WHy not use Litecoin instead? Or Dogecoin, they have enough coins, no need to inflate the price.

https://www.youtube.com/watch?feature=player_detailpage&v=QgdEwv381Z0#t=3285

Found it.

Aren't we supposed to never see sub 500 again and start to rise again? Many ppl said that before the rise to 520's with almost no volume

But where is your HODL now?

it's hard to rest while hodling

hey there, 400s! it's so nice to see you again! i heard a rumor you were gone for good..... no dice. sorry bulls! we go down now.

Moon time  

Not always and not due to my avatar. Good luck figuring it out.

"Currency of the future" being dumped again 

https://www.youtube.com/watch?v=Es4c-2riidc

just for a lol.

Holy F*CK boys! the wall has been eaten!!!!

Let's take a moment of silence for those holding.  

It's a slow day today relative to the past few days, so just something to think about:

We all know that due to the QEs, the major countries like the US, the EU and Japan are printing massive amount of money. As a result, these governments carry with them huge burden of debts which some think that there is no way of repaying.

The smart people in the government of these countries must be thinking how to solve this problem. Because there is no way to repay this massive debt within the financial system (as we know it), the debt must be repaid outside the system. What is outside the system, you ask?

The debts are denominated by the respective country's currency. Bitcoin or other cryptocurrency exist outside the system. Hypothetically if the government is Satoshi, and eventually, the world uses Bitcoin as the global currency, there would be no problem for the government to repay its debt because by that time, country's currency would be worthless and the government would have become the single largest holder of bitcoin.

This is purely speculation. There is nothing to support the hypothesis.

I belief (new)whales are building position before ETF, regulation,... so that they are ready for the next "pump"

Read this!
http://pastebin.com/cqM71kes

Even if you're a whaletrader(s) that believes bitcoin is doomed and a fad it's obvious  that there are enough bitcoin "cultists"  to warrant at least one more succesful bitcoin pump and dump so all the factors are met in this market to attempt this.

Now, not all these whales are non-bitcoin believers but they will take the oppertunity to pump the price  just in time to "dump" into the buyers that will enter the market when the Winkelvii ETF starts.

Bitcoin is oversold bigtime atm and it will spring up violently.

Perfect storm coming Soon™


additionally:

With bitcoin being such an immature ,new, unregulated market full off noob traders (read early miners) that are inexperienced in financial markets but have lot's off coins the price actions often seem to follow textbook technical analysis patterns so it's really easy to exploit this as an experienced hedge fund manager, forex veteran,...

Combine this with the fact that bitcoin is really in it's venture capitalist fase( huge price swings) before IPO if you would compare it with a "normal" company and compare bitcoin to a share.



And we have the reason why bitcoin is so extreme volatile.

VC investors are used to these swings but the public isn't as the public normally only sees the price of a share after IPO and thus big adoption wich means less volatility.

Where?

I can understand 10 rooms, but who the f needs 9 wives?

That is the consensus only among those who think that the next rally will hit 5000$ or so.  There are other opinions.  Even doubts that the price will ever get to 1000$ again.

Noy yet, sorry.  But I am curious, did he succeed in convincing the Senators that bitcoin will render the Canadian government powerless, and the Canadian dollar worthless?  

Let's get past $420 first.

Hey guise is bitcoinwisdom down for you too or it's just me?  

So when did Huobi get that 10k bid wall at 2300?

Bitcoin ETF Coming NOV 14
https://www.youtube.com/watch?v=gUhqeMkbo6k#t=1419

Solid inverse H&S forming Screenshot image

Patrick Byrne is going to spearhead the nu bitcoin movement!!!

====> OCCUPY WALL STREET ON THE BLOCKCHAIN!!!!!!!!     *must see*

https://www.youtube.com/watch?v=DbCeo-BvrIM&list=UUmZ94fbKKGoBDY_g4hzR-MA

You all worry far too much about governments and laws.

You should try this book

http://www.amazon.com/How-Found-Freedom-Unfree-World/dp/0965603679


PDF for cheapskates:
http://eiiiforum.com/picsfromusers/howifoundfreedom.pdf


Stop worrying about the freedom of other people, just become free yourselves. You cannot change anything, so stop worrying. Stop trying to convince other people your method or theory of government will work for them, just disentangle yourself from the system you dislike and become free.

I'm on board "the crypto casino" already, only not in bitcoin, because bitcoin is old, boring and fragile to me. I'm now into newer cryptos, that have more attractive attributes and that are currently at the beginning stage, not the end stage.

Key assumption: Bitcoin will be around in the long term

+1

I have seen "drugs" ruin the lives of several young guys and their families.  "Drugs" meaning, to be explicit, those "friends" who push people into drug addiction, and the drug dealers who then exploit their addiction and push them into crime to support it.

I am all for legalizing pot and decriminalizing drug use.  But still I hope that Shrem, Ulbricht, Benthall, and all otehr people in the drug traffic "industry" will spend a good part of their lives in jail.

Yeah.. maybe the wife threw Adam's computer down the stairs, discontinued the internet connection, and banned Adam from participating in bitcoin communications?      

For any of you guys and gals missed this: http://letstalkbitcoin.com/blog/post/the-bitcoin-game-3-joseph-vaughn-perling
It's a great interview addressing several things on BTC. Nice way drinking your morning coffee and get a bit more recent information

Need more fiat before we blast through the roof 

We have 13.5 million coins right now.

Yet Bitstamp had one of the lowest prices amongst the big public exchanges during the pump. How should we interpret this?


Everywhere and nowhere, as usual.

you bitches ready for this?

set a course, for the moon.

However, because of investments in mining equipment and the fact that the firm is holding a significant portion of its mined bitcoin, the company posted an operating loss of $261,000.

Despite the figures, the company is downplaying the effect of short-term price fluctuations on its business and still maintains its performance is "robust".

Unlike most bitcoin companies, Digital CC Limited is a public company, trading on the Australian Securities Exchange (ASX) as 'digitalBTC'. This makes it is the only major mining operation with an obligation to provide such information, giving outsiders a rare glimpse into the inner working of a bitcoin mining company.

rally wow 

This might be something significant. I hope it's not.  

I had a look at this "wallet" (set of apparently connected addresses) that is claimed to be
the input wallet of BitPay:
http://www.walletexplorer.com/wallet/BitPay.com

I looked the pages for 2014-11-28, Black Friday, spanning from 07:52 to 20:42 UTC (01:52 to 14:42 in central US).  I should have checked another 8-10 hours after that, but the latter hour is the limit of the database, it seems.

In that time interval, the wallet started with 3495 BTC and ended with 1340 BTC.  Along the way there were maybe 2300 small inputs (assumed to be customer payments), some 150-200 outputs adding to 997 BTC, and one lump output of 2000 BTC.  Thus the inputs in that interval should add to 1340 - 3495 + 997 + 2000 = ~842 BTC.  That is about 315'000 USD.

Note that there may be other addresses belonging to BitPay that the site does not recognize as such.  

Tomorrow I may have a look at last year's Black Friday, and at other random days, for comparison.

btw: 0.25BTC bot going crazy on Bitfinex, never noticed before: every 7 seconds 0.25 btc are bought.

MtGOX had such a robot too (not to be confused with the more famous Willy); it bought 0.1 BTC every 20-30 seconds, IIRC.  It was turned on during certain periods last December and January.  And I recall spotting another such robot at OKCoin.  They may have accounted for 10% of the volume on some days.

Stolfi, noone can stop the pump bots. Given the lack of laws in this area, it is inevitable that Bitcoin will be manipulated to new highs, even if it doesn't get there legitimately.

its more like the mom and dad are having sex phase

[...] So perhaps they will not even tell us how many winning bidders there were, and whether all lots were sold.

I decided to buy a pretty decent chunk of coins (approximately 26 BTC).
Therefore, my average price per BTC in my own BTC holdings came down from approximately $558 to $537.  

I was just being ridiculed for saying the same. 
Expect I'm already convinced that we are going lower.
Thanks for confirming my thought's.
Let's sell some extra coins.

As of September 10, there were only ~650'000 addresses in the blockchain with at least 0.1 BTC (~50 USD).  Assming that a bitcoin user must have at least one address with 0.1 BTC in it, that its an upper bound to the number of bitcoiners.

There may be bitcoiners who have their coins scattered into many addresses, all with less than 0.1 BTC.  Or bitcoiners who happened to be out of bitcoins on that date, but had more bitcoins at other times.  On the other hand, there must be many bitcoiners who own several addresses with more than 0.1 BTC.  Threfore, "650'000 bitcoiners" is more likely to be too high than too low.

One word "hopium".

A little off topic, but I'll do it anyway:

I made this image and sent to Trezors home screen competition. I don't expect to win (a Trezor), but I hope it makes it to their standard gallery 

I think bitcoin be  more like.....



We are very much in the hangover stage.

[...] a piece I wrote in September:
===========================================

Of course miners selling coins affects the price.  If there's insufficient demand to absorb the new coin supply, then the price will fall until demand picks up.  This is bitcoin's distribution system doing what it's designed to do: distribute coins to those who value them.   

Bitcoin is a strategizing women that will use your lust to accomplish her goals.  It's your desire for wealth that precipitates the boom, and it's your hope and envy that fuels the accompanying media frenzy, propelling us another rung up the market-cap ladder.  And she knows this.  She also knows that in your despair you will sell your coins to those she hasn't dated yet, as though you're burning love notes from a women who broke your heart.       

She has nobler goals than to enrich you.  Although some of you will score and some of you will strike out, to her you were all only useful tools.  We're building a new decentralized economy that, if successful, will reshape the world in unfathomable ways.  She's the foundation of this new economy--sound money where each coin was forged by the greatest physical efforts of man to strangely produce a purely-digital asset…a digital asset that can be transferred in less than a second across the world without the permission of an authority or the assistance of a third party.  She is an evolution in money.   

Indeed the price must grow for the experiment to succeed, but it's more important that the price be the right price to best distribute coins to those who want them.  The issuance of new coins is what keeps downwards-pressure on the price, testing the faith of hodlers: "why are your coins so special if miners are finding new coins everyday?"  It prevents the price from deviating too far from true demand, as ruthless miners will put to rest the ambitions of lustful.  This is necessary.  We're all just playing out our roles.   

How will it end?  I don't know.  Tales of great ambition are fraught with great tragedy.  Only time will tell if she'll seduce her way to the very top.

....or better yet Jorge...why don't you want that Bitcoin succeed? It is pretty awesome network after all give or take...I just realized how much powerfull it is when i read about the fine to Ripple from FinCEN...And i realized there is no better currency in sight, because when someone will create googlecoin, facebookcoin or whateverpieceofshitcoin, it will always be centralized and if there really will be some decentralized competitor, we will all see it in advance, but it is not happening and i doubt it will anytime soon...so are you sceptical just about Bitcoin or about the whole crypto-currency evolution?

4 times in a row! 

I feel like I've made it on bitcointalk.
I have my very own, personal troll.
This must be how the legends feel.

Price is up $1.


Da moon?

Watch this video. No new important tech details. It's all about the mood/way of expression. It's important!

http://www.cnbc.com/id/102692148

Holy Fucking Macaroni!

Pardon my French

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

Bullish!

why aim at 7Bn people when not even half of it have access to teh internet, 20+ years after it became mainstream.
serioulsy there is far more important matter for the rest of the world than our silly digital tokens.

first would be food and water. and no, the blockchain wont help in any way.

Fifty years ago today Gemini IV began it's mission into space. We're just beginning ours. #tb50yrs #geminiiv #edwhite #gemini4 #spacewalk #space #missioncontrol #nasa #spaceflight #justimagine #anniversary #1965 #geminiprogram

I really hope so, I'm not in the mood to slump back to the 220's. Getting sick of being pumped getting all optimistic then people taking small profits & dumping. I'll never understand why people don't buy & hodl, surely if we limit supply by hodling our coins it's a natural occurence that the price will rise. A bit of patience never hurt anybody.
Come on people be sensible, buy & hodl.

I don't think however that the introduction of extra inflation into bitcoin -- say, 1% per year, beyond the block rewards -- would necessarily induce all holders to dump, and the price to crash.

1260000   7   0.78125000   20671875.00000000   164062.50000000   20835937.50000000   0.79365079%   99.21875011%

That is not "cost".  Even if bitcoins lose all their value, no resources or concrete assets will be destroyed.  The world will not become any poorer. Only, a few hundred thousand people the current bitcoin holders

I still believe that bitcoin's price will go to zero in a few years

bah so unrealistic, sharks don't like bacon.

We need to order a case of crickets for this thread. Chirp chirp

It's possible the twins have been off-loading coins since the ATH, to fund their Gemini/ETF ventures and hedge.

Now they are buying back those coins cheaper ...

Then what is your explanation for that rise?

Saying that "the price rose because of supply and demand" is like saying that the weather is hot because the temperature got higher...

People usually dump Bitcoin to buy the latest flavor of the month alt that's being pumped.

Any news/tweets from winning bidders?

Quite a few Americans and Europeans who come here love it enough to stay.

The halving is an an external action, decided by a slightly bemused older gentleman who likes to play with trains.

its really to bad, this thread as fun and very informative when it wasn't being spammed to hell.

[snip] I wouldn't go selling, i think what we will see there is the odd  "bitcoin is more desirable at higher prices" paradox take full effect.

He really does think that he, personally, is the one man standing between Bitcoin and utter chaos and destruction. It would be kinda cute if it wasn't so damned destructive.

Yup and when they dump everyone will come marching in with their doomsday prophecy and how its the end of bitcoin.  Business as usual

BearSwamp is such a cesspit ... probably they are bust from that hack and like Gox trying to keep thing going long enough hoping to trade their way of the crap hole they are in ... or until they get another bitcoin reserve audit from Mike Hearn?

Was a proof of reserves required for the Bitlicense process? If so, how was it done?
We had special audit done by Ernest and Young in Luxembourg. Xapo assisted EY on the bitcoin side. We will have another year-end audit which will be public.

Why has no one posted a dino-chart lately?

Whatever happened to the MagicMexican guy....  I miss dinosaurs with great hats.

*sigh*

Nostalgia ain't what it used to be....

I was honestly surprised that the alleged identification of 'Satoshi' did not cause a significant price drop

Where do you see the euphoria? On the contrary, I see a lot of people sold out their bitcoins and hoping for a correction to buy them back...  I predict a new top above $500 over the weekend.

Do the Chinese banks process wires to exchanges on a Saturday morning? They don't do it in the west.

I'll buy back sometime next year and will have made a tidy little profit for Christmas spending.

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature". 

My transaction was included in the fourth block  My last transaction earlier this week took 3 blocks  

btc is working just like it should be

                                      USD cents   satoshis   BTC
To get in next block                   2.1   4831   0.00004832
To be confirmed in the next hour   2.2   5139   0.00005140
To be confirmed within 24 hours   2.0   4659   0.00004660

Let's see if bulls can do better next time. I made a little money on the failed attempt at $445 so now You will have to buy even more, but you might do it. Just don't pump to over $3,000 or I'll get a margin call. HAHAHAHA.

Scale or die.

Hello all, im new to the bitcoin game and im getting hooked. Atm i trade through virwox would anyone be avle to suggest a better place to trade through and possible links i could go to to learn more about bitcoins and the charts? (some terms that may come up, sites that would have lower fees yet not a scam ect ) if someone could help me with some info that would be greatly appreciated.

Sorry if this is in the wrong thread i will delete it if its not. Thank you and have a great day and merry christmas:)

it's been almost ready for six months. I'll believe it when it happens.

It just occurred to me that @$456, assuming miners are on average selling all their coins, the market has to absorb $1.6 million in sales just to stay at the same price.  You gotta wonder how long bulls can keep that up, considering we're going to run out of room in blocks in the next couple of months at this rate.

>32,000 is coming. why is it we always choose this number btw?

Economic considerations should also be given for developing countries where bandwidth costs are high, as are imported technological goods like hard disks, ram and high end CPUs/mobos. The western world doesn't really understand the problem.

Please elaborate on which time perspective. There is a different scenario for every different time frames.

1 week, 1 month, 1 year, 10 years?
1 week > risky
1 month > less risky
1 year > BUY
10 years > STRONG BUY

I been away too long.

Can we see a triangle showing when the price will likely jump one way or another?

The $430 range is so last year...

the reason u are against pms is because they have real power while bitcoins not so much..

Wall of text in the Wall Observer thread

Seems like the train is getting stronger and stronger...

Choo choo motherfucker!

Sadly I'm not in this train xD

What is "69% full" ?

Try this as a custom uBlock origin filter:


This and generous use of the ignore button almost makes this forum readable

Bitcoin "Classic"! What a stupid name. Logically there's nothing really classic about it. They should have spent a little more time thinking up a proper name at least.

Jorge [...] have you written any interesting papers lately regarding bitcoin? It's a topic that I havent seen a lot of substantial academic research on.

Whether the trend is up or down depends upon your starting point..., no?

So are you saying that we are going down, and I should sell a bit more... ha hahaha... what fucking looney to attempt to judge what someone else should be doing.

Exactly. Problem is i guess most here are not understanding or dismiss [...]

A higher price will likely result in more mining activity, but not more bitcoins being mined.  Miners could sell a smaller portion of their mined coins to meet expenses, allowing them to keep more for themselves.  Basically it's a much less liquid market, one reason why it is so much more volatile.

Nice write up:

https://www.reddit.com/r/btc/comments/41ipkd/some_advice_for_everybody_at_this_point_in_time/
https://www.reddit.com/r/Bitcoin/comments/41ipu0/some_advice_for_everybody_at_this_point_in_time/

(Available at your Reddit of choice)

Unfortunately, I believe bitcoin development has lost touch with large-scale rollout necessities over the past year or so.
[...]
That's why I'm concerned when I'm looking at the features of 0.12. [...] What I see is instead engineering for the sake of engineering.

actually believe the full node should run in the background as a service and you should
I think the user experience of running a node has more to do with why people don't run it than disk space issues.

We're 3 years since that magical year, 2013. Now the magic is gone and is likely never to return. Halving will bump the price but it looks like no new bubbles.

At least 2013 was fun...........  

It's similar to the metals market. Peaked in 2011 and a slow grind down,most likely still haven't seen the bottom 5 years later.

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

By increasing the blocksize there is more transaction with constant transactions fees => total level of transaction fees increases.

Not sure if serious.

BITCOIN: The world's future global value transmission system, secured by 1000 PH/s of mining power and by a developer team who would bankrupt a homemade lemonade stand on the first day.

Ten years ago there were people that thought cash would no longer exist by now, and the same applies to twenty years ago. I don't think cash will disappear that quickly. We had credit and debit cards decades ago, but they haven't completely replaced cash yet. Bitcoin could become more widely used, but I don't think it will ever replace cash.

There's rather a large gulf between what the back room economic egg heads want, and what your average personage on the street will put up with. Debase and inflate by all means, that's something that rarely crosses the average mind, but removing cash is going to make a few people think.

It seems to be well on its way in Scandinavia. I'm not so sure other parts of the world are so keen to succumb to total slavery.

I use various services to hold my coins. I recognize that I'm dependent on what the institutions do ...

CoinBase sent me a nastygram telling me that they were dropping my daily limit due to their data showing that I was selling my bitcoins on localbitcoins.

Classic only has 2 experienced developers maintaining it where Core has 45.

[...]

Logically, supporting Classic doesn't make much sense.

Or never happen....

BTC is holding up ok in this medium term down move (and oscillators are bottoming).

OK miner cowards, if you don't like Bitcoin Classic, how about a good old fashioned crash?  I think you'll find overhead resistance to a pump may be rather more than you are expecting.

everybody is talking about censorship. You mean here on bitcointalk? Cause I never suffered any! Neither saw it

So the Core devs will quit if they have to work with the same code with 2Mb block size instead of 1Mb?

I'm surprised how few people actually understand the letter from a Chinese cultural perspective. Clearly, they give Core a deadline in a face saving way. Superficially, the letter looks like support to Core, while embedded, there's a diktat to include a HF in their roadmap with a deadline of three weeks.

3. In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. Currently we are in discussions to determine the next best steps. We are as a matter of principle against unduly rushed or controversial hard-forks irrespective of the team proposing and we will not run such code on production systems nor mine any block from that hard-fork. We urge everyone to act rationally and hold off on making any decision to run a contentious hard-fork (Classic/XT or any other).

This is where shit gets real. This is extremely strong language, they specify not only the timescale (3 weeks) but also explicitly state the subject matter (with respect to a future hard-fork which includes an increase of the block size). This could not be any clearer. They want a blocksize and they want a concrete commitment from core within 3 weeks of when that is going to happen. The implications here are twofold, that the timescale had better be satisfactory, and that failure to provide a satisfactory timescale carries and unwritten 'or else' clause "We need" is the key phrase here. Very strong language from the east imho.

Bitcoin now has a rather nice flag formation after the rise from 200-500 with little media fanfare. The alt's are waking up and the halving is approaching. The only thing keeping bitcoin back is the blocksize debate which will soon resolve either by a HF with majority of miner support, or with Core acquiescing to the demands of the market and miners (3 weeks!) and fixing a 2mb blocksize HF in the roadmap.

It isn't hard to see a perfect storm for bitcoin during times of further turbulence in the major markets, where negative rates are being introduced in Western economies as central bankers start to lose control. Previously there has been a hunt for return and yield with QE and cheap money post 2008 being used by banks to bid up stock markets and levitate asset prices. ZIRP has turned everyone into a speculator with cash offering negative returns and the markets looking crash prone now bitcoin may start to look mighty attractive as an asset class in the coming months with it's unique monetary properties.

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Who gets the fees?

Who decides which transactions gets on the block?

Basically if you are not happy with bitcoin feel free to fork off into whatever altcoin you deem useful or valuable, you surely can migrate to some blockchain technology 2.0 vaporware.

Nobody is forcing you to use bitcoin, nobody cares about what you want.

You are free.

Wow. The explosion of puss, poison, and vitriol seems to suggest some kind of boil has been lanced.

Crassic has failed, what's next now on the maximally FUD bitcoin agenda I wonder?

Ultimately I agree with your conclusion that Gavin his not coming off as trustworthy

Jimbo never gets involved in politics.

folks? still that block-discussion going on?

isnt it obv meanwhile? classic wont succeed, miners are hesitant to switch.

but core will have to accept a 2MB hardfork in 2017. miners want that.

so case closed. nothing to see here anymore.

Dear City Council:

We, the residents, business owners, employees,  developers and tourists would like some clarification on your proposed plan to upgrade the goat trail that leads into town into an actual road. We understand that you plan on only making it one lane until after the skyscrapers are built but will make it a toll road to keep out the riffraff cluttering the highways.

We know you have plans for a Lightning Train some time in the future, but until then you will focus on the goat trail.  Your proposal for almost doubling the capacity by putting extra saddles on each specially modified goat is something we fully support, but we still would like to know when the trail will be paved.

So if you could clear this up for us, that would be great, because elections are coming up in three weeks.  It would be chaotic and probably harmful if there was a change of government and we don't want that to happen. No way. We totally love you guys.

Sincerely,
Everybody.

[...]
"The Blockchain" can bring so much utility besides money transactions! And that is exactly what it needs to be - and what most of us were fascinated about, land/property registry, ownership titles, escrow in an uncheatable global ledger, so no, not a settlement layer. "IT IS ON THE BLOCKCHAIN" should be a proverb for "as final as set in stone"- in the 10/100k$ area, because the account units can do more than coffee buys [...]

I can not grasp, how experienced - and certainly well meaning, and i am saying this honestly and respectuflly - bitcoiners miss this point, which is: if blockchain can satisfy more than pure value transaction in its p2p concept, it will magnify in value/unit wise, which is all what WE want.

there is a huge incentive

imagine tomorrow you wake up and the news is there are only 100nodes up on the network and altho you dont understand everything your read you get that this is NOT GOOD

what do you do next?

thats right [...]

[...] No node, no vote. That is [already] incentive enough, no matter which implementation you like. [...]

i have a dream! i dream of large corporations/governments competing for blocks with 100,000's of 0.00001BTC fees

“A democracy is two wolves and a lamb voting on what to have for lunch”

http://www.strateman.ninja/roundtable-tech.pdf

Classic is still on the table, should Core not deliver on promises...

Crazy market +20% in two weeks.

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

Always the same scheme. Pump it till 430-450 and sell... Why can´t they simply let it grow?

My donut came through ok. Just sayin'.

While others were debating whether digital currency met the textbook definition of money the blocksize, Silbert saw that bitcoin was a triple threat to established markets, because it could function as a store of value, like gold; as a method of payment for online commerce, like credit cards or PayPal; and as a global transaction network, like Western Union or MoneyGram. There are about $7 trillion worth of gold in the world today. E-commerce is a $1.6 trillion industry. According to the World Bank, a total of $583 billion in remittances flowed to nations around the world in 2014, and an estimated $600 billion in 2015. What if bitcoin were to claim even a small percentage of any of these markets, never mind all three?

"When you have a world that is printing money, the concept of a decentralized, non-government-controlled, non-company-controlled currency that has a finite supply had a certain amount of appeal to me," Silbert said. "I didn't fully appreciate the whole technical aspect [of bitcoin] at first. But economically it just kind of made sense."

"If I'm going to make an investment in a high-risk opportunity like bitcoin, I'm only going to do it if it's going to move the needle for me," Silbert said of his early investment in the digital currency*​.

To familiarize his staff with the digital currency, he was going to give each of them, out of his personal hoard, two bitcoins — one to save and one to spend.

Yet he remains steadfast in the opinion that the industry will come around to embracing the currency. Banks' experiments with private blockchains will prove to be nothing more than "a gateway drug, ultimately, to them using the bitcoin blockchain," he said, "and then also to holding bitcoins, trading bitcoins, speculating in bitcoins."

Within five years, he predicts, bitcoin either "will be a failed experiment, and something else will have taken its place, or it will be eating the world."

So, no answer at all on the mixing? anyone? Just wondering 'cuz you know, blocks are pretty full. [...] anybody know how I can get my hands on some altcoin?

i feel as tho i'm being manipulated from one side to another over and over and over.

Speaking of alts, I'm going to come up with an alt coin called "Blockchain".

That way all of the news reporters that want to downplay Bitcoin and talk about "Blockchain" will be pumping my shitcoin.

The standard media formula has become...if it's bad news, use 'Bitcoin'. If good news, use 'Blockchain'.

I'm gonna be rich bitches.

Can you show me the transactions these other competitive systems are doing?

I actually tried a block explorer with major altcoins, and their blocks are ghost-towns.

Last 5 blocks (tx count):

litecoin
3-1-1-7-9

dash
3-11-7-9-1

monero
2-1-1-1-1

eth
0-2-0-7-0

btc:
702-1420-2196-2384-2764

lets try again

today i will pay 2 cents....

https://blockchain.info/address/15dSfgqNSAaiTPFtR7jEupen8QYudqdGc3


6 blocks = 1hour!

1 HOUR!

eh,lol   dunoo wot u talkin about m8.
Ok i mean...if someone wants alot of btc and market isnt dumpin...lets get them to trade for a coin thats been pumped x12 in 2months, and then dump on them too take at least half the BTC of them...alot of strong handed BTC players have been buyin another coin at its ath..those guys maybe in for a rude awaking.
Also this core/classic/seg/blkstream blah blah might do nothing at all and the BTC halving kicks in...
Finally i firmly believe BTC will have another ATH before halving.

If I were a market maker and want to accumulate more btc before the inevitable halving and 'consensus' price rise, I would definitely:

0. Accumulate on the almost forgotten alt coin market
1. Spread FUD so people sell their btc, btc price drops
2. Pump altcoins. People sell their btc in the chase, btc price drops further (<--- we are here)
3. Dump expense altcoins for cheap bitcoins.
4. Let the bitcoin bubble occur because of 'consensus' and halving
5. People sell cheap altcoins for chasing expensive bitcoins
5. Sell expensive bitcoins for cheap altcoins
6. Spread FUD
7. Rinse, repeat.

What seems bizarre to me is that the HK CRTA comes out and the market shoots up from $375 to $450, a seventy five dollar increase. Then pools start coming out one at a time making it clear there is no consensus, and the market only retraces 60 bucks.

It seems like there should be more than a complete retrace.  28.4 million in leveraged longs on BFX. It seems crazy to say this, especially so close to the halving, but I think there is a real possibility that $300 will get another serious test of support.  There is still too much uncertainty with scaling and governance. 

He said some devs, as in individuals. And it is completely reasonable. There will always be people trying to hold things back in any large enough organization.

I don't see what's wrong with avg blocksize. Should I take specific blocks to illustrate the point? And if so, what would these blocks be? The 0 bytes ones, or the 1000kb ones?

They last updated it in January 2015. Most people said that it usually takes a year from the last update so I figured it would have gone through.

Maybe they shifted focus to Gemini and aren't pushing the political buttons needed to get it through.

Man, what is happening with the currencies. The market is a disaster today!

http://coinmarketcap.com/

If I were a market maker and want to accumulate more btc before the inevitable halving and 'consensus' price rise, I would definitely:

0. Accumulate on the almost forgotten alt coin market
1. Spread FUD so people sell their btc, btc price drops
2. Pump altcoins. People sell their btc in the chase, btc price drops further (<--- we are here)
3. Dump expense altcoins for cheap bitcoins.
4. Let the bitcoin bubble occur because of 'consensus' and halving
5. People sell cheap altcoins for chasing expensive bitcoins
5. Sell expensive bitcoins for cheap altcoins
6. Spread FUD
7. Rinse, repeat.

omg sell now price going to $1    

If I were a market maker and want to accumulate more btc before the inevitable halving and 'consensus' price rise, I would definitely:

0. Accumulate on the almost forgotten alt coin market
1. Spread FUD so people sell their btc, btc price drops
2. Pump altcoins. People sell their btc in the chase, btc price drops further (<--- we are here)
3. Dump expensive altcoins for cheap bitcoins.
4. Let the bitcoin bubble occur because of 'consensus' and halving
5. People sell cheap altcoins for chasing expensive bitcoins
5. Sell expensive bitcoins for cheap altcoins
6. Spread FUD
7. Rinse, repeat.

It usually happens because someone who doesn't understand how change transactions work in bitcoin tries to spend a portion of the funds in a paper or brain wallet.  If you send funds from a paper or brain wallet, you need to make sure to send ALL of it at once to your wallet, then spend a portion from that.

When you spend bitcoins, the amount you spend comes out of chunks you have received (inputs), and usually, there will be at least two outputs - one is the spend, and the other is the change, which is sent back to an address you own.  If you create a transaction that spends from one or more inputs without spending ALL of the funds contained in those inputs, and you don't provide an output to a change address you own, any funds in the inputs that exceeds the spend will become transaction fees paid to the miner that mines the block containing the transaction.

All software and hardware wallets, as far as I know, handle that stuff for you, and yes, Core, at least, will warn you if you try to send with an excessive manual fee.

Accordingly, in the past couple of years, I have created and kept track of my BTC investment portfolio, and surely there is some creative bookkeeping because my particular BTC investment portfolio is spread over a number of exchanges that includes both BTC and dollar balances

Some people are still taking Craig Wright seriously?

I think that these kinds of discussions of market cap and which assets are comparable in terms of utility are good, whether we be talking about theory or throwing numbers around - because in the end, we cannot know for sure how it is going to play out, but throwing out the theories and numbers can help us to view possible areas and to conceptualize what is more possible or not... and as we go along, we will continue to have to tweak our view of bitcoin and it's future based on developments in the space, whether those developments expand or contract bitcoin's actual market share, usage and utility.    $25k to $250k seems like reasonable possibilities in the coming 5-10 years - even if there may be some forces that continue to attempt to manipulate bitcoin down and to break it, possibilities of $25k to $250k seem reasonable(though certainly not inevitable - and that is where we have to account for the various forces that fight bitcoin in various ways that continue to make efforts to keep bitcoin down, and the downward force could also be explained by some attempts at downward speculation, even though downward speculation is not a complete explanation of downward price pressures, either).

Yes, I attempted to make my above highlighted statement to be within what I really believe, and I framed my statement general enough that it is reflective of what I believe at the moment to be within reasonable possibilities.  

Contrary to what you seem to be asserting (or implying) bitebits, I don't see my BTC trading strategy to be contrary to my view that BTC prices have decent probabilities of reaching $25k to $250k within 5-10 years.  Decent probabilities can mean a lot of things including beliefs of anything between a 10% chance and a 90% chance [...]

Somehow to me, bitebits, I get the impression from your above comment that you believe that in order for me to be consistent with my views, I should be buying more and more BTC and even leveraging more in order to buy BTC because the present value of such a view (if I really believe it) would seem to dictate that I invest more financial resources into BTC.  

Really, I don't think so.

[...]  

I hope that makes sense to clear up what seems to be a kind of inconsistency in my position from your point of view.

By the way, in a nut shell, what are you doing in terms of attempting to prepare your BTC holdings in a way that you believe is consistent with your view of BTC's future and in light of your own financial circumstances?

Despite all the regulations and penalties during the Prohibition, alcohol was still easily obtainable. Despite all the dollars spent policing illegal substances, they are still easily obtainable. How do you suppose cryptos can be banned, regulated and policed so that they are sufficiently difficult to obtain as to deter an extortionist? The law and even the state has limits, and your proposal is not going to work nearly good enough.

OMG Huobi $589, the west $530, still a big gab but im delighted 

[...] we have spreads like 6% between btc-e and finex, 11% between finex and huobi, and 17% between huobi and btc-e.

If anything, these spreads show how broken legacy banking is and the difficulties of global mobility of funds between countries and markets, in terms of feasibility and speed.

Bitcoin is simply light years ahead of problematic and slow legacy banking and it shows in how legacy banking is creating arbitrage opportunities with vast spreads in the (much-faster-moving) btc market.

BTC trading in particular seems to be the "vehicle" of exposing legacy banking for its inadequacies...

we are going to 4000 yuans on huobi, fasten your seatbelts guys, this is gonna be crazy 

finex at 557.5 $

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

All aboard!!! Chiuuuuu!!! Chiuuuuuuu!!!

Slave report.  I am currently in Riverside Park overlooking the placid Hudson River on a 1-2 hour break in my 15 hour work day.   I wonder what the price will be next week.  I wonder if I will be working on my day off tomorrow.

Where is the media hype? I don't watch TV so I legitimately don't know and would appreciate examples.

R0ACH ofc it's going to $1200, but when?

Cost of production is doubling in less than a month ... that will set the new floor for bitcoin price to the $840-960 range (at the minimum without difficulty increases) in the medium term.

Cost of production for a monetary good is the economic defence against counterfeiting.  While gold is money, and sometimes attracts a monetary premium substantially above it's cost of production, for someone to produce gold "from nothing" they need to expend an equivalent amount of resources to the cost of production.  Over long terms the price of the monetary good may be attracted to its cost of production but ultimately that is as cheap as you can acquire it for, as long as it is still desirable as a monetary good.  For the same reason the lowest value of fiat paper money is the cost of the paper it is printed on and the ink, i.e. it's cost of production (about a few cents for a $100 bill).

While bitcoin is still valued as a monetary good, that can be transported in minutes across the internet as a final settlement for bearer instruments exchanged on a censorship-resistant network, it still needs to defend against counterfeiting.  The cost of production defends against counterfeiting since this is as cheap as you can produce bitcoin.  If bitcoin becomes more desirable for other reasons of its utility, such as store of value, medium of exchange (network effect increasing), etc., then it may easily attract a monetary good premium on top of the cost of production, but the cost of production has invariably set the floor for the lower bound on bitcoin prices, as long as it has remained a monetary good.

Bitcoin is still monetising.

[...]
Plus bitcoin is my main currency. It is made to gain value over time as opposed to federal reserve notes which are built with the purpose of losing value over time. Losing 1% up front does not keep me up at night.

Up we go again. Isn't this fun?

[...] But from a fundamental standpoint, who has the funds to be able to cough up $2000 just to buy half a coin?  [...]

I just can't suffer through another long bear market. I'm fragile.

http://www.coindesk.com/us-government-to-sell-44000-btc-in-final-silk-road-auction/
44,341 BTC, to be sold, will go on sale from 12:00 UTC to 18:00 UTC on November 5, 2015

1  month before Auction oct 5, 1btc $240
1 day before auction nov 4, 1btc  $504
On auction days...$360 then within days back to $299


Now
3 weeks before auction $440s
3days before auction $780


Australia to auction $11.5 million confiscated bitcoins ... The sale will take place on June 20-21 2016 and involve 24,518 coins
http://www.reuters.com/article/us-bitcoin-auction-australia-idUSKCN0YL091

Dump could take us back to $500s then quick recovery due to the fiat issues getting worse every week.

However do to the markets and my OCD/ADD, I can't focus on anything but the markets. The market attention has even wreaked havoc in the rest of my life.

I don't even trade according to my own predictions. I mostly trade volatility events that occur on a 1 minute scale.

The day is not calm for me. I wanted to buy more btc at $710 but did not have the time because of btc`s rapid bounce back to $750

nice pump and dump the day of or after.
past auctions have pumped prices and then after price got dumped
but that was during a bear market.
This isn't a huge amount of coins ( its like half the size of the ?3? FBI auction ) so it might just lead to good press and not much else.

We should see a new market cap ATH soon, was it around 13b?

We almost got spoiled by the last three weekends in a row, which almost cause an expectation that something is going to happen either this weekend or next week?  Anyone?  I'm placing breaking into $800 as a bit greater odd than breaking below $680.... You see that I have been somewhat tempered by two years of bear dumps.

Just got home but I see that while I was away we hit yet another 2 year high.

In typical fashion "someone" felt the need to frantically dump it down to try to kill the rally. Seems to happen every time we reach a new high.

We saw it when we first broke $550, again at $590, then at $719, yesterday at $777, and today at $789.

Obviously "someone" doesn't want the price of bitcoin to soar and is willing to sacrifice  fair amount of money to try to stop it from happening.

I'm not a conspiracy theorist but I'm not a conspiracy denier either. It's enough to have me considering the validity of the "J.T. Borgan" extinguisher rumors.

Whoever it is, they're spending a pretty penny to fight what appears to be a losing battle.

Only roughly 15.6M coins available in existence. Come Can't get them while they are hot in ice cold storage. You aren't having mine just yet Mr China man.

With almost 14M views, this topic will soon have more views than the number of BTC in circulation

Soo.. is it a bear trap or a bull trap?
Cuz I'll not sell anything but waiting to buy at a price crash. So.. not doing anything, just waiting. I don't really know, it's like an 50/50 of chances.

Discovering Bitcoin 3.5 years ago when I was in my mid-60s was the best thing that happened to me. Sure, I was already doing OK financially but Bitcoin seemed like my last real chance to set myself up comfortably for possible old age. If I drop dead before then, I guess my nieces and nephews lucked out.

I am not trading, but would not be surprised if we get dumped back to the low 600's or even high 500's.
Just to create some healthy Bitcoin panic.

Whatever way we go: fasten your seat belt.

Good morning Bitcoinland.

I see we're continuing to inch slowly upward.



Seems like staying over $600 is a done deal and now we can focus on the immediate goal of getting and staying over $700.

Look bitcoin is not broken, transaction times are decent, fees are decent, the blocks are not full and BTC prices are rising on a pretty decent level...

just wait till lighting makes it so your fee is less then  half a cent and your TX confirms within 5 seconds

So where's the big rise

Winklevoss trust may be the Gox of the next bubble:  Coins check in, but they don't check out.

if i had really big balls i'd be trying to go in balls deep right now...

Can someone check my math here?

[...]

total coins issued until next halving = 2,625,000 btc
$10 billion / 2.625 mill. = $3,809

[...]

The price is back to $666 on finex AGAIN.

What is it about this $666 price? It's been gravitating back to it for weeks and weeks, no matter where the price goes it always comes back to $666. Is it going to carry on like that for months longer?

Trading volume up:

Venezuela LocalBitcoins trading volume graph.

investors are not going to touch these tokens without knowing some specific details about the company. ( i wouldn't...)

This whole bitcoin thing still excites me like the very first day.
Yesterday I gave some bits to a friend and explained her how bitcoin works.
[...]
There's plenty of info today if one wants to understand.
[...]

Are we repeating 2013? [...] I think the chances of this are high. Load up as much as you can.

[...] If you operate a backed currency you're far more efficient using a secure SQL server as the banks will soon find out to their cost once the "we're blockchain friendly" bandwagon gimmickery has worn off.

The whole point of a blockchain is that it's designed to support peer-to-peer, unbacked tokens. [...]

This is basically what's going on, and it doesn't look good for the future panic buys sells

https://www.bitcoinqueue.com/details/2d.html

[...] Personally, I don't really know. I do have some BFX coin tied up with them that I don't really want to cash out [...]

[...] there are some of these goofy and apparent warning signs coming from Bitfinex, I may be somewhat in agreement that it could be prudent for me to lessen my Bitfinex exposure even more.. [...]

We're going to keep hearing "Chiba bans Bitcoin" until they actually do.

doesnt matter imo who wins, after the election price will go steep

[...]
What I do feel though, is that I'd rather have a long position in bitcoin right now than just about any other investment I can think of, because I think it's a safer bet overall.  I think even as a long term store of value, bitcoin will spank things like savings accounts, etc., especially as fiat purchasing value continues to erode over time.

Ehh just about $707 per BTC1

I have to sell some of my btc by the end of the month. Should I sell now or try and see if it goes higher??  

Ok Sherriff... you tell people who and who cannot use the blockchain..

I wouldn't forcefully look for a relation between things that are not related (as many do in this forum). Bitcoin doesn't care about black Fridays and alike, as currently what is mainly behind its move are the speculative pumps and dumps. I don't see much sense trying to relate such events to a particular day, because pumps happen independently from that, and thus, it is nearly impossible to say, there is a next black Friday coming the price will drop (or rise).

Good morning ladies and gentlemen of Bitcoinland.

[...]

At least we Canadians are back in quadruple digits... $1001CAD.

[...]

[...]

I don't convert my sayings into bitcoins. My Bitcoin holdings are my savings, more like a pension fund for my old age. When a buying opportunity occurs, I add as many bitcoins as I can afford without crimping my operating cash.

A target number? I've thought that when (if?) it reaches $10k per coin, I'll spend what I need to buy back all the dollars I've spent on Bitcoins. Currently, that's between 4 and 5 coins.

In recent times, I have been making various attempts to avoid disclosing too many specifics regarding exactly how many coins that I hold, but surely, there is some information out there in which you could get ball park ideas.

Based on this post, and your earlier posts about your average cost per coin, here is my approximate estimate regarding the number of coins that you own.


Approximate amount invested:  4.53 x $750 = $3,400

Based on my foggy memory - estimated average cost per coin:  $150

Approximate current number of coins held:   $3400 / $150 = 22.67  ( 1/one millionth of the total BTC supply)

Only two options: buy and hold.

If only 't'were true... I'd be somewhat tempted to quit my day gig.

[...]

Guess what, $100,000 is not a dream for me.

For two reasons :

[...]

2nd : This tweet and I extremely like BTCC's CEO vision, Bobby Lee (https://twitter.com/bobbyclee/status/801054236117069824)

What is so special (for you) about this tweet just stating today's market capitalization?

Well were not there yet so pls stop this nonsense, if we had a worlwide poll stating: Do u own some bitcoins 85% will be NO

it's gonna be a legitimate historical artefact for the years to come. let's celebrate it.

Fuck, it's HIGH !

btc = 750 euro

800 must be some magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Edit:  Oh... now it looks like the poll has been removed, or is it just me?

[...]
If it's "fairly obvious", show us some evidence at least.

If big blockers are censored, explain how this guy gets a free pass to start new threads daily and bump old ones on a regular basis.

https://bitcointalk.org/index.php?action=profile;u=196289

As confirmed by Holliday, both sides get deleted because they are off-topic (not because of the content).

I do miss the train/rocket pictures. You need to step up your game!

Interesting to see 1K BTC on the ask side to $800 on Bitfinex, Bitstamp, GDAX, itBit, and BTC-E.

Bitcoin going fbull retard

Anyone know why btc-e is lagging so much behind?

I get it. You're trying to be true to Bitcoin and lead instead of follow. That's good.

During the big swings you should be able to adjust your price. Bitcoin has a lot of time that is fairly stable but at times it has its growing pains to adjust to demand. During those times you'll need to adjust with Bitcoin as well.

I sold someone a pair of boots for $300 when the price was about $10/BTC. The boots took over a month to get to the buyer. By that time the price had climbed to over $20. The customer was not happy about it. I gave him half of the upward value back as a gesture of moving forward with Bitcoin and keeping commerce going even when the price moves a lot.

[...]
Personally, I would rather the price rise so high that I can retire with my bitcoins. Instead of the price shooting up quickly and retiring by selling my bitcoins.

You missed an important point: *why* this cycle is able to occur in Bitcoin but not as much in other assets. Bitcoin (generally, cryptocurrency) has a unique quality that no other commodity has: its supply is perfectly inelastic. No matter how much or how little demand there is for bitcoins, they still get produced at the same rate. Every other commodity responds to prolonged, elevated demand with elevated production: higher prices lead to faster production, which suppresses prices. This can’t happen in Bitcoin: higher prices encourage more mining, but more mining doesn’t cause faster production. The utter lack of any suppressing counter-force on the Bitcoin price is what allows it to experience such huge bubbles.

when is the next final ETF decision ?

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

You should be feeling very cautious given the extreme drop-off of volume coupled with a week long holiday from the country that was buying and selling the most BTC for the last 8 years.

th dif went up 15% in <1 nano second, you need to understand that.

this was a huge dif incress, this indeed did significantly slow down the rate at which blocks are produced.

Interesting new toy on bitcoinity - combined order books:
http://data.bitcoinity.org/markets/books/USD

From here:
https://www.reddit.com/r/BitcoinMarkets/comments/5pwooc/combined_order_book_chart/

When price is > 650 I fear it will crash
When price is < 600 I buy buy buy

Very simple. I think btc isn't worth $800 or even $900. I do like seeing moon rocket though. Good fun  

It seems unlikely, among all the other reasons, that the commission is going to want to move forward with a product where the major trading is done on exchanges [in China] that may not be following our AML guidelines.

What is your "strange feeling?"
[...]

that wild theory might explain this.

https://twitter.com/cnLedger/status/830244903032549376

That should be fun to watch. Didn't Marcus create a thread just for that purpose?

I know that a troy ounce is a pretty arbitrary unit on which to base a comparison, but it is the unit most commonly quoted for the price of gold.

great cartoon on r/bitcoin  :

Altcoins gonna suffer for a while during the next leg up above $1200



Liquidate some altcoins now and buy up all the bitcoins on sale.

bitcoin is stil a shitty alt coin, it can go 5k or 300 dolla any time soon.

Place your bets gents.

So it breached $1337 for a fraction of a millisecond? I understand that's a meaningful figure for the computer orientated.

The distinction between money and currency is one that is blurry and arbitrary.

Many tend to think of money as something that is tied to a physical commodity and everything else as currency but that is not really accurate.

The reality is that all money/currency is an arbitrary construct created by man to facilitate trade and savings. Paper currencies have a long track record of failure. This failure is due to the inherent flaws of mankind rather then a fundamental problem with paper money.

We choose to embrace things like fractional reserve lending, defect spending, and unfounded entitlements all of which lead to fiscal instability and undermine the currency system leading to eventual failure.

Gold and Silver are simply attempts to take human weakness out of the picture by tying the concept of money to something that cannot be easily forged or mass produced. This works to a degree but it historically also ultimately fails to restrain us from eventually debasing and destroying the currency system. We see this in Rome and also in our recent past as we were not long ago on a gold standard.

Bitcoin is a new attempt to separate destructive human weakness from a money/currency system. The new mechanism is decentralization and computer algorithm to replace flawed human judgment. If it will succeed long term remains to be seen but we know paper currency consistently and repeatedly fails and we know precious metal currency repeatedly fails so now we will learn how well digital currency works.

How this scaling debate plays out will be important to watch. The 95% requirement for implementation as seen in some of the Bitcoin update proposals is a very wise threshold to use. If Bitcoin ever becomes a simple voting mechanism where 51% of hashing power is able to implement widely accepted changes to the protocol over the objections of the other 49% then human error has returned to the forefront. Bitcoin would then become the same system we already have.  A complex fiat voting system.

Of course, there is no "must" when it comes to this kind of a thing, and even in the "first world" there is a considerable amount of variance in income and in how much someone might have available to invest.

if you are feeling fairly bullish about bitcoin, then holding 10% of your quasi-liquid investments in bitcoin could be a good thing.. and maybe for some people that could be up to 10 bitcoins, but they might not get rich in the shorter term with 10 bitcoins, so maybe 100 would be a better target.. even though 100 might be too difficult to achieve for some people, especially if they are just entering into BTC and 10 might be more realistic.

It doesn't matter how much does it worth today. What does matter is what % of existing bitcoins does it represent.

Definitely makes sense!

They [Bitfinex] say they have "other outbound channels available". However I don't know WTF "other channels" means.

At this time, there is not really any evidence of bitfinex solvency issues - beyond a bunch of nearly pure speculation.

Yes, we can agree that there were major issues in August, and yes we can agree that Bitfinex has not shared a lot of specifics and yes we can speculate that there may have been some insider job aspects to the august "hack".  

We also know that bitfinex employed a lot of very creative and innovative recovery tools, and seem to have a pretty decent recovery... Yeah, sure some of that "recovery" is likely to be smoke and mirrors, but that does not even come close to rising to the level that insolvency should be considered as some kind of central issue in this current situation that seems plausibly connected with bank relations issues and largely not made up by bitfinex.

So why read malevolence into what could more easily described as incompetence?  especially if you have little to no evidence to back up your less likely scenarios?

Well played. I want to buy an nice car from my profit of the last couple months. Ford mustang or a mercedes. Still not figured that out yet. Its good to take profit some times.

Why?  What fundamentals have improved recently?

Hi, this is Chris from Bitfinex. I'm really sorry about these delays and the confusion. I have just spoken to the management and this is what I have learned. cc /u/nomadismydj

TL;DR Bitfinex were led to believe by the bank that outgoing wires were possible using CHF and HKD. In fact the vast majority of these wires were rejected over the course of the last week. The team are now arranging a final resolution with the bank to gain custody of the funds and will make announcement in a few hours.

Longer version: Most of the wires that were attempted in CHF and HKD were rejected since last Friday. The bank led iFinex to believe that the wires were possible but the day after the first ones were processed management were asked to provide more documentation, for example a letter from the iFinex client that they can accept CHF. Management then had to resubmit the wire after the bank holiday weekend and was then told that the standard documentation provided wasn't enough.

The whole process was frustrating and lacked clear communication. iFinex are now making arrangements to gain custody of all the funds and have them sent to their attorneys so that they can finally be restored to the customer with minimal delay. New banking partnerships are also being worked on at the same time.

Goes without saying that cryptocurrency withdrawals and deposits are unaffected. Trading is also going well as some people report making killing on the lending rates.

A formal statement will follow in a few hours. Someone from the team will be online to take questions on Whalepool Teamspeak later today.

Of course it didnt nose dived. People need to buy btc to get their fiat out of Bitfinex. So BTC's price will go up because at of Bitfinex. Question is when where they are going to dump their BTC that they didnt want to buy in the first place.

Almost 120$ difference between the price at finex and the price at btc e right now

Who would ever want to trade [your] Bitcoins for dollars?

[...] There was no market capitulation, scaling wasnt really resolved, chinese are still paralyzed and bitfinex is close to insolvency.

Bitcoin while performing quite well in all those year is not exempt from the laws of physics.

Are you referring to anyone in particular in your small text?

Do you have difficulties accepting that there can be varying approaches, strategies and views about bitcoin?  Or, you just feel good if you can denigrate others who may have differing views from you in one way or another?

[...] I would surmise that even a large majority of the big blockers realize that they are just spouting off bullshit [...]
[...] the smarter big blockers likely don't even believe their own bullshit.[...]
[...] We also know that a large number of these big blockers have been propagating this big blocker nonsense for nearly two years and even a little bit before [...]
[...] Surely through the past couple of years big blocker nonsense has been able to contribute to causing some loss of confidence in bitcoin [...]
[...] big blocker saboteurs [...]
[...] the superiority of the seg wit solution [...]

I just got home but while I was out I noticed we hit $2002CAD according to Google. It's about time.



A small step up for Bitcoin, a giant leap forward toward luxurious comfort in my old age (and something to leave my nieces and nephews).

Go Bitcoin go.

Really? And what is the difference between Paris and Pristina?

Even though I mostly agree... I find it quite funny and ironic that we are here talking about Tulips when that is the same they all were saying about Bitcoin some years ago

[...] Here's some data:

Bitstamp | There are currently 1288.2105 bitcoins offered at or under 2000.0 USD, worth 2346384.55943 USD in total. | Data vintage: 0.0161 seconds
[...]

Remember when gold parity was a thing to look forward to?

Think what you want, but there is absolutely no love for Bitcoin in the mainstream media. Almost every article is negative, or they associate it with a bad event happening. You can easily fact check this. The negative articles outnumber the decent, more accurate ones by at least 100:1.  And every media talking head has something bad to say about Bitcoin. Again, easily fact checked.

[...] For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").
[...]

[...]how many are still hodling a proper stash of coinz?

Ok, I see someone sodld

I have the equivalent of about 50 BTC. Equivalent, because most of my stash is in assorted alts. Some of them are not liquid enough, so I'll have to trade them back to BTC slowly, but I am confident I can get at least 40 if forced to liquidate them all quickly, as in a few days.

[...]I think I'll never be able to have that amount of wealth. Even 5 btc would be heaven for most o us.

[...]If UASF doesn't pass, I really don't see how BTC can possibly move forward[...]

[...]And as of now, it looks like UASF is very unlikely to make it.

Trust me, it will get there. I wager we will see a $5K floor, yes floor, by the end of 2020. Supported by miners and by true long holders. Bitcoin will be seen as the only sensible crypto and the true value play. The price of bitcoin will of course continue to increase into the future, but likely more slowly over time. I guess we shall see. 99.99% people have yet to even buy some. [...]

Why not watch the whole thing:

https://www.youtube.com/watch?v=qHUPPYzzZrI&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=16

The fix is in folks. It looks like a lot of bitcoin users have discovered this great currency called the dollar and are buying it all up. I heard that this dollar thing has a feature where it is made from paper. Bitcoin doesn't have that. Should we upgrade to get more users?

I don't even know what this means exactly. Anyone knowledgeable care to ELI5?

[...] btc1 [...] If they do decide to fork off, no relevant economic nodes will join them. [...]

Whenever people start yelling "cheap coinz!" I know that we're squarely in a bear market. Have heard it all before. They'll keep yelling that all the way down.