https://blockchain.info/pools?timespan=24hrs

back at 38% AGAIN

are u fucking kidding?? what is this?

so how much THsh do ghash have in their pool?

Yeah, there is a lot of money just waiting the 'right' moment to buy or get in. But mathematically there are not enought coins for all of us waiting the price to touch the 200 daily MA (aka bubble finally deflated) with a little fiat to spare, so what to do?

I pretty much preffer the price collapsing and bubbles deflating in a month that those long and painfull declines.

Charts and candles looks bullish on day/3 day/week timeframes but it is getting sooo slowly. And i'm pretty sure once we reach $1100 again bears will come out of the forest to make profits and bring us again to $850, again, soooo boring.

If I was a fund and wanted to buy coins, I would not choose an exchange where they are 15% more expensive...

Source?

UK can now buy Bitcoins with cash.

http://www.coindesk.com/can-now-pay-cash-bitcoin-28000-uk-stores/

it's bullish in that bitcoin isn't broken, and bearish in that it suggests that gox are hiding something.  

The proportions of the impact still feel very suspicious, Gox basically took some old and well known (to devs) things, and "turned" them into "news" about btc protocol. I dont want to believe that the whole crypto market is that retarded to panic so hard.

There should be something more to it.

Why is gox even trading??? The exchange you can only deposit to, I mean it's laughable but unfortunately a fact.

Still waiting for the 2 hr cross on Gox.

ghash approaching 37% https://blockchain.info/pools?timespan=24hrs

why does this keep happening??

No, not wishing for another Cyprus.  A lot of Europeans think Cyprus was a one-off, which IMO is incredibly naive.  Maybe this report will prompt people to consider how safe their money really is.  If even a small % of savings are moved to Bitcoin, it's choo choo, whether another Cyprus happens or not.  Personally I think another Cyprus - or a Europe-wide measure as described in the report - is inevitable.

Yes and the cheap coins on Gox will get dumped on stamp!

I'll take that as a admission of guilt, no you ?

I dont think they would dump them now!

Me too. I hope I never stop asking stupid questions!

What does it matter? They serve US customers without following the regulations, and the US has global power.

why do central banks around the world feel compelled to down play bitcoin?

i dont get it! why!

 

they understood that, this is on purpose to harm bitcoin and they'll harm and kill bitcoin, Ripple will take its place within few months. This is life.

a 10% bounce after a 70% drop is not a change in trend. Keep in mind that if a market falls 50% and then bounces back up 50%, you're still 25% lower than where you started.

C'mon, you pussies, I lowered my buy order to $559 and still no takers. Where's all the "the worst is behind us" sentiment now?

So... The bottom is finally in?

translate it in a short sentence?

Most of the articles are things we already know about.

April 10 - "Bitcoin is not banned in China" - We already knew that.

April 16 - "Huobi's bank account being closed" - We knew that too.

Yet somehow people's sentiments change every time because they were operating under some flawed logic.

So everyone moans and says we've gone up to fast and then moans when it corrects?

1 bank after the other getting closed and you call that FUD?  

If someone with 5000+ coins wanted to make some quick money, they could dump their bitcoins anytime (not all at one time of course) over the next 24 hours and break us out of the triangle to the downside and people would join the bear party. Similarly someone could do it to the upside too, but, in this case I think there are more people with the bitcoins who could do this than with the cash to do the opposite.

According to reports, PBOC requires commercial banks and third-party payment agencies to convey to the public that it no longer provides financial services to any Bitcoin transaction before May 10th "Bitcoin Beijing International Summit".

The deadline is real guys

Well, there's certainly plenty of fiat on Huobi now.

So Bitfinex?

The bulls are still buying and they are bringing new players in the market that buy as well

There are 3800 new BTC / day though

Anybody notice that its now Monday in China and the exchange volume is drying up?

I think this is what the future looks like folks.

Its not suprising in my eyes that there is a massive lack of volume. We've been in a downtrend for so long now people generally have taken their position and are just waiting for the direction. These are the sorts of times when we can have those $100 days.

Sell the news !
While all news and publicity is good, this particular piece isnt too bullish as its just more money invested in a service thats in the business of converting BTC to Fiat.

what if you're trying to sell several thousand coins and have been doing so in ~500 coins chunks over the past several days?

Most of my smart chums that were still waiting on the sidelines bought in at approx. $420 in the belief that it wouldn't go much lower, if at all. 

Do not invest more than you can afford to lose.  If you should decide to invest anything at all, buy it and hold it.  At some point you'll (probably and hopefully) have enough value to sell some, recoup your original fiat investment and retain a little coin as a long term investment.  Do not watch the charts every day and do keep your emotions in check.  If you're not a regular trader, charts can be very dangerous and very false friends.  Buy, hold, sell a bit when you can and keep some for the future. 

That's my advice.

Also, don't listen to anyone's advice on the Internet.

Rua Santa Ifigênia is the traditional "electronics street" of São Paulo, some 5-10 blocks with tiny to medium-sized shops selling from transistors to consumer electronics, with sidewalks lined with street merchant stalls selling all sorts of accessories, cartridges, software, etc.. A large part of it is contraband, pirated, or counterfeit (you can surely find a "legitimate" copy of Photoshop or Autocad there for a few bucks). Once in a while the police raids the place, confiscates a couple of tons of merchandise, gves out fines and maybe some arrests, just to justify their salaries; but that is all "priced in" as you might say.

Some 10-15 years ago a Ph.D. student of mine bought for her project a Sony camera that had a CD burner built-in and recorded images directly on small 3" CD-Rs.  (There was a short time window when that camera made sense, because flash memory cards had about the same capacity as those CD-Rs but were much more expensive.) She was running out of the original supply of CD-Rs, and could not find then in Campinas; so one day we happened to be in São Paulo we thought of checking at Sta. Ifigiênia.

When you buy anything in Brazil the store is supposed to give you a "fiscal note", an official serially numbered receipt, of which they keep a copy.  Those receipts are used by tax auditors to check whether the state sales tax is being paid.  Obviously street merchants and  stores selling contraband don't give no friggin' fiscal notes, especially for a small purchase like a box of blank CDs; but since we were paying with federal grant money we needed the fiscal notes, and moreover we had to pay with a check from the government account.  We had to walk the whole street, asking at half a dozen computer supply shops, until we found a store who had those 3" CD-Rs, accepted the check, and gave us a fiscal note.

While we were walking back, people started shouting "tax inspectors, tax inspectors" all over the place.  In ten minutes (no exaggeration) half the small shops in the entire street closed their doors, and all the sidewalk stalls had been hastily folded and thrown into vans that disappeared from view.   For, you see, they had spotted two odd-looking people entering random shops and asking to buy some trinket with a fiscal note -- what else could they be?

So: don't underestimate.

I have no reason to believe that Bitstamp is insolvent, but, if it were, it could and would easily fake that test.  That the test is accepted without criticisms only confirms how gullible bitcoiners are.

Bitcoin is not itself a scam, but I have never in my life seen an economic sector so chock full of scammers.  Every crook in the world who learns a little about bitcoin would want to "adopt" it.  It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...

Looks like someone wants to pump before the weekend

So close!!

Bitcoin traders are not known as the smartest people around.
Basically most of them have no idea what they are doing. For most it goes like this: omg everyone is selling, i need to sell now! Omg everyone is buying, i need to buy now!

i don´t think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ?

is it a bubble or a trend ?

Looks like he's in the UK (hello...)
As far as I can tell, you're taxed on income at the exchange rate at the time of earning.
Then if your bitcoins appreciate and you cash out, you are liable for capital gains on them, minus the £10k allowance of course.
There may will of course be ways around this for the tax savvy. I just haven't needed to find out yet.

OK wise bitcoiners who think you "understand the math", do you know why the mining problem is hard?  Or that it is hard to sign a transaction without knowing the private key?

This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.

I don't know much about tax, how would this affect me if I traded on plus500 as well?

This is their business model: inventing all kind of fees . They already have entry fee, exit fee, 2% per year safekeeping fee - and now 5% bidding fee

if people like shroomskit stopped bashing on every analyze or a prediction or a question and simply not take everything personally this thread would be cleaner, but well this is what happens when the price is not moving.

as I said before, Bitcoin needs bubbles for its survival, if that doesn't happen soon, the community will simply kill it.

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

"Imaginary friends" is those things that you make through the internet, with Facebook and such? 

So... Wait 'till the price goes up to buy? Do you also wait for the price to drop to sell?? Brilliant trading strategies..

I undertsand that WB did not make his fortune just by buying high and selling low (!): he bought a failing company and managed it for many years until it got profitable again.

Why is there so much confusion about TERA's gender?

the existence of different genders seems self-evident, but their number and clustering topology is a research topic.

I thought the situation was that bidders would be notified and then anyone is free to make an FOI request and there aren't many exemptions that I can see that would stop at least the sale price being revealed.

No, they are not going to be "on sale" on developing economies. That doesn't make sense, everyone in those countries can buy right now in actual exchanges, localbitcoins, etc. What they can do is:

- Lend bitcoins on those countries with a small interest (bearish, they have to monetize (fiatize?) those bitcoins to build/buy almost anything non digital).
- Act as Angel investors in those countries (bearish for the same reason, bitcoin economy is not that big to keep the coins unchanged).

Both options are viable all around the world, you don't need to deal with banks and corrupt goverments to send bitcoins wherever you want, but once the coins are there you will have to use them: Pay bills, pay salaries... And it's easy to see that most of those bitcoins are going to be transformed into fiat before use.

There is no reason for a dump at all -- the news has been wonderful. And yet I have this sick feeling that we are going to have some dramatic movement like a flash crash or some other bull----

Some news that might be having an influence, sky news has an article claiming bitcoin could be used to fund terrorism. Its from an article in an Islamic jihadist blog somehow connected with ISIS that mentions bitcoin can be used for funding. ISIS are using US made weapons and there are several reports claiming they're also US trained. Btw, the same blog entry also claims bitcoin complies with sharia law.

Huobi just triple bottomed at 3822.. wow. Dickheads, sell all your coins. Its over!!!! PANIC!!! HACKERS, CHINA, TERRORISM, BAN!!!

I have yet to see a license form bitfinex are the next?

Where else?

hm... if the winklevoss brothers wanted to sell their stash, they could always do so. why would they go through the most complicated way of an etf that needs approvement, paperwork, etc. if they wanted to sell, they would have done it already otc or via exchanges.

their intention is to keep their stash and when thier etf gets approved and institutional investors want lots of btc etf then this would create a huge demand = c c m f


edit: typo

Now what will Russia say? I wonder...
Nevertheless, it's a great thing, and 5000 places to buy isn't a small deal.

And the average Chinese salary was $2,100 in 2012. Average salary is such a vague measure to use to come to a conclusion that a new market won't have a net positive effect.

Interesting. I'm in the market for a new car and have the cash to do so. Will have to take a look.

Though  have never heard of this company at all in any manner.

The point is that most of those "purchases with bitcoin" mean that the customer's coins are sold in the market by Bitpay and the dollars are given to the merchant.  Where do the coins come from?  More likely from people who already had a stash of bitcoins, than from people who didn't have bitcoins and bought them from the market for that purchase.

Therefore, those businesses are likely to increase supply in the market (by moving coins out of hoards to the market), rather than demand.  Basically, they induce holders to sell, and make it convenient to do so.  Are they also inducing non-bitcoiners to buy bitcoin? It is not obvious: if you had dollars and no bitcoins, why would you choose to pay with bitcoin?

And I did not expect to have that observation (which is not mine, many bitcoiners have been saying so) replaced by a completely different statement in order to dismiss it.
 
I will give you an example. Suppose @JorgeStolfi is in the US and decides to buy a fancy 3000$ laptop. He can send 3000$ to the merchant; or he can send 3000$ to Bitstamp to buy 5 BTC, then send the BTC to BitPay and have them send the 3000$ to the merchant.  Which one will he choose?

Now suppose it is @Aminorex who decides to buy that laptop.  He can send 3000$ to the merchant, or he can get 5 BTC from his holding, that he mined for pennies in 2010, and send them to Bitpay, who would send 3000$ to the merchant.  Which one would he choose?

(And Bitpay then would sell @Aminorex's 5 BTC on the market, where they would be bought by @SroomsKit with his 3000$ which cost him many baked potato dinners. So, simplifying the equations, @ShroomsKit would pay for @Aminorex's  laptop; but maybe one day he will get his money back, and more, from some other optimistic investor...)

In what ways is COIN different from SMBIT and PBP?
 

Thanks! I thought that the main advantage of SMBIT over bitcoin itself was that it could be used for retirement accounts, some of them at least (Roth?)

You can certainly hold BTC in an IRA, Roth or traditional, or a 401k, Roth or traditional, etc.

COIN is an open-ended fund.  Any retail investor can buy it.  Any mutual fund the rules of which allow it can buy it.  In the extremal case, all of the funds currently being used to purchase other ETPs (stocks &c) can flow into COIN.  That's a lot.

The only practical limit to the amount of fiat COIN can burn is the propensity of the regulators to pull the plug.  SMBIT, PBP in contrast live in a very rarified atmosphere, in comparison.

In an extreme (not yet extremal) scenario, COIN burns too much fiat, so it is halted.  Meanwhile, now mania is only piqued by events, and all the fiat, in a frenzied heat, leaves the capital markets to seek BTC over the counter.  Singularity is discovered - an alternate extremum.

Bids on Stamp look healthy. 1000 BTC to 620$ ; 3000 BTC to 610$. Ready to lift off. We also have a very similar fractal compared with the 430$ breakout.


TO THE MOON

I think we are losing adoption NOW.  User numbers don't seem to be rising at all, and the main complaint is losing money on their investment.  I literally know no one else who owns coins anymore.  This manufactured drop from $600 is killing the tech. (Tes, exchange rates matter, trolls.)

Note that game theory says the price will trend to zero.  As long as there are hundreds of people with enough coins to play the dump game, one of them will continue doing it to make their extra 20 or 30 coins per day.  If you gave me 3k btc today, I could guarantee I would have 6k in 90 days.  The game is too easy.  

Those posters who say that the only people who care about the price (exchange rate) are get rich quick dreamers are deluded.  If I could buy a laptop with 2 bitcoins 3 months ago, but now need to use 3 btc, there is a serious problem.  And as long as 99.9% of goods require USD to purchase, the exchange rate is important.

I left out one point before: look at how much concentrated effort it took to break through support at 500.  Thousands and thousands and thousands of coins dumped to break support and make the dump game possible again.  How many of the big guys had to help to break through?  I sincerely thought it was impossible to reach 490...forgetting that there are single individuals with 50k coins who could wipe out the entire order book.

Now, explain to me how it is possible to have another bubble.  It will be a race to see who can dump fastest and hardest to make the biggest percentage gain on a thin order book.  IIRC, to cut the price 40% in November only took a 1k dump; stops triggered, margins called, panic selling, huge profit with no risk.  They won't be able to control themselves when the opportunity arises next time .

I will say this with all honesty: I no longer believe btc has any chance of being a serious currency due to its users.  I have always been a short term agnostic and long term bull.  I am full bear now.  I doubt that we will ever see 700 again, and 300's will be here soon.  The big guys are warning everyone everyday that they want lower prices.  Believe them.

*shhhh* Stop posting all this bullish facts! How much further do you want to drag out this capitulation phase? 

applepay looks like same old credit card turd wrapped up in shiny new apple packaging wrapper ... right?

and we all know that credit card is old expensive tech., someone will have to pay for that somewhere along the line, odds on it will be the users, one way or the other.

And there will the inevitable hacks, frauds and inside jobs of the applepay centralised DB itself, while the currency units they use are devaluing too ... where's the upside?

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

The money revolution will not be televised.  Fight the power!



Bonus points:  Name the revolutionary money service in the pic

It's happening right now.

This whole year Bitcoiners were telling me daily that the dollar is about to collapse. Instead the dollar is getting stronger by the day.

How the fuck does this guy expect to separate the blockchain from the currency? Where's the incentive?

3600 is nothing, it is just 12% percent of a wall that just got munched.  Thanks for being a cud bear tho

So much ignoring and Fonzie has been making more sense then the despair bears left

The ask side looks bad.
I very much doubt we will go up much more.
This bear market is far from over. And i have no idea what could fuel a bull market any time soon.

if bitcoin has been held/pushed down artificially the rebound could prove to be quite 'violent'

WHY is no ONE talking?!?!

Well I'm fucking buying. Gogogo!  

NO one is buying?  From where are you getting your data?

Just looking at stamp, we got more than 2,500 btc in the past 30 minutes and nearly 7,000 btc in the past 2.5 hours... I would call that a fairly high volume of buying, how would that be wrong?

Bitcoin *is* the signal.

Looks like all the past countless 24 hours weren't crucial for bitcoin :/

I see this argument a lot, and my question is this: what, exactly, would give consumers more of a reason to use bitcoin for legal transactions over existing payment methods? What will these new projects do differently that will make it more attractive for the consumer?

My opinion is that bitcoin's huge flaw in regards to regular consumer usage is that two of its major benefits both work in favor of the merchant.

Can't reverse transactions: benefits the merchant, makes it harder for them to get ripped off, but easier for the consumer to be ripped off, or to force them to accept what could be an inferior product with no guarantee of a refund.

Seriously 

Simply not true, I lost money this week to a shitty merchant of a software license. I have no recourse. they have whois protection on their domain. I'm not gonna sue over $40.

I did my research, domain was 18 months old, no scam reports.

Welcome to bitcoin. It sucks for consumers

Please ignore the troll argument and focus on the legitimate one: if you use your credit card, you can name, shame, and still have your money at the end of it.

Don't people do any arbitrage these days?

By TAKASHI MOCHIZUKI
March 16, 2015 9:32 p.m. ET
0 COMMENTS

http://www.wsj.com/articles/rakuten-starts-accepting-bitcoin-1426555942

Rakuten Starts Accepting Bitcoin

TOKYO—Japanese e-commerce giant Rakuten Inc. has started accepting bitcoin for purchases in the U.S., adding momentum to the rapid growth of cryptocurrencies as a form of payment.

Customers using the company’s virtual shopping mall in the U.S. site can already buy items using the Internet-based currency, a Rakuten spokesperson in Japan said Tuesday.

Rakuten executives have previously said the company’s Germany and Austria units will allow payment by bitcoin starting in the second quarter of this year.

Many major U.S. companies have already embraced bitcoin, but Rakuten is one of the first major Japanese companies to accept the virtual currency for payment.

While many Japanese companies agree that bitcoin is a convenient payment method for both customers and merchants because it significantly reduces handling fees, most of them are reluctant to adopt it due to concerns over possible fraud and authorities’ unclear stance on the regulation of bitcoin.

In Japan, Mt. Gox, once the world’s largest bitcoin exchange, collapsed last year and lost customers’ assets worth half a billion dollars, dealing a major blow to the currency’s public image.

Prime Minister Shinzo Abe’s Liberal Democratic Party, meanwhile, has decided that the government won’t regulate bitcoin and won’t assign any regulatory bodies to oversee the virtual currency ecosystem. While venture companies welcomed the news, executives at larger companies said the move made it difficult for them to start accepting bitcoin because they want a government agency as a watchdog. Otherwise they would face trouble should unfavorable incidents occur.

Rakuten has been open and passionate about bitcoin’s potential use, hosting several panel talks dedicated to the subject at a recent financial conference hosted by the company. It has also invested in Bitnet Technologies, a bitcoin startup based in San Francisco.

Rakuten’s biggest moneyspinner is its Japanese site, but that isn’t open to bitcoin yet. Rakuten’s chief executive Hiroshi Mikitani said last month he plans to roll out the bitcoin function to the Japanese market as well, although when it would do so is “a trade secret.”

I sent a card to the CEO of my company thanking for all of his hard work which keeps me employed.

It's all about thanking the workers today.

Ok, I've just spoken to the Norwegian tax authorities about how to classify my Bitcoin mining business and they've basically sent it back to me and asked how they do it in other countries(?!?!?!). Do any of you know what industry code / tax bracket a bitcoin mining business registers under in your country?

Ok so we all get what he's doing to make money. However I think this is a very bullish development. He stepped down and is creating his own firm to handle regulation on digital currencies like bitcoin, meaning he knows bitcoin is here to stay and there is money to be made in the sector.  Lawsky talked to higher-ups and big dirty bankers and likely knows what is coming down the pipe for bitcoin from a regulation and banking perspective.  If he stepped down and decided to start a law firm that handled other financial regulations that did not include virtual currency, then that would have been a huge red flag of bad things to come for bitcoin.

So the future of crypto is as an inter bank payment network only accessible by a few hundred or thousand players?

I think he'd be out of a job pretty rapidly then. Once it's ticking away nicely that's that.

He's an attorney not a dev.

I think i just found a bull's cryptonite.

That graph. Whenever i post that 2012-2015 graph, i just make 'em puke. They are going berserk on me shortly after. The truth...

They can't handle the truth.

Someone is caught short...

what is this childish crap with flashing walls on bistamp anyway. some rich kid had to many squishees?

I know it's a possibility, but he claimed it's confirmed.

Can you post a brief outline of what the main points were for those unable to view youtube at work?

Is a deal still on the cards and is the next big meeting tonight still on the agenda?

this

BTC-E is not a market maker, okgox/goxobi and finex are, finex clearly showed that market makers dont plan to push price above 290$ (there would be fake walls of 15-18k being moved higher to 270-280$ in order to do that). Its just chinese retards cashing out their ponzied ltc to btc at any cost. Chill out people, shit is almost over.

here is something to make you shudder.

In New Zealand we have a current huge house price spike in part due to foreign investors "speculating' the price will go up even more.

As these people are hard to get at by the tax people (we have just introduced a capital gains tax they may 'avoid") the government is introducing a system where intermediaries have to get the tax.

see the article below.

Imagine if governments introduced that for bitcoin ie saying they do not know if the bitcoins being sent from person a to person b have been taxed properly or at all when with person a so they will ask for a 20% tax as it passes through an exchange (eg the soon to be approved twins one) or if person b is a recognisable entity eg a big retailer like amazon they will ask for the 20% from them. (Retailers already collect gst ( VAT) here so administratively it could be done overnight).

that might knock the current price of $200-$300 around a bit eh?  

they may be slow but tax collectors usually always get their way in the end

http://www.stuff.co.nz/business/opinion-analysis/71846181/new-withholding-tax-on-residential-land

There is no purpose for bitcoin to be digital gold if another blockchain is widely used. That blockchain will turn out to be the true digital gold.

Oh shit, BLOCKCHAIN IS DOWN!



Shortly my ass! How am I supposed to transact with my Bit-coins?

The MMM ponzi has pages in other languages and (thanks to bitcoin) can make victims everywhere, not just in one country.  OKCoin's CEO just confirmed that they are seeing buying pessure connected to MMM and several copycat ponzis in China.

Oh shit! Bears are putting the hammer down on the market right now... Fucking Tarmi style! lol

Where are you seeing that? At Bitfinex (Hong Kong)? At the Chinese echanges?

Apparently Mavrodi's ponzi (and Chinese copycats) are most popular in China.  (Recall the MyCoin ponzi in HK, earlier this year? There seems to be a rich "market" for such things there.)  Chinese victims are of course going to buy their bitcoins on Chinese exchanges, during Chinese day/evening time.


Of course this is not the first MMM mega-ponzi, but this time seems to be different because he is using bitcoin to make victims all over the world, without himself being established in any country.  This ponzi promises to be bigger, longer lived, and much more difficult to stop than the previous fiat-based ones.

Correct me if I am wrong, but I am assuming that the payouts too are in bitcoin (or in Mavros); and the victims are likely to keep or re-invest their payouts in the ponzi.  So I don't expect to see a "cash-out" any time soon.  There may be a big bitcoin sale after the ponzi collapses, if and when Mavrodi and his asssociates decide to cash out.
snip

There will be no significant correction in near future. We're heading beyond 1k in just couple of months!

at the beginning of this year , the price was 316$
are we goinig to pass this high soon ?

Correct. People need to get informed about the "magic making machine" in the US. They can (and they have) print money out of thin air. I'd say that the EU tax ruling is also a contributing factor. It is now tax free after all.

china seems to wait for bitstamp

interesting to see how one tiny 1400 wall can easily stop them. i still think that china is 80% fake.

does anyone look at gemini, they are flashing 500.000 per bitcoin ask all the time...   

turn on the daily chart and you see green dildos

Here comes the correction?

I apologize for being anal retentive, but I keep hearing people use the term "spread" to refer to the price "premium" between exchanges. I thought that traders used the term "spread" to refer to the buy and sell price difference within the same exchange and the price difference between exchanges as the "premium"... thus the price premium of Chinese exchanges is 25 dollars higher than US exchanges.

...or is there something I am missing?

Circle jerk temp check?

Every night this week I went to bed expecting to see a dump when I awoke the next morning, but the price had shot up. It is an insane parabolic rise and I'm beginning to wonder how high it can go. At this rate it will surpass 2013. Strangely people appear to be dumping alts to buy Bitcoin when its usually vice versa. Very few of them have risen in percent USD as much as Bitcoin, they are dropping in value against it.

Price has doubled in a month.

This has happened in each of the previous jumps.

Previously this translated into a doubling again 2 weeks later, then another doubling 1 week later...then...

2014 Jun 01 (on the way down):

Agreed... but stock owners are speculating on future dividend gains that may or may not be realized when they purchase stock. Just like with bitcoin. But unlike bitcoin, stocks have little use or utility while you own them. A lot of stock doesn't even allow you any voting power.

Six times the Army of Northern Virginia BTC assaulted the heights of Little Round Top 500.   Six times the 20th Maine 500 repelled them.

Nice metaphor.

Scarcity on something that is useless in every sense, probably not. But bitcoin is not in that category.

Gold's annual production is around 2500 tons. There are a few metals which have a production that is counted in just a few tons per year, typically in the PGE (Platinum Group of Elements). These metals fluctuate wildly in their prices as their scarcity alone allows their marketcap and price to be squeezed high through a single buy, or dumped quite lower with a few not-so-dramatic moves in terms of $$$. But noone says "ohh Iridium is a pump and dump because it was $400 in 2010, $1100 in 2012 and fell to $400 in 2013". You know it's a small market and that fluctuations are to be expected.

Bitcoin is similar in a sense. Yet, beside being scarce, it also has something to offer. It can do online payments, it can preserve wealth in the long run - especially for multiple countries that run double digit inflation, it can be a diversification asset, it can bypass capital controls, it can offer banking services even to kids who are gaming and want to sell or buy a fictional item or a game account in an MMORPG - which would otherwise be impossible without using their parents bank/CC/paypal etc, it can even be considered a collectible as the first decentralized digital currency (which is a historic event analogous to the first coins or first paper notes). People are paying hundreds or thousands of dollars for a good condition uncirculated coin of 100 years ago, just because this type of coin is harder harder to find than a coin in average circulated or worn condition. In any case, as far as BTC is concerned, the scarcity factor means that not many people can hold 1 BTC - but we all know that. Which, by necessity, will make the prices go much higher.

Many people that are trading bitcoin do so from the U.S. or Europe and they have a fundametal problem in appreciating it. We do not really understand or appreciate the benefits of what bitcoin can do for countries that do not have numismatic stability or easy international transactions through banks/paypal/credit cards etc due to quotas, controls, government approvals to buy even 10 dollars worth of stuff, etc.

For an American or a European, bitcoin is a very misunderstood asset because most of its benefits are not readily visible. The same is true for gold btw - most people will prefer money in the bank rather than gold. Having numismatic stability for a few decades makes you forget that your currency is just faith-backed money that can fall over the cliff overnight just because there was an international shock, a war, some political mess, etc etc. But countries that are immersed in that kind of shit do not value their fiat - they only value land, gold, tangible assets, hard currency (if they can get their hands on it) and Bitcoin (because through bitcoin they can actually have the equivalent of hard currency - despite their government blocking access to hard currency). So, in a sense, hard currencies like the dollar are not directly competitive with Bitcoin, but weaker ones are, because Bitcoin is the medium to have access to dollars despite a government's effort to prevent the population from stacking foreign exchange or using it to store wealth, or using it to conducting international trade.

Traders are in awe when they see a nice 10-15% spread to a Chinese exchange, but they have no idea that some people are arbing 50 or 100% for selling BTCs (in local currency equivalent of $$$) in countries that have numismatic instability.

The ~7TPS limit means that it may take a longer time to open each locker and if excessive xaction fees are required, then you have much less than 100,000,000 entries.

So it may mean that the stuff (colored coins, timestamps, etc) that you can put in the locker won't matter because there are other lockers on other chains that could be more useful. All smallblockers are doing is giving bitcoin's competitors time to catch up.

Trap, ofc.
I see less than 310 in the next weekend  

The report by those two analysts concludes that, if the Central Bank of Barbados had bought some bitcoin in 2009, it would have made a significant profit by now.  It then extrapolates the exponential growth of the past 6 years to decades in the future, with the obvious results. Based on that analysis, it advises the bank to buy some bitcoin.

my gf has her friend over,

I walked into the other room, and she asks "babe, how much would the USD be worth if it wasnt the global exchange"
I assumed she meant world reserve currency
I replied, " ehhhhhhhh like 1 cent ?  no probably not that bad, but ya, a lot less... "


I find it ODD they are talking about such things...

i'll be back.

It's probably safe to say that a Dollar will always be worth 100 cent, whether it would still be worth 0.0024 BTC or 1/40th a Barrel of Oil, now thats debatable.

Nice try.  You have to buy a dozen eggs to get them for 3 cents each.

And good luck eating that egg raw.  I'm sure the bargain bin store brands in Delhi are extra organic.   

What do you think about the analysis indicating each BTC tx uses about $6-$8 worth of electricity, in the context of these outrageous 3-cent fees?

Interesting theory that Wright's friend David Kleiman (who died 3 days after telling Gavin he was moving on to other things) was Satoshi.

https://seebitcoin.com/2016/05/everything-makes-sense-if-david-kleiman-was-satoshi-nakamoto-heres-why/

2013 just called me and told that bitcoin is a new and exciting investment

You can also print "I got Assburgers" on a piece of paper or stamp it on a coin, and, while your retardation is almost palpable, it, nevertheless, isn't tangible. The paper is, your Assburgers aren't.
You must learn the words you use before using them, starting with the word "tangible."

lets say 2020

I still don't get why the Chinese are very involved. Can anyone explain like I'm five?

You ever consider how much it would cost to secure a "$20 trillion+" POW network? Taking into account that it costs ~25BTC/10 mins to secure it now, when the market cap is a mere 10 billion?

they've kinda proved why bitcoin is nessary at this point

kraken and coinbase both seem fine from bitcoinwisdom..
Pretty much inline with stamp and finex..

roach is the new jstolfi ... only fools, idiots and ideologues can remain wrong in the face of overwhelming evidence to the contrary ... they all have no shame.

Bitcoin died again
Seriously though the panic from noobs & inexperienced bitcoin'ers is embarrassing when there is a mini dump. I'd understand if the price plummeted $500 over night but come on

Looks like my analysis was correct. If we close below 1650$ on stamp its all she wrote. If it holds we may go next leg up (less probable).

does anyone remember last Christmas when we were struggling to reach 1K ?    

EDIT : does it mean btc USD price doubled within 6 month ?

People see Bitcoin more as a store of value, for them higher fee's is not a major problem. Of course that needs to be fixed for lower tx.

Store of value is all that matters for the forseeable future. Bitcoin will not be replaced in our lifetime. If Bitcoin does not "succeed" then you can be sure that no other chain will replace it, the concept of crypto currency will have failed. The best that any alt coin can hope for is to fill a specific niche.

HOLY SHIT

whats going on in Altcoin-land

things actually make sense on finex....it would of course eventually run out of fiat because no one would send fiat there? hence price getting left behind.

Anyone know (or have links to) discussion about why Bitfinex price, after for so long with fiat payment troubles causing an above-market exchange rate, is now lower than Stamp's?

Everyone talks about "healthy growth"

But there is something I don't understand...
Healthy growth on a product, whatever it is, means that the growth is backed by a growing demand and/or a diminishing supply. In general it will be backed by an increasing use.

Correct me if I'm wrong of course, but what exactly is explaining the btc doubling its price in a month?
Did we double btc use? Btc demand?

I don't see what's healthy in this growth. I can't say I hate it though of course, but I'm much more sceptical about the "healthy aspect".

A few days ago it was BearStamp...

a gentlemen is in order.....
gentlemen...

Finex is 141 USD lower than Stamp. There is simply no fiat left, and if the price is lower than other exchanges and USD deposits are not working, how do they expect to get more fiat? What could possibly go wrong...

I don't think this is the big dump yet. Too weak, so far.

oh no these self assurance phrases are starting to kick in.

i dunno if these is tha big correction or just another mini dump, but man do i hate beliebers with lambo wet dreams.

im hoping for a huge bloodbath, with lots of screaming and tears  

3rd candle - what timeframe is meant by that usually? 1 hour?

<snip>

Any reason why Bitfinex is lower than Stamp? Did they clear up their withdrawal issues? Or are people just confident that it will be fixed?

Whats with GDAX/Coinbase... $100+ price difference between the major exchanges.

Time to short to recover 7k losses

because rise

If it does rally again in the same fashion as you are describing, it will also be headed for a large, deep correction (exactly what happened after 1200). What would be "better" would be some sideways for a while.

We both know that won't happen though.

It will be either:

1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.

2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.

We'll know in the next 12h I think.



Anyone else care to place their bets?

Of cource those are "sold out" while they mine at bitmains farm just as we write here.

I've avoided Eth like the plague because of their BS like this. Of course, I've also avoided making a shitload of $$$ on Eth...

Interesting ... or not ?

It's a mashup between a classic line referencing gambling from an old movie and the cryptographic concept of key pairs.

(Edit: It appears the phrase may date back more than 100 years)

I thought you were one of us?

something can be a higher market cap yet have no characteristics of a store of value. store of value was always something of a myth though. it would take many years before it was a fact.

What is happening 😱

Still waiting for the 10mb block... I am sure that it wouldn't reduce the fees too much as there would be 10 times more txs per block. And then move to 100mb block... and then 1 GB block ( 7000 tps).

What's the size of the mempool?

at least we agree on the problem : not enough tps. saying that excluding the fees. I agree it's problematic to modify the blocksize. But 7 tps is quite low for a worldwide system.

my problem with lightning is that it's another layer of instability / security issue. I find way more simple to raise the block size and if you look at internet connectivity or harddrive space or processing power since 2009 there has been a big increase in performance. Today a 100mb block wouldn't hurt anyone. but to be more gradual a 10 mb is nothing special.

who will control the lightning network? with a 10 /100 /1000 mb block consensus there shouldn't be any more problem as of now.

ICO´s are scams. a few minutes to gain $ 50 million for a small software project?? my ass.

isn´t it ironic that bitcoiners who get labeled by outsiders as delusional greedy fuckers see THE REAL GREED, see people on the verge of ruining themselves, and are all of a sudden conservative, sane investors... ?!  

lawmakers will outlaw all alts and recognize bitcoin only.

Bitmain going ahead with private HF.
http://bitsonline.com/bitmain-plans-hard-fork-august/

i am really getting confused. what will happen if... and what if...? can you tell me what you will do with your stash around august 1st? cash out to fiat? sit and wait?

my little stash is more money that i have ever possesed in my life. how can i protect it?

<snip>

BitmainCoin will be toast. Roger Ver, you scumbag rat cocksucker, get rekt.

why should it contribute to volatility? imo its actualy positive as more retail BTC transactions are making bitcoin more viable and stronger in the long run. Only setback now is limited amount of transactions in 10 minute block window, and high fee

I just signed on as a volunteer for a new seasteading company, Blue Frontiers, as part of the Blockchain group. We had discussed an ICO at the conference but their legal folks are pretty sure that stuff will be stamped out by the SEC at some point. I believe we might go the route of allowing for purchase of equity with bitcoins. My input to the group will definitely push the concept of being able to invest bitcoins to get invested.
I believe the main push will be toward recording property rights on the blockchain. Can't really record a seastead deed in some government office.

Can somebody give me A Very Good option about whats gonna happen and why with A Good and easy explanation
And what to do best with A big stack of btc???

Let me know thnx

https://steemit.com/cryptocurrency/@anonymint/shocking-crisis-coming-to-cryptocurrency-in-sept

I don´t get the part of "stealing" segwit transactions. It sounds like bullshit, but Anonymint have a greater tech knowledge than me. Can some tech savvy user confirm it?

wow, that's alot. Thanks micalith.

Hmm very twisted logic. If BCH confirmations are the problem then BCH deposits should be limited not bitcoin withdraws. Limiting bitcoin withdrawals means this exchange is running fractional reserve on bitcoin! It is very dangerous to keep your bitcoins there!

I have to say I am surprised about the price action. Segwit lock-in rally?

much technical
very analysis
wow

Litecoin dumped like someone jumping off a building soon as segwit activated (probably because segwit changes mostly nothing since lightning network will only work in a centralized manner).

It's time to aim high. $1 billion dollar bitcoins within 5 years. Book it.

Core devs have no intention of stopping the 2mb fork. Core just won't join it. Everybody is free to make any fork they like. There isn't any drama. More free money for bitcoin hodlers. How can that be a bad thing?

You definitely don't understand what you're talking about. The rest is just wishful thinking.

 Advise.  The word is advise.

^^^^^^
For the big circle that diagram should read "2017 Everything Bubble"

I you're talking about Segwit 2X then no.

Core has wanted Segwit for years. Now it's going to happen, but instead of people accepting Segwit (which they refused for years) they accepted Segwit2X = Segwit + 2MB blocks. The Segwit part is a tested piece of code (could still have bugs though), the 2X is untested, not made by Core.

By launching BCH Bitmain have already fucked the NYA. Everyone else will slowly fall away.

https://www.bitwala.com/bitwala-statement-segwit2x/

Bitwala's statement re the forkathon. They were also NYA signees. Most of them will bail long before November.

So every post is worth 5cents. Keep it going guys (It´s not up to me anymore, i´ve contributed my 5cents for today  )

Yep. Holding has worked well since 2013. Hopefully the same next 4 years.

Had a dream last night that I woke up and saw my bitcoin price ticker up over $400,000 and rising quickly. Saw it touch $500,000 as it came "crashing" back down to the high $300k range.

With such high numbers I couldn't even think of how much money that meant I had...just that I was fucking rich. Then I woke up 

Half ?

Where is the next fibo line up? Bottoming from 3750usd must put us to...around 4100usd with this rebound? or am I being too optimistic?

Interesting how there is so little talk around here about how many Chinese BTC Western exchanges will be able to absorb in the first place.
Because rest assured: what cannot be sold in China will be sold in the West.

Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case.  Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.

Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.

I'm curious how people think about these questions, as there is way too little attention for such things here.

In my humble opinion its current price is partly based on a pyramid schmeme...but that is the property of every bubble

I can assure you this will mean another 2-3 year bear market!

Probably the bottom.

China's Bitcoin Exchanges Receive Shutdown Orders and Closure Timeline


https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/?utm_content=bufferd5f92&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer



1. Before 20 September 6pm, exchanges shall come up with a detailed risk-free clearing plan, and send this plan to the office. Exchanges shall deal with their claims and liabilities properly, and insure that investors’ funds and virtual currencies are safe.

2. Before 20 September 6pm, exchanges shall determine a bank account, which will be used for depositing user funds. All other accounts in banks and other non-bank payment service providers shall be canceled and reported to the Business Management Department of People’s Bank of China.

3. Before 15 September midnight, exchanges shall publish closing announcements, and announce a schedule to stop the trading of all virtual currencies. New user registration shall be stopped immediately after the announcement.

4. Shareholders, controllers, executives, and core financial and technical staff of exchanges shall cooperate fully with authorities during the clearing, while staying in Beijing........ (Wait ? what? ermm? I have a , errmm wedding in err Scotland,no sorry I mean Syria , err  must dash !!!! )  On  a serious note I know a family in China- the authorities turned up at their house one day- and took the father- and he was never heard from again! and with ZERO explanation.  

5. Exchanges shall report their developments daily to local authorities before the clearing is completed.

6. Exchanges shall save all user trading and holding data, and send it to local authorities immediately in DVDs.

The document is signed: The office of the Leading Group of Beijing Internet Financial Risks Remediation, Sept. 15, 2017

Hey, I'm a long HODLer. I'm just sayin', these swings be causing really bad gas and stomach cramps. Worse than eating at the DQ in Butte.

cotton pickers? ..i still hodl Lehman coins lol

Google Pixel 2

overbullish anyone

Best time to convert your bitcoin to a worthy altcoin?

I guess its enough crash for the alts now... time for some recovery!

If you take your profit And buy lower now..
You Will get your btc gold...

The thing is you need your btc on the dat When te fork happens

Right?

We're all super impressed. MP is our god. Can we move on now?

is crypto done??  

https://news.bitcoin.com/bernanke-eventually-governments-will-take-any-action-they-need-to-prevent-bitcoin/

well, the B2X attack is still not over yet. Yesterday coinbase blogged about following the current bitcoin chain instead of this B2X crap. Now they clarify their intentions:



source: https://blog.coinbase.com/clarification-on-the-upcoming-segwit2x-fork-d3c0f545c3e0

The fact people aren't migrating away from Coinbase en masse tells me something about people--they're mostly a bunch of apathetic wankers.

If B2X doesn't happen, how will the exchanges cope with the customers who bought it in exchange of their BTC? Will the trades be reversed?

(This may very well be applicable to BTG too)

is gentlemen this

I just wanna go surfing  

My ultimate dream is a sign in front of my business:  "Gone swimming" !

Investing in something that might be burdensome and for something like 'waves' that are for free is not a good business.

Well sheeit.

Was nice knowing you, $7,000 USD/BTC. Hope to see you again soon.

And when is this thing supposed to blow up ?

Why is ETH up and BCH down? This market makes zero sense.

The crash of 2013 is on again.Saw it coming a mile away.

The fluctuation of bitcoin can make many investors stand the heart, We do not know if there will be any future for bitcoin!

Most provocative statement therein:


I get that the market cap is not a measure of the sum total of fiat spent to purchase Bitcoin. But $6B? That low? Seems off by an order of magnitude to me, but I'm just pulling a feeling outta my ass. I also get that this figure is courtesy of JPM themselves. Anyone know of an independent source for this statistic?

So what’s the game plan here.  Whales going to attack their own walls to simulate a market surge?  And then short LTC and Eth?   

wow what a crash this night...is this normal??

More important than what 30k smells like, what does a range of 10 days smell like?

Is bitfinex the new gox?

Socialist?

Sweden has always been a capitalist democratic country with due process and all that.

Whats happening?

The whales are letting the market to cool off after their pump and dump. Calculating profits   As soon as they're sure all weak hands are out they'll pump again.

But the semi weak hands are still in .... but maybe let them stay in 

What about all the Tether fud?? And why no response of any kind from Tether? even a bullshit response like we have hired new auditors etc

EDIT: Havnt read it yet but -- https://tether.to/wp-content/uploads/2017/09/Final-Tether-Consulting-Report-9-15-17_Redacted.pdf

This prediction is extremely unlikely in my opinion. Many long-term holders, who took
profits during November/December are going to buy back way before that number. Besides,
institutional money will hop in way before that. 2.5k / BTC would be below the break-even
point for most miners...

Too many people are directly incentivized to prevent BTC from falling to 2.5k.

I go out on a limb here and will say that we will never see 2.5k again.
I will be buying BTC with all my remaining fiat money way before 2.5k myself.

In theory tether is pegged very close to the dollar.    It has been flat the last year while most coins are still up 300-1000%

or craig wright is satoshi and on jan 1st 2020 has access to that blind trust with billions of bitcoin in it ..(as last man of the satoshi group alive) and he dumps it all
just to burn us all.....(this is how life usually works in the bitcoin universe ...weird as f*ck)