcoin is that you can invest directly in the protocol, without having to invest in a company. Never in history was there a chance to directly invest into a potentially life-changing worldwide protocol.
37.
Post 6974751 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.47h):
Sweet mother....
We're retracing through this dip at a remarkable speed.
Last block on blockchain.info is over 2 hours old. Is there a tread about this?
I'm seeing 302879 through 302881 which are less than 2 hours old... Nevertheless, it is odd to see 3 blocks in the space of 2 hours...
EDIT: This seems absolutely real, not a blockchain.info glitch. 3 blocks in the last 2 hours. Accordingly, the number of transactions in each of these blocks is unusually high, and two of them are scraping the 1 MB limit.
variance. Sometimes you have 2 blocks within seconds, other times you have no blocks for a few hours. Random is random.
38.
Post 7034077 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
Looks like it's attempting another break the $600. But it's having a lot of selling pressure again. Probably some day traders who bought at $550 or below and want to see a quick profit rather than wait for it to break $600.
They will eventually run out of bitcoin though, so hopefully the buying pressure will win out this time. It's about time we break the $600 level.
39.
Post 7035712 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
I see Tera is back and obviously missed the train again.
Yawn.
40.
Post 7036332 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
bulls be like..
you mean
lol
it does the same for me.
41.
Post 7038624 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
one bitcoin please
42.
Post 7042768 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
did someone say rockets?
43.
Post 7042894 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
Ignore list rules for wall observer thread. Ignore all accounts created after 01.01.2013., do not ignore chartbuddy and you are safe.
i'd have to ignore myself, also, maybe if you'd have told me about bitcoin prior to 2013 i'd be in by than. But unfortunately i don't have a time machine and no one told me about bitcoin before april.
44.
Post 7046955 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
We are at optimism
......
I think we are at hope, the correction right next to the word "hope" will come in August and then CCMF
I don't think we'll have to wait that long, the rally should start right about this time, and judging by the $200 increase in the past 3 weeks i'd say we're right on track.
Most charts confirm that a rally should start around this time, and the 1w MACD on bitstamp shows we'll be in the green starting from either this week or the next. And a green MACD on the 1w chart usually means a huge rally. Also, the volume exceeds the first couple of weeks of the previous rally, and has been going up the past 3 weeks on the 1w chart as well. If this continues and keeps ahead of the previous rally each week, we'll see some pretty nice figures halfway through June.
45.
Post 7053039 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
Because of my inability, I found it wired.
I must admit TA is not wired..
Do you mean 'weird'....or is this some new street slang?
What is weird about (what is essentially) mathematics?
Sorry, should be 'weird'.
Mathematics is of course not weird, neither chaos and fractal, as they tell the nature.
But Is nature predictable or not? That spins my brain.
I see TA is based on induction for probability. For the incapables like me, I find such induction turns out very weak in many cases. And that further spins my brain. I conclude TA is beyond my ability and not my cup of tea.
The laws of nature (assuming you know all of them perfectly, and we don't) are perfectly predicable, this process is called science and physics (science is studying the laws, physics is applying the laws in formulas)
Nature itself not so much, as nature consists of many living things (plants and animals) that may or may not behave as expected. However even these living things often act in a certain way. So to some extent they too are predictable.
Also, some things are very hard (next to impossible) to predict even for supercomputers. As the laws that apply to them are far too complex for humans to comprehend, or at least with our current knowledge.
Human nature, or psychology, is predictable to some extent, but because of a thing known as "free will", humans are never 100% reliable.
46.
Post 7057745 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.48h):
Dont Forget......Very bullish on thread count we will break 7000 in 2 hours
What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now
that is worth a party!
would be interesting to watch...
We should start drawing a log chart with the BTC exchange rate and the number of posts in this thread and watch the "spread" shrinking week after week
Done - We are roughly looking at September 2015, unless we align during the March 2015 bubble cycle...
edit: Sorry about all the white space!
(*white space removal free of charge this is beautiful. Thank you.
What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party!
Totally agree! and that day shall become known as an international holiday. Wall Observer Thread Parity Day! (*I'm sure someone can come up with a better name*)
But yeah, logarithmic functions are really mind blowing, for example:
computers were not even imagined
1000 years ago.
the internet was not even imagined
100 years ago.
a solution to the problem of the
double-spend* issue was not even imagined
10 years ago...
I wonder what the next
1 year might bring?
*also - quick thought I just had about that whole Byzantine Generals problem, which I have heard people say that bitcoin apparently solved. I'm not so sure about that.
I wonder if the computer science part of the problem was even addressed at all. I think what satoshi did was provide an incentive model as a workaround to the problem. By providing the generals enough incentive, you can effectively prevent them from acting maliciously, but this system still can not provably prevent malicious actors in the Byzantine Generals problem. at least as far as I understand it.according to my calculations if we bubble in march 2015 the peak should be roughly around $30,000
The 622 sell wall it´s getting eat very fast, from 750 to 590 in lest than half hour. In 4 o 5 hours we will pass the 622 wall.
That's not fast.
It´s fast considering the volume we have now.
the volume in bitcoin may seem low, but the volume in USD is pretty high.
47.
Post 7062118 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Done - We are roughly looking at September 2015, unless we align during the March 2015 bubble cycle...
LOL, GREAT
Post a donation address!
The only thing that could distort this model is that the number of pages in this thread will start an exponential trend
You are so right! But maybe this whole thread is one big "Observer Effect" (hell - it's in the name of the thread!)...
The Observer Effect: "Changes that the act of observation will make on a phenomenon being observed."
(Side note: I have never received a donation before... that is so cool! There are some very nice people on this forum.)
edit: Had to add this...
during period of high volatility this topic seems to have much more posts than it does otherwise. However it's not really exponential growth.
Also i think the chart for the XBT/USD value is not nearly steep enough. It's a linear scale and it should be roughly exponential on a log scale, thus on a linear scale it should go off the chart in no time at all.
48.
Post 7069583 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Bitcoin's collapse will probably just be one big candle straight to 0 - not something gradual that we predict and chart out with TA. Maybe the same with the economy.
I am sure you are an excellent technical trader
Aaaaaaaaaaahahaaaaaaahhhaaa!
If only i could be bothered to dig up her completely ridiculous predictions from the last few months. She is completely clueless. All her trading is based on some weird obsessive compulsive disorder how Bitcoin will crash. She lives in a fantasy world full of doom and gloom.
We all can see how that worked out for her.
I think TERA's doing just fine.
Sure she does. She posts the most insane predictions but according to her always picks the right moments to buy and sell. I bet she's filthy rich by now.
You must not understand how trading works. It's all about knowing when to cut your losses, reverse your position, and let your winners run. You can consistently make invalid predictions in advance but still win and change your trading strategy at the last minute if you use the right risk management techniques.
A perpetually self-damaging frustrated contrived & compromised mind such as Shroom's cannot be reasoned with. The basic trading insight & common sense you continually proffer cannot possibly reach & enlighten the closed, damaged thought routines of such an individual. You look foolish in even attempting to do so and/or defending yourself & your trading strategies =/
..Can you see the gigantic corny dildo obviously wedged tightly inside this constipated loser's sphincter..?!?? He gives off a 100% boot-licking bought-&-brainwashed shill vibe of the highest order.. o.o
I share that view its just a hunch tho.. most of them come true.
We need to see a stronger bull than ever to set the longterm chart into full bull mode again. Looks like its turning bearish on the weekly unless we visit the inverse of that rsi which usualy gives hints.
What? We are getting like +30 every other day and you're bearish? Do I read that right?
49.
Post 7072699 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Huobi still accelerating ahead as well
BTC-e lagging way behind as always.
50.
Post 7076768 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Some guy(s) just market sold like 300 bitcoin
51.
Post 7076945 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
lol this isnt a bubble. At 2k usd lets chat.
I don't care, she's nice to look at either way
52.
Post 7077003 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Looks like a Bitfinex sell - 4k volume vs 2k on Bitstamp.
SOme crazy manipulation going on at bitfinex. Looks at the swap offers... Someone bough all the swap, sold coin, now offering swap at 1% a day??
you mad?
what is swap? What does that move do? Is that guy a genius or just a rich troll?
53.
Post 7079287 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
adam is trying to feed everyone drunk so he can scoop up all them cheap coins.
54.
Post 7079937 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
We need a new poll, this one is outdated.
Also, why a second flashcrash? Why is my bitcoin not worth at least $50 more than it was yesterday? What is this, regular stock?
I was promised a moon
55.
Post 7079983 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Send me some beer
14oviPooXWc8xSKuGAS9k1VbHrcyQgJRGe
You might say 'please'?
Could anyone send me a beer please?
Much appreciated
1phS5VMsKu9HmRxwMbkwDPZA3Q5PxcEQ9
56.
Post 7088111 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Time to test 605$??
Nah, 620 is good enough I guess.
Even though I wouldn't mind if the rush was stalled for a few days, so I can invest a little bit more fiat.
57.
Post 7088147 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
I need to post some trains images as without them price wont go up ...
Is this about enough trains?
58.
Post 7092811 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
Bitfinex keep bears away so far with this not so straight wall
not so straight wall of
china Bitfinex
59.
Post 7094936 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.49h):
The photo about rptiella is obviously overexposed...
Funnily enough (after seeing the photo re-quoted to exhaustion) I noticed exactly the same thing from the color of the wine. Unless the camera has an exceptionally crappy dynamic range but a professional photographer wouldn't have the shittiest dynamic range camera.
yes, not a very good photographer.
60.
Post 7096379 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
why suddenly 15-20 USD jump any explanation pls.
same reason as all the other jumps
https://www.youtube.com/watch?v=ap2J9RbXaP4
61.
Post 7096392 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
Funny how greedy people can be --
China is at $640 while Bstamp is pushing $665.. yet someone there opts to put a (tiny) bidwall up rather than just market order. I hope they end up paying $665 because of their greed
that doesn't make sense, wait by 'there' do you mean china??
62.
Post 7108088 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
Wow. Look at that.
Smooth as a lake at dawn. Calm before the storm.
I expect it to test $700 (and bounce) by tomorrow. It will likely bounce back to around $670 but it may once again go towards $666 (bitcoiners seem to like this number)
63.
Post 7118126 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
I tought my chrome tab froze, but it apparently just froze at $670 for a few minutes for real.
64.
Post 7125054 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
got BTC which i need in FIAT
when is usually the best time to sell? night?
Now!
damn. should have listened to you
now the money is gone gone gone
All your fiat are belong to us
65.
Post 7142613 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.50h):
I am offering 5000BTC at a 10% discount for sale via Paypal. PM me if interested, otherwise i will dump them in Bitstamp with a market order in 12 hours.
Escrow with JorgeStolfi at 0.5% okay?
If you trust me I'll escrow.
66.
Post 7150939 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
what the fuck? That wall doesn't make any sense.
67.
Post 7152506 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
today we had 3 major events
macd 1w crossing
ebay interview
ecb negative rates
and btc price still goes down ? i expected 700+ easy for today.
what else do we need...
The MACD did not cross
april's bubble:
Okay?
MACD didnt exactly cross for about 3 months after the previous downtrend break.
both have 18 weeks between them.
With that I mean the time between the end of Aprils rally and the start of Novembers rally was 18 weeks. And the amount of weeks since the end of the previous rally is 18 weeks now.
New rally should start right about now. Note that it will still take a couple of weeks to actually reach the peak, but super-exponential growth can start any minute now.
We are making our run back towards $666. I would love to be able to sustain prices just above that. If we can manage that, then we will slowly start working our way to the $680-$685 level, and ultimately $700
If it holds above 600 that will be great. The dark 400 days seem over.
Acoording to my charts it should not even drop below $645 anymore
68.
Post 7156266 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
It's getting boring again! c'mon bulls!
Send me some fiat and I'll buy some bitcoins.
69.
Post 7217208 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
to get a long-term solution we need a pool that is as good as GHASH.io, but there aren't any pools that offer the same package as them.
until there is a good alternative this scenario will repeat itself
70.
Post 7220269 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
That looks like a fairly awesome app for Android users. I have an IPhone, so there is no iphone version. Maybe someday soon Apple will allow the return of some of these kinds of apps to the ITunes store?
In case you missed the news, they already allow bitcoin apps again.
Now it is up to the developers.
YES>>>> I saw some of the new articles about Apple re-allowing some of the crypto-currency apps (possibly applying to bitcoin transmittal and storage apps).
Accordingly, I have been searching the Apple Itunes store for "new" or "renewed" bitcoin apps. Initially, I thought that the Coinbase and Blockchain app would re-emerge in the store (since they were already there in December 2013 and March 2014 respectively), and then probably we would witness some other apps in the ITunes store... such as the cool Coinbase related app that you pointed out (Coinbase Trader).... however, so far, NO new or returning apps have appeared in the ITunes store.
Certainly, there has been some statements of optimism in the bitcoin space concerning this news concerning Apple; however, I remain of the belief that the proof of the pudding is in the eating, and I will believe it when I see certain kinds of bitcoin apps (such as wallets and transmitting apps) reappear in the ITunes store. Crossing my fingers - hoping for the best.
Circle (or similar) translated in every language and some form off facebook integration would be great!
My understanding regarding the initial Circle.com roll out is that it is ONLY going to be serving customers with USA banking accounts, and as we all likely realize, USA - centric businesses do NOT tend to be too quick in recognizing any kind of need for other languages, other than English.
On the other hand, to give appropriate props to Circle, Circle does seem to have international aspirations... accordingly, it will likely be expanding its reach outside of the USA in coming years... but, I anticipate that it is focusing on the USA to be its initial lucrative market.. and means to get its feet wet in the bitcoin space... and then will likely attempt to expand "USA acceptable" practices on a global level (maybe with some local specific tinkering here and there). Maybe, for good or for bad, Circle views itself as the McD's of bitcoin?
M
REMEMBER THAT: You heard it here, first, maybe we can name-change Circle to "McC's"?
Good thing circle is useless anyway, but i really dislike any kind of company that limits their service to the USA. Especially internet companies which have no reason to exclude the rest of the world.
71.
Post 7222865 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
Bitcoin is disappointing us negatively this week.
The poll still seems rather bullish!
That's the problem, everybody is already loaded and have no spare FIAT to buy more.
We need new
souls fiat to flow into the
deepest chasms of ecosystem.
Well anyway I don't know why people are so blind that they can't see fiat is the Ponzi and bitcoin is the way out of the Ponzi.
72.
Post 7240855 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.51h):
According to Bitcoinwisdom, the week ends in 6.5 hours. Should we expect a push up to try and close out the 1W MACD in green?
To be honest I expected the MACD to be green a week ago, but it didn't happen.
I guess the 51% FUD keeps the price down but I'm nut sure if that's the only thing keeping it down.
I don't think a 51% attack will happen! but regardless there should be some more pools instead of a single large pool. But sadly no one goes and creates a competing pool. I would it I could but I can't. Maybe the other existing pools should just step up their game and get more popular by implementing the same features like ghash.
More P2Pool mining could also help.
I personally just want a mining pool that
1) has reasonably low variance
2) offers the possibility to split the mining income between multiple addresses automatically
3) shows the hashrate in apps/chrome plugins
4) has low fees, merged mining and includes miner fees
As far as I know the only pool offering that whole package is ghash.io
73.
Post 7266560 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.52h):
Bitcoin gone mainstream , relax and enjoy the ride
i would say, enjoy the price dropping plus money losing and maybe a full market crushing to $5xx and $4xx very soon!
thanks for the mtgox 800k + 200k lost coins and the China ban, there will be no more $1000 crazy buy, face the reality, $6xx is already the top bubble, time to calm down
Fonzie, is that you?
74.
Post 7315383 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.53h):
The more interesting thing is that is just became widely known just how little it costs it for a malicious miner to sabotage a mining pool via block withholding.
Is that like a worker at a diamond mine stealing a diamond that he dug out?
More like a worker at a diamond vapourizing the diamond instead of digging it out of the ground.
He still gets paid his wage (which is slightly diminished because the mine earned less) but the total harm caused to the mine is larger than the amount he gives up in income.
Why would anyone want to do that?
I mean, you don't really gain anything from it. And competing pools are actually a good thing, because the more pools there are the more secure the network is.
75.
Post 7374763 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.53h):
Ya know what sux, last night I sold a coin at 595.00 wanting it to hit the bank by Friday, and of course BTC now, 24 hrs. later is up 25 bux ... Oh well
Yeah well, that's what you get if you sell while all the signs says we're going up.
No matter how much signs there are of bitcoin going up. Every time when I buy, prices drop a couple of dollars right after.
I don't usually wait with buying either, I just buy when I have fiat.
76.
Post 7413422 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
58x for now
yesterday i see still 60x
what's the negative news or issues?
I'd like to know too, I don't think it's any news that drives the price down but I'd like to know the market psychology around it.
77.
Post 7450343 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
it's getting boring again around here
as well as on the market.
78.
Post 7458104 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
The price is fine for now, but i'll be a little worried if the price fail to rise (and stay) above $600 by July 1st.
79.
Post 7484047 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.
My theory is that you could not prevent it if you tried.
Really? The close of the Weekly MACD candle is only about two days from now, and BTC prices in the last about 24 hours have been floating between $580 and $600, and as I type at $586.
It does NOT seem that it would be too difficult to keep the price below $582-ish... I am NOT sure about the exact number to keep the candle red. Now, I agree that next week would be another story, though.... but this week seems totally manipulable. and doable and I think that there is going to be a pretty vigorous attempt at such.. to keep the candle red.
but why would anyone even WANT to do that?
also, the candle of the past week at huobi and bitfinex were already green, so bitstamp is already lagging a week behind on the MACD. And even that it pretty late considering it could easily have turned green 2 weeks ago, but missed it by a hair due to a sudden mini-panic or whatever the hell happened two weeks ago.
80.
Post 7485440 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.
My theory is that you could not prevent it if you tried.
Really? The close of the Weekly MACD candle is only about two days from now, and BTC prices in the last about 24 hours have been floating between $580 and $600, and as I type at $586.
It does NOT seem that it would be too difficult to keep the price below $582-ish... I am NOT sure about the exact number to keep the candle red. Now, I agree that next week would be another story, though.... but this week seems totally manipulable. and doable and I think that there is going to be a pretty vigorous attempt at such.. to keep the candle red.
but why would anyone even WANT to do that?
also, the candle of the past week at huobi and bitfinex were already green, so bitstamp is already lagging a week behind on the MACD. And even that it pretty late considering it could easily have turned green 2 weeks ago, but missed it by a hair due to a sudden mini-panic or whatever the hell happened two weeks ago.
I have been thinking that I would target Stamp if I wanted to try and manipulate price on grand scale (Stamp being the most dominant exchange). I don't know if this is what is going on. It could just as well be because miners prefer to sell their coins on Stamp. Also the short selling possibilities at Finex (and the Chinese exchanges?) gives a different dynamic that is not found on exchanges like Stamp and Kraken.
It is too bad that they cut the link between Finex and Stamp. I think we need more inter exchange arbitraging. Someone should setup a public and professional service dedicated to this. Something that everyone could invest a little BTC in, and that more or less guaranties not to cause losses. I can't see why this would be impossible. Of course it is already being done on a small scale by bots or traders doing it manually (just did a little arbitraging myself the other day
). I definitely prefer a situation with many arbitraging exchanges instead of very few very dominant exchanges.
I have been thinking about setting this up months ago, but the main bottleneck would be getting the funds out of one exchange and into the other in a reasonably short timeframe.
If you can some sort of agreement on swapping IOUs between exchanges than smooth arbitrage could prove possible and profitable for investors.
81.
Post 7496230 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
It depends if you actually wanted to win the auction. If I wanted to win Id put my bid somewhere between $600 and $630.
So you are pretty confident that the coins will be sold above the exchange rate? I can see arguments for both sides, but it's all very murky to me.
well, in a blind bid it only takes 1 person to feel they are worth more than the exchange rate to actually have them get sold for above exchange rate value.
So f only 1 person has any reason at all to percieve those coins as more valuable, they are.
I don't think it's such a longshot to expect 1 guy to bid above market price. You see $1000+ bids at localbitcoins all the time, even though the going price has been sub $600 for days/weeks now.
I think we'd be pleasantly surprised by this auction and i hope the bear market will reverse after it is know how much the coins sold for.
82.
Post 7496679 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.54h):
Well the price on localbitcoins is always a bit higher because sales take a while there usually and the sellers do not want to risk a sudden price increase leaving them unable to rebuy.
But, a blind auction means that people can not see the other bets, and people who want to really buy a lot of bitcoins without risking to lose their money on an exchange (especially after the mt gox fiasco) may actually bid more than what bitcoins are worth on bitstamp, just to be sure to get the bitcoins.
I am 95% sure we will see a price above the current bitstamp price. And i expect it to be at least 5% higher.
But not much more than 20% or so, most likely.
That still leaves a range of about 612 to 700 or so
83.
Post 7505789 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.55h):
The bear trap is worse than I expected. Feel sorry for everyone selling right now
me too, but on the other hand, isn't it quite obvious this is a bear trap?
I mean, you have to be pretty stupid to sell right now.
84.
Post 7506122 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.55h):
why? even the "institutional investors" like and want cheap coins.
That's not the point. The important part is not what they are bought at, but what they might be sold at (if they are sold at all).
That list is composed of nothing but holders and dumpers. The institutional holders will do all they can to ensure that the coins don't fall into the wrong hands that would then turn around and dump them on the exchanges.
I guarantee you you will see a bid war way past $400. We can only hope that the institutional guys win.
It's a blind auction, so there's no bid war. Though we can assume some people will either really want those bitcoins (just like some people might pay a premium for the coins directly originating from the genesis block), or prevent a large sum of bitcoins to fall into the wrong hands (and by that i mean some kind of troll whale who could crash the price by buying overly cheap bitcoin).
Therefore we can assume the highest bid is at the very least at the market price. And is more likely to be above it than below it.
85.
Post 7508997 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.55h):
can someone explain me what the swaps are and why they are significant?
86.
Post 7545960 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.55h):
Like every losing bidder who tried his luck for a sweet deal at $200-$400 a pop will now suddenly want to jump in at $600..
I think you are a condescending butthole to assume that the names on that leaked list are dumbasses that want or expect coins to sell for $200. You are a freaking moron if you believe that. Those were heavy hitters that could buy and sell you a 100 times over. They don't waste their time "hoping" for a deal. And they don't bid on bitcoin unless they want it.
I am delirious to believe bidders will make low ball offers! Yes those buyers are patient enough not to buy on exchange at 500-600, buying coins were always possible before that auction!
You are most certainly long and probably leveraged, maybe in pain due to high swap cost and recent decline, thus your harsh attitude. A long squeeze is highly due
You don't realize that 90% can be low ballers, we need only one guy to have high bids.
and if the
high bidder sucker doesnt show up, then what?
than he loses his $200k deposit and the next highest bidder will get it.
87.
Post 7568815 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
"imagine a bitcoin" then "imagine..." then "imagine...."
Lot's of imagining going on.
Bitcoin is considered to be a great innovation because it is
virtual cash. I am just a step ahead of everybody here: I
virtually trade it.
From what I have seen of your various writings over the last several months, I will grant that you seem to have a fairly well developed imagination, relatively speaking.
I imagine you imaging his imagination of virtually trading digital currency on an imaginary exchange.
Sound a bit like the story around mt. Gox
88.
Post 7585956 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
lol, that's a little too optimistic.
I don't think it's less than $600, but i don't think it's over $800 either. But on the other hand, they go on localbitcoin for over $1000 sometimes so it's actually maybe not that much of a stretch.
But it would be nice if it was that high though.
89.
Post 7586017 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
lol, that's a little too optimistic.
I don't think it's less than $600, but i don't think it's over $800 either. But on the other hand, they go on localbitcoin for over $1000 sometimes so it's actually maybe not that much of a stretch.
But it would be nice if it was that high though.
Were did the coins go? Anybody getting a track on that? https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
not yet send,
unless this is the address of the current owner who bought them all. nevermind the date does not match, they have not been send yet.
https://blockchain.info/address/1Ez69SnzzmePmZX3WpEzMKTrcBF2gpNQ55
90.
Post 7587049 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
As the price of these coins are the most important thing this year (considering it's the only thing people talked about the last 10 days) the price will go down or up by huge amounts when we know the outcome, right?
Right?
What do you think the chances we even find out the outcome are?
Personally, I think they are low. It's a closed auction. I don't think any official channel (government) will release anything. And I wouldn't be surprised if the bidders have to seal their lips based on some terms of the auction. No experience here obviously, but that is what my gut is telling me.
so all the FUD and speculation is fruitless because we might never know the price they sold for?
91.
Post 7595911 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
hot off the price heres a list of the prices for each block so far.
1 - Pantera - $900
2 - SecondMarket - $750
3 - SecondMarket - $700
4 - DRW Trading Group - $700
5 - Coinbase - $685
6 - Rangeley Capital - $660
7 - SecondMarket - $651
8 - Coinbase - $640
9 - Matrix Capital Management - $601
Block 10 - Yelp - $626
Is this list real?
Seems very unlikely that SecondMarket would enter a bid itself. Can people see why that would be a big ethical problem?
Why? We all know second market wants/need tons of bitcoin and are in for the long run. We also know they are pretty smart investors and they know that buying 30000 bitcoins on an exchange would be problematic. For more than one reason.
1) their funds could be stolen (get goxxed)
2) their funds could be trapped at the exchange for months (withdrawal limit)
3) their bid would increase the price and start a rally (which means they'll have to pay much more)
It's not unethical, it's smart
92.
Post 7598415 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
Seems very unlikely that SecondMarket would enter a bid itself. Can people see why that would be a big ethical problem?
Why? We all know second market wants/need tons of bitcoin and are in for the long run. We also know they are pretty smart investors and they know that buying 30000 bitcoins on an exchange would be problematic. For more than one reason.
1) their funds could be stolen (get goxxed)
2) their funds could be trapped at the exchange for months (withdrawal limit)
3) their bid would increase the price and start a rally (which means they'll have to pay much more)
It's not unethical, it's smart
The list was already admitted to be false, but supposing it were real..
If those three lots supposedly bought by SecondMarket were the syndicate bids, no problem.
If SecondMarket placed bids of their own (as you assumed), there would be a problem. They knew the syndicate bids, and those bids were more than enough to cover all the lots. Therefore, bidding below them would be stupid, bidding above them would betray the trust that the syndicate participants deposited on them. Ditto if they entered the syndicate with bids of their own.
Thus, we should conclude that SecondMarket did not bid, except as representatives of the syndicate. Which means that their expected fee revenue from the syndicate members was greater than their expected profit from bidding at the auction.
As for them needing coins in the long run, that is not how their fund is supposed to work. They should buy only when people buy shares of their fund. Ostensibly they make money from fees, whatever happens to the BTC price. They could get extra profit by buying coins in advance if they expected the price to rise, but that would put the fund in a risky negative-cash position. On the other hand they will never find it hard to buy the coins they need at near market price, since OTC price will not be far from it.
Oh, i must have misunderstood than.
But i also think the list is fake, i was just making a statement regardless of the validity of the list.
93.
Post 7603847 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
have to cash out a few btc. better now or in the morning? whats the odds its hits 650-660 tonight?
74.9998%
thats a very exact percentage? :L how did you come up with that?
Well, I took a piece of paper and rammed it real hard up my ass. Just as you asked, I noticed a tickle around my butt. Sure thing, the answer was out. However, that was for $635. $650 is only 12.4106%.
Fuck, this made me laugh.
If you like to laugh about percentages see my sig
that joke is actually funny, no lie.
94.
Post 7603971 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
Coinfloor exchange is now accepting UK Fast Payments for deposits - the first UK exchange to do so!
so sameday deposits.
You are lucky. Here in France, bitcoin-central is slow. The quickest exchange i know is kraken: 24/48h to get a sepa deposit registered on it.
Actually I have been using Speedy Bitcoin for a while and that is instant and has been for ages.
They're UK based and BTC in your account within minutes. Been very handy in sudden moves - there is a fee - but in that "Shit! No way of buying but look at the price" moment - it has been invaluable.
In the Netherlands there's
bitonic, it's also instant. But it's not really an exchange. Still they usually have about 500 bitcoins in reserve. (sometimes more sometimes less), however you can only buy for €10.000 per transaction, and a maximum of 25 bitcoin (whichever comes first). They are reasonably cheap, but more expensive than exchanges. However since they are instant, they're less risky.
You need to have a bank that supports iDeal (the Netherlands) or MisterCash (Belgium), in the future all SEPA countries will be able to use MyBank. They only allow these payment options because they are instant.
95.
Post 7608427 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
So do you guys think we are going to make it back to our home of $666? People are just itching to dig that thread again...
make that ~$800
the power of memes is just too strong, $666 will be tested a lot again. And hopefully we will leave that number behind once and for all (and to the upside preferably).
IF we get past 666, we shoot up to what? $700, $800?
Edit: Yeah, Fluoride is crapola!
My guess at the next stops:
$666
$680
($700)
$750
$800
$900
$1000
$1150
$5000ish
TL; DR: We are at 650 in the beginning of July, 2014.
ALL SAID.
WoW, Risto nailed it this time
you forgot the best part:
This will happen slowly but steadily during 7 weeks.
which was not far from the truth either.
96.
Post 7608941 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
you forgot the best part:
This will happen slowly but steadily during 7 weeks.
which was not far from the truth either.
Are you kidding? It couldn't get farther from the truth. There's been major dips and steep climbs in that time.
$650 seems to be spot on however.
relatively stable for bitcoin terms
97.
Post 7618278 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
I like 80%+ of Tera's posts.
There is no need to target everyone who doesnt think btc will hit 100k in the next week. Ever super bears do not bother me if they actually mean what they say, and not just posting crap for attention (aka some people we all know, no need to name them)
Agree but thing is with TERA, while
she is indeed a good trader you cant help but think bullshit every time a movement happens and
she claims to be on the right side of it despite being super the other way 5 mins before. Funny you mention the other one, he actually predicted $650 1st of July, scarily accurate.
How do you know he is a good trader? Everyone can say they are good at trading and make 1000% profit each day on the internet.
He is a good chartist and has a very analytical way of thinking is all I can say from
his posts, which doesn't automatically make him right or a good trader.
Why is there so much confusion about TERA's gender?
because half of the people on this forum cannot deal with the fact that a woman might be a) interested in Bitcoin, b) articulate (after all they have never actually spoken to a woman) and c) smarter than they are.
lol
don't forget: d) their asperger glands get rubbed the wrong way if they aren't
sure if someone they're communicating with on the Internet is a man or a woman. "I demand to know your gender!".
what about e) they aren't even aware that different genders exist.
98.
Post 7620809 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
This multi day rally :I
Guess who's back.
(hard to believe he's bragging about $34 highs hardly even 1 year ago).
99.
Post 7620868 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
How can we get new fiat in?
ask the FEDs, they have plenty.
100.
Post 7625110 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.56h):
Times are A changin'
(Don't donate if that scans
)
reverse psychology?
it is an actual address, 0 transactions though.
101.
Post 7653154 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.57h):
facebook twins show progress on nasdaq
bidder of btc silk road auction comes forward (big into btc investment)
newegg says it will take btc
kuwait oil (dept of some kind) says use btc to pay for oil
BITCOIN DOES ZIP STAYS AT AROUND $645 usd
One small 12 year old girl with a blog in china says that chinese gov't is gonna ban the sale/mnfg of bitcoin miners
and BTC drops to 400 usd
humans are soooo silly
Searing
I have a 9 yo girl. Can I buy bit coin at $20 if I teach her how to perform child labor in an asic factory and blog about it in her spare time? Please say yes please
I know right?
There has been nearly in significant bad news for months, many good news, and the price won't go up.
What's wrong with people? Obvious rally is waiting. All this upwards potential has to release sometime, a correction to the upside is bound to happen and I think it could be pretty big this time.
Also, did you hear mark Karpeles actually farts sometimes? The next time he farts bitcoin will drop by $40 for sure.
102.
Post 7653293 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.57h):
cost / value ratio Plummets yet again!
I'm just going to repeat myself, this is not sustainable, >800$ next week GUARANTEED
It's getting ridiculous how much good news and how un-stoppable bitcoin is becoming. Next serious surge could send us to hundreds of billions marketcap.
So what is keeping the train at the station this long? Or are those of us that have been through a "bubble" or two just getting a bit impatient this time around? I guess we were stuck at about $120 and $140 for a while last Summer.
I am astonished too. I guess the delay in the system, from interest to actual demand, is far greater than I previously thought. Half year to a year.
We have an exchange problem. It is simply not easy for the masses to get money to exchanges or to buy bitcoin. Likewise, it does not fell legally safe for large institutional buyers to buy from exchanges.
When these things change we will see another bubble. Could be this year.
Depends on where you live, in the Netherlands and Belgium it's very easy to buy bitcoins, (
www.bitonic.nl allows you to use iDeal and mistercash only, both of which are instant payment methods between your bank and bitonic.
It can't get much simpler than that, and soon the whole SEPA region will get similar payment methods like iDeal so bitonic might become even bigger in Europe.
103.
Post 7671703 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.57h):
What the hell?
What's up with all the bears lately?
Another flash crash, really? How many more do we need?
104.
Post 7673745 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.57h):
europe banned bitcoin ?
No, Europe did not and will never ban bitcoin.
They just warned banks that they should not deal with bitcoin because it's too risky.
They do not even say banks aren't allowed to use it, they just advice against it, and only for banks.
As always, bitcoin price overreacts heavily to news that sounds bad (even if it's not bad news, banks did not care about bitcoin in the first place). And it does nothing to reflect all the good news lately.
Even more reason to believe the price will soon skyrocket, because we have been ignoring the developments of the past few months completely.
105.
Post 7679967 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_12.57h):
In what year will the price of bitcoin be higher than the page count in this thread?
this year.
Nah, but most probably will be next year, this year it's really hard to move up above 1k$.
I agree it's probably next year, but still i think we'll get at least halfway this year during the peak.
106.
Post 8198615 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.03h):
What can I say ... people need to come back from their holidays and start trading again ...
We were all (90% of us) predicting a rally during the Summer.
Perhaps there is still a chance for a rally this month but at this point I think that the rally might be little after the Summer ...
Or maybe there won't be a rally at all this year
I highly doubt that, we are later than most of us (including myself) expected, but i don't think the rally will be delayed by 5 months
107.
Post 8198688 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.03h):
Lesson to be learnt:
Don't use that stinking shit they call "money".
They'll rip you off longterm.
Short fiat, long everything else.
Fiat is not meant to be hodled.. it's meant to be invested or consumed.
Hoarders who stall economic growth are punished for a reason.
It's not economic growth when just the numbers increase. And usually the prices increase much more than the wages.
Nice economic growth when the majority of the people gets ripped of, and only the stinking rich get even richer.
All this so called growth does is increase the gap between rich and poor.
Compared to now:
New house: $250000 or so (64 times increase, so about 3 times more expensive in terms of income) Also note that since everything is more expensive nowaday few people actually have income left after all their expenses, unlike in 1938, so the actual effect of inflation is much worse. You should adjust for 'disposable income', you'd be shocked how little disposable income many people have nowadays.
Average income after tax: $39588 (22 times increase)
New car $20000 (23 times increase)
Monthly Rent $1500 per month (56 times increase)
Movie ticket $12 (48 times increase)
Gasoline $3.63/gallon (36 times increase)
everything is much more expensive compared to the wages which increased much less.
Also, when you save up your money for later use you'll only have a fraction of what you saved.
108.
Post 8198965 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.03h):
It's not economic growth when just the numbers increase. And usually the prices increase much more than the wages.
Nice economic growth when the majority of the people gets ripped of, and only the stinking rich get even richer.
All this so called growth does is increase the gap between rich and poor.
Thats the game. Play by the rules or take your chances
You should not treat life as a game that you can win or lose, because in the end, for every winner there will at least be one loser, while the earth has plenty of resources for everyone to enjoy life.
life should be about sharing and caring, not about hoarding for your own pleasure.
A corrupt financial system that is designed to gain more profit to those that invest and recklessly spent money (and even take loans to spent more, rather than saving up for later) is inherently wrong for that very reason. It promotes greed and irresponsible use of resources.
109.
Post 8711665 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.11h):
in august we had in btc a google trend of 22, now in september its 25. could this be a signal for the next bubble?
It could drop back if the price and activity don't follow soon.
But the activity is nearing the previous high, and once it surpasses previous highs we should also start to see new highs in value.
That will also increase the amount of google searches on bitcoin.
110.
Post 8761607 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.11h):
most of chinese volume is probably artificial
we should be leading, not following.
111.
Post 8804498 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.12h):
would be nice to get that excited that easily,
112.
Post 8844233 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.13h):
113.
Post 8844251 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.13h):
Ristos little baby XMR is going to rally at any time now. So much fight, talk, troll about it yet it is a coin that has attracted a lot of early bitcoiners with the anonymous mentality. The whole altcoin section of this forum is like a war of children screaming for attention by the one who can troll the most.
Monero featured in LetsTalkBitcoin podcast here, around 20 minutes in:
https://www.youtube.com/watch?v=0qEi5fQcVaki tried to mine it once, but never got any of it, stopped caring after that.
114.
Post 8868981 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.13h):
cool story, except chips are getting smaller and more efficient each few months or so.
That's why a miner that is delivered even a month or three late is worthless on arrival. It will immediately be outclassed by more energy-efficient miners.
It's not a race who has the most hashes, it's a race who has the best Hash/Joule ratio (and also cheap energy, because in europe you're screwed anyway, *cough taxes cough*).
115.
Post 8884496 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.14h):
They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?
I have a bunch of rocks in my yard. They formed long, long ago. And they will be with us for a long time to come. How much are they worth to you?
You are coming across as a simpleton.... have you heard of scarcity? Probably you need to edumacate yourself about bitcoin basics before you come in here lecturing about bitcoin's hypothesized lackings as a storage of value.
while you at it google Portability Divisibility & Fungibility
Each of us can become better edumacated about some of the BTC basic features:
scarcity
portability
divisibility
fungibility
and likely several other BIG words.
Bitcoin is getting a quite complex jargon nowadays
HODL
SHOTR
Edumacated
Cut your loose
By the way, did ChartBuddy commit suicide?
116.
Post 8905181 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.14h):
It will keep bouncing up.
i'm not so sure about that, it may still retest $340
117.
Post 8907147 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.14h):
New fiat is not entering Stamp. It does not have the fuel for another bubble.
Let me draw your attention to
http://www.ripplecharts.com/#/valueSet to Capitalization, USD, Stacked, Year or Quarter, and show only SnapSwap (select gateways bottom). A bubble is brewing, but not for bitcoin.
how do you know that new fiat is not entering stamp? Are you their bookkeeper?
118.
Post 8907212 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.14h):
119.
Post 9049523 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.18h):
Long Term view:
we are in a crucial support zone...
If 339 USD holds, I expect a trend reversal. If it doesn't, we can bo back to 260 and even lower
I'm sorry to bring you this news but drawing lines on a chart doesn't work. It's a total waste of time.
Still, $340 is a strong support line, I don't expect it to break, but if it does, that's very bad for the short/medium term.
120.
Post 9266161 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_13.25h):
Bitcoin CEO Spotted
In b4 he pulls some kind of scam, ends up in jail, and people think bitcoin is finished because the CEO of bitcoin is in jail.
121.
Post 12709288 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.28h):
whats going on!!!!??? I thought the whale was supposed to hold the price down until after the marshals auction???
had some buy offers in at $240.... fkkkk
same here, about a month ago or so i wanted to buy 2 bitcoin, I bought one at €190 or so, and waited with the other €205 or so for the price to drop a little.
Seems to be a mistake to wait, because I doubt it will even get close to €200 again, let alone €190. Should have just bought 2 bitcoin at €190 instead of just one.
122.
Post 12823940 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.29h):
Very suspicious looking poll, most people would of-course on 201-350 with makes the outlook of bitcoin bad of if you vote differently make you look plain silly.
the polls in this thread shouldn't be taken to seriously anyway.
It might give a bit of an indication on the feeling of a portion of the market, but it doesnt mean a lot in the big picture.
123.
Post 12825027 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.29h):
China says "Time for more UP"
How much has the price risen compared to last night in china?
I can imagine some Chinese investors waking up to a 10% rise (or whatever the amount is) and panic buying really hard, driving the price up even more (assuming they had some left over CNY in the exchange or can move fiat there quickly).
124.
Post 12832661 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
...
else its just one other centralized scam a la ripple or eth.
...
I like my scams decentralized, like Bit coin.
tell me more about how the dollar isn't a scam.
125.
Post 12839959 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
We're doing good I think. Close to $330 and haven't dropped much last night.
What do you expect for the weekend?
Will we make a break and continue rising on monday?
Or maybe stay here around $320 - $330 for a while, going sideways?
Stay here for weekend, fall in Monday is the biggest possibility. We'll see a lot of 300-320$ moves next week.
I just hope that we won't touch sub-$300 as I jnow it will cause a sell-off and we will go down pretty rapidly.
Oh the wonders of human psychology.
$300.01, perfectly fine, $300.00 still good.
$299.99 PANIC SELL ALL THE COINS!!!!!!!1111!!!1!1!
126.
Post 12862007 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
I nearly passed out when I checked the price. I've been so busy today I haven't really looked.
So.......what the hell is happening???
'Murica grew some bigger bawwlz
she: what are you doing honey?
me: just checkin the charts...
she: that´s what you are
always doing!
me:
this time it´s different...
"See this little green thingy right here? That's your shopping spree being covered."
i dont know what you are smoking but china is at CNY 2345 right now (about $370) while USA is only at $350
you're still way behind, step up your game.
127.
Post 12862030 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
Wait for China to woke up (3 more hours) and this thing is going to get very mad.
if china wakes up, and they have a lot of bitcoin that they bought yesterday, or even friday, and see the price this high, they might actually sell some of it, which might actually drop the price.
at least for the first few hours.
128.
Post 12863110 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
Do you have a better explanation? I don't see any news or rumor that could explain it.
I just posted the explanation Stolfinator. When something like 70% of coins have been mined, price has already hit the bottom as evidenced from the last year, and the upside potential is listed below, we haven't witnessed anything close to a bubble yet:
Incoming $163,000,000,000 market cap and $7700 coinshttps://bitcointalk.org/index.php?topic=1235466.0Well, six months ago 68% of the coins were already mined. Why wasn't the price ~$340 back then?
Didn't investors then know that, within six months, 70% of the coins would be mined?
Whatever the cause for the rally, one thing you should keep in mind: every penny of profit that a bitcoin investor makes can only come from the pocket of another bitcoin investor...
that is assuming the market is a closed system, but it's not.
there's constantly new buyers entering the market, who also want a share of the pie, but the pie is very limited, so the more people want a share, the more expensive the shares become.
Sure, a lot of bears lost money, which made a lot of bulls a lot of money (for the first time in years, at this scale at least), but a lot of gains also come from new investors.
And we haven't seen the end of it yet. This is just the beginning.
129.
Post 12864091 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.30h):
Does it go back south now?
130.
Post 12883877 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.31h):
440-470 at its current rate .... any correction will quickly get eaten up and likely recover in 30min to 1 hour . This volatility is very bad ... it reflects that bitcoin has reversed course and no longer becoming more stable year after year but still very immature and volatile ... hopefully this will change in 1-5 years.
That's news? It wasn't stability it was despair and boredom.
agree, if bitcoin as an experiment is successful, it's price must shoot up many times.
Lmao at people who want Bitcoin to be stable at $200s
How is something with a market cap of 3 billion or so going to be stable in a quadrillion dollar economy?
Some people like zuckerburg and other rich guys don't even have to spent 1% of their networth to buy Bitcoin in its entirety at those prices.
Get real man, Bitcoin can't be stable anywhere below $100,000 and even that is too low.
Most likely it will be somewhere between 1 and 5 million per coin before it resembles anything that looks like stability.
131.
Post 12903677 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.32h):
I just wish the price would stabilize sometime
That's not going to happen anytime soon, so it makes little sense to request the nearly impossible
not only is it impossible, it's not even desirable.
Bitcoin should not stabilize with a 5~10 billion market cap.
It should stabilize with a market cap in at least the area of several trillions. (yes, trillions), if we want it to be taken seriously as a global currency.
Moreso if we're aiming to be a reserve currency.
Seriously, a 10 trillion market cap is about right if we want to be somewhat comparable to euros. And in my opinion bitcoin should easily trump fiat currencies like the euro. I wouldn't even be surpised if we get a market cap of 100 trillion or even a quadrillion in the not so distant future (but not too soon either).
Of course, if that happens, we would not even use fat anymore.
Now you might say, a quadrillion? that's ridiculous, we don't even have a quadrillion dollars.
But, at that point, everything will be priced in bitcoins, the stock market, the whole oil, gold, silver and PM markets, everything. All will be tied to bitcoin instead of to the USD.
Imagine what that would do to the price of bitcoin.
132.
Post 14677090 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.49h):
Scientist begin to understand why bitcoin turns green while fiat turns blue during testing
POSITIVE EFFECTS ON PRICE EXPECTED! is bitcoin a safe and natural food coloring?
133.
Post 14772226 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.50h):
Well I'm glad to see Craig didn't manage to destroy the value, maybe we'll be seeing a few people coming to Bitcoin with a new interest in it, or just out of plain curiosity.
Maybe we can get more people coming out of the woodwork and start claiming they're Satoshi, I wouldn't mind seeing this trend continue
I just love that picture of satashi nakamoto, even if he's not the founder of bitcoin, it's just such a nice picture.
i do not approve, of anything. lol
134.
Post 14867906 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.50h):
it still took quite a while after that for the price to rise, but rise it did.
135.
Post 14924416 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.50h):
ETH is a scam now?
Altcoins aren't necessarily bad to bitcoin, I don't know why people have to be so negative about altcoins. Alts are a great experimenting ground for features that could make it into bitcoin.
136.
Post 14986526 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
the big wow factor will be when >75% hashing power + economic majority HardFork bitcoin to 2MB blocks.
It's already going to 2MB blocks + segwit with 2017 hard fork anyway, which should be an effective 3.x MB block size. That's why there's not much of a reason to make a big deal out of it unless someone tries to renig. Also, weak blocks make raising block size not an actual problem and weak blocks is already planned here:
http://coinjournal.net/blockstream-president-adam-back-shares-roadmap-scaling-bitcoin/There's not even any argument that Bitcoin will or won't be scaled, it's just that people believe core is doing it too slowly, but that's just how it is when you actually have to develop and test things first for something where you make a mistake would implode billions of dollars.
There is no guarantee it will happen it can only happen if mostly everyone wants it to happen. that much has been made clear as day in the past year. ( to the point were people are afraid nothing can ever happen because getting "mostly everyone" to agree is "impossible" )
when the HF happens and we get our first 2MB block 10mins later.
people's heads will explode.
dont kid yourself the 2MB HF will be a BIG DEAL.
lol, big deal yeah, massive dump.
but it aint going to happen, gonna need a tad bit more than a buncha whiny shits to fuck with Bitcoin.
it's funny how back when they reduced the capacity from 32 to 1 MB a few years back as a 'temporary measure against spam attacks' no one cared, but when we need to up it to 2 MB it seems to be a large debate over nothing.
Seriously, why is everyone making such a fuzz about it.
137.
Post 14987321 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
not steep enough an angle
needs over 90 degrees
138.
Post 14992873 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
meanwhile, bitfinex shorts have increased in the last 24 hours
i've heard rumors the coming bubble is fueled by the tears of shortsqueezed bearwhales.
139.
Post 14996928 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
very, very dangerous market you idiot shorters ... the dragon is awake.
just let them be retarded, the more they lose, the more we gain.
140.
Post 15004455 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Lauda's cat is prepared.
If we hold over 500 expect to see 600+ before the end of next week...china is pumping now!
It is already at ~545$ over there.
3860 CNY = ~$587
141.
Post 15004490 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Cheer up, gentlefolk. The price isn't falling that fast. Why would it, after such healthy organic growth?
Falling? The price is increasing. You must have your chart upside down.
Sure, falling
But ... chin up! Easy come, easy go, amirite?
bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.
Pathetic people with severe depressions, seriously.
142.
Post 15004561 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
bears are always bearish, even with a rise like this, they complain as soon as the price drops by $1 even for 2 minutes.
Or by $16, but who's counting?
who cares about a drop of $16 when we just rose by $100
seriously, are you fucking blind or what?
143.
Post 15005716 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
it could be good going up for 600 dollars
maybe we will also get a swing directyl to
1000 2000:P
Wait till media halving hype kicking in.
In my understanding btc real vallue will me 800 eur after the halving. But bulls will pump the shit out of it because the hype so I really expecting 1000+ at least and a bear market till the next halving.
does the media (and with media i mean media actual people read, not the 'media' that only reports on crypto and only gets read by people who already own bitcoin) even know about the halving?
144.
Post 15005731 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
OMG Huobi $589, the west $530, still a big gab but im delighted
I'm looking at
Bitstamp 521
BTC-e 501.7
Bitfinex 532.09
Huobi 589.87
...which means we have spreads like 6% between btc-e and finex, 11% between finex and huobi, and 17% between huobi and btc-e.
If anything, these spreads show how broken legacy banking is and the difficulties of global mobility of funds between countries and markets, in terms of feasibility and speed.
Bitcoin is simply light years ahead of problematic and slow legacy banking and it shows in how legacy banking is creating arbitrage opportunities with vast spreads in the (much-faster-moving) btc market.
BTC trading in particular seems to be the "vehicle" of exposing legacy banking for its inadequacies...
we need an arbitragecoin.
145.
Post 15014442 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Flushing money down the toilet? The price is rising. I will ignore you from now on you're clearly trolling.
Bitcoin is arguably the best investment in 2016.
Best investment?!
Lol, Ether went up more than tenfold, more than
ONE THOUSAND PERCENT! Bitcoin did ...what? Go up less than 20 percent?
Best investment
The year isn't over yet
146.
Post 15015703 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
market is bullish cant argue with that
it will take 5 years to reach $500, we're only at $450 now
kappa.
147.
Post 15018408 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Looks like we've lost the price point. This will be a roller coaster until we reach $666 or $450/$420.
Hopefully we just hit $666 long enough for some rocket fueling stability.
oh the $666 troll hype again
pretty likely it will stuck around that for a while
148.
Post 15023250 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
More than 90% of exchange volume is happening in China.
Almost 80% of bitcoin mining is in China.
https://bitcoincharts.com/charts/volumepie/Where's the most "powerful national firewall"? In China.
That's hilarious, by the way.
you know, if we really have to we can make the bitcoin protocol work without the internet.
just because we use the internet now doesn't mean we have to, there are so many other networks that can support bitcoin, or we could just make our own network.
149.
Post 15023407 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Look how time flies, down $10 since that was posted.
LOL yes only if they were trolls would be even funnier
150.
Post 15028512 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Looks like it's getting tired
I find it kind of funny in a strange sort of way, how it seems that one exchange (Bitstamp) had been kind of holding us back and delaying further progress with our rocketing journey.
I don't know what to believe, exactly?
For example, if it wasn't Stamp holding us back from our upwards journey, would it have been another exchange that would have been serving such a purpose?
Is the holding back just a necessary evil that has to play out in one location or another, or is there something else going on in respects to Bitstamp?
Chinese people selling their bitcoins bought on huobi on bitstamp to get dollars?
151.
Post 15028544 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
Since btc is cheap compared to what it will be very soon, I just purchased 50 more.
I wish I had the kind of money to just casually afford 50 Bitcoin.
Oh well. At least I have a few Bitcoin, so I guess I can't complain too much.
152.
Post 15030435 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise. KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust. As soon as that happened they let the price go up to a new level ... where they think they can manage it.
These shennanigans have released some important information into the market, givn some of the game away so-to-speak. Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate. Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.
BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed
the main sellers are miners, and to some extend also shops that accept bitcoin
sure there are some investors who sell and buy back cheaper, but since they buy back cheaper they end up buying more coins than they sell, so in effect they don't count as supply, but as demand. Unless they hold their profit in USD, in which case they'll become less significant every time bitcoin gains value, because their USD becomes worth less, so that makes them less powerful.
So if the production cost of bitcoin increases, we can expect the price to follow suit. t won't be an instant increase n price (some people think the halving will immediately drive the price up as soon as the first block is mined with a 12.5 BTC reward) of course this will not happen.
But a few months after the halving the new stable price will become much higher than the current price. And at least double of what it is now.
153.
Post 15068611 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
what is CSV? (in bitcoin, i don't mean the filetype).
154.
Post 15071446 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
155.
Post 15071508 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
^What is a lagging indicator?
lagging indicator or not, every time the google trend chart peaked like this, the price also went to an ATH.
thus it's reasonable to assume we will see a new ATH.
156.
Post 15071895 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
^What is a lagging indicator?
lagging indicator or not, every time the google trend chart peaked like this, the price also went to an ATH.
thus it's reasonable to assume we will see a new ATH.
we see interest peek Before we see price move higher, which makes perfect sence, everyone first learns about bitcoin seaches up on it and THEN buys...
so that google chart is said to be a lagging indicator.
that would be a leading indicator than
I'm fairly sure it's both lagging and leading. It's self-reinforcing.
157.
Post 15071922 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
^What is a lagging indicator?
lagging indicator or not, every time the google trend chart peaked like this, the price also went to an ATH.
thus it's reasonable to assume we will see a new ATH.
1. Flying saucer lands in Central Park.
2. Google Trends "flying saucer" through the roof.
3. ? ? ?
4. If you want to know next time Martians are coming to Central Park, watch Google Trends.
@adam, "bears" are not the opposite of hodlers, they don't "short no matter what." They need these pumps as much as anyone, without bull euphoria, nothing to short
apples and oranges.
1. bitcoin price rises a bit.
2. people get more interested in bitcoin (google searches go up)
3. more people buy, because they learned about bitcoin after searching for it
4. price goes up, because increased demand
5. repeat.
it's a self-reinforcing indicator, that both leads and laggs. Only when the new demand can no longer keep up with the increased price (which will cause a surge of supply, as more people will sell for higher prices), the price will drop, and people will lose interest.
158.
Post 15080163 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.51h):
I just revisited the Wall Observer...
Wtf happened, it's full of troll and shitposts lol
i remember when we had a meme-speculation threat, and this threat was full of charts.
Now this is meme-speculation.
159.
Post 15092263 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
I actually don't trade Bitcoin anymore because it's not volatile enough
lol?
on a regular day you might see a top of $500 and a bottom of $490 for example
that's only $10 difference on $500 which is a small difference (2%) and it's hard to make profit from that, especially after fees. And a lot of the time the price doesn't even reach the daily top or bottom so the spread is even less.
160.
Post 15093338 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
I actually don't trade Bitcoin anymore because it's not volatile enough
lol?
on a regular day you might see a top of $500 and a bottom of $490 for example
that's only $10 difference on $500 which is a small difference (2%) and it's hard to make profit from that, especially after fees. And a lot of the time the price doesn't even reach the daily top or bottom so the spread is even less.
Then change the exchange??? For example there are some with no transaction fees. ( but they might require more paperwork and might not be so anonymous )
it's not even worth the risk of trading for a profit that small. Not even with 0 fees.
161.
Post 15094506 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
I actually don't trade Bitcoin anymore because it's not volatile enough
lol?
on a regular day you might see a top of $500 and a bottom of $490 for example
that's only $10 difference on $500 which is a small difference (2%) and it's hard to make profit from that, especially after fees. And a lot of the time the price doesn't even reach the daily top or bottom so the spread is even less.
Then change the exchange??? For example there are some with no transaction fees. ( but they might require more paperwork and might not be so anonymous )
it's not even worth the risk of trading for a profit that small. Not even with 0 fees.
Well dunno ... but for example I have a legal right to criminal prosecution of the owners of the exchange that I do my trading on. Usually this happens when you are from the same country and especially if you are from the European Union or US.
And I did made 25% of my total bitcoin for this year in bitcoin ... and the fiat is almost double since I had my coins bought when it was 380$ ... I regret a bit not buying when it was 200$ .. I would have managed to make 10k euro's very quickly ... but I will be pleased with the future if I keep my +10% portfolio monthly increase!
But I have no transaction fees.. but I have a greater tax percentages when I pull my coins or fiat out of the exchange or place them in to the exchange. That's the only big bad mojo ... and another would be the low volumes for now. But from my analysis the exchange has an algorithm that makes good profits so I'm assured that all will be fine.
it's not even about stealing, it's about trading itself being risky.
you never know for sure if the price goes up or down, and if you predict wrong, you lose money. And with such small swings, it is too much risk and not worth your time or the risk.
Risking $500 to make $2 is a stupid idea.
Even if you bet right 200 times, if you bet wrong just once you lose all your profit.
It's just not worth it.
162.
Post 15094537 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Looks like we found resistance.
Now Lets see if we are able to consolidate or face slow downtrend where all the enthusiast will buybuy.
You are calling this way too soon.
We have a little bit of price stagnation for a couple of days and you are calling that "resistance?"
if you had never noticed, BTC price action is frequently with periods of high activity and lulls for a couple of days or more.... there will be movements and corrections... and really we remain on an upward trajectory, for the moment, even though currently, we are experiencing a kind of lull.. and all of this on relatively mediocre trade volume.
Furthermore, sometimes on the weekend there will be a lull in BTC trading action for 1 or 2 days, and I am not sure if this lull is on purpose, but it does make sense to potentially preserve some of your battle capital (fiat in your trading account) until towards the end of the weekend rather than attempting to blow it all early in the weekend. At the end of the weekend, you have a pretty decent sense of your own quantity of fiat and you have a pretty decent sense that quite a few others will be able to come in with weekday reinforcements of additional fiat.
So essentially, we are in a bit of a wait and see period regarding the price direction and regarding whether there is going to be significant resistance at $600. At the moment, I am not recognizing $600 resistance as being considerable.. but yeah we could be in for some major surprises if some whales are holding hidden BTC and want to risk selling at this price.
Based on recent BTC price performance and the level of trade volume (seems fairly mediocre), which to me means that this price trend could carry fairly easily into the upper $600s without a lot of effort, and may even carry into the upper $700s before any kind of meaningful battle may begin....
I would be considerably surprised if we were to travel passed $800 on this run without some kind of significant price battle (and correction), and we all know what is fairly likely to happen once we get significantly into the $800s..... (FOMO, new ATH... blah blah blah) so I am fairly certain that bears, financial shills and even some governmental entities would want to put up a decent attempt at resisting to prevent BTC prices from getting that high... although some of them may be so fucking distracted by ETH and "blockchain" bullshit that they do not recognize the actual power of the real BTC infrastructure that has been created.. got a lot of developers and investors to thank for that.. in spite of the previous XT/Classical sabotage efforts...
163.
Post 15096209 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
it's not even about stealing, it's about trading itself being risky.
you never know for sure if the price goes up or down, and if you predict wrong, you lose money. And with such small swings, it is too much risk and not worth your time or the risk.
Risking $500 to make $2 is a stupid idea.
Even if you bet right 200 times, if you bet wrong just once you lose all your profit.
It's just not worth it.
I have no problem with gambling ... as long as it is calculated. You know what I was doing before trading Bitcoin? ... Nope ... I tell you!
I had a statistical algorithm that I reverse engineered to try to predict lottery numbers from different automatic computer generated lotteries. You do math, and you win!
But there where unnecessary cost sometimes where I couldn't follow my projections cause I had too many tickets rolling in the same time... I took time to do the math.. keep count of things... the actual physical time consuming trip to the lottery even if it was 50 meters away from me! I manage to spend less than 30 minutes per week with that and it still felt annoying! Even if was winning 100% after a period with a margin of profit between 50% < - > 1200% ... it was stressful.
But if you have done the math.. on the market share numbers, there should be less than 1> Bitcoins per person on the planet... meaning that soon people will have a buy-in paying literally for "peanuts" ... 0.05 Satoshi will be like in half a year the new Bitcoinlandia minimum monthly wage for many people!
I know that, and I'm holding too, if you ever read any of my posts you'd know i'm probably one of the biggest permabulls around.
But that doesn't mean I like to risk my bitcoin by trading them.
Especially not when the spread is so small that you can barely make 1% of profit, if you guess right.
164.
Post 15096255 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
4000 CNY and especially 4444 will be huge psychological resistances in the middle kingdom. 4 in chinese is "sì" (四) and it sounds a lot like "sî" (死) which means death... The chinese people don't like it and try to avoid using it. In elevators for example you might find floor 3a and 3b and floor 5 but no floor 4. Not really comparable to 13 in the west but you can get the idea. ( Most of the airplanes i have been flying with did not have a seat with that number). So there could be some trouble if we do not get past that cursed number quick... On the other hand we might just overshoot it to 5000 cny which would be really great if the western exchanges just follow. My next target is +760$.
Now you can enjoy the rest of the nlc show i guess. kthxbye
we have passed 4000 CNY before, and we will do so again, but you're absolutely right 4000 is a mayor barrier for the chinese to overcome.
But 6000 and 8000 will be heaven though.
165.
Post 15100950 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
^
>Already rich
>peddling shit on ebay, bawws about 90 shekels.
We got us a rich badass here...
Nobody likes getting robbed, trollfag.
Aren't you the guy that's so butt-ravaged that Bitcoin is doing so well lately?
I've stopped reading your posts about 50 pages back.So what is the source of your ass pain from bitcoins recent explosion? You sold all your bitcoins recently?
You being paid off from jew bankers or ETH shills? You getting paid .05 cents for each shill post? Does it go to your paypal or bitcoin address?
I'm loving all these shill posts on multiple websites, your tears are delicious.
responds to his post.
Something doesn't quite add up.
166.
Post 15106785 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Good morning Bitcoinland.
Still trying to digest the move up past $580 I see.
Couple more days of generally sideways before the next leg up, or do our Chinese friends speed things up?
doubtful that the chinese will speed us through 4000 CNY.
massive barrier there, i think the west need to drag china from 3999 to 5001 before they will start carrying again.
Chinese are very superstitious, and the number 4 is very bad to them.
167.
Post 15114949 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Cost of production is doubling in less than a month ... that will set the new floor for bitcoin price to the $840-960 range (at the minimum without difficulty increases) in the medium term.
Cost of production for a monetary good is the economic defence against counterfeiting. While gold is money, and sometimes attracts a monetary premium substantially above it's cost of production, for someone to produce gold "from nothing" they need to expend an equivalent amount of resources to the cost of production. Over long terms the price of the monetary good may be attracted to its cost of production but ultimately that is as cheap as you can acquire it for, as long as it is still desirable as a monetary good. For the same reason the lowest value of fiat paper money is the cost of the paper it is printed on and the ink, i.e. it's cost of production (about a few cents for a $100 bill).
While bitcoin is still valued as a monetary good, that can be transported in minutes across the internet as a final settlement for bearer instruments exchanged on a censorship-resistant network, it still needs to defend against counterfeiting. The cost of production defends against counterfeiting since this is as cheap as you can produce bitcoin. If bitcoin becomes more desirable for other reasons of its utility, such as store of value, medium of exchange (network effect increasing), etc., then it may easily attract a monetary good premium on top of the cost of production, but the cost of production has invariably set the floor for the lower bound on bitcoin prices, as long as it has remained a monetary good.
Bitcoin is still monetising.
agreed, the lower boundary of the rpcie is the production cost.
It could accidentally be below this value for a short time, but never for long.
The upper boundary is pretty much unlimited (limited only by the amount of value we can exchange for it). So the absolute upper value would be everything in the world divided by the amount of bitcoin in circulation. Of course we would never quite reach that value, but that would be the absolute upper limit it could never go above.
168.
Post 15116358 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Price movements seem to indicate that by june 10th we would probably either break the 4000 CNY barrier (about $600) or we would drop back a bit.
169.
Post 15117470 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Cost of production is doubling in less than a month ... that will set the new floor for bitcoin price to the $840-960 range (at the minimum without difficulty increases) in the medium term.
Cost of production for a monetary good is the economic defence against counterfeiting. While gold is money, and sometimes attracts a monetary premium substantially above it's cost of production, for someone to produce gold "from nothing" they need to expend an equivalent amount of resources to the cost of production. Over long terms the price of the monetary good may be attracted to its cost of production but ultimately that is as cheap as you can acquire it for, as long as it is still desirable as a monetary good. For the same reason the lowest value of fiat paper money is the cost of the paper it is printed on and the ink, i.e. it's cost of production (about a few cents for a $100 bill).
While bitcoin is still valued as a monetary good, that can be transported in minutes across the internet as a final settlement for bearer instruments exchanged on a censorship-resistant network, it still needs to defend against counterfeiting. The cost of production defends against counterfeiting since this is as cheap as you can produce bitcoin. If bitcoin becomes more desirable for other reasons of its utility, such as store of value, medium of exchange (network effect increasing), etc., then it may easily attract a monetary good premium on top of the cost of production, but the cost of production has invariably set the floor for the lower bound on bitcoin prices, as long as it has remained a monetary good.
Bitcoin is still monetising.
agreed,
the lower boundary of the rpcie is the production cost.
It could accidentally be below this value for a short time, but never for long.
The upper boundary is pretty much unlimited (limited only by the amount of value we can exchange for it). So the absolute upper value would be everything in the world divided by the amount of bitcoin in circulation. Of course we would never quite reach that value, but that would be the absolute upper limit it could never go above.
Ughh ingenious
following that logic lets
Step 1: Increase difficulty 10x fold, thus increasing cost of production for all miners 10x
Step 2:
Step 3: Bitcoin to da moon???
Just have to somehow get the note to investors for them to check the current productions costs before they decide the utility value of BTC and how much they should be willing to pay for BTC
A transaction has 2 sides, a buyer and a seller
Let's assume some people sell for less than the cost of production, eventually they will run out of coins to sell, and the only new coins on the market will be either coins that were bought before and resold (usually t a higher price, because no one would like to sell for less than they bought for, unless forced to do so). Or freshly mined coins, that well sell at least at the price of production, unless the miner is forced to sell for lower to cover his expenses, but if a miner continually sells at a loss, mining will be unprofitable for him, so eventually he'll be forced to quit.
Therefore, over time, the price will reach at least the price of production, because those who sell for less than that will run out of coins to sell.
I don't know how I can explain it any simpler.
170.
Post 15117648 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
A very late good morning Bitcoinland. Way too much booze way too late on an empty stomach last night.
I see the battle for $580 still rages on.
How much longer do we go sideways in the $565-$695 range before a breakout? It's been half a week now. Is this just the beginning of a longer sideways trend or do we start to move up again soon?
It's still not a deep enough dip for me to buy.
I don't think it will take long
China is getting ready for a breakout (looks like UP to me, but might as well be down. Either way, we'll know in max 2 days.
171.
Post 15117698 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Cost of production is doubling in less than a month ... that will set the new floor for bitcoin price to the $840-960 range (at the minimum without difficulty increases) in the medium term.
Cost of production for a monetary good is the economic defence against counterfeiting. While gold is money, and sometimes attracts a monetary premium substantially above it's cost of production, for someone to produce gold "from nothing" they need to expend an equivalent amount of resources to the cost of production. Over long terms the price of the monetary good may be attracted to its cost of production but ultimately that is as cheap as you can acquire it for, as long as it is still desirable as a monetary good. For the same reason the lowest value of fiat paper money is the cost of the paper it is printed on and the ink, i.e. it's cost of production (about a few cents for a $100 bill).
While bitcoin is still valued as a monetary good, that can be transported in minutes across the internet as a final settlement for bearer instruments exchanged on a censorship-resistant network, it still needs to defend against counterfeiting. The cost of production defends against counterfeiting since this is as cheap as you can produce bitcoin. If bitcoin becomes more desirable for other reasons of its utility, such as store of value, medium of exchange (network effect increasing), etc., then it may easily attract a monetary good premium on top of the cost of production, but the cost of production has invariably set the floor for the lower bound on bitcoin prices, as long as it has remained a monetary good.
Bitcoin is still monetising.
agreed,
the lower boundary of the rpcie is the production cost.
It could accidentally be below this value for a short time, but never for long.
The upper boundary is pretty much unlimited (limited only by the amount of value we can exchange for it). So the absolute upper value would be everything in the world divided by the amount of bitcoin in circulation. Of course we would never quite reach that value, but that would be the absolute upper limit it could never go above.
Ughh ingenious
following that logic lets
Step 1: Increase difficulty 10x fold, thus increasing cost of production for all miners 10x
Step 2:
Step 3: Bitcoin to da moon???
Just have to somehow get the note to investors for them to check the current productions costs before they decide the utility value of BTC and how much they should be willing to pay for BTC
A transaction has 2 sides, a buyer and a seller
Let's assume some people sell for less than the cost of production, eventually they will run out of coins to sell,
No, they won't run out of coins to sell. If the people who own the (what, 16 million?) coins mined up to date, *those coins don't disappear*. They could be sold again and again, at a lower or higher price. Because that's how money works.
and the only new coins on the market will be either coins that were bought before and resold (usually t a higher price, because no one would like to sell for less than they bought for, unless forced to do so).
Remember BBQ coin? Who forced the shrewd BBQers to sell their precious at a loss? How is it possible that BBQ-flavored
monopoly money asset with artificially limited supply is now worthless? According to you, it can only go one way -- to the moon!
Why would you buy a coin just to sell it at a lower price?
If enough people do that, sure the price will drop, but ti doesn't make any sense to do that, so seriously, why would that happen on a large scale?
It won't happen on a large scale, because it's unprofitable.
I don't know what happened to BBQ coin and i don't care, because bitcoin isn't the same as altcoins. Bitcoin has utility, altcoins are often just a get-rich-quick scam.
172.
Post 15118094 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Why would you buy a coin just to sell it at a lower price?
Why did BBQ coiners buy BBQ coins, just to sell them for less? WTF is wrong with them? Didn't they realize that BBQ supply is limited, and, at each block reward halvening, their precious is *MATHEMATICALLY GUARANTEED* to double in price? FFS, how stupid those BBQers were! If they just held, they'd be rich as shit!!11!
I don't know what happened to BBQ coin and i don't care, because bitcoin isn't the same
This sort of willful ignorance, this willingness to cling to religious faith in their precious, that it's the Only True One, a special, unique snowflake, completely unlike scores of schemes structurally *just like it*, is what keeps people stupid and poor
BBQ doesn't have value, so it's better to sell them at any price if they are going to collapse, instead of holding them and losing everything.
Limited supply only means something if someone actually wants those things.
Bitcoin has proven to be popular and useful, and the popularity only seems to grow.
Bitcoin isn't neccesarily diffeent from BBQ, but the thing that matters is the network effect.
MySpace wasn't any different from facebook, but myspace died, and facebook thrived. Why? because of network.
173.
Post 15118106 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Cost of production is doubling in less than a month ... that will set the new floor for bitcoin price to the $840-960 range (at the minimum without difficulty increases) in the medium term.
Cost of production for a monetary good is the economic defence against counterfeiting. While gold is money, and sometimes attracts a monetary premium substantially above it's cost of production, for someone to produce gold "from nothing" they need to expend an equivalent amount of resources to the cost of production. Over long terms the price of the monetary good may be attracted to its cost of production but ultimately that is as cheap as you can acquire it for, as long as it is still desirable as a monetary good. For the same reason the lowest value of fiat paper money is the cost of the paper it is printed on and the ink, i.e. it's cost of production (about a few cents for a $100 bill).
While bitcoin is still valued as a monetary good, that can be transported in minutes across the internet as a final settlement for bearer instruments exchanged on a censorship-resistant network, it still needs to defend against counterfeiting. The cost of production defends against counterfeiting since this is as cheap as you can produce bitcoin. If bitcoin becomes more desirable for other reasons of its utility, such as store of value, medium of exchange (network effect increasing), etc., then it may easily attract a monetary good premium on top of the cost of production, but the cost of production has invariably set the floor for the lower bound on bitcoin prices, as long as it has remained a monetary good.
Bitcoin is still monetising.
agreed,
the lower boundary of the rpcie is the production cost.
It could accidentally be below this value for a short time, but never for long.
The upper boundary is pretty much unlimited (limited only by the amount of value we can exchange for it). So the absolute upper value would be everything in the world divided by the amount of bitcoin in circulation. Of course we would never quite reach that value, but that would be the absolute upper limit it could never go above.
Ughh ingenious
following that logic lets
Step 1: Increase difficulty 10x fold, thus increasing cost of production for all miners 10x
Step 2:
Step 3: Bitcoin to da moon???
Just have to somehow get the note to investors for them to check the current productions costs before they decide the utility value of BTC and how much they should be willing to pay for BTC
A transaction has 2 sides, a buyer and a seller
Let's assume some people sell for less than the cost of production, eventually they will run out of coins to sell, and the only new coins on the market will be either coins that were bought before and resold (usually t a higher price, because
no one would like to sell for less than they bought for, unless forced to do so).
Or freshly mined coins, that well sell at least at the price of production, unless the miner is forced to sell for lower to cover his expenses, but if a miner continually sells at a loss, mining will be unprofitable for him, so eventually he'll be forced to quit.
Therefore, over time, the price will reach at least the price of production, because those who sell for less than that will run out of coins to sell.
I don't know how I can explain it any simpler.
No no and again no,
seller doesn't set the price buyer does. Market couldn't care less what seller likes or doesn't like. Here's the price someone is willing to buy the BTC you produced if that's not profitable for you, you go out of business, you go out of business there's less hash power dificulty adjust all other miners are that tiny bit more profitable. Rinse and repeat.
On a separate note, everyone ignoring that
BTC5k sell wall @ $576
Ok, I'd like to buy all your bitcoins for $1 each.
Also, if you happen to have any gold, i offer $0.01 per gram of gold.
I'd also like to buy both your house and your car for a combined price of $3
You see? Nobody would accept such offers because they're complete garbage offers, way below the price the seller wants for them, So the seller chooses not to sell.
The price has to be agreed between buyer and seller, if one of them does not agree, the trade is off.
If you don't even understand this, don't bother replying, because i'd be better of talking to a banana peel.
174.
Post 15118151 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
sorry for off topic post:
4k sell wall just pulled on finex
lol i see what you did there.
anyway, those walls are often just fake anyway.
175.
Post 15118500 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Why would you buy a coin just to sell it at a lower price?
Why did BBQ coiners buy BBQ coins, just to sell them for less? WTF is wrong with them? Didn't they realize that BBQ supply is limited, and, at each block reward halvening, their precious is *MATHEMATICALLY GUARANTEED* to double in price? FFS, how stupid those BBQers were! If they just held, they'd be rich as shit!!11!
I don't know what happened to BBQ coin and i don't care, because bitcoin isn't the same
This sort of willful ignorance, this willingness to cling to religious faith in their precious, that it's the Only True One, a special, unique snowflake, completely unlike scores of schemes structurally *just like it*, is what keeps people stupid and poor
BBQ doesn't have value, so it's better to sell them at any price if they are going to collapse, instead of holding them and losing everything.
BBQ had plenty of value, just like Bitcoin, until it didn't.
But sure, your beetcoin is a unique, special snowflake, and there's absolutely nothing 4u to learn from other coins.
facebook and myspace.
what's the difference
only the network effect.
same with bitcoin.
Sure, bitcoin isn't necessarily the best coin, but it is the most popular, so it's the best to invest in it, at least for now.
176.
Post 15119621 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
How many time zones does China have? .. I guess Beijing isn't the first place where its morning there from what I know and see on the map.. right? ... or they have one of those dumb systems where its the same hour all over the country?
i'm pretty sure they use 1 timezone in the whole country, even though the country itself is in multiple timezones.
must suck for those who live in the east, need to get up really early.
177.
Post 15119984 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
How many time zones does China have? .. I guess Beijing isn't the first place where its morning there from what I know and see on the map.. right? ... or they have one of those dumb systems where its the same hour all over the country?
i'm pretty sure they use 1 timezone in the whole country, even though the country itself is in multiple timezones.
must suck for those who live in the east, need to get up really early.
That's backed up by this site. China has five time zones but it only uses one standard time. However that quoted explanation doesn't make sense to me, how can China cover five time zones, but the Chinese Mainland, Hong Kong, Macau, and Taiwan Province all be in the same time zone?
https://www.travelchinaguide.com/essential/time_difference.htmGeographically, China covers five time zones (Zhongyuan, Longshu, Tibet, Kunlun and Changbai Time Zones). However, the standard times used in Chinese Mainland, Hong Kong, Macau, and Taiwan Province are the same, for they are all in the same time zone (UTC+8), 8 hours ahead of the Universal Time Coordinated.
Geographical timezones are the timezones drawn on a map.
Imagine the earth as a pie, and the pie is divided in 24 roughly equal slices. Every slice is 1 timezone These are the geographical timezone (the 'true' timezone, depending on your location on the world.) This timezone will affect how late you see the sun appear in the sky.
Then there's political timezones, which are usually roughly similar to the geographical timezones, but are decided by the government of the country. Most countries aren't large enough to have multiple timezones, so usually they just use the timezone that they physically occupy. But large countries have to make a choice, do I use different timezones (which makes business and communication more dfficult) or do I use 1 timezone for the entire country? Which makes things easier, but the downside is that the sun can come up very early or very late, depending on where you live. (
For example if you live in the east of china and have to get up at 8 AM, it might actually be 4 AM instead if you would use the true timezone based on your location after loking at the map this is not true, instead it's the other way around, if you live in west-china, than 6 am is like 9 am, so you never have to get up early).
In Europe, most European countries also use the timezone UTC+1 (+2 in summer) even though some of the countries are actually located in UTC timezone if you look at the map. This is purely a political decision.
So basically, even though some countries are located in 1 slice of the pie, they act as if they are located in another slice.
Some countries are so big that they don't fit in 1 slice, so they have to choose if they use multiple slices, or if they just don't cut the slice and call it a bigger slice.
maybe this map makes it a bit clearer.
Look at greenland, it's between -2 and -4 (the lines drawn from the map) but the whole country is -3 (which is somewhere in between).
If you are in the east of greenland, you are actually living in -4 but you count it as if it's -3. So the sun will get up an hour too early compared to the rest of the world, but your clock will say the same no matter where you are in greenland.
you can also see that a lot of countries "cheat" and use a timezone that is not the timezone they should have,m but they do that for political reasons.
178.
Post 15128343 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
..and longs a LOT lower. But it'll probably only go higher as speculation peaks before the halvening, hope a lot of those longs are in etherpoop too
True, but I doubt most are in etherpoop. The thing is, most of the time big long positions are a recipe for disaster, which is why I was reluctant to jump into the breakout at first, but if speculators can correctly predict an influx of new money, then we are A-OK, and I think this has been happening. People who were interested in bitcoin before, and have been following it a bit are deciding they don't want to miss the train, and jumping on. The real bubble starts when we reach the people who haven't seriously considered investing yet.
The bull in me agrees, think(hope?) market is underestimating the effects and coverage of the halvening, expecting some wild swings during this month
Kinda scared me when longs went full retard and ate up all the swaps causing the daily rate on finex to jump to above 0.5%. If it'd held that would squeeze a lot of them
the halving is already priced in
/s
seriously though i think we will see a serious rise 3 to 6 months after the halving.
179.
Post 15128368 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
Cool map bro!!! .. thx... already saved on my computer! This is GOLD!!! ... Iceland and Argentina are bonkers! Especially Argentina -3 in -5 .. wtf??
And the East coast of China basically has the same daylight timing like Japan & South Korea but different hours, and I see also Russia there on the East coast that have +10.
But considering that... Russia probably has its own exchange in their own language. And the other big players on the block that can influence the market that are on that side of the world before them are New Zealand and Australia that have similar times!
Australia is kinda of funny with their 8 3/4 timezone though.
180.
Post 15141587 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
I feel like in the next few days we'll either have to continue going up or start to fall hard.
Let's hope for all us of that it continues going back up.
china seems unwilling to break 4000 CNY atm and looks to be set to retest 3733 for support.
so it seems like we won't go to the moon just yet, maybe after a support retest this might happen but so far no luck.
maybe it's time for europe to take the lead for once.
181.
Post 15169145 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
I bookmarked bitcoinity the last time the price was at $686/Btc
How long until we see it again?
I bookmarked at 631,74
761.79
182.
Post 15177363 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.52h):
it seems china rly got scared of 4444
well, it is a really scary number
4 4s is about as scary as any number can get.
it would look something like this to them
183.
Post 15323619 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.54h):
mainwhile no one sees the long term trend is up.
people are so shortsighted and so black-and-white.
184.
Post 15505031 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.55h):
Halving being priced out.
I wonder what effect "actual halving" will have (as opposed to speculative halving).
if the first halving is any indication, we should see a large price rise in a few months.
which makes sense, because miners need to cover the same expenses with less bitcoin. Ergo, to keep the profit, they need to sell their bitcoin for more value.
185.
Post 16218976 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.57h):
most probable explanation: a coordinated chinese attack to trigger stop-loss-margin-calls.
I agree with you about goal to trigger some stop-loss margin calls, but such dumping does not need to be characterized as either an "attack" nor "chinese."
agreed, but it seems like some planned/coordinated attack to shake out some weak hands or to destroy some margins.
the only question is, to what purpose?
preparing for a takeoff?
186.
Post 16313264 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.57h):
i guess this btc thing will stay at 6xx for decades before some new development (and/or) mass adoption happen...
Are you prone to exaggerations, or what?
What makes you think that bitcoin is going to stay in the $600s "for decades"? Sure it is possible, but you seem to be lacking any kind of insight based on reality or assessment.. or maybe you need a bit of patience?
Sure, BTC prices have been in the $600s for 2-4 months, depending on how you look at the matter, but does this translate into decades.. .hardly. ... maybe you could argue or complain that we could be here for many more months, or even a year or two, ... but "decades?" get real.
If we keep the 1MB blocksize limit we might also stay on $600 for decades.
But if we do increase the blocksize and the amount of transactions the blockchain can handle per second we should see more adoption and therefore higher prices as well.
187.
Post 16330838 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.57h):
Core continues to strangle BTC's transaction capacity for some (idiotic) reason. Money still flowing into alts.
A large price drop is practically guaranteed.
You have been on this blocksize limit kick for quite a while, and seeming to continue to ignore actual facts regarding ongoing and continuing developments, including the pending implementation of seg wit (including the timeline involved for its vetting and testing prior to implementation).
SegWit was promised to arrive in april 2016, it's now September.
By the time it actually arrives (if ever) it will be too little too late.
Meanwhile we're losing market share as bitcoin, while 1 change to a simple line of code could have fixed this easily.
And yet, you put your trust in this incompetent core dev team.
Core continues to strangle BTC's transaction capacity for some (idiotic) reason. Money still flowing into alts.
A large price drop is practically guaranteed.
You have been on this blocksize limit kick for quite a while, and seeming to continue to ignore actual facts regarding ongoing and continuing developments, including the pending implementation of seg wit (including the timeline involved for its vetting and testing prior to implementation).
Is it April yet?
April
2016 2017 2116 20116
188.
Post 16330900 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.57h):
Core continues to strangle BTC's transaction capacity for some (idiotic) reason. Money still flowing into alts.
A large price drop is practically guaranteed.
You have been on this blocksize limit kick for quite a while, and seeming to continue to ignore actual facts regarding ongoing and continuing developments, including the pending implementation of seg wit (including the timeline involved for its vetting and testing prior to implementation).
Is it April yet?
As you likely realize - a meaningless talking point to suggest that there was some kind of guaranteed solution.. ridiculous.
There is no urgency, so there is no need to suggest that April was some kind of necessary. There are a lot of ongoing developments with seg wit and related, and you are missing these matters when you continue to suggest that there is some kind of defect or suggesting that bitcoin is "behind schedule" in some kind of way.
There is urgency.
Bitcoin is losing market share to altcoins (both in market cap as well as transaction volume and trading volume).
Blocks are more often full than not, indicating there is demand for bigger blocks.
To say the matter is not urgent is a lie.
There's a reason the debate started in 2013 and the debate became more fierce in 2015.
It was because people actually recognized the problem before it became a problem, but for some reason (he who shall not be named) now that it has actually become a problem because no action was taken it's barely even discussed anymore.
Larger block size means lower security and therefore lower price. So no, if you want the price to go down you should increase block size.
Larger blocksize don't mean lower security, those two have nothing to do with each other.
so crossing under 600 / could this next fall trigger the next rise,. ? / the pump must come,.
the pump wont come as long as the blocksize debate isn't resolved.
Events make more of an impact on the price than all the block size stuff. Last November when China "unbanned" Bitcoin again the price shot up, and nobody gave a crap about the block size.
Of course no one gave a crap about the blocksize back than, because the average block size was not anywhere near the blocksize limit back then.
Now it is though, and it's not supposed to be.
189.
Post 16340588 (copy this link) (by zimmah) (scraped on 2020-04-04_Sat_14.57h):
SegWit was promised to arrive in april 2016, it's now September.
And I have lost one tooth
And I walk a little lame
And I ain't got time
For the waiting game
And the days dwindle down to a precious few
September ... November!
And these few precious days I'll spend with you. These precious days I'll spend with you
Good piece of poetry you got there. Do you have any other poems? and hey! don't worry everything will be fine as time goes, there is nothing that time can't heal.
It's not that I'm impatient, but I don't want potential or current users leaving bitcoin because of these problems.
The blocksize issue is a real problem, and you can't just wait for SegWit/LN to get their shit together while the blocksize is becoming problematic.
The blocksize was never supposed to stay at 1MB for as long as it did. The false promise of SegWit made people think we didn't need to upgrade the blocksize from 1MB, so now here we are, with 80% of the blocks being full, no blocksize increase in sight, no SegWit and no LN, and mainwhile bitcoin is rapidly losing marketshare.
It won't take long for bitcoin to no longer be the #1 crypto in marketshare. Do you want bitcoin to become the myspace of crypto? Because this is how you get bitcoin to become the myspace of crypto.
In the end, we go to the better coin,
If by better you mean abandoned, than yes. But it won't have value then.
