What the hell is going on? How am I supposed to sleep like this?

Do you guys think the lawsuit is going to affect the price?

This wall @110 is making me nervous.... just sitting there, doing nothing... silently judging me... mocking me.

I know what you're up to wall, I'm onto you. You can't fool me, wall. Nobody can fool me. Not after what happened last time.

Just do something already, wall, don't just sit there!!!!

'k. Time to go to bed.

But what happens when the upper blue line collides with the lower blue line? 

What does that mean ?

also, I've been wondering if reptilia is actually right.

Maybe will (now) never see sub $100 again... not sure about the 300k part thought

I'm not sure your maths are solid there.

This probably isn't the place for an in depth philosophical discussion, so I'll just say that I don't at all believe those are the only two possibilities. Party on. 

Who would be selling right now, when Bitcoin is so obviously getting geared up to go?

Can you believe Mtgox still didn't fix their shit?
How is that even possible?

no I converted my computer chair into a toilet and haven't left this forum since 2011

well thats new

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

in 12 days i will be the one loling.

Personally I just bought 30BTC on Campbx for $98 and can't get them to Gox fast enough to sell before we see $100 again. I would love to make a quick 3 BTC before bed.

You realize that anybody who buys their security does this instead of buying Bitcoins on for example Gox?

At the moment though, and it hurts to say, btc is still almost exclusively a financial platform, a very speculative one at that. Not nearly ready to go helping the 3rd world.

Fiat is stinky beans imho. I plan to unload massive USD realllll soon.

This is insane... broke 80, 85, AND 90 in one day?

Something isnt right here.

beautiful naked big titted women dont just fall out of the sky you know

It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.

but why?

There is no selling pressure atm.

One major bearish sign is that there have been no recent bitcoin music videos made as far as I'm aware.

I have a feeling MtGox will soon burn to the ground...


this thread will be irrelevant,


I vote that chartbuddy move the Stamps thread now.

Care to tell us which one?

CampBX is US based. It is not legitimate?

I've heard their engine can be slow, but is usually adequate for their volume. Also, didn't they recently upgrade?

Do they have reason to develop further? There is so little volume, why waste money expanding or improving the platform until the demand is there? I don't think this bodes well for other US-based exchanges on the horizon. There is simply no demand for them. I won't be surprised if many months after launching they still struggle to maintain even a small fraction of whatever volume is on gox.

Bitstamp doesn't offer bank wires?

Slowly but surely gox is dying with their incompetent approach to this business...



http://bitcoincharts.com/charts/volumepie/

Litecoin looks more and more doomed.

You'd be crazy to buy on Gox's 10-20% premium

Wait wait wait... guys... Bitstamp is at $118 and Mt.Gox is at $122... could it be... that Mt.Gox solved the withdrawal problem? Is this the elimination of the spread we've all been waiting for?

Shut up walz, you drama queen

Still there is massive volume missing and I have no clue if localbitcoins and all the others compensate for the missing volume on gox.

except that litecoins cannot be mined via asics by design.

what's the most likely reason for this considerable push upwards?

LOL, if it gets to $180 any time soon I suspect it will 'do a 180' 

There is no reason anyone should not be looping this right now.

http://www.youtube.com/watch?v=fZfg1Gtcg08

OBVIOUS PANIC BUYS ARE OBVIOUS, YOU PANIC BUYERS!!!!!!!!!!!!!!

^past three hours. 

So what happens when all the coins finally leave Gox?

Seriously. This is a good day for any bitcoiners that suddenly want to line their pockets with yuan.

Because BTC is the king of crypto  

http://en.wikipedia.org/wiki/Network_effect

Steep climb up on almost no volume without ask side replenishing. lordy, the next crash gonna be epic.

only on 5 days has bitcoin traded higher than this

Mother of god. Any other banks are doing the same?

puahaha whaaaaaat? They're sending them to western union? Really?

That's ridiculous!

This growth is insane.

price is going up in a parabolic fashion on gox what should we do?

Remember the last time we were at these levels? This forum was like a carnival. Now... not so much.

seriously... where are all the bitcoins?  

What about volume though? Back in April it was 10m to 45m a day. We are at best between 5-10m a day. Stamp down in the tens of thousands only. Think we became more of a niche?

yes but I think USD volume is more relevant than BTC.

i am now a bear.


just incase no one noticed....

[22:33] <@MagicalTux> samson_: downloading new blocks as fast as bitcoind can

They should also have several fallbacks.  They already generate and sign the transactions with their own code, so they just need to broadcast it.  Any client can do that.

I'm just saying that all they need is the network communication code to be able to broadcast the withdrawal transactions, and they should have redundancy in their setup in case a bug is triggered in one client or a server goes down.  Also, I doubt they are using bitcoin-qt... I'm not sure where kazu got that from.

there is a case to be made for using bitcoind. It's tried and true, community-reviewed and in widespread use.

They give you the transaction id when you withdrawal, which means the transaction has to be created and signed.  It is later broadcast on the network.  There is always some delay, but with the outage the delay was longer than normal.

That is a good example of a possible fallback they could implement, as I suggested.

Okay, anyone has good ideas for destinations to move to for economic refugees of the EU? I'm definitely not paying for their shit. ...

But what you've mentioned is the achilles heel of a "sound" currency.  It is theorized that during recessions/depressions people tend to hoard it, spending as little as possible -- saving it in case the recession continues.  This creates a negative feedback of reduced consumption -> fewer jobs -> more reduced consumption.

Surpassing 197.39 in less than 4 minutes.

PSA: A correction now, even a big temporary sell-off, would be totally normal.

That's not saying we'll get one, but don't panic if it happens.

seems these "beers" want a crash cuz they sold already and want back in, loll

to bad

choooooo chooooo

Its almost certainly just a photoshop (and a very easy one to make), so yes.

The vids was a spur-of-the-moment and not really plans of anything ongoing. Felt inspired to capture the moment, kinda just joke around and have some fun...Everything was kind of surreal back then wasn't it 

May do some vids again later, but it's quite hard to think of anything good, guess I'm waiting for the right moment.

When will someone make a service that will truly revolutionize the way we use bitcoin?

Awesome, when can we expect it to release?

Big move upwards. Same relative volume.

I shorted around 180 during the downtrend after the huge sell...Then at 180, it perked right back up. I figured it was a short bounce before a continuation downwards, and continued opening short positions up to 190.

Now, I'm not sure if I should close the positions and take a huge loss...or wait it out, and possibly lose all the BTC in my leveraged short positions...

Opinions?

is this available online? looks like could be from blockchain.info?

Is the darkness of the line volume or something?

Yeah +1 but please do it with a log scale .

crashing hard from mid 180's down to 200+

When a Basket is redeemed, this often means that bitcoin will be delivered in redemption, however the trust reserves the right to pay out in fiat Dollars instead of bitcoin in the value of the bitcoin at the time of the redemption request.

Seems the bubble is inflating again. But the bids are so thin...

keep in mind that is the result of 0% trade commissions

i just don't want to have a dejavu in some months asking myself why i bought at the top again.

dear god

its really hard to say who will get the majority of volume...

Stamps, BTCchina or some other new foreign market!?

I like very much ripple as a transaction platform - way better than bitcoin but a lot less anonymous, can be confiscated more easily, not good store of value etc.

It means imminent crash to single digits

I also assume that Coinbase is buying from both Btc-E and Bitstamp, whichever is lower. So I assume that that is closing the gap too. I may be completely wrong about who they are buying from though.

Coinbase buy price is >219, where are they getting them?

If they are matching internally, they are doing so poorly if they can get them off exchange less expensively.

234.95!

Right, that may well be.  Which suggests a forward indication as they take about a week to award the coins bought there to the Coinbase cloud wallet, so not even transferable elsewhere.

Have we established why this change happened yet? Who knows, perhaps Coinbase has a way to withdraw via Emptygox?

fml, sold at 204 weeks ago

While I agree that $10k is unlikely anytime soon

I could bet 1 BTC if price is $10,000 (+- 5%) by 31.12.2015 only if you bet $10,000 (+-5%)

Wow, coinbase is giving me the ol "We've exceeded our daily buy limit" message. I haven't seen that since May, though I don't buy every day or anything.

Whenever we hit ATH

This is what makes it so amusing.  The bears think they are being special butterflies by saying crash! crash! but are really part of the mindless heard themselves.

Show me an ATH or reasonable spike which did not end with a crash?

[02:22:57] <phantomcircuit> and finally and i suspect most significantly they dont answer the question of what happens when two selfish pools are operating at roughly equivalent hashing rates
[02:22:59] <HaltingState> its ripple's security model
[02:23:02] <sipa> but we should aim for a system that doesn't need such assumptions to be secure
[02:23:07] <phantomcircuit> i suspect that they both lose out in the end
[02:23:09] <HaltingState> "nobody will ever try attacking the system as it decreases the long term value" <-- ripple ahaha
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[02:24:18] <phantomcircuit> sipa, it's the combination of all of them that has the largest impact
[02:24:27] <phantomcircuit> by itself that's not a significant consideration
[02:24:42] <phantomcircuit> but if they tried and only were able to increase their revenues 25%
[02:24:46] <phantomcircuit> well that's just pointless
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[02:25:17] <HaltingState> if one mining pool increases revenue against another; does not affect bitcoin; mining is just unfair now, but security is same and does not affect anyone except miners
[02:26:26] <@gmaxwell> phantomcircuit: not just a little more variance, a LOT, this was elu's almost instant comment on the subject.
[02:29:57] <phantomcircuit> gmaxwell, yeah i assumed as much but wasn't sure
[02:30:18] <phantomcircuit> either way it's pretty clear to me that their conclusion is wrong
[02:31:52] <@gmaxwell> phantomcircuit: when successful it makes you get more blocks by orphaning the other guys more, but you get less blocks (because you get orphaned more too) so you don't really enjoy _gains_ until the difficulty drops.
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[02:34:41] <phantomcircuit> gmaxwell, ah i hadn't thought of that
[02:34:50] <phantomcircuit> im sure it's much easier to just ddos everybody :/

Coinbase reached its daily limits for buy orders (whatever that means) early in the day today.

are there any types of sites that show total volume across major exchanges? curious what volume looks like vs april.

I would actually prefer if the price stabilized right around here and consolidated for a couple of weeks before moving on. To much of a hype right now, and the base is way down lower, around 185-200. I am afraid that a failed attempt to break through ATH would be very bad right now.

250 won't be much of a hurdle on Coinbase as it generally follows Gox.

Some how I always get the names mixed up when posting.

Coinpeople bitplease stopcoin bitusing coinames bitfor everycointhing youbit coindo omfbitgod!! #bitcoin

We might see 300 by the end of the week, however it is not the prices that we see it is the overall feeling of the community.  Where will the resistance be after $266? When will the inevitable bubble burst and how will we know preemptively?

Yes, theUS would simply get left behind in this scenario, and would be incredibly stupid and short-sighted to do so.

With the increase network difficulty today. The amount of BTC being generated will put further strain on BTC supply.

I don't think you have enough tabs open.

Alright this time I think btcchina led the recovery instead of stamp. What do we call this instead of a stampede?

looks like a good place to sell, only if i wanted to sell

I do wonder, if it is a bad sign that someone parts from such an amount of BTC?

Now why is coinbase much higher than anyone else?

My guess is that Coinbase just had a huge surge in US customers wanting to buy bitcoins, and they can't wire money to the exchanges fast enough to keep up with demand.

Thus, they are trying to tempt people into selling there and also reducing the number of BTC they need to pay out by raising prices.

When is it safe to go to bed?

yes, but not in, unless you trust the Russian mafia with a suit case of cash...   they have been pretty solid so far but most people dont really want to do that... they would rather trust some asshat in japan

Even China will stop buying at some point. Not today, but that day is coming.

startups in garages with great ideas are the things established players fear the most. 

At what point do the gox fiat holders freak out at the diminishing bitcoin orderbook and just panic buy to get out? Time to put some gas on this fire.

and then...

We'll see double digits again, don't worry.

Or is it fiat AND BTC?

Gox really does go out of its way to just completely embarrass itself at every opportunity.

So does the bubble break at $366 or $532?

[16:37:47] <chaang-noi> is it true mt gox ran out of both fiat and btc?
[16:38:01] <+SarahCoinBit> mtgox646: We are not having any type of funding issue.  The coins are there in limbo
[16:38:20] <+SarahCoinBit> chaang-noi: We have not ran out of anything, nor is this a cold storage issue

FUD. Tried it for myself. Withdrawl from gox took less then a minute.

Mine has nothing to do with newly minted coins, I don't even mine, been waiting since last night.

Guess the bears have ran out of ammo again.  I don't know why they keep trying.

This is the internet. That's a) Often done and b) usually true.

How do the miners get the coins onto Gox in the first place if they can't be spent??

Sorry I'm not following, how did CoinBase get into this?

Not FUDDING, but the reports of btc withdrawal probs at Gox just keeps on growing: https://bitcointalk.org/index.php?board=85.0

Never underestimate Gox's incompetence. It can derail any rally.

[02:39:49] <@marionxd> justusranvier: The truth, they are working on today publication and that is why this communication is delayed

whoa.. is this real life?  

Historically, my ridiculous bearishness has cost me.  Just ask adam.

I have to admit I'm a bit worried of having gone parabolic so quick. As we all know parabolic growth is completely unsustainable mid term and preceeds panic sells and deep crashes (the wild euphoria turns into panic very quickly), so I would have been more comfortable with a few months of linear growth before the 3rd mania phase w/ exponential growth.

If this trend continues with stopping to consolidate and return to a sustainable path we would reaching five figures in just a month, honestly I don't think that will happen, is more likely that huge correction/pop happens before that unless there is a consolidation phase.

I hereby want to apologize to all the permabulls I have been finger pointing, cypherdoc, rampion, justusranvier and many others here.

[17:13:13] <SarahCoinBit> The deposit issue is fixed now so everyone should have their coins.  Please let me know if your deposit still hasn';t gone through

any word on withdrawing btc?

[17:17:07] <SarahCoinBit> Thank you everyone for being patient and sorry for any inconvienience
[17:20:03] <joesmoe> 48 hours i've been waiting now
[17:20:37] <SarahCoinBit> joesmoe: For a btc withdrawal?
[17:20:38] <yerp> go away joe u crybaby
[17:21:05] <joesmoe> SarahCoinBit yes
[17:21:55] <joesmoe> 2013/11/07
[17:21:55] <joesmoe> 01:41:54
[17:21:56] <joesmoe> withdraw      120.00000000 BTC   0.75259713 BTC
[17:21:57] <joesmoe> Bitcoin withdraw to 1J5bpFfpHavNyyJtVu4AqRqjZSQjA5dxKD
[17:22:00] <SarahCoinBit> joesmoe: We are trying to resolve it as fast as possible, sorry for the delay
[17:22:15] <joesmoe> also have other transfers missing as well, but thats the oldest and
[17:22:18] <joesmoe> biggest thats missing
[17:22:44] <SarahCoinBit> joesmoe: Sorry, they are going through but it's taking time to fix each one
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[17:23:57] <joesmoe> maybe they could fix them in priority of size?
[17:24:08] <Xialla> no
[17:24:12] <joesmoe> would be most logical in my opinion to take care of the more profitable traders before the less profitable ones
[17:24:18] <Xialla> no
[17:24:47] <joesmoe> obviously a dev's time is limited, and fixing things for larger transactions thus is more profitable in the long run fox gox
[17:24:59] <joesmoe> Should have to wait days for a 120 BTC transactions
[17:25:14] <joesmoe> should not*
[17:25:19] <joesmoe> Xialla: How long u been waiting?
[17:25:43] <SarahCoinBit> joesmoe: We are not showing any favoutism.  It is in our best interest to get them all fixed as soon as possible.  Cherrypicking which ones to fix would take much longer
[17:26:09] <joesmoe> funny because i notice most of the others who were waiting for multiple hundred BTC withdraws are no longer waiting, yet here I am...
[17:26:14] <SarahCoinBit> joesmoe: I'm very sorry you have had to wait

Anybody here even slightly concerned when looking at the 2yr charts at bitcoinity?

Funny that they have the same sleeping habits as actual Chinese people in China.  Weird.

What charts are you looking at? The actual growth is almost double that!

The weekly weighted prices from here:

Indeed : 350/200=1.75

Explain?

Wow, today has been REALLY rocky, even by Bitcoin standards.Seriously, each one of those "big-wicks" is almost 10% of Bitcoin's value. It's done that like 4 times already.

bitmit = bitpay as far as i am concerned.

Nice start to the week. /s

At least Gox is minority now.

is there actually a better alternative than Gox for traders who want to trade in euro?

tinfoil hats for sailz! ~ I.D. REQUIRED!!! rotff!!!

This shit deserves its own thread!

Someone knows! Not me.

Why do you think we keep saying "Buy and hold". Do you think we're joking? Do you think this is some kind of game?

Buy. and. hold!!!

I really don't understand the "all or nothing" mentality of some people. Hold some, trade some. Even when you lose, you win.

What a load of bullshit.

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

I'm a little concerned that their plan is to make their piece of the pie the only 'valid' piece.

Hopefully not.

This is not mental. This is Bitcoin.

This has happened before, it is now happening again.

Actually, you might be right justunravier, depending on how you want to calculate it. The latter stage of the 266 bubble was just as insane though. But it's no use to argue. This bubble is made of the same stuff as the 32 and the 266 bubble, not much difference here.

$50 spread between Stamp and Gox.

This can't last forever. This is a serious divergence. When we've seen this before it typically resolves itself in a correction.

Bitcoin Days Destroyed not as high as previous ATH at $266. Less coins coming out of cold storage to sell into this rally??

Danger: Curving upward on the log chart. If we don't get a correction soon this could be the final blow-off to quadruple digits then crash.

Someone please STOP THIS THING

You can't win.

Have we officially gone parabolic?

Mother of God... With what price I'm going to wake up with?

Bitcoin Foundation policy director of some kind, and Bitcointalk's newest sex object.

I'm worried about the increase in market cap. Before we were talking about adding hundreds of millions a day during the bubbles; now we're adding BILLIONS in implied value per day to the Bitcoin ecosystem. If a lot of people panic sell on the pop, there's no way there's that kind of money to back up the price. The correction may be brutal.

[04:48:45] <@MagicalTux> very large sell order matching too many buy orders, causing the security system to stop the trade and rollback anything that was caused by it

Today reminded me how vulnerable bitcoin really is at times. It was going up so strong you could have been fooled into thinking $500 was gone forever. Major eye opener. I'm glad I was here to experience it.

to support your statement:



because I am a proven analyst like you can see in this chart, again.
on a serious note: I think we really will go higher, break this 700ish and .. well, to da moon.

Only recently (from BitchicksHusband?) did I see someone mention a sigmoid curve...

lets make up a new term.

call it, V shaped TA trap.

After the epic start to the week, I was fairly sure that Bitcoin would end mid-range ($650) at the end of week.

But now... this damn thing might just finish the week on its highs.

It only has to finish above $670 to make this the best price performing week in Bitcoin history.

We have added $3.5 billion in market cap this week.  No other week compares from this perspective.

I never expected

a germain bitcoin is the color green.

0

I'm not so sure... The night is young (in EU at least)

What sucks is that I bought back in above the point at which I sold before the crash - oh, well... at least I got in.

it usually makes sense

For most people, holding 100% of the initial amount is not a wise choice. It is good to diversify by selling into strength to account for the possibility of a black swan event in Bitcoin technology. This way you steadily accumulate also non-BTC assets, and can learn how to handle wealth. You sleep better and don't see dips in price as an opportunity to panic, but rather an opportunity to buy back if you really feel like so. The selling plan must be based on percentages, which means that no matter how high bitcoin goes, you still have more value in your remaining BTC.

If you have BTC1,000 and you absolutely want to have the same number when it hits $million, then it is best to just bury the paper wallet into ground and wake up when you are a billionaire. Trading only makes you lose the most of it over time with no gain. But it is not healthy for anyone to suddenly become a billionaire.

If instead, you flex your Excel muscle and devise a plan to sell BTC900 in decreasing increments at exponentially rising price points, you will already be rich and well-established when bitcoin hits $1 million, and totally content with the idea that your remaining stash is still worth a cool $100M.

In other word, if BTC cannot be used as a real currency

You know what I mean. I mean it is used widely so we don't need to say 'sell' it anymore.

I was quoting prices is dollars for convenience, because this is a large forum where most readers do not use bitcoin as their accounting unit.

Wealth is the same, regardless whether it is measured in bitcoins or dollars, because (in any point of time), bitcoin is a fixed multiple of dollar.

I do advocate using dollar as your accounting unit, since its value (purchasing power) is relatively constant, whereas Bitcoin's purchasing power increases tenfold every year. It is just handy.

But I also encourage to carefully consider that every one of your bitcoins is increasingly likely to reach $1 million in value quite soon. It should be treated as an inheritance, not to be wasted away. Every bitcoin you give away must give you more value than an extra $ one million would have given you in a few years of time. This is accomplished by selling only so little that the remaining amount is worth more (more dollars, houses, or gold) than the whole stash was in the previous stage.

How you allocate the non-bitcoin part of your portfolio is up to you. I do not advocate holding dollars as any % of it, unless you do arbitrage or something. The value converted from bitcoin should be used to buy silver, gold, castles with apple gardens, businesses, etc.

If you are a world dominator, then it makes sense to acquire as many bitcoins as possible and not care about the above. But who wants in that kind of game anyway...

Walsoraj, you were predicting a crash to single digits when we were at 150USD....its hardly prophetic to keep predicting a fall when there are only three directions a market can go in.

The exponential trend line is a myth. Media awareness may grow at an exponential rate at first, but there is a "hype" effect that will cause it to eventually depart the exponential trajectory.

I believe we are seeing that now: all time Google Trends high, it is showing up regularly on network news, etc. It's not reasonable to assume that we can go from occasional web journalism to news networks without departing the trend.

Also, the amount invested by every individual joining the ecosystem will grow over time, since there's an intangible measure of "trustworthiness" Bitcoin gains by surviving each successive bubble.

Trend lines are fantastic predictors of the past, but their predictive power for the future is not so simple; you are drawing this trend, then assuming that the trend is created by some fundamental mechanism of growth. Unless you are correct in the assumption of some fundamental mechanism which will continue into the future, the trend will fail to accurately predict.

So really, without thinking about what the mechanisms of growth really are, it's just a blind guess.

This is a great illustration of how well an exponential trend line can predict the past.

we are also dumping massive amounts of fertilizers and organic waste into our oceans.  This encourages algae blooms that  absorb dissolved oxygen and create more CO2.

what happened? The Chinese dear leaders sold a bunch?

They said : "bitcoin went too high too fast, big bubble danger, stay away, because we're not done buying yet."

How is it that online wallets are so vulnerable to thefts? Do they all have the same vulnerability which can't be fixed or something?

is there a safer option (other than paper wallets) where they don't have to download the whole blockchain?edit: sorry OT

slow and steady we will escape earths gravity!

There are 5 major exchanges now. When you see a 1K buy you need to imagine it is a 5K buy.

That 14k of buying earlier on gox was like 70k of buying - market changing. We are going to the moon.

Can someone explain to me how such a low volume of trades (compared to april of last year) can raise the price this high?

You have to measure volume in USD my friend, as the price is going up.

How can you pass your pants???

Did someone try to create a dip by selling hard at Gox an hour ago?

Selling on gox to repay the loans is not the best movement  

Not with a 3 month withdraw window.

So LTC is better than BTC? Did I miss something??

it is just as easy to use as BTC if not more so cuz to download the wallet its like sooo much faster.

Are you LTC bullish with this chart or are you, as I am assuming, showing us that LTC just hit major levels of resistance?

complete redundancy of fiat is a rather extreme scenario

Here is a way:

You weigh it (on an accurate scale), than you measure the volume by putting it into a finely graded  measuring cylinder with some water. Note the increase in volume when adding the gold bar. The volume for one kg gold should be 51.86 cubic centimeters (ml).

all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.

there is more reason, at least for me, to believe that bitcoin will be accepted by a major retailer.. we're already hearing tons of chatter about ebay/newegg/amazon/tigerdirect accepting BTC.

Get ready ladies... Gox is about to take off.

Up, but slowly over the next day or two.

Up, but slowly over the next day or two.

I always wonder what possesses someone to dump like that.  If they wanted profits they could have bled it into the buyers a little at a time and made more $, although on a slightly longer time frame. 

Unless they are plumb dumb and thought it would change the market sentiment.  ::shrug::

Only hillbillys and rednecks use dynamite. Why am I not surprised, GOAT?

I was very happy to see steam getting blown off though.

Brainstorming for names here: Pumpcoin (PMPC), CloneCoin (CC), SuckerCoin (SKRC) ... any other ideas?

Yeah but the fact that he tried to tumble 96k and then put it together back in one wallet address doesn't give him much hope. How many wallets addresses with 90k+ balance do you think there are

Eh, this really doesn't seem like a big deal.

probably someone at reuters has a bunch of bids at 800

It's not even bad news, is it?

So this is good for common chinese folks, but not good for big chinese corps who want to invest, why is government doing something that is not good for big corps? This is not common in western world that's for sure. How is chinese government going to profit from this, from common folk?

do you think this was all played ? create some panic people start selling and some big hands eats the weak hands ?

As you may notice the pumping bulls are starting to get scared, we aren't going to see all time highs ever again. Bitcoin will level off and media attention will die off since we're the only reason it was there to begin with was because we were in a period of expontential growth.

People will look back in 3 years time and laugh about how a virtual currency with so many intrinsic flaws managed achieve a market cap of over 12 billion.

Cryptocurrencies may be the future, but it will not be bitcoin.

I am beginning to wonder if I am the only person here who does not live his parents, has a car which cost more than a thousand bucks, a nice sofa and er.... a girlfriend.

Saving is good, hoarding like a lunatic is not.

Let's say only 300000 people own bitcoins today and they all decide to hoard their coins for 20 years. How will this new money spread to the rest of the population?

I was all in the mood to watch, but it says it doesn't exist  

The question is how long this time to twice the previous ATH?

BTW, that video was not random.  You guys have your charts.  I have my funky sensations.

Oh sorry, didn't mean to be vague.  To the moon!

My guess is we get another wave of selling, while it's still advantageous to do so before Monday's western exchange fiat begins to arrive.

china crisis hit us hard and we were in full on panic mode yet @550 the market decided woohoo cheap coins! I still think anything under 1000 is cheap coins. Not sure if we'll make 4 figures next week but we'll come close.

Can you elaborate why ?

The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina.

Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange.

My guess is someone will set up the new btcchina in India soon.

And if the price goes off the trendline for very long, the trendline will shift... So how do we know whether Bitcoin has been mostly trading above or below whatever the trendline will turn out to be, so far? I'm guessing some tea leaves will be involved.

The crash was basically a big profit-taking dump masquerading as supposedly negative China news in order to suck in more panic sellers for the re-buy.

see you guys at 300?

There's only so many coins and they need to actually have them (or the cooperation of gox to be able to sell coins they don't have).

This would be great, and a huge advantage to the network and for security of exchanges and customers alike.

But will the exchanges do this?

It may be they already sell BTC they don't have.   These exchanges are not run by paragons of virtue!

Getting BTC-e, Stamp and Gox all doing this looks tough - UNLESS they are more afraid of security issues than being found out for what they are (potentially) hiding from the market.  It is possible on balance this is the case.

It would be a leap forward if it worked - but it will take the will and a lot of work.

EDITED to remove thoughts on how they could sell coins they don't actually have - no need to freak everyone out!

dont listen to him. This soundwave will cause you lose control of consciousness, most likely cause you to do some shitty trading like panic selling.
You've been warned

While the document you linked is scary official looking, and in chinese so nobody can really read it easily, a google translate shows that this document doesn't even mention bitcoin or anything related to policy, it just mentions the characteristics of deposits int foreign currency and basically is a financial report on what happened with the bank in october..... not sure what we are supposed to extrapolate from this information.

So China really banned deposits from banks and other payment processors to bitcoin exchanges? Is that what this is, or still speculation?

Ok whos buying?

I doctor friend once told me that it's much healthier to shit squatting than to sit on toilets as westerners do.... something about long term effects, organ health..... something....

Someone just needs to design a raised platform to place around western styled toilets so we can get the "squatting" experience here the USA.  Sell it on an infomercial and talk about the health benefits.    

How do you know these things?  

The movement originated on btcchina. How do you feel about this?

TOKYO - JAPAN - December 19, 2013

Dear MtGox Customers,

Thank you for your patience and support all throughout 2013.
As we noted in our previous update there are many things happening, and we’re proud to announce two more major developments that will make MtGox both easier and more economical for our valued customers:

- Special fee discounts for the winter holidays to celebrate reaching one million customers.  
- A new partnership with payment provider Mayzus Financial Services


1) One million MtGox customers and reduced fees for the holidays!

Thanks to our loyal customer and increased global interest in Bitcoin, MtGox has now achieved a milestone of over one million customers and growing.
This is an incredible moment for us all, and to celebrate, we are offering a Special Holiday Discount of 25% off all trading fees starting today, December 20th 2013 to January 20th 2014!*


2) Mayzus Partnership

We are proud to announce a new partnership with Mayzus  that will enable our customers outside of the United States to deposit quickly and without long processing times.

Now that we are working with Mayzus, a leading financial company that is in-tune with the future of Bitcoin, anyone with a verified account will be able to quickly send money to their MtGox account via 126 global currencies.
For more information about methods accepted on Mayzus, please refer to this link: https://www.mayzus.com/en/deposit-withdrawal.html

Mayzus FAQ:

Q: It’s great that deposits are fast, but what about withdrawals?
A: Withdrawals are coming with Mayzus, but not just yet. Phase One is enabling deposits, and Phase Two will be deeper integration with Mayzus that creates a better experience and allows for withdrawals as well.

Q: I’m in the United States. What about me?
A: We are not ignoring you. We have been working hard to improve the withdrawal process as well.

Q: How do we get started?
A: first you will need to have a verified account with Mayzus. If you don’t have one already you can create one here:  https://secure.moneypolo.com/registration

Once verified, you will be able to deposit within the “Funding Options” menu on the MtGox dashboard. Choose “Mayzus” from the drop-down menu and follow the simple steps.

3) Additional Note:

Don’t forget to secure your account with a one-time password solution such as Google Authenticator or the MtGox Yubikey or OTP Card solutions.
Look for more information in the security center when you login to your MtGox account.

Thank you again for your support,

*The Special Holiday Discount of 25 % will be applied for any trade issued from December 20th 2013 (00h00 GMT) to January 20th 2014 (23h59 GMT).

Regards
Mt.Gox Co. Ltd Team.

Mt.Gox Contact press@mtgox.com

There are now two goxes

Have you heard of turtle trading? Simplest trading system-- I think it goes, if up 20 days (or whatever in BTC), then buy, if 20 down, sell. Has very good followers and record. Funny.

The real take away for me was that entry point is wildly over-valued component (a coin flip might even return better odds), while the added components of setup, position sizing, risk management, expectancy, and exit are *all* required to actually avoid gambling and manage funds properly. We have a long way to go to have those tools available to us, laymen (albeit relatively smart ones), and I'm looking forward to that evolution.

I would love to see a bunch of coins dumped like that and see the market return to a fair price fueled by investor demand rather than speculation and games. If I could get a rock solid price like that which I could feel completely safe with, then I would hold my coins in codl storage and take a break from the exchanges and the charts.

this "can't buy groceries with bitcoin" shittalk is just sooo much crap ... who gives a fuck if you can't buy groceries with btc??

Right now the market wants to go up.

1. Buy
2. Store in a cold wallet
3. Carry on with living your life and forget about it for a year.

Stamp is going down, gox is sitting tight, china is going up. Wonderfully confusing.

In fact, dozens of people invested $130 or less in Nxt a few months ago and now own the equivalent of 6000 BTC.

My opinion is it will drop suddenly, or go up suddenly, or stay the same. I know this because of teh research.

A log trend line (more precisely: linear regression on log charted price history) is a nice little tool to get a feeling for where we are at any point in time compared to the historic trend, and where we're going to be, very very roughly, in a few months or a year from now.

[I know, I know I participated in the previous discussion of that idea. Didn't we conclude that the well known S shaped "tech adoption" curve would still be a straight line when mapped to log. Why does BTC deserve a "super S", if I may ask?

Errrm, nothing? Not super exponential growth at least, if that's what you mean.

And I honestly don't know what function would even look S like when mapped to log.

You composition actually makes the rate at which BTC increases dependent on the rate at which USD decreases. Was that what you had in mind?

[sarcasm]This means that we will eventually approach a singularity where the bitcoin price becomes infinite.  The only way for this to happen is for the USD to go to zero as well.[/sarcasm]

Harsh but true tho:

The average monthly salary in South America does not buy a single Bitcoin.
The average monthly salary in Africa does not buy 1/4 Bitcoin (and this is being good because of SouthAfrica significantly increasing the buying power).
The average monthly salary in India does not buy 1/10 Bitcoin.

Historically The $30 drop in 2011 up to reaching $30 in 2013 was the longest it took to reach the same price. Holding for 1 year should put you in good position. Someone correct me if I'm wrong.

False. Wall Street will jump on anything that can be pumped, especially if a bunch of silly derivatives can be attached to the underlying asset.

Get ready for a year of record breaking artificially high prices. 

If you look at volume in USD it's not anemic at all. It's substantially higher than during the post-silkroad-arrest runup in mid to late October 2013.

I'm not claiming we're in hyperdrive like November last year (this is yet to come), but to say this is some people who happen to have time during the holiday playing with the price at will is quite a stretch.

The volume ist not insubstantial.

Maybe about 60% red candles.

Keep hodling folks. This is Bitpay's problem only.

Is this something I don't have a clue what it is? Yup.
Please enlighten a fellow bit coiner who hasn't yet recover from the new year party.

the cert is just for *.twimg.com, though.

It seems I'm getting yet another one for that domain: Cybertrust Public SureServer SV CA

Tried even your plugin , seems ok for me.

EDIT: akamai is an organizational unit of twitter now?

These content delivery servers are all over the world. Maybe there's a reason for a large network of those to have certificates from different authorities and your ip range got switched to a different one or something.

When you think of it: Bitcoin is just as silly. The scarcity is artificial, just as with diamonds.

The imaginary economic growth thanks to controlled inflation is what brought us to the information age. Using a deflationary monetary unit worldwide will just bring humanity back to neo-feudalism with the bitcoin whales being even crueler than the current elite who are at least kept in check by politicians. I sincerely doubt that bitcoin or deflationary cryptocurrencies will replace fiat altogether, it will just remain a complementary niche market.

As do the articles we are still seeing which hate on bitcoin because it is a "Libertarian" effort -- which it is not. Bitcoin came first, Libertarians just see it as conveniently fitting their politics.

GHASH isn't going to sabotage their own reputation and profits -- the incentives just don't line up.

even if the obliviousness of speculators involved in cex.io really does result in a tragedy of the commons scenario, the returns are self-limiting. if they threaten the integrity of the whole project, no one profits, and the scheme collapses. i doubt bitcoin will be utterly destroyed, or even close, at this point, and so the worst that could happen would be a short period of blockchain instability that will be resolved after the panic dissolves the mining majority.

Did I miss something... what's this sell-off?

Hope Gavins bat phone is working.

I'll just say this. Based on the stereotypes of your misgivings, there is a lot for you to learn about Bitcoin. And if you study long enough your mind will probably change.

Ah, this is more like the good old days

Nothing like a flash crash to get the blood pumping.

That's what ineffective competition leads too. Some people are just bashing ghash for being too good.

Is the ghash directly from people using cex. Those fees are crazy.

At some point, if the current devs do not step up and resolve the issues important to the stability of Bitcoin, and the public perception thereof, they will find themselves out of a job.  Bitcoin only follows their actions so long as a consensus wishes to do so.  If more competent caretakers come through, we will shift to them.

thanks for the introduction, this is awsom, will BTCd be open, and do you know how further development will happen?
do you know if a client like Armory will work with BTCd?

Why the HELL someone with Petahash needs pool at all? They should have been mining solo since start.

also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem

I would NOT call any body stupid or their actions stupid b/c of religion

This is a nice read for those who do not grasp the issue of concentration of power into one mining pool.

http://hackingdistributed.com/2014/06/13/time-for-a-hard-bitcoin-fork/

Studies say otherwise. There has been a negative correlation between religion and IQ for the majority of test subjects.

I won't get tired of posting this: http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

Can you please explain why they are wrong?

To me it seems they make good points, but I am ready to learn more.

The guy has a history of spreading baseless bullshit to garner clicks. Just like the case of Professor Bitcorn, trolling Bitcoin seems to be good for an academic CV.

Is that like a worker at a diamond mine stealing a diamond that he dug out?

I presume that the destination address in the reward payoff transaction, at the start of the block, is specified by the pool, not chosen by the miner -- correct?

By the way, how does the pool make sure that each member is actually trying out all the nonces that he is supposed to try?

But how can the pool check that the submitted (failed) hash is correct for that nonce, without redoing the work? 

Most of those businesses did not adopt bitcoin at all.  They merely agreed to accept dollars from the sale of bitcoins that people already had

+1 Can't be said often enough.

Meanwhile, in the real world, everyone will ignore the IRS.  This is bad, because it is part of a pervasive and creeping contempt for rule of law.  In the end we all suffer for that.  The fix is to void all the ludicrous, often criminal in themselves, laws.  That would be roughly, let's see, one two three... all of them.

Under Stockman’s bill, “The Dog Ate My Tax Receipts Act,” taxpayers who do not provide documents requested by the IRS can claim one of the following reasons:

1.         The dog ate my tax receipts
2.         Convenient, unexplained, miscellaneous computer malfunction
3.         Traded documents for five terrorists
4.         Burned for warmth while lost in the Yukon
5.         Left on table in Hillary’s Book Room
6.         Received water damage in the trunk of Ted Kennedy’s car
7.         Forgot in gun case sold to Mexican drug lords
8.         Forced to recycle by municipal Green Czar
9.         Was short on toilet paper while camping
10.       At this point, what difference does it make?

Being a HODLER has many advantages like no need to submit yourself to exchange risks and no need to wreck your brain and invest time into deciding when to sell and when to buy back. The disadvantage however is that you may spend a lot of time underwater or lose your entire investment one day if Bitcoin fails. But these people don't care as it's either all or nothing for them, and that's also a perfectly valid strategy if you ask me.

Once recorded in the blockchain, that transaction is REAL

Short, are we?

I am NOT poo-pooing the idea of taking preventative measures.  In fact, I applaud the taking of various preventative measures, yet when push comes to shove, we may be in a situation in which you gotta produce something b/c your hostage taker knows too much.. and it may even be related to someone who knows you well leaking information about you (which is a likely scenario.. an ex-wife.. or a nephew or some other ptiot confident)

That's the kind of thing that I am thinking too, regarding the most feasible preventative measure... somehow to make yourself incapable of complying... but still to be able to have access to the funds in the event that you need them.. without having to trust others... A problem with multi-sig would be if you have to trust others or the others could gang up on you and take control over your coins.

speculation forum, where the crypto-wealthy hang out to discuss how to evade extortion.

Kinda feel the same way, this don't look real to me.  But hell, 7 solid months of a skittish, panicky bear market can begin to make even the most diehard bull feel pessimistic.  So what do I know.  

It may just be me but “I’m not at liberty to say why" implies something went wrong.

In 20 years, maybe.

Lol.  Thankfully this is virtually impossible.  But if you were right, I suppose you have no idea the sorts of war and chaos you are predicting.

USD could be greatly diminished, but sensible folks should hope this is a gentle transition.  As to the US being gone.  Woof.  That's just reckless and blind.

The reason is because money (or bitcoin, or gold) is not real wealth, it is only a token that society will accept and exchange for real wealth.  The exchange is so smooth and universal that, for personal or corporate finances, it is justifiable to treat money the same as wealth.  But when considering a whole nation, or the world, one must ignore the money and focus only on the real wealth.

No matter how much  money the government creates of derstroys, confiscates or gives away, the real weath of the country will not change.  Fiddling with the finacial system, the currency, and the money supply can only change the distribution of wealth among the citizens

I am compiling a list of resources for a person that is totally not up to date and does not get Bitcoin/Crypto currency

The person has a finance background, and a legal background- the person is not technically minded

I have list of resources , videos, text, articles and good places to get key data.

has anyone any works they suggest may be suitable for this gentleman to read ?  (I get the feeling he is more of a reader than a video watcher, plus I have some good videos already- though if you have any amazing links please do share)

I am almost ready to send what I have, but just thought I would ask here if anyone has any good primers to add to my list or rather than me writing it all out again.

The gentleman is a man with very deep pockets and a group of investors, I have meetings planned with the person in question to discuss starting
a Crypto/Bitcoin relegated company here in the UK -

I am looking for good text primers for a person new to crypto but that has a good finance background,  not too basic, not too full on   have you any suggestions that I can add to my ever growing list ?  I do not want to send him everything, I am looking to cherry pick.

Already had one meeting with the chap in question, and before the next one I would like him to do some reading, so he knows more about where
his money is going to be going, before the next rounds of meetings- as the guy is pretty much a crypto newbie.

Thank you in advance.

I would recommend you to look at better investment opportunities.
In my idea, the best way would be to invest in yourself. Obtain a needed skill, save up and start your own company. It isn't as easy as buying bitcoins, but it's A LOT more certain and you can have more control of your own wealth.
Because... what good is having control of bitcoin units, if you can't control the unit value? If you can't control bitcoin unit value, then you still can't control your wealth. With holding bitcoins, your wealth is just as much or even more out of your control, then holding your money in the bank. If you want to buy a commodity as an investment and stay in control, then buy something that's value isn't highly speculative. (golds value for instance is also highly speculative)

vol is fine, vol is more spread out than ever b4 with new exchanges coming online and stuff..

The difference is the 6 months of bear shit and goxxing and fud we've just had. This wasn't the case last time.
It was just good news and good news meant up.
In those 6 months people have been trained to dump on every news. It's hard to go up when people dumb in blind panic because of a press conference. Also lots of people who bought in at 700-1000 months ago and they want their money back. This is obviously something we didn't have before.

It does feel the same. There is just so much more stopping us from going up. And it sucks.
The people trying to make their money back i totally understand but those panic sellers...man.

I am fine with another plateau phase, followed by a big-ass bubble 

Not coins stolen

I am fascinated by Tim May's crypto-anarchy. Unlike the communities traditionally associated with the word "anarchy", in a crypto-anarchy the government is not temporarily destroyed but permanently forbidden and permanently unnecessary. It's a community where the threat of violence is impotent because violence is impossible, and violence is impossible because its participants cannot be linked to their true names or physical locations.

Until now it's not clear, even theoretically, how such a community could operate. A community is defined by the cooperation of its participants, and efficient cooperation requires a medium of exchange (money) and a way to enforce contracts. Traditionally these services have been provided by the government or government sponsored institutions and only to legal entities. In this article I describe a protocol by which these services can be provided to and by untraceable entities.

References

1.    W. Dai, "b-money," http://www.weidai.com/bmoney.txt, 1998. ↩

Anarchy on a larger scale often arises involuntarily after the collapse of a centralized government with a complex administrative infrastructure

My walrus says another 2 weeks tops, and we'll break $700.
 It could be much sooner though.........

Reminds me of the awful times in the realms of 450.

Everyone admonishes people to not borrow in order to buy bitcoins. The reality is that money is fungible: if you buy bitcoins instead of paying down your mortgage's principal, you are a leveraged bitcoin investor. Almost everyone is a leveraged bitcoin investor, because it makes economic sense (within reason). The cost of borrowing (annualized interest rates ranging from 0% to 25%) is lower than the expected return of owning bitcoins.

Maybe I'm going to look back in one year from now (or even 6 months)

Cool chart bro.

This means "no holding onto excess liquitdity (profits) in BTC". You will have to denominate all business profits in fiat, pay the man his cut for doing business in his state, and then do with your remaining fiat as you like. But the state of NY seems to say you can't just pocket the BTC like it is property (what the IRS thinks it is) and walk away to pay the taxes another day. Bad news there....