and will only sell (a part of) my coins at at least $500

I dont like shorting per se, but you would be crazy not to at 243 on a Sunday afternoon.

money which the bitcoin holders have put into the system, and expect to get back from it ---

Bad excuses, goods and services providers will get dollars back immediately

It does not matter.  If you buy 1 BTC today, the only way you will get 240$ worth of goods tomorrow is if tomorrow's new investors, after buying all the 3600 coins that will be issued tomorrow, will also buy from BitPay the 1 BTC that you spent on said goods.

What is this up trend due to?

When it was the the Greek problem it was logic,but now?

I think the big issue with the terms of bitlicense are to do with how they define Virtual Currency Business Activity.

the language they use is arcane and open to misinterpretation.

What is Digital Asset?

A digital asset is any object of text or media that has been formatted into a binary source that includes the right to use it. A digital file without the right to use it is not an asset!

Trust me, the regulators have excellent job security

Most of the submissions in response to the DFS proposals were centered on refining the scope

Local Bitcoins blocking New York, the financial center of the world, due to Bitlicense regulations.

is crypto done??

Thanks for this... This is interesting. Theories, why someone is doing this?

I bet someone is hopping for another margin cascade?

Trading Forex you don't really get to see the order book at all.

Thats why I said you dont really get to see the order book at all as you can see your brokers order book if your a level 2 customer but you can't see the order book of all the other hundreds of brokers simultaneously.

Your argument doesn't make sense

If the whole order book is hidden then there is no way at all to manipulate anybody just by using the order books. If you are able to see the entire books then there is the ability to manipulate people using the order books with fake orders that the owners have no intentions of being filled. Is this incorrect?

So is everyone supposed to sell their coins and then repurchase them on Bitcoin XT?
And where do you go to buy Bitcoin XT coins?

Ahahaha, it's a crucial time for everyone.

I have NOT sold, and I am just attempting to figure  out the best point to buy some more. 

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

The "moderation" going on is frankly disgusting. How the hell can any compromise happen if you use force make the opposing side of the debate just shut up?

1BTC = 2BTC soon

many don't understand that the new code in XT will be active only if 75% of the network actually runs it 

Well, I said this few years ago, Bitcoin is not BitTorrent, bitcoin is a financial instrument and will be heavily regulated, you can try to fight it now, but you like or not, these things will eventually happen...

I know that many people here are libertarians, and I know that they will really hate me for saying this, but I don't wish to live in a world where crime is considered the price or the cost of financial freedom, why not have both security and financial freedom at once?

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

Higher fees don't remove the upper limit of 7 transactions per second. Is that so hard to understand?

You are a pessimist and a pessimist is a not well informed optimist.

If you think Mike and Gravin are idiots then Satoshi is a retard to..

I aggree it's kicking the can down the road. It's a temporary solution to a problem that can become significant next year.

EDIT: And yes, I trust Gavin more than Wladimir.

No. Why do you believe that?

The FUD is strong in this one, lol!

A higher capacity system will be a lot more expensive to spam. I can't help you, if you don't understand this.

If there is so little significant support for XT, what are you afraid of? 

Core devs are invested in blockstream, without a block limit their project is pretty useless

XT are going up, btc price is going down.

bitcoin will be up with XT or without XT

Perhaps the problem is that Bitcoin has some leadership issues.

Perhaps, but it takes quite a bit of incompetence to lose the status core has.

Indeed. The markets are clearly reflecting that..

What's wrong with having several teams each in charge of their own competing implementation?

i never ever thought that 2 persons had so much influence about bitcoin to destroy it

The issue is, first of all, who will be in control of bitcoin's evolution: Blockstream, or other people?

Then there is the question of whether saturation and its consequences ("fee market", long delays) are "good" or "bad".   Blockstream definitely wants saturation and does not seem willing to accept any compromise.  Their motivations are not clear, though.

Amazing how Adam Back, Ph. D., with two months of relentess FUD and personal smears, without any hard arguments or data, has managed to turn the question "1 MB vs. 8 MB" into the holy war "Heroic Blockstream devs vs. CIA agent Mike" in the heads of so many bitcoiners.

XT has reached is goal imo to put more pressure.

Now it seems obvious that we should have several groups of developers working on competing implementations. 

If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying? You can't charge rent on something you've already sold. That's not how business works. That's how the State works.

"Bitcoin is the future," they said, "Money 2.0."  Fastest, cheapest way to send money around the world.  And now I can't even buy coffee anymore?

Great fun to see Peter Todd make a fool out of himself during the scaling conference today.

I'm so confident that bitcoin will scale, as long as these ideas are out there. The best code will win!

w00t! 50 coins sold in the $260s. A parabolic raise is totally sustainable over a weekend....NOT! don't worry boys and girls. I still have PLENTY left to dump on your heads if you wanna really test $270. 

No I didn't! I had ONE sell order @ $259.22 but I pulled it yesterday before it tripped. 

I think bulls have used up too much ammo to punch through $300 resistance, but we'll see. 

I'm lending out my fiat for $5/day for every $10,000.  I don't care if it ever comes back down.

When chinese exchanges get increasingly out of sync with the rest of the world, a good correction is nearby.

A friendly reminder:

Better sell before and profit from easy 50-150% $$$$$ earnings.
Buy and hold = boring and slow profit, if never sold, no profit at all
Buy low, sell high = more risk, more profit (BTC and $$$ wise)

DUMPPPPPP

"manipulate" - Come on,  We had 9 daily green candles!


"Still a strong buy on dips!" - Whales now have juicy  bids for sell off.

The charts on daily, are already painting a nice top doji .

Prepare to sell Hearn just went nuclear on the XT FUD, Core bashing in extremis ...

https://medium.com/@octskyward/on-block-sizes-e047bc9f830#.366dmgcto

Did I ever tell you that only fools invest in currencies?

I started shorting @ $399 and kept shorting the whole way up.  I could have shorted twice as much, but after covering @$380, I know have enough to safely short Three times as much if we come anywhere close to $420 again.  I also transferred in some coins I was using for arbitrage just so I have some extra margin.

Try it again, Bulls. I double dare you.  See if I'm bluffing.   

what is it that we are missing? them buyers know something...

I sold at $390, and still winning.  I will not be re-entering until we're back in the $230-250 range.  I have little doubt it will get there.  I have patience, I can wait.

We are not going to stabilize anytime soon with this ongoing level of insane trade volume.

You've made 20k bucks over 2+ years? And it's all unrealized profit

Bitcoin has lost 2/3rds of its value over the last 2 years, and you still haven't learned the meaning of unrealized profits

This is a thread for bitcoin traders. People who trade bitcoin. What you're looking for is a thread for bitcoin cultists, where people believe in bitcoin

'Dollar-dedicated forums'?! Those are as common as forums celebrating having teeth, or promoting the advantages of not constantly poking yourself in the eye with scissors, i.e. not common at all. Care to guess why?

Not that bitcoiners don't try their best to be pests.

You harass Wikipedia & other businesses for not wanting to take your pointless tokens, you write creepy manuals on trapping unsuspecting neighbors & coworkers in an elevator, so that they couldn't run from your MLM bitcoin pitch.

so Russia bombing someone means they want them to use the Ruble?

Since it became a self-proclaimed Islamic state? Where do you libertardian sovereign citizens stand on such matters?

I do not support ISIL any more than I support Somalia or Canada. Just answering your question.

Some whale entity has the market by the balls. He can do what he likes, and what he likes is everyone elses FIAT.

If that is the case he don't got mine

Where have you been?  That has been the Number of the Beast since the First Halving (2012-11-28).

In a "permissioned ledger" (i.e., a distributed mirrored decentralized tamper-resistant database for a closed set of non-anonymous, legally bound entities), transaction processing would be done by the member entities, for whom the service would be compensation enough; and/or by external contractors, who would get paid in dollars through banks, the old-fashioned way.

I think that this will be the exit spot that I was expecting.

My game is with bitcoin dependent alts when stuff gets interesting with bitcoin.

And here we goooo!
$371 when will it stop and breathe. 

Bitstamp will switch to Bip 101 this December

what makes me really sick in all this is, if i have a large amount of money at the bank i have to pay negative interest rates (here in germany a few banks are pulling that off already), and on the other hand if i use my credit line i have to pay between 9 and 15% annually, too - win win for the banks, lose lose for the normal guys.

Bitcoin has allowed more people to do a shitload of shady shit, more shady shit than you can shake a stick at.

Yes, fiat has also been used in shady shit. Unlike BTC, it has also been used to build roads, hospitals, and for buying baby formula.

i´d say 400420 
 

How does that work?

So what you're telling me is shorters are actually Good For Bitcoin?

Yeah, having been called an idiot/troll/shill by the "1 MB is sacred" crowd for months did spoil my academic detachment, I confess. 

For one thing, development has been stalled over the last year by the feud between Gavin and the small-blockians.  Gavin has coded and tested BIP101 (the only one of those BIPs that has been implemented, AFAIK) several months ago, but has not been allowed to put it into the core.

But, apart from that, a good software developer is not one who makes lots of changes.  The best way to increase the block size was coded by Satoshi in 2010, and it is a one-line patch.  Blockchain voting is a significant but pointless complication, with many things that could go wrong (in the code and its operation). Too bad that Gavin had to add it for BIP101 in order to appease the ideologues.

The problem with Greg is that he does not really like Satoshi's design, and has his own strong ideas on how bitcoin should be.  He has been pushing for that vision for a couple of years at least; and now that he has the power, he is bent in implementing it. 

The Core devs certainly are not in "maintenance" mode.  Just the SW proposal is a major redesign of a data structure that iis shared by tens of thousands of users and hundreds pf independent applications.  One should not be adding all those new features to a production system whose users and app developers are still struggling to cope with.  In fact, with their plans for the "fee market" and the off-chain processing, they are in full "retargeting" mode  One should not try to do a major redesign of the functionality, like the fee market, without knowing whether it will work or not. 

Greg may be a good cryptographer and programmer, but he is not a good software developer. In fact, it seems that he does not know what that means, and does not want to know ...

and banks need to slowly accept their diminishing role.

How? You start selling derivatives and paper certificates of it.

price looks set up for some Crazy swing...

I predict a correction over the weekend, but still hanging over $400 which is all good.

has anyone any idea though how efficient this new gen of miners are that are clearly pushing the hash rate so high.

Sub $400 is the new MUST-BUY zone.

I took some profits just under 450$

Stamp Whale Bear looking angry. I smell a correction.

Wow, nice one! How did you see that coming if I may ask?

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.

epic fight here

Which of you is reckless enough to stand beneath the Stamp avalanche?
I pity the fool!

the price has gone from $250 to $450 (up 80%) in just 2 months with no real positive news eg no increased adoption etc.

wasn't the drive to $1000 created by the willybot so that when it all came unstuck the price simply went down to around where it might have otherwise have been.

I also would like to hear people's wisdom on this.

i feel is waaaay to risky to buy bitcoins at 400+ in an economic environment that is worsening each day

Not necessarily.  If people start having less money due to a decreased ability to borrow and leverage,  or otherwise,  then they won't have as much speculative money to support the price.

People who can't afford to be speculators have their money in food,  their mortgage payment,  their car payment,  and running their business.

Were discussing what could happen in a weakened economy.

   

• Very soon libsecp256k1 will be used for verification, which speeds up initial sync time by 400%-700% and reduces CPU load for all full nodes.
• A segregated witness softfork will be done ASAP (within 3-6 months, probably). This will at least double the effective transaction capacity (ie. it is equal to or better than BIP 102), and at the same time it will provide features important for safely scaling even more in the future.
• There will not be any hardfork for at least the next ~year.
• To pave the way for scalable hardfork max block size increases (which will eventually be necessary), and because it is already dearly needed, improved block/tx broadcasting technology such as weak blocks and IBLT will be implemented, hopefully soon after SegWit.
• The BIPs necessary for efficient deployment of Lightning are already in the pipeline and should be rolled out in 2016. Lightning will allow for almost all of the security, features, and decentralization of Bitcoin transactions while drastically reducing the number of on-blockchain transactions that each individual will need to perform. This is expected to be the real eventual solution to scaling.

That was Blockstreams game plan from day one.

This is awsome!

"OMG I just discovered unreddit.com! It shows all the comments that have been deleted in a thread! Now you can see all the comments that theymos has been deleting from /r/bitcoin!"

https://www.reddit.com/r/btc/comments/409kcg/omg_i_just_discovered_unredditcom_it_shows_all/

There have been deleted posts warning people of potential loss too. Then not long afterward there was a lot of loss.

I'm not talking about trading. The warnings were about an exchange that remains nameless.

The number of transactions a day is increasing and the blocks are getting fuller.

The Bitcoin Believer Who Gave Up

He's basically claiming that if the blocks ever fill up, then Bitcoin has failed.

The only money that's going into transaction fees is the money that's coming out of BTC market cap.

You're effectively getting a negative return on the blockspace you're selling.

Instead of shooting the messengers, we could also fix the problem. Adopting Bitcoin Classic would be a good, first step.

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.

...
The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.
...

Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC

Price is dropping because Bitcoin Classic hardfork is being priced in.

Consensus is forming, brace yourselves

$ 366,12... Man, what is happening with the Bitcoin?  

So this is all because of Mike?

Drama queen or not, he had some valid points - not necessary technically, but about the whole deadlock situation and censorship.

Why can't the mainstream press just leave our Bitcoin alone?

From what I can tell BitcoinClassic has 50% commitment and they're about to add another 23 ...

R u guise planning on forking at the same time to lower the difficulty and change the PoW for your <25% cripple chain side?

... I asked you how you plan to do that with less than 25% of the hashrate of Classic.

Unpleasant Fact #3:

I'm always interested to hear a coherent argument against something that appears completely natural and obvious to me

You could stick to Core till the fork, after that, you will need to use a client compatible with big blocks, the other chain is going to die quickly.

Everybody knows Gavin works for the USG. Don't be a fool!

Big banks behind Bitcoin. Lol. You guys are too much.

When you take away child's toy, he is upset...His reaction just shows his arrogance for the last couple of months

Only dumb people think there is a need to have a blocksize limit in order to have the store of value function.

So - big block fans - where are the signatures of the clearly tens (or hundreds) of thousands of frustrated wannabe Bitcoin users that are only not using it because of the block size?

Of course there are none - the only people complaining about it are the payment processors hoping to get rich and those that are wanting to take control of the project.

It is good that Mike Hearn has left - but we still need Gavin to leave as well IMO (as he is not giving up trying to take over the project as is obvious from his quick change from XT to Classic).

Do you even realize that the long term outcome of Lightning (the Holy Graal of Core folks) would be to massively reduce the amount of transaction fees versus an on-chain scaling?

What kind of person thinks a company exists to employ people? Your statement betrays a fundamental misunderstanding of economics. The network does not exist to support the miners. Miners exist to support the network. 

Lightning reduces transaction fees so it's detrimental to your own objective to make Bitcoin more secure.

Hell is paved with good intentions.

I am tired of all that shit. I quit Bitcoin until the next ATH.

Bitcoin classic will release its code next week. Bitcoin is saved. BUY BUY BUY.

Speaking of volatility... I am not sure what to make of this recent price action.

You are so funny.

Chinese mining doesn't reject Classic. This is just FUD from C0re people.

The death of bitcoin has been proclaimed once again. Prominent developer Mike Hearn’s recent comments that the bitcoin experiment was over mark the 89th time the digital currency has been pronounced dead since it first launched in 2009, at least according to one website dedicated to tracking bitcoin obituaries. While it's sad to see a talented programmer like Hearn turn his back on bitcoin, there are still thousands of people working on making the world’s first digital currency a success.
...
All successful projects face problems as they grow, thankfully there are a multitude of brilliant minds working to solve them. In five years, hundreds of millions of users will be sending money on the internet as easily as they send chats, and the only obituaries being written will be those of the traditional banks.

http://europe.newsweek.com/bitcoin-too-big-fail-418481?rm=eu

the price seems to be getting back after the previous drop, the blocks are getting filled more and more often, i hope this problem will be solved as soon as possible as its definitely not a good thing for bitcoin

You seem scared.

What will you do when the hard fork happens?

Bitcoin is already failing as a payment system.

We wont give our costumers what they need

...especially with other better and efficient services raising... this really seems like a smart move.

If you increase transaction fees you decrease the number of transactions, so you don't increase the total level of transaction fees.

What I tell you three times is true."

Price will go lower before it drops lower in short term.

The Blockchain stunt to promote RBF was still a shitty thing to do.

the question is: does there have to be now competition or sometime in the future? at the moment with the block reward its not that big of an issue to have lower fee-income.

Fake pump inc...Bitcoin will go up when the block-size debat has been fixed.

Bloq has five customers, including bitcoin startups Circle Internet Financial Ltd, ItBit Trust Company LLC, and KnCMiner AB, and expects to soon add Foxconn Technology Group, which assembles iPhones and other electronics. Garzik said Bloq has raised less than $250,000 from his co-founder Matt Roszak's Tally Capital. The company's board of advisors includes bitcoin experts Andrew Filipowski, James Newsome, Nick Szabo, and Gavin Andresen.

Maybe ETH is helping with some of BTC's issues.............

We could call the Chairman of the Communist Party of China, because he absolutely could shut it down, but I think he supports hacking.

Impressive list up upgrades -

https://github.com/bitcoin/bitcoin/blob/v0.12.0/doc/release-notes.md

but it can't be sustainable until TWO very serious problems are fixed: Mining concentration and scaling. Of the two, scaling is actually the easy one.

This is where confusion comes in. Visa & PP aren't charging you for sending a verifiable, difficult-to-counterfeit digital packet. They're charging you for their services -- mediating disputes, chargebacks when enlightened counterparty fails to send you the stuff you've paid for, etc. Shit BTC simply can not, and thus doesn't, offer.

What price increase?

Dude, we're still trading at less than half the ATH 27 months later. The logarithmic uptrend has broken and smallblockers broke it. 

I'll stick with Gavin and his future vision for Bitcoin.

it ain't free if ya gotta buy bitcoins to write there.

You know how the big-block arguments are basically bogus? ... in the end they are appealing to cult of personality (Saint Gavin will save them)

You don't pay a penny. You pay a fraction of a bitcoin that was going up exponentially in value. Your coin has less chain-writing utility and so it doesn't appreciate as fast, if at all. 

Don't take my word for it. Look at the five year logarithmic chart.

Well, let's talk about mutiny.

But then, they somehow also have to deal with the fact that in the white paper, Moses Satoshi mentions the terms "Electronic Cash" twice, "payment" (in a non-technical sense) 6 times, but the term "artificial scarcity driven clearance network" exactly zero times.

there will either be a huge amounts of volume on the blockchain or not at all.

bitcoin is experiencing a huge pump right now i hope no one will dump it after the pump

look at those full blocks! but it's ok, we'll have some more room sometime in the middle of next year.

The same problem I have flying coach. No elbow room.

That's why I don't fly at all. Are you starting to get it?

You really think so? Have you taken a look at the Boeing stock chart lately?

we don't bet high, since china is the biggest base of bitcoin mining/trading.

I agree, but my concern is with their closed and ultra-controlling political system. since they're not a democracy, it's not good news for bitcoin that so much of it's structure is in the hands of a totalitarian regime... no?

its worth noting when Gavin first proposed making bigger blocks the biggest objection from the Core developers was its not needed and if it is ever needed the limit could be changed quickly. well it's needed and they now saying next year.

The Bitcoin Classic team will help realize Satoshi’s vision of making Bitcoin scale into a global peer to peer cash system, and not just a settlement network.

I know that you know that most people want bigger blocks - sooner or later.
Why keep saying stuff like this?

Can someone unpack this for me?

Who should decide what the fair price of a tx is?

Sounds good to me! The old supply/demand dynamic, right?

Now, who should decide how much demand there is for tx?
Who should decide what the supply of tx is?

It seems the cause of the problem is Core 0.12 nodes and miners not relaying valid transactions, causing the mempool to expand.

What is it in the tx data that makes them invalid?

Oh, so the tx are valid, you just don't like the clients. Why didn't you just say so in the first place!

If only demand increased as much as your ignorance..

Certainly, it is within your power and within your right to refrain from forwarding any transactions as you desire. But that does not really answer the question.

I repeat: I'd like an example of a centrally planned production quota winning out in efficiency over a free-market supply-and-demand model.

Hmm... Might be wrong but btc in itself is a perfect example of centrally planned production no?

Can you give me an example where production quotas have led to more efficient production of a good than the free market method?

Anyone else watching this unfold ?

https://np.reddit.com/r/technology/comments/48rac0/bitcoins_nightmare_scenario_has_come_to_pass/

You don't grasp the difference between quotas (in this case, cap) set by a central planning committee & a company setting *its own* production goals.

You really didn't read it did you ?

People have caught onto this censorship and are now flocking to /r/btc as an alternative. Users there are fighting to promote a fork in bitcoin called Bitcoin Classic which in the short term would raise the block size limit to 2MB.

Will $400 hold?

I've got to admit there seems to be much less enthousiasm around btc right now...

Why?

crazy how easy this whole mess could be solved, but core is not able to accept the HK-agreement

core is provoking a contentious hardfork with their silly behaviour. even if you are convinced that 2MB is unnecessary you should do it because the civilwar is much more dangerous than a hardfork.

You guys act like this is the first time the price has dropped.

In a worst case, let’s say that 50% of hashing power turns off at the block halving because it is no longer profitable for those miners. This would mean that we start getting blocks mined every 20 minutes on average instead of 10 minutes. But blocks are already 70% full today. If the average confirmation time goes to 20 minutes, it means that we will be at 140% of capacity on every block, and start accumulating a backlog."

The Bitcoin core developers better wake the fk up, grow the fk up, and start working with those in touch with global business needs.  Or they will eventually (and very quickly) find themselves in the dustbin of Bitcoin History.

Sure, they should not rely on free space.  But why do we need a centrally planned limit when miners are perfectly capable of determining their own costs and prioritizing transactions appropriately?

Becoin,by how broad your definition of a free market appears to be, the USSR was a free market system.

On top of that, Segwit is not a scaling solution. Neither is the raise to 2MB blocks. Both do temporarily fix the current full blocks issue though.

It's only as free as the miners allow it to be. As long as people who actually pay a fee get their transfers done in a timely manner, no amount of unpaid spam transactions matters.

Hmm... I don't understand you. 1MB blocks allow a really low amount of tx and btc is spreading. Of course there is a block size issue! Simply because the adoption of btc is rising and numbers of allowed tx is the staying the same!

My point is that unpaid transactions are only processed if independent individuals around the world willingly choose to do so of their own volition. What is your point?

Alex, have you ever written any code? It's a wonderful thing to try, even if you never plan to do it for fun or profit. It's, in a way of speaking, explaining complex things to a machine, a machine which, though capable of being quick and consistent, doesn't know its ass from its elbow without you telling it, procedurally, how to do it. Step by step.
This will prepare you for future interhuman interactions, like the one I'm having with you.
Bitcoin is not sentient, it makes no value judgements beyond truth values of variable, so telling Bitcoin "spam is the stuff we don't want, get rid of it" will only result in "Brrp! bleep bloop X=42."
Please tell me you understand, and that I don't need to resort to lower, register-level explanations.

But about fees & spam: Miners, according to "rational self-interest" argument, are sufficiently incentivized by "thou shalt not shit where thee sleepeth" commandment. They should not debase bitcoin by bloating the blockchain, thus devaluing their rewards. Caveat: They sell BTC for USD -- their wealth is not in BTC, so that's why.
So pushing for min fees brings attention to some serious shit, so not to be done.

It doesn't matter if we need it now. We will need it, and soon. The failure to upgrade well ahead of time is part of why the price is as low as it is, and why adoption isn't higher.

… if u are chasing bitcoin then u are not buying pms ….

money u spend on bitcoin is money not spent on pms.. simple as that .

I use a CC. It lets me buy shit instantly, with money I don't even give them 'til a month later = free loan.
Oh, and they do let me charge back, if some righteous bro sends me a brick instead of the laptop I paid for

Try making a pinky ring out of bitcoins, and come back to tell us how that went.

Wow, no Adam, no Chartbuddy...

Bitcoin is not even attempting to do what ETH does.

This is why btc can't lose to ETH, simply because it doesn't fight it. It's like claiming a fork is better than a knife.

Oh? You can seal a contract with btc? Then please what can you say you lend me 50btc and we seal the contract through btc?

Bitcoin is the rock of the crypto world. You can use it as a hammer, or make crude knife-like stone cutting things out of it.
Of course, no point in doing that -- we have real hammers and knives, stop trying to be difficult

The safest? With supermajority mining hardware within the political boundaries of the People's Republic of China?  That's like saying you're swimming in the safest pool except for that one giant shark.

yeah the blocks being full was starting to become obvious and a problem.. they are full 24/7 now .

Is it easier to disrupt the road system at 3 a.m. or during rush hour? When we are running so close to capacity, we become more vulnerable to intentional and unintentional service disruptions.

Nah, that's not basic economics, that's Beanie economics. If Exxon gasoline is in short supply, it doesn't mean it's suddenly more valuable & you can charge more at your Exxon gas station. There are alternatives -- people will simply switch to Shell.
Tacking on "That's basic economics" at the end only shows that you're yet to grasp basic economics.

All the in fighting and trolling is getting a bit too much lately. The way things are currently it looks like we don't all want the same thing which is bitcoin's price to rise right.

I hope to see some kind of consensus soon.

BTW is there any bad news we can attribute this "crash" too?

other like poncom short the hell out of BTC, and many will feel a need for guidance from THE Satoshi on all current issues.

Vint Cerf and Bob Kahn? Or because they worked for DARPA, the guy who started ARPA, Dwight Eisenhower?

WEB != internet.  TCP is internet  

Now that the world knows the Satoshi coins are safely tucked away in the bosom of the Tulip Trust...

problem is even the noobs now use google and have access to a wealth of information unlike 2013 when everybody was a noob,lol. 

Everyone knows we're heading for the moon as soon as we climb.

What's the deal with just sitting around and waiting? Get us up dammit

Is there a single exchange that offers margin that would ever be legit enough for a bank to have a play? I don't know of one. All the fancy ones in the US with proper licences don't offer it.

there is not enough liquidity in any of these exchanges for banks to start margin trading.

try and open 5 million$ worth of shorts, you'll drive up the cost of borrowing to astronomical levels.

but when bulls are starting to get overconfident, bears tend to come out of the woods.

wowzers very old coins on the move.

crash back  to 420 imminent

What if the old coins on the move offsets the thousands of people are opening their very first bitcoin wallet every day? Does that mean the price won't do anything?

Ruthlessly poking fun at those who cheerleaded Blockstream’s stagnation strategy via central economic planning is a perfectly valid contribution to the ecosystem.

this ETH/DAO hype must stop!!

Miners decide their own block sizes. 

Etherians elimminate usarious bitcoin middleman. Now buy Ether on many exchange with filthy fiat toilet paper.

The market will fix all in due time, either by miners tossing out the corruption, or by the market cap moving to a ledger that doesn't purposefully handicap itself at 3.5 tps.

Ethereum has managed to build an entire ecosystem of Dapps in 1 year. 

Bitcoin was pumped to insane prices by MtGox/WillyBot/Karpeles and his Cat or only China with the purpose of getting its value at over 2 digits, and making themselves rich in the process by dumping on the bigger fools. They've succeeded.

IF Bitcoin would adapt anything, at all. They are quite stern on refusing progress.

"Thanks to the help of several undisclosed Bitcoin companies – most likely exchange platforms – the Suspicious Activity Review Team was able to identify the destination for these Bitcoin amounts in the form of a deep web marketplace."

What it does claim is these unnamed companies ratted out their client helped the nice officers nail Darknet Spergmonster
How is it you can not read?

Darknet and deep web are used interchangeably.

Some dbag Ethereum pumper took out a 1000 BTC short to try and make BTC look weak while attempting to pump ETH at the same time.  The Ethereum scamcoin pumper is eventually going to have to give up when he realizes he's not getting BTC any lower:



Ethereum scammers had been dumping actual BTCs on Finex before this.  It seems they have now run out and can only short now.

Of course shorts are up, why would anyone go long on BTC now?

I meant DAO. DOW was on the front page of the Sunday New York Times.

Also, ive never seen so much fear in the BTC traders

Bitcoin must integrate intelligence right into the blockchain, protocol-level smartness is what's needed to contractualize the future of money!

Money IS debt. If not contract/debt, what is it

Look at it from a different perspective: it's almost impossible for a poor person to accrue substantial debt, only a fool would lend money to someone who can't pay. That's why bums don't live in mansions and drive Ferraris -- no one offers them that kind (or any kind of) credit.

Does this clear things up at all?

BTW, is Coinbase planning to delist BTC now that it upgraded to ETH? Any news on that?

Thoughts?

I expect the sell side to list something like 75 million coins for sale eventually.  It's kind of a useless metric unless all the exchanges listed actually do proof of solvency.

How about you scumbags just stop extorting hospitals before you get a jackboot up your ass, to demonstrate your willful negligence in securing it?
How would that be?

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.

.
And then along comes beedcoin and makes all the criminal shit that got burnt down ages ago fresh again: Ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc.

Criminals constantly evolve ("innovate," claw out new rat holes), and law evolves alongside, plugging up those holes. Laundering IRL money was once trivial, as was selling junk securities, promoting ponzis, numbers rackets, etc., etc. Those rat holes were plugged up, until you gentlemen came up with beetscoins and uncorked them again.

Jihan Wu is apparently tired of Gregory and Friends treating Bitcoin like their own personal plaything and tinker-ground.

Ideally, Core should change the PoW and have their own fork with 1MB4EVA and dramatic changes implemented via soft fork every three months. The ASIC branch of the fork could have a blocksize determined by the free market, by miners themselves... Then we see which branch attracts the most capital, and until spent or moved, your keys would be valid on both chains. This should have been done 6 months ago, we're like a married couple that hates each other and should have gotten a divorce a long time ago.

meanwhile, bitfinex shorts have increased in the last 24 hours

There are a lot of people though selling their BTC thinking that this is quite a good price to sell.

That's more than 50% increase in ~5 weeks.
I'm bullish, but this is wishful thinking imo.
With fingers crossed and 10x holy mary we may see 1BTC/$1000 at the end of the year on a sustainable basis.

Explain to me the mechanics of paying off a bitcoin ransom for the case in question:

The entire KnC Group declares bankruptcy.

i never understood all the hate. knc was at least trying to keep western companies in the race.

Governments should ask themselves the question whether they want cryptocurrency to be underground or not. Whether or not you regulate / ban something people want or need, they will get it.

Any idea why Coinbase is trailing so much behind compared to Stamp and Finex?

Coinbase is insured against theft and electronic compromise in an amount that exceeds the average value of online bitcoin it holds at any given time. Specifically, Coinbase's insurance policy would respond in the event that bitcoin stored in Coinbase was lost or stolen as a result of a breach of our physical security, cyber security, or as a result of employee theft.

Coinbase has held this insurance since November 2013 with highly rated carriers (S&P rating of A+ or A.M. Best Rating of A XV or higher).

This insurance policy does not cover damages resulting from a specific user's loss, such as the losses resulting from a compromise of the customer login credentials. Coinbase's insurance also contains standard policy exclusions (e.x. force majeure). Should information regarding this coverage materially change, we’ll update this and other relevant pages in a timely manner.

Correction time, nice dump on BTC-E...

To me it looks a bit like the west tries to keep the price below $500.

And food. The west produces food. In abundance.

This is insane!

Caught a 492 buy order while asleep like expected

Can someone call Mike Hearn please!!
So much for Bitcoin is done right?!
Look at this rocket you damn R3 shitster!!Eat it man!

Someone who sees how thin the bids are, and just wants to lock profits?

Not sure why well known bears are laughing & posting smilies.

Most of the time the bears are hibernating in the safety of fiat, doing nothing.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

How's that value doing?

Not promoting ETH, just answering why people may want to get paid in ETH

Please consider reading before typing. It's not that hard

Where do you see a problem? Grover (Elmo? whatever his name is) convinced his landlord to take BTC

dont worry about the big green BTC...its just me buyin 

lol, guys guys if u only knew what was happenin 

Ok, so now you've provided something solid. Let's see if it pans out.

551 on Stamp, keep going my beauty. Hope this doesn't get dumped on.

is stamp's liquidity always this low?

a 3.5k btc buy would take us over ath

I'm quoting Chartbuddy, a charting bot operated by a former Bitcointalk participant named Richy_T who posted here hourly until a couple of months ago. He had a falling out with BCT's administrator over what he considered to be unfair censorship in the blocksize limit debate and took his bot elsewhere.

i think we will close above 580.

I did saw a brief mention of it last Monday on the propaganda channel named "RT" in the economic news show called Boom Bust. But it was mentioned and talked about for a brief 30 seconds! And no mention of China in their short presentation.

Well that was interesting. West doesn't want to move up without a fight

ofc there can be a shortterm downtrend with lower lows... Why shouldn't there be such thing...

We speak in dollars here.

Bitcoin isn't tangible, forget stone. Just a bunch of bleeps and bloops, 1s and 0s, memory/gate states in a bunch of Chinese 'puter gear: it's literally *nothing*.

Sure. Use that worthless government scrip every day.

Hopefully we can hold $500

too many people are sniffing hopeium. $1000 looks to be the majority's picking. I think its a sign to short btc. I could be wrong though.

There is nothing theoretically preventing the price from dropping and miners going bankrupt, inducing lower difficulty.  

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

What is ETH actually for? What's so good about it?

I no nothing about it apart from its premined right? And there is no cap.

What are the good points?

The future is finally here.

and when I pay for a beer, I don't want to worry about fat-fingering an extra digit or including unconfirmed inputs.

You wanna be your own practologist, banker and brain surgeon, you go right ahead.
Something tells me you did try your hand at self-brainsurgeoning, and it worked out ...well, let's just say you tried

Seriously tho, I don't want to be my own ditch digger, bankster or ass surgeon, for basically the same set of reasons: I'd rather pay someone else to do it, someone who's good at it.

Nah, I like fucking,

Investing in gold right now is like investing in travel agents just at the arrival of the world wide web.

Are people forgetting that the "harvening" simply means 1800 less bitcoins (potentially) coming onto the market each day.

there were lots to buy before and there will be lots to buy afterwards. .

But whether this rise is due to the halvening being already priced in?

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

Cos once your out of bitcoin, yo in fiat. Quicksand.

I'd say the dumb money is in gold.

Gold does not have a password and its heavy!!! And with that I end my argument.

'Course that's not counting the equipment to measure and assay micrograms of gold for payments. That could be quite heavy, expensive, power hungry, ... ridiculous actually.

Yeah .. why not? It wouldn't be hard. The infrastructure would probably be terrible at first and we would probably communicate with point lasers in Morse code or with some weird ass trumpets that ancient sheep herders used in the mountains to communicate by sound. But I thought of a way to just bypass the electricity and use light directly to be readable from the optic fiber cable.

Banking system doesn't need bitcoin any more than it needs cancer. The banks handle fiat, why in the world would they support something that's openly anti-bank & anti-fiat?

What do you think China will do after it has too much coins? #WinkWink

I am back to USD for a while... made my profit. Don't see how the price can stay that way in a long run.

Stop selling God damn it!

They kill infidels and have poor money-management skills?

Anyone who holds a pure monetary asset for no other reason than they think it will hold its value is by definition a speculator.

Non-monetary assets have very different properties.

In particular, they depend on accruing value by productive growth. (i.e. they actually need to keep developing to stay ahead). Thats why, say, the likes of Ethereum have a big challenge because they can't rely on being the "first" to market. It can be much more easily replaced than bitcoin can and are exposed to the "MySpace - Facebook" phenomenon in a way that Bitcoin isn't.

We've already seen that by virtue of there having been hundreds of more technologically advanced alt-coins which haven't even put a dent in Bitcoin's marketcap. On the other hand, if a more technologically advanced smartcontract blockchain emerged it WOULD be likely to put a dent in ethereum's marketcap.

Sorry. yes - you are right. Someone who holds a non-monetary asset, for no other reason than they think it will hold its value IS a speculator.

http://www.zerohedge.com/news/2016-07-17/us-warships-surround-disputed-chinese-waters-prepared-war-wwiii-stake

Chinese-US military tensions usually lead to some smoke in the financial markets ... currency devaluations, sovereign loan dumps, central bank interventions, etc.

TIL,  Elwar is a CIA agent...  WWOOOwww

I'm liking the amount of FUD. Hoping for some panic. Just a few days is all I need.

ETF is bullshit (not bullish). winklewees are ever failing wannabes burning through daddy money.

trading paper coins will certainly not lead btc price higher.

just look at how gold ETFs are used to lower its price, flooding the market with their monkey gold.

What percentage of your BTC holdings are you trading on these kinds of swings?  100% of it, or some lower amount? 

Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

FTFY

Contentious soft forks are the way to go, what better way to change our immutable protocol than by dragging along all those who disagree with us? It's the cypherpunk way.