Sell me this pencil

This post explains what happened to the BTC price today:

Why I don't own BTC right now:


It would be different if this was the number one priority for Bitcoin development, but it seems to barely even be a side issue.  The entire BTC protocol is busted from the top down until this is solved.

First all male civilization to reproduce asexually?

The effects of these meaningless $10 steps that are a part of normal BTC fluctuation suddenly become a lot bigger deal when you're at this price level o_O.  Even though the number 300 means absolutely nothing for technical purposes, shit is gonna hit the fan if it breaks that, but I highly doubt it's gonna just crash through previous ATH.

The main problem I see right now is these Ethereum fuckers just sitting on an ocean of coins they want to unload to buy private islands.  I can see them crashing the market from anywhere all the way down to 260's if they try hard enough, but not breaking that level.

ETA until Ethereum fires the ground to air missiles to vaporize the rocket?

I should have been more specific.  I meant the Ethereum IPO money crashing the BTC buy side walls.  I don't really have any faith in the success of Ethereum itself.

Ethereum just moved 1400 or so BTC to sell btw.  Price should be going lower.  I have a feeling some organization like the Carlyle group will leverage the Ethereum down pressure to bottom out BTC then buy it up during some time frame in the next few months.

I made a pretty solid case that if BTC does not go below previous ATH levels, which most people don't expect it to do, that BTC has already entered savings account level of interest rates (5%ish per year) in a bad case scenario where the price only remains stagnant but BTC keeps on surviving:

https://bitcointalk.org/index.php?topic=837260.msg9353457#msg9353457

Your signature above.  After fiat collapses, what do you expect people to be using?  Gold?  Barter with seashells?  Obviously gold will be around, and all Bitcoin has to do is survive until that moment of fiat implosion happens to catch much of the same incoming cash flow gold receives.

Behold, the orchestrated volumeless rally

Price is retreating right back to the average I put forth in this post:

https://bitcointalk.org/index.php?topic=837260

The r0achanomics spread shows $350 as the short term equilibrium price:

https://bitcointalk.org/index.php?topic=837260.0

People will be piling into both gold and bitcoin, but only after the stock market bubble implodes.  My more drawn out post on why:

https://bitcointalk.org/index.php?topic=915140

The stock market bubble will implode after this trading strategy ceases to function:

http://www.youtube.com/watch?v=0akBdQa55b4

Nobody knows the answer to things like this since it's all testing the boundaries of Keynesianism, or how long can a population be held hostage and forced into certain asset classes to avoid loss of wealth.  It's a "greater fool" situation relying on multiple parties, quasi-government kosher reserve and traders/investors, much of which is dumb money retirement funds.  

Obviously, they'll initiate a controlled demolition to enrich themselves and their cronies on insider information as soon as the Keynesian policy is completely unsustainable, but only Warren Buffet or Jimmy Buffet knows when that happens.

The next interesting price would probably be the energy cost of production, which I think is around $150, then you have the hardware costs on top of that.  It's already under total cost of production, but I think the energy cost of production number is probably a big thing.

Bitcoin might be the only asset in world history where at any given moment you feel like you should either sell everything or go all in simultaneously.

With Bitstamp leading this crash, feels like some kind of fishy MtGox situation going on...

Is that the bearwhale on Bitstamp back in action?

Yea, something fishy going on at Bitstamp.  Keep seeing big sell walls come and go, then wall disappears and 400 coins dumped, then sell wall comes back then off, etc.

Shorters jumping off roofs.

Nevermind, Bernanke and Greenspan have now walled up the red side.

The next 24 hours are critical for the price of Bitcoin if Warren Buffet or Jimmy Buffet were to look at the price of Bitcoin in the next 24 hours.

The biggest margin call in Poloniex history happens soon, then afterwards maybe:

https://bitcointalk.org/index.php?topic=1171109.msg12531970#msg12531970

Bitshares + BTC are the only two coins I hold right now and BTS might be about to do a +2000% soon:

https://bitcointalk.org/index.php?topic=1200084.0

The plan has always been to wait for inflation to go down (to 12 btc) then pump to the moon.

Halving will take it to $400.  The increased media attention might create another bubble to go much higher.

Didn't stop government insiders from trying to front run the recovery in China under penalty of death.



The price didn't moon yet, you can still get in now.

It doesn't matter at all about highs.  Media everywhere will report "Bitcoin 50% up" and everyone will be like, "OMG Bitcoin not dead and going up, time to sell house for Bitcoin."

Then it's time to.....

LOAD THE SPACESHIPS WITH THE ROCKET FUEL

http://www.youtube.com/watch?v=cF4ZTcuhixc

Bitcoin security model is based around fault recovery instead of fault prevention.  It fails often, as in the case of Ghash getting 50% hash rate that one time, then transient miners fix it.  In the future, there would probably be agencies that monitor hash rate and warn retailers about transacting in large amounts of money during periods of activity like that.  Just like you might not want to move a bunch of gold with a tornado outside.

The auctions don't really negatively or positively affect price.  If anything, they will positively affect it after someone gets a huge stash then tries to manipulate it up.

Nobody is buying coins at an auction when they usually have to pay a premium in order to dump them right after.  Only way this is happening is if nobody bids except like one guy, but that's clearly not the case.

So many forum accts with 2 posts posting "Sell everyting coin go 0 sell now or lose everyting".  I guess that means $400-600 soon.

The next 12 nanoseconds are critical.

I would guess the MMM had between 0 and 0/1 effect on price.

Pretty god damn obvious, at least 500 billion dollars attempting to leave China, some of which is going into Bitcoin, and the halving is just beginning to start to have an initial price effect.  Negative interests rates gaining steam + more China fever + halving all at the same time = the perfect storm beginning.

http://www.armstrongeconomics.com/archives/38474

I whistled for a cab and when it came near, the license plate said bitcoin and it had Jorge Stolfi in the mirror.  If anything I could tell you this cab was rare, but I thought man forget it, yo holmes to $400.

Look at all these shorters losing their shirts talking about MtGox coins LOL.  If MtGox coins are auctioned off, it would be 56 million at current price to many different bidders, not one party.  Sounds higher than your paycheck, but BitFury alone is building a 100 million dollar mining facility right now, so not exactly a big deal.  That and you have billions in VC investment in 2015 alone:

http://insidebitcoins.com/news/bitcoin-venture-capital-funding-pace-1-billion-2015/30665

It's clear that the price per coin is highly lagged behind everything else going on, and these entities can all easily pump it higher, they're just waiting till they accumulate most of them first (i.e. after the 25coin halving since 70% are already mined).

It's hilarious Stolfi is trying to claim Bitcoin is rising due to a Russian criminal that's running some kind of Ponzi scam.  The scam doesn't even have anything to do with Bitcoin, he just accepts Bitcoin as payment, and it's already existed for like 3 years.  You need a sub 80 IQ to even click on them.  In other words, this guy has absolutely nothing to do with Bitcoin price:



It's like trying to claim the price of Bitcoin is going up because of Tai Lopez:

You link to something from 2012 then claim it's the cause of the BTC rise now when you would have to be completely brain dead to believe that.  Better luck with your next conspiracy theory and have fun with your failed short at $250.  I bet you're staring at the screen sweating right now lol.

Sunday is the day when all random slobs wake up and look at the BTC price once per week and say, "wtf, is this shit going to the moon? do I need to buy now? omg mortgaging house"

Every currency, whether it's fiat, gold, or Bitcoin is a pyramid scheme.  You either choose to barter for goods and services instead to avoid that, or you pick the pyramid that functions as the best store of value or potential for future returns.

But you shorted so that means it will go up.

Around now is when we reach the phase of Hero and Legendary members to start making bear posts, either with their normal account or 1 post account, due to the fact that they sold everything and were waiting for "the bottom" and forgot to buy before it raised.  Then we will hit $350 and they look at the screen in shock and buy, then it drops to $325 and they become bulls.

Are you guys mentally retarded?  The federal govt can just print money out of thin air anytime they want, yet you believe they're going to pump Bitcoin for some meaningless auction for a trivial amount of money?  Out of all the conspiracy theories for why the price is increasing, this one is dead last.

BTC hit $330 in China

The first of the media coverage leading to the Bitcoin bubble 2.0:

"however if a few hundred million Chinese decide that the time has come to use bitcoin as the capital controls bypassing currency of choice, and decide to invest even a tiny fraction of the $22 trillion in Chinese deposits in bitcoin (whose total market cap at last check was just over $3 billion), sit back and watch as we witness the second coming of the bitcoin bubble, one which could make the previous all time highs in the digital currency, seems like a low point."

http://www.zerohedge.com/news/2015-10-29/bitcoin-soars-near-highest-2014-china-outflows-accelerate

The next 24 hours are denominated by relative units of account known as minutes.

It already hit $330 in China ...

Official Bitcoin Bubble 2.0 song

https://www.youtube.com/watch?v=nYDAF6NbgKc

Cyndi Lauper also wrote a song about Bitcoin in 1985.  Read the lyrics:

https://www.youtube.com/watch?v=8sKbvN--oH8

China is building a floor at $324-325

Dump leveling off at 2060 yuan and holding ($324). 

Eat shit shorters!

Breaking News:  China has declared war on fiat!

$341 in China.  They're just dumping US treasuries out of one door and bringing in wheelbarrows full of Bitcoin through the other door.

Stolfi Bitcoin bull confirmed.

I think it's starting to become clear that people heavily underestimated the severity of the financial problem in China and a component of what you're seeing right now is insiders attempting to do a myraid of things such as avoid devaluation, hedge, and avoid capital controls:

"in 2007 and right before the world was swept in the worst financial crisis in history, China had only $7.4 trillion in debt, or 158% in consolidated debt/GDP. Since then this debt has risen to over $30 trillion (specifically $28.2 trillion as of Q2, 2014) representing a staggering 300% debt/GDP.  

"This means that China was responsible for more than a third of all the $57 trillion debt created since 2007, making a mockery of the QE unleashed by all the DM central banks"

http://www.zerohedge.com/news/2015-10-29/ghost-cities-finally-died-chinas-steel-industry-outlook-worst-ever-amid-unprecedente

They can't go to stocks or domestic real estate to put their money somewhere.  If they want to go into foreign real estate, they need to avoid capital controls (Bitcoin).   Since the price of BTC was suppressed all this time and has a halving coming up to make it a very safe buy, this China bubble might become far bigger than the last.  It wouldn't really be that astonishing to me hitting something like $600 from the halving, so I won't be looking at my screen in amazement until it hits something like $750+.

Except your link says: 

"expectations that Beijing is ultimately targeting a 20% devaluation in order to boost said imploding economy"

So stay in Yuan and lose 20%?  Or buy Bitcoin and gain at least 50% from halving and avoid the 20% devaluation as well?  Usually white kids with autism win all the math tournaments, but the Chinese might be able to figure that problem out.

Here comes the fraud posts from shorters and people who were waiting to buy the bottom but got left behind.


Zerohedge is always right, just off by timings of months, years, decades.

It's all the idiots who were full fiat and 0 coins and were waiting for "the bottom" to go all in for momentum trade but it went up without them.  Now they're waiting on the first dip to go all in and they pray it will be as large as possible.  The absolute worst case scenario would be taking the average of the increase, $240 to $330 = 90/2 = $45, then adding that to the base = $285.  But then the huge amount of shorts + people who wanted in on dip would instantly take it back to $300.  So even in worst case scenario, you're looking at somewhere around $300 if it actually did crash, but the Chinese seem pretty set on building a $325 base.  

If I had to guess what would happen in the next 48 hours, I give it 50% chance China and the US meet at $325 and go sideways, and 50% chance China keeps pushing to god knows wherever they are going.

China Wei Lei bot apparently says below $335 not allowed.

Bots in China still buying anything and everything that goes below $335.  China going to drag America upward.

Yes, Stolfi, we are all aware the New World Order wants to have private block chains that only exist between banks which is nothing but a database replicating the system that already exists.  Since such a system would be doing nothing but upgrading the back end of the bank, it would provide pretty much 0 competition against Bitcoin.

I suppose flash crash lines are useful if you're trading margin, but for the rest of the world, especially if you actually want to buy some, it's this.  If China can't hold 350, it's going to test 340, then go to 330 as backup.  The bots about 8 hours ago were buying anything and everything under $335 in China, so it should hold pretty high.  No point really in just dumping everything when we're on uptrend anyway that will hit 500+ for halving.  This is a clear case of knowing what the bots are doing is far more useful than any form of TA.

IMO, China floor = 2115 yuan ($335) and average price if it stops will be sideways at 2150 ($340).  American arb might then drag China down to $330 over the course of days.  Maybe they will keep pushing higher though.  China might want to go to $400.

Nasdaq August tweet comes to pass.  He made no mention of XT dragging it down, so I guess it's an even safer haven than he imagines heh:

https://twitter.com/NASDAQ/status/629363305598046208

China is fighting way harder than I expected to hold $350.  They're actually trying to build a floor here.  People buying at US prices are definitely going to be well off.

I will sell when the USD/BTC chart looks like the Venezuelen/USD exchange rate.  At that point, I guess I can just spend instead of convert:

China wants to converge at 2150 yuan ($340) and that's exactly where the price is.  America will need to be dragged there.

This is insane, China holding $340 with strong support while the US is $315.  Feels like they know something we don't.  Look at that huge buy wall at 2150 yuan wtf.

It appears China gives no fucks about Shitstamp bears.

The dumpers already exhausted all their ammo with basically more volume than it took to bring us here.  If your short is anywhere under 310 you're probably shit out of luck and might as well cover:

It will stay above $300, the order books are too healthy around $310.  It might flail up and down all over the place for a while, but China and the US will stay above  $300 after it settles.

I love these shorters.  They make like $10 per trade for weeks then short at $125 before it goes to $1200 and lose everything.  This time they'll short $300 before it goes to $3000 and lose the rest.  CYNK went to five billion dollars with one employee, no product, and no revenue.  If the Bitcoin blockchain stopped working permanently, it would probably still 10x in price.

Shorters all fucked.  The ascending triple bottom in China is in:

In China, coin buy you.

The next 24 dollars upwards are critical.

Every single post is:

1)  "wahhhh I went full fiat like an idiot and the price went up so now I need to think of any excuse possible for it to go down because I don't want to pay any markup"

2)  "I'm a greedy idiot and tried to short at 290 and it blew the doors off my shorts so time to spam any excuse I can think of for it to go down and I pray to god it doesn't go to 400"

What were you doing for the past year when the price was just a straight line at 225?  Did you people think Satoshi was gonna call you and say, "Yo dog, I'm bout to jack the price up on this shit again, gonna give you 48 hours to get in before I hit up Huobi before I take it to the moon".

The large amount of shorts is good, that means the buying pressure will dwarf that of longs cashing out.  If the price is continuing to increase even with all those shorts, that means the nervous bitch ass shorters scared of losing everything while it keeps going up will be closing and propping up the price too and preventing any big drops.

Wei Lei bot laughs at your shorts.

I told him Oct 31st but he did not listen:

No wonder China is buying Bitcoin like mad, they got a bunch of Bernie Madoff funds about to implode:

http://www.zerohedge.com/news/2015-11-01/partner-chinas-carl-icahn-executed-local-police-after-attempting-escape-following-in

Yea, that's good.  We don't have to pump Bitcoin, that's way too much effort, all we have to do is implode our own economies.  Just Mitt Romney the fuck out of everything.  Then we just walk to the Bitcoin store and exchange for a sack full of money like this:

https://bitcointalk.org/index.php?topic=1150751.0

Anyone still wanna short?

Incoming $163,000,000,000 market cap and $7700 coins

https://bitcointalk.org/index.php?topic=1235466.0

I just posted the explanation Stolfinator.  When something like 70% of coins have been mined, price has already hit the bottom as evidenced from the last year, and the upside potential is listed below, we haven't witnessed anything close to a bubble yet:

Incoming $163,000,000,000 market cap and $7700 coins

https://bitcointalk.org/index.php?topic=1235466.0

Easy, because everyone wants to buy "at the bottom", so the bottom comes and sits there for an entire year while they look at the screen and say, "hmm seems pretty stable here, looks like the bottom is in, but I think i'll wait and see if there's a flash crash, then I'll buy some then".  Then the train starts to leave without them and they realize they're a fucking idiot.

That and shorters are good at keeping the price from moving...until they fail and lose everything:

Damn, your short got fucked up son.

You thought you'd have so much fun out shortin with your bros
But beneath the water awaits a terror nobody knows
You're dragged beneath by it's row of teeth
The bull shark
It's too late now it's made it's mark
The bull shark
Humans are helpless to this mighty beast
Claiming its prey
helpless in the water
a human buffet

Damn son, where are your balls.  What are you for halloween, a bitch?

Probably not gonna be a crash.  Probably going to be a soft landing to entrap the shorters and force them to support price.

Nice try you bitch ass shorters!

http://www.cnbc.com/2015/11/03/bitcoin-to-be-6th-largest-reserve-currency-by-2030-research.html

What the hell does Cryptsy have to do with Bitcoin price?  It's an altcoin exchange.  Anyone who deals with altcoins has known for months not to deposit anything there.  If they ran off with all the altcoins in the universe it's not going to have any effect on BTC.  Current, past, and future BTC price has nothing to do with Cryptsy.

China spread will likely also continue because:

https://bitcointalk.org/index.php?topic=1235466.msg12870013#msg12870013

There's about a million reasons coming together at once, it's the perfect storm.

The New World Order has decided to front run Bitcoin to make money themselves instead of try and ban it, so they've legally made it a currency in the EU, placed it on the cover of The Economist and Bloomberg in the same month, and now said it's going to be a world reserve currency:

http://www.ibtimes.co.uk/bitcoin-become-sixth-largest-global-reserve-currency-by-2030-1526925

Then we have deutsche bank possibly collapsing, and China shooting bankers in the streets now and having Bernie Madoff style funds imploding, so tons of China money is flowing in.  China might be on the verge of a serious economic implosion that we highly underestimate:

http://www.zerohedge.com/news/2015-11-01/partner-chinas-carl-icahn-executed-local-police-after-attempting-escape-following-in

http://www.zerohedge.com/news/2015-11-02/widening-probe-snags-most-senior-chinese-banker-yet-sends-stocks-lower-rba-sparks-co

Then you have the halving coming and tons of other things going on at once.  Then the fact that TONS of people were sitting out of Bitcoin waiting for "the bottom".  Now that they know the bottom is already in, everyone is having to buy back when it started to go up.

You also have the fact that whales have planned all along to accumulate, wait till 70% of coins are mined, then start to pump.

Next O'Reily Factor:

In case people don't know how the market works:

http://www.youtube.com/watch?v=0akBdQa55b4

China already recovered at $417, just the Huobi API is fucked up

In case anyone is retarded and can't figure it out, China is currently 2652 yuan ($418 USD).  Huobi API is screwed up.  America lagging behind because the API froze.

Will take something like 30 years for a new generation of shorters to arrive since all the existing ones are broke and homeless now.

Apparently Andreas Antonopolous wasn't actually walking around stoned babbling about nonsense.  Bitcoin really is the black swan that separates money creation and the state, like how religion and state were separated...

Wait till it breaks old ATH of around $1200.  Little countries like Venezuela have $15 billion dollars in gold reserve, more than double Bitcoin's market cap.  After it breaks old ATH, the central banker FOMO begins where they start saying "holee shit mates, do we need to be buying some of this stuff???", which then leads to the unstoppable bubble of all bubbles.  You basically get a free 10x+ from there after breaking old ATH.

Fuck you guys, in the time it took me to make this picture it already went to $515 in China

While everyone was "waiting for the bottom", "waiting for a flash crash", here is what Bitcoin was doing:

https://www.youtube.com/watch?v=cF4ZTcuhixc

Stolfi, you know damn well what you're typing IS snake oil.  Off-chain transactions (i.e. exchanges and other such services) probably make up a far higher percent of volume than on-chain transactions.  Nothing about Bitcoin being a preservation of wealth tool requires you to mindlessly send it back and forth to yourself all day long.  Bitcoin's current state lends itself to functioning best as a checkbook type device you use to occasionally buy large value items like cars and houses.

So many noobs will sell everything on a 6% drop and miss bubble 2.0 with 1/10th of what they could have lol.  Sell away noobs.

Bitcoin doesn't give a fuck.  You can sell everything, slam your penis in the car door a few times, it doesn't really matter.  This is Bitcoin:

http://www.youtube.com/watch?v=cF4ZTcuhixc

Price is being managed in China at a 500 floor till the round eye is over his fear to go higher.

I just checked all the exchange walls, it's either going to hold this price or up some more.  Only logical option is hodl.

So many noob shorters and noob 20x longs taking it up the ass this day.  Never have I seen such poor risk management.  Now China is going right back up again.

Not that dangerous with a $375 triple bottom.  Should be back over $400 soon.  If I was going to make a prediction of where it will test next, I'd just split the difference in the 375 bottom and the 450 that didn't hold and say around $415.  From there, maybe the Chinese will take us up again.  All I know is, it's way more risky to short than buy right now.

China triple bottom is in.  I don't think you're getting coins cheaper than this.  Rally probably resumes from here:

Will test $415 next, the dumb shorters in the US are trying to push it down to avoid closing while China wants to go up.   Could drag on for a couple days or maybe they'll close today.

<r0ach> china is going into an ultra tight manipulated trading range
<r0ach> only the US can bring it down
<r0ach> china wants to go up

As the shorts close and people wander in over the next several days who were full fiat and got left behind, it's going up. 

$404 told you guys to buy the China triple bottom

Did you sell all coins at $2  or were they all on Gox

I decided to raise the price

You are correct, all the stupid fucks that didn't buy at the bottom around $230 hope it will go to $300.  Will it go there?  No.

https://www.youtube.com/watch?v=0akBdQa55b4

Yes, we are aware you did not buy at the bottom and have spammed the last 10 posts claiming the price is going to 1 penny so that you can buy.

No pity for the idiots that think they can manipulate the market down by talking because they were too dumb to hold any and went full fiat.

Nope, was buying the entire bear market season.  That's why nobody cares to read what a bunch of Johnny come lately dbags post chanting for the price to go down so they can send their $100 to coinbase to get some because they were too dumb to buy at $230 and went full fiat.

Have enough noobs been shaken out that we can go higher now?

behold, the power of r0achstradamus (that was at 390)

Nice job leaving out the gox bubble.  Another day of little children posting thinking they can talk the price down because they went full fiat at $230 instead of buying at $230?

Tired of looking at crappy line drawing that shows absolutely nothing, so here's what I see as the best altcoin trader in the universe.  So in other words, a trading range of 360 - 415.  Take the bottom of 360, add it to the point where resistance started to increase of 415, divide it by two = average of 387.5, exactly where the price is.  With a continous uptrend unless it breaks below 360.



Called the 415 before it went there while it was at 370 or so in the 2nd wave blowoff too:

Probably because Bitcoin is currently safer than leaving your money in a bank.  Instead of negative interest rates, you'll probably gain 50% or more off current price from halving.

Fundamentals always take precedent over short term TA, so conservatively, a gradual uptrend to $600 or higher by August 2016 with next leg up of support probably being $420 unless some whales decide to go wild to spike the market.  As OTC supply runs out, whales have to hit the exchange so all TA can instantly be thrown out the window as price goes parabolic again.  It could always be some astronomical number by that point too but you gotta invest with conservative estimates and hope for the best.

When 70% has already been mined, it can really go exponential at any moment and I would not want to be holding 0:  

https://bitcointalk.org/index.php?topic=1235466.0

Could happen before or after next halving but we'll see another parabolic and it will come without warning just like this last one that occurred.  Whales start making whale sounds and other whales come to investigate.

Would need to go below 360 to break the uptrend.  I doubt it will.  Anything between 375 and 415 looks normal to me over the next week or two.

Better question is, when, if ever, is the China/US $15-20 spread going to end.

I think your statement has been invalidated by both BTC and LTC halvings.

Watching China, appears to be a Chinaman that shorted and then put up big sell walls to try and make his short work.

Maybe it's part of the new norm.  As certain nations get in more economic trouble, maybe BTC will always carry a price premium in some places.  If a large economy such as Russia collapsed for instance, what do you imagine the BTC price premium over America would be?  Anybody know what the premium is for BTC in Venezuela right now?  People seem to think it's normal and perfectly ok for Venezuela to have a price premium but think it's strange for China to.

You completely left out the reason for why trading really can be easy and free money, because there's always a huge amount of people seeking short term profits.  You just exploit that weakness.  It's why pawn shops exist.  They're willing to hold something longer than 5 minutes to sell higher later.  Even if 99% of people think Bitcoin is going to be worth $10,000 in 2020, it's still going to sell for peanuts now because we're not there yet and they need money now.

Just a normal day of Bitstamp trying to manipulate the price downwards like every other day for the last several years.  Looks like they can't do it anymore though.

The gods have decided the uptrend will continue.

Unfortunately for the bears, I think people are just going to trade the trend line creating a self fulfilling prophecy of $365ish:

The people who sold at $2....$230....$365

The price seems to want to gravitate towards a $362 floor or so.  That extra $20 seems to be scaring away new buyers heh.  Maybe it will stop around $370 though.

Here's what I see looking at the chart and trend right now.  Removing outlier data on the bottoms and just going by solid averages, you get these three yuan values, divide them by 3, subtract the $15 spread = $362 current working floor.  If that floor fails to hold, then it's going to fall back on 2250 yuan floor = $355 minus $15 China spread = $340.  For anyone dreaming of $300 coins, I don't foresee it going lower than $340 and it might not even breach $362 again.

I expect a red china candle to 2400 yuan any second, which will take the US to $362-365ish.

Woops, left out the macro wedge.  Looks like it's going to explode in one direction or another once the yellow wedge finishes.

Monohull or catamaran

This is it, which way are we going ladies:

We're coming in at the end of a micro and macro wedge + volume is now 0, means large chance of big red candle unless some China whale decides to flood the market with volume:

It's still bullish, it's just the China spread + uncertainity of where the price is going to land after the big rise has everyone scared of where it's safe to buy at.  Probably take one week before things are worked out.

China rally is re-started, might be a huge breakout coming:

Yea, looked like Bernanke needed to stop that China rally.

And where's the evidence of how much they paid?

r0achstradamus strikes again:



$362 = the floor.  It will probably hold here, but even if it breaks, it's only going to $340-350ish, so pretty safe to buy now.  Buy now and don't look at price again for 1 year.

Yea, that spread had to consolidate closer before the real floor was found.

Yea, whenever you see some guy market dumping 1000 coins at once, it's oversold and the bottom is reached.  China is lower than the US now, so this is definitely the bottom.

edit: nevermind, they were lower for like 10 seconds.

What kind of idiot would short after that massive sell off? lol

Crash over, China going green.

Pick one:

A)  China stopped pushing for new highs

B)  Auction coins dumped

C)  Final shakeout before $1million per coin

Someone review my "Lowball Bitcoin price prediction as a money transmitter in comparison to Paypal" thread:

https://bitcointalk.org/index.php?topic=1243623.0

Definitely last shakeout till $1million/coin.

I wonder if MattTheCat dumped when he can just hodl them for 8 months and have probably double the value of what he paid.

So many damn fools try to equate the distribution process of Bitcoin as being the cost per transaction.  Your fail premise might work if the block reward was linear.

$4 terror bump

You don't win at BTC by day trading.  You figure out that 8 months from now, the price will be at least $500-600 from halving and try to have as many as you can by the day that happens.

Oh look, 10 one star account posts in a row all from the same paid-for shill saying Bitcoin is going to 0.  Cointelpro/Mossad is way dumber than I thought.  When you post with more shill accounts than actual forum users, all you do is blow your own cover.  Way to go idiots.

I thought it was amusing Japan expanded their "lost decade" to actually be two decades, but still call it lost decade anyway.

Who would have thought Stolfi would be an ivory tower Marxist?  Probably everyone?

Race is a real and not imaginary construct.  There were seven main haplogroups in Africa, L0-L6.  L3 split into haplogroup M & N.  N being the precursor to caucasians, and M being the precursor to everything else not African.  The amount of time that haplogroup M+N have been separated from L is something like 100,000 years.  It's not a question of "do races exist", or "are races different", it's only a question of how large of changes can occur in that time span.



That's only a conservative estimate of genetic isolation though.  In America, plenty of Caucasian and Africans live near each other, yet the interbreeding between groups is something miniscule under 5%.  Since white genes are recessive, the white race would not exist if this ratio was higher.  Due to this, whether your Marxist mind acknowledges it or not, if you advocate that everyone on earth interbreed with each other with no regards to race, you are in fact advocating white genocide due to white genes (and Asian) being recessive.

It's pretty easy to verify this with virtually any interracial relationship that exists.  Take Heidi Klum for example.  Here's her with two of her kids, each from different fathers.  She's supposed to be a supermodel, yet has passed along virtually none of those supermodel genes onto one child, while clearly having done so for the other.  This is because white genes are recessive and it's hard to even tell the child on the left is related to her at all.  



When people like Richard Dawkins use terminology like "the selfish gene" to describe how and why organisms reproduce, in the example above, you're effectively throwing your genes out the window, accomplishing nothing, and effectively eliminating yourself from the gene pool due to your genes being recessive.  This is one of the big reasons why intermarriage rate remains low.  Even if they don't understand the science behind it, people subconsciously know this and instinctively avoid it so as to not purposely erase their lineage from history.

This is a bullshit, meaningless, semantics argument.  The terminology used in Mainstream Science on Intelligence is "racial-ethnic group", so it still has the word "race" in it:

https://en.wikipedia.org/wiki/Mainstream_Science_on_Intelligence

I used the word "race" because that is what's known to describe this concept in colloquial speech.

Language is an evolving mechanism of consensus.  If 99% or more of people on earth refer to this idea as "race", and it already seems to be accepted as such in dictionaries, and a much smaller portion refer to it as "ethnic group", colloquial speech will determine what is valid in the future unless some type of major scientific discovery invalidates it's use.

From the dictionary:

Race -  A usually geographically isolated population of organisms that differs from other populations of the same species in certain heritable traits

Biologists/Taxonomists also play fast and loose with classification of species in animals they discover, and if they practiced those same habits classifying humans, they would probably end up classifying humans into different species.  In other words, your argument is meaningless semantics.

Sorry, but mindlessly throwing out the term "Stormfront" in an attempt to insult someone who has never looked at that website before does not invalidate the objective reality of what I've typed.  You'll have to actually address the subject of what I've typed instead of using fake strawman tactics.

So now mentioning that white and asian genes are recessive is racist?  Maybe Bitcoin is racist too?  Maybe everything is racist?

Thank you for giving away the origin of your anti-Bitcoin spam accounts "lambchop / 5000 other fake aliases".  Pushing a constant anti-Bitcoin, pro-fiat agenda, while also being vehemently pro-cultural Marxism.  I was starting to believe someone like the Russian government was funding anti-Bitcoin spammers, but this is obviously not the case.  Very few groups on earth fit the profile you put out, especially ones that become enraged by their cultural marxist views being challenged.  It's easy to tell where these spam accounts are originating from and being funded by now.


Claiming that mentioning Caucasian and Asian genes are recessive is "spewing hate" is a complete joke.  You're trying to use strawman tactics and political correctness as a basis to win arguments.  The person "spewing hate" is actually you because you're claiming anyone arguing from a non-minority viewpoint is automatically wrong and racist by default.  You are the true biased racist and it's disgusting.

Once again, thank you for revealing the source and funding of your 5000 paid anti-Bitcoin spam accounts "lambchop/other aliases".  Besides the pro-fiat, anti-bitcoin stance, the part where you become enraged by people not accepting domination by cultural Marxism was key in figuring it out.

Thank you for revealing the source and funding of your 5000 paid, anti-Bitcoin, spam accounts, "lambchop/other aliases".  Besides the pro-fiat, anti-bitcoin stance, the part where you become enraged by people not accepting domination by cultural Marxism was key in figuring it out.

You now get this copy and paste message for each time you create a new spam account.  Pretty easy for viewers to figure out where these spam accounts come from now given this information.  Very very few groups on the planet push this specific brand of propaganda that you are doing.  You've completely given away your identity.

I've noticed lots of people refer to the entity that's created 5000+ anti-bitcoin, pro-fiat, pro-cultural Marxism spam accounts as a "troll".  You need to be extremely stupid to believe such a thing.  It's obviously a paid for shill.  Nobody goes through such effort in creating so many spam accounts for no actual incentive.

Thankfully for our viewers, his uncontrollable rage at people not worshipping cultural Marxism, plus his praise of fiat and anti-Bitcoin view have completely given away the identity of the group funding this.

Contrary to what fat pride and other whacko groups try to claim, "beauty" is not even close to entirely subjective.  Symmetry and attributes that define health are obvious objective standards of looks, probably plenty more exist.  I hate to break it to you, but the world in general will unanimously agree which child received the supermodel genes and which didn't.

Since the Caucasian genes are recessive, this is how it turns out nearly every single time in these kinds of offspring, the child looks nothing like the white parent.  From a strict biological and natural selection point of view, the purpose of reproduction is solely to spread your genes into the future.  In the scenario above, what she has done is basically pass on her genes as non-influential junk DNA, while the African genes determined almost the entire outcome of the child where it doesn't resemble one of the parents at all.

Of course there will be tons of Marxists coming along to claim that mentioning African genes are dominant and Caucasian and Asian genes are recessive is "da raycism", because it doesn't take a genius to figure out that whatever genes compromise the recessive groups would basically be made extinct by full integration between all groups.  This infuriates the common Marxist because it blows the lid off their fake narrative where those groups of people tend to constantly push for things like conservation of variety in animal species, yet they would be pushing for the exact opposite in this case, the extinction of the recessive human groups on purpose.

Humans are regular animals.  Dogs bark at themselves in the mirror for no reason.  Some people do similar things.  The ones who try to classify humans as some type of creature far above the scope of the common animal will be the first to die once the fractional reserve, fiat scam system implodes.  In the words of The Watchmen movie, "Now the whole world stands on the brink staring down into bloody hell. All those liberals, and intellectuals, and smooth-talkers; and all of a sudden no one can think of anything to say."

Thank you for revealing the source and funding of your 5000 paid, anti-Bitcoin, spam accounts, "lambchop/other aliases".  Besides the pro-fiat, anti-bitcoin stance, the part where you become enraged by people not accepting domination by cultural Marxism was key in figuring it out.

Have fun receiving this reply anytime you make a new spam acct!

Good one, Stolfi.  You're way more fringe leftist than I imagined, trying to claim that anyone acknolwedging different ethnic groups or races exist at all is a "scientific racist".  The word "racist" isn't even a valid word in the first place because it implies everyone on earth is identical to one another.  

Read it and weep you anti-Bitcoin Marxist:  

https://en.wikipedia.org/wiki/Mainstream_Science_on_Intelligence

No scientific evidence exists whatsoever to back up your points, none.  The only evidence that exists points to the opposite of what you claim, because all that matters is the bell curve, not outliers.


Oh joy, now anyone filling in the word "caucasian" for race on the census is now a "19th century racist".  You are a true self hating, far leftist, anti-white racist yourself posting garbage like this.  You're not allowed to be a Caucasian because "Caucasian" is a relic, hence bad!  Nobody on earth is allowed to be different from one another.  Everyone must be identical, Marxism commands it!  Also, reject Bitcoin, worship fiat!


Probably mutation + convergent evolution, which is why if life is discovered on other planets, it would likely be similar to what exists here or in the past.



Please cut the slavery BS.  Brazil didn't even get rid of slavery completely until TWENTY FIVE YEARS after the emancipation proclamation in the US.  Hilarious that you would actually bring this up while trying to demonize North America.  The Roman empire also had more white slaves than black slaves ever to exist.  Anyone trying to play the slavery card is a pathetic propagandist.  The basis of the so called "one drop rule" was most likely due to white genes being recessive.

The natural order of human grouping is individual > family > tribe/village > city state of ethnocentric majority

Without an ethnocentric majority, the nation state collapses.  Every country on earth that doesn't collapse enacts similar policy, such as the Japanese attempt to regulate immigration and maintain their demographic.  The US had the same laws until Jewish lobbyists got the immigration act of 1965 thrown away.  They wanted their diaspora from all over the globe to be allowed in, and they see homogenous civilizations as a threat to their existence.  There's a reason places like China (the Han) and Japan have existed for so long, because they're mostly homogenous civilizations.  America will inevitably implode because Marxists constantly try to push the lie that "diversity is strength", when it's actually a weakness that causes social unrest and implosion.

Thank you for revealing the source and funding of your 5000 paid, anti-Bitcoin, spam accounts, "lambchop/other aliases".  Besides the pro-fiat, anti-bitcoin stance, the part where you become enraged by people not accepting domination by cultural Marxism was key in figuring it out.

Have fun receiving this reply anytime you make a new spam acct!

If Matt and the cat sold, it will likely quadruple in price.

You misquoted me entirely.  I said both Caucasian and Asian genes are recessive compared to African genes.  You being white and marrying an Asian woman (wow, who would have guessed nerdy white guys obssesed with Asian women on a Bitcoin forum???) doesn't really have anything to do with what I typed.  There's plenty of half white, half asian girls that can pass for full white or full asian.  Neither group's traits completely obliterate the others making one of the participants seemingly function only as junk DNA.

No, I think you have no idea how anything works, keep trying to push your cultural Marxism though, claiming everyone that walks the earth is identical little clones.  Every group is different from both physical and behavioral aspects, because that is the purpose of evolution, to create differences, not to create Marxism.  You should really go join the fiat world where your delusional view is commonplace.

If every race is identical, why do races outside of Africa have Neanderthal DNA?  Why do blacks have 20% higher blood testosterone level?  Why do Asians seem to test lowest for psychopathic character traits?  Even men and women from the same ethnic group aren't similar.  Claiming people from different groups are identical is just hilarious.

It's always the far leftists pulling this crap too.  A bias to support their ideology of collectivism.  Nevermind the fact that liberalism is inherently a mental disorder based on inferiority complex where you can only relate with groups deemed weak, inferior, or underdogs in general.  It's a shame the political and social narative of the modern world is shaped entirely by people with mental disorders.

Probably the same reason the least useful members of civilization:  sports players, actors, hedge fund managers, make a million times more than people who produce food, clothing and shelter.


You know what's more funny?  When Marxists try to push the agenda that everyone walking the earth is identical, then when caught out in an obvious lie, they try to claim that ok, you are right, but anyone that mentions it is a "racist scumbag".  No, you are the scumbag for trying to push collectivism on people then using the politically correct strawman fallacy of "raycism" when caught in lies.

I don't think you understand the words you're using.

Cultural Marxism: an ideology which emphasizes culture as a main cause of inequalities. Critics have seen cultural Marxism and its influence as an important cause of political correctness and as an important cause of a perceived decline of humanities, social sciences, culture, and civilization in the Western world.


The leftists on this forum don't really care about truth or fiction, right or wrong, all they care about is attempting to maintain the appearance of moral high ground, thus their strategy when speaking is always to try and correlate the non-leftist opponent with either Hitler, a Klan member, or some other leftist boogeyman-ism like racism, sexism, anything-ism.

If a woman made that article about "Syrian men", it would be considered a "joke" and not offensive.  Leftism only knows how to portray women as victims and men as perpetrators.


Dumb argument because nobody mentioned nor cares about "health" in the first place in the context of ANYTHING we discussed.  Yes, there are some groups like the Jews that have their illnesses dervied from genetic bottlenecks over time or whatever, but this is not a problem for most people.  Plenty of Asians living to be 100 years old without marrying into other groups.  Your argument is completely off-topic to what was being discussed.  "Health" is not exactly a bell curve attribute unless you change the word health to lifespan.

The anti-bitcoin spammer in the above quote has created 5000 accounts praising fiat, claiming Bitcoin is terrible, and also praising political correctness and cultural Marxism.  He fits no other profile of people on earth besides the Jews with that propaganda.  Nobody else on the planet vehemently belives that way or would go through the trouble of creating so many spam accounts to do so.  Obviously a paid zionazi shill account.  Same thing with the other spammer "Controltower", both pushing the same propaganda.  Nice try JIDF, but go fuck yourself, you're not fooling anyone.

It's called JIDF, Zionazi shill posters.  They got the whole tribe posting here now.  Just a constant spam of "Ovey! The Goy have discovered the Bitcoin Final Solution ! We must stop them! Remember the Shoa! Remember the 600 Trillion !!!!  Anything Goy is terrorism !!!

Then tell your JIDF friends to stop creating literally 100 spam accounts per day spamming that the price of Bitcoin is going to 0 within 1 nanosecond in each post.  Only way to stop them from doing so is to reply to every single one of their posts with a giant anti-JIDF gif.  That way they draw just as much negative attention to themselves which counters their propaganda.

It's not Cointelpro doing it, it's not the Russians, it's not the Chinese, it's not random internet trolls.  It's blatantly obvious from the bullshit they're pushing who it is and that they're being funded to do so.  Maybe I'm just surrounded by idiots because you people actually refer to this entity as a "bear" and "troll".  Nobody creates literally thousands of spam accounts per year and posts on a msg board 24 hours a day with the same propaganda message over and over as a "hobby".

Assuming the doxer isn't a reverse troll/shill, and poopchop really is this "Izabella Kaminska" person, it looks like we've uncovered the origins of it's anti-Bitcoin stance.  The last name appears to be Polish in origin, and there are many Jews who also have that last name, so it's just your typical, Jewish, pro-central banking, anti-all alternatives shills.

I've uncovered that her associate spammers that are creating hundreds of anti-bitcoin spam accounts per day are also Jewish in origin.  What a hilariously predictable outcome.  Lambchop is also likely a lesbian from her aggressive anti-male attitude, which is another reason she hates Bitcoin, because Bitcoin is entirely male.

Just the scare from possible overreaching EU authority over Bitcoin.  I sold at $330 to buy back later becaues I knew this would happen.  Lots of uncertainity = temporary price drop even though the EU deal will probably be a complete non-event.  All they can really do is ban Bitcoin entirely, and such an action is not going to originate from the weak ass EU.  If something like that ever happened in the western world, it would probably originate in the US or UK.

It will be funny if they try to "false flag event" Bitcoin with some terror nonsense though.  All those alternative media people like Alex Jones have been Bitcoin bears in the past because they try to correlate it with some kind of religious "mark of the beast" digital cash system.  They would probably go full retard pro-Bitcoin if the government tried to ban it and just spam about it every day giving it free advertising.  

The train doesn't stop until a MattAndCat technical analysis detailing why his chart was correct but he still managed to lose money.

Asian drivers probably kill far more people than Islamic Militants.  I suspect this group is utilizing almost entirely Apple hardware and fiat notes to obtain automobiles.  Should probably ban both.

I see Stolfi, the fiat jihadist, is still upset the price of Bitcoin is too high for his liking.  Don't worry, Stolfi, I'm sure the government will find something to blow up to blame on Bitcoin.

Another JIDF, Zionazi, central banking shill spammer.

http://www.youtube.com/watch?v=WlyL2r2j7VQ

Looks like someone is offended.  If you don't want to be offended, tell your govt financed, JIDF shill friends to stop making 100 spam accounts per day on the Bitcoin forum.  Everybody knows where those spammers originate from.  

That was me.  I plan to spend all of it to pump Corgicoin.

^Another paid, JIDF, Zionazi, pro-central bank, anti-bitcoin spam account.  This is about the 6000th they created so far.  Your spam accounts are useless now that everyone knows where they originate from, JIDF scumbag.

Ovey! The goy have discovered the Bitcoin final solution! They must be stopped!  Remember the Shoa, remember the 6 trillion !

When do you guys want me to stop pumping?  Around $550-$600 so as to not form a double top?

Just got off the phone with Bernanke, he says dump treasuries, all in BTC

Yo dog, I heard you like observing walls, so we made the wall go up and down a lot for no reason to confuse the fuck out of you.

That $350 is holding pretty damn strong.  Looks like it if breaks it's only going to $345 or $340 worst case.

It's interesting that BTC saw something like a 10% hash increase lately and $320 floor x 1.1 = $352

Price was holding $340 till that fake, scare news about the EU "cracking down" on BTC due to France.  Now that the information is out that they aren't regulating anything to do with BTC for years, that probably allows the upward momentum to continue.

$340 pre-france scare x 1.1 = $374, so it might have some more upward movement soon.

Yes, I realize this is "sunk cost fallacy" math, but assuming it's people mining with similar chips, stuff like this usually does work to some extent.


edit: nevermind, it saw a huge hash increase https://blockchain.info/charts/hash-rate

37% increase in like a week

The price only went up $32 (10%), almost a rounding error.  It didn't double in price like last time and needs some kind of titanic crash to come to fix the market.

The fact that the hash rate increased 37% in something like 1 week is hugely bullish for keeping price up.

Your theory is horribly wrong when things like the Candy Crush video game sold for more than Bitcoin, $5.9 billion dollars:

http://www.bloomberg.com/news/articles/2015-11-03/activision-to-buy-king-digital-in-5-9-billion-games-merger

Bitcoin could pass gold, which is far higher at 6 trillion.  Gold is only useful if society collapses and we go back to the dark ages with a barter society...

If Bitcoin took 1% of m2, I think it would be worth 1.5 trillion.

This guy figured out how to win:

Except everyone upgrades their miners....meaning nothing changes and nobody is getting cheaper coins o_O.  If everyone is still using similar efficiency 28nm and hash rate drastically increases, then miners are suddenly making no money and have to HODL unless they want to sell at a loss.  Hash rate just increased 37% in a couple weeks.

Done

Gonna need you monkey scrotums to stop trying to scalp 1/10th of 1% profit everytime we try to pass 365.

This is wrong.  Bitfinex was leading price the majority of the time in the rise.  This is not a China pump, China just also wants to go up.


Since nobody seems to know how many Bitcoins Gox actually had, it's still possible that instead of pumping, Gox might instead have had a negative effect on the market by selling more coins than they owned (shorting).  Yea, they're buying and selling with customer funds, but that doesn't mean they're pumping if they have 600k coins in liability on the books and only had 200k coins.  They would be naked shorting like Blythe Masters and silver.  I haven't really seen any good summary of Gox liabilities vs assets over time, but if there's always more liabilities than assets, they're doing internal naked shorts!

If Gox coins were actually stolen, and the thief dumped his coins while Gox is increasing sell side liquidity with coins they don't even have, then you have even more shorting!  In other words, nobody knows what the hell kind of influence Gox had on the market.

If Gox coins really were stolen, and the thief dumped coins for cash, then how is Karpeles pumping by buying a smaller amount of coins with customer funds to enable withdrawal?  It would be a wash or probably negative movement from him not buying as many as were stolen.  The only way Karpeles is pumping in that scenario is if the "thief" didn't sell any.  Who would steal $200 million dollars in goods and not sell any?

One of the few pump situations is if Karpeles stole the coins himself, hid them, didn't spend any, then uses customer funds to fund withdrawal with the intent of letting the business collapse and run off with the hidden coins later.  Gox is a mystery to me because he was already making lots of money and doing something like that would be lots of risk for not much of a lifestyle improvement over what you already have.  He could already buy gold toilets.

There's also always the chance a govt entity shows up making threats or saying they'll set him up for prison time if he doesn't help them get control of the keys or implode the market.

Moon time:

Chinese Stocks Plunge 5.5%, Their Biggest Single-Day Drop in 3 Months

http://www.nytimes.com/2015/11/28/business/china-shanghai-stock-market.html?ribbon-ad-idx=5&rref=world/asia

Chinese Cash Floods U.S. Real Estate Market

http://www.nytimes.com/2015/11/29/business/international/chinese-cash-floods-us-real-estate-market.html?ribbon-ad-idx=5&src=trending

Do the Chinese know we're still in a real estate bubble and houses will probably drop some huge amount like 30%?  They'd be better off just hodling Bitcoin. 

Yea, because everyone knows the price is supposed to go at a 45 degree angle upward forever and it's not possible to go sideways.

Micro wedge is sideways and the macro wedge is up.  Price is right in the middle of the micro wedge.

Within an hour or two there will be a pump to $365-7ish or dump to $348-350

Triangle attempting to converge on the upside...

I fucked that up drawing charts with an ideology I don't agree with, that outlier data is useful for anything whatsoever.  Here's a better chart.  That second downward wave had a lot of sideways to it and looked happy to stay around 2240 yuan ($350), so if the triangle converges downward, worst case scenario is panic to $340-345, then probably bounce back to $345-350.  Miner whales may attempt to converge it at $367, then drop, then above a $370 double top for a huge rally to $385-400.

Chart I made earlier.  The 5th wedge maintenance buy came in instead of a dump, which might have locked in $350.  At the very least it's gonna cause a long time span of sideways movement with a platform for further up:

Then:



Now:

^Same JIDF, Zionist, central banking shill spammer as usual.  Now on his 6000th spam account that he gets paid for to post.  Too bad your shill posts are useless now that everyone knows where these spam accounts originate from.

Oh look, JIDF, pro-central banking Zionazis got caught creating over 5000 anti-bitcoin spam accounts, now they're trying to reverse shill to pretend it's a witch hunt against all Jews when they're the ones who caught in the act doing something wrong.  Your garbage propaganda doesn't work when everyone knows who you are and where your accounts originate from.

Is this a joke?  You need to have either a sub 60 IQ or be so politically correct that you literally brainwash yourself into living in a fictional bubble to believe such things.  All it takes to completely control a country is to insert your mafia into the media and banks, then you even get to decide who the president is.  What does the following picture look like?  Sure looks like an Israeli mafia to me.  If those red squares were all Italians or even Chinese, people would be rioting in the streets and refering to it as the Italian mafia.  Americans are just a combination of too dumb, and too weakling, leftist, politically correct to not be slaves in their own country.  Federal reserve and the rest of the banking system looks exactly the same.  Have fun slaves!

The green box says "goy" not "gay".  How predictable was it that your standard American slob would make that mistake?  How did you type that reply with the entire keyboard covered in cheetos?

Oh, did my posting a chart of factual reality offend you?  What would make someone offended by facts?  Do you have something you want to admit to us of why that chart offended you?  Are you ashamed to admit it?  I guess you are.  This is a common theme with you.  All of your posts are far leftist, ultra politically correct in nature.  This is the Bitcoin crypto anarchy forum, not the Karl Marx institute of higher learning.  If you're going to continue to try and push your mainstream media ideology of fraud and lies, you should find another forum.  Maybe MSNBC, Huffingtonpost, or Goldmansachs forum.  I think they even have a few militant feminist websites you can join now.

I think you're onto something.  All the libertarians and anarchists that made millions off Bitcoin stopped posting and went and bought private islands.  Now all we're left with is Ivory tower leftist shills like you and Stolfi.  Then we got a few scumbag daytraders scurrying around trying to scalp a few cents, and of course Mattandhiscat panic buying and selling 50 times a day and losing everything on exchange fees.

Um, you're the guy who thought the word goy meant homosexual...

What do you do when not posting here?  Bowling?  Nascar rallies?  Speed eating?

Not $1600-$3200 for next ATH yet

Those are not even close to anarchists.  Those are identical to the collectivist leftists posting in this thread.  Leftism is a mental disorder based on inferiority complex where you can only relate to groups deemed weak, discriminated against, wronged, inferior, etc.  

Those people latch onto the whales because they see them as having been wronged.  It's a clear case of textbook collectivist leftism.  Their mental disorder is often mistaken for just common empathy, but that's not how it works.  Anything seen as strong or seemingly normal they have contempt for, so it's not empathy, but an actual behavior pattern/defect.

They were all dumped into the trash can when they were younger and now show contempt for anything in their mind that they see stronger than themselves (which is everything).

I'm starting to suspect this pause is a trap for shorts to squeeze our way to $400.

Stolfi hyping Bitcoin to the moon in Brazil!

BITCOIN FEVER SPREADS ACROSS BRAZIL

http://bravenewcoin.com/news/bitcoin-fever-spreads-across-brazil/

If you want to know why Bitcoin currently has a glass ceiling for price, just like gold does, and how to fix it (hint: involves block size), read my post:

What Bitcoin is actually designed for vs the Gavinator and Theymos vision

http://bitcointalk.org/index.php?topic=1271254.0

edit:  looks like maintenace buys coming in to extend wedge, pump continues

Guess I was wrong guys, this pump continues.  Sold at 377 when I saw it running out of steam, rebought at 377 when I saw manipulation maintenance buys coming in to extend the wedge, now it's 379 o_O.  If manipulators were going to dump I don't think they would be trying to extend this wedge at all and already would have dumped, so to infinity dollars we go!  There will likely be at least 1 more wedge going up after this one closes.

Not gonna happen IMO.  I'm a 3rd degree black belt in alt coin trading where nothing has any fundamentals and the only thing you can trade on is manipulation.  What I'm witnessing right now is a manipulation setup for an upward movement on convergence of triangle.

Ok, all forms of TA and guessing are now useless.  No dump or pump occurred, it just randomly goes sideways within margin of error for no reason.

A lot of dumps were absorbed to hold that so I'm expecting gigantic green candle soon.  Otherwise nobody would have gone through the effort of holding price on bottom of wave.

Last chance to sell before it goes to $32,000

While everyone waits for triangle to converge, a message from the exalted, great leader, CEO of Bitcoin:

I saw a lot of manipulation trying to extend the wedge to the upside and it took FOREVER for that wedge to break down and go one direction or another so I didn't go by my original gut instinct:

01[21:24] <r0ach> dump that breaks the trend and wedge is usually more harmful that one after immediate pump, which would probably take it to $362ish

Oh well, all my coins were bought at $230 anyway.

zzz

That was a pretty half azz thought pattern.  Any Bitcoin super early adopter is a technology freak that wants the best, nicest, most powerful thing around, you know the stuff that costs money.  They aren't buying cheap, trashy, 1ghz athlon netbooks off holiday sales.  Even if the stuff they wanted was on sale for Black Friday, they aren't waiting until Black Friday to buy it!  And if they were an early adopter, they already bought gold plated toilets and gold plated Nvidia Titans and don't care about some trivial sale.

No, you people keep repeating some lame, Jorge Stolfi propaganda.  That it's only possible for the price to increase due to Russian Ponzi schemes, and toilet paper rolls being on sale for 20% off at the Dollar Store on Black Friday will cause the price to crash.

Did anyone else see that 1200 coin market buy lol.  Now it's only 500 coins till $380 on Bitstamp, wtf is going on here.

Bitfinex just single handedly dragged down Bitstamp + Huobi + Coinbase by going $5 under Bistamp with their leveraging screwups.  Same thing happened earlier too.

China wants to go up.  Here we go ladies, still living the dream.

Just got off the phone with Xi Jinping, he said he would allow AdamstgBit to refill his 1 BTC bag before resume pump.

Looks like another member sold their account to the JIDF.

Now the anti-btc, pro-central banking spammers from the JIDF who have already created over 5000 spam accounts pretend to be "white supremacists" when the origin of their IP addresses is discovered.

Time to back up the truck and load up before Adam can buy.

So you're saying it's time to back the truck up and start shoveling coins in?

The global economic news is currently so bad, I'm expecting to look out the window and see empty grocery store shelves and shootings in the street any second.  I estimate each round of gunfire will be worth a 1% BTC increase.

1,450 btc market buy.  Did Stolfi back up the truck to pick up a shipment?

^The JIDF, Zionist shill is back who has already created over 5000 anti-btc, pro-central banking spam accounts.  Your propaganda accounts are useless now that everybody knows where they originate from.

$365 - r0achstradamus strikes again

Lamont the Bitcoin delivery man is back with a package for the shorters.

$400 run Roger Verified

Whenever the price goes up or down $1

Mattandthecat coming in to short, decides not to short, wants out of short:

http://imgur.com/gallery/Gs0WKOv

Bernanke trading Bitcoin today?  Someone who owns 1200-1300 BTC leveraged them out as 4000 fake, stair stepped short walls on Bitfinex.  The exact same behavior is also seen on several other exchanges even if they don't allow leverage.

He either wants to buy more before price increases or his middle name is Shalom.

Son I am disappoint.  Draw better chart:

Looks like drop back to $350-355 trading range

I was expecting a dump to $350 then for it to go sideways a few days before doing something else.  Now we have this:

Does China have their own Bitcoin central bank that we don't know about.

Peak China is in and now China just wants to move the money into anything that isn't a yuan or China stock?

http://www.thecommentator.com/article/6078/just_like_japan_in_the_90s_china_s_success_story_is_over

Next stop Bitcoin = infinity?

Technically all non-open entropy, proof of stake coins are permissioned ledgers.  These type of chains will exist in the future for a variety of purposes, but it appears Bitcoin is unstoppable as the main monetary unit now.


A system like DPoS is what they will end up using for a ledger that can be accessed by the outside public while preventing attack by owning a majority of stake between banks/financial institutions.

Blockstream has conceded and it's going to 8mb blocks:

"Another idea that has been gathering support is Blockstream CEO and Hashcash inventor Dr. Adam Back's “2-4-8” quick fix, which would incrementally increase to the limit to 8 megabytes in three steps over four years time."

So small blockers are officially dead.  Adam Back is a part of Blockstream.  

It is my estimation that Bitcoin needs around 10MB block size to remove the glass ceiling on price (8MB is close enough), so next stop moon:

https://bitcointalk.org/index.php?topic=1271254.msg13115160#msg13115160

My price estimate for next Bitcoin jump is $1600 with 4MB blocks and $3200ish with 8MB blocks:

Lowball Bitcoin price prediction as a money transmitter in comparison to Paypal

https://bitcointalk.org/index.php?topic=1243623.0

It seems Blockstream has conceded to 8MB blocks and that's probably what will result from scaling conference.  Those price estimates are sustained and not peak, so god knows what peak can be.

Doesn't matter if he has no specific BIP, it just means they would end up going along with Garzik's BIP100 probably.  China won't go over 8MB, so it will probably fork to either 4MB or 8MB and BIP100.

Yea, so now they'll use a London trust denominated in Bitcoin for both at the same time. (Rockefellers, Rothschilds, etc)

Mattandthecat reverse indicator confirmed.  Price is going to collapse...if you hold the chart upside down.

Stolfi is backing up the truck to load up more!

Are you trying to tell me that with a fixed supply currency, people would buy a lot then attempt to corner the market increasing price further until it reaches infinity???

Last Huobi rise seems to be rejected because of Bitstamp's downward manipulation wall.  People don't want to create a double top so $400 will probably attempt to be supported, but I think it's going to have to go sideways from here with some up and down for a while in order to get more buying action/arb on Bistamp.

Nice, one party government, sounds very efficient.

Newest most accurate TA:

https://bitcointalk.org/index.php?topic=1279383.0

The big ass macro wedge broke to the upside if anyone wasn't paying attention.  Mining seems like a horrible investment right now so I imagine the price will keep increasing till it's not. 

China used Bitcoin to buy Korea

Wait for it...

The bear traps were hung by the Bistamp with care, making sure Zionist shills would soon be there.

I knew those coins would move someday in the future because as I've stated 100 times already, he would have sent the coins to a black hole address to inspire more faith in the project rather than just sitting on unspent coins if that was his goal.  He's obviously not just going to market dump all the coins when 2020 hits either.  He supposedly already owns $60 million in separate Bitcoin, so he's not hard up for cash.

The logical market in this case would be making moves with the assumption that a private individual or group controls the coins rather than a government organization like the NSA.  Due to the alleged info on the trust, which basically states it's purpose is to pump Bitcoin to the moon, and finacial entities like ETFs being required to know the identities of major holders, the overall market reaction should be somewhere between flat to bullish.  

I don't really see any bear facts because logical people already knew the coins were still controlled since they weren't shipped to a black hole address.

This.  Now it gets tricky.  Either sideways at $415-420ish or it blow past $500 completely because TPTB are not going to let it stagnate in the mid 400's as to form a double top signal.

This Frost guy is the leader of the new left behind movement.  Went full fiat then it rose to $320 and he's like...this is bullshit!  It can't go up anymore, I'm going to wait till it drops to $280.  Then it goes to $500, then drops back to $320 again and he still doesn't buy.  Now it's about to go past $500 and he's still waiting to "buy the $280 dip".

You gotta play the game to win.  Don't be one of those people who was "waiting to buy the dip" when the price goes from $100 to $125 in last bubble before going to $1000.

Dumb story.  That wedge was breaking to the upside regardless.

Be like the guy on Bitfinex yesterday who shorted 700 coins at $400 for an instant, free $17,500 loss today.  He leveraged out $99k, about the exact same amount.

Feeling like it's gonna hit $600 long before the halving comes now.  Also starting to feel like a banking crash worse than 2008 might happen before we even get to the halving in eight or so months.  The new world order = a simultaneous Comex run and some 10-20x+ Bitcoin bubble turning the world financial system upside down occuring at the same time.

If every single Bitcoin was already mined, and every millionaire on earth invested only 1% of their money in Bitcoin, price would be $8000 per coin, but that assumes market cap is fully backed with liquidity, so the real price would be way higher.  This does not include governments, banks, hedge funds, people with less than a $1 million investing, etc, just millionaires investing only 1% :

https://bitcointalk.org/index.php?topic=1235466.0

The extremely low ball price for next 2008 crash will probably be something monsterous like $10,000+ a coin because it can easily go to $3000+ in the next year or two without even having another 2008 crash:

https://bitcointalk.org/index.php?topic=1243623.0

When every single day you wake up having the odds of another 2008 crash being here any second, you have to be literally stupid to not own any Bitcoin or to go full fiat.

If you look at the long term charts, it was holding $600 for a while even after Gox with no halving on the horizon so getting to $600 won't be much of a problem.  It's only after $600 pre-halving does it start to get unpredictable where it might go to something like $800 then dump back down to $600, or it might go all the way to something like $10,000 as talked about in this thread:

https://bitcointalk.org/index.php?topic=1235466.0

There's a lot of room for big gains and big shakeouts past $600, but until $600+ pre-halving, it's pretty routine.


No, it will actually be - "I wonder how much my Bitcoins are worth now."

Before next Bitcoin bubble:



After next Bitcoin bubble:

There will be a consolidation

The JIDF, pro-central banking, Zionist shills are back after they've already created 5000 other spam accounts.  Your spam accounts are useless now that everyone knows where they originate from.  You'll have to think up a new strategy besides being a weak, Woody Allen figure trying to manipulate things from behind a curtain because it doesn't work anymore:

This thread has turned into a complete noob convention.  Whether you think block size should be 1MB or 10MB, to address spam on a blockchain, you don't purposely make the blocks as small as possible, you institute a minimum transaction fee capable of preventing the spam regardless of block size.  Litecoin has a 0.001 min transaction fee for this reason.  Bitcoin needs to increase the minimum transaction fee as well.  Zero fee transactions never should have existed in the first place.

You might be able to make the argument that zero fee transactions should exist to allow Bitcoin the possibility of being run as some kind of public utility, but that would be a pro-central government standpoint.

If Bitcoin is worth $32k and only has a 1MB block size, it will act solely as either:

1) a clearing/settlement network for banks

or

2)  a clearing/settlement network for the Lightning Network

At that point, transaction fees made for purchases by individual users would not be affected and you would rarely pay it except when doing things like changing Lightning hubs or changing banks.  Bitcoin with 1MB blocks is purely a settlement layer.  The minimum, economical transaction size on the main chain with 1MB blocks would probably be something like $50k-100k IMO.  Increasing block size by one order of magnitude to 10MB would put Bitcoin in more of a gray area where normal humans would be using the main chain as kind of a checkbook for large purchases.  

I haven't put much thought into the ideal minimum transaction fee for 1MB blocks, but it would likely be 0.0001 or 0.001

If I was the dictator of Bitcoin, I would likely just change it to 5 minute block times with 4MB max size, or 2.5 minute blocks and 2MB block size, both with 0.0001 min transaction fee.  Something new like Bitcoin-NG would likely come along and fork over to replace this though.

What does this mean?  You're getting a sex change?

Yea, let's all convert our Bitcoin into Jewish paper confetti and watch as it goes to 0 value as they print an infinite amount more, great idea.  You Zionist spammers from the JIDF that have already created over 5000 pro-central banking spam accounts need better propaganda.

Zionism and Naziism are both identical, ethnocentric, racial supremacist cults.  Therefore, yes, you are a Nazi-wannabe since you're a pro-central banking, JIDF, Zionist shill account.

Since your insinuation implies that you disagree with my statement of factual, objective reality that exists, I can only assume you're a far leftist American, metrosexual, coward, brainwashed, or otherwise shell of a man that would likely die within 5 minutes of being placed in a timeline at any date before the 1900s.

Need to get my new Bitcoin miner working now:

Ask not what your coin can do for you, but how you can help pump the coin.

Price is pretty much guaranteed to be $600 or higher after halving in 7 or so months, so this rise will probably go to $600 or higher when there's not much risk of buying right now.  You need to be suicidal to try and short this under $600.  This could be "the big one" and it just keeps on going after $600 though.

$17k in 2025 seems way low balling it.  Before the next 2008 financial crash, we will likely see another bull run to take BTC to 3k-10k.  When the price is already at levels that high, the financial crash will create a true black swan event to turn Bitcoin into one of the biggest currencies in the world.  All of that stuff is going to happen long before 2025.

People really think the drive to Walmart economy is going to last another 10 years? lol

Finally the first retrace to kill the excessive BFX longs.  We can't go up more without getting rid of some of them first.

This is how it works guys.  Too many parasitic Finex longs who weren't doing any of the leg work to raise this thing get punished and the people who were raising it get the reward.

Ok, all BFX longs wrecked, now we proceed to $10,000.

Welp, called that one perfectly:

FOMO reload

10/10 shakeout

Would shake again.

Dis coin price small like girly man.  It is time to pump it larger.

I have traveled to China to learn the money making secrets from famed author Jun Zi.  I am now ready to out trade all of you.

As much as I would like it to go up, I don't see how it's not gonna dump some then create a new more sideways trend line after this point.  Probably dump to 2750-2800 yuan, but BFX longs might get scared and create a shit storm to go lower:

$500+ by end of dec is looking legit.  Supposed to be some type of possible implosion on Dec 16 when they raise interest rates, so owning Bitcoin on that date is a pretty good idea.

I was on Coinbase exchange watching it while it was going down.  It honestly looked like a bot was haywire constantly buying then dumping over and over for no reason.  The trades weren't spread out over a long time or anything, it was literally milliseconds apart just constant spam.  I'm not sure if anything actually happened besides some random guy losing a shit ton of money in exchange fees, which he is probably trying to dispute with Coinbase.  The net effect of his bot's actions didn't drive the price up, it drove price down a couple dollars below Bitstamp.

You made the mistake of assuming someone who puts up multiple $2 million sell walls on several different exchanges in the exact same position wants the price of Bitcoin to go down even though they own millions of dollars worth of it.

People in the west are just proceeding cautiously until new floors are established by China.  Once China manages to hold certain levels for a long time, then the west builds walls there.

In the west you have the traditional barons of industry trying to suppress price and accumulate and pump later.  In China, they have more immediate utility to use it to move money out of the country, so the spread is higher there, which means the West is forced to trail China and only build support after China has proven that level to be stable.

China ate the last dump instead of letting it fall, so it looks like they're trying to build a $450 USD base.

It's like when insiders shorted airline stocks before 9/11...except hedging before the bottom drops out of the stock market instead.

The price didn't come this far in order to form a double top, whoever thinks whales won't push it higher to avoid a double top has mental retardation.  For anyone who shorts here:

If you actually watched the market live yesterday, you would have noticed China was very determined to absorb the dumps and hold price above $450 USD.  They have no plans to attempt to implode the market at this current level.  I'm definitely not worried about going to sleep with coins at this price.  The buy side is also far more bullish right now on all exchanges than before the dump occurred.  Shorting right now is pointless.  Worst case scenario it goes sideways.

Bitcoin is going a lot higher.  Even if Bitcoin went to a million dollars each, most people who currently own some would not be able to afford this boat.  Going to $10,000 is still chump change.  That's why it's definitely going there soon:

http://www.denisonyachtsales.com/yacht-broker-listings/?rPage=/privatelabel/listing/pl_boat_detail_handler.jsp?slim=pp284110&units=Feet&boat_id=2866791&primary_photo_id=0&primary_photo_url=http%3A%2F%2Fnewimages.yachtworld.com%2Fresize%2F1%2F2%2F37%2F5260237_20150723185356414_1_XLARGE.jpg&back=%2Fprivatelabel%2Flisting%2Fcache%2Fpl_search_results.jsp%3Fsm%3D3%26cit%3Dtrue%26fromPrice%3D100000000%26

All you need to do is turn on this song and stare at this picture:

https://www.youtube.com/watch?v=OBwS66EBUcY

Interest rate hike is bullish for Bitcoin.  All excess liquidity from 0% interest went to stock buybacks creating a bubble in that market.  It did not create a bubble in Bitcoin.  Bitcoin was in a bear market the entire time from Gox.  

Stocks imploding when liquidity is removed means investors have to leave that market and go to a new one to try and increase or preserve their wealth.  They aren't going to put everything in a bank and make nothing while also having faith in banks at an all time low.

People trying to hold it at $450 but didn't really put enough effort into rigging the charts, so it's either a bear trap to squeeze shorts or a drop

edit: bear trap

Ok...definitely a bear trap.

If you want to collapse faster, you can just go ahead and travel to Venezuela:

This is how 0.037 Bitcoins looks like in Venezuela

https://bitcointalk.org/index.php?topic=1150751.0

Looks like some random idiot accidentally hit the wrong button somewhere.

It sounds like you went full fiat at $230 and are mad the price went up.  Somebody blew up the exchange with an abnormally big sell right at the start of a price rise.  It was either on purpose to try and stop it from rising or they did it on accident.

I was right, we are about to do a +10x to $3200

So we can't use fiat either because the Swiss franc went up 30% in one day and caused millions of dollars in loses for people?

http://www.wsj.com/articles/swiss-franc-move-cripples-currency-brokers-1421371654

All signs point to deflationary collapse.  The govt will then print endless trillions to try and stop it, but none of the money will circulate in local economies.  I'm not really sure what happens at that point.  I'm guessing a mixture of both. Some things will be getting pumped to the moon while others deflate in price.

It seems like the excess printing would eventually have to spill over to the normal economy, but you can probably collapse before that happens, so their printing basically does nothing in that case.

Bitcoin is going to the moon after they implement these two new taxes:


Rape Culture Tax

https://www.youtube.com/watch?v=c7uVxHLT-aY

Caucasian Tax

https://www.youtube.com/watch?v=DYwY85K1MB0

Is Gavin the leader of the confederacy since he tried to secede from the union?

And why are you on a Bitcoin forum in the first place if you're always promoting leftist ideals and now anti-confederacy when the confederacy was the original libertarians of this government?

Leftist extremism is not the future.  We've already reached peak leftism, peak government, peak collectivism, peak feminism, etc.  You can only go down from here in your SJW ideology.  If anything, we will return back to the culture of the 1800's and early 1900's after all this garbage collapses.

It's always funny how people advocating these bullshit ideologies don't even know Hitler and Stalin are both technically leftists.  Anarchy is far right and peak government authoritarianism is far left.  It's funny you refer to the "far right" as nutters when leftist collectivism is inherently pro slavery.  One man's free stuff is another man's indentured servitude.

You're a Marxist-collectivist and use the normal leftist tactic of trying to force your ideology onto everyone then claiming they're a "bad person", "racist", "sexist", blah blah if they don't want to join your collectivist nightmare that's already resulted in the deaths of millions from your last Bolshevik revolution.

Nobody wants to join your SJW bullshit that demonizes males, anyone who isn't poor, white people, etc, the usual common targets.  You have a mental disorder called far leftism where you were dumped into too many trashcans by stronger kids while growing up, so now you can only relate to people deemed underdogs by society and shun anything considered strong or normal.  It's a mental disorder plain and simple.  Stop trying to pretend you're normal and people should adhere to your disorder.

I'm excited by the large amounts of shorts already in ready to be squeezed.  Do these guys ever learn?  It's probably the same people who got squeezed when the price was $330.

Lol @ that chart.  I sold at 450 before it went down and hoped it would go to 1 penny so I could rebuy but there was far too much buy support at $400-410.  China pulled out completely to try and crash it on purpose but there was way too much western money to prop it up.  I bought back in at the 420's.  There's also WAY too many shorts already in now that have to buy back in for it to even crash now.  The fact that it's still going up even after all those shorts means the rise is back in business.

There's one single guy on Bitfinex with like a 5 million dollar short trying to manipulate downward on that exchange.  He's probably going to get squeezed:

BTC-E leading in price again.  This fucker trying to manipulate down on Bitfinex to make his $5 million dollar short work is gonna lose if Bitstamp and even BTC-E aren't gonna follow Finex.

There's no such thing as a "bogus transaction" or "spam", that's a LukeJr fallacy.  Minimum transaction fee is the anti-spam mechanism of Bitcoin.  Block size is an arbitrary retardation of throughput.  In an actual functioning system, you would want to encourage people to "spam" the blockchain as much as they want as long as they pay transaction fees.  If you want to try and differentiate between certain types of traffic, it means your system is broken.

The problem is not spam, the problem is that Bitcoin probably needs at least a 0.0001 minimum transaction fee, especially if the block size isn't raised.  Zero fee transactions never should have existed in the first place.

4MB immediate hard fork is the only viable solution imo.  Then segwit can be used as a bandaid to increase further in the future with or without a fork, effectively taking it to 8MB or so.

IBLT is not a requirement to increase block size.  This is their standard stall strategy where they introduce an endless stream of random variables that just have to be addressed before anything can be changed.  IBLT can be integrated later.

The "oh no, loss of decentralization!" excuse is also ridiculous when block size would need to go pretty huge to outweigh the mining pool centralization that already exists.

I give it around 100 years max before the world is blown up from WW3.  Current block size would be around 1 terabyte by the time that happened vs around 8 terabytes with 8MB blocks.  This is without even having pruning involved.

So I read that and it has lots of words but basically says nothing.  It claims some type of Alex Jones' style "false left/right paradigm", then doesn't even describe a legit pathway forward or how each side is blocking that from occurring.  IMO, Bitcoin will need to scale to at least 8-10MB blocks even with a Lightning Network because the masses have to retain access to the main chain for it to function.

The $5 million dollar Finex shorter has now covered and stopped manipulating down.  Time to go up.  Now China manipulators + Finex manipulators both have longs in around 420-430, so it's probably going a lot higher.

The incentive to prevent people from spamming the blockchain is minimum transaction fee.  If people are spamming the blockchain for no reason as an attack vector, it means minimum transaction fee should be higher.  Zero fee transactions never should have existed.  Since finite block size is an open, readily available attack vector, the one thing the small blockers have going for them is, it's inevitable you'll reach a fee market no matter what you set block size to.  I still think Bitcoin needs to scale to around 8-10MB blocks to not have a glass ceiling on price, but it should be able to do that with time.

Also, even though I want block size increased, since the blocks will become full no matter what you set them to, it's probably better to let them fill first to test how the system works and create solutions for whatever problems occur rather than dealing with the same problem at 10 or 20MB blocks later.  So yea, raising the block size isn't really that urgent yet as some people say.

Do all your posts really have to be pushing Marxist propaganda?  You understand literally nothing about women, zero.  The word sexism implies that men and women are equal, when women are basically large, irrational, overly emotional children.  There's not a single woman walking the earth that respects a guy that thinks a woman is their equal.  Women only marry up.  If you're not stronger, smarter, richer, and basically better than them at everything, they want nothing to do with you unless they're "settling" after old age and desperation.

The simple act of you claiming women are your equal basically removes yourself from the gene pool entirely by admitting you have nothing they want lol.  Since leftism is a mental disorder where people who consider themselves weak and pathetic can only relate to other people or groups deemed by society also as weak, abused, mistreated, under-represented, etc, occasionally two leftists will meet and procreate with each other, then spawn some kids that fail at natural selection and constantly expouse their leftist, communist views continuing the cycle until humanity ends from reverse evolution.

I feel like there's some whales on Coinbase that know something I don't.  Some guy earlier was buying coins by the truckload at $430 while Finex was $421.  Now I feel like I'm going to wake up tomorrow and see -70% stock market crash or something.  It's also amazing how much buy support there is at $425.  Anyone waiting for those mythical sub $400 coins is shit out of luck.

We need to all vote for Bernie Sanders to make this happen to the price of Bitcoin:

If we all vote in dysfunctional communists to implode the economy on purpose, the price of Bitcoin rises.  Half the people in this thread are communists (hint: anyone with last name goldstein, goldberger, bergsomething), they will vote for him anyway.  Might as well help pump Bitcoin.

You can at least walk into a Subway restaurant and buy food with Bitcoin.  Who takes gold for food?  Nobody?  Maybe some place in India?  Or maybe spending a $1000 gold coin at $1 govt face value?

I present to you

BitMutiny: The case for a Bitcoin hostile hard fork 

https://bitcointalk.org/index.php?topic=1317450.0

Not really, the price per coin would go vastly higher due to increased money velocity and collateral bid system instead of the current mine and dump system.  Holders would strike it rich from increased demand on the float.  

Nice, I'm Norwegian & Norman descent (same thing).

Cornbase looking weird

Raising block size has nothing to do with XT.  You can stop the propaganda lies now.  There's no such thing as centralized Bitcoin development.  Anyone is allowed to create any changes they want and have miners vote for it.

I don't see it going to $350 under any circumstance.  If the rally is over, which it might be for a while according to macro wedge breaking trend, then it would find strong support around $410 still.  If there's a dump, that's where it will go.  If a second dump occurred days/a week later after that, it would find big resistance again at 390's.  Worst case scenario would be $360, but would probably require a long time to get there, and by the time it did, would be time to go up again for getting closer to halving.


  

It's easy as shit to dispute his arguments.  He's basically claiming that if the blocks ever fill up, then Bitcoin has failed.  Since Bitcoin can't scale to world reserve currency without really fucking big blocks (133MB with lightning network and way higher without it), it's pretty much guaranteed to have full blocks and a fee market no matter what you do.  While I do think Bitcoin needs at least 8MB blocks to remove most of the glass ceiling on price, his logic is not sound at all about it succeeding or failing based on blocks being full or not.

That post might impress Bitcoin noobs into thinking there's some type of crisis, but blocks becoming full was always destined to happen from day 1.  The real issue is that Lightning Network does not exist TODAY, and so blocks should be raised so that Bitcoin has more room to grow until that happens, assuming Lightning Network is even the solution to all our problems in the first place.  The way I see it, a collateral bid, deterministic block production system with something like 1001 fixed block producers is the only low hanging fruit I see to solve decentralization and on-chain scaling at the moment:

https://bitcointalk.org/index.php?topic=1317450.0

Bitcoin is not built for decentralization in the first place.

You can't get decentralization without one of the following:

1) Having users expend PoW to process their own transactions just like how it was done with email.  IOTA doesn't seem to be quantifiable security-wise though...

or

2) A collateral bid (not flat rate), deterministic block production system with a fixed number of nodes where you're required to lock collateral for an extended period of time to be one.  This makes it so decentralization is built in at a protocol level by having a much greater limit on Sybil.  Mining is also really just a subsidized futures contract in the first place where you're required to lock collateral to speculate on it.  

I argued with Gavin that Bitcoin is designed to monopolize due to the following statement below, but he claimed you hit a nash equilibrium by gaining something like 30% hash rate (i forget the exact number).  Either way, my view is that centralization is built-in at a protocol level for PoW.  If he's right, then I guess it would not monopolize, but the pool makeup would probably always resemble something like it currently does with 4-10 major players.

If 80%+ hash goes to 2mb AND exchanges go to 2mb, the old branch is going to be worth 0.  Everybody knows it.  People who are claiming otherwise are just flat out lying IMO.  If that happened to Dogecoin or any other coin in the universe, it would be the same.  Bitcoin will be no exception.

If one chain has that much hash power it is not even a contested fork.

Lightning Network has to raise block size higher anyway.  There was never any plan to stay 1mb forever:

https://en.bitcoin.it/wiki/Scalability_FAQ#Doesn.E2.80.99t_Lightning_require_bigger_blocks_anyway.3F

There's no reason to be in the market now until the classic fork is priced in.  The fork will drop it temporarily to at least $320, then set for a new halving rally to probably 800+ after it's all over with.

Don't forget Luke Jr & Gavin.  Basically all of them except maybe Wuille, Garzik, Wladimir have threatened to rage quit if they don't get their way?  Then Peter Todd beat everyone to it and already semi-rage quit when Ghash got 51%.  Can we get a 100% rage quit count if nobody is allowed to be dictator of Bitcoin?

It's funny how the dev side has more small blockers, while the speculation side is almost entirely large blockers nowadays.  Why is this?  Because the dev side doesn't understand markets.  People evaluate stocks by things like cash on hand and future expansion prospects.  If blocks are full, this is bad for speculators because you're no longer getting price appreciation from increased utility, but relying entirely on things like Gresham's law to push the price up for your artificial scarcity tokens with people hoarding it.

Relying on price appreciation through artificial scarcity of coin count and block space is a magician's trick.  It may or may not work, because as we all know, things like Litecoin and a million other altcoins exist.  No matter what you believe is the proper technical solution to the problem, the wise speculator, economist, or even honest human being is going to prefer to increase price via increased utility rather than increase solely by trying to recruit people to invest more.  If you're not increasing utility, that's the point where it does turn into kind of a scheme.  Unless you're going to try and claim the markets currently have vastly undervalued Bitcoin, but that's a different argument.

Things like Lightning Network will increase utility a lot by increasing throughput, the only problem is, it's currently nowhere to be seen.  People demand an increase in utility now, otherwise they feel stupid to invest or tell others to do so because it seems like a greater fool theory when utility is not increasing.  This is what the devs do not understand, and Segwit is kinda too little, too late.  This is the reason why I believe the blockchain does need an increase, to allow expansion until something like Lightning Network is released (assuming it works).

The bottom line is, due to the factors cited above, an increase in block size can really only be beneficial for price, assuming it didn't infringe upon decentralization, and you would need very big blocks to centralize things more in comparison to the size of mining pools that already exist.  Whether you're trying to avoid the greater fool theory, or if all you care about is making money and don't give a shit about anything else, you're going to be in the large(r) block camp.