All posts made by pjviitas in Bitcointalk.org's Wall Observer thread
1.
Post 4441135 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.54h):
Thanks...I have been wondering what that graph is all about.
So steep walls mean that people aren't keeping up with the market for some reason = exciting.
And gentle walls mean that people are keeping up with the market = boring.
Correct me if I am wrong please.
2.
Post 4441159 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.54h):
I've been watching my country meltdown before my very eyes yet I'm unafraid.
Most of my friends and family won't listen to my warnings anymore but I don't care.
In the face of what will probably be the biggest calamity to EVER hit the United States I remain calm.
I have BitCoin.
"Yeah though I walk through the valley of Political and Banker Oppression, I fear no Q.E. because BitCoin is the baddest M*ther F*cker on the Planet".
LOL!!! Cool
3.
Post 4441173 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.54h):
This Mars One thing looks like a scam. No WAY a private, crowd/reality tv show funded, company puts anyone on Mars ever.
Its a one way death trip...won't survive the radiation once they leave the earths protective field.
4.
Post 4602950 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.57h):
Perhaps because Dogecoin is what Bitcoin should have been?
There are a number of economic reasons that make me skeptical about Bitcoin's chances of success. But there is one reason that makes me wary of it: the fact that its is being "marketed" more as an investment than a payment system.
Here is what a true Bitcoin believer, pure of heart, should be saying:
* Our goal is cheap, easy, unrestricted international payments;
* We will succeed if everybody uses uses crypto, we will fail if no one uses it;
* Other cryptocoins are welcome and we hope they prosper.
* Our hope is that SOME crypto will succeed; it doesn't have to be Bitcoin.
* We do not know how much a Bitcoin will be worth, and it does not matter.
* However, the value of a cryptocoin should be as stable as the dollar's value is now.
* The sooner the price stabilizes, the better.
* Hoarding or speculating with cryptocoins is evil as it defeats those goals.
* Large cryptocoin-based financial institutions are just as evil as dollar-based ones.
* Our priority is to convince merchants to accept crypto as payment method.
* People should change dollars for crypto only if and when it is is clearly worth it.
Instead, here is what Bitcoin enthusiasts seem to be saying, here and in other forums:
* Our goal is to get rich.
* We will succeed if Bitcoin's value rises to the Moon, fail if it goes down to cents.
* Other cryptocoins are unwelcome competition and we must speak out against them.
* Our hope is that BITCOIN succeeds, we will be mad if some other crypto crushes it.
* One Bitcoin must be, and surely will be, worth at least 1000 USD.
* The price should keep rising in the long run so that Bitcoin hoarders can have a steady income.
* Large price oscillations are good now because one can make money or grab more Bitcoins.
* Hoarding and speculating with Bitcoins is what the thing is all about.
* Large cryptocoin-based institutions are welcome because they will want to push the price up.
* Our priority is to convince everybody to change all their dollars for Bitcoins and hold them fast.
* People should pay for things and services with Bitcoins even if it is not worth it.
That unfortunatey is the mindset that fuels bubbles and Ponzi schemes...
This is what your post tells me:
- You haven't read Satoshi's White Paper.
- You base your understanding of the 'goals' of Bitcoin, and its many and diverse users, on recent headlines and the Speculation forum of this site.
- You haven't spent much time on the Dogecoin thread or subReddit.
- Something about the price rise, and the fact that people have - and continue - to profit from it, annoys you.
"People should change dollars for crypto only if and when it is is clearly worth it."How do you expect this ^^ to ever come true if people aren't willing to speculate? Someone has to take the chance. When is it
clearly worth it? If you're looking for signals, maybe it's clearly worth it when it can go from a few dollars to 1,000 in a year?
Actually, why am I arguing here.... You're someone who comes to the "Wall Observer" in the Bitcoin speculation forum to complain that people are treating Bitcoin as a speculation vehicle, and then suggests that Doge is somehow immune the whims of traders and their pump and dump evils.
You missed a bunch of stuff about what Bitcoin should be so I will just address your concerns about what is wrong with Bitcoin:
* Our goal is to get rich.
Someone will make some money off Bitcoin why not me.
* We will succeed if Bitcoin's value rises to the Moon, fail if it goes down to cents.
Speculator talk
* Other cryptocoins are unwelcome competition and we must speak out against them.
Completely false - Other cryptos may one day be what save decentralized currency
* Our hope is that BITCOIN succeeds, we will be mad if some other crypto crushes it.
Completely false
* One Bitcoin must be, and surely will be, worth at least 1000 USD.
Completely false - Alot of people want to see it go down to nothing again...shake off the chaff
* The price should keep rising in the long run so that Bitcoin hoarders can have a steady income.
Doesn't make sense...how can hoarders that don't use or sell their Bitcoin have a steady income off it?
* Large price oscillations are good now because one can make money or grab more Bitcoins.
Someone will make some money off Bitcoin why not me.
* Hoarding and speculating with Bitcoins is what the thing is all about.
Doesn't deserve a response.
* Large cryptocoin-based institutions are welcome because they will want to push the price up.
Depends what you mean by "Large cryptocoin-based institutions"? If you mean for accepting Bitcoin as payment then how does that hurt anything. If you mean large centralized mining facilities then that is a bad thing.
* Our priority is to convince everybody to change all their dollars for Bitcoins and hold them fast.
Completely false - Alot of people struggle with getting enough Bitcoin to spend not hold
* People should pay for things and services with Bitcoins even if it is not worth it.
If I live in Canada and you live in China and you are offering to sell me something there is no legal requirement forcing you to accept a particular form of currency. If you choose to accept Bitcoin then I need to comply with your wish or go to a different vendor. Everyone seems to forget that beyond its borders, every form of currency is foreign currency.
5.
Post 4603829 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.57h):
* Hoarding and speculating with Bitcoins is what the thing is all about.
Doesn't deserve a response.
I think it does. Obviously this is not what bitcoin is "all about". But it is a very important part of it, imo. Without hoarding and speculating we would never see these huge swings in price. These prices grab attention and bring more people onboard, furthering its path towards a legitimate currency. How much extra press did we get as a result of hitting 1000 last year? Where would we be without the epic turn of events that led us there? (thanks, loaded!)
Obviously this volatility isn't good in the long run, but it's just the way things have to be right now. As bitcoin grows, volatility will go down. There is already evidence of this.
Typical response on a speculator sub-forum...anything less would be uncivilized.
6.
Post 4608077 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.57h):
When people announce "X accepts bitcoin! Pmg!" does this usually just mean that they have started using bitpay? Because if that's all that happens, we are effectively just making the world's largest middle man, not too different from say....PAYPAL.
My question being: Do any of these merchants actually KEEP the fucking btc?
not a significant number, no. that is a good thing.
currency is rather different from hard goods. its value is not derived from stock levels, but from flow. no flow, no value. long term holders don't care much about the price, which is a temporary condition resulting from instantaneous supply and demand. they care more about value, which is a long term attractor of price, and determines the
sustainable price levels.
Bitpay..Paypal...blah blah blah...they are all just banks that offer a currency exchange service. I mean many times a currency exchange also offers banking services. Get an account at one of the Bitcoin exchanges and you will find that out real quick.
I think that what this kind of news really shows is how the currency exchanges out there have been making a $%^&#$% killing on planet wide currency transactions.
So there is really nothing new here...if you want to move currency from one form to another be prepared to pay.
Regarding "X accepting bitcoin" what they hold has more to do with who their bank is more than anything. When 51% of their transactions end up being in Bitcoin, be prepared for some of these "X's" to cut out the banks and the exchanges...hire some bank and exchange peeps of their own...and be their own bank...just like the rest of us Bitcoin holders.
7.
Post 4612509 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_11.57h):
I miss volume
Just need a couple of whales to set us on track to 1k!
Don't fool yourself. Around 950 the first people start dumping and around 970 the sheep will completely panic and sell till we're back at 900. At least that is most likely to happen.
We for sure got there quicker than i expected. And i also hope i was totally wrong. I think everybody is getting tired of seeing 900.
I definitely am. I'd like to see $500.
Huh? Why?
To buy more coins because I barely have any.
Some of us speculate just to be able to buy coins for spending...not trading
8.
Post 4789374 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.00h):
That's the sound of the Bears, slowly going back to their cages and closing the door.
Are there any non extremist on this thread? We fall $100, then we bounce back up a little and thats the sound of bears going back to their cages? LOL
Everyone is either screaming single digits or CCMF, without a sound piece of evidence (or a clue what is going on).
I come over here from the stogy old mining subforums when I'm bored...way more entertaining over here.
9.
Post 4811115 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.00h):
15 Days Remain!!
for what?
The 37 day cycle on Stamp
whats that?
October 23 -► November 29 -► January 5 -► ?
what is the 37 day cycle?
10.
Post 4811124 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.00h):
Can someone explain to me what's so special about that 920 number on Gox. No matter what it just has to go back to 920. Every single time. If we go up people will start selling till we are back at 920. Why?
Japanese version of 420?
11.
Post 4819686 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.00h):
anyone log into virtex today??
i log in i see the picture and i'm like
I'm there now...what picture?
12.
Post 4830943 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.01h):
i've been selling coins.
risk management....
but i still very bullish on the future.
Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries
Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?
if aliens want to do business on earth they will have to buy bitcoin
bitcoin upper bound is like 5-10million pre coin.
You forgot about: Anyone in bitcoin a few years ago is rich now unless of course they spent it on hookers and blow.
13.
Post 4831426 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.01h):
Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,
But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.
Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.
The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.
I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it so that they can maintain their monopoly on the money laundering business.
What do you think?
the hearing made me feel like the US was going for a minimalist approach to regulation, the chairman seemed very pro bitcoin.... I don't think they are going to regulate the shit out of it. they keep saying that they want to have enough regulation to feel comfortable and at the same time not stifle bitcoin's potential. If i was a conspiracy theorist i'd say bitcoin is the new illuminati money, and government agents are in on it. but i'm not going to go there.
Your probably bang on...fiat will be for the masses.
14.
Post 4831969 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.01h):
no...
like i said i could not afford to lose very much at all.
and i sodl alot in the 20's .....
you and me both.
you and me threeth. I pulled my csv's from virtex and ran them through a spreadsheet after the 266 bump, my average sell price was $17 dollars. I'm sure my average price has gone up a bit since then, but sometimes it sickens me to think how many of these things I let slip through my fingers.
Right there with you guys. June 2012 I had about 20 coin... By the time of the April rise I had almost none. Did it again with the latest rise. I had a few coin from selling some stuff in summer, used it on general expenses, groceries, etc... Nothing left now except the little I mine.
Is there a thread somewhere dedicated to these kinds of stories?
15.
Post 4868992 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.02h):
wtf, i give up,
catcoins are specially designed for cat lovers, therefore all cat lovers will save catcoins for their cat related expenses. if you have cat related expenses, consider buying some catcoin. if you have dog related expenses buy dogecoin.
its that simple poeple!
Hhhhmmm....
So, avicoin for birdlovers and their birdseed expenses?
Why stop there?
Meatcoin for your BBQ expenses.
Bleachcoin for cleaning product expenses.
Femcoin for feminine hygiene product expenses.
Limpcoin for impotence product expenses.
Where will it end? What was it about the production line being influenced by specificity?
Its the future...get used to it.
http://coinmarketcap.com/
16.
Post 4988292 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.03h):
Thank $DIETY! I've been waiting for some coin to go on sale!
damn...I wish I had some fiat
17.
Post 4988499 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.03h):
the most fiat I can scrape together is $1000.
If I deposit into my exchange account I won't be able to buy BTC for 3 days.
If I hold it and BTC goes stupid low within the next 3 days, I can zoom into Vancouver and use the ATM
Decisions, Decisions.
18.
Post 4989677 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.03h):
Damn...no fiat in my exchange account
19.
Post 5046951 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.05h):
Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?
Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?
Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?
20.
Post 5047494 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.05h):
Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?
Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?
Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?
Everybody at least needs one crazy friend. You are my crazy friend.
http://z0r.de/631lol...I like you...your funny.
21.
Post 5047936 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.05h):
12:42PM in Tokyo Japan Mtgox headquarters.
Mark found some coins!!! but will it be enough???!!!
this guy made a crap load of money...what does he care.
22.
Post 5064496 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.06h):
Anyone checking out the buy wall at GOX?
23.
Post 5111139 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.07h):
consumers will be made to pay at the pump (charging station). Guaranteed.
Of course, except now one's pump can be at home. After materials it is free-ish. I suppose it's only fair to include the cost to replace batteries (if used), panels, etc. in one's own solar charger at whatever interval required. This is the "ish" part. Maybe $2000 every 20 years...? $100 a year?
By comparison it is a rare individual who has his own oil rig and gas refinery in his backyard producing free-ish energy for himself.
I think that there may be something to this.
In order to get people interested in something it doesn't need to be free...it just needs to have an element of free.
Bitcoin mining is a classic case study of this type of human behavior
24.
Post 5121139 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.07h):
To your other points, what will a superior crypto have that Bitcoin lacks?
Are privatized money systems based on trust?
Superior crypto would need a better system for creating new coins, since proof-of-work is not a smart way to create coins. The increase of miners should increase the security of network, and therefor give more value to BTC, but because the miners are pooled together, there is no increase in security. So resources are spent without any new gain. I think that Proof-of-Stake is more advanced, but I don't know any proof-of-stake coin that can hold on it's own. But I do bet that there will be a new wave of better quality coins. What we would need is an software company with experience and financial backing to create a coin. As long as coins are created by students or hobbyists, we won't see any serious competition to BTC.
Of course, money is always based on trust. Trust that you can use money to trade value without any unnecessary loss.
I think that bitcoin won't lose it's trust because of the flaws in software code, but it will lose faith because of the flawed market system. When there are no consequences to create a "scam exchange" that can play the competent exchange role for a year, just to gain trust, and then to run away with their customers money, then the market system is far from being secure. Most bitcoin enthusiasts are religious on the subject, and they actually believe that the market will be fine, since everyone has faith in the future of bitcoin and won't start "scam exchanges" because they can get more profit with legal methods.
But there are people out there who can see Bitcoin just as an temporal phenomenon and those people are motivated to build an exchange just to run away with their customers money. And they can actually do this without "running away", because they can just blame it on being a victim of hacking, lost database or whatever, and they won't see any jailtime.
There would be nothing wrong with proof-of-work as long as all the lazy speculators out there got off their ass and started to help out and do some mining.
That's the big problem with this world...what can everyone else do for me...me me me me me.
25.
Post 5121156 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.07h):
Basically the only way to convert Yuan to/from Bitcoin now is through a Chinese bank. Both the bank and the exchange will want your ID.
What do you mean exactly by "evading capital controls and State restrictions"?
There are many miners in China. The Chinese could buy or trade from them even if all the exchanges closed.
How many coins are being mined these days? At the price they would fetch outside China, would they be enough for significant evasion?
I don't think that those coins would be easy or safe to get. How would the evaders contact the miners and pay them? Big miners have large installations and huge electricity bills, they cannot easily hide from the government.
If you don't understand how black markets work, that's a separate issue, but there will always be black markets were there are willing buyers and sellers of prohibited goods and services. Did prohibition stop alcohol consumption? War on drugs stop weed smoking? Nobody uses prostitutes or gambles where it's forbidden? Technology that aids smugglers, contraband sellers and other free marketeers will always be in demand. Even the hypocritical State functionaries will use it.
++1
26.
Post 5132113 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.08h):
I haven't heard " To da moon" in awhile....kind of strange.
27.
Post 5132150 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.08h):
So if GOX didn't do anything wrong then why does it look like they will be insolvent soon?
I think there is something more to this than just a simple coding error.
28.
Post 5154463 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.09h):
So where is the bottom in this market?
I get the funny feeling it won't be until GOX dies
29.
Post 5154813 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.09h):
So where is the bottom in this market?
I get the funny feeling it won't be until GOX dies
The bottom is in. The lows from here on out will be higher than previous lows, but we're not going up substantially either. Not for a while unless something major happens.
so do you actually think gox is going to survive this?
30.
Post 5154997 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.09h):
So where is the bottom in this market?
I get the funny feeling it won't be until GOX dies
The bottom is in. The lows from here on out will be higher than previous lows, but we're not going up substantially either. Not for a while unless something major happens.
so do you actually think gox is going to survive this?
I just finished skimming over some of the news feeds on Bitcoin and I can't see this market bottoming out for awile yet.
It's like the whole world hates Bitcoin right now...we very well may see double digit bitcoins again.
31.
Post 5160570 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
My god, I'm starting to want the price to go up just so we can see the back of these stupid doom trolls more than anything else.
I doubt that will get rid of them. It hasn't any other time. Their envy is palpable. Their presence is the price of our success.
They always seem to come out more when the price is down by any amount for any amount of time for any reason. They just sound ridiculous when prices are on the way up so they shut up.
I don't mind a good bear. I even find myself agreeing with some of them short-term on occasion and take some good-natured ribbing in good spirits. It's just the incessant bleating gets tiresome (and I know that that is the desired effect so this isn't meant for their ears, just a general grouse). I still have no one on my ignore list but it gets tempting sometimes.
No-one knows the future.
In the traditional sense both bulls and bears are looking for profits, just over different timescales, so I often find this bulls/bears polarisation both misleading and unhelpful.
The only thing for certain is that BTC needs wider adoption and therefore newcomers should be welcomed. If they don't share your personal optimism then this is the perfect opportunity to communicate the strengths of BTC.
You can't argue that the poster is correct in that the mainstream media is very 'down' on BTC at present and the perception is that the fundamentals have taken a knock. It's going to be a rocky few weeks/months IMHO and although BTC is extremely resilient, it will only succeed by its supporters being positive and engaging its critics, not simply taking refuge in a static point of view or being personally aggressive.
+1
32.
Post 5162392 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
ok, here's a hypothesis I haven't seen before: Mark is not intentionally manipulating anything and not profiting from Gox's troubles. Instead, he's just a bad manager and it's one or more of his underlings who are exploiting their inside knowledge and/or influence without his knowledge or consent. Whaddya think?
The guy's a programmer and obviously not a "people" person.
I think he didn't realize that the margins for a Bitcoin exchange are different than for a fiat exchange.
Unlike fiat if you run out of Bitcoin you can't just go get more at a fixed price. Buying more Bitcoin is going to drive the price up which now makes it difficult to pay out in fiat.
I think that GOX had a monetary masturbation scheme going on and it got exposed for what it was...a classic Ponzi.
Just because Bitcoing is not a Ponzi scheme doesn't mean that an exchange can't be...wherever there is fiat there can be a Ponzi scheme.
That's why the sooner GOX dies and goes away the better it will be.
This event is so much more damaging than everyone knows. All the finger pointers and tongue wagers out there will be saying "I told you so...Bitcoin and Ponzi schemes are not mutually exclusive"
33.
Post 5163189 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
What would it take for you to admit you're wrong about Bitcoin, Jorge? What set of conditions? What would have to happen?
For starters, bitcoiners would have to find a way to get rid of all altcoins, present and future. Including AppleCoin, WellsFargoCoin, WalmartCoin, ...
Perhaps they can find corrupt congressmen that will accept bribes in bitcoin and pass laws criminalizing the use of other coins?
LOL. So we would have to prevent something that doesn't exist yet? How do you know we haven't already done the through the magic of "market incentives"? If those corpcoins were truly decentralized, distributed and peer-to-peer, they would convey no advantage. To the extent they would convey advantage, they would be to that extent less popular. Which may be why you don't see any.
So I would have to wait an infinite amount of time for you to admit you were wrong?
As for present alt-coins, why do they make you doubt Bitcoin? Success always has imitators.
Altcoins are the safety net for crypto-currencies.
When some idiot tries to corner the market on Bitcoin simply trade into an altcoin.
Crypto-currencies are not all about Bitcoin.
34.
Post 5163471 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
This makes NO sense. Something here is fishy. I have been mystified for days. To me it gox should be
bullish. You can get money in, you can buy crazy cheap coins, you will be able to get them out again soon. (they're not fucking insolvent, Mark would be found and murdered straight away.)
Meanwhile, stamp is double the price?? At first I thought the "malleability issue" was a joke and entirely the fault of gox's poor heigene, then the other exchanges followed suit, and silk road 2. So if this is a legit issue with btc itself, and we are capable of understanding that that doesn't really matter as the protocol can and will be changed whenever it is required by enough of us, the only reason for the doom and gloom is....people just don't like gox, but the reason for that should be because of the FIAT withdrawal problem which they have had for months and months, yet it DOESN'T SEEM TO BE.
Where there is fiat there is ponzi
35.
Post 5163513 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
The sooner the Gox disappears up its own ass, the better for everyone.
+1
36.
Post 5163783 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
If gox withdrawls are enabled, I'd go all in btc (actually, sooner) and transfer immediatly to stamp. Then i'd cash out. Gox price will rise, stamp price will collapse and we'll be back to pre-btc withdrawl problems with gox 100$ above stamp.
Imagine buying 330$ btcs and selling half of them for 650 a minute later.
+1
There is no easy way out of this one.
GOX needs to die and let the other exchanges pick up the pieces and move on.
37.
Post 5163898 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
That would have to be quite a conspiracy. That would suggest Mark or somebody could do this without someone else in the company finding out or that the whole company is in on it.
I doubt that more than 3 people at MtGOX know how many bitcoins they have in their own wallets and how many dollars/yen they have in their bank.
In the classical collapses, like Enron's and Madoff's, very few people in the company were aware of the real situation, and they were all cooperating with the wrongdoings out of self-interest (or because they were chosen precisely for their "moral qualities").
In any case, that robot could be operated by one person inside MtGOX without anyone else knowing. Or by an external accomplice.
But let's assume that's true. First they drove the price higher presumably to get more fiat and then are now driving it lower to get more coins, right?
I would say the opposite: first they kept the price up 10% above market to lure people into depositing their real bitcoins in exchange for gox dollars (virtual dollars in MtGOX's internal client accounts); while stalling on dollar withdrawals (the conversion of gox dollars into real dollars). The high price also discouraged people from changing their gox dollars into gox bitcoins (virtual bitcoins in MtGOX's internal client accounds) and withdraing them (that is, converting them to real bitcoins).
When GOX clients began to realize that dollar withdrawals weren't working, they tried to use the bitcoin route in spite of the 10% loss. Then at first MtGOX raised the premium to 20%, and also began to stall on bitcoin withdrawals -- thanks to a providential "malelability bug" that stalled 40,000 bitcoins over several month, but which they somehow could not figure out in all that time.
But those measures did not stop the outflow, so they just suspended all withdrawals and promised that by Monday they may provide an estimate of when they may promise something.
What is happening now, it seems, is clients converting their virtual GOX coins to virtual GOX dollars at ~40% loss, presumably because they think that if they keep the virtual coins they may lose more than 40% in the end.
I wonder who is buying those coins. Could be clients who are slightly (only slightly) more optimistic about the chances of future bitcoin withdrawals. Could be MtGOX itself, trying to reduce the amount it owes to its captive victims.
Why not just operate as a fractional reserve? Some technical reason?
For a bank, fractional banking means to loan out or invest more money than its customers have deposited in their accounts. That is a gamble, based on the hope that only a fraction of the customers will ever want to take out their money at the same time. Sometimes a bank bank loses the gamble (and then clients usually lose some of their money).
A simple exchange like MtGOX should not be doing any fractional banking, since it is not in the business of lending or investing, whwther money or bicoins. However, its management would have been strongly tempted to invest most of the real bitcoins that clients had deposited to earn interest on them; trusting that only a few clients would want to withdraw them at any time. If MtGOX did that, perhaps they made a bad investment, or perhaps they sold the bitcoins when the price was 100$, and now that it is 600$ they may not have enough assets to buy all of them back.
This will be an interesting story if we ever find out the truth.
For sure!
+1
38.
Post 5166149 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
8k btc just disappeared off gox asks.
It seems like SR2.0 /MTGox coins are finally arriving on Bitstamp. 100
BTC asks get added one after another.
I´m not sure about Mt.Gox coins. But if you look at the orderbook, those 100
BTCasks get refilled all the time.
Someone with huge pockets full of BTC is actin(sellin).
There is also the possibilty that someone is buyin his own asks,to unleash some bullish sentiment, cause it looks quite unnatural.
No trading at all , just those 100
BTC buys in one bite.
As far as we know there are quite a lot of stolen coins out there, just think about those 100k sheepmarketplace coins.
It takes time to convert these into USD. With that amount of coins you can play the market in every direction.
Actually, I know how GOX can get out of this...make a crypto-currency called GOX coin
39.
Post 5167296 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
They obviously and naturally do not want to be prosecuted for fraud.
Other exchanges will probably follow with similar warnings.
I wonder if this move was inspired by explicit legal threats, against Bitstamp or elesewhere.
It was inspired by exchanges going like "holy fuck...you mean being a bitcoin exchange is different than being a fiat exchange?"
40.
Post 5170865 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
are you sure it's good news? the problem with the malleability is still there to be abused.
I don't think you understand that problem.
Now the exchanges have all updated their custom wallets to work the way they should have worked there's no major problems facing Bitcoin. Some exchanges e.g. Kraken were not directly affected the whole time.
what? I think you have read too much GA propaganda.
just because gox withdraws were to do with overly modified source... does not mean jack shit, the malleability issue still exists as a way of manipulation of the chain no matter how small, no matter if overall balances are not effected , bitcoin still has an issue.
I have seen these issues when testing hard forks with coins I have been working on.
Saying that malleability is an issue is no different than saying that buggy code is an issue. It's an issue if you let it become an issue.
There is a million ways to fuck something up no matter how many rules you put into place. Besides, at what point do rules become something that are meant to be broken.
The simple fact is that GOX either mistakenly or purposely ran buggy code that allowed some people to get rich at the expense of some unlucky bag-holders.
Instead of talking about malleability issues people should be asking where the fuck is my money period.
41.
Post 5171255 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Saying that malleability is an issue is no different than saying that buggy code is an issue. It's an issue if you let it become an issue.
There is a million ways to fuck something up no matter how many rules you put into place. Besides, at what point do rules become something that are meant to be broken.
The simple fact is that GOX either mistakenly or purposely ran buggy code that allowed some people to get rich at the expense of some unlucky bag-holders.
Instead of talking about malleability issues people should be asking where the fuck is my money period.
A minor nit but transaction malleability was not a bug; it was a documented yet debatably undesirable feature of the Bitcoin design. I can't really argue with the rest of it.
Anyone that has written software knows that there can be a fine line between bugs and features. It all comes down to whether you let it exist or not.
42.
Post 5171323 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
If it results in the loss of hundreds of millions in market value I'm going with "bug".
How about a feature that was exploited in order to make someone rich?
43.
Post 5172019 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
If it results in the loss of hundreds of millions in market value I'm going with "bug".
It is fair to say that several exchanges - most notably Gox of course - were tracking transactions in a way that was inherently unsafe.
That, in combination with poor communication about a complex situation to the market, is what resulted in the losses.
I am aware of the distinction. However from a consumer point of view it matters not whether the fault lies in the protocol or the wallet implementation. The consumer lost their investment due to exchange insolvency due to something happening which should not have happened. That's a bug.
"should not" is a big phrase in the Bitcoin world.
How about this one...the mint "should not" print money that the government issued an IOU to the treasury for...but it does so anyway. This is a bug that is being exploited as a feature!
44.
Post 5172480 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Has a Bitcoin exchange ever failed before?
Or has a fiat exchange ever failed before?
45.
Post 5172533 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Exchange Origin Dates Active Daily vol. Closed? Breached? Repaid? AML Risk Ratio
BitcoinMarket US 4/10 – 6/11 2454 yes yes – 34.3 1.12
Bitomat PL 4/11 – 8/11 758 yes yes yes 21.7 1.28
FreshBTC PL 8/11 – 9/11 3 yes no – 21.7 2.01
Bitcoin7 US/BG 6/11 – 10/11 528 yes yes no 33.3 1.59
ExchangeBitCoins.com US 6/11 – 10/11 551 yes no – 34.3 0.65
Bitchange.pl PL 8/11 – 10/11 380 yes no – 21.7 0.61
Brasil Bitcoin Market BR 9/11 – 11/11 0 yes no – 24.3 3.85
Aqoin ES 9/11 – 11/11 11 yes no – 30.7 1.57
Global Bitcoin Exchange ? 9/11 – 1/12 14 yes no – 27.9 1.45
Bitcoin2Cash US 4/11 - 1/12 18 yes no – 34.3 1.47
TradeHill US 6/11 - 2/12 5082 yes yes yes 34.3 0.94
World Bitcoin Exchange AU 8/11 – 2/12 220 yes yes no 25.7 1.80
Ruxum US 6/11 – 4/12 37 yes no yes 34.3 1.24
btctree US/CN 5/12 – 7/12 75 yes no yes 29.2 0.98
btcex.com RU 9/10 – 7/12 528 yes no no 27.7 0.61
IMCEX.com SC 7/11 – 10/12 2 yes no – 11.9 1.88
Crypto X Change AU 11/11 – 11/12 874 yes no – 25.7 0.53
Bitmarket.eu PL 4/11 – 12/12 33 yes no no 21.7 1.09
bitNZ NZ 9/11 – pres. 27 no no – 21.3 1.14
ICBIT Stock Exchange SE 3/12 – pres. 3 no no – 27.0 2.15
WeExchange US/AU 10/11 – pres. 2 no no – 30.0 2.23
Vircurex US? 12/11 – pres. 6 no yes – 27.9 4.41
btc-e.com BG 8/11 – pres. 2604 no yes yes 32.3 1.08
Mercado Bitcoin BR 7/11 – pres. 67 no no – 24.3 0.95
Canadian Virtual Exchange CA 6/11 – pres. 832 no no – 25.0 0.53
btcchina.com CN 6/11 – pres. 473 no no – 24.0 0.60
bitcoin-24.com DE 5/12 – pres. 924 no no – 26.0 0.52
VirWox DE 4/11 – pres. 1668 no no – 26.0 0.45
Bitcoin.de DE 8/11 – pres. 1204 no no – 26.0 0.49
Bitcoin Central FR 1/11 – pres. 118 no no – 31.7 0.91
Mt. Gox JP 7/10 – pres. 43230 no yes yes 22.7 0.49
Bitcurex PL 7/12 – pres. 157 no no – 21.7 0.76
Kapiton SE 4/12 – pres. 160 no no – 27.0 0.80
bitstamp SL 9/11 – pres. 1274 no no – 35.3 0.54
InterSango UK 7/11 – pres. 2741 no no – 35.3 0.45
Bitfloor US 5/12 – pres. 816 no yes no 34.3 1.45
Camp BX US 7/11 – pres. 622 no no – 34.3 0.63
The Rock Trading Company US 6/11 – pres. 52 no no – 34.3 1.14
bitme US 7/12 – pres. 77 no no – 34.3 1.04
FYB-SG SG 1/13 – pres. 3 no no – 33.7 2.23
46.
Post 5172666 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Exchange Origin Dates Activ Daily vo Closed? Breached? Repaid? AML Risk Ratio
BitcoinMarket US 4/10–6/11 2454 yes yes – 34.3 1.12
Bitomat PL 4/11–8/11 758 yes yes yes 21.7 1.28
FreshBTC PL 8/11–9/11 3 yes no – 21.7 2.01
Bitcoin7 US/BG 6/11–10/11 528 yes yes no 33.3 1.59
ExchangeBitCoins.com US 6/11–10/11 551 yes no – 34.3 0.65
Bitchange.pl PL 8/11–10/11 380 yes no – 21.7 0.61
Brasil Bitcoin Market BR 9/11–11/11 0 yes no – 24.3 3.85
Aqoin ES 9/11–11/11 11 yes no – 30.7 1.57
Global Bitcoin Exchange ? 9/11–1/12 14 yes no – 27.9 1.45
Bitcoin2Cash US 4/11-1/12 18 yes no – 34.3 1.47
TradeHill US 6/11-2/12 5082 yes yes yes 34.3 0.94
World Bitcoin Exchange AU 8/11–2/12 220 yes yes no 25.7 1.8
Ruxum US 6/11–4/12 37 yes no yes 34.3 1.24
btctree US/CN 5/12–7/12 75 yes no yes 29.2 0.98
btcex.com RU 9/10–7/12 528 yes no no 27.7 0.61
IMCEX.com SC 7/11–10/12 2 yes no – 11.9 1.88
Crypto X Change AU 11/11–11/12 874 yes no – 25.7 0.53
Bitmarket.eu PL 4/11–12/12 33 yes no no 21.7 1.09
bitNZ NZ 9/11–pres. 27 no no – 21.3 1.14
ICBIT Stock Exchange SE 3/12–pres. 3 no no – 27 2.15
WeExchange US/AU 10/11–pres. 2 no no – 30 2.23
Vircurex US? 12/11–pres. 6 no yes – 27.9 4.41
btc-e.com BG 8/11–pres. 2604 no yes yes 32.3 1.08
Mercado Bitcoin BR 7/11–pres. 67 no no – 24.3 0.95
Canadian Virtual Exchan CA 6/11–pres. 832 no no – 25 0.53
btcchina.com CN 6/11–pres. 473 no no – 24 0.6
bitcoin-24.com DE 5/12–pres. 924 no no – 26 0.52
VirWox DE 4/11–pres. 1668 no no – 26 0.45
Bitcoin.de DE 8/11–pres. 1204 no no – 26 0.49
Bitcoin Central FR 1/11–pres. 118 no no – 31.7 0.91
Mt. Gox JP 7/10–pres. 43230 no yes yes 22.7 0.49
Bitcurex PL 7/12–pres. 157 no no – 21.7 0.76
Kapiton SE 4/12–pres. 160 no no – 27 0.8
bitstamp SL 9/11–pres. 1274 no no – 35.3 0.54
InterSango UK 7/11–pres. 2741 no no – 35.3 0.45
Bitfloor US 5/12–pres. 816 no yes no 34.3 1.45
Camp BX US 7/11–pres. 622 no no – 34.3 0.63
The Rock Trading Compan US 6/11–pres. 52 no no – 34.3 1.14
bitme US 7/12–pres. 77 no no – 34.3 1.04
FYB-SG SG 1/13–pres. 3 no no – 33.7 2.23
47.
Post 5172684 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Exchange Origin Dates Activ Daily vo Closed? Breached? Repaid? AML Risk Ratio
BitcoinMarket US 4/10–6/11 2454 yes yes – 34.3 1.12
Bitomat PL 4/11–8/11 758 yes yes yes 21.7 1.28
FreshBTC PL 8/11–9/11 3 yes no – 21.7 2.01
Bitcoin7 US/BG 6/11–10/11 528 yes yes no 33.3 1.59
ExchangeBitCoins.com US 6/11–10/11 551 yes no – 34.3 0.65
Bitchange.pl PL 8/11–10/11 380 yes no – 21.7 0.61
Brasil Bitcoin Market BR 9/11–11/11 0 yes no – 24.3 3.85
Aqoin ES 9/11–11/11 11 yes no – 30.7 1.57
Global Bitcoin Exchange ? 9/11–1/12 14 yes no – 27.9 1.45
Bitcoin2Cash US 4/11-1/12 18 yes no – 34.3 1.47
TradeHill US 6/11-2/12 5082 yes yes yes 34.3 0.94
World Bitcoin Exchange AU 8/11–2/12 220 yes yes no 25.7 1.8
Ruxum US 6/11–4/12 37 yes no yes 34.3 1.24
btctree US/CN 5/12–7/12 75 yes no yes 29.2 0.98
btcex.com RU 9/10–7/12 528 yes no no 27.7 0.61
IMCEX.com SC 7/11–10/12 2 yes no – 11.9 1.88
Crypto X Change AU 11/11–11/12 874 yes no – 25.7 0.53
Bitmarket.eu PL 4/11–12/12 33 yes no no 21.7 1.09
bitNZ NZ 9/11–pres. 27 no no – 21.3 1.14
ICBIT Stock Exchange SE 3/12–pres. 3 no no – 27 2.15
WeExchange US/AU 10/11–pres. 2 no no – 30 2.23
Vircurex US? 12/11–pres. 6 no yes – 27.9 4.41
btc-e.com BG 8/11–pres. 2604 no yes yes 32.3 1.08
Mercado Bitcoin BR 7/11–pres. 67 no no – 24.3 0.95
Canadian Virtual Exchan CA 6/11–pres. 832 no no – 25 0.53
btcchina.com CN 6/11–pres. 473 no no – 24 0.6
bitcoin-24.com DE 5/12–pres. 924 no no – 26 0.52
VirWox DE 4/11–pres. 1668 no no – 26 0.45
Bitcoin.de DE 8/11–pres. 1204 no no – 26 0.49
Bitcoin Central FR 1/11–pres. 118 no no – 31.7 0.91
Mt. Gox JP 7/10–pres. 43230 no yes yes 22.7 0.49
Bitcurex PL 7/12–pres. 157 no no – 21.7 0.76
Kapiton SE 4/12–pres. 160 no no – 27 0.8
bitstamp SL 9/11–pres. 1274 no no – 35.3 0.54
InterSango UK 7/11–pres. 2741 no no – 35.3 0.45
Bitfloor US 5/12–pres. 816 no yes no 34.3 1.45
Camp BX US 7/11–pres. 622 no no – 34.3 0.63
The Rock Trading Compan US 6/11–pres. 52 no no – 34.3 1.14
bitme US 7/12–pres. 77 no no – 34.3 1.04
FYB-SG SG 1/13–pres. 3 no no – 33.7 2.23
This won't be the first exchange to fail...its actually been breached before. It's death was probably inevitable.
48.
Post 5173344 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.10h):
Headlines tomorrow "Bitcoin failed experiment". "Bitcoin finished".
Actually this is not even a big deal...exchanges have failed before...so what if its the oldest.
49.
Post 5179393 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
Considering that Bitcoin is basically a foreign currency that can be used anywhere in the world (if that makes any sense) I think this is relevant:
http://en.wikipedia.org/wiki/Foreign_exchange_fraud"In a typical case, investors may be promised tens of thousands of dollars in profits in just a few weeks or months, with an initial investment of only $5,000. Often, the investor’s money is never actually placed in the market through a legitimate dealer, but simply diverted – stolen – for the personal benefit of the con artists."[6]
http://en.wikipedia.org/wiki/Churning_(finance)
Churning is the practice of executing trades for an investment account by a salesman or broker in order to generate commission from the account. It is a breach of securities law in many jurisdictions, and it is generally actionable by the account holder for the return of the commissions paid, and any losses occasioned by the broker's choice of stocks.
50.
Post 5179517 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
As defined by the U.S. Supreme Court a bucket shop is "[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."[1] People often mistakenly interchange the words bucket shop and boiler room, but there is actually a significant difference. A boiler room has been defined as a place where high-pressure salespeople use banks of telephones to call lists of potential investors (known as "sucker lists") in order to peddle speculative, even fraudulent, securities. However, with a bucket shop, it could be better thought of as a place where people go to make “side bets” – similar to a bookie.
The term Bucket Shop is a defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop.[2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes 'in the bucket' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market. Alternatively, the bucket shop operator "literally 'plays the bank,' as in a gambling house, against the customer." [3] Operating a bucket shop in the United States would also likely involve violations of several provisions of federal securities or commodity futures laws.[4]
A person who engages in the practice is referred to as a bucketeer and the practice is sometimes referred to as bucketeering.
51.
Post 5179543 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
52.
Post 5180778 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
KeyserSoze, please don't get offended, but I think you're wrong about MP, and I think many on this forum let their linguistic sensibilities cloud their understanding.
No offense. I very well could be wrong. i just don't think one shady person calling others shady (which is the thrust of the link) is the compelling evidence Jorge thought it was when he linked to MP.
I've been pulling for Gox through this silliness but Mark could easily be on the run as well. I'm as likely to be wrong as anyone else. The signs are certainly there that Gox is in trouble. Mark doesn't seem shady to me, he seems to have "risen to the level of his incompetence." That doesn't mean he's incompetent altogether, he's just bitten off more than he can chew it seems. This was OK when we had only one exchange.
MP seems shady to me and that is completely different from incompetent. The troubles come from a different place.
In life when I bite off more than I can chew I step aside and hand the reins over to someone who might have a better chance of handling the situation.
This way, I might learn something by watching how its done.
I sure hope Mark is doing this.
53.
Post 5181566 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
Much more reasonable than this conspiracy about Mark manipulating the price is to think that someone has a lot to gain shorting btc on gox because it is holding a position on some derivative market somewhere that benefits from a low GOXBTC price.
MtGox isn't insolvent, anyone who is selling their coins now because of this fact will be feeling raped by a giant japanese octopus in a few weeks.
Besides that it is easy to realize that he has a business that generate ~100K USD/Day, why would he "manipulate" the price and crash his own exchange exposing himself to the risk of being even murdered? He has a lot more incentives to keep the business up and running, more than anyone here.
Stop with this insolvency nonsense, there is absolutely no evidence regarding that, to the contrary, there are huge evidences that he have a lot of money to maintain his business through the fees he is charging.
FUD
54.
Post 5182317 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
GOX needs to go away...they are not helping.
55.
Post 5183709 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
Hi guys,
I am new to this game and have read what must be the last 100 pages of this thread and most of it has sailed right over my head. I like to think that I have some modicum of intelligence but can't for the life of me figure out what has been going on?
What I can say from my point of view as a relative newcomer to this (started mining alt-coins mid Nov and traded to BTC around 3 weeks ago) is that all this uncertainty in the bitcoin protocol can't be a good thing for its future.
It feels like the Wild West with a lot of volatility and people getting shafted left,right and center with a few people doing very well.
Now I know that the concept is great being decentralised and allowing the market to ebb and flow completely freely ( or not in the mtgox scenario) but it would seem that there may need to be some form of regulation to protect investors lest they are all scared shitless!
I have been re-investing my fiat into more mining gear and have a modest 5 BTC which I have been holding on to in the belief that in the future I will recoup my costs at least and might even make a small profit.
I have to say though that my resolve has been severely shaken.
Here's hoping things will improve in the future.
If I wanted regulation I would go invest on Forex.
This won't be the first Bitcoin exchange to go under nor will it be the last...its just the price of doing business.
GOX did not fail because of Bitcoin it failed because of GOX.
Where there is fiat there is scams...its just that simple.
56.
Post 5183915 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
That the fat fuck hasn't halted trading as the price implodes suggests something nefarious. Dropping the price on a major exchange by 80% through inaction the same as directly causing the crash in my book. I am surprised it has taken this long for some sympathetic lemming selling by big guns on the other exchanges.
Ultimately with bitcoin in the public eye, on the verge of entering mainstream adoption this is precisely what we don't want to happen. The market cap of bitcoin is down to just over 5 billion from 8-10.
If i was Mark Karpeles I would be looking over my shoulder for the next few months. People have been murdered for far less.
Silver lining: buying opportunity.
very true
if he keeps going like this, it'll be a time question before he's dead lol
would you guys mind to stop this childish/unecessary/bad style/bad taste talk about his well being ? why the fuck would anyone harm him ? if one should be to blame for losing funds on gox it is only the person itself who left funds there after all.
i never get it why in forums people behave so shitty, talk about life and death of people they don´t know, as if they are commenting a hollywood movie.
Not to mention you may be implicating yourself if the guy does die mysteriously.
57.
Post 5184311 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
Didn't want to court controversy or offend with the notion of offing Mark Karpeles.
But the simple facts are his continued inaction is crashing the global bitcoin price. Something no doubt which half of you (bears) are extremely pleased about. Noone is calling for regulation but he should halt trading when his exchange ceased to be just that - an exchange of fiat for bitcoin.
Do any of you deny this?
+1
The guy should either step aside and let someone who knows how to fix it take over or just declare insolvency.
The guy is acting like a little kid confronted with someone taking his favorite toy away.
Territorial behavior of this kind is a sure sign of big problems in the GOX organization.
58.
Post 5185417 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
This discussion is getting out of control. I have to say this was one if the most crazy weeks ever. Hope Monday will bring something positive and not an apocalypse.
How many Goxopalypse's have we had so far?
There have been 18 failed bitcoin exchanges so far
59.
Post 5185499 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.11h):
This discussion is getting out of control. I have to say this was one if the most crazy weeks ever. Hope Monday will bring something positive and not an apocalypse.
How many Goxopalypse's have we had so far?
There have been 18 failed bitcoin exchanges so far
No disrespect to people holding GOXdollar or GOXcoin but just being around for number 19 is proving to be a very unique experience indeed.
60.
Post 5228744 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.12h):
Hey how do we know that GOX price is the real price of Bitcoin and the other exchanges are actually the ones that are fucked up?
61.
Post 5229034 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.12h):
Hey how do we know that GOX price is the real price of Bitcoin and the other exchanges are actually the ones that are fucked up?
hell, for that matter how do we know the $2 I'm offering for a Bitcoin is not the real price and all the rest are F!#^g up?
You make a great point.
I mean there are 2 choices here...either around $600 or $300.
By the looks of it $600 is turning out to be a solid valuation for Bitcoin.
GOX going down like this actually solidifies the true value of Bitcoin.
62.
Post 5249240 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.13h):
63.
Post 5249457 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.13h):
From where I am sitting things can go either 2 ways here.
Mt Gox survives which means the market won't go any lower than it currently is.
Mt Gox dies and there will be one more big dip.
So the last question remaining is how low will the market go if gox dies?
I am starting to think that whether gox lives or gox dies is going to be irrelevant a year from now when at the very least people are gonna wish they had bought in at $625.
64.
Post 5250735 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.13h):
Couldn't wait any longer...all in BTC.
I just can't see it going any much lower.
65.
Post 5260541 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.14h):
Its looking like GOX will be the classic scam right to the end.
Keep reeling the suckers in until the very last second possible.
66.
Post 5260762 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.14h):
Its looking like GOX will be the classic scam right to the end.
Keep reeling the suckers in until the very last second possible.
Maybe, maybe not...
Occams razor is telling me that this will all blow over... why murder the goose?
There have been 18 Bitcoin exchanges fail in the past...what makes this one special?
67.
Post 5272879 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.15h):
I wish GOX would just die already
68.
Post 5321200 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.16h):
Hey do any of the old timers on this board know how long this gox shit will go on?
days, weeks, months or years?
69.
Post 5411421 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.21h):
I'm enjoying this hypothetical forking question
This is certainly not the point in time where a fork were to be actually considered but there might come a day where this becomes the case.
In a sense this is the ultimate strength of the system and the reason why cryptocurrencies are here to stay.
No regulation or external influence can stop a new spawn from emerging
I agree to a point but a fork like this would split the community to the point the miners decided and they would do it for money, therefore in that sense its just as bad as the old system to even consider this. A fork would only ever be considered for a change in the protocol not to restore lost coins.
Hey here is a novel idea...instead of forking bitcoin. Why not just use one of the other 100 cryptocurrencies out there?
70.
Post 5439276 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.22h):
I'm bearish because this Gox crap is going to grind on and on and on.
You know I keep hearing reading a lot of statements like this. Please keep in mind that real people lost incredible amounts of money either due to theft or incompetence. Some of these people lost a good portion of their bitcoin investment, others lost their entire life savings, and some lost more than you could dream of making in a lifetime. This is not just some more bad news, some whale shit crap, some media hype. This is a real and very unfortunate event that took an insanely large amount of money from the members of this community. Whether the were "newbies" who "deserved it for not securing their assets" or "traders" or "old money that trusted the oldest exchange to handle their coins". Please have some respect for the fact that this was absolutely detrimental to a large group of investors, investors and community members that support(ed) bitcoin and put their hard earned money into it. Could you imagine the agony you would feel if you lost the kind of money these guys did? Some of you couldn't stomach the agony of losing 5 bitcoins, let alone a few hundred bitcoins. I have spoken to some of these people first hand, I am one of those people who also lost some coins, I will tell you this; speaking with a long time bitcoiner and hearing his voice crack and crumble as he comes to terms with the fact that he lost more money then he earns in 10 years worth of paychecks is heartbreaking. It is not "Gox crap"
Sorry for the rant but that's my two sense on the topic.
+1
I can't help thinking that there has been some permanent fallout from this...some people got left behind on the GOX event which is sad.
Some people might think ya ya...now lets get back to CCMF to da moon but too many of these types of events can end up having a significant impact on the future of Bitcoin.
71.
Post 5449368 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.22h):
People often joke that "America has the worst form of government on the planet except for all the others." It ain't perfect.
And it certainly isn't better than all the others. It has strengths and weaknesses in comparison to other large nation-states, and those are a matter of taste. There are small nation-states which have systems which are vastly preferable to the U.S. system, in my opinion, but they are generally special cases. Iceland is not too bad. Norway is fairly tolerable. I could almost stand Scotland. Singapore is rather decent. Chile, quite nice. Conceivably Paraguay. But then I've not lived there long enough to see the worst aspects, to judge how deeply they disturb me.
Compared to the Parliamentary System in Canada I have always thought that the Presidential System in the USA and many other countries around the world is a breath of fresh air.
Imagine having a system where you vote for someone who ends up voting for the leader of your country...that's basically how it works in Canada. In Canada, our leader shows up for work in the House of Commons (Canada's form of the House of Representatives) every day...the Senate and the Governor General (Canada's form of a President) are just figureheads.
72.
Post 5470731 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.22h):
Volume has gone silent and frequency of posts in this forum too; that in itself is a sign of depression times.
Someone put a little ask wall of 200 coins at 560.5 and it was fully bought into.
Bear Market
73.
Post 5538518 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.24h):
bitcoin is like a new strain of bacteria released into a pristine, ripe, nutritious agar dish ... the size of this tasty dish??
$82 trillion Gross World Product
$55 trillion M2 Global money supply
$32 trillion in offshore bank accounts
$8.5 trillion value of Global gold holdings
... Bitcoin is right now the Premier security system for fast (<1hr) settlement/clearing of global transfers.
Forget about coffees, beers, sex toys and sheets ... microtransactions will be done by layer 2, BitPay, Open Transactions, ZipZap, Coinbase, VISA, etc who will agglomerate and settle using real bitcoin less frequently. I expect >80% of bitcoiners misunderstand the monetary nuclear fuel they are messing around with, its cute, exhilarating and terrifiying all at the same time watching the madness.
Security-wise the design of Bitcoin is not a POS, credit, debit national network class system, it is in the league of SWIFT, FEDWIRE, in fact it is already superior to them all as it does not rely on locale specific legal infrastructure for ultimate arbitration.
For anybody who is obsessing about bitcoin valuations ...
Great post...thanks.
I have always thought the same way about Bitcoin. Even though we think its great...once they start using it, banks and governments will love it.
74.
Post 5858627 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.28h):
When will people start buying bitcoin again?
75.
Post 5866944 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.28h):
i'm sure its gonna happen if not bitcoin it will be another Bitcoin tech currency.
I have been thinking about this. Newer alt coins claim they are better than bitcoin, and rightly so in terms of asic-resistance and faster confirmation. It is also possible a globally central financial organisation like IMF decides to issue its cryptocurrency in future. Therefore, it is possible for bitcoin to be overtaken by its successor.
The interesting part is how events will play out during the transition period. The extreme case is where bitcoin value immediately drops to 0, while its successor replaces it. This is certainly unacceptable to bitcoin holders. Another scenario is where both bitcoin and its successor co-exist for a specified period, while preparation begins for the successor to replace bitcoin completely.
Any thoughts?
asic-resistance is nonsense and any coin touting it will not succeed.
the massive hashrate of the Bitcoin network on ASIC devices is key. If financial entities and professional mining firms are to arise it would be insane for them to be based on hodge-podge GPU mining. ASICs create a slick, powerful design and are already creating a market with good competition, and mining power is truly being dispersed worldwide. (The cost of saboutauge goes up and up, including the inability to covertly do it because of the huge power draws required making it easy to pinpoint the greater mining firms in a few years from now.
It would be stupid at this point to build a 50-million-dollar, 5,000kW facility in order to attempt to overthrow the blockchain. A year ago that would have been a real possibility
A 5MVA facility can be engineered quite easily.
The largest primary service available where I work is 6MVA.
I would say a 10MVA facility would be what your talking about...upper level government approvals would be required to get a facility of that size off the ground since transmission voltages would be required.
76.
Post 5902104 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.29h):
We think we have it tough...spend some time over at the auroracoin subforum...not fun
77.
Post 6045912 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.32h):
This is the first bubble I've observed up close and personal. I'm finding it a teensy bit eerie how closely it's following the script others have laid out...
What's particularly interesting is that many bubbles pop and go to zero. Bitcoin has survived several boom/bust cycles, never going to zero. Indeed each bubble high is higher than the previous, and each bubble low is higher than the previous. It appears, and the hope is, there may be a few more of these cycles before it enters a more solid state on price.
This time is unprecedented bad news though.
There's also unprecedented good news. Its legal status is clearer day by day, which makes it a way less risky investment. Plus the Atm's popping up everywhere, the rise of trustworthy exchanges, business (overstock, etc.) realization that Bitcoin might be profitable for them, etc.
The market seems overly pessimistic at the moment, and prefer to drag the dead dog that China has been since January, rather than rejoice of the many good news.
I wouldn't call it unprecedented good news. Legal status here is clearer, but not in China. Paying taxes on mining is a step backward. Everything else you named was good, but the bad news overshadows it.
That's because there's no official statement in China but there are new developments coming from each China exchange about payment processing. Until there is a statement, I expect to be new lows.
Well put.
Even though Bitcoin is becoming more legitimate...in many ways it's not how anyone imagined it.
78.
Post 6077551 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.33h):
What does it mean when the first thing on your mind when you get home from work is to catch up on the latest happenings on this thread?
79.
Post 6090932 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.33h):
the next dump could be brutal
For the dumper yes. Who would dump at these prices?
I just market sold 3 BTC @ $465. If this shit continues, I'll double that and then double it again. Then I'll leverage short.
This doesn't make any sense. One should make decisions based on the current market, not "I am going to chase losses with leverage if I am wrong".
I made $400 today locked in. That's not "if the market holds". That's USD. and if the market keeps going up, I'll lock in more. I hope it does. I will have tens of thousands of dollars to jump back on the gravy train if a clear reversal materializes.
What exactly would be sufficient evidence or indication of a clear reversal?
When the 1w graph on Bitcoin Wisdom starts pointing upwards
80.
Post 6133224 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.34h):
Any reason why the Bitcoin wisdom chart is all scrunched up?
81.
Post 6148910 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.34h):
If you acted like a responsible person you wouldnt invest more than you felt comfortable loosing in a ultra high risk venture. That said, all the drama with sunk cost and market testing FUD wouldnt be so hard on you, you could just sit back and take a sneak peak once a week/month.
Another thing too, I dont take any advice from users with begging addresses, and I suggest the same to others
Dude stop taking it so personally when people think the price might go down
It's so painful watching you guys squirm
Im not taking it personally because i got no btc, im waiting to buy, but it gets on my nerve when people talk like they know shit for certain, and as a rule that kind of people always say its going down, so you got the impression that I have a problem with the price movement.
I am certain it is going up...now what?
82.
Post 6165620 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.36h):
Even the log charts don't look good
83.
Post 6186811 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.36h):
I don't know if anyone has noticed but the long term charts do not look good...even in log scale.
All this volatility all the way down since Nov-Dec may be great for day traders that know how to spin this however most of us mortals don't have those kinds of skills.
I am going to sit tight on my fiat until the long term charts show a clear uptick.
Just my 2 cents.
84.
Post 6187717 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.36h):
Fucking bears.
It went down to $336,-
Still they be: UGH, I WANT IT TO GO LOWER. I GOT SO MUCH MONEY TO SPEND ON BITCOINS, LIKE OMG. Shut the fuck up already. It's been at $336,-. You missed it. Bad luck. Get your BEAR balls together(if you even have some balls) and get the fuck in.
Honestly, all this bullshit talk about wanting to have cheap coins. All a sudden it's at $336 and they still DONT fucking buy coins. Your fake, seriously.. fake.
The hard reality is that Bitcoin is just not that attractive once you start to use it.
If you use it as a currency you need to pay to get it like any other foreign currency. It's like converting my CAD to USD just to spend my CAD.
If you use it as an investment it's really no different than many other investments. It has it's heyday and it has its lows and everything in between.
If you use it as a speculative instrument you had better know what your doing. Some of the commentary on trollbox even leaves day-traders baffled.
If you want to mine it then your too late. You can't put more than about 1TH/s on one 15A breaker...how many spare 15A breakers do you think your have in your home?
So what's Bitcoin worth to me? I say single digits...if it went into the single digits then I could justify getting back in. Until then I am going to just sit back and watch the fireworks...I love the Bitcoin drama...I mean you can't buy tickets to this kind of entertainment.
On a positive note, I think the biggest impact from Bitcoin will be the actual protocol. Governments, banks and retailers will use this protocol to their advantage in some way to streamline international transactions.
Just my 2 cents
85.
Post 6191699 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.36h):
Been a while since we've seen a double bottom.
Ex:
Hmmmm....very very interesting
86.
Post 6200018 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Every transaction has a buyer and a seller. Therefore at least one idiot is necessary for any trade to occur.
That is a perfect illustration of how fundamentally mistaken you are, sir. I urge you to apply yourself to your own education in this regard. The current situation is harmful all-around, not least to yourself. Problem is, you know enough to be dangerous, but not enough to be trusted.
: )
Sellers spin it up and Buyers spin it down...an idiot is someone who doesn't spin it at all.
87.
Post 6200875 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Today something dawned on me:
We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.
Despair
Don't think so. "Apathy" is more like it, imo.
I think a lot of people are getting tired of the bullshit... and probably thinking that BTC prices should be more in line with the fundamentals.. in the $750-$850 arena.
$750 valuation based on what?
Ya based on what?
For me everything seems to be pointed toward $9.99
88.
Post 6201370 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Today something dawned on me:
We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.
Despair
Don't think so. "Apathy" is more like it, imo.
I think a lot of people are getting tired of the bullshit... and probably thinking that BTC prices should be more in line with the fundamentals.. in the $750-$850 arena.
$750 valuation based on what?
Ya based on what?
For me everything seems to be pointed toward $9.99
I already addressed this value basis question in another post.
But if you think the current value is $9.99-ish, then you seem to really be living in a fantasy land world, and possibly, you do NOT understand various bitcoin fundamentals.
I do NOT claim to be nearly an expert on everything about bitcoin, but there is a lot of upward potential that may or may not be realized.. depending upon how world events play out.
I am betting on BTC prices going up, though, and I believe the odds are pretty good... that we are going to be seeing upward price momentum rather than downward momentum - even though it is possible that we will continue to see downward price momentum for a couple of more months...
Does your valuation take into account the fact that Bitcoin mining as we know it will collapse very soon?
89.
Post 6201944 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Today something dawned on me:
We can actually start seeing signs of "sellers' exhaustion" in volume and price action, but what is fascinating is that, different from the previous cycle, there is no sign yet of "buyers' appetite" re-appearing correspondingly.
Despair
Don't think so. "Apathy" is more like it, imo.
I think a lot of people are getting tired of the bullshit... and probably thinking that BTC prices should be more in line with the fundamentals.. in the $750-$850 arena.
$750 valuation based on what?
Ya based on what?
For me everything seems to be pointed toward $9.99
I already addressed this value basis question in another post.
But if you think the current value is $9.99-ish, then you seem to really be living in a fantasy land world, and possibly, you do NOT understand various bitcoin fundamentals.
I do NOT claim to be nearly an expert on everything about bitcoin, but there is a lot of upward potential that may or may not be realized.. depending upon how world events play out.
I am betting on BTC prices going up, though, and I believe the odds are pretty good... that we are going to be seeing upward price momentum rather than downward momentum - even though it is possible that we will continue to see downward price momentum for a couple of more months...
Does your valuation take into account the fact that Bitcoin mining as we know it will collapse very soon?
NO it does NOT.
I did NOT know that interesting "fact."
Can you explain when and how and why? And, what are your sources for your information - b/c I have NOT seen any news about this happening.
A TH/s miner pretty well uses up an entire 15A circuit breaker in your home.
How many spare 15A breakers do you think there are in a home with a 100A service?
90.
Post 6202114 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
A TH/s miner pretty well uses up an entire 15A circuit breaker in your home.
How many spare 15A breakers do you think there are in a home with a 100A service?
Do you seriously think someone is going to spend $20k on ASIC hardware, and balk at adding a breaker panel?
Perhaps amateur mining will cease to grow (although it will always exist). The wiring issues are the least of the problems for large miners.
The only real problem I see with mining is centralization.
Centralization will be the beginning of the gentrification of Bitcoin. Once it is centralized it can be controlled by banks and governments.
91.
Post 6202217 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
A TH/s miner pretty well uses up an entire 15A circuit breaker in your home.
How many spare 15A breakers do you think there are in a home with a 100A service?
Do you seriously think someone is going to spend $20k on ASIC hardware, and balk at adding a breaker panel?
Perhaps amateur mining will cease to grow (although it will always exist). The wiring issues are the least of the problems for large miners.
The only real problem I see with mining is centralization. That's not a problem in itself, but it creates a huge vulnerability. And there's no way to fix it without pissing off the miners -- other than creating new miners. And that's what responsibly self-interested large holders should seek to do: Facilitate the creation of new, no-fee, merge-mining pools. P2Pool is a nice idea, but a trainwreck as software.
BTW...have you checked out the cost of an electrician to do this kind of work lately?
92.
Post 6202276 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
The only real problem I see with mining is centralization.
Centralization will be the beginning of the gentrification of Bitcoin. Once it is centralized it can be controlled by banks and governments.
Agreed. But its a solvable problem.
Please elaborate.
93.
Post 6202608 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
The only real problem I see with mining is centralization.
Centralization will be the beginning of the gentrification of Bitcoin. Once it is centralized it can be controlled by banks and governments.
Agreed. But its a solvable problem.
Please elaborate.
I addressed one solution above. Other ameliorating factors can be introduced. For example, mining could be moved to side-chains with small, fast block rewards. This would not penalize current miners but would make it easier for amateurs to add distribution without throwing in to a big pool. Anything that leads to more, smaller pools would be good. It works because the side-chains would be merge-mined with the bitcoin 1.0 chain.
Are you of the opinion that difficulty will continue to increase?
94.
Post 6202788 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Sellers spin it up and Buyers spin it down...an idiot is someone who doesn't spin it at all.
LOL...ok that's funny
95.
Post 6204229 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
The distribution of mining is a problem you cant deny that the majority of new hashing power is not coming from the average joe.
Why should it come from the average joe? Was bitcoin purpose the redistribution of wealth and I wasn't aware of it?
Its worrying if you dont see how distributed mining is absolutely necessary for a number of reasons. Its not so bad when you can see pools mining blocks but what do you think
everyone would start thinking if a huge amount of hashing power came online from an unknown source and was finding all the blocks?
So because people are panicking I should panic too?
So what is ghash is controlling 51%. If ghash had 20% , hashme 20% and extrahash 11% everybody would be happy without even thinking they might be the same company?
http://learncryptography.com/51-attack/51% is soooo overrated
Centralized mining facilities are weapons of crypto-currency mass destruction.
It's not a matter of if someone uses them...it's a matter of when.
96.
Post 6222999 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
Don't have to. It's obviously suicidally seeking an undead existence: The concentration of mining means concentration of consensus, which means centralized currency, centralized planning and control, which means we're a dead man walking; unless there's dramatic action taken, it won't be long before bitcoin is a zombie, an unnatural hollow shell of its former self. Bitcoin as a currency will continue to function, but the bitcoin idea, the ghost in its machine, will no longer be attached to the currency. It's also not clear how even dramatic action is capable of preventing this outcome. Moving mining to sidechains with smaller faster block rewards is the best I can come up with, and it's not at all clear that's enough, nor even that the will to do that exists.
There's no particular reason to think this condition will affect price in the near term, however.
What concentration? I really don't see it. The vast majority of hashrate is individual miners in pools and they can switch pools whenever they feel like it. The industrialization of mining will not mean any further centralization other than possible near misses at certain times throughout the early adoption cycle. Asicminer had 30% plus of the hashrate briefly but lost that status and even with Gen 3 will likely not come close to that again with a projected 1600Ph/s
Here is a simple question...how many 1TH/s miners do you think you can plug into a house?
97.
Post 6223136 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.37h):
What concentration? I really don't see it. The vast majority of hashrate is individual miners in pools and they can switch pools whenever they feel like it. The industrialization of mining will not mean any further centralization other than possible near misses at certain times throughout the early adoption cycle. Asicminer had 30% plus of the hashrate briefly but lost that status and even with Gen 3 will likely not come close to that again with a projected 1600Ph/s
It doesn't matter who owns the hashers if they go through a central chokepoint. Each pool is such a chokepoint. The pool owners determine what transactions are mined, not the hashers. Before pooling, you had H*0.51 points of control required to control the network. After pooling you have maybe 4. Any worthwhile criminal syndicate could now take over the bitcoin network, including black ops of any state with the budget of, say, New York City. And it can be done before anyone has a clue. Indeed, may already have been done, for all I know. I don't get to see the code running at Eligius or ghash.io.
Again, it won't kill the corporeal body of the currency. It will just kill its decentralized soul.
+1
Centralized mining is already well on its way.
https://bitcointalk.org/index.php?topic=569908.0By the end of the summer mining in your home will simply not be worth it without a 400A service.
98.
Post 6240835 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.38h):
You said yourself we are all China's bitch. Here's something that just popped into my head:
Whacky conspiracy theory:
Price is being manipulated by the PBoC to accumulate a large position for the purpose of adding it to it's gold and foreign currency reserves. The ultimate goal is to make the renminbi a major world currency, possibly the world's reserve currency.
evidence for said whacky theory:
1. stochastics are funny.
2. Public airing of pro-bitcoin feature on public television followed by outright hostile words and policy, followed by...uncertainty"
evidence against said whacky theory:
1. That's the beauty of conspiracy theories. The lack of evidence merely shows you how deep it goes!
discuss.
This thing started by couple of half-witted Chinese officials f**king up and getting pulled into the BTC hype, that included the idea that BTC is competative against the dollar. In communist regimes it's not unusual to have officials in high position that didn't get there by their competence, but by loyalty.
It just took some time for smarter officials to join in and explain to everyone in power, that by letting the Chinese people pump BTC, will only make money flow out of China and into the pockets of westerners who own most of the coins in existance.
That is the reason why China and Russia wants nothing to do with bitcoin but the western powers don't mind.
There is only one flaw with this reasoning...with only a 5 Billion dollars is peanuts for these countries...if China or Russia or the USA for that matter wanted all the Bitcoin there wouldn't be much we could do about it.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
99.
Post 6240998 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.38h):
There is only one flaw with this reasoning...with only a 5 Billion dollars is peanuts for these countries...if China or Russia or the USA for that matter wanted all the Bitcoin there wouldn't be much we could do about it.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
I agree with you there that no country is taking BTC serious because it isn't a serious competition as an currency.
I'm not telling here that China govt wanted bitcoin, I'm just telling that couple of half-witted Chinese officials thought that it would actually help them fight against the dollar as the dominant reserve currency. Later smarter people explained to them that it isn't so, so any government support was pulled.
China was pro-bitcoin for a short period because of the stupidity of the few.
Probably the reason governments don't really care about Bitcoin is because when all mining is centralized by the end of the 2015 they can simply expropriate the facilities in the name of national security.
100.
Post 6249731 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.38h):
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.
people here use logic?
+1
If someone could explain to me how logic has anything to do with what's going on here that would be great.
101.
Post 6274805 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
My money finally cleared, I'm curious to know what you guys would do at this moment if you were in my shoes.
I was planning on just sitting this one out, I'm still paying interest on the money I borrowed to buy that last dip, but when we broke down below 400 on virtex I also broke down and tried to get some more money in.
That money has finally landed at the exchange. I was planning on using half to just buy whatever I could immediately and then set a tranche down to 300 with the rest, but I was also planning on the money arriving on Monday...
mostly just wondering what you guys would do right now.
HODL...Bitcoin will be $9.99 by the end of the summer
102.
Post 6274841 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
Do you guys have an estimate on whats the price of BTC in the next 6 months?
$9.99
Why?...because the largest segment of Bitcoin use is going to grind to a halt before the end of the year.
103.
Post 6275288 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I know, it's just so simple & effective to forget about it & hodl for years.
..
..But, I don't have years. I already spent 9 years (I'm still in 20's so it's mostly fine) losing money to a not-so-expensive-but-still 'variable-rate' learn-the-hard-way tuition fee. I need to make each slice of $$ within days, maybe weeks at most, not months nor years. And I'm not the only one. It's just difficult, not impossible. Some are making it.
And +, there's always that half of my capital that's sitting in low-priced alts for long-term. That's a sufficient hedge against any trading loss.
People are going to speak in certainties to you here. Remember this: nothing is certain. If you dump in now, you could wind up wealthy in a few years, or you could wind up deeply in the hole never to return if this whole thing turns out to be one huge bubble in the process of popping. If you disappear for a few years and come back, you could find that you were wealthy for a while, but then bitcoin got destroyed. Then again, you could find bitcoin at $2500 and be up a nice chunk. Who knows? The point is, again, nothing is certain. Take any advice that guarantees something, such as "bitcoin to single digits," or "bitcoin to $100,000 within 2 years," with a grain of salt and a lot of skepticism.
Others will talk up their position, screaming bitcoin is dead or bitcoin to da moon based on their position.
I've got to tell you, though. You seem desperate. If you're desperately hoping for a ton of money to fall in your lap in a couple of weeks, that leaves you vulnerable to panic buying when you see it going up. You also seem kind of poor, which means if you over-invest, you will be very vulnerable to panic selling. All of this equates to a personality that is very likely to buy high and sell low. Now is not the time to be investing in bitcoin to get rich quick, that time was at $5. People investing now will need to work to make money, although there's a lot of fish in this pond relative to other markets, so if you get skilled, you can presumably make a killing. I can tell from your posts that you are very unlikely to be skilled, so be careful.
I've found the best time to buy is when everyone else is crying that the price is never going to recover, and every rise is met with cynicism and "bull trap!" The best time to sell is when every drop is met with "bear trap!" and equal amounts of cynicism in the other direction. The first means everyone is out and hoping the price will drop, the second means everyone is in and hoping the price will rise. When there's a mix, that's too risky for me. I don't like making quick trades, I just go for the big ones. I start my buying when the price is getting obliterated, and sell on the way up. The speed at which I sell depends on whether I think we're in a downtrend or uptrend. Uptrends I tend to let it go more, downtrends I try to get out quickly and be more conservative.
And don't ever short bitcoin, and never use leverage. You don't sound like you can afford to do either. There are even some people who are seemingly bears all the time who think shorting is dumb, probably from getting banged hard for doing so at some point.
Learn TA. There are people who hate on it, but I disagree. Spend your time learning how to read charts, and always take your own path. Do not buy or sell simply because someone that seems respectable tells you to. You're probably not skilled enough to be a good judge of who to trust. You can use the posts of others as confirmation of something you're already feeling strongly about, but don't take anybody's word for it without putting in the time educating yourself before you take a position.
If you want to day trade, you've got to educate yourself, and learn to control your emotions. If you don't do that before you start getting into the thick of it, you will almost certainly get destroyed if you don't luck out. Don't rely on luck, luck is for lottery players. Put in the work, and you might just be able to reap the rewards.
Killer post.
Should be made a sticky in the Newbies section.
I agree. That is one piece of sound advice, artfully expressed.
+1
104.
Post 6282635 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
105.
Post 6282713 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about people that actually care about the day to day price of bitcoin
106.
Post 6283037 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about
people that actually care about the day to day price of bitcoinAs a "holder" I still totally care about the day to day price!
why?
107.
Post 6283138 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about
people that actually care about the day to day price of bitcoinAs a "holder" I still totally care about the day to day price!
why?
I supposed I shouldn't care, but it is hard not to still get emotional about the ups and downs and it is great to see the price rising. There will come a day when I will cash some of the coins out. Of course it will be a very systematic sell off and at that point I might buy back some on the dips but for now I have just been holding and waiting and I don't regret it.
ok so your actually still speculating then
108.
Post 6283201 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about
people that actually care about the day to day price of bitcoinAs a "holder" I still totally care about the day to day price!
why?
I supposed I shouldn't care, but it is hard not to still get emotional about the ups and downs and it is great to see the price rising. There will come a day when I will cash some of the coins out. Of course it will be a very systematic sell off and at that point I might buy back some on the dips but for now I have just been holding and waiting and I don't regret it.
ok so your actually still speculating then
I have other investments which I am "holding" and sometimes go as long as 6 months between price checks
109.
Post 6283271 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about
people that actually care about the day to day price of bitcoinAs a "holder" I still totally care about the day to day price!
why?
Most holders do so with the goal of increasing their wealth. The current USD/BTC price is the current measure of that wealth. It follows that holders would very much care about USD/BTC price at all times, as they care about the value of their wealth at all times.
I should create an Android app/widget that displays wealth based on BTC holdings multiplied by USD/BTC liquidation price.
I just thought holders where more set-it-and-forget-it laid back types.
In any event what I was originally getting at is that people that buy and sell bitcoin on a regular basis usually get burned at one time or another...part of the learning curve.
110.
Post 6283387 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.39h):
I wonder how many people have bought into bitcoin and been killed short term with drops. So they become bitter and start shorting it and then get killed on its way up. Then preach to everyone that the market is manipulated and they predict doom for all on their way out.
duh...ya...thats been everybody on here at one time or another. Its part of the learning curve.
Everyone? If you don't trade you can't short and get burned. This is why holding is always a great option!
Hubby and I have just been buying and holding for a little over a year now.
I am not talking about holders...I am talking about
people that actually care about the day to day price of bitcoinAs a "holder" I still totally care about the day to day price!
why?
I supposed I shouldn't care, but it is hard not to still get emotional about the ups and downs and it is great to see the price rising. There will come a day when I will cash some of the coins out. Of course it will be a very systematic sell off and at that point I might buy back some on the dips but for now I have just been holding and waiting and I don't regret it.
ok so your actually still speculating then
I have other investments which I am "holding" and sometimes go as long as 6 months between price checks
Other investments probably don't increase (or decrease) in value as fast as Bitcoin can.
Because there are intervals in which we will sell (using the SSS plan that can be found on this board) I need to be vaguely aware of the price for that reason. But I think it just becomes a bit addicting watching the price! I need to find another hobby!
interesting...tell me more about this sss plan
111.
Post 6363346 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.40h):
No, thank you, I sold at 800 and recently at 550.
even if the price in fact reached 550 recently, that would not be a convincing tale. perhaps try 540?
It went above 550, I trade at Btc-e. Maybe you should try a new pair of glasses.
If you are being pedantic then I sold at some 548 or something like that, and that too not together. I have staggered buys and sells.
There is nothing wrong in being bullish. Keeping on saying it is going to the moon, do not sell when price was 1000 was just stupid.
+1
112.
Post 6363502 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.40h):
This board is so bullish its amazing. A testimony to bitcoin indeed.
I don't know to make of it. On one hand, all this bullish sentiment should mean that we haven't capitulated yet.
But I know that's not a complete picture.
Some of us have learned how to be bullish at all times.
Learn me how, i need that optimizm
Hold for a year and after a couple of bull runs you will understand how Bitcoin is the "honey badger" of money.
It was a real pleasure seeing you urging everyone not to sell as Bitcoin came down slowly from 800.
With Bitcoin reaching new all time highs once or twice a year I think it is wise to hold, even for those that purchased at $800 or even $1200.
However, if you want to sell go ahead!
No, thank you, I sold at 800 and recently at 550.
Carra23: You must have some kind of inferiority complex if you get pleasure out of seeing some other people do worse than you, and then you feel some kind of need to "rub it in"
I doubt that you are particularly omniscent. And, if it is true, being in fiat may NOT be the right way to go... that is if you are all in fiat or if you are planning to reinvest in BTC.
what's the big deal...let the guy make some money off bitcoin...last time I checked making a buck is still legal in the western world.
113.
Post 6428631 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.41h):
What would convince bears to be bulls and what would convince bulls to be bears?
For bears: How long should bitcoin price rise and to what price that we can call this dip over?
For bulls: How low must bitcoin fall before someone agree that it will never reach more than 1000USD again until several years from now?
Everyone has a personal valuation of Bitcoin...the dollar figure where they would take all the spare money they have lying around and buy.
I am sorry to say but that number for me is single digits mainly because fiat does mostly what I need it to do.
114.
Post 6456860 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.41h):
that is so cool.
If there was a WOW coin I might just start playing again even though LFR ruined the whole damn game!
115.
Post 6487124 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.42h):
What? The odds are 1 to 1.
We are 50% between 2555 and 3106.
Which one do we hit first?
As you have less coins than me, I deferred the choice of amount to you.
why the fuck would i bet with you on 1:1 odds when the market is offering me 1:3!?
So you will make 300% profit if we get to 3106??
What the hell are you talking about???
Take the bet and win and make 100% profit on a 15% move.
What universe are you living in right now?
If a go long here, ad it goes to 3500, I make $300. if I short here, and it goes to 2500, I make $100. not to mention, I can reverse my position if fundamentals change on the market, I cant reverse my bet. You better offer me 4:1 odds at least or it's not worth my time.
If you make a bet you believe in based on 100% of your posts you make a 100% profit on <15% market move.
Thats better than going long or going short.
You are a fucking idiot.
I'm calling you out on this one just in case anyone reading this thread bought your drivel and excuses.
Is this what the Bitcoin market has been reduced to...sidebets? Pathetic!!!
116.
Post 6545077 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.42h):
Guys, we look prime for a big dump on Houbi. The buy pressure keeps dwindling and the down trend has been re established for over a week now. His market will most likely drift until news comes out this week. But I think we test 2555 and lower VERY soon.
Odd time for a dump, slap-bang in the middle of a 3-5 day holiday. Do you think they'll hold off dumping until Tuesday, or are you thinking it's more imminent than that?
No, I am just saying the chart is pretty much screaming that it is coming. We could even get a slight (2730-2780) bounce before it comes, imo. Its soon Monday in China already. I think in the next 72 hours there is going to be a big one.
The Big One? Final Dump and move on. Or is that too much to hope for? I just can't see this going on indefinitely.
6 months isnt indefinitely..
The six month chart looks to be leveling out...I think we are at bottom.
I would say now is the time to buy.
117.
Post 6545105 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.42h):
Guys, we look prime for a big dump on Houbi. The buy pressure keeps dwindling and the down trend has been re established for over a week now. His market will most likely drift until news comes out this week. But I think we test 2555 and lower VERY soon.
Odd time for a dump, slap-bang in the middle of a 3-5 day holiday. Do you think they'll hold off dumping until Tuesday, or are you thinking it's more imminent than that?
No, I am just saying the chart is pretty much screaming that it is coming. We could even get a slight (2730-2780) bounce before it comes, imo. Its soon Monday in China already. I think in the next 72 hours there is going to be a big one.
The Big One? Final Dump and move on. Or is that too much to hope for? I just can't see this going on indefinitely.
6 months isnt indefinitely..
The six month chart looks to be leveling out...I think we are at bottom.
I would say now is the time to buy.
I just bought in...all in Bitcoin now.
118.
Post 6688769 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.44h):
...
I fail to see what that has to do with "Bitcoin price movement tracking and discussion"
...
Work for you?No it doesn't actually.
It might sound tongue in cheek, but I believe there are plenty of people - not necessarily rpietila - who would be considered ripe for a mental institution but who have particularly keen insight in certain respects. It seems quite obvious to me that these things can often go hand in hand: a person has an unusually large part of their concentration focussed on one thing, leaving less of their mind or personality for the rest.
When his advice is clearly fueled by manic episodes, after which he ends up hospitalized?
Also SATAN!1!
You guys are so strange...do you have any idea how hard it is to get into a mental institution nowadays...you pretty well need to be criminally insane.
Nowadays they just hand you a bottle of pills and say ""Have a nice day".
119.
Post 7282210 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.52h):
Anyone guessing where the bottom is to this downtrend?
120.
Post 7291745 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.52h):
Now Bitcoin isn't trustless anymore. That's unfortunate.
Yeah true, so much true now sodl and gtfo, go play with wow gold.
You are agressive, your life must sucks, I am sorry for you, I hope you will do better in the future.
Oh I'm sorry did I scared you, I'm sorry I didn't mean to scare you, I'm not aggressive in nature, sorry again. So this is your 1st 51% incident is that true?
That's not because it's not the first time that it's not very serious. Peter Todd is worry too:
http://www.reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/Bitcoin cannot grow worldwide if its faith depend on the hypothetical good behavior of some human beings, the stakes are too high to afford to trust somebody.
So as I understand it from what you write the smart thing to do is to sodl nau and gtfo is that right?
The smart thing to do is to admit there is a problem and search for a solution.
You don't think my solution is plausible?
That's not qualify as a solution in my book.
So... much ado about nothing...
Solution is to run away from ghash.io and not be to greedy for couple of extra bucks from theirs no fee and merged mining.
A solution that involved the need for human beings to not be greedy is not a viable and realistic solution.
Ah yes u are right stupid me . People cant not be greedy LOL .
Damn this conversation should be in a philosophy text somewhere.
121.
Post 7291802 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.52h):
We should be much closer to $10 by now. Bitcoin makes no sense.
I have been wondering exactly the same thing.
If this keeps up Bitcoin may get to a new all time high!
122.
Post 7316415 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.53h):
I just went all in LTC
123.
Post 7331088 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.53h):
possibly impossible
100% right 50% of the time
124.
Post 7437096 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.54h):
Anyone have an ideas on why bitcoin is so polarizing? Either you love it or you hate it, not many are in between.
For the same reason that any foreign currency is polarizing...harder to use but still technically a better currency.
125.
Post 7438442 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.54h):
The real weak hands are those who fantasize about some imminent 10k bubble looking at retarded exp log chart trendlines and then dump when inevitably it becomes blatantly obvious that their inflated expectations were wrong.
So are traders who try to time bubbles to sell top and buy back lower considered average strength hands? And holders strong? Trying to figure out where I fit.
Weak hands are people like MatTheCat, fonzie, and some others who are scared to hold coins for long and when the tree starts shakin' they don't know how fast to dump their coins again. Also people like the ones Blitz referred to who buy some coins to ride the imminent bubble and when they don't see a bubble within 2 weeks they will sell their coins again disappointed. Faalhaas is a perfect example of this.
Then we get to the Veronicas who think they are a strong hand at first, but then get really scared when they see the price drop hard and eventually give in and dump their coins at the bottom or close to it. This is also a weak hand, but one pretending to be strong until tested and these people will naturally suffer the most.
Then we have the day traders who use TA and stuff to try and buy low sell high. They are also weak hands but a small percentage of them are actually good enough to make money from the market. Most of them will miss the biggest profits during the big Bitcoin bull rides though, but they're at least trying to manage their risks.
Then we get to the long term investors who are generally long on Bitcoin, but take profits out during big rallies and they also may buy more when they see dips. These I regard as strong hands with a decent sense of risk management. In terms of time investment and profitability I think this is the most efficient form of trading/investing in Bitcoin and I personally try to stick mostly to this strategy. I admit I do tend to also be a part of the last group, the true superstrong hands who are called the HODLERS of course. 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.
You can probably sum this up with "Don't play with money you can't lose"
126.
Post 7454096 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.54h):
The longer I fail at trading Bitcoin the more I get the feeling that a lot of my trades are due to boredom.
The old saying "idle hands are the devils playground" comes to mind or possibly a psychosis or two bubbles to the surface during these times of boredom.
In any event, whether one is being lured down the garden trading path by evil forces or whether one sees trends that are not actually there it all ends in the same result...making stupid trades.
I know that they will probably never admit it because it does not fit into their lifestyle but I believe that good traders actually do have one virtue and that is patience.
127.
Post 7500191 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.55h):
Take a look at the 1 week charts at Bitcoin Wisdom.
Isn't there usually a double bounce at the top and bottom of every markets?
If that is the case then Bitcoin has to have one more big dump before heading to the moon.
128.
Post 7509331 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.55h):
Hopefully this is the double bottom everyone has been waiting for then...to the moon!
129.
Post 7547615 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_12.55h):
I think that was our double bottom folks...too the moon!!!
130.
Post 7996111 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.00h):
As an Aussie, I have to say, all these retailers offering BTC payment are completely missing the point. Why would an American pay with BTC? A credit card is surely much much easier. It's us foreigners that need it, we get screwed by the currency conversion. At the moment the only person paying with BTC is someone that already had them, probably purchased much much cheaper, and is in effect cashing out. Nobody in their right mind would buy BTC just to purchase something online, the hassle and time involved is still ridiculous. But for something like a laptop, where currency conversion is usually around 3 -5 % of price, it could make a $100 dollar difference to everyone overseas, which would definitely drive adoption.
Dell, Overstock et al, get your shit together!!
Yup...if you don't have Bitcoin using fiat is easier and cheaper.
131.
Post 8987042 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.16h):
or even better hire another team to just post complete trash and bury this thread lol
I thought that has already happened a bunch of times
132.
Post 9082204 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.19h):
I understand that there is a lot of angst in the Bitcoin community about the constant decline in Bitcoin value however what did everyone think was going to happen?
I mean Bitcoin is just a fucking token...much like a loyalty program point...it was overvalued and is still overvalued.
Trading Bitcoin was supposed to be fun...the fucktards on here that dumped their life savings into it deserve what they get for taking it so seriously in the first place.
Have people made money on Bitcoin?...Yes...Have people lost money on Bitcoin?...Yes. This is all irrelevant compared to the peer-to-peer transaction authorization protocol that Bitcoin uses. This technology could be re-purposed in so many ways.
So everyone on here running around like a chicken with its head cut off...take a moment to take a look around and smell the roses.
Whether we are winners or we are losers the main thing is that we are all part of something great!
133.
Post 9083325 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.19h):
For no good reason I am calling the bottom at $0.10USD/BTC.
This is a respectable price for a loyalty program token.
134.
Post 9092624 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.20h):
Next stop...$156.20 and even that is overvalued.
Single digits...single digits is all its worth at the very most.
Personally I wouldn't buy back in until its less than a dollar.
135.
Post 9095249 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.20h):
Watching the markets crash and burn is kind of hypnotic...kind of like watching a fire...mesmerizing!
136.
Post 9095902 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.20h):
this won't be over until the hash rate stops going up and stabilizes for a bit, maybe even goes down
too many idiots dumping money into mining equipment which means that we are still in bubble stage, just like mining gold folks
there is also a lag effect for mining equipment which means that the price will dip a bit to punish the piggies
marginal cost of production - marginal revenue = 0
ain't no different.
When you add the fact that there is a systemic problem with mining Bitcoin its going to get a lot worse before it gets better...I mean how many 1TH/s miners does one think they can plug into a typical 200A house panel?
Sure there may be larger mining facilities out there but they have higher overheads.
I can't help thinking that the Bitcoin Protocol is actually working exactly as its supposed to...the greater the greed eventually everyone loses.
137.
Post 9097871 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.20h):
This is starting to remind me of when everyone got Goxed...stupid shit going on.
138.
Post 9097994 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.20h):
I can't believe more people aren't worried about the exchanges...I mean if Bitcoin totally tanks I am thinking most of the exchanges out there will be taking the money and running.
139.
Post 9116741 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.21h):
I laughed more than I should have. LOL
Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.
Well i am from Serbia, but i share your sentiment.
Could be worse. You could be from Detroit.
does that make the whole US a shit failure land ? just saying...
No, but it tells you something about the people running it.
you mean the ones that got voted by a free and democratic process ?
That's debatable.
140.
Post 9309526 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
Man when you look at the 1 week charts BTC is going nowhere but down...depressing
141.
Post 9321202 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
I still can't believe people think that Bitcoin is going anywhere...in 5 years it will be some long gone fad.
In the meantime everyone and their dog will be using blockchain technology for other things.
Bitcoin was a great idea but its over...get on with real life
142.
Post 9336756 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
The Winklevoss are giving a keynote at Money 20/20 in a week.
Is it possible they may announce the ETF? Does the SEC publish public documents upon approval, or do they privately tell them it got approved? In other words, will we know when the Winklevoss know?
When one looks at where Bitcoin is going lately they will probably turn this into the mother of all pump-and-dumps and exit the market.
143.
Post 9337175 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
The last time it was 377 was at 22:00 on 22Oct14...there is no chance that it will hit that in the next 5 hours.
144.
Post 9337410 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
in 32 Hours the price according to my sources will be $377 (+/- 5) 
How is this working out for ya?
Pretty well...
so like i said 1am UK time we will hit 377 +/-5
2 more spikes, and by the time China is eating corn flakes, we'll be close to 377.
but don't hold me to exactly 1am. might be a few hours late.
you keep saying the same thing over and all over again, suppose you hit $377, then what ? why is $377 important to you ? what would this change?
it is $377, it is not like we are going to hit $600 or $800, I am pretty sure that even if you hit that (377) mark (which I really still doubt) this wouldn't change shit, because you always go $10 north and $20-30 south, and trade side ways till the next crash....
I still think that Bictoin Price is a bubble that will burst to pre-bubble price ($100-150), after that we will have a slow and boring growth.
I don't know if 377 is exactly right
I don't know if my timing is right.
But I am sure of the direction. And i am sure 277 was the bottom and I am sure you'll never get to buy at sub 330 again.
You don't have to believe me.
I actually hope it hits 377...it will just be one more peak for the day traders to cannibalize.
The long term trend is down...and why not...Bitcoin is a pain in the ass to use so why invest in it?
If someone has Bitcoin then fine...its easy as hell to use...but the majority of people on the planet don't have any Bitcoin.
And yes Bitcoin is better than fiat...we all know that but why would someone pay to convert their sovereign currency into what amounts to a foreign currency just to buy something?
The real revolution here is the blockchain technology...not Bitcoin.
Here is a good question for all the conspiracy theorists out there...if a single person owns all the Bitcoin could they make a patent claim on its blockchain technology?
145.
Post 9337472 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
in 32 Hours the price according to my sources will be $377 (+/- 5) How is this working out for ya?
Pretty well...
so like i said 1am UK time we will hit 377 +/-5
2 more spikes, and by the time China is eating corn flakes, we'll be close to 377.
but don't hold me to exactly 1am. might be a few hours late.
you keep saying the same thing over and all over again, suppose you hit $377, then what ? why is $377 important to you ? what would this change?
it is $377, it is not like we are going to hit $600 or $800, I am pretty sure that even if you hit that (377) mark (which I really still doubt) this wouldn't change shit, because you always go $10 north and $20-30 south, and trade side ways till the next crash....
I still think that Bictoin Price is a bubble that will burst to pre-bubble price ($100-150), after that we will have a slow and boring growth.
I don't know if 377 is exactly right
I don't know if my timing is right.
But I am sure of the direction. And i am sure 277 was the bottom and I am sure you'll never get to buy at sub 330 again.
You don't have to believe me.
Bitcoin is a pain in the ass to use so why invest in it?
If someone has Bitcoin then fine...its easy as hell to use...but the majority of people on the planet don't have any Bitcoin.
"Telephones are a pain in the ass to use so why buy one?
If someone has a telephone then fine...its easy as hell to use...But the majority of people on the planet don't have telephones. "
Seriously...your using a telephone as an ease of utilization example?
146.
Post 9337490 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
....
Here is a good question for all the conspiracy theorists out there...if a single person owns all the Bitcoin could they make a patent claim on its blockchain technology?
No, open source prior art. It would be nice to see someone try though, SCO wiped themselves out trying something like that with Linux
Ya I remember that actually.
147.
Post 9337664 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
in 32 Hours the price according to my sources will be $377 (+/- 5) How is this working out for ya?
Pretty well...
so like i said 1am UK time we will hit 377 +/-5
2 more spikes, and by the time China is eating corn flakes, we'll be close to 377.
but don't hold me to exactly 1am. might be a few hours late.
you keep saying the same thing over and all over again, suppose you hit $377, then what ? why is $377 important to you ? what would this change?
it is $377, it is not like we are going to hit $600 or $800, I am pretty sure that even if you hit that (377) mark (which I really still doubt) this wouldn't change shit, because you always go $10 north and $20-30 south, and trade side ways till the next crash....
I still think that Bictoin Price is a bubble that will burst to pre-bubble price ($100-150), after that we will have a slow and boring growth.
I don't know if 377 is exactly right
I don't know if my timing is right.
But I am sure of the direction. And i am sure 277 was the bottom and I am sure you'll never get to buy at sub 330 again.
You don't have to believe me.
Bitcoin is a pain in the ass to use so why invest in it?
If someone has Bitcoin then fine...its easy as hell to use...but the majority of people on the planet don't have any Bitcoin.
"Telephones are a pain in the ass to use so why buy one?
If someone has a telephone then fine...its easy as hell to use...But the majority of people on the planet don't have telephones. "
Seriously...your using a telephone as an ease of utilization example?
I'm using a analogy to explain the network effect to you, yes.
That's because the perceived value of a telephone has increased...saves the time and money required to travel somewhere to talk to someone.
There needs to be perceived value in order for the network effect to gather steam.
Please explain to me what the perceived value of Bitcoin is?
148.
Post 9338872 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
I have a question for those who still believe in a crazy price rise and mainstream adoption.
It's been 6 years. 99.9999% of the world out there doesn't give a shit about Bitcoin, bank fees, decentralization and so on.
Why do you think that after 6 years (six!!) this suddenly will change?
How delusional do you have to be to believe this?
The internet is a good example.
1989 http was released. not really mainstream until 2000.
The perceived value of http was that it provided a user friendly interface for viewing material over a network...this saved the time and money required to run down to your local porn shop to get your fix.
149.
Post 9339187 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
...Mainstream use of phone started like that yes.... phone technology did not. There was lots of work in infrastructure first, what we now see in bitcoinland. I'm sure with bitcoin it won't take many decades, don"t you think?
Allright, Bitcoin is more useful than the telephone. And the people who got the first phones, the early adopter visionaries, all got filthy rich.
You are either really bad at analogies or really good at creating false analogies.
You realize that the original analogy is contrived gibberish too, right? Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.
The network effect? Sure, but how does it factor in? Can it help us evaluate the soundness of buying and hodling Bitcoin? Would the resulting model be verifiable/falsifiable?
If network effect was the dominant factor here, it should be reflected in Bitcoin price. It isn't--the price has been plummeting for close to a year now. Intentional avoidance of inconvenient evidence like this is typical of libber thinking: Latch on to a simple-to-grasp, intuitive analogy, and ignore all IRL data which contradicts it.
Again, the network effect is a concept--it's used to illustrate why things happen after they happen. As a model it has no predictive power, it can't tell you that shit will/will not happen. More sophistry and illusion--commit it then to the flames
It does reflect in the price, just look at long-term graphs. Short-term there are other things factored in like market psychology.
The network effect:
https://blockchain.info/en/charts/hash-rate?showDataPoints=false×pan=2year&show_header=true&daysAverageString=7&scale=0&address=https://blockchain.info/en/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=Back to school kid!
The number of transactions does not equate to Bitcoin adoption rate...transaction rates can be manipulated.
The question is motive...how about more transactions equal more blocks...more blocks equal more new coins for the miners.
150.
Post 9339677 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.
There are way better alt coins for that.
Altcoins
Since Bitcoin has failed and soon will be dead any other coin with better features can take its place.
I think "failed" is a strong word.
Blockchain technology is revolutionary and it very well may change the world.
I would like to see Bitcoin end up as the ultimate currency for loyalty points programs world wide.
151.
Post 9340554 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.26h):
Please explain to me what the perceived value of Bitcoin is?
Other than being decentralised, frictionless, borderless, non counterfeitable, cryptographically secure and algorithmically scarce?
Everyone on here knows that Bitcoin is better than fiat however, for the rest of the world if they don't have any Bitcoin...why should they go through the hassle of using it?
152.
Post 9369562 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.27h):
Can we please stop all this foolishness and get Bitcoin down to what its supposed to be at....$0.99?
153.
Post 9377468 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.27h):
$275 right around the corner
154.
Post 9382397 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.28h):
I see that there is some really strong support at $0, no way we go under that...
your such a bear...$0.99...no lower.
155.
Post 9404385 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.28h):
$275 here we come!!!
156.
Post 9406687 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.28h):
$319.88 here it comes again!
157.
Post 9414012 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.28h):
Price goes down very slowly... hope that something happen and price will rise up because price is too much low now
Don't worry. It'll go up eventually and when it does you'll be smiling you 'survived' this bearmarket.
Even all the trolls in here want it to go up once they buy in. They just don't want you to know.
Why will it eventually go up?
Why do so many here act like that is a fact, like it's guaranteed.
Bitcoin is not some company that'll go bankrupt and disappear.
It's a resilient technology that won't go away for many generations to come.
This 'going down' is a correction of the last bubble which had too many weird anomalies like the willy-bot and mt.gox collapse.
There is simply too much going for this tech to just vanish and bitcoin going to zero.
Today I bought some more
.
the technology is the blockchain
the coin can die, the tech will survive
The way I look at it, blockchain technology may be the biggest contribution to information system as well as humanity in this century. An idea much too far ahead of its time.
Blockchain technology has the possibility of decentralizing governments not just banks. Maybe this is why the establishment fears this technology so much...it could basically make them obsolete.
If I had to put my tinfoil hat on...for a measly $4.4Billion the establishment is slowly buying up all the Bitcoin not to make money...but to collect them all and destroy them one day.
To the establishment Bitcoin is a weapon of mass destruction.
Just my 2 cents.
158.
Post 9414148 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.28h):
This pretty well says it all...someone is collecting Bitcoin.
http://bitcoinrichlist.com/top100
159.
Post 9427944 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.29h):
I do...waiting for $0.99...this seems like a fair market value to me anyway.
160.
Post 9626743 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.34h):
The more I read this thread the more I think that BTC cannot be speculated.
161.
Post 9630655 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.34h):
Why are people deleting their old posts?
162.
Post 9630759 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.34h):
Why are people deleting their old posts?
Because it's all garbage?
They have nothing better to do.
Which says a lot about them.
My son, are you right with your God?
Isn't this kind of silly?
163.
Post 9743779 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.37h):
I met some Chinese the other day. Fairly young, technically minded. At the end of the meeting, i asked:
- Have you heard about bitcoin?
- Yes it's forbidden.
- Well China is the biggest bitcoin country, with the largest exchanges...
- There are some black markets, but it's forbidden.
- ... and the largest mining operations.
- It's forbidden.
- That's just CBOC trying to talk it down...
- No it's forbidden.
Sounds like a true socialist.
Unfortunately everything that is forbidden is destined to grow...as long as it does break the ten commandments more or less
164.
Post 9852497 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.39h):
Shes really dumping now
165.
Post 9868078 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.39h):
$275 here we come
166.
Post 9868194 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.39h):
$275 here we come
Have you engaged the BearWhaleBride for that festival you are you just hoping?
The one week charts pretty well sez it all.
The price has flatlined since the beginning of November...so the price has had a chance to either go up or go down.
All indicators right now are that it will go down...yet again.
167.
Post 9874524 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
Next stop $275
168.
Post 9889631 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
do you guys expect a price to sub $200?
LOL
Keep dreaming.
why do you think it is not possible?
It is possible because at the end of the day BTC is like anything else...its only worth what people are willing to pay for it.
Personally, BTC is worth about 10 cents to me. When It gets sub dollar I will be interested in buying again.
169.
Post 9901578 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
There is absolutely nothing on the one week charts that would indicate that BTC is going anywhere except double digits.
Now there might be a bunch a traders out there that can make a bunch of money off the bagholders on the way down but the chickens are coming back to roost on BTC value.
170.
Post 9907389 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
...
Crypto is Darwinistic and the strongest will survive, fiat is imposed and has no competition.
To go along with your social Darwinism silliness for a bit:
Survival of the fittest doesn't imply "survival of the fittest that play fair/by the rules that I like."
It's survival by any means, even if those means are evol gubermint jackbooted thugs stomping on the faces of christlike Bitcoiners.
So yeah... Fiat's king.
There is only one way to wrestle control of money out of the governments hands and that will be all out war in which case the most valuable thing will be bullets.
Be careful of what you wish for because if it happens it won't be pretty.
You can pretty much say bye bye to your suberbs, shopping malls and suvs.
171.
Post 9907582 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
...
Crypto is Darwinistic and the strongest will survive, fiat is imposed and has no competition.
To go along with your social Darwinism silliness for a bit:
Survival of the fittest doesn't imply "survival of the fittest that play fair/by the rules that I like."
It's survival by any means, even if those means are evol gubermint jackbooted thugs stomping on the faces of christlike Bitcoiners.
So yeah... Fiat's king.
There is only one way to wrestle control of money out of the governments hands and that will be all out war in which case the most valuable thing will be bullets.
Be careful of what you wish for because if it happens it won't be pretty.
You can pretty much say bye bye to your suberbs, shopping malls and suvs.
Wait, wat? You're not suggesting the local liber contingent is going to take up arms against their government?
The same kooks who "invested" their money in
BTCeanie BTCabies Bitcoin and won't sell until it's $10K/coin?
I'll hold off on stocking up potable water, beans & ammo for now, but thanks for the heads-up.
My point exactly
172.
Post 9920525 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.
https://blockchain.info/el/charts/difficultyIt's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.
Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's
I often hear "only large industrial size mining farms can be profitable"
This sentiment gets repeated until it is largely accepted as "fact".
But a home miner does not need to lease a large factory space or airplane hangar, and in the winter the electricity is effectively free. So I think the small miners can still compete by virtue of having lower overhead costs.
As an example, my cost right now is approximately $100 per bitcoin mined, and I don't sell any.
Other miners please feel free to chime in...
$100 per coin
including your hardware costs?
I call bullshit with a capital B
173.
Post 9921172 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.40h):
you can call bs, but I get similar numbers - about 100~120 $ for 1 btc.
hardware cost excluded, but most hardware is working for months already. hell, i got bitfury gear which is more than 1 year old and still mining with profit.
Ok Genius....how long for return on investment if I buy one of these?
https://bitmaintech.com/productDetail.htm?pid=00020140926075515819D846Og240603
174.
Post 9944519 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.41h):
Two weeks and we still on the same price 320 -310
Cheaaap coins!!!
This is what everyone begged for for months. So no complaining please.
Why is there no party right now really? I don't get it.
The price is not low enough...that's why.
175.
Post 9945380 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.41h):
There's lots of talk about cheap Bitcoins
So what USD Value do you think a Bitcoin would be cheap ?
I know this is going to piss a lot of people off but I will regard Bitcoin to be 'cheap' when it hits about $20 a coin, of course it will still be cheap at $10 but that's irrelevant.
It will continue to work regardless of what the price is.
I know the relentless greed around here will not agree with the above, the world still needs dreamers though.
You are the one dreaming. 500 million dollars has been invested in bitcoin companies this year and you value the entire market cap at 140 million dollars. Ha!
inca, you are actually making it very clear that you're delusional by this post.
Really? So you think bitcoin is currently 3000% overvalued?
Its at least that...its only worth less than a one dollar to me.
176.
Post 9945652 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.41h):
Its at least that...its only worth less than a one dollar to me.
thanks for wasting our time, with a pointless comment... let me add to my post count shaming you.
..so you see a 21m $usd market cap when all the coins are out or roughly 13m $usd market cap atm, currently at 4billionish hope you're max leverage shorrt. gl and have fun with that
Why would you say something like that...don't you believe in free markets?
177.
Post 9946715 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.41h):
There's lots of talk about cheap Bitcoins
So what USD Value do you think a Bitcoin would be cheap ?
I know this is going to piss a lot of people off but I will regard Bitcoin to be 'cheap' when it hits about $20 a coin, of course it will still be cheap at $10 but that's irrelevant.
It will continue to work regardless of what the price is.
I know the relentless greed around here will not agree with the above, the world still needs dreamers though.
Value is a more a confidence game than anything else.
Something is only worth as much as someone is willing to pay for it.
With that being said, I am willing to pay 0.01USD for 1BTC because that is what it is worth to me.
There may be other people out there that feel differently but unless they can make a good justification as to why I should pay more than that I am going to sit on my fiat.
Just my 2 cents.
178.
Post 9962169 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.41h):
And how is that relevant to Bitcoin value?
179.
Post 9979698 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.42h):
Can someone explain why a double bottom is not forming on the 1w charts?
180.
Post 9980158 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.42h):
All signs point to a big bounce in the next 3 weeks.
what signs?
Heresy detected. Ignored.
I don't understand TA things
It is a serious question
It is actually a very serious question.
If a double bottom does not form on the 1w charts it will be impossible for BTC price to get out of this rut.
181.
Post 10028115 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
What do we think the low could be?
250?
After 275...next stop single digits...then it will stay there because that is all its worth
182.
Post 10028817 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
$272 here we come
183.
Post 10028836 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
I am actually going to make popcorn...for real
184.
Post 10029346 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
Looks like it has leveled out for now but if you look at the 1w charts its obvious Bitcoin is going to continue its downward spiral below $272.
Bitcoin value has come back to roost folks...get used to it.
If your not all fiat right now you will miss the reset when it hits single digits before starting the next bubble.
185.
Post 10030504 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
sold all my 180 btc at 278 hope i am not regret it
So you're 100% fiat now? You're going to regret it imo.
Smart
186.
Post 10030688 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
fuck i think i will regret it big to sell all my btc at $278
The 1w charts say other wise.
187.
Post 10035756 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
Next stop...$9.50...I will start thinking about buying around then.
188.
Post 10036700 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
Serious question:
What's the "fair price" of one bitcoin? and how do you arrive to that conclusion?
Fraction of a dollar.
My conclusion is mostly based on utility. Fiat is simply easier to use than BTC.
I have to pay money to get BTC and then be careful to use it in a timely fashion or risk losing more money.
I view BTC more as a loyalty program token of sorts.
189.
Post 10037744 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
Do you remember ?
"if BTC price drops to $ 800, I will buy all"
I remember getting in around that time.
Since my doctor got me on the right meds however now I am more like a ""if BTC price drops to $ 1, I will buy all".
190.
Post 10037894 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.43h):
jesus, what a price to wake up to. we've dropped below the old ATH. what the heck is going on?
I don't know but until the 1w charts start showing something positive I am staying out.
191.
Post 10039547 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
Ya...what's up with the fucking pony pictures.
192.
Post 10039863 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
Until the 1w charts start stabilizing I would suggest everyone stop panicking.
193.
Post 10039896 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
Its times like this that I scratch my head about the "buy on the way down" philosophy preached by many traders.
Its a great philosophy if whatever your buying continues to have value in your lifetime...not so great if it goes belly up or takes 2 lifetimes to regain its value.
194.
Post 10039925 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
BITCOIN IS DEAD RIP BITCOIN
you better hand any bitcoin you have over to me then
I think the GIF says it all...he has none left
195.
Post 10039947 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
Until the 1w charts start stabilizing I would suggest everyone stop panicking.
But the 1week chart has been down trending since June at $640.
You mean they
should be worrying until it stops downtrending???
Everyone should be worried but panic is never good.
196.
Post 10041076 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
The 1HR chart on wisdom is the saddest thing I've seen in a while
Sadder than the 1D chart?
The 1w chart has the beginnings of a green candle
197.
Post 10052408 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
If this happened in the real world it would be serious but its a Bitcoin Exchange so everyone just sits tight like its normal.
198.
Post 10052810 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.44h):
As every hour ticks by more and more bad shit seems to be creeping into this story.
Question is...what's the collateral damage going to look like?
199.
Post 10087140 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.45h):
Oh my, these posts are going to be so funny to read when Bitcoin is $100k. People arguing over 10's of dollars lol !!!!
In a few years $10 will be worth nothing assuming the dollar fails to be the world reserve currency and people lose faith in it.
Fiat paper is simply....toilet paper with ink on it.
I believe that a lot of Fiat currencies are in for trouble in 2015 - Russia, The Euro, Turkey, Argentina, Russia's satellite states (such as Belarus) and even some Asian currencies mixed up in the devaluation currency war between China and Japan.
But of all the currencies out there, I think the USD has the biggest chance of thriving. The US has the biggest economy, it has the most advanced military, it has the rule of law, it has a crap ton of food/resources and it has a strong, dynamic and growing economy.
Think about this - where would you want to keep a couple million dollars for 5 years? In China it can get confiscated, Japan is a QE freakshow with a declining population, in Russia your fate is tied to Putin and Oil, the Eurozone is about to go through some serious shit with Greece again, and most other places (except for the tiny nation of Switzerland) are a complete gamble. I don't get all these "US dollar will be worthless" people. The USD is the safe place to keep big pools of $ long term - bearing any major unexpected political or social black swan that knocks America down a peg or two.
The people who need BTC aren't Americans, its those poor bastards buying toasters and flatscreens to try to save their quickly depreciating savings.
Just my 2 cents.
The fed will keep bailing banks and keep interest rats low with citizen dollars. Let's see how long...
Until a bond market revolt. Then it's either a deflationary depression that will make the 1930s look like the good ol' days or (more likely) a hyper-inflationary mega recession that ends with a failed currency. One of these two things has to happen eventually (barring the discovery of cold fusion or some other miracle tech), and it's impossible to hedge against them both. It's death by fire or ice. International trade will have to be done very creatively if at all.
At the end of the day if things get as bad as all the BTC fan-boys hope it gets concerning other currencies...BTC and everyone other currency will be worthless.
The most valuable things will be food, water, shelter and bullets.
200.
Post 10088462 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.45h):
eat the cat
feed the cat to the dog then enjoy a fried doge
lol...that's a little bit funny
201.
Post 10106505 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Is it safe to assume that since around July 2014 there have been more sellers than buyers of Bitcoin?
And if so, this is the main reason that Bitcoin has steadily decreased in value since then?
Is it possible that Bitcoin is simply in a deflationary cycle?
Aren't deflationary cycles one of the features of Bitcoin?
Is it possible that what we are going through is a "feature" and not a "bug"?
I don't see why people that believe in Bitcoin are so against seeing it go to fractions of a dollar...maybe its supposed to be this way?
I think everyone would be fine if they stopped treating Bitcoin like fiat.
202.
Post 10106866 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
...
I don't see why people that believe in Bitcoin are so against seeing it go to fractions of a dollar...maybe its supposed to be this way?
I think everyone would be fine if they stopped treating Bitcoin like fiat.
What are you talking about. If I believe in bitcoin, then I want many people to use so I do not have to transact in fiat ever again.
You're in a spec thread where people treat btc like fiat and make profit trading
Fair enough...this is a speculation thread...so why aren't people speculating then?
There is money to be made on every fluctuation of BTC price...why are people panicking?
203.
Post 10106977 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Does anyone expect price to rise soon? I told my church that bitcoin was misunderstood by the media and that it's actually the best form of money ever created, because it's for the people and not controlled by greedy bankers. The pastor agreed that Christ himself would have approved and they invested a small fortune. But he's getting worried now, because the price keeps going down. What should we do?
Pray and hope for salvation ?
I don't see BTC going to pennies a problem...I see it as its salvation...and I believe so would Jesus.
204.
Post 10108491 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Following our logcharts from 2013 we should be a bit higher in price, not?
Long time since it was posted last time.
everything is still fine!
This chart is not the 2013 log chart! This chart was called the bear-troll baseline chart in 2013! The chart for delusional, trollish beartards!
What's the price got to drop down to before we should start panicking?
Never panic...only speculate...or you will lose money.
205.
Post 10116261 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Funny part is that people seems to forgot, that Bitcoin price can double in less than month with not a big problem.
We saw already many rallies. Worrying about low price is just waste of time.
Sit back, relax. get money to buy more BTC. That's all.
I have to agree...panicking is not the answer.
Even if BTC goes to fractions of a dollar it can bounce back to $10,000 the following year.
BTC is not controlled by any bank or government agency...it's value can be anything.
I think if people stopped treating BTC like fiat there would be a lot less panic.
206.
Post 10116528 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Funny part is that people seems to forgot, that Bitcoin price can double in less than month with not a big problem.
We saw already many rallies. Worrying about low price is just waste of time.
Sit back, relax. get money to buy more BTC. That's all.
Sure. Just too bad it won't happen anymore. You should be very worried about the low price. Or the fact that Bitcoin turned into nothing more than some pump and dump coin like the 1000 alt coins out there.
Crypto-currency is allowed to have pump-and-dump schemes.
The biggest fools in crypto-currencies actually believe that the price has anything to do with its survival.
Cryto-currencies are not like fiat...if everyone just accepted that I think there would be a lot less pain.
207.
Post 10117391 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Who cares how many $ one bitcoin is worth?
Who cares about that? Seems like you're going by the dollar standard. It's filthy fiat, forget about that. In the near future, bitcoin will take over and $ will be a thing of the past.
The price in $ is completely irrelevant.
There is just no way to know when that future will be?
1year...10years...100years?
Lay down your bets folks.
208.
Post 10117973 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
...
And permabears gonna permaFUD.
Protip: It's called facts. If you just listened, your "holdings" would be worth twice what they are right now.
As much as I hate NotLambchop I have to start agreeing with him.
Why don't we all get this thing down to single digits again so we can build the next bubble?
209.
Post 10118397 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
The majority of bulls have made a lot of money
Tell that to the folks who bought in at 400+. Given how high the price went, I would think they would make up a decent percentage of the bulls (especially if they're still holding), no?
Well i was late to the party and i bought most of my coins in march/april 2013. I am still in the green despite buying in 2014. I was massively better off from this particular punt last year but that is life
Whoever is driving the price down week after week knows exactly what they are doing. If it is miners then it is not in their interests to destroy the very commodity they are mining by crashing the price. Miners sell for income. It is exactly the wrong way to sell your coins in that context to dump thousands of coins on exchanges every few days and by doing so reduce the price for your next sale.
My only real concern has been our friends in the central banks. Bitcoin would be the only market they werent directly manipulating if they are not involved already. Could they destroy bitcoin? Dropping the price aggressively would be a great strategy. We already have some features of the gold market rigging in bitcoin - price moving sharply downwards on good news for example. The best way to dissuade new entrants to the market is to keep the price incredibly volatile and prevent it from rising.
That said this is probably just a nasty bear market with a few greedy speculators with total control of the market. Eventually it will be more profitable for the price to rise again.
Why all the conspiracy theories...is it possible that there are simply more sellers than there are buyers?
Why is that when Bitcoin does something strange they attribute it manipulation?
Maybe Bitcoin is supposed to be this way?
210.
Post 10118462 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
I think what this thread needs is a maybe 20 or 30 more trolls and their sock puppet accounts..... I do not think there are enough trolls on here... what this thread needs is more of them, more of the people that hate bitcoin samaritans losers with no life mentally ill obvious is obvious paid shills on here... so please step it up.... by several orders of magnitude... I am not sure you have spread enough shit around yet.... come on.. have more "lels" or whatever you deficient freaks are calling it... please do... it is fucking hilarious, and you know it is like watching a group of 10 schizophrenics in one of those halls of crazy mirrors all barking at each other and chucking their feces at each other and eating it.. basically... the lunatics are on the grass. Come on... ramp it up some more... please do, we need more of you I have decided... at least if you are here wasting your lives 24/7, 365 then you are not out here in the real world.. and I like the thoughts of you guys wasting your lives, sedentary, keyboard warriors, just wating for obesity and heart attacks to shuffle you off this mortal coil.. I really do.. please waste your lives posting basically all day and nighht every day of the week even over Christmas (ha ha ha ha sad lonely fuckers) but as keyboard warriors make sure you have ample wrist support and do some screen cover for your eyes and also do some exercises to prevent the deep vein thrombosis, because when it comes it would be much more, how is it you phrase it "lel" if it is a massive heart attack that takes you, and you shit and piss your selves.
Love you gays, please do step up your efforts, if I see x 20 or 30 more activity and troll presence to this thread, I will start handing out beers.
Those beers maybe attached to bricks and more thrown, than handed but hey lets not split hairs.
Looking forward to the insane troll circle jerk freak show...
thanks.
Ok fair enough...its a freak show.
But it doesn't mean everyone on here doesn't have a real life...some of us do.
And not everyone who thinks that what is happening with BTC is a bad thing...some of us are waiting watching and learning.
At the end of the day...everyone on here thinks BTC is a good thing and that it will survive whatever gets thrown at it.
It just may not do it the way everyone thinks it is supposed too do it.
BTC is not fiat!!!
211.
Post 10118513 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
I think what this thread needs is a maybe 20 or 30 more trolls and their sock puppet accounts..... I do not think there are enough trolls on here... what this thread needs is more of them, more of the people that hate bitcoin samaritans losers with no life mentally ill obvious is obvious paid shills on here... so please step it up.... by several orders of magnitude... I am not sure you have spread enough shit around yet.... come on.. have more "lels" or whatever you deficient freaks are calling it... please do... it is fucking hilarious, and you know it is like watching a group of 10 schizophrenics in one of those halls of crazy mirrors all barking at each other and chucking their feces at each other and eating it.. basically... the lunatics are on the grass. Come on... ramp it up some more... please do, we need more of you I have decided... at least if you are here wasting your lives 24/7, 365 then you are not out here in the real world.. and I like the thoughts of you guys wasting your lives, sedentary, keyboard warriors, just wating for obesity and heart attacks to shuffle you off this mortal coil.. I really do.. please waste your lives posting basically all day and nighht every day of the week even over Christmas (ha ha ha ha sad lonely fuckers) but as keyboard warriors make sure you have ample wrist support and do some screen cover for your eyes and also do some exercises to prevent the deep vein thrombosis, because when it comes it would be much more, how is it you phrase it "lel" if it is a massive heart attack that takes you, and you shit and piss your selves.
Love you gays, please do step up your efforts, if I see x 20 or 30 more activity and troll presence to this thread, I will start handing out beers.
Those beers maybe attached to bricks and more thrown, than handed but hey lets not split hairs.
Looking forward to the insane troll circle jerk freak show...
thanks.
Ok fair enough...its a freak show.
But it doesn't mean everyone on here doesn't have a real life...some of us do.
And not everyone who thinks that what is happening with BTC is a bad thing...some of us are waiting watching and learning.
At the end of the day...everyone on here thinks BTC is a good thing and that it will survive whatever gets thrown at it.
It just may not do it the way everyone thinks it is supposed too do it.
BTC is not fiat!!!
I was not aware you were one of the prolific sockpuppet.troll accounts that posts on here 24/7 everyday
lol...I will take that as a compliment.
212.
Post 10131598 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
$262?
213.
Post 10131628 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Do we have $255?
214.
Post 10131668 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Everyone busy gobbling up these cheap coins?
Not enough people fighting for them obviously.
215.
Post 10131890 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
How about $195???
Do we have 1 9 5?
??
216.
Post 10131907 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Bam, and a new low on Houbi and OKCoin.
Anyone brave enough to fill their boots right now?
I did the impossible and sold a third of my stash at 270 this morning.
I was almost certain that would mark the bottom but I see the selling continues.
Now the question is when to buy back?
$0.99
217.
Post 10131943 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Wow...I can't believe I am here to watch this shit go down!!!
Remarkable...totally remarkable.
This is kind of like when it went to $1100 but opposite!!!
218.
Post 10131989 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Interesting, where will be the next stop. 250 is like no resistance.
$195 is the next stop on the 3d charts
219.
Post 10132147 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
The red candle on the 2h chart looks darn right nasty!
220.
Post 10132239 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
If it goes below $100 its time to transfer some money over to my exchange account...if it hasn't gone belly up by then.
221.
Post 10132359 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Did you say capitulation?
Someone is buying every coin sold!
Not enough people obviously...or the price would be going up.
222.
Post 10132375 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Time to figure out how to use my cold storage device?
I think it's in my safety deposit box. Bank not open for 7 more hours...
Thankfully the market should have recovered by then.
Better make sure you do it right or you could lose them cold storage coins forever.
223.
Post 10132432 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Looks like we will bottom out at $253.10...massive wall.
224.
Post 10132460 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Do you guys think it will ever recover back one day?
Yes and higher
225.
Post 10132545 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Do you guys think it will ever recover back one day?
I think everyone still thinks in fiat market cycles when they deal with BTC.
Anyone who thinks they can predict BTC is a fool...it will do things never ever imaginable in controlled markets.
This is one of the things which makes it so interesting to me...you can't buy this kind of entertainment...heck I have pretty well stopped watching TV watching this wild ride.
I understand it may be painful for some people but anyone who has dipped into the BTC pool has felt the same pain to some degree.
The only limit to BTC is our imagination.
226.
Post 10132643 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Do you guys think it will ever recover back one day?
The speculative Bitcoin fad is over. Bitcoin will go back to single digits now. A lot of cultists, bulltards, early adopters and other bagholders will commit suicide in the coming months.
I might do you wrong but I just can make out if this is biased or sarcastic, both, or simply unhappy.
He Speaks The Truth.
I've already killed myself. This is an automated bot designed to respond every time suicide is mentioned.
Ok...whether this is true or not its still a little bit funny
227.
Post 10132655 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Dudes, when do the rewards get cut?
2016 sometime, right?
Reward-Drop ETA: 2016-07-30 09:40:46 UTC (80 weeks, 4 days, 10 hours, 40 minutes)
228.
Post 10132728 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
So ya...heading for $195 again
229.
Post 10132745 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Anyone not panicking now has balls of steel
230.
Post 10132811 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Just watching the red and green transactions on Huobi....like Godzilla and King King trading punches
231.
Post 10132816 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
Battle fucking Royal going on
232.
Post 10133217 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.46h):
bitcoin has too much backing to be scared of it dying.
You mean its too big to fail?
233.
Post 10159873 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.49h):
I am not doing fuck all until the 1w charts start looking a little better
234.
Post 10160107 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.49h):
I am not doing fuck all until the 1w charts start looking a little better
To be fair, last time when the 1w chart was looking "a little better" was a pretty horrible spot to buy anyway.
When was that?
235.
Post 10160404 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.49h):
So which one of you tools sold at the bottom?
wasn't me. i didnt do it.
It's too early to say that WAS the bottom. I think it prolly was, at least until the next cycle, so I leveraged up a whopping 2.4% with a liquidation price of $5 bucks just for shits and giggles. I'm just not that enthusiastic about this round. I think maybe the FPRs might have killed their golden goose.
EDIT: Either that or they're waiting for another bear whale before they really start the next pump.
The 1w charts have to at least start looking up before I jump back in...I may not catch the very bottom but it will be close enough.
236.
Post 10160415 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.49h):
We need a reset to 2 or even 1 digit numbers, before the story with mtgox and its money from thin air. Maybe another bearish year will fix bitcoin.
Even though I have no technical reason I have to agree with you purely on what my personal valuation of BTC.
It isn't worth much more than single digits to me personally so I am reluctant to jump back in until then.
237.
Post 10160574 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.49h):
We need a reset to 2 or even 1 digit numbers, before the story with mtgox and its money from thin air. Maybe another bearish year will fix bitcoin.
Even though I have no technical reason I have to agree with you purely on what my personal valuation of BTC.
It isn't worth much more than single digits to me personally so I am reluctant to jump back in until then.
What if it never hits single digits?
I have other investments.
238.
Post 10181882 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Later bitcoin will worth back to $1 $0.1 $0.01 $0.001 ... nothing
The dollar will go to nothing before bitcoin. Every national paper currency that ever existed in all history eventually lost all face value. The dollar will too. Bitcoin is different because it is not national or paper. The sovereign backing Bitcoin is the internet.
Your right...unfortunately when this happens the most valuable thing will be food, water, shelter and bullets....not BTC
239.
Post 10181972 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Later bitcoin will worth back to $1 $0.1 $0.01 $0.001 ... nothing
The dollar will go to nothing before bitcoin. Every national paper currency that ever existed in all history eventually lost all face value. The dollar will too. Bitcoin is different because it is not national or paper. The sovereign backing Bitcoin is the internet.
Your right...unfortunately when this happens the most valuable thing will be food, water, shelter and bullets....not BTC
Only if you are a bag holder left with US citizenship and a mattress stuffed with Federal Reserve notes.
Are you trying to say that if the US dollar collapses there will be place in the world where all the BTC holders will live in Shangri-La?
240.
Post 10182549 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
For all you waiting for <$200 coins..
I think you might be waiting a while
What exactly does that mean?
241.
Post 10182706 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Later bitcoin will worth back to $1 $0.1 $0.01 $0.001 ... nothing
The dollar will go to nothing before bitcoin. Every national paper currency that ever existed in all history eventually lost all face value. The dollar will too. Bitcoin is different because it is not national or paper. The sovereign backing Bitcoin is the internet.
Your right...unfortunately when this happens the most valuable thing will be food, water, shelter and bullets....not BTC
That's ridiculous but I've heard it repeated many times. People will just switch to a better currency or money to trade. We aren't going to regress to beyond the retard age just because paper's true value is discovered.
Papers true value is not any different than BTC value...its all a confidence game.
242.
Post 10182816 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Later bitcoin will worth back to $1 $0.1 $0.01 $0.001 ... nothing
The dollar will go to nothing before bitcoin. Every national paper currency that ever existed in all history eventually lost all face value. The dollar will too. Bitcoin is different because it is not national or paper. The sovereign backing Bitcoin is the internet.
Your right...unfortunately when this happens the most valuable thing will be food, water, shelter and bullets....not BTC
That's ridiculous but I've heard it repeated many times. People will just switch to a better currency or money to trade. We aren't going to regress to beyond the retard age just because paper's true value is discovered.
Papers true value is not any different than BTC value...its all a confidence game.
If you can't figure it out, I don't have time to explain. Sorry
Oh I get it...I am a part of it...unfortunately, not everything in this world that is useful is desirable.
243.
Post 10187560 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Who would have thought that the drug dealer subculture would be the best place to get schooled in currency trading.
It actually makes sense since there is only one degree of separation between hard core currency traders and drug dealers anyway.
Hey there is a statistic...how much does the average currency trader spend on drugs every week?
244.
Post 10188979 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
Oh great...I just sold my stash...couldn't you have told me this sooner?
It's going to take 3 days for me to make a bank transfer.
Do you think it will stay at 200 until then?
245.
Post 10191418 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.50h):
Nothing to add...
I can buy 30% less smack now than I could last week. Bloody ridiculous
Silly me, I spent some BTC at newegg.... BTC is only used to buy drugs? I must have missed the boat on this one...
You're kind of missing the point. You can also use a credit card at newegg, which for the vast majority of consumers would be easier and more convenient than using bitcoin.
Can't use a credit card to buy drugs, though.
False. Squareup.com turns every drug dealers iPhone into a credit card processing machine. I was just reading an article about how apps like that are allowing drug dealers, bookies, etc. take CC payments.
Way to get famous:
1. Be a criminal who uses Bitcoin
2. Go to university and enroll in sociology program
3. Write a Thesis on the influence of criminals on the development of society (good or bad)
4. Profit and world wide attention
Damn I wish I was younger.
246.
Post 10223185 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.51h):
Can't help feeling like big dumps incoming.
247.
Post 10242900 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
1w charts still pointing down
248.
Post 10243206 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Sub 200 by Sunday.
249.
Post 10256986 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
250.
Post 10257558 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
If you did that back in June you would have bought at the top.
Ummm...no...I would have bought at $450.76
251.
Post 10257609 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
If you did that back in June you would have bought at the top.
Ummm...no...I would have bought at $450.76
And sold at $610.41
252.
Post 10257620 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
If you did that back in June you would have bought at the top.
Ummm...no...I would have bought at $450.76
eh? On what date was the price $450 AFTER three green 1w candles?
11May
253.
Post 10257640 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
If you did that back in June you would have bought at the top.
Ummm...no...I would have bought at $450.76
eh? On what date was the price $450 AFTER three green 1w candles?
11May
So 3 green candles on 11May at $450.76 and 3 red candles on 20Jul at $612.23
254.
Post 10257695 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Not getting back in until I see 3 successive green candles on the 1w charts.
Obviously I won't get in at the bottom but it will at least be on the way up.
If you did that back in June you would have bought at the top.
Ummm...no...I would have bought at $450.76
eh? On what date was the price $450 AFTER three green 1w candles?
Check Stamp and BTC-e - 19th May
Huobi and BFX would have had a very different outcome though ...
255.
Post 10260688 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
On to our second green candle on 1w charts...hope it holds.
Might just have to charge up my exchange account soon.
256.
Post 10260775 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Wow...really nice climb happening here...not sure if I can wait 2 more weeks to buy
257.
Post 10260972 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
so how much should I transfer over to my exchange account?
258.
Post 10261105 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.52h):
Great show folks...you cant buy this kind of entertainment
259.
Post 10262063 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.53h):
260.
Post 10262114 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.53h):
261.
Post 10262127 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.53h):
when does china wake up?
262.
Post 10262607 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.53h):
And of course, my $289 sell order that I pulled would of been perfect
Always this shit...
Dont worry you'll probably get another chance to sell at 289 on the next surge upwards
At which point he will be gagging to re-buy at $310
wow
https://www.youtube.com/watch?v=WBsxLMCA8R8Internet too slow, whats the jist of it?
"the next 72 hours are
critical"
(edit: said some time on friday)
The next 2 weeks is critical...if this doesn't hold...buh bye buy
263.
Post 10315818 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.55h):
some one is trying their god damn best to crash the market but it just isnt happening lol
It looks more like they are trying to get out above 1400 CNY before it crashes.
Oh come on, it didn't look like it was going to crash at all before this okcoin kamikaze move, we've been bumping up from 1400 CNY / 220 USD long enough to see it wasn't going to drop lower any time soon. This Chinese "drop" looks highly artficial to me - only huge dumps without accompanying smaller drops. Seems like nobody really wants to follow.
From what I've observed, the amount of BTC to 220 USD on bitfinex got a little below 6k for a moment, now it's back at 6300. If it goes back to 10k after this flash crash attempt, it seems inevitable that we're going up.
I, for one, am going to sleep. All in BTC. Good night, gentlemen.
was thinking the exact same thing..
still, 5 red candles in a row :/
We are heading for another red candle this week...people who are not thinking about selling bitcoin are not very smart
264.
Post 10323710 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.55h):
I know this sounds like some bullshit conspiracy theory chant that repeats itself on this forum but...anyone who is still holding BTC would be doing the smart thing right and get rid of it...let it crash and buy back in at fractions of a dollar.
Bitcoin is like a junkie on the street...no hope for rehab until its completely scrapping the bottom of the barrel.
265.
Post 10325656 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.55h):
How low can this possibly go? I'm thinking 160ish
How about $0.99?
266.
Post 10443499 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_13.58h):
Where are all the predictions and YouTube videos for bitcoin going over $10,000?
How is that any more ridiculous than Apple having a market cap of $700 Billion? in order for one BTC to be worth $10,000, the market cap would only have to be $210B or less (depending on how many bitcoins have been mined when it happens), less than 1/3 of Apple Corp's current value.
Well, when you buy some Apple stock, you become owner of a slice of a huge company, that makes 70'000 USD of
profit every second, by manufacturing and selling more than 10 million high-quality computers and smatrphones per month, that people literally give a kidney for. Whereas, when you buy a bitcoin....
There is no rational reason why an Apple phone or computer is substantially more desirable than one of it's many competitors. It's simply a preference and preferences change. The desire to own bitcoins (which can be looked at as shares in the Bitcoin network) is also a preference. The demand for Apple products may go down, particularly if they fail to keep innovating at a pace and in a way their customers expect. The demand for bitcoins may go up if innovation in the space makes them more useful.
There are plenty of rational reasons why an Apple computer or phone should be substantially more desirable than any of its competitors. And there is a serious barrier to Bitcoin going mainstream. And if you look at those cases one explains the other.
Name one single rational reason
267.
Post 10551447 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_14.00h):
Sigh...so damn close to 3 green bars in a row on the 1w charts!!!
Oh well...back to the drawing board.
268.
Post 10551503 (copy this link) (by pjviitas) (scraped on 2020-04-04_Sat_14.00h):
Sigh...so damn close to 3 green bars in a row on the 1w charts!!!
Oh well...back to the drawing board.
Oh wait...that's 2 green bars...one more to go...come on bitcoin!!! One more week of the good stuff and I am back in the market.
