All posts made by shmadz in Bitcointalk.org's Wall Observer thread
1.
Post 3885759 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.34h):
crazy movements on btc-e. 830-770-850-817 in 10 minutes
Holy crap! I just looked at the chart, isn't that short candle with the long wicks called a doji or something? If so, what is it supposed to mean?
2.
Post 3900440 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.35h):
Uh oh who can give me a train analogy of what is going on now? Where is that pic of the train on fire.
Brother John F can't make up his mind. One day he is saying we are headed to $3000 and another he is saying we are going to test $400.
sometimes it's hard to reconcile the speed at which this is moving. that brother dude has been watching silver all his life and he just can't see it.
3.
Post 3900453 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.35h):
This looks bearish.... better sell now b4 its too late.
you first.
I didnt know you can sell to your own wall... awsome!
This place is turning into the trollbox
that's awesome, I've always thought the trollbox had a certain appeal
4.
Post 3900485 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.35h):
A another chance for some to sell at the 1000 dollar mark will bring some people who are fine with that... 1000 once passed .. sky's the limit
everyone that wanted to sell already settled for 800ish.
up up up forever, welcome to bitcoin
And those who wanted to buy already bought and are skeptical about paying $980.
perhaps, sitting, waiting, the next few days should be interesting. as it almost always is.
5.
Post 4232131 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.49h):
It [fraud] also requires the deception to be practiced "in order to secure unfair or unlawful gain." This second half is one thing that makes it different from a "hoax."
Of course this merely pushes the question back a square: What is unfair?
Yes, exactly! The Wikipedia definition requires the arbitror to not only conclude that the deception was deliberate, but that the gain that resulted from it was "unfair." So we are back a square, indeed. If a whale places a 3000 BTC ask wall to scare the small fish into selling, does that qualify as "deception"? A larger whale could eat his wall in a single bite. And even if one concludes that this
is deliberate deception, is this also "unfair"? The market participants are playing by the same rules, some of them just happen to hold more capital. Lastly, I'm not even convinced that
profitable manipulation is even possible over the long term.
One reason that I'm excited about bitcoin and the power of the blockchain is that I believe it will allow us to write more exact contracts and motivate de-ambiguity or our legal system.
After reading through that list earlier of all the shady moves that can be pulled by manipulators, isn't it precisely the regulations that make all that shit possible?
The regulating body makes a set of rules, then decides how and when to enforce those rules.
Manipulation is a time-honoured tradition of the legacy financial system, and the regulators seem quite accustomed to looking the other way.
I say gloves off, anything goes, let bitcoin regulate itself.
6.
Post 4264086 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.49h):
Agreed.
Sorry, I haven't caught up yet, but
this post in particular taught me much of what I needed to know in order to become a profitable miner.
OOC should be commended for his tireless work.
7.
Post 4265205 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.49h):
what does organofcoti say about this? i highly doubt its 100% true
Voodah, it's just "luck". They're legit and never cheated.
I sincerely hope both of you guys are right..!
I don't really enjoy this at all, and know, calling this out can generate a certain level of hatred by some.
Still, I think we need more transparency.
Trust me it's only luck I have few Ghs on BTC guild and my income today is 30% more than it is normal on this diff.
+1
Same here.
Ah this brings back memories when we had same problem with deepbit. Anyone knows why deepbit stayed on getwork and is not upgrading it just stayed as it was years ago and still mining?
If you're mining on GPU then I think it's your only choice. I still have a 6950 mining on them
I have one 5970 with bad ram or smthing... that wont crunch scrypt but mining BTC with no problems on deepbit.
I have some 7970's with the same problem I think, can't mine litecoins for shit, but they did just fine on bitcoin for almost 2 years. thanks for the heads up, I'm gonna try deepbit again, or maybe just sha-256 altcoins?
-also-
[conspiracy theory] Do you think that AMD tweaked the ram speed and timings on the new R9 series specifically to better mine scrypt? With the local availability at 0, mining seems to have become the main selling point of this series of graphics card in my area. Surely AMD has analyzed their sales data and realized that a significant portion of their high-end cards were going to mining farms, (many units sold to a single buyer)
they must be aware of the demand and market for mining.[/conspiracy theory]
not to mention that BFL is trying to piggyback off that reputation buy stealing the image of an AMD card and passing it off as an ASIC miner. (600 GH/s sometime "next year" - ok, fool me once, shame on you. fool me twice... *insert stupid president meme here*
*edited to put thoughts in proper sequence, it will take time to recover from new year's celebration it seems 
8.
Post 4293255 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
I would like if someone could explain this to me. How someone who is mining BTC can be a bull? I mean miners sell at some point for whatever reason don't they?
As a miner, I will try to answer your question, but first, the preamble:
sure, I'm a miner, and I have a small portion of my mined funds that I play around with on the exchange. I also have mined well over 1000 bitcoins yet I now have less than 50 left to show for it.
I still think I classify as a bull, even though I may have thrown away a fortune. If I didn't have the foresight or the belief that bitcoin would succeed then I never would have upgraded my hardware and never come close to 1000 bitcoin, (though I still might have reached 50)
I think there is great potential for the bitcoin protocol, but I have very little spare fiat to invest, so I very slowly mined bitcoin and then bought additional mining capacity as time went on. I have made some mistakes and some incredibly profitable purchases along the way.
My thinking was always that I felt it was more important to *know* about bitcoin and how it works than to just *have* bitcoin.
I must admit that I don't understand every little detail or nuance of the bitcoin protocol, but I have almost 3 years first-hand experience with how it works, and I think that's worth something.
--------------------------------------------------------------------------
So, in an attempt to answer "How someone who is mining BTC can be a bull?"
A miner is intrinsically linked to the bitcoin system. A miner might simply want to cash out immediately into fiat, or might want to hold. The simple fact is that in both scenarios a higher bitcoin price is the desired outcome. If one felt that the price was going to drop, especially in the face of the exponential increase in difficulty, that person would likely sell their hardware, and would no longer be a miner.
Now that I think about it, I'm not sure how one could even be a miner without being a bull?
9.
Post 4298465 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Jonesing for some Bitcoin excitement. Think I may go drive the wrong way down the interstate at 120mph.
I just got some Bitcoin excitement by going to see Toronto's first BTC ATM. It's also the first Canadian-made BTC ATM, made in Ottawa.
Unfortunately it wasn't running. Apparently it was working a couple of nights ago for the grand unveiling but I had something way better to do that night involving good company and good food. Dude said it should be fully operational within 2 weeks.
It was still a little rough, accepting only $5, $10 and $20 bills and was one-way, accepting fiat for bitcoins but not vice-versa. Dude assured me both matters would be rectified.
Like the Robocoin, it will either scan a QR code or print out a newly created paper wallet, but unlike the Robocoin there is no palm scan involved. I wonder how long that will last.
Oddly, dude said the exchange rate is based on Bitstamp, not Virtex. He also said that at the moment the ATM has to be manually loaded with coins until they establish a relationship with an exchange.
Current fees are 5% but dude said they would be reduced as more ATMs are added and as overall volume increases. He stressed that fees were intentionally less that Robocoin and implied active competition.
Still, 5% barely covers the cost of getting fiat over to Bitstamp. Maybe they're large-scale miners with a surplus to be converted to fiat to cover expenses/financing.
Whatever, it was an exciting break from watching the charts obsessively.
Edit- Here's a picture
http://i.imgur.com/O9MnxYn.jpgWell done! I'm sitting here in northern Alberta and still no ATM's, and yet the largest Canadian exchange is just 3 hours south.
perhaps virtex sees the ATM's as competition, yes?
10.
Post 4306966 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Come on Fat Controller. Get out of the way!
Lol!
Was I the only one that glanced at that and read "The Fiat Controller" ??
11.
Post 4315182 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Mtgox Buy Wall @ $910 is magnificent! I salute you, wall!
So we have people encouraging each other not to sell and now 'saluting' an obvious manipulative wall which will keep the price higher for a while.
Sell you morons! Fuck you fake wall.
Feel better now?
lol, I do feel much better now. Thank you Doc.
12.
Post 4315232 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Great numbers on the exchange! Hope this keeps up.
Heard something about netflix today. Anyone know any info on that? Also has their been any updates on how we plan on being able to handle of the transactions that will be pouring in?
Max Keiser rumour.
ah, crap, I can't remember. Am I supposed to buy the rumour and sell the news? or was that the other way around??
Dammit, investing is hard
13.
Post 4315497 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
mini-poll:
How long will it take for bitstamp to break through that wall at 830?
I get quite nervous when I see flat tops and bottoms periods on these chart thingys.
14.
Post 4316139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Mofo is a US law firm. I'm not kidding. mofo.com
Works for the t-shirt though!
Nope. Does not work. Needs the whole thing.
much want!
15.
Post 4316540 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Does anyone do "choo choo motherfuckers" t-shirts?
Ha. Would love one but maybe mf is better. Cant really have that in public.
Why not? With mf I would never wear it. Lame.
But I know Americans are a bit sensitive wrt swearings. Doesn't the word shit get bleeped?
motherfuckers was not a 4-letter-word last time I counted.
fuck, the key part of that work is four letters. not something i would were to pick up my 6 year old kid from school here in the usa. it is not illegal but unpolite.
Of course not in that situation, but I want that sad bear one on the back of a black T shirt with a huge golden Bitcoin symbol on the front to wear at parties.
Kind of a big "fuck you" to everyone who told me I was stupid for running my computers at full blast, 24/7. (having mofo or mf on there kind of defeats the purpose)
16.
Post 4316914 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Are you serious? Just deforming a chart to be able to draw a straight line does not mean that this line is useful in any sense.
it is very useful for me! brb going to go troll some other websites!
"Holy fuck that chart makes sense actually, might be the reason china is racing to 5k today"
and you doubted that chart and my ability to troll with it!
http://boards.4chan.org/g/res/39316850 lulz, that is epic. I'd love to reply with the "sad bear that missed the train" pic there but I don't know how to 4chan...
17.
Post 4317086 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
mini-poll:
How long will it take for bitstamp to break through that wall at 830?
I get quite nervous when I see flat tops and bottoms periods on these chart thingys.
Having so much fun, didn't even notice that 830 is long gone now. (looks like it lasted about 8 hours)
18.
Post 4317377 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Bitcoin Bulls -> "Price will go up to $10,000 and beyond without making serious corrections downward on its way there."
Bitcoin Bears -> "Price is currently a bit too high and is due for a major correction. We will eventually get to $10,000 but we aren't going there soon."
Bitcoin Bears are le sad
sorry you missed the train
19.
Post 4317460 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
Bitcoin Bulls -> "Price will go up to $10,000 and beyond without making serious corrections downward on its way there."
Bitcoin Bears -> "Price is currently a bit too high and is due for a major correction. We will eventually get to $10,000 but we aren't going there soon."
Bitcoin Bears are le sad
sorry you missed the train
Not so fast. Looks like major resistance up ahead after we hit a 24 hour high on Mtgox.
Yeah, I see, looks like all except china did a little face-plant there...
I deserve it. Arrogance and avarice and all that.
*edit* actually, that looked a lot like a cash out on multiple exchanges by the same entity at the same time (something I expect bitpay would do when they need to clear a transaction)
did someone just buy a lambo?
20.
Post 4317630 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
here is a fun chart. i forgot where i got it.
this is the now infamous "super-exponential" chart ... it has closer correlation with current price data 0.945 (than the simple log plot , 0.9) ... posted here
https://bitcointalk.org/index.php?topic=322058.msg4227238#msg4227238if we really are going super-exponential (and it is remote possibility if we are looking at step-change adoption event on the S-curve, akin to an algal population bloom) ... then much mind will be blown.
This is the infamous super exponential chart on log-log paper (super-exponential paper).
Super Exponential. Because exponential is pussies.
BEST. CHART. EVAR.
21.
Post 4317677 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
But it seems I can't type. Once more:
Super Exponential. Because exponential is for pussies.
I like the original better.
22.
Post 4318950 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.50h):
this is the now infamous "super-exponential" chart ... it has closer correlation with current price data 0.945 (than the simple log plot , 0.9) ... posted here
https://bitcointalk.org/index.php?topic=322058.msg4227238#msg4227238if we really are going super-exponential (and it is remote possibility if we are looking at step-change adoption event on the S-curve, akin to an algal population bloom) ... then
much mind will be blown.
And much 1MB block size will be blown too...
I don't know why but this super-exponential thing is starting to grow on me ... surely it is impossible. It just seems like the market action is more like reverting to trend .... seems like pretty solid gains than any bubbly toppy mania getting ready to plunge back into the abyss (i.e. back to trend)
My heart (and wallet) likes the super-exponential fit, but my head still goes with the straight-line on a log-chart. Perhaps it will bounce around between $800 and $1200 for a few more months. June/July seems to be "right" time for $1000 as a norm. It still leaves $2000 due in Oct/Nov this year.
someone else posted this chart -
https://www.tradingview.com/e/eBL7nAJN/ it's a straight-line on a log chart and I like it very much.
It's very cool, if you zoom out and scroll left you can see the exact same angle of move when compared to the beginning of the run up to the April high. If you scroll back further you can see the mini-run to 15 that kick-started this whole thing. Unfortunately it does not seem to go far enough back to see the run up to 32, but I suspect it looks quite similar.
The thing I find most interesting is that after each run was a longish period of consolidation.
I would wish for nothing more than a 2 month period where we could stay in a range of 1000 plus or minus 200.
Beware that I also think that the longer the consolidation period, the more violent the breakout, but then again, I'm just some joker on the internet and nothing I say means anything.
I'm turning off my alarms and looking forward to a nice, long, sleep. good night now.
23.
Post 4325472 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
I will buy a lambo when I can get one for < 5 btc.
edit: forget that, I'd actually like something that doesn't run on fossil fuels. Are there any green super cars?
McLaren P1 plug-in hybrid.
http://cars.mclaren.com/p1.htmlSorry to be a killjoy but for the time being fuck the Lambos!
Please everyone prepare a small amount of your stash (doesn't have to be anything more than one twentieth perhaps?) in a wallet that is as easy for you to use and as portable as possible.
Then buy small stuff! A hamburger, a Zynga APP, a sex toy... doesn't matter what just do it!
If you want the growth to continue then merchants have got to report sales or it won't work in the long term.
Boring I know, but for most the Lambos will come a bit later!
I disagree with that bolded statement. Perhaps if you are talking about the growth in profits for the payment processors, then you would be correct.
bitcoin is much more that just a payment processing platform.
please listen to this, I found it brought me back down to earth a bit and made me reconsider/remember why I'm really in this game. especially the second half where that Andreas guy is talking about his different experiences at various conferences.
http://letstalkbitcoin.com/e72-powerful-perspectives/
24.
Post 4325629 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Sorry to be a killjoy but for the time being fuck the Lambos!
Please everyone prepare a small amount of your stash (doesn't have to be anything more than one twentieth perhaps?) in a wallet that is as easy for you to use and as portable as possible.
Then buy small stuff! A hamburger, a Zynga APP, a sex toy... doesn't matter what just do it!
If you want the growth to continue then merchants have got to report sales or it won't work in the long term.
Boring I know, but for most the Lambos will come a bit later!
I disagree with that bolded statement. Perhaps if you are talking about the growth in profits for the payment processors, then you would be correct.
bitcoin is much more that just a payment processing platform.
please listen to this, I found it brought me back down to earth a bit and made me reconsider/remember why I'm really in this game. especially the second half where that Andreas guy is talking about his different experiences at various conferences.
http://letstalkbitcoin.com/e72-powerful-perspectives/Sorry but the link is not working for me neither can I access it via Google. Don't know what's wrong. Could you summarise?
I may be presuming things, but is it a discussion about Bitcoin the payments system and other uses of the Bitcoin protocol which do not revolve around Bitcoin necessarily being used as a currency? I really do believe there are myriad potential applications for Bitcoin but that may turn out to be a type of weakness in the long-term. If problems arise with one application this may have a knock on effect in others. The fact is right now there is a lot of media coverage of Bitcoin the currency which can be used to purchase anything from a hamburger to a house. But if all this hype turns out to have no substance that will have a negative impact.
[/quote]
apologies, my link had some stupid tracking stuff on the back end. I think it should be fixed now.
25.
Post 4325723 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
i think many guys here are really calm holding bulls because they bought under 10 USD...so it is little bit more easy to hodl i think...
It's irrelevant at what price you bought for deciding whether or not to hold an investment.
It depends on the person. I have more money than I have ever had in my life invested in Bitcoin. Had I earned that money through a regular job, there is no way I would consider putting it all into Bitcoin. But since it came so easy, it wouldn't hurt so much if I lost it all.
Probably how I would feel too. It's not rational however
It's not rational at all, but I feel the same way. I've been trying to ask myself if I had all my bitcoin-value in FIAT... would I buy as many bitcoins as I own now? Answer is usually: no, not even close, I wouldn't.
Then why am I not selling. Well, I actually am, but I can't bring myself to sell even close to the required amount.
Selling precious coins when you're a bull is extremely hard. Harder than "not buying" even though you're bullish, I guess.
Agreed, I think that once you have coins, and have given them away for fiat in return, and then you realize why you had those coins in the first place.... I guess it just strengthens your resolve to hodl firmly to the few coins you have left.
(*relatively few, they may still be a significant amount, but in relation to what you once had, they are few*)
26.
Post 4325758 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Can someone please pull the reigns on this runaway bitcoin donkey?
We need to develop some brakes for this bitcoin train, lol.
27.
Post 4326360 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Can someone please pull the reigns on this runaway bitcoin donkey?
We need to develop some brakes for this bitcoin train, lol.
We need a rocket-powered Bitcoin donkey meme! Please will someone get on the case?!!
You mean a donkey like in poker? You think it's a bulltrap?
http://www.directoryonlinepoker.com/poker-dictionary/#DonkeyDon't think so, today is going to be a good day! Choo Choo
This is the beautiful irony of the rocket-donkey!
28.
Post 4326536 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
wtf is this? are we rabid dogs?
i just made as much as i made in the previous 9-day period in the last hour 
not efficient in the slightest, guys. prepare for some serious profit-taking at the end of this ride
sometimes i believe the whole bit about speculators enhancing liquidity and such but other times i think it's a load of shit and all of this volatility is greed and fear manifested. good job newbs
Arepo it appears to me you are losing your cool fast as you did not believe we were essentially past the China bubble.
Please tell me at what point you will accept that this thing is going to be much bigger much quicker than you thought it would be?
not sure what you mean. the bolded statement should have made it clear that i was in proper position for this -- it in no way took me by surprise. i'm quite pleased with the profits, actually
however, we are far above the trendline now and we're going to pay for it later.
and boom! there she goes! big spike down, was 890 stamp the short-medium term top?
29.
Post 4327137 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
wtf is this? are we rabid dogs?
i just made as much as i made in the previous 9-day period in the last hour not efficient in the slightest, guys. prepare for some serious profit-taking at the end of this ride
sometimes i believe the whole bit about speculators enhancing liquidity and such but other times i think it's a load of shit and all of this volatility is greed and fear manifested. good job newbs
Arepo it appears to me you are losing your cool fast as you did not believe we were essentially past the China bubble.
Please tell me at what point you will accept that this thing is going to be much bigger much quicker than you thought it would be?
not sure what you mean. the bolded statement should have made it clear that i was in proper position for this -- it in no way took me by surprise. i'm quite pleased with the profits, actually
however, we are far above the trendline now and we're going to pay for it later.
and boom! there she goes! big spike down, was 890 stamp the short-medium term top?
no
lol
perhaps not quite, but that spike said to me that 890 was a point of contention. on the way up, it was resistance, hopefully on the way down it provides support.
30.
Post 4327744 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
That stamp wall at 900 just got pulled right? not eaten? please tell me it wasn't eaten. We need those coins to try to slow this train.
*never mind, looks like it's back... just below 900, for now....
31.
Post 4328012 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
goooooood morning bitcoin!
adam's here! buy bUY BUY
Excellent, good morning Adam! We've had a rather exciting early morning, time for a little sunday afternoon nap (even though it's still morning in my time-zone, whatever, bitcoin don't care, and neither do I
)
Please someone replace the brake-pads on this donkey rocket already. I don't want to wake up and see 1200 again. At least not yet.
32.
Post 4335170 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Well, this has been quite exciting...
let's say, hypothetically speaking
If you had an upper tranche that has been getting nibbled at all weekend, at what price do you start to back-fill your lower tranche?
750 too high? too low?
much confuse
33.
Post 4335356 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Well, this has been quite exciting...
let's say, hypothetically speaking
If you had an upper tranche that has been getting nibbled at all weekend, at what price do you start to back-fill your lower tranche?
750 too high? too low?
much confuse
the answer is HODL!
If I'd always been hodling, I'd never have been able to maintain a decent mining income, though as my mining proceeds continue to dwindle, I do feel the lure of trying to grind out a few extra coins off of the volatility. I realize and understand the risk, but I will not likely be getting any new hardware for at least a couple months, and I get uncomfortable when mining is producing less than a certain amount per week...
34.
Post 4335364 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
We are about to enter the painful 2-year downtrend. See you at $10.
I wish.
35.
Post 4336418 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.51h):
Maybe i should get a new one?
Definitely! next one should be pink.
His and hers lambo's, seems only fitting.
Seriously though, personally, I'd love to cruise around doing service calls in a Ferrari, but considering that our roads are ice for 8 months out of the year...
I may need to "settle" for a Benz.
36.
Post 4379463 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.53h):
Ok
Fact n. 1: venture capitalists, funds and Wall Street are getting heavily into the game;
Fact n. 2: Indian exchange is reopening;
Fact n. 3: all these news (good and bad) is taking cryptos into the mainstream;
Fact n. 4: ATM are getting place in several cities;Fact n. 5: banks bailout is about to happen
And so on.....these are some of elements to think about when buyin or sellin.......
And oh yeah I almost forgot....HOOOOOODDDDLLLLLLLL!!!!
Forget ATM's, just go to the bitcoin store near you: http://www.calgaryherald.com/Bitcoin+business+opens+Calgary/9234195/story.html
I look forward to seeing what kind of ID I need to provide, if any. From the looks of things these guys have just been doing peer to peer transactions up until this point. Very interesting to see this unfold...
37.
Post 4402277 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.53h):
up or down? what the hell is this on stamp? flatline-----------
38.
Post 4402349 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.53h):
These markets are supremely boring right now.
They will get very fucking exciting if Ghash.io gets another 8% hashing power. It is currently sitting on 42% and climbing fast.
who runs that pool?
I moved back to btcguild because it was the first pool I ever mined at and because the ownership and operations are transparent, mostly ((full disclosure, also because when the difficulty is rising quickly, variance becomes a killer)
39.
Post 4440613 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.54h):
Is this the beginning of the regularly scheduled weekend rally?
Or just another bull-trap?
40.
Post 4440923 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.54h):
fuck the moon, 1BTC buys you a ticket to mars!
75 Canadians are going to mars
http://www.theprovince.com/technology/Mars+selects+Canadians+second+round+mission/9371937/story.htmlAdam, are you one of them?
41.
Post 4518635 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.55h):
i panic sold once and i felt so dumb that i've adopted the strict HODL policy and it's been working out for me so far
you guys should try it out too
I've moved to a pure SODL strategy, since we're clearly heading to zero.
Why are you still here when you think we are going to zero?
Just as the Chinese government has recently warned citizens of the dangers of bitcoin, I am warning citizens of bitcointalk of the dangers of bitcoins, to help as many people as possible. Only Satoshi and maybe 2 or 3 other people will make any money from bitcoin. Everyone else will lose money, and probably destroy their life, as the Chinese government has explained.
Still just trying to catch up, but I just have to blurt out, this was epic!
Well done Proudhon.
http://www.youtube.com/watch?v=A7TuFy0fcuw
42.
Post 4518970 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.55h):
Actually bitcoin miners are fucked.
99% of the miners (paid in BTC) won't reach ROI ever !They hoard the coins and wait for a price increase, otherwise they all lose money.
If the mining business collapses and 5000 coins are sold daily, there will be blood (candles)
At the moment, only a few can win. Most can't cash out or they will lose money (market collapse). That's one of the main reason for the steady uptrend. It's not market adoption or increased utility. Transactions didn't increase very much the last 3 years. The price did with only a few percentage of bitcoins traded.
lol, just lol
*edit* I'm finally in the 1%!!! woohoo!
43.
Post 4519450 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.55h):
lol news out of china, going north.
And you're not going to post it?
Breaking news, straight out of China. the btc-e trollbox has now been fully amalgamated with the Wall Observer of the bitcointalk speculation sub-forum fame.
full story at 11
*gah* if only I'd have listened to the red text and checked the previous post... DAMN YOU RED TEXT!
44.
Post 4519669 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.55h):
I sold 25% of my coins today to get my initial investment back. Why do I not feel good? >.<
I sold over 300 coins for less than 10 dollars each, and I feel fine with it, now.
I went through that whole phase of regret, but now I think the most important part is how much you understand about what bitcoin means, not how much bitcoin you hold.
I let go of a fortune, and I suspect I will let many more slip through my fingers before I'm done; but my thoughts, and the thoughts of others, are freely traded, with nothing expected in return.
45.
Post 4556175 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
The only thing that worries me is the possibility of a straight shot to the moon.
It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.
I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...
46.
Post 4556230 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
Here is an obscenely bullish desktop wallpaper (for usage as pr0n substitute), concentrating at this multiple times a day for 2 minutes each time will release endorphins and convert every bear into a bull after long enough exposure. I have made it 1024*768 for old laptops, I can make higher resolutions too.
this is cool, but can you make a negative of that? I prefer a dark background. Thanks.
47.
Post 4556457 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
Thank you, but I can not seem to save the image as anything other than .xcf and I can't seem to make windows accept that as a background, any other options?
48.
Post 4556588 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
The only thing that worries me is the possibility of a straight shot to the moon.
It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.
I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...
I don't understand this mentality. A jump to any sort of high level of price is going to take days and weeks and months. Why not ride it up when it's going up and down when it's going down? There's always time to jump back in.
If you don't have the time or desire to pay close attention to the markets, then buy and hodl can be a decent strategy. I don't know, it just makes me nervous going to sleep with a trade open.
I'll try to explain.
I'm in a bit of an awkward position. I live in Canada. I'm a miner. The only reliable withdrawl method I've found is cavirtex. They charge me 1.5% per trade, so if I try to trade too close to the edge, I will get burned.
However, the fiat withdrawls are fast (1 or 2 days) and directly into my bank account; the withdrawls also incur only a flat 6 dollar fee. So, I guess I'm trading as more of a hedge than an opportunity.
A miners life for me
49.
Post 4556677 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
Thank you, but I can not seem to save the image as anything other than .xcf and I can't seem to make windows accept that as a background, any other options?
use "Export" rather than "Save" to save in a format other than .xcf
Thank you. It worked
-- hold on, wait a sec, are you actually the guy that wrote the software?!!!?!
this community continues to amaze. I feel privileged to even be alive during these times!
*edit* never mind, I confused JorgeStolfi with Jernej Simoncic who was listed as the publisher of the program I installed.
also thanks to notme for helping as well.
50.
Post 4556928 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
That's the point I'm trying to make. Overstock.com policy is 30 days. If BTC price goes down in 30 days, there are going to be people who will refund and rebuy. Will that be fraud or policy?
Good point, the solution store credit or refund in XBT after you pay a restocking fee.
Ok so my first point wasn't too good as I realized BTC received will be proportional to price. My bad.
What about returns though? Price locked in when you they receive it and process it. But you don't know when that is unless it's the tracking delivery time. I'll have to look into their return policy to see if there's any problems with it.
To my knowledge, all returns have been done in BTC. Rather outstanding I must say.
What this tells me is that either they are serious about trying to keep new customers, or they are keeping a portion of their bicoin sales internal (or at least on account at coinbase)
I get the feeling that the BTC refunds are just a marketing ploy to try to hook new customers. I think the situation would change if you see bitcoin going up by $50 per day...
51.
Post 4557538 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
The only thing that worries me is the possibility of a straight shot to the moon.
It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.
I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...
I don't understand this mentality. A jump to any sort of high level of price is going to take days and weeks and months. Why not ride it up when it's going up and down when it's going down? There's always time to jump back in.
If you don't have the time or desire to pay close attention to the markets, then buy and hodl can be a decent strategy. I don't know, it just makes me nervous going to sleep with a trade open.
I'll try to explain.
I'm in a bit of an awkward position. I live in Canada. I'm a miner. The only reliable withdrawl method I've found is cavirtex. They charge me 1.5% per trade, so if I try to trade too close to the edge, I will get burned.
However, the fiat withdrawls are fast (1 or 2 days) and directly into my bank account; the withdrawls also incur only a flat 6 dollar fee. So, I guess I'm trading as more of a hedge than an opportunity.
A miners life for me
Why don't you trade elsewhere and only send coins to Virtex when you want to exit that position permanently? I mainly trade on BTC-E, paying .2% commission. 1.5% is crazy!
cuz you're fucked if you don't get the trade right.
i do the same thing, i eat the 1.5% fee because if i get knocked out, at least i can withdraw with ease and comfort
i guess you can wait until the spread between btc-e and virtex is tight and use BTC to transfer the funds.... is it that headache worth 1.3% , not to me.
Well said. Also, the high fees give virtex a substantial incentive to pull no shenanigans. Top quality exchange, though a bit small. That btc-e place always gives me the heeby-jeebies when my position grows too large.
52.
Post 4558105 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
Needs some time for confirmation.
12 hour:
4 hour:
as long as stamp follows, that should be all the confirmation we need... I hope we're all good.
53.
Post 4559230 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.56h):
not enough bears sacrificing.. whats the dealio.. we out of coins to sell already........bah gox and stamp aren't even playing with Huobi atm
I'm not necessarily expecting a
steep drop from here. If we bounce off of prior support and back down, then a slow slide may be cooking.
I wish and hope that a slow slide is ahead, but I fear that the sharp climb approaches.
Place your bets according to your
beliefs heart* and you should be fine. There is nothing worse than betting against your intuition and losing.
As you feel, so you should think, so you should act.
*after re-reading, I felt like that comment about beliefs should be stricken from the record. I'm honestly astonished that I even used that word, though it might have been subconscious at the time.
Question your "beliefs" - follow your heart.
54.
Post 4633135 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
Nothing, that channel of arbitrage works afaik. SEPA (I hear up to 5-6 weeks) and JPY (I hear up to 1-2 weeks) have some delays as well though. SWIFT on the other hand will never go through, as the queue dates back more than half a year and it's growing.
Im in Canada, does this mean I am never getting my 2.5k out of gox
I'm in Canada also, I briefly looked at Gox, but I could not see any reliable way to get fiat in or out. (as a miner, getting fiat out is a bit of a concern)
luckily cavirtex opened soon after and now I can get fiat out in a couple days instead of a couple months...
55.
Post 4653981 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
Buy some XRP or DIE
Okay, where can I buy some DIE? I know a certain developer/entrepreneur to whom I would like to provide a gift.
epic
56.
Post 4654218 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
Damn Gox - made two BTC withdrawals to my wallet today.
Just checked:
First one did not arrive, second has 107 confirmations....
Both show in Gox history, only one arrived.
It was emptying my BTC out - no sign of half. Ticket open of course, but just a warning to anyone (who didn't know already)
Be careful out there....?
That sucks. virtex has shitty fees on trades, but really cheap and fast withdrawls. The only problem they go straight to your bank account, so it's not only dirty fiat, it's dirty traceable fiat.
I just came back from the best bitcoin exchange I've ever been in. It's just like local bitcoins, except it's a permanent store, you can just walk in and scan a code and they give you cash. 6.5% commission but better than those ATM's that do the palm scans...
57.
Post 4655283 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
What is going on at gox? Is gox trying to lead a rally by itself? Or is this the usual trapped fiat eruption?
Whatever is going on, it is showing up Gox's USD IOUs to be totally worthless.
Not good PR for them at all!
After GOX pops, how bad do you think it will get as all the exchanges start to capitulate at once? you think we might see 500 again?
58.
Post 4655554 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
Sorry I ain't been obzervin tha wallz, but more news from canada
http://www.sherwoodparknews.com/2014/01/16/cryptocurrency-comes-to-parklooks like a lot of people want to sell you bitcoins right now... I wonder why?
on the other hand, Canada has been pretty accepting to this point, so far...
I do not expect any legislation in Canada regarding bitcoin until after the next election. It might even be the "hot-button topic" of the election...
Can you imagine an election where you actually thought that your vote made a difference?
Man, that would be cool.
59.
Post 4655723 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.57h):
What is going on at gox? Is gox trying to lead a rally by itself? Or is this the usual trapped fiat eruption?
Whatever is going on, it is showing up Gox's USD IOUs to be totally worthless.
Not good PR for them at all!
After GOX pops, how bad do you think it will get as all the exchanges start to capitulate at once? you think we might see 500 again?
May not happen at all. I think it is being priced in already. Price may actually go up with a resolution to this fiasco.
What do you think about an exchange stuck in the middle? virtex is still sitting at 875.... so it looks like a really good deal right now...
I would like the price to go down to meet the bitstamp and btc-e exchanges, but I'm afraid to let my bitcoins go until we hear the news from New York.
60.
Post 4676607 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
<snip>
How many BTC do you own?
2 weeks ago i still owned lower 3 digits, i bought in @ around 150$ .I actually own not a single coin right now. You will call me the biggest fool, but i´m okay with that.
It gives me some real good sleep at night. If it doesn´t get much lower i can live with it, i would go back in with 50% if there is enough momentum that the old ATH is about to be broken.
But i´m, convinced that we´re goin way lower. China and Gox are just lurking in ambush. Also the price is obviously kept up on all of these exchanges, neither can i see a lot of bullish sentiment in the way traders behave.
lower 3 digits is like 100,000 dollras or more... what exchange do you have that money at? if I may ask?
61.
Post 4676689 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
T'is the time for that fekken train!!!!!!!!!!
CCMF time!! LOL this is just excellent.
Canadian Credit and Management Foundation @ gox right now.
no kidding, stupid Canadian Credit and Management Foundation has the Canadian exchange sitting at between 60 to 80 bucks above stamp for much too long.
Someone needs to show these bulls that this train can choo choo down too!
Someone? Anyone? Bueller?
62.
Post 4676804 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
<snip>
How many BTC do you own?
2 weeks ago i still owned lower 3 digits, i bought in @ around 150$ .I actually own not a single coin right now. You will call me the biggest fool, but i´m okay with that.
It gives me some real good sleep at night. If it doesn´t get much lower i can live with it, i would go back in with 50% if there is enough momentum that the old ATH is about to be broken.
But i´m, convinced that we´re goin way lower. China and Gox are just lurking in ambush. Also the price is obviously kept up on all of these exchanges, neither can i see a lot of bullish sentiment in the way traders behave.
lower 3 digits is like 100,000 dollras or more... what exchange do you have that money at? if I may ask?
I cashed out about 50%, the remaining fiat is 75% on Stamp and 25% on bitfinex. Sometimes i keep a bit on Btc-E but no significant amount and only very short term, due to the fact that they could easily go dark over night. I left Gox about 5 months ago btw, and never used it again.
Thank you, I was thinking you might have been holding significant reserves on btc-e, and I would like to be able to trust that place, but I just can't...
Your plan sounds perfectly sane, I was a little worried you might get caught if the market moves against you, but as long as you can get that 50% back in within a few days if it goes the wrong way, you should be just fine.
63.
Post 4676909 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
<snip>
no kidding, stupid Canadian Credit and Management Foundation has the Canadian exchange sitting at between 60 to 80 bucks above stamp for much too long.
Someone needs to show these bulls that this train can choo choo down too!
Someone? Anyone? Bueller?
thats cuz 1 CAD = 0.89USD
if anything coins are one hell of a bargain price on virtex right now
1 CAD = 0.89USD !! ?
holy cow, I really do spend too much time here.. I thought we were still around 1-1...
Oh well. Doesn't matter. Canada doesn't need their own currency (we haven't really had our own currency ever since we stopped borrowing from the Bank of Canada and started borrowing from the private banksters anyways... not to mention we sold all our gold years ago...)
We'll just continue whoring out our natural resources - but from now on, we only accept bitcoin!
CHOO CHOO MOTHERFUCKERS!!!!!
64.
Post 4678289 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
No. Your only job as a speculator is to get rich at everyone else's expense.
The free market is not zero sum. Both parties to a trade must feel that they are better off, otherwise, no trade will occur. I provide liquidity and if I provide it when it is most needed, I profit. I soak up excess liquidity, and if I do it when it is needed, I profit. I serve the market, and market participants like you. If I do my job well, I make money. If I do my job poorly, I lose money. If you want to get rich at everyone else's expense, I suggest you work in government.
Nicely said. Both.
I agree with billyjoeallen and that is how I normally trade, bids and asks set on either side trying to gobble up volatility.
But I also agree with Walsoraj (there really is a first time for everything
) What I do and where I place my bets have nothing to do with the best interests of "the market".
My "job" as a "speculator" is to look out for #1.
full disclosure, I've just pulled my lower asks and I'm not risking any bitcoin below my lowest remaining ask from my previous tranche at 1194. My lower tranche begins at 808 (virtex)
I don't know from walls, but I think the news from the new york decision
http://www.coindesk.com/new-york-state-announces-bitcoin-hearings/ is going to move the market significantly.
I don't have time to sit by and try to execute trades when the price is moving fast (usually get time-outs or whatever kind of shenanigans.) but those standing orders always get taken.
Thank you both for intriguing me enough to actually try to put my feelings into words, it's not your fault I've likely failed.
65.
Post 4697337 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
so why is he desperately trying to patent a centralized version of bitcoin?
I say desperately because he has been rejected by the patent office like 100 times
Dimon is representative of everything that is wrong with the current system. the guy is a downright scumbag. If he were positive towards bitcoin,
then I'd be worried.
66.
Post 4698282 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Thar she blows (was watching huobi) now just let this damn thing fall already
67.
Post 4698473 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Thar she blows (was watching huobi) now just let this damn thing fall already
this is a slow and painful process
Damn, you are right, big wall at 800 on btc-e
damn you wall! we're coming through,
VVMF
TIME TO LET IT TANK - PULL ALL THE BIDS
68.
Post 4698878 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
did that 800 wall just get moved to 790? or did it get eated?
69.
Post 4698903 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
WoW! such moves! much waterfall!
I wanna see this mother TANK!
70.
Post 4698964 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
880 on virtex
canadians are mother fucking hodlers!
no walls are left.
stamp hitting a week long low?
Time for this to TANK!
Vrroom Vrroom MutherFuckers!
71.
Post 4699001 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
800 on stamp
Stamp wall looks weak
72.
Post 4699417 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Stamp you better hodl and wall up!
Holding a paperwallet here right now
Under 800 and i'm cashing it.
The bots on Stamp are doing their job......its the real investors on Stamp looking at Huobi who are cashing out....massive stretch of no mans land on Stamp between Ask/Bid....not so on other exchanges.
How this plays out will depend on what Huobi does. That is the exchange to watch.
totally. the action is fast over there this past few hours.
edit, though if gox goes below 900 or so, it could become a cascade effect. (let's hope)
73.
Post 4699482 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Someone notify the plunge protection team!!
why don't we just let them sleep in, ok?
74.
Post 4699801 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
this is getting real annoying, Canadians are way to bullish, its not falling
yeah, real sorry about that, I'm one of the assholes who bought at 871,
virtex is messed up, everybody looking for deals, but nobody selling.
75.
Post 4699919 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
yeah, real sorry about that, I'm one of the assholes who bought at 871,
virtex is messed up, everybody looking for deals, but nobody selling.
The real question is, is anyone buying?
I am?
76.
Post 4699954 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
yeah, real sorry about that, I'm one of the assholes who bought at 871,
virtex is messed up, everybody looking for deals, but nobody selling.
The real question is, is anyone buying?
I am?
at $871?
CAD
*THIS PART IS EDIT!*heh, funny, I just did the math, with CAD worth about .9 USD... 871 CAD = 783.9 USD -- which is pretty damn near the recent low on stamp...
I very much hope we go lower, as I have many more bids to be filled, but I fear this might not come to be......
77.
Post 4700196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
pretty sure someone mentioned it - but I think the wide adoption of bitcoin temporarily put a cap on the price as these retailers just simply dump the bitcoin via the likes of bitpay. People who don`t have bitcoin will still pay with traditional method when shopping at tigerdirect, overstock, etc - they will not go buy bitcoin just to pay with bitcoin. I can only see how users of porn site or online casino may want to buy bitcoin to complete the transaction.
You're still thinking short-term.
78.
Post 4707364 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
I´m almost out of coins
Got a boatload of fiat thou so bring it on motherfuckers, tank bitcoin down to 300 so i can buy back in cheap!
Been 4 sweaty hours of trading here
interesting, I'm in the opposite position. Thick on bitcoin, thin on fiat... still waiting for the rest of the bids to get eaten. If the price actually does hit 300 I think I only have 1 bid that will survive, lol.
79.
Post 4708167 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
I'm sure there were plenty of people who have contacted Bitpay with buying offers.
I doubt that these coins will hit the market.
They use bitstamp.
That's my feeling as well. I expect that bitpay checks for best price on the exchanges when you make a purchase, then they tack on their percentage, and they offer you the quote in bitcoin. Once your payment is seen on the network, I suspect they immediately cover their outlay. It's the only way to do it, they can't take speculation risk, they rely on small percentages of each and every payment for their business model.
Some businesses are starting to do it the right way... This one is the first I've seen (other than ASIC manufacturers) that takes and holds bitcoin directly.
http://www.coindesk.com/cigar-industry-receives-bitcoin-boost/*edit* meanwhile, huobi going back up? I'm not ready for this party to end just yet... SHOTR ALL THE BITCOINS!
80.
Post 4708478 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Buy the Rumour Sell the News.
News:Tiger Direct
Thoughts?
I think I don't recall seeing a Tiger Direct rumour, otherwise I might have bought.
Bitpay released the rumour like a week ago that there would be a "major electronics retailer" that would come online before the end of the month.
The "news" broke at almost the exact same time as the drop... coincidence?
81.
Post 4708557 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
precisely, that was the "news"
If you missed the 'rumour' on bitpay's twitter feed, don't feel too bad, it was only a small bump.
82.
Post 4708697 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
more "news"
time to sell, pull all your bids.
let this fucker tank!
VVMF
83.
Post 4709458 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Difficulty ATH!!! More than 2 billion!
Here is the expected BTC return for a variety of hardware during this present difficulty.
Utilizing something like that was is an average cost in USD to mine 1
BTC?
Edit: After considering the recent news with retailers accepting BTC as payment, and larger groups arrogantly attempting to hold a % of the mining income. BTC is seriously undervalued.
You could go as far as saying that $800 today is $8 Last 2012.
To address that bolded part: I think you are bang on. I don't think there are many new miners entering the market. The ones who are keeping up have likely realized some very large profit from previous mining. It is hard to quantify the price of a miner, since it is the profits from the previous miners that pay for the new ones. *(may all your miners be profitable)*
To address the edit, specifically the part about larger groups trying to maintain their %: I am not a large group. I mine in a small apartment (electricity is included in the rent). Whenever my mining income drops to around 1 BTC/week I feel uncontrollably compelled to increase my hashrate. I am already down to about .3 per day. If Neptune does not ship *soon* then I fear I might go absolutely bonkers. I've become accustomed to steady BTC income, and if that gravy train stops I'm not sure what I might do?
84.
Post 4715268 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
Everyone concentrate on the dead cat bounce.
Let's tank this to 4200 on Huobi.
Force of Will.
85.
Post 4727501 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
wow whos buying all the coin on virtex!?
this is scary...
I assume those red orders below were the ones that scared you?
Jan 25, 2014, 03:38:16 850.00000 1.70 Jan 25, 2014, 03:35:00 845.26000 0.21
Jan 25, 2014, 03:34:56 845.26000 0.44
Jan 25, 2014, 03:33:30 850.00000 2.00
Jan 25, 2014, 03:33:03 850.00000 0.20
Jan 25, 2014, 03:32:51 850.00000 11.59
Jan 25, 2014, 03:32:29 850.00000 15.00 Jan 25, 2014, 03:32:03 850.00000 0.08
Jan 25, 2014, 03:31:42 850.00000 8.83
Jan 25, 2014, 03:31:35 850.00000 11.17Scared me too!! Scared me right out of the market actually.
Just before I went out last night I pulled all my open positions and bought what I could with my leftover fiat. (the blue one was mine
) small potatoes I know, but I've got things I need to get done and I want to take a break from watching the market for a while.
The spread is now about $30 on Virtex, highest bid is 853.7 lowest ask is 880 -- place your bet at 854 and pray someone gives you cheap coins? or not... whatever helps you sleep at night
86.
Post 4729828 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.58h):
think bots are a problem?
What about blatant price manipulation?
Buying BTC
Created Amount Price Value
Jan. 25, 2014, 7:12 a.m. 1.5049/2.0000 881.76000 1326.96 CAD
Jan. 25, 2014, 7:33 a.m. 0.0504/0.0504 850.50000 42.87 CAD
Jan. 25, 2014, 7:12 a.m. 1.1000/1.1000 850.00000 935.00 CAD
Jan. 25, 2014, 7:24 a.m. 0.3303/0.3303 850.00000 280.76 CAD
Jan. 25, 2014, 6:56 a.m. 1.0000/1.0000 845.20000 845.20 CAD
Jan. 24, 2014, 10:24 a.m. 4.6167/24.4848 845.00000 3901.11 CAD
Jan. 24, 2014, 8:48 p.m. 5.8708/5.8708 841.04000 4937.58 CAD
Selling BTC
Created Amount Price Value
Jan. 25, 2014, 7:26 a.m. 4.9700/5.0000 884.89999 4397.95 CAD
Jan. 24, 2014, 11:49 p.m. 1.1000/1.2600 884.90000 973.39 CAD
Jan. 24, 2014, 11:17 a.m. 0.5898/3.0000 885.00000 521.97 CAD
Jan. 23, 2014, 11:03 p.m. 1.0000/1.0000 888.00000 888.00 CAD
Jan. 23, 2014, 10:34 p.m. 2.5000/2.5000 889.50000 2223.75 CAD
Jan. 23, 2014, 10 p.m. 0.1700/0.1700 890.00000 151.30 CAD
That's what the top of the current orderbook at Virtex looks like.
Who the fuck would place that red order if they weren't trying to manipulate and hold up the price??
Very glad I'm out of the exchanges for the time being.
87.
Post 4773988 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.59h):
I think watching the 5 min chart of Huobi is my favourite show on TV right now! Such drama and suspense! lol
*edit* actually, I'm kinda digging the 15 min chart, easier to see the plot twists, lol
88.
Post 4775476 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_11.59h):
Huobi roaring up again, very entertaining show this morning
89.
Post 4811891 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.00h):
Why can't we put somebody like Andreas M. Antonopoulos into that hearing? The comments and opinions of these people are not so well elaborate, as far what I heared.
Andreas would probably refuse the invitation. If he actually did go, here is how I imagine it would go down.........
Douchebag #1: "What do you think about the arrests yesterday?" <- actually was the first question he asked!!?!?
Andreas: "If you can't buy drugs with your currency, then what good is your currency?"
D#1: "blah blah blah money laundering"
Andreas: "Silk Road was doing maybe $100,000 dollars worth, tops. HSBC does like 100 billion and you give them a 2% haircut."
D#1: "but what about 9-11?" <-maybe not the exact question, but he went there pretty quick.
Andreas: "you know what? FUCK YOU GUYS! WE DON'T NEED YOUR PERMISSION!"
<mic drop>
90.
Post 4811961 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.00h):
Why can't we put somebody like Andreas M. Antonopoulos into that hearing? The comments and opinions of these people are not so well elaborate, as far what I heared.
Andreas would probably refuse the invitation. If he actually did go, here is how I imagine it would go down.........
Douchebag #1: "What do you think about the arrests yesterday?" <- actually was the first question he asked!!?!?
Andreas: "If you can't buy drugs with your currency, then what good is your currency?"
D#1: "blah blah blah money laundering"
Andreas: "Silk Road was doing maybe $100,000 dollars worth, tops. HSBC does like 100 billion and you give them a 2% haircut."
D#1: "but what about 9-11?" <-maybe not the exact question, but he went there pretty quick.
Andreas: "you know what? FUCK YOU GUYS! WE DON'T NEED YOUR PERMISSION!"
<mic drop>
One of the ladies in the second panel said basically the same thing about not needing permission. Something along the lines of innovation will happen anyway, whether or not people choose to submit to regulation. It was when she was talking about the "safe harbor" option for innovators.
hmm, I'm still trying to get through the second panel, Charlie Lee is not the most eloquent proponent of cryptocurrencies, but I thought the "safe harbour" stuff was covered in the first panel?
91.
Post 4812628 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.00h):
What the fuck!!! Who is buying the coins with JPY then??? If there is more jpy selling then buying, the price should just drop.
Are they for real? fractional reserve banking bitchez!
Pretty sure all trading on Gox is in USD and the other currencies you see are calculated by exchange rate.
There's no seperate exchanges within the exchange.This was actually one of the things that I think Charlie hinted at but was unable to get his full point across, but that's just my interpretation of the testimony.
I think that Charlie was trying to get to the point that your assets should be held as your assets... meaning, if you deposit bitcoin, you should have an account balance of bitcoin, it should not go into some magic mixing bin and whoever cashes out first, wins.
What we really need is to leave the world of trust. There should be a transparent receipt or proof of transaction (blockchain) that eliminates the need for trust. As long as there is a centralized exchange, and as long as it is under the jurisdiction of "legislators" then you still haven't really gotten away from the trust issue. the "counter-party risk" if you will.
92.
Post 4812759 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.00h):
MtGox has a combined currency order book. At 2.5% difference from current price, the order book is mirrored. If "foreign" liquidity is used, then the currency will be converted.
Now in the case of JPY, obviously there will be not nearly enough domestic buyers to match the Japanese arbitrageurs' selling. As such, USD can actually flee in this form, as long as a profitable price premium persists. The Japanese sells at a high price to withdraw, and the buyer hands over USD that are converted to JPY by MtGox.
Voila, Emptygox.
Very interesting. Any guess as to the Cryptsy business model?
many many currencies. playing around could get you burned pretty quick.
I wonder if they keep deposits segregated?
93.
Post 4831254 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,
But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.
Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.
The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.
I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it is so that they can maintain their monopoly on the money laundering business.
What do you think?
94.
Post 4831487 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
the hearing made me feel like the US was going for a minimalist approach to regulation, the chairman seemed very pro bitcoin.... I don't think they are going to regulate the shit out of it. they keep saying that they want to have enough regulation to feel comfortable and at the same time not stifle bitcoin's potential. If i was a conspiracy theorist i'd say bitcoin is the new illuminati money, and government agents are in on it. but i'm not going to go there.
Heh, I love a good conspiracy theory. When that law guy mentioned requiring the same level of oversight for exchanges as for banks, it makes me wonder if the banks just wanna become the new exchanges.
They know that's where all the money is at, and also the best opportunity for corruption. If they can justify high fees as "the cost of doing business" due to overly onerous regulation, then that's just icing on the cake.
Also like to say thank you to all the other respondents. This truly is the best thread on the internet. <- please note that I have not been vetted as a trusted source so that previous statement has not been confirmed
95.
Post 4831636 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Sorry if this is old, wish I could have watched this live, but at 34:15 (1st panel of day 2) that second law guy nearly slips up and uses the term crypto currency instead of the term he was told to use, "virtual currency"
Virtual currency is another catch phrase that they want to embed in the subconscious. Virtual currency is very different from crypto currency. Crypto is the term I would use to define a currency protected by cryptography, like bitcoin. Virtual is the term I would use to define Amazon bucks, or WoW gold, or USD; these are currencies that are centralized and controlled. Crypto currency is neither centralized, nor controlled, and I think that would scare them to death, if they only understood.
96.
Post 4831846 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
the chairman seemed very pro bitcoin...
Unfortunately the chairman of a public hearing is not there to take a decision, he is just the show's host. His mission is only to introduce the speakers and put them at ease.
The decisions, if any, will be taken by legislators and other government officials in coming months; and they will probably pay more attention to the opinion of bankers and other big investors, than to those given at the hearings...
One thing I think bears and bulls can agree on is that bitcoin is definitely not dull.
Remember that old Chinese curse? "May you live in interesting times."
Lately, it kinda seems like we've been cursed...
97.
Post 4831896 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
no...
like i said i could not afford to lose very much at all.
and i sodl alot in the 20's .....
you and me both.
you and me threeth. I pulled my csv's from virtex and ran them through a spreadsheet after the 266 bump, my average sell price was $17 dollars. I'm sure my average price has gone up a bit since then, but sometimes it sickens me to think how many of these things I let slip through my fingers.
98.
Post 4832160 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Is there a thread somewhere dedicated to these kinds of stories?
so in other news, at 40:00 in Panel 1 Day 2 the law guy starting going off about silk road. I don't know where to find a written record of his testimony, but I'll paraphrase.
"The volume was staggering"
"several thousand vendors"
"hundreds of kg of illegal drugs"
"well over 100,000 buyers"
"launder hundreds of millions of dollars"
So obviously, these are the guys we are trying to catch, because they undermine the operations of the mafia bosses.
HSBC
"HSBC was found to have laundered over $670 billion over the course of four years, and this makes BitInstant's total amount pale in comparison. HSBC was eventually fined $1.9 billion in an arranged agreement, which equates to 3/100% of the total amount laundered through their institution."
These are the bosses. You wanna play the game, you gotta play by their rules... until bitcoin.
oh yeah,
CCMF
99.
Post 4832586 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Ok, I hate to pollute this thread with non-meme filled posts, but if I don't blurt this shit out, I probably won't remember it in the morning.
At 60:50 law guy #1 starts going off about how identity theft is their biggest issue.
Let me paraphrase
"Let's be clear, cyber crime, identity theft, are an international crime wave."
These guys don't even understand that bitcoin kills identity theft outright.
*edit*
60:13 for the start of the question
60:40 for the start of the answer (note the obvious amusement of the female panelist - I think I kinda like her attitude)
100.
Post 4832913 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Ok, I hate to pollute this thread with non-meme filled posts, but if I don't blurt this shit out, I probably won't remember it in the morning.
At 60:50 law guy #1 starts going off about how identity theft is their biggest issue.
Let me paraphrase
"Let's be clear, cyber crime, identity theft, are an international crime wave."
These guys don't even understand that bitcoin kills identity theft outright.
*edit*
60:13 for the start of the question
60:40 for the start of the answer (note the obvious amusement of the female panelist - I think I kinda like her attitude)
Where was this?
look for Panel 1 Day 2- Law Enforcement and Virtual Currencies and then go to the times I list.
I'm going to continue to point out some highlights, in my mind at least.
here's another gem, around 67:57 where the law guy #2 talks a bit about his massive stash of bitcoin, "we seized it and we treat it as regular currency" --
also note at 68:40 law guy #1 doesn't really have an answer, or simply doesn't understand the question, so he falls back on the script of identity theft.
hmm, so what if we had a new system where you assholes don't need to know my identity, then it wouldn't get fucking stloen!!!1
101.
Post 4833405 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
nothing else interesting until 28:30 of Panel 2 Day 2- Virtual Currency Commerce and Consumer Protections
this is not even a paraphrase, this is what I think she meant "so this means more protection of the private keys? those are like the credit card number?"
I think that chick on the panel is starting to get it.
<please note my statements are still pending confirmation>
102.
Post 4850644 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
I've said it before, and I'll say it again. newegg should accept litecoin (and perhaps namecoin, doge, ppc, etc... ATI is miles ahead in terms of making efficient scrypt miners, and if they went into scrypt asics, they could corner that market, easy)
the first mover effect in bitcoin is gone, if newegg were to partner with a litecoin payment provider, it's like magic. Without something like that, I fear litecoin will die to the doge-wolves.
(*interesting that any time I type bitcoin, or litecoin, I get a red squiggle telling me I'm spelling it wrong. Yet when I type utter nonsense, like doge or doge coin, or even doge-wolves.. there is no red squiggle.
obviously doge is the true coin of the future.
103.
Post 4851133 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
(*interesting that any time I type bitcoin, or litecoin, I get a red squiggle telling me I'm spelling it wrong. Yet when I type utter nonsense, like doge or doge coin, or even doge-wolves.. there is no red squiggle.
obviously doge is the true coin of the future.
They named it after the Doge of Venice, since Venice is where the sovereign bond market was born, on the Rialto Bridge. Your spell checker honors the memory of the office of the Doge. Language is a product of the past, not the future.
cool, thanks, I thought it was named after that homestar runner stuff.
104.
Post 4866684 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.01h):
Happy Chinese New Year. Wonder where the horse will take us, but I am very tempted to go all in at this time.
I think I might wait for the year of the Goat
I'm so waiting for this.
I'm going to have to host a massive party somewhere
Looking forward to RSVP'ing my invitation!
105.
Post 4866758 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
What are folks planning on doing with themselves if there are months of sideways movements? Will you dabble in altcoins? Start a Bitcoin business? Drive yourself to despair trying to trade a $700-850 gap or just set an alarm for when there's an explosion?
I've realised that excitement in either direction is what's keeping me here more than financial gains, not that they're to be sniffed at.
During months of stagnation I do pretty much the same as usual. mine coins, hoard 90% and send the rest to the exchange for speculation.
The only thing that changes is that I tend to sell more coins during these times in order to keep my exchange account roughly balanced so that I'm ready for the eventual move to either side...
106.
Post 4866788 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
had some fun with charts.
I can't find the coin cheapness indacator on bitcoinwisdom??
where can I find a place that charts this indacator?
It is the most accurate indacator for deciding when to buy and sell that I have ever seen!
107.
Post 4868268 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
LULZ EDIT!!!1 this was what I meant to qutoe.
near 500 bid wall in 4860s on huobi....people market buying....
and pulled.
30B ask wall at 890 on CaVirtex!!!1
Jan. 30, 2014, 3:24 p.m. 30.0000/30.0000 889.99998 26700.00 CAD
That's massive for our little exchange,
*edit* cool! somebody just took a bite!
Jan. 30, 2014, 3:24 p.m. 29.8167/30.0000 889.99998 26536.86 CAD
108.
Post 4868464 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
<snip edit to remove mis-quote>
30B ask wall at 890 on CaVirtex!!!1
Jan. 30, 2014, 3:24 p.m. 30.0000/30.0000 889.99998 26700.00 CAD
That's massive for our little exchange,
there was a 300 BTC wall at 875 the other day.
I know it was partially eaten, i have a feeling it got pulled and the guy figured it was smarter to split up the order
Interesting. So is it the same guy you think? maybe someone like
davincij15 cashing out? (*never mind, I guess he already moved to Chile*)
or is it just all the ATM's cashing out?
http://www.huffingtonpost.ca/2014/01/26/bitcoin-atm-canada_n_4661974.html and also small local bitcoin stores cropping up all over.
http://bitcoinbrains.com/ http://www.bitcoiniacs.com/ After watching those NY hearings, I'm hoping that Canada will be smart and take a hands-off, wait and see approach to bitcoin.
109.
Post 4873725 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
*yawn*
just another weekend rally?
oh well, back to bed.
110.
Post 4874704 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Bitstamp
Upside breakout scenario.
We are flirting and have been bouncing around $820 and there seems to be some form of resistance here, it is a little sticky..trading sideways into a channel around $820
If we go continue to go up from here we may go from this $825 (ISH) channel top we have been in trading sideways and go up to $840 -$858 then there may be some resistance
If we go up from there
$840- $858 then I think we could trade in-between there up to $880 -$885 and see more resistance, if we break that then it is set for hitting the $900 - this is a psychological resistance point..
If there is a break out and if we go past $900 and break $910 -$915 then it has a chance to go onto break $928 and from there maybe we see a real break for $945 - $970 - $991 + then things get intersting...
I see us going up , but ...
Downside scenario from this current channel I can see the possible resistance
$825
$817
$800 psychological
$775 ish
$757 ish
$749
??
Edit.... or for now we see more of this sideways tading within a channel $775- $820 until something goes bump in the night.
What analysis are you using for your price targets? Fibonacci?
Maybe it's just because I've been on a holographic universe kick recently, but I'm starting to see fractals everywhere.
This *feels* just like the aftermath of each previous spike/correction.
As you scroll back in time on the charts, you just see the same pattern repeating over and over, just with smaller amplitude and longer time frames. It totally reminds me of those computer animations where they zoom in or out of the mandelbrot set...
http://www.youtube.com/watch?v=0jGaio87u3A <- For best viewing I recommend you put your scrypt miner on pause and re-enable flash hardware acceleration
or maybe that's just me.
111.
Post 4874949 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Confirmed Good News!
Thank you to all the bears who have sabotaged the train in order to delay departure.
My fiat deposit still has not cleared
112.
Post 4894879 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Ah, distinctly I remember; it was in the bleak December,
And each dipping streak of ember brought the price through the floor;
And the sick and sad uncertain trending of that crimson curtain
Thrilled me - filled me with fantastic terrors never felt before.
Beauty.
113.
Post 4922883 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
you know the fact that poeple aren't dumping on the bad news from Russia, is very telling.
we've seen a overload of FUD this past month, and price is holding its own.
bitcoin is not some house of cards, that could topple over at any moment, thats for sure.
it use to feel like that, but now it feel likes bitcoin has passed the test, nothing can stop us now!
Well its somewhat a different FUD. People not selling @btc-e, because whats the point? If they will get shut down you dont get your fiat out of there fast enough, its kinda dangerous.
So ppl just moving coins to wallets and other exchanges
Have you seen the ltc dumping? I pulled all my crypto out of btce and moved to cryptsy last week to try and get in on the action. last night I tried to cash out into bitcoin and withdraw. The lag was so bad it would time me out of my session and make me log in again and start all over before I could even get a transaction done. Got my money out today though, not likely going back.
btc-e is actually in trouble, i would recommend to withdraw from there, i did
btc-e, while it makes me feel squeamish sometimes, like it's a den of thieves or something, is miles ahead of cryptsy, and I just moved some btc back there in hopes of some bargains on ltc...
no risk, no reward
114.
Post 4923432 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
<snip>
Lets face it, the #1 use of Bitcoin right now in the world today is shifting money around off the radar of the banking system. Don't say it isn't cos it is. Bitcoin started life as an underground curency and therefore by definition, its initial target users were always going to be black/grey market participants. Honest John Law Abider got in on the action through speculation, speculation which came to dominate Bitcoin transactions, but speculation which is built around a spine of black market transactions.
Ahh, Mat, bitcoin doesn't enable money laundering. The ones that profit from money laundering are the ones that enable money laundering.
Some day you
will get this. I can feel it.
115.
Post 4923654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Ahh, Mat, bitcoin doesn't enable money laundering. The ones that profit from money laundering are the ones that enable money laundering.
Some day you will get this. I can feel it.
It isn't the fire that burns, its the heat.
It isn't the gun that kills, it is the person who fired it.
It isn't the knife stuck in your guts that kills you, it is your arteries pissing out blood that finishes you off.
Yeah yeah....but Bitcoin is a pretty good tool in the money launderers arsenal.
Especially the small/medium enterprise money launderer that doesn't have access to corporate banking routes of money laundering...or even the large scale money launderer that doesn't want to pay the premiums of going through the conventional routes.
You see! you are getting it!
bitcoin enables the small/medium guys to have a chance in this world that is controlled top-down by a very few, at the very top.
It
will be a bumpy ride, so buckle up!
*edit* quick thought, that overstock guy is one of the 'medium' guys... why do you think the price of his company's stock dropped so hard after he came out in favour of bitcoin?
116.
Post 4923833 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
<snip>
Do you have access to Wells Fargo's 'Money Laundering Department'?
Exactly. The only ones with that kind of access are the CIA and the large drug cartels of mexico and the rest of central and south america.
It's been proven. They plead guilty. They received a 1.9 billion dollar slap on the wrist.
These small timers running something like silk road? Oh, they goin' ta jail, son.
117.
Post 4923937 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Who is gonna dump first? It would be sweet if stamp would dump hard and either eat, or scare away that wall at 800...
He who dumps first, dumps best. (the rest all just get to sit around in the stink
)
118.
Post 4924477 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
Interesting chart:
log charts dinosaurs or it didn't happen.
119.
Post 4924631 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
the bubbles are deflating less and less because its becoming more and more apparent what going on, digital money is the future, invest now, or you will be forced to work for 0.001BTC a month in a few years.
The guy who made it (a Belgian economist) thinks bitcoin will correct to 600-400 in the following months.
you gotta be kidding me, if this doesn't follow the trend, it will just hit zero and flatline. I don't see much of a middle ground.
120.
Post 4924651 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
It would be more interesting if it was accurate. The 2011 bubble was ~3000% (from $1 to $32), the early 2013 bubble was ~1500% (from $13 to $260), and only the last rally was 600% (from $200 to $1200).
ahh, thanks for accuracy and context. I would be greatly appreciative if we could only go up by 300% this time? OK?
That would be great.
121.
Post 4924760 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.02h):
It would be more interesting if it was accurate. The 2011 bubble was ~3000% (from $1 to $32), the early 2013 bubble was ~1500% (from $13 to $260), and only the last rally was 600% (from $200 to $1200).
ahh, thanks for accuracy and context. I would be greatly appreciative if we could only go up by 300% this time? OK?
That would be great.
300% is a likely ballpark of where the next surge will take us. That's why I think its going to be a while before we are at 10k. I think its going to take maybe 4 or 5 more surges.
Like for a rough guess, not at all really serious:
700 ---> 2100 300% then
1500 ---> 3750 150% then
3000 ---> 5250 75% then
4500 ---> 6750 50% then
6000 ----> 9000 50% and so on...
hehehe, very nice, care to put some dates to that?
---
kidding aside, if we can somehow win against the most powerful nations and influences in the world, then I could see your "stepladder" scenario playing out.
I very much would like it if this is how it goes, but I think it will not be so easy.
122.
Post 4964192 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
drop without FUD = real drop.
Bearish market - seems Adam was over excited with the NY hearings
lol no way... i never get overly excited.
Yep. Adam is the most callously BTC-Trader ever. No emotions, just profit. Like bankster
precisely. Adam is never overly excited, or underly excited. Adam always exhibits the exactly correct amount of excitement.
now with that out of the way... WOOHOOOO!!! CHEAP COINS!!1
123.
Post 4964344 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
fuck apple, never buy anything from them and short their stock
fuck apple
Fuck apple indeed. Read Blockchain.info response; Apple has gone from an innovator to a rent-seeking parasite.
I can honestly and proudly say that I have never bought any apple product, and I never will.
I did briefly have quicktime installed many years ago and I did seriously consider getting an apple IIc when it was time to upgrade my Vic 20, but I rightly chose to go with the C64 instead.
)*
124.
Post 4964555 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Whenever there is a large sell at Huobi that moves the price way down, immediately afterwards there is a transaction by 0.01 BTC at the upper end of the spread,restoring the old price.
Does that counts as "manipulation"?
well, if it was done by the same seller, I would count it as an attempt to be underhanded, or manipulate other buyers. However I don't think it fools well coded bots.
I don't count that as manipulation. I count that as smart, a little sneaky perhaps as Davyd05 points out, but in an arena that does not receive 65 billion dollars in bailouts every month to cover their bad bets, I think we should all consider that at least our "manipulation" is out in the open. If we let the regulators in, they will just set in place rules that good "law abiding citizens" are expected to obey or else we go to jail, (like Charlie Shrem) while the friends of the regulators (HSBC) get to do whatever they like.
I know it's kinda apples and oranges, but maybe not quite, more like oranges and grapefruit?
125.
Post 4964609 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
This is one of those times when it pays to be a trader on mtgox...
No kidding, looks like some people not so worried about getting fiat out of gox.
Am I reading that right? 3000 volume within 15 minutes? Isn't that like equal to their volume for an entire day?
126.
Post 4964748 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
I'm never sure in anything Bitcoin related, that's why I said it might hunt me one day.
I'm still enjoying to see some of the big mouth bears hurting though.
Yup. Always have some dry powder available and never sell
all your bitcoin.
127.
Post 4964791 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
I'm never sure in anything Bitcoin related, that's why I said it might hunt me one day.
I'm still enjoying to see some of the big mouth bears hurting though.
Yup. Always have some dry powder available and never sell
all your bitcoin.
30k on Stamp waiting for cheap coins since December. Will touch them if coins get cheap or if choo choo would be very much wow obvious
while I got you on the line, mind voicing your opinion on how these Chinese exchanges make their money while offering 0% fees.
I don't trust that one bit.
128.
Post 4964893 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Gox dropping again!!!
WOOHOOOO!!!!!
129.
Post 4964921 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Gox dropping again!!!
WOOHOOOO!!!!!
Wait no, not so fast!
a 1e -8 transaction just took the spot price back $860 on Gox. The bottom is in and the recovery is on!
Blasphemy.
Let this sucker crash and burn!
<400 here we come!!!
130.
Post 4964994 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Added bonus to today's price movements, virtex price is now roughly equal to gox price. the 90 cents to the dollar conversion rate of CAD nicely offsets the goxbux tax seen in the gox price.
131.
Post 4964998 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
but seriously - this apple stuff is fuckin bad news
bad news for apple stock hodlers, that's for sure.
132.
Post 4965199 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Today has had the most variance that we have seen in about a week I think. Too bad it was mostly downward. We have almost recovered to the morning's price. I am all about slow and steady growth, but I have to admit that I miss the massive volatility swings
I get the feeling that the next massive volatility swing will be up. The market almost seems like it's trying to crash, but I think waiting forever to hit your price might be foolish. I try to buy the dips and sell the spikes.
133.
Post 4965537 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Today has had the most variance that we have seen in about a week I think. Too bad it was mostly downward. We have almost recovered to the morning's price. I am all about slow and steady growth, but I have to admit that I miss the massive volatility swings
I get the feeling that the next massive volatility swing will be up. The market almost seems like it's trying to crash, but I think waiting forever to hit your price might be foolish. I try to buy the dips and sell the spikes.
Yeah, I know...I king of feel the same way. I haven't sold any coins in awhile. I have managed to sell at most of the peaks, but I still regret selling, as I wasn't in immediate need of the money. I slowly just keep adding a little more here and there, but my dollar cost average keeps going up
It's like a double edged sword because you want the price to tank so that you can stock up on more coins, but at the same time, you don't want the ones that you bought to be worth way less than you bought them for...
try to think of it like every time you sell, you do so in the expectation that the price will fall.
it's very tricky to increase your bitcoin holdings by risking bitcoin, but if you don't have a lot of available fiat, or a superfluous supply of fiat, it's pretty much all you got to work with.
I'm a miner so I get a steady income of coins, but if I am unwilling to part with those coins, they remain unrealized gains.
I can't say it's gonna go up, or down, I just think it's a very interesting experiment thus far.
134.
Post 4965734 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Altcoins are much better way to increase number of BTC than btc vs fiat trading.
When we talk about unrealized gains, yesterday was a third month when I cashed out like 5 BTC. That's how I decided to hedge and gain some realized profits - selling for 4-5k$ per month. It's quite enough to live more than comfortably and to spare at least half of that where I live.
other than the $4-$40 move in litecoin on btc-e, I haven't done well in altcoins. I just don't have the attention span to stay on top of so many competing bets. Kudos to you for being able to play that market.
As far as that "unrealized gains" thing, I have enough problems dealing with my current fiat income and where to put that. Gold? Silver? I have a little of both, but most of my disposable income tends to find it's way to the exchange to sit and wait to pounce.
135.
Post 4965862 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Altcoins are much better way to increase number of BTC than btc vs fiat trading.
When we talk about unrealized gains, yesterday was a third month when I cashed out like 5 BTC. That's how I decided to hedge and gain some realized profits - selling for 4-5k$ per month. It's quite enough to live more than comfortably and to spare at least half of that where I live.
other than the $4-$40 move in litecoin on btc-e, I haven't done well in altcoins. I just don't have the attention span to stay on top of so many competing bets. Kudos to you for being able to play that market.
As far as that "unrealized gains" thing, I have enough problems dealing with my current fiat income and where to put that. Gold? Silver? I have a little of both, but most of my disposable income tends to find it's way to the exchange to sit and wait to pounce.
I don't play them all to be honest and have bad trades from time to time. WDC right now look like one I'll get burned with, though I always had luck with it and got on the top on the end. But I had lot of luck and some nose to get in into some great altcoin/shares etc. trades that made me approx 50x more coins with 250x fiat value than my initial investment in March 2013. I usually lose money when trading btc vs usd though unless I catch some big crash, I don't know shit about charts and stuff.
Still don't have reinvesting problems though, I'm waiting for 2-3k$ per BTC to start cashing out bit more. I have a plan then definitely, it's real estate and a state telecom share that pays around 8% of dividend for years.
nice, I'm still in the makings of my plan. gonna need 20-30k$ per BTC to see mine play out, I just hope I have enough time....
136.
Post 4965888 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
lol, I'd love to re-quote that with:
They're not laughing with you, they're laughing at you.
<insert laughing bankers meme pic here>
WAKE THE FUCK UP PEOPLE!
137.
Post 4965982 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
fuck apple, never buy anything from them and short their stock
fuck apple
Bitcoin bounty on epic Apple website/device hack?
nah, just ignore them, they will either have a turn of heart, or they will go away.
either apple *and the centralized power structures that rule our world* will win, or decentralized, consenus based social network blockchain-like organizations will take over.
bitcoin price will go up and down, and zero is always a possibility. but the genie is out of the bottle now, and the future looks turbulent.
138.
Post 4965999 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Altcoins are much better way to increase number of BTC than btc vs fiat trading.
When we talk about unrealized gains, yesterday was a third month when I cashed out like 5 BTC. That's how I decided to hedge and gain some realized profits - selling for 4-5k$ per month. It's quite enough to live more than comfortably and to spare at least half of that where I live.
other than the $4-$40 move in litecoin on btc-e, I haven't done well in altcoins. I just don't have the attention span to stay on top of so many competing bets. Kudos to you for being able to play that market.
As far as that "unrealized gains" thing, I have enough problems dealing with my current fiat income and where to put that. Gold? Silver? I have a little of both, but most of my disposable income tends to find it's way to the exchange to sit and wait to pounce.
I don't play them all to be honest and have bad trades from time to time. WDC right now look like one I'll get burned with, though I always had luck with it and got on the top on the end. But I had lot of luck and some nose to get in into some great altcoin/shares etc. trades that made me approx 50x more coins with 250x fiat value than my initial investment in March 2013. I usually lose money when trading btc vs usd though unless I catch some big crash, I don't know shit about charts and stuff.
Still don't have reinvesting problems though, I'm waiting for 2-3k$ per BTC to start cashing out bit more. I have a plan then definitely, it's real estate and a state telecom share that pays around 8% of dividend for years.
nice, I'm still in the makings of my plan. gonna need 20-30k$ per BTC to see mine play out, I just hope I have enough time....
Uh, if we get there and you still have lot of coins, just buy a heck lot of real estate and rent the heck out of it. The easiest and sweetest money beside btc of course
plans include a 3.5 acre lot and the quarter section farm behind it... (*and possibly if things go really well, as many of the surrounding acreages as I can scoop up!
*)
ahhhh, it's nice to dream.....
139.
Post 4966241 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
As amusing as that is, perhaps it also serves as a subtle reminder that if 'these types of people' really wanted to nail Bitcoin, it would so so easy for them to do it.
Ah Mat, perhaps a subtle reminder that it will not be so easy to simply "nail" bitcoin. In its core design it is uncontrollable. A world without bitcoin *or something like it* will be a world without freedom. The price can do what it wants, but in the long term, this whole thing comes down to a binary outcome.
140.
Post 4966857 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
let it go, let it go already. don't fight the price!
it wants to drop, so let it!
pull all your asks!
:edit:
yess!!! stamp!! let the blood flow!
141.
Post 4966939 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Gox dropping and stamp more-or-less staying the same is a good signal in my book. It needed to happen sooner or later.
(Of course I'd prefer if stamp rose to meet Gox, but that wouldn't make sense, now would it.)
after small 775 and 774 walls crumble liek dust, we will soon see single digits!
MUUAAHAAHAAHAHAHAHAAAAAAAAHH
(no, but seriously, after those are eaten it looks to be a long way down)
142.
Post 4967102 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Hmm is it possible that Gox is still relevant and drags the market down with it ?
Why would I sell if people on Gox are stuck and can't withdraw ?
when gox starts to drop, everyone else starts to think their exchange might have problems too, or at the very least, the price will drop due to the movement on gox.. a self-fulfilling prophecy.
143.
Post 4986959 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
144.
Post 4986983 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
When people can't see bitcoinwisdom, then most can't see how the new rise has weak support with weak volume. They can only see that the price is rising and they will buy in with less fear.. and then there can be more big dumps. Bitstamp is currently at 790, while there is decent buy support only at 772. But I bet the religious zealots are already buying in because it seems to be going to da m00n.
Like I told yesterday, this dance will last a long time, until all the "right whales" have sold their coins to the choo choo folks for the right price.
If can't see Bitcoin wisdom I am out!
Especially with all this other dodgy shit going on at the moment.
'bye Mat.
145.
Post 4987043 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
heh, check virtex orderbook for the lulz
Buying BTC
Created Amount Price Value
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 849.10002 42.46 CAD
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 849.00002 42.45 CAD
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 848.90002 42.45 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.80002 42.44 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.70002 42.44 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.60002 42.43 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.50002 42.43 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.40002 42.42 CAD
Feb. 6, 2014, 12:15 p.m. 0.0500/0.0500 848.30002 42.42 CAD
Feb. 6, 2014, 12:15 p.m. 0.0500/0.0500 848.20002 42.41 CAD
Feb. 6, 2014, 12:16 p.m. 0.0500/0.0500 848.10002 42.41 CAD
Feb. 6, 2014, 12:16 p.m. 0.0500/0.0500 848.00002 42.40 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.90002 42.40 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.80002 42.39 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.70002 42.39 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.60002 42.38 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.50002 42.38 CAD
Jan. 31, 2014, 8:38 a.m. 2.5726/2.5726 847.50000 2180.28 CAD
Feb. 6, 2014, 12:18 p.m. 0.0500/0.0500 847.40002 42.37 CAD
Feb. 6, 2014, 12:18 p.m. 0.0500/0.0500 847.30002 42.37 CAD
that my friends is the Canadian equivalent of Willy... hahahahaaa
146.
Post 4987545 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
heh, check virtex orderbook for the lulz
Buying BTC
Created Amount Price Value
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 849.10002 42.46 CAD
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 849.00002 42.45 CAD
Feb. 6, 2014, 12:13 p.m. 0.0500/0.0500 848.90002 42.45 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.80002 42.44 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.70002 42.44 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.60002 42.43 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.50002 42.43 CAD
Feb. 6, 2014, 12:14 p.m. 0.0500/0.0500 848.40002 42.42 CAD
Feb. 6, 2014, 12:15 p.m. 0.0500/0.0500 848.30002 42.42 CAD
Feb. 6, 2014, 12:15 p.m. 0.0500/0.0500 848.20002 42.41 CAD
Feb. 6, 2014, 12:16 p.m. 0.0500/0.0500 848.10002 42.41 CAD
Feb. 6, 2014, 12:16 p.m. 0.0500/0.0500 848.00002 42.40 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.90002 42.40 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.80002 42.39 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.70002 42.39 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.60002 42.38 CAD
Feb. 6, 2014, 12:17 p.m. 0.0500/0.0500 847.50002 42.38 CAD
Jan. 31, 2014, 8:38 a.m. 2.5726/2.5726 847.50000 2180.28 CAD
Feb. 6, 2014, 12:18 p.m. 0.0500/0.0500 847.40002 42.37 CAD
Feb. 6, 2014, 12:18 p.m. 0.0500/0.0500 847.30002 42.37 CAD
that my friends is the Canadian equivalent of Willy... hahahahaaa
This slicing of orders is common. Here is my understanding of why people do that:
If you post a single bid for 21 BTC @ 800, some other jerk may post his bid for 21 BTC @ 800.01, then you will not get anything until hs bid is filled.
If you spread your bid into 21 bids of 1 BTC @ 790, 791, 792, ..., 800, 801, ..., 809, 810, you will ultimately pay the same amount, but now the jerk cannot
get ahead of you by bidding just one penny more.
If he posts 21 @ 810.01 he will lose a lot of money, if he post 21 @ 800.01 you will gobble up 10 BTC before he gets anything,
if he splits his order too at 790.01, 791.01, etc. you both will get served together.
So, splitting seems to be a better strategy than lumping, very roughly speaking.
Does this make sense?
Thank you. That makes perfect sense.
147.
Post 4987686 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
whoever that is on stamp with the 730 wall should just let it drop.
let's get some momentum going already.
148.
Post 4988046 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
It has constantly amazed me how people have continued to use Gox over these last 6+ months when exchanges like Bitfinex and Bitstamp have provided lower fees, better service and WITHDRAWALS.
I would assume in a rational world that these current circumstances, whether Gox dies or not, will wake people up to the idioticy of trading on Gox. I can't, however, assume that the bitcoin world is a rational world. It's not.
But I do think that little by little every last moron will get the message and get out of there and on to some place else.
Meanwhile I will continue to look forward to the day where we have a professional, licensed and regulated exchange in New York.
I also look forward to this day. Not just in New York, but in every major city in the world.
Here's a nice start on some best practices for running a bitcoin exchange.
https://www.cavirtex.com/faq(Please note: understanding the regulations in your country is pivotal on whether or not you can operate a bitcoin exchange without being put in a cage.)
149.
Post 4988383 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Excellent read. Thank you.
150.
Post 4988897 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
the most fiat I can scrape together is $1000.
If I deposit into my exchange account I won't be able to buy BTC for 3 days.
If I hold it and BTC goes stupid low within the next 3 days, I can zoom into Vancouver and use the ATM
Decisions, Decisions.
I heard it's like a 7% fee on that machine... you might want to contact the
Kelowna branch and just transact in person. I'm sure if you contact them before hand you should be able to negotiate a better deal.
Or fly to Calgary.
Or Toronto. <- easterners are always slow on the pickup (*purely Albertan bias coming through*)
Not sure where you live, but there are other options...*edit* not sure how I missed the whole $1000 limit thing. I would recommend stalking local bitcoins for a while. people will always be willing to let bitcoins go cheap for one reason or another, just gotta be in the right place at the right time. Just wait for it, it will come.
151.
Post 4989110 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
Well that is a different kettle of fishes all together!
I'm in fairly decent shape other than the mining enterprise. I'm fairly certain (P= 0.99) that my initial buy-in is safe at 122. My trading account is full fiat atm. But I haven't had the funds to keep up my percentage of the mining spectrum. I have more equipment on order, but you know, 'delays' and the difficulty is what's really going to the moon.
I'm also mining, also equipment on order (pre-order actually.. KnC and CoinTerra)
I'm curious as to which mining equipment purchase put you under water on your mining operation?
Even the most expensive miner I have ever purchased - a Jupiter for 70 bitcoins, I walk past it every day as a reminder of my "$70,000" mistake, even though it's getting close to breaking even - even that was not such a bad deal to turn me off of bitcoin mining...
I'm just curious to hear what might have been the straw to break the back of your mining operation, in the hopes that I can avoid a similar fate. Also curious as to what equipment you have on order.
thanks
152.
Post 4989210 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
I very much hope your projection is proven true. I did quite well with my sub-500 bids last time, I would be overly excited if I would get a second chance at those prices.
to add a little humour...
http://youtu.be/SpLtvi-_vjQ?t=8m59s
153.
Post 4989887 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.03h):
I'm curious as to which mining equipment purchase put you under water on your mining operation?
Even the most expensive miner I have ever purchased - a Jupiter for 70 bitcoins, I walk past it every day as a reminder of my "$70,000" mistake, even though it's getting close to breaking even - even that was not such a bad deal to turn me off of bitcoin mining...
I'm just curious to hear what might have been the straw to break the back of your mining operation, in the hopes that I can avoid a similar fate. Also curious as to what equipment you have on order.
thanks
Not so much underwater as close to wondering if things will work out. I bought Asic usb sticks. Total for 15 units = $260.91 for 6.14 ghs or 42.43 per gig.
On order = CoinCraft A1 ASIC. 'They' say it should be shipping any day now. A benefit, they say, is an increase in hashing power to make up for being two months late.
The straw that is getting hard to carry is the increase in difficulty coupled with the massive increase in equipment that has gone live. The difficulty is the same for all of us, but the deep pockets guys are hitting the streets running.
Right now, the variance at my selected pool is, to use a vulgar expression, the shits.
Thanks for the honesty OldGeek. I was gonna reply privately, but then I thought that would not be in keeping with the idea of keeping everything for posterity in the Wall Observer (I consider this thread to be kinda like the blockchain of the speculation forum.) so here goes..
Sorry to hear about the usb miners, not familiar with the CoinCraft, what Gh/s do they predict?
I guess it's becoming true that casual mining is coming to an end. If I had not started early I would not have been able to build and finance my current farm, and there might come a time that I too am made unprofitable by the ever increasing difficulty....
It's kinda sad for the casual miner, but I think the mining infrastructure will self-regulate. Without profit incentive, the miners will jump ship without a second thought. (just an observation on the Scrypt mining scene lately)
Anyways, thanks again for the response.
154.
Post 5009585 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.04h):
apologies on posting out of turn, still catching up, but this second market thing started out like this exclusive club, only for "sophisticated" investors.
And now some bat-shit crazy mofo like myself with a measly 25 bitcoin in my wallet can get in on the action?
Whatever, I guess I'm glad to be part of the club?
155.
Post 5036142 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.05h):
Clearly a winning strategy here is to hold limit orders far outside of market prices for flash movements. Then after the positions are filled, you quickly liquidate them once the movement has corrected itself. It is practically a 0 risk strategy.
I'm not a real trader, but that has been my strategy on virtex for a long time. Partially because the high fees force me to have my limit orders at quite a large spread anyways, and that virtex is so small and illiquid, that the flash movements can cut very deep, both ways.
I always extend my tranche far beyond what I feel is a rational price, because the big price moves are seldom rational.
156.
Post 5068704 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
YAY! way to go ChartBuddy!
any chance you could add CaVirtex chart? (I realize there is very little demand for such a chart, but I would be very curious to see how it looks in that format and compared to one of the "big-boy" exchanges
157.
Post 5069030 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
it was probably a trader that stayed up all night to read the gox update, when it finally came in, he thought this is it the protocol is broken, and sold in a panic thinking the price would not bounce back because "this is the end of bitcoin"
and yes traders should have low ball orders for panic sells like this
probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells
To be honest we have grown 2 orders of magnitude, and when you trade in a foreign currency you sometimes make mistakes.
I think he hit sell at $60 not 600 thinking mBTC. I think he is OK. Got most of his order filled at a good price. Definitely lack of sleep.
wow, I think this is the most likely scenario I have heard. (Adrian's hypothesis, not Adam's) I have once done the same sort of thing, hitting buy instead of sell, and your buy price is so low that all your coins go poof! I can imagine a scenario where someone who is long on fiat wants to put in a nice lowball order like buy 1000 bitcoin for 100 each. Instead he hits sell 1000 bitcoin for 100 each.
I've done it once, luckily I trade in 0.1 bitcoin increments, and btw, I hate all that mBTC "we need to change the standard so people can understand it easier"... maybe it will become the case in the future, but anyone playing with bitcoin right now needs to at minimum be able to understand the decimal system
(appologies, but while we're at it, could we please get the Europeans to just adopt the . as the decimal? and not the comma? like, 1.000.000,00 is just the wrong way to depict a million dollars. - sorry bout decimal rant)
158.
Post 5069162 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.
They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane.
Right, Btc-e is taking Huge risk , they are GAMBLING with Customers USD deposits by allowing 1:3 leverage. If those are indeed forced liquidations, btc-e suffered millions in loss.
OK, I stand corrected, this is the most probable thesis I have heard so far...
Still way behind and trying to catch up.
159.
Post 5069725 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
anybody else is unable to withdraw BTC from btc-e?
Is this real life?
Is this just fantasy?
Caught in a landslide, No escape from reality.
Open your eyes
Look up to the skies and see........GOX turned everyone over
I'm just a poor boy ... again now that Gox has my coins.
Easy come easy go, little high little low. Anyway the wind blows, nothing really matters to Gox.
Mama, Gox just killed us all...
Put a gun against our heads, pulled their trigger now we're dead.
160.
Post 5069890 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
All rallies are low volume. But yes I am going 708 BSP wtf. This is too high too fast IMHO.
It seems that arbitrage trading stopped after today's crash. Each market seems to be going its own way.
The crash put the markets momentarily at hugely different prices, from 100 USD to 600 USD. It must have been a great stress test for the arbitrage robots, and they may have made some stupid and costly mistakes. Programmers now at work?
I like this train of thought. I like to pretend that the meatbags still have a chance.
161.
Post 5070143 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
That was the bottom of the bear market. I've seen it several times before and that's what it looked like. You can quote me on that.
LOL. All big dumps from here on out will be profit taking and not people cutting their losses. The weak hands lost their grip and gave us their coins. We're coming out of the valley and onto the plains, building up speed for the next mountain range.
There haven't been any cheap coins if you are trying to purchase from Coinbase. They are still at $700 aside from the 5 minutes this early morning (Eastern Time) when they went down.
I feel this pain, I have a 636 bid on virtex that also went unsatisfied. Why must you risk your money at less reputable exchanges in order to reap the proverbial "quick buck"?
Oh wait...
162.
Post 5070590 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.
They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane.
Exactly.
Insane, definitely yes.
But it does not matter to us hodlers.
In the central bank fiat world such a blow up causes them to print more fiat which negatively hurts me the prudent saver by lowering the value of my fiat.
In the bitcoin world such a blow up only causes BTC-E and their customers to lose money, while prudent savers are left untouched with the exact same BTC as they started with.
Agreed. You wanna talk insane? the central bank financing system is insane.
Centralized systems are coming to an end. they have become unnecessary in the advent of the internet. the publicly audited, distributed, de-centralized accounting system now known as a "block-chain" is simply one more tool in the hands of the many that will help take back the power from the few.
163.
Post 5070594 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
UP
*eventually*
164.
Post 5070818 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
OK, I have to admit, I sometimes feel the panic of lack of trust in the exchanges, so I decided to do a test withdrawl (some one many pages ago posted that they couldn't withdraw from btc-e, so I tested my exchange with a small withdrawl...
is that not the same shit that Gox was talking about?
this is the first time I have ever had a non-confirmed transaction, even during the fork last year... (I think it was last year?)
I still got my bitcoin, which at least gives me confidence that Virtex's system can account for these TX id's being changed, but is this transaction mixing going to become a real problem? and just how hard would it be to fix it?
sorry for serious question.
165.
Post 5071062 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
*Note, I have no TA abilities. I rely on very basic eye test and common sense*
I think today was VERY bullish for the long term. To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.
That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term. Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.
So short/medium term, I expect a little downward pressure, but nothing too serious. A lot of low volume sidewise/slightly down activity similar to most of January. It'll probably be boring and unsexy.
But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol). While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.
Nice to see a newbie with a sensible outlook.
Welcome to hell!!!1
*edit* WTH? I am now hero member!! tremble with fear!!! Oh wait, remember that bitcoin does not require heroes. bitcoin does not require consent. And I'm just a joker who punches my fingers on a flat thing with a bunch of buttons
166.
Post 5071152 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
*Note, I have no TA abilities. I rely on very basic eye test and common sense*
I think today was VERY bullish for the long term. To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.
That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term. Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.
So short/medium term, I expect a little downward pressure, but nothing too serious. A lot of low volume sidewise/slightly down activity similar to most of January. It'll probably be boring and unsexy.
But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol). While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.
Nice to see a newbie with a sensible outlook.
Welcome to hell!!!1
Sorry, what i meant to say was, TO DA MOON TOMORROW or else DOOM for all and $10 coins by next week!!!
I feel like I fit in much better now.
Tomorrow, tomorrow, I'll be rich, tomorrow. It's always a day away.
Always keep in mind that this is an experiment.
167.
Post 5071314 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
eah something fishy going on.
my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?
Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?
imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice
I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up)
You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable.
the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works.
I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know"
Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future.
168.
Post 5071394 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Oh yeah, just thought of this too,
when someone brings up gold and silver as "honest" money, just remember that bitcoin doesn't care about "honests"
Bitcoin is Voluntary Money
169.
Post 5071818 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
eah something fishy going on.
my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?
Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?
imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice
I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up)
You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable.
the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works.
I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know"
Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future.
great - so my exported transaction list DOES NOT ADD UP.
it includes the duplicate transaction of -0.2201 marked as 'Confirmed=FALSE' and a partly-confirmed mining income from an hour ago of 0.1674
please help me out here:
Wallet Status: Balance: 0.2146 BTC Unconfirmed: 0.00 BTC Immature: 0.1674 BTC
using the exported csv and adding all the transaction amounts, I get a total of 0.1363 BTC - this includes both the mining income and unconfirmed double spend.
Why does the math not add up? No matter how you add/subtract the renegade values my wallet amount isnt right
What wallet are you using? and are you sure it's a hot wallet? fully up to date?
my guess is the mining income is solid. anything that gets confirmed in even one block right now is pretty much a done deal.
if you see a transaction on the blockchain - with sufficient fee paid to the miners - and it doesn't get included within the next couple blocks, I would start getting worried at this point.
TX id might be more important than the developers think?
170.
Post 5072048 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
So it's just a trap in general.
the further down the rabbit hole, the further into the trap.
the first step in evading the trap is knowing that the trap exists.
the second step is knowing how the trap works.
the third step is fully recognizing the trap for what it is, and completely side-stepping and ignoring that 'trap'.
171.
Post 5072139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.
Does Coinbase really rely on miner's coins?
How do you know this?
*edited to remove confusion*
172.
Post 5072649 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.
Does Coinbase really rely on miner's coins?
How do you know this?
*edited to remove confusion*
They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB.
The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.Interesting. you think institutions are paying more to get in bed with the producers? to insure a steady flow?
or just paying premium to get untainted coins?
173.
Post 5073457 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Huobi having a lil mini rally.
mini rally better stop soon before it becomes not mini.
174.
Post 5073634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.06h):
Huobi having a lil mini rally.
mini rally better stop soon before it becomes not mini.
someone Shotred a lil' early ?
who? me?
yup!! I first shotred this market since $5... never thought we'd break over 10 again... I'd say I shotred this market way way too early, not just a lil' early.
175.
Post 5092375 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
Apologies for dragging up old posts, still catching up, but I had to say thanks, Fonz, for some very good news.
When I hear the bankers say stuff like: “bitcoin’s practical role may be no larger than that of an emerging market’s currency subject to exchange controls”
I think we still have much time.
Cheap coins for months... 500 will become the new 5.
get ready to settle in for the long haul. I hope?
176.
Post 5092737 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
You know, if every exchange switched to mBTC as the default, I wonder if this would psychologically encourage the price to rise. Hm.
no
100 times no. if people can't figure out the decimal system, then I don't want them even trying to make transactions in bitcoin.
we are a long ways off from public acceptance.
maybe some day, buy not today...
177.
Post 5092960 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
I have an aversion against dogmatic and dishonest people. It culminates in outbursts of the opposite order sometimes, even though I like Bitcoin.
So, you call Bitcoin shit because of a bug that affects appearance, not function?
Don't you think that's a bit of a dishonest proposition?
It just amazes me how it affects
all major exchanges. Actually didn't expect that. So yes, from a practical world view, I would say that something has gone wrong that this was not noticed before by any of them.
It amazes you? From my experience, I expect the exchanges to do as little as possible to continue to function. Again, this has everything to do with the exchanges, not Bitcoin.
The day we have a
robustdecentralized Bitcoin exchange...
fixed that for you
178.
Post 5094587 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).
According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/still trying (failing) to catch up, but this excerpt from that article caught my attention.
"Orders for bitcoin on the site will be executed four times a day, which is more frequent than the daily order execution for equities on the platform."
what?
please tell me that this is not normal to wait for "daily order execution" when dealing with the legacy system. traders must be able to trade instantly, otherwise, it kinda sucks. why would you even sign up for that?
maybe I'm just not understanding what "daily order execution" means?
179.
Post 5094642 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
The poll should have a "who gives a fuck.." vote..
It does.
In this thread "who gives a fuck..." is spelled HODL!!!!!!!!!!!!!!
180.
Post 5094785 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
The poll should have a "who gives a fuck.." vote..
It does.
In this thread "who gives a fuck..." is spelled HODL!!!!!!!!!!!!!!
LOL +1
hehehe, I always pick it, no matter what.
Listen, I play around on the exchanges and win or lose money, but in the long term bitcoin or something like it will either win or lose.
I don't like the kind of world we will be living in if an idea that becomes an open, distributed, de-centralized, ledger of account, that is audited in real time by millions of nodes world wide and cryptographically protected by more than 250 exaflops is built specifically to not let *anyone* control or corrupt it ...
If we allow an idea like that to become illegal, well then... "If you want a picture of the future, imagine a boot stamping on a human face — forever."
181.
Post 5094841 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).
According to Navidan, almost 5% of eToro’s active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/still trying (failing) to catch up, but this excerpt from that article caught my attention.
"Orders for bitcoin on the site will be executed four times a day, which is more frequent than the daily order execution for equities on the platform."
what?
please tell me that this is not normal to wait for "daily order execution" when dealing with the legacy system. traders must be able to trade instantly, otherwise, it kinda sucks. why would you even sign up for that?
maybe I'm just not understanding what "daily order execution" means?
The "200,000" traders (if that number is to be believed) do not own any bitcoins on eToro. They can't deposit or withdraw. Their accounts are
CFDs. They trade instantly with eToro.
eToro must hold BTC in order to be risk neutral for its own book. The daily order execution is eToro, as market-maker, buying and selling on a Bitcoin exchange to hedge the net long/short position of all the traders. They must have their own long-term prop fund to use as well.
thank you. I did not understand CFD's. Now I do. seems a decent gambling book. prudent to step up their execution schedule when dealing with bitcoin, though they might want to go at least hourly... bitcoin likes to move it move it.
182.
Post 5094992 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.07h):
Adam I am so mad, I didn't dump fiat in cavirtex ..though I knew I should've all the cheaper coins are not going to be mine
cheap coins at virtex? I think you're looking in the wrong place.
While btc-e fell to 100 virtex only reached 650 (yes, still bitter my 636 bid never got filled)
there are no cheap coins at virtex.
even worse, check
https://www.vaultofsatoshi.com/orderbook right now as I post this, if you wanted to buy a single bitcoin it would run up to 800 bucks.
canadians are a bunch of dreamers,
183.
Post 5133825 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
Ahh, thanks for this. That is my second favourite bitcoin song ever. Also very fitting due to the inclement conditions lately.
However, my top favourite of all time remains this ->
http://www.youtube.com/watch?v=yc6Hp_Zq3rUDo not despair, bitcoin may or may not be the one, but in the end, at least satoshi has given us the framework to come up with a solution to the global social problem.
This is not a get rich quick scheme. It's a war.
184.
Post 5134793 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
There has been someone buying 1000btc at a time on bitstamp and bitfinex at every hour during this entire downtrend.
Proof?
What if TERA
is the "someone" buying 1000btc per hour.
Dun dun DUUUUNNNNN.......... [that squirrel meme here]
185.
Post 5134978 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
Here's a question:
What happens to your nation's currency when you go "all in" on bitcoin?
Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.
The specific question I have is: would that make the relative value of that nation's currency rise or fall versus all the other nations?
186.
Post 5135171 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
Here's a question:
What happens to your nation's currency when you go "all in" on bitcoin?
Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.
The specific question I have is would that make the relative value of that nation's currency rise or fall versus all the other nations?
I don't think you can know that in advance.
yeah, but you could speculate? please?
That original post I just blurted that out there, and my question is true, I honestly would like to hear some opinions on this topic.
I'm still trying to wrap my head around what might happen when the first nation puts the green light on bitcoin, but my first thought is that other currencies might rush into your currency because of the easy exchange into bitcoin (or something like it).
Basically you would take over the US as the issuer of the new world's reserve currency.
Or maybe you just piss off the other nations enough that they quit dealing with you all together and you end up like a free decentralized and open North Korea?
187.
Post 5135298 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
So we got back to 625 and then someone puts up a wall there to make sure we go down again.
What is it with these people? When is it enough? Why the need to just take us down and then down some more? We'll be at 500 soon if this continues. Will people push it down from there on because there will be cheap coins at 300?
And the sheep in the meantime just keep selling because they think that will get their money back.
Really, when is it enough?
All the bears here, is this what you wanted? Are you extremely happy now? Or do we have to go down further? Are you people even buying coins or do you just enjoy the market crashing and everybody losing money?
I just don't understand the logic of constantly pushing down.
I don't know, but one possiblility is that traditional fiat is easier to launder than bitcoins?
188.
Post 5135336 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
<snip>
The nation's currency would most likely locally lose value and therefore relatively lose value compared to other nations' currencies. But since the country now uses Bitcoin, then Bitcoin will be more valuable then other nations' relatively... I have no clue
I also have no clue, that's why I asked the question.
Thank you for your thoughts.
189.
Post 5135415 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.08h):
Well shat. BTC-e api is down. Crapoola.
hehehe Crapoola liek craps...
<rolling the dice> cummooooon cheap coins. cheap coins, no whammies! commmon cheap cooooinsssssss, stop!!!!
Mua mua mu muaaaaahhhh, berooowoowwwowowwwwwww...
oops
190.
Post 5152305 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.09h):
How long does 380 wall at gox last?
191.
Post 5212367 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.12h):
market seems to have chosen it's intermediate direction... hodl on tight!
*edit for clarity* I blurted this out as soon as I saw the massive upward action on gox also happening on virtex... pity all other exchanges don't really look primed for the kind of move I am expecting.
192.
Post 5229445 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.12h):
Thanks Adam, that seems to be the most complete story I've seen so far. Unfortunate that
they are so quick and often to play the "funding terrorism" card.
(speaking of which, and dragging my own reply off-topic.. but this gives the US the perfect play in terms of their bitcoin hoard. They simply auction off the bitcoin, and a CIA plant will win the bid. They will then use the bitcoin fund a false-flag op and then use this to justify further controls, not just for bitcoin, but for their fiat as well.)
back on topic, regarding this quote "One option FINTRAC listed in the document was to “choke bitcoins oxygen (sic)” by denying Canadians access to the foreign-exchange market, "
That right there makes me think CaVirtex might have the proper business plan moving forward. That statement is pretty much business as usual for Virtex. As far as I know they only offer accounts to Canadian citizens and require driver's license and utility bill as minimum.
Sadly, this also means business as usual for me. I'm pretty sure I will still be able to move bitcoins in and out of btc-e or crypsty for some alt-coin plays, but in terms of fiat exchange directly in and out of my bank, it seems I'll be stuck with Virtex. (That's not exactly a bad thing, I've always had excellent customer service from virtex...I'd love the lower fees other exchanges offer, but I still value the trust factor, moreso now with what's going on at gox. How many of you have spoken with the owner of your exchange over the phone while their kids are
screaming playing in the background?)
193.
Post 5229592 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.12h):
About 10k coins added to asks on MtGox >1000
I never understood why people park their money in ridiculous orders. If, for some reason, bitcoin suddenly jumped up to $1000, I probably wouldn't want a computer automatically filling my order.
Somebody has been leaching all those cheap coins. 10,000 X 1,000 = 10,000,000 That's a pretty nice payday, and probably only half their coins or less...
194.
Post 5236596 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.13h):
First a greeting to Jorge from Venezia
Then a question: actually moving money around has a high cost and friction due to fees applied by banks and entities like paypal and so. How do you explain this in relation to the basic physic you named?
Could it be that we already have been made poor (thus engaged in a worldwide ponzi scheme driven by inflation) and bitcoin, being technologically superior, is giving us back a part of what has been taken (if not stolen)?
p.s. apologies for the bad grammar!
Good question. Imagine the "money circle" game, except you are handing around those $50 bills in a circle of friends in 10 different countries. Using fiat and paying exorbitant fees this game would obviously not last long.
Next, imagine that there was some magical, mystical way that you could track the money as it floats from friend to friend and that as soon as one person tries to "pocket" the cash all the other participants would know instantly that the money did not go where it should have because they were all auditing everyone else's transactions in real time...
195.
Post 5250557 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.13h):
By the time I catch up with this thread,
it is past time that I go to bed.
No time left to troll,
I'll just say hello,
and leave you with this crap instead.
196.
Post 5272021 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.14h):
I'm very bullish on BTC long term, in fact on cryptos in general, but right now the technicals are terrible and getting worse by the hour. Take a look at a 1 week chart with 50 and 200 week SMAs plus MACD if you really want to get a knot in your stomach.
ummm, SMA and MACD might be nice and all but I prefer adamstgBit's coin cheapness indicator. I just buy when it's below the green, and hodl when it's above the red!
197.
Post 5272284 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.14h):
Twas the night before Goxxing, when all through Mark's house
Not a feature was working, not even Mark's mouse
The bitcoin were slung through trades with despair,
In hopes that St. Solvency soon would be there
-snip-
Beautiful
Agreed. Had to quote this to make it easier for me to find, I suspect I will read this through many times...
Thank you humanitee, it gave me many a chuckle.
198.
Post 5272518 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.15h):
2014 - the new 2011.
Ahh, man, it is starting to feel that way, eh? Would be very nice, much easier than building a time machine.
and out of respect, one of my favourite tunes to listen to during times like this...
http://www.youtube.com/watch?v=A7TuFy0fcuwStill the first and only forum member that I know of that has had a song "written" about them.
Kudos.
199.
Post 5377663 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.20h):
Feels good to be only 100% BTC again. Being levered long was a little stressful.
I was feeling the same way.. most of my bids got filled, was going to just withdraw the coins to allocate to cold storage... and then this from virtex:
Withdraw Bitcoins
<< Back
Bitcoin Withdrawals are Temporarily Disabled
Please see our twitter feed for updates
Really Virtex? not you too?
200.
Post 5377833 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.20h):
Feels good to be only 100% BTC again. Being levered long was a little stressful.
I was feeling the same way.. most of my bids got filled, was going to just withdraw the coins to allocate to cold storage... and then this from virtex:
Withdraw Bitcoins
<< Back
Bitcoin Withdrawals are Temporarily Disabled
Please see our twitter feed for updates
Really Virtex? not you too?
Are fiat withdrawals still functioning?
Fiat withdrawls appear to be fine, I haven't tested but I have little fiat remaining, so I haven't tested.
LTC withdrawls are tested and confirmed working just fine (very fast too, gotta give it to litecoin for that)
Was considering dumping it all into litecoin just to withdraw, ltc<->btc ratio seems pretty stable...
201.
Post 5377919 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.20h):
hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexsomething about a problem when they enabled LTC trading...
if you can find an explicit reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works.
202.
Post 5377973 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.20h):
hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexif you can find a reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works.
They added LTC and it has caused some knock-on problems with their system.
Thanks, still don't see why the LTC withdrawls still work fine while they block all the BTC withdrawls...
Pump all the litecoins!!!
--- shitty part is that I have to pay 1.5% to transfer my BTC into LTC in order to get out... I'd much rather just take my BTC and exchange it at btc-e.
203.
Post 5398831 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.21h):
Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.
They are not gone, just pining for the blockchain...
Beautiful funds, those bitcoins.
This whole matter is far from being concluded... there is a lot of sorting that still NEEDS to be done. I am sure that we DO NOT know the half of the financial situation of Mt. Gox and the extent to which it may be feasible to either reopen or to reimburse customers.... these details are going to be worked out in the coming weeks.. and maybe months.
The customers will never get their funds and there was never any possibility of that happening. There were no buyers:
http://two-bit-idiot.tumblr.com/post/77967162725/breaking-full-mt-gox-story-cominggood old bitcoin, scams within scams, makes you wonder who you can trust...
almost makes you wish you could design a system that doesn't rely on trust...
oh wait...
204.
Post 5416384 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.21h):
woohoo, just got home and bitstamp looking ready to pop. To my memory when the oscillations flatten out like that, it usually means that we could see a quick move soon, usually to the upside...
though if I had to bet right now, I would bet on it going off a cliff rather than to the moon, luckily I placed my bets at 450 and I'm holding on to them tightly.
205.
Post 5417551 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.21h):
This is kind of like $100-$105 in July. We're not going to break the dark order resistance with this small volume now - and that means probably means going lower into a retracement to pick up volume and come back up.
yes. feels exactly like that. still stoking the fires to gain enough steam to get this thing moving... could take a while, at least until they plug the leaks in the boiler.
206.
Post 5417718 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.21h):
...what I have understood is that bitcoin isn't a good invention, but it's a good innovation...
The blockchain man, it is a fucking
invention, the world had to wait 30 years for this one after public key cryptography was invented.
While I agree, that blockchain is the part that could be classified as an invention the most. Then I still have to say that I see it more as an innovation, because it is built on already created inventions in cryptography. I think that blockchain is a great innovation, but I also think that it will be as great of an innovation in the future as iPhone1 is right now.
I partly agree, because the blockchain (the distributed blockchain, really) was inspired by some proof of work testing as an email spam antimeasure. But following crypto developments from the sideline for many years, reading the bitcoin whitepaper was a revelation.
I know most here have read it already but for those that haven't:
https://bitcoin.org/bitcoin.pdfI suggest everyone who hasn't already done so, first download this pdf and back it up in every place you can imagine; then, actually read the thing.
An idea like Bitcoin is exactly the kind of stuff that book burning was invented to combat.
207.
Post 5418050 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.21h):
An idea like Bitcoin is exactly the kind of stuff that book burning was invented to combat.
Precisely...
Printing Press == Free thought
Bitcoin == Economic Freedom
thanks dude, very concise.
how I'm feeling right now,
http://www.youtube.com/watch?v=bZCDifG3zQc <- by ZhouTonged, first time I heard it I thought it was crap, second time I actually paid attention to the lyrics... third time, I loved it.
208.
Post 5445462 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.22h):
Jorge they filed for bankruptcy protection.
is this true?
I thought they filed for bankruptcy.
I don't know Japanese law, but I have seen a Canadian company go through a bankruptcy
protection. Some people at the company were fired, some quit, some stayed... Within 2 years they were back to business as usual. Admittedly, I watched this from the outside, I have no idea of the internal workings of the procedure.
209.
Post 5447252 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.22h):
Doesn't that go against the whole guilty until proven innocent thing?
People often joke that "America has the worst form of government on the planet except for all the others." It ain't perfect.
There's a "stop and frisk" law in New York now. Basically if you look suspicious they can just stop you and search your person. That seems incredibly un-American to me (an American) yet it exists, seemingly in direct contradiction to "innocent until proven guilty" and the search laws we already have on the books.
False, "looking suspicious" isn't enough legally:
http://law.onecle.com/new-york/criminal-procedure/CPL0140.50_140.50.htmla police officer may stop a person in a public place located within the geographical area of such officer's employment when he
reasonably suspects that such person is committing, has committed or is about to commit either (a) a felony or (b) a misdemeanor defined in the penal law, and may demand of him his name, address and an explanation of his conduct.
yeah, all that legal language basically means "looking suspicious"
police
210.
Post 5497033 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.23h):
WooHooo!!!
fun times!
I took all bitcoins out of the exchange after I got cleaned out of fiat at 450
waht with all the rumours about gox, and all that
just wired a few coins back, think I want to open a position here.
thinking of selling about 1/3 as soon as they get there... and then see if we're gonna re-trace.
whaddya think? (keep in mind, these are $450 coins... I'm not against taking profits.)
211.
Post 5497258 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.23h):
shorts on bfx are pushing down hard now. that means there's gonna be a squeeze.
could you dumb that down a bit for those of us who are unfamiliar with leverage and options?
seriously, bitcoin is the first time I have ever traded anything.
if 'shorts' are pushing down, does the 'squeeze' mean price spikes down? or up?
I really don't get this
212.
Post 5497653 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.23h):
shorts on bfx are pushing down hard now. that means there's gonna be a squeeze.
could you dumb that down a bit for those of us who are unfamiliar with leverage and options?
seriously, bitcoin is the first time I have ever traded anything.
if 'shorts' are pushing down, does the 'squeeze' mean price spikes down? or up?
I really don't get this
up. but i think it should get to the neighborhood of 650 before that happens. they will overextend. this is not smart money. this is gambling addiction at work. before the capitulation, big money was in short, and could endure a little squeeze here and there, but big money won't be short for long in this environment. i mean think about it, no matter how overbought you consider the market after a quick run up from 535 to 710, if you KNOW for a FACT that there are multiple million-dollar buyers out there, and you've seen all the classic patterns flashing buy buy buy, how far are you willing to push it down? if you're really confident that the book is weak, you will hit it, just because you're an addict, and there is opportunity for a quick buck, but at the first sign of strength, you're going to cover quick.
thanks for explanation.
I am a degenerate gambler type, with a very small risk tolerance. so I like to take money off the table when I can.
If it's not gonna drop below 650, then it's not really worth it for me to sell immediately. On virtex, you need to make at least 3% on each trade, minimum.
virtex I could probably still get 720 CAD, but if stamp only drops to 650 then virtex will probably stay around 700, not enough delta for me.
I need an imminent plunge if I'm going to sell coins.
Maybe I will just wait.
EDIT:
Traders are borrowing coins on margin from Bitfinex and selling them into the market. These traders hope to buy them back cheaper in the future, return the borrowed coins, and pocket the difference. "Pushing down hard" means traders are borrowing additional coins and selling them into the market, thereby helping to push down the price.
There are presently 8,116 BTC on loan to short traders at Bitfinex. These traders are paying on average 27% per year in BTC to borrow them, and at some point in time they will buy them back because they aren't theirs to keep. If the price goes up instead of down, some may chose to buy back to minimize their loss, thereby adding fuel to the rally. At this point, other short traders may be running out of margin (they now have insufficient collateral to cover their mark-to-market losses on their short position) and Bitfinex will force them to cover, squeezing people out of their positions.
ok, I get it somewhat, but I thought that these kind of leverage instruments were supposed to tamp down the volatility, but they seem to exacerbate it?
213.
Post 5497864 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.23h):
orymh just posted a new song:
Mt Gox EruptsDefinitely worth a listen/lyrics read (posted at thread).
(Trading-wise, I think we bottom at 656 and head upwards.)
At first I thought it was all just mumble-mumble-mubmel--
Very glad he posted the lyrics, it's actually a pretty cool song.
214.
Post 5537449 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
http://ultra-coin.com/dropping at zerohedge and elsewhere. That infrastructure we were talking about?
I'm gonna beta test the shit out of this thing.
ohhhhh man!
goto 7:25 "super malleable"
I guess malleability is not bug after all
215.
Post 5537575 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
Probability of break out in the next 4 hours: 55.6%
Slumber method?
something far more arcuate...
now at
59.2%SLumber Ultra Pro Plus
nope, it's gotta be the coin cheapness indicator. It's the only indicator that I pay any attention to, lol!
216.
Post 5537948 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
I'm starting to feel bullish, we're going down?
I'm starting to get a head-spinning amount of bullishness.
Does anyone know the story behind this "ultra-coin" thing? ->
http://ultra-coin.com/It's obviously not this ->
https://bitcointalk.org/index.php?topic=413978.0 so I'm guessing it's not a "coin" at all. I'm assuming that it's a wallet that writes code to allow for more exotic bitcoin transactions, and uses p2p network to allow users to connect to set up trades.
It looks exactly like the decentralized, trustless exchange I've been dreaming about.
Why have I not heard of this before and why is no-one else excited?
217.
Post 5538023 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
It's a protocol on the top of Bitcoin, I think.
has to be, right? bitcoin is the only trusted blockchain you could do any kind of serious business on, and this Reggie guy looks serious.
218.
Post 5538401 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
I'm starting to feel bullish, we're going down?
Yeah, as I was 1 hr away, it looks like we went down a whole dollar.
whoa.
major flashback to the +/- 5 dollar days. <- edit for clarity: referring to the 4 or 5 months where we were stuck at 5 bucks, give or take.
219.
Post 5541059 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.24h):
major flashback to the +/- 5 dollar days. <- edit for clarity: referring to the 4 or 5 months where we were stuck at 5 bucks, give or take.
I think about this when people start getting bored after slowness for 2 days in a row. These people would never have survived that period.
It was too painful. I put my coins in cold storage.
hah! well done!
it's painful for me for different reasons; as a miner at that time I still thought I was making 'free money' and I spent more bitcoin then I like to admit during those dark days
220.
Post 5563446 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.25h):
What it I told you 24 hours ago that in only a day's time you would be surfing over to CNN and finding headlines like this:
I mean, you can't
make this shit up..
only in Bitcoin.
Thank you. been trying to wrap my head around this, now I see it.
221.
Post 5633744 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.25h):
whoa, it's gotten quite heated in here.
I just wanted to drop my favourite bit from all this drama, below.
-----------------
<snip>
Inevitable, the suicide of the state needs to be managed. If the state is willing and able to scorch the earth to protect itself from all disruptive organic change, then there will be a sharp structural break, inevitably, which will be very costly in human terms. Much better if either the state is co-opted to serve the people and stop crushing them, to live on as an entity enlightened by its past mistakes, and its failures in this range are met with substantial decentralized measures to ameliorate its failures and mitigate its damage.
There is a powerful and well-resourced globalist oligarchy, which is becoming increasingly organized, and will fight for further centralization, because it is easier to strangle one neck than 7 billion necks. It will use the decay of the nation-state as a stepping-stone to global governance. If you think the drama of the nation state in the 20th century was nasty, just wait until there are no exits. Much better to gradually supplant the functions of the nation-state with more local autonomous solutions (local in the sense of communities of aligned interests, whether geographic, economic, ideological, or cultural) which deal efficiently with the problems than to let a power-vacuum arise in which a spectacularly centralized interest becomes the emperor of all.
Those 2 paragraphs pretty much sum up my point on the matter.
I look at bitcoin and the rise of decentralization as a path to the future that might not have to include world war 3.
about the discussion about many small states vs fewer larger ones? I think that smaller groups mean more empathy, and more personal incentive to have a productive roll in the community. centralized, profit schemes like wall street means less empathy, you don't know or care who you're fucking over.
222.
Post 5633909 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.25h):
Volume on Huobi is much lower than normal right now
always seems to be a calm before the storm...
223.
Post 5634476 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.25h):
The interesting thing about Bitcoin is that it is one of the first true ancap technologies. It makes sense, though - everything follows money and it's only logical that money should be the first to change.
Indeed.
'Give me control of a nation's money and I care not who makes the laws.' - Mayer Amschel Rothschild
slowclap
224.
Post 5669596 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.26h):
225.
Post 5703678 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.26h):
Did I zoom out enough. According to the intersection ~$462 is it.
Edit:
Note that I only drew 2 lines, one starting out in April 2013 (lower line) and the other starting at November 29 2013 (upper line)
I do not nor do I want anyone to think I have any "special" TA skills.
if you are drawing a support back into a previous year, then it can't be linear - it has to be logarithmic
I'm not sure if logarithmic would be any better. I don't know from lines, but shouldn't you be picking your tops and bottoms from the same time frame, regardless of the scale?
BTW, I'm feeling like one more dip to the 450 range and then we will see some fireworks.
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
226.
Post 5777846 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.27h):
1d and 4h charts:
and there you have the fractal nature of price... it's almost unbelievable, isn't it?
kinda makes you think
227.
Post 5831436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
oh boy, here we go again, I'm getting 502 errors on bitcointalk and bitcoinwisdom keeps timing out...
PULL ALL THE BIDS!!
LET THIS FUCKER TANK!!!
(start bid tranche at 450 and cross your fingers
228.
Post 5831700 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
Thank you, that's a cool site.
But it doesn't explain why I got nothing but 502 errors for like an hour straight, maybe cuz I'm in canada it's just the harper checking out my shit, I dunno
*edit* 502'd me again as I tried to post... as long as I wait long enough between refreshes, it seems to let the odd one through.
229.
Post 5831744 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
Thank you, that's a cool site.
But it doesn't explain why I got nothing but 502 errors for like an hour straight, maybe cuz I'm in canada it's just the harper checking out my shit, I dunno
I'm getting 502s too in Bosnia.
Try here next time
http://www.isitdownrightnow.com/bitcointalk.org.html(*edit: I apologize for being a bit snarky there, that website is actually very cool, once you realize that it's not working because your not allowing the scripts (doh)
230.
Post 5832064 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
Thank you, that's a cool site.
But it doesn't explain why I got nothing but 502 errors for like an hour straight, maybe cuz I'm in canada it's just the harper checking out my shit, I dunno
*edit* 502'd me again as I tried to post... as long as I wait long enough between refreshes, it seems to let the odd one through.
Have you tried this
http://canadianoutages.com/companies?
Thanks again, a nice site, but I think the main benefit to that site is the fact that they take note of the providers, which is nice to get a review of each provider and how stable they are.
Unfortunately, I do not see bitcointalk listed in the companies they track, and if I'm having problems with my provider, then I probably can't get to that site either. When the problem is on my end, it get's very cold, very quick. I don't need a website to verify there is a problem.
I like the isitdownrightnow one tho,
231.
Post 5832293 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
Hi JorgeStolfi
how much value can you give to volume if there are no fees?
thanks
232.
Post 5833329 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
Hi JorgeStolfi
how much value can you give to volume if there are no fees?
thanks
I am pretty sure that my trading inclination is much affected upon the size of the fee(s)... and zero fees would turn me into a trading hawk... rather than a trading dove.
I get scared by BTC-e's measly .2% fee.... .b/c I figure that I gotta make .4% just to break even... and stamp is like .5% for the little rollers, like me, and coinbase charges me 1% (even though that is NOT technically trading).. These fees all add up to disincentives, at least for me.
Maybe any measurement of exchange volume should be adjusted based on the size of the fee..... especially if comparing one exchange to another.
yeah, I guess you kinda summed it up. When I consider the kind of swings I need on Virtex with 1.5% fees, I mean, 0% fees is a freakin' playground. I don't think you can take anything serious there.
233.
Post 5833371 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
how much value can you give to volume if there are no fees?
I didn't state any value, those are the numbers and I believe they are mostly real trades between competing traders.
However, I wrote earlier why I think that those numbers do matter:
https://bitcointalk.org/index.php?topic=178336.msg5801780#msg5801780Zero fees explain the larger volume, but do not make it irrelevant. If McDonalds had 10 times the sales than Burger King by offering free drinks, this reason would not make their sales less significant.
Thanks, but I think if you actually traded on a site that had fees, and then traded on a site that had none, you might have a better understanding of what I'm talking about.
Seriously, there is something to be said for street learning *meaning go out there and just do it, get your feet wet*
vs book learning *an academic interest only*
234.
Post 5833411 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
0% fees are good in flat markets, I don't particularly care about fees when big swings are imminent. If I'm making 15-20% on a trade, I don't really care about 0.5% fees.
0.5% would be quite acceptable, I've been dealing with 1.5%, which is mostly why I'm no longer trading. Hodling only now.
I'm curious seleme, do you think the 0% fee structure will take over and become the norm? It certainly seems like the asian markets are going that way.
235.
Post 5833479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.28h):
0% fees are good in flat markets, I don't particularly care about fees when big swings are imminent. If I'm making 15-20% on a trade, I don't really care about 0.5% fees.
0.5% would be quite acceptable, I've been dealing with 1.5%, which is mostly why I'm no longer trading. Hodling only now.
I'm curious seleme, do you think the 0% fee structure will take over and become the norm? It certainly seems like the asian markets are going that way.
I don't see point in 0% fees. Why would anyone run a business without making profit on it? It smells shady.
Bitcoin exchanges fees are huge compered to other markets but 0% is not normal.
Thanks,
I think it's maybe like those "free to play, pay to win" games - they will offer certain advantages to those that pay for them...
just a guess.
236.
Post 5884492 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
ehhh, I don't like the way this looks, I said a few days ago I thought we had one more big dip left before we take off, and I still think that way.
<snip>
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
I did quite well accumulating between 500 and 450 the last 2 big dips, I'm still thinking we could see the mother of all triple bottoms before April hits.
of course, it's still just a feeling, a "wild guess". Just be careful out there.
237.
Post 5884830 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
ehhh, I don't like the way this looks, I said a few days ago I thought we had one more big dip left before we take off, and I still think that way.
<snip>
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
I did quite well accumulating between 500 and 450 the last 2 big dips, I'm still thinking we could see the mother of all triple bottoms before April hits.
of course, it's still just a feeling, a "wild guess". Just be careful out there.
It is the way I "feel" myself, one more big dip before we rise but a bigger and more agressive dip this time, a scary dip
Let's see
I totally agree about an upcoming big scary dip... but it I think it will dip upwards. A reverse dip. (very big and scary though)
upward dips can be scary indeed.
unless u b hodlin'
238.
Post 5903871 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
IRS Says Bitcoin is Property, Not Currency
In a notice, the IRS said that it generally would treat Bitcoin held by investors much like stock or other intangible property. If the virtual currency is held for investment, any gains would be treated as capital gains, meaning they could be subject to lower tax rates.
http://stream.wsj.com/story/markets/SS-2-5/SS-2-490994/Probably willful confusion on the govenment side, just like the central bank reports.
It is not a currency, because it is not a generally used medium of exchange, ok, but it is
money.
It is not virtual, it is complete, full, real, tangible money.
The expression "virtual currency" should really not be used for bitcoin, cryptocurrency is better, but the best name is
cryptomoney.
And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that.
I will now steal it for my signature. Thanks Erdogan
239.
Post 5910193 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that.
I will now steal it for my signature. Thanks Erdogan
Actually, "Virtual currency" is pretty correct for Bitcoin. There are no bitcoins, only the transfer of bitcoins.
How can you transfer something that does not exist? Makes no sense.
Well bitcoins dont exist..... essentially one doesnt receive or send bitcoins, one just changes their identity in the block chain. but we just use the term transfer because that's what it's like.
This is precisely why I like the term "cryptomoney". bitcoin has more in common with the stone money from the isle of yap than it does with what we would consider currency.
You may be correct that we don't actually transfer bitcoin, but rather we transfer proof of ownership of bitcoin.
see
http://en.wikipedia.org/wiki/Rai_stones
240.
Post 5922287 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
When it comes to language, some have an 800 piece toolkit and some have a rusty spoon.
Perpend your proclamation purloined!
lol
241.
Post 5922552 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
btw, has everyone seen this already?
http://politiken.dk/oekonomi/dkoekonomi/ECE2244816/bitcoin-gevinster-kan-stikkes-direkte-i-lommen/After seeing the tax treatment the IRS put out recently, I'd move to Denmark in a second, if I didn't think the whole country is going to sink into the ocean, lol.
This would be the sensible stance for Canada (and every country really) to take, but sadly, I get the feeling that Heir Harper will follow the US precedent, as always.
:edit:
Whoa, wait a sec, Greenland would be under the same law, right?
Greenland can't be much worse than Canada, and after the glacier melts, there should be lots of cheap land for sale... hmmmmmm
242.
Post 5923982 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
holy molly cheap coins out of nowhere!
these not cheap coins till sub 500 (on stamp) - feel free to start buying at all points below 600 on virtex
243.
Post 5924059 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
That poor triangle
which triangle? could you post a picture?
I like the 4 hr charts and those look like a bottom line of the triangle around 530-540?
doesn't look good for my sub 500 before april guess, but whatever, that's the triangle that I see.
:edit for clarity: I've given up on my previous guess of the 400 dollar bottom triangle because I don't think using data points from those extreme dips is beneficial to my monetary health, lol
244.
Post 5924113 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
That poor triangle
which triangle? could you post a picture?
I like the 4 hr charts and those look like a bottom line of the triangle around 530-540?
doesn't look good for my sub 500 before april guess, but whatever, that's the triangle that I see.
the big one, from ATH, it's near breakout but China shits over it again.
ahh, yes, the upper bound... when (*not if*) we break through to the top, I think we may see the return of trains, rockets, and moons in this thread.
245.
Post 5924367 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
Greenland would be mostly underwater if the glaciers melted. It would be an archipelago.
uh oh, that's bad news.
.
.
.
even more bad news???
in times like these, when the charts are looking like waterfalls of blood, I like to listen to this song ...
https://www.youtube.com/watch?v=8bRDFgmFFGE <- may this be love - jimi hendrix
246.
Post 5944121 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.29h):
OK, just got home form the bar and appoligies for not cathcin gup to the current converstaainton
but I don't think I can read 20 pages before I paass out.
QUite a crasy day, I will probably jinx this horribly and I know the perils in tooting one's oun horn and all that but .. I just gotta say this..
Wild guess on timeframes? <500 before the end of this month, >1000 by the end of April.
stage 1 is complete, prepare yourselves accordingly for stage 2.
247.
Post 5959483 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.30h):
"cheap coins" - another cultist term
Imagine you were selling bitcoin futures contracts. What would someone have to pay you now in return for your bitcoin a year from now? These coins are going up and you know it. You just don't know how much they're going to go down first.
emphasis mine*
You know what the really cool part is? We can now make these contracts in ways that cannot be broken or backed out of.
Just wait until gold futures force settlement in fiat because they don't have the gold to cover their bets.
And to answer the what would it take for me to give up my bitcoin? I wouldn't take a bet stretching out any longer than a couple weeks, a year long contract is just ridiculous in bitcoin time.
248.
Post 6077609 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.33h):
What does it mean when the first thing on your mind when you get home from work is to catch up on the latest happenings on this thread?
It means you are just like me.
I'm just watching this ->
http://hypron.net/fantastic4/ right now and it really feels like we are going to see a violent move soon...
(*edit - 15 minute charts*)
249.
Post 6078176 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.33h):
<rant>
We are witnessing the beginning stages of a full-scale world-wide currency war, and bitcoin is on the front lines.
Interesting times ahead.
</rant>
250.
Post 6089575 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.33h):
it's sneaking up like nobody noticed.
That trendline formed a lil wedge.
Did you switch to Bitstamp now that your upwards support line on Huobi has been broken?
Nice try!
Now that
second chart (err.. third chart I guess, the very bottom one), looks extremely bullish to me. I don't know the terms but this guy on youtube told me that the more times you test a resistance level, the more likely it is that you will break through...
My gut is still uncertain, we could see sub-400 easy, but my mind is made up.
251.
Post 6090827 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.33h):
the next dump could be brutal
For the dumper yes. Who would dump at these prices?
I just market sold 3 BTC @ $465. If this shit continues, I'll double that and then double it again. Then I'll leverage short.
This doesn't make any sense. One should make decisions based on the current market, not "I am going to chase losses with leverage if I am wrong".
I made $400 today locked in. That's not "if the market holds". That's USD. and if the market keeps going up, I'll lock in more. I hope it does. I will have tens of thousands of dollars to jump back on the gravy train if a clear reversal materializes.
What exactly would be sufficient evidence or indication of a clear reversal?
252.
Post 6119802 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
China's a bit "wtf now?"
still small volume though and as soon as it tries to break this line you will see massive resistance.
huobi trying to come thru it
so close..
this chart reminds me of that long, sorry time, during 2012 when I was selling bitcoin for 5 bucks.
I'm not selling this time.
253.
Post 6120010 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
+1. Discover debit cards are great, but that won't reverse the most populous nation on Earth losing access to buy.
They can still buy using bank deposits, just not with money via 3rd parties. Similarly okpay, dwolla and aurumxchange were all stamped on last year by regulators in the West.
This is my understanding as well. The banks may not partake in anything bitcoin. Payment processors are banned from doing business with any bitcoin exchange.
-but- I do not see any problems with banks wiring yuan to companies operating exchanges, yet.
My suspicion is that all the Chinese gov't really wants is to be able to watch and control the flow of their money, through the banks, and they're still loading up on gold as well.
My feeling is that they really don't understand what bitcoin means just yet, they are still focused on the currency wars going on in the "real world".
I'm not so sure. The rumor is that bank deposits will be stopped also. I'm selling the bad rumor and buying the bad news. Until there is clarity one way or another, the uncertainty will weigh on the market.
If bank deposits stop, it will drive it completely underground. I think they prefer to keep a watchful eye.
254.
Post 6120230 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
+1. Discover debit cards are great, but that won't reverse the most populous nation on Earth losing access to buy.
They can still buy using bank deposits, just not with money via 3rd parties. Similarly okpay, dwolla and aurumxchange were all stamped on last year by regulators in the West.
This is my understanding as well. The banks may not partake in anything bitcoin. Payment processors are banned from doing business with any bitcoin exchange.
-but- I do not see any problems with banks wiring yuan to companies operating exchanges, yet.
My suspicion is that all the Chinese gov't really wants is to be able to watch and control the flow of their money, through the banks, and they're still loading up on gold as well.
My feeling is that they really don't understand what bitcoin means just yet, they are still focused on the currency wars going on in the "real world".
I'm not so sure. The rumor is that bank deposits will be stopped also. I'm selling the bad rumor and buying the bad news. Until there is clarity one way or another, the uncertainty will weigh on the market.
If bank deposits stop, it will drive it completely underground. I think they prefer to keep a watchful eye.
If they don't really understand Bitcoin, then they don't know that banning bank deposits will drive it underground. You can't have it both ways. We do know that they banned another payment system that uses QR codes. Small exchanges are shutting down specifically citing this regulation. My point is only that there is uncertainty and markets hate uncertainty. The PBoC had weeks now to clarify and chose not to, even though price has fallen significantly.
ok, granted, they might try to completely outlaw bitcoin. I hope they do. Every attack against bitcoin will further prove its resilience.
honey badger don't care.
255.
Post 6120347 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
who would have even guessed that we may be floating in the mid-$450s price territory for so long.
I know this one guy....
No legit target during few years. Fuck it, I go away.
256.
Post 6120526 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Does anyone else get the feeling like the dread is starting to sink into the last of the permabulls? I know that feeling. Maybe it's projection, buy I can almost hear the hope dying.
mmm, not quite feeling the pain yet, maybe that is a sign we should go lower.
There is a thread ...
here it is,
https://bitcointalk.org/index.php?topic=551627.0the point of maximum pain just does not seem to be here yet...
for me, there is no pain, I invested nothing, other than time and attention (ok, yeah, that is something) but this is just an experiment, you all must remember this!
don't get too carried away when we dip, don't risk more than you can afford to lose.
257.
Post 6120609 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
who would have even guessed that we may be floating in the mid-$450s price territory for so long.
I know this one guy....
No legit target during few years. Fuck it, I go away.
I think that it is a different story if an investor was in a position to cash out part of his stash in December 2013.. or had been analyzing what to do during that period mid-to-late 2013 period. So for example if anyone got into BTC in any kind of heavy way before mid-October 2013, the quick bubble may have likely caused a considerable incentive to cash out part of the appreciation - yet
many may have just remained "in for the long term."Surely the January, February and March performance seemed to draw considerations that BTC prices would remain at higher than $450s resting price points. Of course, hindsight is 20/20, but a very large majority of those would have pegged a much higher resting point than our current mid$400s.
And, i suppose, I could be just inviting some bears to chime in to say, I told you so regarding this current mid$400s price range....
As I already stated, I doubt that we are going to be hanging around here for too long.. and probably a bit higher would be more in line with current fundamentals or at least the probability of going up seems greater than going down.. despite current low volume..
Also, even though we know that graphs can be constructed to show that $450-ish is a good stable price point, i think that BTC prices are a considerable bargain at the moment and I am sure that quite a bit.. little by little is being snatched up at these price points by the future elite (to coin a phrase from another bitcointalk thread)
I think that 450 is a nice price point and I have bought there on the last 2 dips; this one, I am sitting out.
the point I'd really like to address is the part I bolded: I don't think there are many savvy traders that have remained "in for the long term" when we've lost 50% in what? 2-3 months?
I get the feeling that the next bump will be big, and I think many of those that sold at $1000+ were people that bought much lower, and they remember the ride, and would like to do it again.
just don't forget to take profits when the price goes in your favour.
:edit: "taking profit" is a term I used for NFL betting, that's where I learned to trade. and when you're up, you better take some profits off the table, or you will lose it all. (you can consider "profit" as either extra fiat for hookers and blow, or skimming extra bitcoin and saving it for a rainy day
258.
Post 6120858 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Does anyone else get the feeling like the dread is starting to sink into the last of the permabulls? I know that feeling. Maybe it's projection, buy I can almost hear the hope dying.
Probably gonna need a much worse situation than this... before the dread really begins to kick in... somewhere around 1 year of floating between $400 and $500 or maybe some additional downward movement slowly over the next six months bringing prices to lower $300 would begin to increase some dread levels.
I'm thinking the circumstances are NOT quite dire enough yet, especially reviewing some of the history in which the price reduced to 1/16th... wow... we are NOT even close to that, yet. Maybe we are getting closer to the 1/3rd reduction territory... so seems that there is a ways to go before dread really will start to materialize... I would think.
I meant permabull active traders with open orders. Guys like me staring staring at the graphs, wanting the arrow to move up like the way some rabid sports fans think that their team still has a prayer when the coach has already substituted third string players and the other fans are starting to leave.
never leave before it's over. (*and never go full fiat*)
https://www.youtube.com/watch?v=dDbEX666G3Ygo oilers!
259.
Post 6121142 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Not a single trade in Stamp in the last 17 minutes. The site is up. Is the trading API down or simply no one is trading?
Just getting a coffee
not just any coffee I hope?
http://i.imgur.com/pU2lyce.jpg
260.
Post 6121387 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
who would have even guessed that we may be floating in the mid-$450s price territory for so long.
I know this one guy....
No legit target during few years. Fuck it, I go away.
I think that it is a different story if an investor was in a position to cash out part of his stash in December 2013.. or had been analyzing what to do during that period mid-to-late 2013 period. So for example if anyone got into BTC in any kind of heavy way before mid-October 2013, the quick bubble may have likely caused a considerable incentive to cash out part of the appreciation - yet
many may have just remained "in for the long term."Surely the January, February and March performance seemed to draw considerations that BTC prices would remain at higher than $450s resting price points. Of course, hindsight is 20/20, but a very large majority of those would have pegged a much higher resting point than our current mid$400s.
And, i suppose, I could be just inviting some bears to chime in to say, I told you so regarding this current mid$400s price range....
As I already stated, I doubt that we are going to be hanging around here for too long.. and probably a bit higher would be more in line with current fundamentals or at least the probability of going up seems greater than going down.. despite current low volume..
Also, even though we know that graphs can be constructed to show that $450-ish is a good stable price point, i think that BTC prices are a considerable bargain at the moment and I am sure that quite a bit.. little by little is being snatched up at these price points by the future elite (to coin a phrase from another bitcointalk thread)
I think that 450 is a nice price point and I have bought there on the last 2 dips; this one, I am sitting out.
the point I'd really like to address is the part I bolded: I don't think there are many savvy traders that have remained "in for the long term" when we've lost 50% in what? 2-3 months?
I get the feeling that the next bump will be big, and I think many of those that sold at $1000+ were people that bought much lower, and they remember the ride, and would like to do it again.
just don't forget to take profits when the price goes in your favour.
:edit: "taking profit" is a term I used for NFL betting, that's where I learned to trade. and when you're up, you better take some profits off the table, or you will lose it all. (you can consider "profit" as either extra fiat for hookers and blow, or skimming extra bitcoin and saving it for a rainy day
I agree with you completely about the need to skim profits in accordance with whatever scheme is comfortable for the investor. My skimming will probably be in the form of reallocation of my total investment portfolio.. especially if there are gains in one area, as compared with another).. So for example, if I had been into BTC in early 2013, then ended up realizing an unexpected 10 times gain, that may have likely triggered me to reallocate the gains into other areas.. .or maybe engaging in some consumption, as you mentioned.
My perspective remains somewhat skewed by the fact that I began investing in BTC in late November 2013. Accordingly, my BTC portfolio remains in the red, even though I have been buying BTC as the price goes down in order to bring down my average price per BTC - which currently is around $640 - though I started at $1,200.
When I got into BTC, I realized that there had been a recent and stupendous bull run, so that caused me to plan out my investment over the next several months... rather than sinking in a lump-sum at that particular moment. Surely, in retrospect, there are probably ways that I could have played trades (or made my buys) in ways that would have caused even a lower average price per BTC.
At the time that I first got into BTC, I was also thinking that my BTC investment would likely run for at least 2 years, absent some catastrophic occurrence that may undermine the fundamentals of BTC with part of my motivation to diversify away from the dollar, since the remainder of my investments (which is a much larger proportion) are tied into the performance of the dollar. I am sure that many of us in the bitcoin sphere realize the amazingly high level of printing press matters going on with the dollar and also some of the threats of US government shut downs, and those seemingly irresponsible governmental behaviors have caused me considerable concerns about having so much of my total investment dependent upon the ongoing value of the dollar - especially when I am also planning overseas travel.
So,yes, I do NOT have any major problem with floating around in the $450 range for a while - even though it would be a bit more comfortable floating in the black rather than in the red... but I have already banked on the possibility that my total BTC investment could go belly up.. so the worse case scenario would be if it kept going down and sucking out my money.... which I really doubt will occur based on the totality of what is going on with bitcoin and there continue to be lots of interesting value adding developments in the bitcoin sphere.
Unfortunately, I do NOT have any advice for you, JJG.
hehehe!! no? not funny? oh well
this is why I don't do sales.
I can't lie very well, I can't tell you the future, I can't tell you that as long as you hold on to those $1,200 coins for at least a year, then you'll be just fine.
I actually shouldn't even be speaking right now, but I feel a compulsive urge to be involved in this thing somehow, and perhaps this is just my way of acting out, thowing a tantrum and all that.
I've always had the feeling that I would be involved in something great. maybe it's just a dream, a dream that everyone shares?
as far as price action? that is for traders, if you want to be a trader, then you can.
personally I think we are approaching some interesting times and I'm not very excited about some of the possible outcomes.
261.
Post 6149618 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
http://letstalkbitcoin.com/e99-sidechain-innovation/I'd like to know what you all think about these side-chains. I apologize if this has been beaten to death already, but it's tough to keep up with this thread.
The way I understand this it kinda makes sense. you would just have alt-coins be side-chains instead. you simply cannot compete with the bitcoin blockchain. you can try to merge litecoin and doge all you want, but it's never going to approach the security level of bitcoin.
side-chains open the door for scalability without dilution of value.
I fear for those poor bears at times like these.
It may take many months, but it's coming...
(*edit*) very cool that it's episode 99 -- (99 = Gretzky = the greatest hockey player of all time, and it's not even close)
262.
Post 6150479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
A bearish article about the mood of bitcoin traders in China:
(Possibly already obsolete after the deelopments of the last five minutes):
比特币一月狂跌三成 甬城多数玩家清仓避险
http://money.zjol.com.cn/system/2014/04/09/019956348.shtmlThe title makes no sense under Google Translate but the body is slightly better.
Note again that "Wright" is "Lite"(coin).
Hi Stolfi
I think you should spend less time on newses and spend more time on this >
https://bitcoin.org/bitcoin.pdfOnce you fully understand the implications, then you should look into the additional layers that blockchain technology allows for... >
http://letstalkbitcoin.com/e99-sidechain-innovation/When regular people begin to understand what is going on, they will DEMAND transparency from their gov't spending. blockchain tech allows for systems that cannot be corrupted. by removing the incentive for corruption offered by our current, centralized model, you will open the doors for honest, innovative people to contend for positions in governance.
I sincerely hope you will take a non-biased and open-minded look at this bitcoin thing.
263.
Post 6150635 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Come on bears! Weak!!!
why is it all bulls are always in total denial in a sell off. There are huge Bear flags forming, the lower trendline from March 4th indicates the price will go sub $380.
I see a cup and handle pattern forming
but maybe that's just the bull in me
I don't put much stake in lines drawn between highs and lows.
I would prefer a channel.
but I just don't think it's fair (or accurate) to draw lines touching on highs and lows...
264.
Post 6150674 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Come on bears! Weak!!!
why is it all bulls are always in total denial in a sell off. There are huge Bear flags forming, the lower trendline from March 4th indicates the price will go sub $380.
I see a cup and handle pattern forming
but maybe that's just the bull in me
I don't put much stake in lines drawn between highs and lows.
I would prefer a channel.
but I just don't think it's fair (or accurate) to draw lines touching on highs and lows...
I raise you a bear flag!
cool, but please explain why it's a "bear flag"
it looks like more consolidation to me, but I understand that my viewpoint is biased, and I appreciate contrary viewpoints.
265.
Post 6150704 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Come on bears! Weak!!!
why is it all bulls are always in total denial in a sell off. There are huge Bear flags forming, the lower trendline from March 4th indicates the price will go sub $380.
I see a cup and handle pattern forming
but maybe that's just the bull in me
I don't put much stake in lines drawn between highs and lows.
I would prefer a channel.
but I just don't think it's fair (or accurate) to draw lines touching on highs and lows...
I raise you a bear flag!
cool, but please explain why it's a "bear flag"
it looks like more consolidation to me, but I understand that my viewpoint is biased, and I appreciate contrary viewpoints.
just type bear flag into google
I got this from google >
http://www.bearflagwine.com/looks pretty cool, I think maybe I am a bear after all...
266.
Post 6150719 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Now is really the time to discuss 15m formations, lolololol
Cup&handle on the 1m spotted
reversed head&shoulder on the 3m
......
Chaos will enfold soon!
hiya fonzarelli, the chaos has not yet begun.
if anyone thinks this will be a simple and easy transition, they are sadly mistaken..
(that's only, like, my opinion, man)
267.
Post 6150741 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
we like to talk about ideas like "freedom" and we (those of us in north america) like to think that we have freedom, but we do not.
we are subservient to our government, instead of the other way around, as it should be.
I get the feeling that the times, they are a changin'
268.
Post 6150815 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Now is really the time to discuss 15m formations, lolololol
Cup&handle on the 1m spotted
reversed head&shoulder on the 3m
......
Chaos will enfold soon!
where do you think the bottom is ?
~350 in the next 18 hours
Long term bottom in the next months around 100$
Not sure id want to pay $350.. I'll wait for a better offer
I would never ever buy in at this point, but we might stay there for a few hours/days due to consolidation.
Why not, I took a bite at 425.2
Chances for a bull trap (or trend reversal) are minimal right now.
trend reversal will happen at some point, or it will not.
it's like betting on a 1000 to 1 outcome.
this will either work or it will not. this moment in time is when you will choose your side.,
269.
Post 6150865 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
I haven't been on the forum for a number of days and haven't really been following BTC closely. What's going on? Why is the price falling?
China banned it again. Twice. Also, there's no future in the whole crypto thing; it turns out to be a ponzi scheme after all. I'm just buying a few to help out, for auld lang syne.
Should auld acquaintance be forgot,
And never brought to mind?
on a serious note, I'm starting to wonder if bitcoin is the US secret escape plan for getting out of the current currency game.
they are starting to accumulate a large stake through stealing coins from bitcoin innovators like Shrem and Ulbricht.
270.
Post 6150906 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.34h):
Was thinking a few days ago bidding at lower 400's would be a safe, smart play even for bears. i am quickly changing my mind.
I told a guy I know that was interested in bitcoin a week ago that I thought breaking through 400 CAD was unlikely.
I told him again today that I no longer held that view.
I am feeling now that we might go below 400, until the point of maximum pain.
on this journey, simply remember...
“I must not fear. Fear is the mind-killer.
Fear is the little-death that brings total obliteration.
I will face my fear. I will permit it to pass over me and through me.
And when it has gone past I will turn the inner eye to see its path.
Where the fear has gone there will be nothing. Only I will remain.”
― Frank Herbert, Dune
271.
Post 6164422 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.35h):
ah this really sucks
Hey Adam, you know what
really sucks?
CaVirtex says because of some stupid law that I need to re-verify my bank account, and the way they verify is to send money to my account and then I have to tell them how much they sent...
Of course, I'm not going to know how much they sent until
who knows when? -- and then it will still take 2-3 business days for my deposit to clear, meaning I won't have funds in my account until, I dunno, next tuesday? wednesday?
I might just end up going to bitcoinbrains and eating that 6.5%...
Or maybe I just take the money I was going to spend on bitcoin and buy a flight and a hotel and go to the expo in Toronto this weekend
272.
Post 6164716 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.35h):
ah this really sucks
Hey Adam, you know what
really sucks?
CaVirtex says because of some stupid law that I need to re-verify my bank account, and the way they verify is to send money to my account and then I have to tell them how much they sent...
Of course, I'm not going to know how much they sent until
who knows when? -- and then it will still take 2-3 business days for my deposit to clear, meaning I won't have funds in my account until, I dunno, next tuesday? wednesday?
I might just end up going to bitcoinbrains and eating that 6.5%...
Or maybe I just take the money I was going to spend on bitcoin and buy a flight and a hotel and go to the expo in Toronto this weekend
I was lucky i did this last week, also have an EFT on its way hope it comes through tomorrow. have you tried
VoSI have not tried them yet, but I expect I would have to verify with them as well, I'm not sure how long these prices will last. Maybe it will keep dropping and not being able to fund my account will actually turn in my favour.
One thing is for certain, once you experience bitcoin, the legacy banking system is downright laughable. It's seriously like comparing physical mail to email.
(*45 new replies?!?!?!*) holy crap, I need to type faster, lol.
273.
Post 6165125 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.35h):
Mining is no big deal issue. Half of all miners loose money. The difficulty will simply drop. It's happened before.
No! Why should the hashrate drop? Because they want to lose even more money?
Successful miners mine at a loss 90% of the time. That last 10% of the time, they make 20X% profits. That's the way it works. It's the long game. The smart ones lock in operating expenses for years or donate to the Cause knowingly. The WANT difficulty to rise to the point that only they can continue to mine at all, much less mine profitably. Then they have cornered the market. It's not different incentive-wise to me wanting to die with the most coins.
Personally, when I wear my miner hat, I do not consider the fiat price of bitcoin at all. I consider mining as my second job, and I concern myself only with acquiring more coins. Those coins I expect to be my retirement fund.
(I must admit that I did not always feel this way, and sold more coins at sub ten dollar prices than I care to think about. My philosophy at that time was that I had to pay off my investment, $2600 for 4 7970's - sold at least 3 or 4 hundred coins just to pay those off. Since ASICs all my hardware purchases have been denominated in bitcoin. When I make a decision whether to buy new equipment or not, it is based solely on the amount of bitcoin the unit will cost, and the amount of bitcoin I expect it to mine, within a reasonable amount of time.)
Only when I wear my speculation dunce-cap do I worry about price.
274.
Post 6165398 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.35h):
I love those guys who told me to fuck off. What am I doing now? fucking off. I'm not buying. You pissed off one of the guys who could save you. (not really. I'd have to care)
Should I start buying yet?
Nah. I can wait.
Will I miss the bottom? Prolly. I have so much cash I don't have to care. Some trader smarter than me will catch it and "save" Bitcoin without even meaning to. The decentral bankers of Bitcoin: The bad ones pay the good ones and the good ones reduce volatility. Clearly we need more good ones and that's what I'm learning to be.
You could save me? Haha, well, fuck off again Mr. wanna be big dick with 20-30k $, I have more fiat waiting than you do
What a fucking deluded moron, sold at 450$ and he thinks he is some big motherfucker trader..
this is the kind of vitriol I've been waiting for. definite buy signal for me.
275.
Post 6165536 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.35h):
if we go below 300, I declare that we are breaking the previous ATH...
Now
that would be interesting. It would mark another first for me, would stick in my memory like the first spike I saw (up to 32) or the first crash I saw days after, or that time the blockchain forked, or...
276.
Post 6165724 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
I think $339.8 was the bottom. Whats ya'lls thoughts?
not even close, this gonna get fugly me thinks
I hope you're right. I hope this drags out for months.
277.
Post 6181189 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
What would this pattern be called, if it broke out: Head, shoulders, and hips?
how about the panty line indicator
LOL
it actually looks just like a nested head and shoulders. how often would you encounter such a pattern in "normal" trading? like stock market stuff?
edit - yeah, just like inception, we're gonna see patterns inside of patterns inside of patterns...
scary part is, that if you look closely enough, it becomes true.
278.
Post 6181228 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
I think this is the plan:
I'm cheering for team red! Who's with me?
:seriously, feels like a much firmer bottom in the 300's, and who can resist a firm bottom?
::even more seriously, can you share a zoom-out so we can see the whole trendline? thanks.
279.
Post 6181495 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
I'm not confident in this being the final bottom for the same reason as last time. The stoch RSI is wrong, again. The reversal is being triggered by some piece of information and a panic at the wrong point in the trend with no evidence of a true capitulation having occured. In a real reversal, everyone is bearish and someone is there sneakily buying up all the coins that the bears are dumping despite all odds, and the price slowly scoops it way upwards with the MACD crossing as the stoch RSI is still low. It usually features a sort of double bottom a couple days apart with both days having high volume.
my emphasis
does anyone have that link to the second market observer? I thought I had it bookmarked, but I'm either mistaken, or just can't find it, or more likely just plain drunk.
:edit: here it is, thanks stolfi.
https://bitcointalk.org/index.php?topic=337486.0That was a lot of coins they bought yesterday, could they be the one who is "sneakily buying up all the coins that the bears are dumping despite all odds" ?
280.
Post 6181707 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
281.
Post 6181950 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
yeah....Ive always treated the minor bottoms in this area with much caution from a bearish point of view, since it is historically reversal territory. This is probably the first one to blow a bunch of bears out of the water, which makes it exciting. It only takes an announcement from PBOC to make new lows, so yeah maybe it needs time before we can call it a bottom on a larger scale.
What excites me most, is that the level to break the monthly wedge is only 510 now. 'only', as in only $60 away, but the resistance of the wedge could be potentially be a lot. the test may come soon - 15th (!)
The problem with our little wedge is that is linear, so it is bound to break within a finite time when it reaches zero, which occurs in August. Does that mean we are guaranteed a reversal in July? You can't say we're guaranteed a reversal. The downtrend could very well go on well beyond that, hypothetically. You can't say that just because geometrically speaking, a sloped line will meet zero, that a reversal is guaranteed.
So maybe, when you're dealing with large price ranges and long amounts of time, it is more appropriate to use a logarithmic line. This way, the line could be in effect infinitely. There could potentially be a false breakout of the linear line only to meet resistance at the logarithmic line.
Actually, I think the ichimoku cloud on TradingView is a much better visualiazation of resistance than a rigid line.
that purple zone pattern looks about right to me. needs a dinosaur to be really convincing though.
282.
Post 6194703 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.36h):
some perspective.
monthly inflation of bitcoin = 25 coins per block * 6 blocks per hour * 24 hours per day * 30 days per month = 108,000 coins per month.
monthly inflation of USD from fed QE alone = 50,000,000,000 USD per month.
and just for fun: 50,000,000,000 USD per month / 108,000 coins per month = 462,962.96 USD per coin.
283.
Post 6258840 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.38h):
yes bear trap, could be a good one.
At this time it could be anything, to be honest atm it feels like this market is led by some emotionally unstable teenagers.
crash back to 460 is what I would like the most. which means, least likely to happen
284.
Post 6273761 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
My money finally cleared, I'm curious to know what you guys would do at this moment if you were in my shoes.
I was planning on just sitting this one out, I'm still paying interest on the money I borrowed to buy that last dip, but when we broke down below 400 on virtex I also broke down and tried to get some more money in.
That money has finally landed at the exchange. I was planning on using half to just buy whatever I could immediately and then set a tranche down to 300 with the rest, but I was also planning on the money arriving on Monday...
mostly just wondering what you guys would do right now.
285.
Post 6274139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
My money finally cleared, I'm curious to know what you guys would do at this moment if you were in my shoes.
I was planning on just sitting this one out, I'm still paying interest on the money I borrowed to buy that last dip, but when we broke down below 400 on virtex I also broke down and tried to get some money in.
That money has finally landed at the exchange. I was planning on using half to just buy whatever I could immediately and then set a tranche down to 300 with the rest, but I was also planning on the money arriving on Monday...
mostly just wondering what you guys would do right now.
The first rule of Bitcoin is we don't invest more than we can afford to lose!
Call me lucky, I got a few coins just above 400 on the cavertex dip last week and my second deposit cleared the following Monday.
I haven't sold yet, and my seconds deposit will be used to support the $350 if we trend down, and buy in at 660 if we are trending up after 30 days.
If you want my advice and I'd calculate the cost of the having money on the exchange for the next 4 months then write it off. Then I'd play it safe on trading swings where you are comfortable.
A bubble could form within a month or two, or if trade volume subsides we maybe as long as 6-12 months. I've invested a little of that cheep coin in alt, and think we may have growth there before we see it a boom in Bitcoin. (the "smart" money is sounding too confident in my view to see an early boom, I think it is the big of exchange hoarders who are the ones who have to release some liquidity before we drink Campaign)
Thanks dude. I always adhere strictly to the first rule, but it does
bear repeating
286.
Post 6274235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
Thanks dude. I always adhere strictly to the first rule, but it does
bear repeating
I read the word "borrowed" to invest in bitcoin which i don't yet have enough confidence to do.
yes, I understand completely, and it's not something I would recommend to anyone.
I think it was Christmas of 2011 when I first borrowed against the unsecured line of credit my bank gave me to buy some 7970's. I've since become addicted to having that access to instant liquidity, and just like my other addictions like beer and cigarettes, I simply write that money off to the cost of my own stupidity.
287.
Post 6274887 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
Do you guys have an estimate on whats the price of BTC in the next 6 months?
over 1000, but my estimate means nothing.
288.
Post 6275322 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
Thanks dude. I always adhere strictly to the first rule, but it does
bear repeating
I read the word "borrowed" to invest in bitcoin which i don't yet have enough confidence to do.
yes, I understand completely, and it's not something I would recommend to anyone.
I think it was Christmas of 2011 when I first borrowed against the unsecured line of credit my bank gave me to buy some 7970's. I've since become addicted to having that access to instant liquidity, and just like my other addictions like beer and cigarettes, I simply write that money off to the cost of my own stupidity.
7970 is a kind of mining rig, correct?
No, it's a video card. If so, did it pay for itself,
yes. and for how long were you able to use it?
I'm still using it, but not for mining anymore, it still kicks some serious ass when it comes to video games though. Did you have to retire it?
no. Were you able to sell it to recoup some money, too?
I will never sell this thing! It will be put in a museum some day!My answers in
RED
289.
Post 6275509 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
<snip>
Shmadz does NOT strike me as the saving type, but possibly he is?
nope. you got me pegged, definitely NOT the saving type
I mined a bunch of different coins, and have almost none left. Luckily, if things go the way I hope they are gonna go, then "almost none" will be "just enough".
290.
Post 6275768 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
Thanks dude. I always adhere strictly to the first rule, but it does
bear repeating
I read the word "borrowed" to invest in bitcoin which i don't yet have enough confidence to do.
yes, I understand completely, and it's not something I would recommend to anyone.
I think it was Christmas of 2011 when I first borrowed against the unsecured line of credit my bank gave me to buy some 7970's. I've since become addicted to having that access to instant liquidity, and just like my other addictions like beer and cigarettes, I simply write that money off to the cost of my own stupidity.
7970 is a kind of mining rig, correct?
No, it's a video card. If so, did it pay for itself,
yes. and for how long were you able to use it?
I'm still using it, but not for mining anymore, it still kicks some serious ass when it comes to video games though. Did you have to retire it?
no. Were you able to sell it to recoup some money, too?
I will never sell this thing! It will be put in a museum some day!My answers in
RED Thanks... for your responses.
I agree that you get even a bigger bonus out of your purchase of the item (the 7970) if you are able to multi-purpose it.
yup, it's pretty cool, all 4 can still play video games just fine, but only 1 out of those 4 can still mine at more than 80% load.
(that one good card was still doing about 120% above spec before I simply gave up mining on scrypt - not enough amps left to feed the SHA-256 asics, though I am tempted by the scrypt asics, I think that one chain will always be considered stronger than all the others, and anything serious will be built as a sidechain of the main chain.)
291.
Post 6332271 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
As always, media prefer to report sick things done by 0.0000001% of the population, rather than the good done by a ridiculously bigger number. For every article like this one, there should be thousands about the potential contributions of cryptocurrencies to a global economy, about the millions of dollars given to charity by communities related to cryptos, and about how cryptocurrencies are currently teaching so much about economy to all those who take the time to read about them, and making a whole generation rethink what was almost unquestionned about fiat currencies.
How perverted they are.
well said.
sadly i expect more and more of this stuff to show up the bigger the threat of bitcoin grows for existing structures.
populism has always been the best instrument to move the masses.
the old paradigm will not go down without a fight.
interesting times indeed.
*edit* I should have said "the
ancient paradigm"
This shit has been going on for thousands of years.
292.
Post 6333062 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
we are lacking sufficient buy support for a strong rally ATM though. It's weird though how all the buys just come out of the wood works when prices start climbing. I know there is a lot of cash waiting on the sidelines, but it is truly amazing how quickly it all floods in...
ahh, keithers, I think I remember you from the ole days, but now my memories are fading,
one thing seems consistent, that cash on the sidelines always seems to flood in when you're least expecting it...
293.
Post 6347244 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
Are we headed for a retest of 472.50? Is a second rejection of that price level what we're waiting for? Do we need a double inverted head and shoulders at this level?
wall is gone on bitfinex..... surprise surprise...
Are you ready for the drop? Then drop it!
https://www.youtube.com/watch?v=WDB0HD4J2Ec
294.
Post 6348038 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.39h):
We have a new 3-day low. That's not so bullish. Unfortunate.
Im not sure what you mean by that, yesterday we visited 486 on stamp, not seen that again. BTC china is in a contracting range/wedge. The bullrun is losing momentum but the bias is not bearish.
You answered yourself with your last sentence. If we can make a new 3-day low once, we can make it again pretty easily. The next major line of support is at 472.50. If we breach that we're in bear territory, with the next major supports at 454, 400, and 355.50. If we bounce off 472.50 and break above 515, that would be a pretty good bull sign.
Between 472.50 and 515 is no-man's land.
We float with no conviction in either direction.
"They float, they all float."
http://youtu.be/ZKc6bHkczgU?t=26m
295.
Post 6383115 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
My crystal ball says it's buying time. And dump at 505 before a whale dumps and takes us down again. Which is pretty much guaranteed to happen
I'm sorry for stopping this rally everyone. I didn't realize i had so much influence on the market. I'll be more careful with what i'm saying in the future.
Credit where credit is due.
I missed my buy target weeks ago and I've been hoping for a return to the sub-450 level again.
Would you be so bold as to predict the next buy in point?
296.
Post 6383607 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
In the meantime, classic accumulation happening at Second Market. They have some 105 000 BTC already.
This thing is going to blow up our minds when it explodes. And it might be soon, this looks to me like 140s last summer.
You mean like before the 266 spike right?
I'm getting the same feeling.
It's the blockchain heartbeat, bublub bublub...
first spike june this year to 5000, fall back to 3000 until october, and then a moon ride to 20,000 starting in october, and possibly escape velocity and no looking back.
297.
Post 6383718 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
May all your bids be eaten
Cannonballlllll!!!!!!!!!
298.
Post 6383733 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
Gox dump
Yeah, I was kinda surprised not seeing more discussion about that ruling that mtgox would be liquidated.
299.
Post 6383846 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
whenever I get bullish same shit happens last few weeks
no worries dude,
just relax and "let your backbone slide"
https://www.youtube.com/watch?v=6BxUUjSpuq0
300.
Post 6384001 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
someone wanna tell Canada about this dump?
I want my bids eaten too ya know!
301.
Post 6384079 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
bring it on, my bids are waiting. below 300? I have lost my appetite.
302.
Post 6384155 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
303.
Post 6384323 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
F***ing bloodbath.
woot!
blood on the streets is what we're looking for right?
this is looking gorgeous on every exchange
except cavirtex
stupid Adam convinced all those silly Canadians to HODL! Damn you Adam!!!
jk
304.
Post 6384337 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
And the idiots on stamp just keep on dumping. They have no clue what's going on but dump they must.
hey, now,
in their defense...
when you gotta dump, you gotta dump.
305.
Post 6384462 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
here's a question,
why doesn't this get more play around here?
http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,
I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.
306.
Post 6385064 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
here's a question,
why doesn't this get more play around here?
http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,
I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.
Not that it is much of my business, but...
...why is there no discussion anywhere that the BTC given to Mt.Gox for safekeeping are
not that company's assets, nor loans to it? They belong to the customers as customer property (or customer funds). In liquidation, the customer property is returned to its owner and not commingled with company assets nor used to pay its lawyers. If the guardian has failed with safekeeping so that a part of the property is stolen, the loss should be prorated, especially if there is no mention in TOS.
Actually it is my business (point: III). I decided to mention this once in every 500 posts.
I agree with your interpretation of how the remaining assets of gox
should be handled.
Unfortunately for the holders, my *limited* understanding of japan's bankruptcy protocols, they will first liquidate all holdings into a common asset (most likely japanese yen) and then distribute from there... It may take many years. Such is the pace of the legacy system.
Just an example how regulation only makes things worse.
this fight is only starting...
307.
Post 6399435 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
here's a question for you guys.
if china had never even let those exchanges start up in the first place, would the price be higher today? or lower?
308.
Post 6399851 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
The only people buying now are people who sold higher. Look at the volume. Volume tells the story. We are very likely just at a consolidation stage on a trip back down. Don't get caught on the wrong side of the is/ought divide. China matters until it doesn't. Just because prices are stupid low doesn't mean they can't get stupider lower. Markets can stay irrational longer than you can stay solvent if you don't manage your capital wisely.
There are silver linings. The good news is that the FBI will probably not get much for their coins. When the Chinese people will discover in a year or two from now how badly the PBoC and their government screwed them out of a leadership roll in crypto, it may do more to foment revolution than Tienanmen Square.
Be smart. Be patient, and be in a position to scoop up bargains should they materialize.
You are basically advocating the following:
* Some guy on the street is selling a $100 note (guaranteed to be non-counterfeit) for $10
* You tell your friend who wants to buy: No don't buy it. He might sell it for $5 if we wait a little bit!
And then if the friend buys it anyway and the man is indeed selling the $100 bill for $5 the next day you mock him.
It's not really relevant price can go lower (unless you use margin)
Interesting point!
I don't know about that, price is still relevant. he coulda bought twice as much if he had waited a day like his friend said.
The price might have gone the other way and if he waited he could have only bought half as much...
I think the price is always somewhat relevant.
309.
Post 6399952 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
are we gonna get another drop? 2 nights in a row!?
sweeeeeet.
310.
Post 6400196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
How low do you guys think stamp would follow Huobi? I would speculate after about 350 people might stop.
hell, virtex is still trading at 525-500.. and I'm thinking about cancelling a bid at 300 to put one in at 505.....
scary
311.
Post 6400525 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.40h):
Someones putting up a wall on Stamp, everyone is buying in front of it and then its getting pulled. Like three times now.
No there is someone putting limit orders well above the lowest selling price. The walls eats all the lowest asks until it has been filled.
And they are instantly removing them after placing them and the price running up abit in front. Its very weird.
almost seems like someone is trying to test the tendencies of the other bots...
312.
Post 6433236 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
Sad to see what has happened to your mind, Jorge.
Indeed. Like the other day when I suggested that stealing bitcoins by address spoofing would be a problem unique to bitcoin.
That's not how exchanges work. It's also about 1000x more complicated and risky and public than it needs to be to accomplish the supposed ends of this unworkable scheme.
There are many other ways to pay a bribe of course. But suppose that person A in Shangai needs to transfer 250'000 yuan (say = 100 BTC = 40'000 USD) to person B in Beijing without the payment being spotted by the police. Any scheme that requires complicity a third person is risky because he could be an informant or a blackmailer.
Can he use bitcoin exchanges for that purpose, without leaving a trail? Transfers of bitcoins are visible on the blockchain, so A cannot just buy bitcoins on an exchange, withdraw them, and transfer them to B: the conversions of BTC from/to yuan would be in the exchange's deposit/withdraw logs, they would connect to the blockchain transfers to trace the path. But if there were a way to transfer the yuan from A to B while they are inside the exchange, then...
Try to imagine a scenario where bitcoin is accepted world-wide, where you never need to go through an exchange into fiat.
Then you understand the potential of bitcoin, and the danger it poses to the status quo.
313.
Post 6447677 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
The 30 min chart on Stamp is looking like a downward red staircase today...as much as I like cheap coins, I am anxious for a turnaround.
zoom out to the 6hr chart. To me it just looks like a series of lower highs and lower lows since January. And I see no signs of a turnaround any time soon. (not that bitcoin needs a reason).
From that chart it looks to me like we would at least need to re-test the 330-340 range on stamp before seriously turning around.
by the way, does anyone know the price that the Winklebros bought in at?
*EDIT* I drew some lines
314.
Post 6449160 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
if they sold 380,000 btc for 3m, that would be $12 each. - must be a portion, or Im missing out on some seriously 'cheap coins'
Well it's unlikely that they will sell 380,000BTC for the full $173M they are worth. Someone will get cheap coins
Bitcoins are fungible, so even if they don't get dumped on the market, other coins that would have otherwise gone to the purchasers of the seized coins will get dumped on the market. Mathematically it is irrelevant if the result is selling pressure or lack of buying pressure. There is a downward price effect on the market either way.
+1 Same goes for 200,000 Gox BTCs to be liquidated.
And US goverment has now more than 500,000 BTC ?!? 30+k from Silk Road, 130+ personal Ullbricht stash plus 385k from this new drug dealer?
This. The amount of seized BTC that has to be auctioned and dumped on the market is so high... At least 400K (GOX+Silk+others), if not more, probably sold well under $250 for each coin, ready to be dumped on the market at any point. Truth is, even a relatively small 20K dump could totally crash BTC's value to $50/coin.
I could literally wake up one day and see BTC's value drop 50%. This will kill BTC's long term value, seriously scary stuffbold emphasis mine
I don't think that the redistribution of a paltry 400,000 coins will "kill" bitoin's long term value.
just another bump in the road
(edit - ok "paltry" was a bad choice of words, what I should have said is "the redistribution of coins from the people that want to sell to the people that want to buy will not "kill" bitcoin. In fact, it is a good thing.")
315.
Post 6467831 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
while I wish for the price to go lower, I fear that ideas are infectious.
https://www.youtube.com/watch?v=gC4j-V585UgI thought this transparency of money argument is compelling. just wanted to share.
316.
Post 6467899 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january.
Is there
any genuine short-term bull case, besides rockets and slogans ?
I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that.
I'll be needing some Bull rehab after this is done.
The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area.
Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future.
agreed. you think this MIT thing is gonna flop as bad as auroracoin?
http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one)
It's what I would do, back when I was in school
:edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens.
317.
Post 6484342 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.41h):
take it all with a grain of salt of course, but if the price keeps doing what historically it's been doing, then it's a pretty solid plan.
I plan on taking my second divesting at the 5000+ range, perhaps 4 or 5 coins to get a new car...
(I choose to consider the coins I sold above 1K as my "first divesting". I purposefully ignore all the coins I sold from 10 to 200 because those kind of mistakes just eat you up inside.
318.
Post 6517672 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
the key is when both (patience and attitude) are in harmony.
319.
Post 6517684 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
I actually like the poll going on right now...some of the terms are so fitting for the differences in attitudes rolling through this forum on a daily basis
I like the poll too!
who is the other guy that picked "relief"?
:edit: I almost refused to take part because "serenity" was not available, but I just took the next closest answer.
320.
Post 6517861 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
who is the other guy that picked "relief"?
:edit: I almost refused to take part because "serenity" was not available, but I just took the next closest answer.
I picked "thrill" at random, because there was no "impatience".
Hi Prof!
impatience would have been an interesting option.
personally I have been starting to think that we are still very far away (like 2 years - that's earth years, not bitcoin years which means 2 months) from seeing any kind of "mass-adoption"
as such, I think that many people with a voice in the public bitcoin space should just cool it down a bit.
I think that people should concentrate
less on how to attract the masses and
more about how to handle the masses when the flood gates open.
I think people are a little caught up in what is
possible and perhaps ignoring what is
practical.the practical side of bitcoin is in need of much work, I'm afraid.
321.
Post 6526103 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
Either that or we have already broken out to the upside. Just need volume for confirmation.
or it proves, that these line mean nothing.
sometimes it is true that the lines indeed mean nothing.
other times, if skillfully drawn, they can provide insight and guidance.
ignore the patterns at your own peril.
*edit* I do not mean to say that the above lines were drawn skillfully. I actually prefer my lines that I drew a few days ago, completely unskillfully.
my point is, that lines do exist, and until they are broken they tell a certain story. once they are broken they might tell a different tale, but one which is also worth listening to.
322.
Post 6526385 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
Never understood this lines but I drawed one from the sight of an optimist
this is actually exactly what I was talking about.
that line shows the absolute bottom for price, during the depicted time-frame.
if this line is broken, then the story changes.
323.
Post 6526707 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
that s what a trendline is, just a point of view, if you could draw all of them on a chart well they would all look good, because people are following them, it s like driving on roads and following signs. everyone agrees they are good to follow so everyone gets where they want.
well said, mighty jol
I'd like to add:
it's like the apparent hard bottom at 400. it's just an arbitrary number, but there appears to be a large amount of support at that level. Does support show up at that level organically? possibly, for the first time.
the second, third, forth times... likely are bolstered by people that like to read lines.
when the lines are false (probably a 50% occurrence) or even when they're true, they will be broken. the great benefit that they can provide is that they might leak a sneak preview into what might happen when the trendline is broken.
the lines cannot predict the price, they can only help
you to predict the price.
324.
Post 6526930 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
I told you few days ago, that bitstamp is going to be closed due to some illegal activities. That wasnt just a rumor;)
Please, enlighten us.
as far as my sources teold me. Bitstamp is involved is some illegal activity, presumably some paedophile groups use bitstamp to exchange money. That is why bitstamp is going to be closed for investigation etc next week or so.
obvious fud is obvious.
yup, and it doesn't even matter that it's false.
they will use this kind of stuff to put up a scare shield and use fear to try to implement regulation of bitcoin.
bumpy roads ahead
325.
Post 6562358 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
Jay, my friend, you have an incredible knack for using a lot of words to say nothing.
326.
Post 6562479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
So now it's "degrading" to use the word cultist for, well, cult like behavior? I don't think so. As for the numbers, I don't have hard data, and I cannot have data because what I would call "cultish" is hardly a set-in-stone definition, but to give a few examples:
Fanaticism != Cultism
just as bitcoin is both a currency and a commodity, both a payment platform and a binding record of account,
bitcoin proponents are both fanatics and cultists, both bitcoin nutters as well as bitcoin savants.
327.
Post 6562608 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
still waiting for this "big drop" that everyones predicting wishing for
Yup, any minute now, right guys?
I love that picture!
The bulls are waiting for it to go up, bears are waiting for it to go down.
The cat is just waiting for something to move so it can pounce.
328.
Post 6564739 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.42h):
still waiting for this "big drop" that everyones predicting wishing for
Yup, any minute now, right guys?
is it time yet?
329.
Post 6579558 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
"fee fraud"... big words, huh?
Fact is, I knew about it, but it doesn't affect me more than for just a few cents (despite large volume), because I don't trade with bots or by splitting up a large trade into many small ones.
I can see how it would affect two types of traders: those that use bots to make many very small trades, and the example from the thread, of putting up a large order, and then having someone else "nibble" at it, thus driving up the relative fees.
Not ideal, but I have to ask:
how do you prefer it to work otherwise? Rounding to a full cent seems reasonable, so the only solution I can see it calculating the x% fee they advertise over some time span's volume, as opposed to the volume of each (tiny) trade, which is then rounded up to a cent. I can see how Bitstamp would consider that an unnecessary effort to save some traders a few cent.
In either case, and in the spirit of choosing your words super carefully in here (remember kids, there are Bitcoin /fanatics/ in here, not /cultists/), the term "fraud" is entirely misplaced.
emphasis mine.
This is a dirty, underhanded way of calculating fees. the fees that market maker is charged should not be determined by the market takers.
How would I prefer it to work? Just look at CaVirtex as an example. when you place the order, you pay a fee. both the fee and the order are placed in escrow until the order is filled. if you cancel your order, both the amount of the order plus the fee are refunded to your account. - simple system, easy accounting.
Hopefully this is just a bad implementation of their processes, but it is a very shady set-up regardless of how it came about.
330.
Post 6601170 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
next time it dips i'm buying more.
nice adam! did you catch any of that 450 on virtex yesterday?
I had a little chunk waiting there, with many more down below.
When I got the email from the first nibble, I was all like sitting back and waiting for the rest of my orders to be filled...
... I'm still waiting...
too greedy? maybe, but I am tired of chasing the price.
From now on, I will let the price come to me.
331.
Post 6601288 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
next time it dips i'm buying more.
nice adam! did you catch any of that 450 on virtex yesterday?
I had a little chunk waiting there, with many more down below.
When I got the email from the first nibble, I was all like sitting back and waiting for the rest of my orders to be filled...
... I'm still waiting...
too greedy? maybe, but I am tired of chasing the price.
From now on, I will let the price come to me.
I had bought a few at 470 the other week, when i saw 450 I decided it was better to wait for lower lows.
anything below 500 CAD I consider a pretty good price, my buy orders become increasingly dense in the 450-400 zone. I have some hail-mary's out there in the sub-400's but I don't really expect those to be filled.
332.
Post 6601474 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
Will we witness the beginning of the end tonight?
Chinese have to eject somehow. Who makes the first move:)
was that it? first move to bitstamp??
333.
Post 6601494 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
market kinda over reacting....
yeah, everywhere except here, still 485 on virtex
334.
Post 6601611 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
love, how china don't give a shit
I would love to see china go straight up right now, just a wonderful "wtf?" type moment.
335.
Post 6602746 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
I don't think bears are overestimating the lack of fresh fiat going to the markets. There has been no indication of any.
I don't think bears are overestimating the impact of the Chinese regulations or the long term problems with the exchanges not being honest about what is really going on.
If anything, the bears could be wrong about how stubborn bitcoin owners are about holding onto their coins - both those who buy on exchanges and those who mine.
Although, eventually, miners credit card bills are going to come due.
But the lack of selling and the lack of new coins to exchanges seems ridiculously high at the moment.
Its as if nothing can bring real despair to this market. It constantly high on hopium.
I think we literally might flatline for months. Which is a the worst possible scenario for someone like me.
I'm afraid you might be right,
as soon as we started to drop from the 800 range, I thought this might be like 2012, just a long drawn-out nothing.
.. until eventually.. .. ..something!
336.
Post 6603080 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
that is the long term bottom line that I see. (CAD/BTC)
I have no idea if it will be final support, if it may be broken? (but I don't think so)
anyways, I think each of you are on an exchange that shows a similar support level. when prices drop to that level, I buy, otherwise, I wait.
if this is the end of low prices, so be it. it's not the end of the world.
if prices smash down through this bottom line, so be it, it's not the end of the world...
everybody just relax and remember that we are all one.
https://www.youtube.com/watch?v=zaGUr6wzyT8:edit 2 to fix chart for better lines:
337.
Post 6642405 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
The more you try to damage an anti-fragile system, the stronger it becomes.
-you can quote me on that
*edit* I love how you can't change your avatar, even if you wanted to. It's so draconian.
338.
Post 6642861 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
Bitcoin is a symbol, a metaphor, a belief
That we are growing beyond the need for government, we have learnt that we can govern ourselves.
This thought, understanding, realization is only now propagating through the global consciousness.
China's firewall can slow this progress but it cannot stop it.
I choose to go to the MOON!
I love Canadians. They're so idealistic.
perhaps even charmingly naive.
339.
Post 6642985 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
Bitcoin is a symbol, a metaphor, a belief
That we are growing beyond the need for government, we have learnt that we can govern ourselves.
This thought, understanding, realization is only now propagating through the global consciousness.
China's firewall can slow this progress but it cannot stop it.
I choose to go to the MOON!
I'm confused. On one hand the bulls argue for bitcoin to be this free renegade anarchist currency. Then on the other hand, the same bulls are all about getting wall street involved, government invovled, regulations, oversight, aml/kyc, and paper-traded etfs. etc. I guess whatever concept provokes the most price increase in the context of the topic at hand is the right one to use for them.
personally I've grown a bit jaded lately. I cringe now when I hear people trying to pimp bitcoin on the masses. I don't think the masses are ready for bitcoin, and vice-versa.
I do not like the path we seem to be taking with all the regulation and stuff, but if it gains enough acceptance, within the mainstream (politicians now accepting donations in bitcoin) -- this might allow for a blockchain-like accounting scheme for government programs.
Even if that is the only thing we get out of this, I would consider Satoshi's experiment a success.
340.
Post 6643175 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts. Everything is about raising the price and to-da-moon and deep down they just care about fiat.
Hey now, I said I was getting a bit jaded, but that's downright apocalyptic.
you might be right about bitcoin, but I think the blockchain idea is out of the bag now, and once public and charitable organizations begin to realize the benefits of being able to be completely transparent in their finances, I hope that they will see the advantage of that and this idea of accountable money will begin to take hold.
341.
Post 6643235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
Prediction, in 3 years all the wealth in the world will belong to the Chinese bitcoin miners.
come on now prof, that's hardly an academic study. I know you just post here for the funzies, but I could predict that in the next 3 years half the global population could be wiped out and I think my prediction might actually be more likely than yours...
342.
Post 6643566 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
Does anyone really expect chinese exchanges to adhere to their joint statement?
in that they refuse to go to bitcoin-promoting conference? In that they cease and desist any kind of overt bitcoin promotion?
yes.
343.
Post 6643641 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts. Everything is about raising the price and to-da-moon and deep down they just care about fiat.
The success of bitcoin as an investment is inextricably bound up with its addition of social value as a political instrument.
Personally I think bitcoin has turned into social and political poison, but will be no less successful as an investment for all that. There will be some good that comes of it -- after all, *some* people *should* drink poison -- but most of that burden will fall upon a successor which is actually and persistently decentralized and anonymous.
And again, when that successor arises, its success in fulfilling those hopes will be inextricably bound up with its success as an investment.
If a job opens up reading the inscription over the gates of hell to any blind persons being admitted, I will certainly recommend TERA to the position.
hello animorex, so glad you dropped by,
a question/observation if I may.
bitcoin architecture is - from the ground up - not so good for anonymous, but great for transparency. I can foresee a future where a decentralized, distributed,
public record of
public funds would have some demand and therefore some value in this world.
your comments or ideas on that thought are much appreciated...
344.
Post 6643834 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
I can foresee a future where a decentralized, distributed, public record of public funds would have some demand and therefore some value in this world.
If you don't want public funds embezzled, require that all government spending be on-chain. Anyone who actually wants democratic accountability should be all over that. If your political opponent objects, well then, prima facie, he is corrupt.
If you want elected officials to be accountable for the source of their financial support, require that political donations be on-chain.
If you want assurance that taxes are paid, require that all taxable transactions occur on-chain, and all tax payments be made on-chain.
that is
exactly what I want.
everyone should be pushing for this, demand this from your elected officials.
it's not excessive, it's morally right.
345.
Post 6643983 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
I'm afraid to ask, but, what happens in wave #6?
346.
Post 6644053 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
I'm afraid to ask, but, what happens in wave #6?
TERA contemplates covering his short
I buy
U HODL!!!!!!!!!
I fear the vertical move. I feel it is coming, but I don't know when.
I get the feeling that when this downtrend breaks to the upside, it might be a violent move.
347.
Post 6644166 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
<snip>
Just asking - seriously - does it not concern anyone that the markets are following an exchange whose CEO recently said in an interview they are looking at options either to move offshore and/or separate themselves COMPLETELY from receiving fiat deposits? A CEO that has apparently stopped leveraged trading and will impose restrictions and fees on HFT in response to a banking system that we know is slowly but surely tightening it noose around all deposit options?
THIS ^^^ is what we are hanging this new "bull market" on?
Look, I want BTC to be worth 10K+ as much as anyone here, but how in the world are the current state of affairs bullish?
the actions of off-shore exchanges is a little-bit concerning, but for some countries, they have established bitcoin exchange for almost 3 years now, not many countries, but still... at least in Canada they have an exchange that is actively able to deposit and debit your bank account directly to and from the exchange and then into or out of whatever currency you like from there.
the limitations for virtex are that you limit your transactions to CAD-only, and that you transact with only Canadian residents.
it limits the chance for fraud greatly, as this method greatly limits the anonymity of the perpetrators of deceit.
(*until it is revealed that virtex has been running a fractional reserve system all these years, in which case, we're screwed.*)
**edit** I think the truly trustless systems are at least 2 years into the future.
348.
Post 6644721 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
... to the sun?
But, soft! what light through yonder window breaks?
It is the east, and Bitcoin is the sun.
Arise, fair sun, and kill the envious moon,
Who is already sick and pale with grief,
That thou her maid art far more fair than she:
Be not her maid, since she is envious;
Her fiat livery is but sick and green
And none but fools do wear it; cast it off.
alright, it's official. dogecoin can go to the moon, litecoin too, but
bitcoin is going to the sun!I actually
like the metaphor (not sure that's the right term) of bitcoin = sun.
bitcoin = sun = light = out in the open = no secrets done under cover of darkness
*paraphrasing* "for the world is generally opposed to secret societies which can only do their business under cover of darkness"
-
*I think i remember some guy saying something like that once upon a time.*bitcoin is the eternal sun shining upon any and all transactions that the transactors wish to be made public.
349.
Post 6644864 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
If you don't want public funds embezzled, require that all government spending be on-chain. Anyone who actually wants democratic accountability should be all over that. If your political opponent objects, well then, prima facie, he is corrupt.
If you want elected officials to be accountable for the source of their financial support, require that political donations be on-chain.
If you want assurance that taxes are paid, require that all taxable transactions occur on-chain, and all tax payments be made on-chain.
The Department of Defense [sic] would not have been unable to account for those 2.3 trillion USD reported mislaid on 10 Sept 2001, if those transactions had been on-chain, and events which ensued as a consequence would not have derived.
That is terribly naive, @aminorex.
In many democratic countries, the law already requires that all government spending be properly accounted and made available to the public. Even in my own. But embezzling of public funds is never so trivial as a public officer writing a check to himself. The most common and efficient method is overbudgeting some large project and then having the contractor deposit a kickback in some offshore account. (Last year the 3 past Governors of the State of São Paulo, all of the same opposition party, were found to have received several hundred million dollars in kickbacks from Alstom and Siemens, from contracts for the São Paulo metro. Then, to counteract that bad news, the opposition found that an executive in the oil company Petrobrás, controlled by the federal government, bought a refinery in Pasadena that was good only for scrap, and apparently got a fat kickback on that. And those are only two of literally thousands of similar cases, at all levels of government.) There other methods too (like, internet gawkers found last year that an apartment in Miami was sold for US$ 10 to a Brazilian Supreme Court judge), but all are of course designed to not show up in the public spending records.
Ditto for political donations, taxable transactions, etc.. The law requires that they be declared, but of course people who violate donation and tax laws violate the reporting laws too. The same would happen if the law required all such transactions to be made in bitcoin -- those willing to make illegal payments would not use bitcoin, or would use accounts that cannot be connected to them.
As for the military/CIA/NSA/FBI/etc., they would surely get exemptions from a "blockchain law" for national security reasons, with broad public support -- just as they now get exemptions from FOIA and external supervision.
It is a mistake that tech people make time and time again: to believe that a social/political problem can be solved by technology alone. Without a social/political change, a technological "solution" will always be blocked, or co-opted and turned into part of the problem. Bitcoin will not stop the banks from running the world; only an energic and lasting political effort could do that.
dude, when the RFC's (request for contract up here in canuckistan) and the bid proposals for public projects are made in transparent terms, then at least we can only blame ourselves.
I think that's all we're really asking for.
*edit to address this part - "Bitcoin will not stop the banks from running the world; only an energic and lasting political effort could do that."
Bitcoin may indeed be the catalyst for the energetic and lasting political effort that I think we would all like to see.
350.
Post 6645047 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.43h):
alright, it's official. dogecoin can go to the moon, litecoin too, but bitcoin is going to the sun!
I am strapping on new wax wings as we speak. Unfortunately they keep melting every time bitcoin flies too high.
just because the wax melts, do you throw away the design of the wing?
351.
Post 6645131 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
alright, it's official. dogecoin can go to the moon, litecoin too, but bitcoin is going to the sun!
I am strapping on new wax wings as we speak. Unfortunately they keep melting every time bitcoin flies too high.
just because the wax melts, do you throw away the design of the wing?
If it is good enough for Icarus it's good enough for me. It is way more fun to shoot at the sun with fresh wax wings every six months than it would be to slowly climb the long term trend.
Not sure that flying too close to the sun is the best metaphor to sell an emerging technology though.
what I'm trying to say is that Satoshi already designed the wing. all we need to do is develop the wax that lets the wing fly.
as for the sun...
http://youtu.be/czNxV8wZSnc?t=1m35s
352.
Post 6645692 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
CCMF
finally, a voice of reason.
353.
Post 6645908 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
finally, a voice of reason.
Hmm. Id prefer you not project all that on me. But I have never posted a train picture before. I wonder if anyone besides me sees why this is a good day to post one?
apologies. not trying to project anything.
anyone besides you? well I can only talk for me.
/// personally I just removed my lowest bid on the tranche to replace the bids that got eaten on the last dip..
I am hopeful that the price will go lower, and fearful that it might not.
354.
Post 6646180 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
That is terribly naive, @aminorex.
when, in this corrupt world, has any improvement ever been obtained except by a robust, educated, diligent and sacrificial naivete?
I can agree with that. But putting one's hopes on a technological "deus ex machina" is weak and lazy naiveté, not robust and diligent naiveté...
It may represent a "deus ex machina" to you but to others it represents, at the very least, a strong chance at achieving a profound paradigm shift.
If people would just begin to understand the current system of currency, its issuance and its control, --
I think bitcoin might be able to put that tickle into their brains where they at least start to
think about it.
355.
Post 6646281 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
Another advantage of Second Market is that you do not need to worry about safe storage, private keys, exchanges being hacked or being scammers etc - although of course Second Market charges you a lot of $$$ for that. Perhaps even more importantly, you can be very technology naive, never have bit coin wallet etc
What is so difficult about a safe bitcoin wallet? All you have to do is write down your key somewhere, put it in some encrypted file, or remember some way to hash out your key or hash out a brainwallet password. Anyone putting a serious amount of money into bitcoin should have the time to figure out how to do this. Meanwhile, if you invest with SecondMarket, you take the extra unneccessary RISKS of your funds being stolen by SecondMarket, seized by the government, lost to bankruptcy, lost to hackers, etc. and you can't even use your coins anywhere.
the problem is that the rich people that we're trying to steal the money (power) from are much stupider than you give them credit for.
this will take some time.
356.
Post 6715760 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
God damnit btc, stop procrastinating this drop; just get it over with.
ahh, but when you get old and you look back on this whole bitcoin thing, you will realize that anticipation was the best part.
357.
Post 6734106 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
Ebay is big news. How many other retailers will jump on board after that endorsement?. That combined with the wave of atms, new exchanges, investment funds, investment into bitcoin business, etc. will make a big wave soon. It's only a matter of time.
Where's the news here? He said fuck all new from what he said year ago.
but he said it again!
buy this rumor
buy more when poeple sell the news.
Thanks Adam, you always give the best advice
also, guess who wisdom added?
https://bitcoinwisdom.com/markets/vos/btccad
358.
Post 6735517 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
I own more BTC than 99.9% of the world population combined. Of course I am feeling lucky!
Well,
I am still doubling my BTC holdings every day since December. Beat that!
That's impossible if you started out with any satoshis. Even starting with 1 satoshi, after one month, you would have more than 1 BTC. After 2 months, you would have more than 100million bitcoins, which is far more than the supply ever to be made, unless you were dealing with gox coins, which are magical. The magic of compounding interest is truly amazing!!!!
Thanks Jay, as soon as I saw that post I was gonna try to do the math to call him out on his absolute bullshit, but then I realized it wasn't worth my time.
also thanks for using NOT one annoying quirk in that entire post.
359.
Post 6735814 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
That's impossible if you started out with any satoshis. Even starting with 1 satoshi, after one month, you would have more than 1 BTC. After 2 months, you would have more than 100million bitcoins, which is far more than the supply ever to be made, unless you were dealing with gox coins, which are magical. The magic of compounding interest is truly amazing!!!!
Check my signature, again...
F'n
L I totally missed who actually wrote that post. my apologies prof, I mostly glaze over the names and look just at the content, especially if there is no avatar giveaway.
kudos. trolled me good
360.
Post 6735898 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
uh oh, looks like the ground is shaking... (huobi looks to be going up)
I really hope this is a bulltrap.
*edit* askwall coming down and flattening on huobi, probably false alarm, although if the 440 askwall at btc-e were to get eaten, things might get exciting.
361.
Post 6753834 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
CCMF!
where were you all this time ? you know it is CCMF when goat is back
It's certainly starting to feel like the weather is changing, I got tired of waiting for the rest of my tranche to get eaten so I removed the bid at 333 and bought some at 470 CAD this morning...
Still hoping for one last crash to 400 before liftoff, but I'm afraid we might not get the chance.
362.
Post 6754191 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
CCMF!
where were you all this time ? you know it is CCMF when goat is back
It's certainly starting to feel like the weather is changing, I got tired of waiting for the rest of my tranche to get eaten so I removed the bid at 333 and bought some at 470 CAD this morning...
Still hoping for one last crash to 400 before liftoff, but I'm afraid we might not get the chance.
A lot of payment processors coming on board ....starting to feel like "WINTER" is over
Time for the bears to go back into hibernation
me too! once this puppy pops to the upside, I am hibernating my coins until we hit at least 2000.
363.
Post 6754430 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
you know in 6 months time bitcoin usually is higher then it was 6 months ago.
Perhaps, but it was 20 months from june 2011 to february 2013.
this is the forgotten period of bitcoin history.
I listen to a lot of the bitcoin podcasts and stuff, and when they interview someone, they often ask "when did you first learn about bitcoin?"
The vast majority of the answers are either 2011, or 2013.
You never hear anyone say "oh, I heard about bitcoin in 2012 and I was instantly hooked"
(*note* the guys that were around from before 2011 are almost never asked this question)
364.
Post 6754806 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
Vampire Squids
http://youtu.be/XcGh1Dex4Yo?t=1h1m12squite good little show (you might want to skip the first 30 minutes or so of remedial stuff if you're already aware what's going on)
365.
Post 6755018 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
Thanks. I will check it out tomorrow.
you're welcome, and you should, it's from 2012 and I can't believe I hadn't seen it before now.
366.
Post 6755093 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
I was gonna say this at 2735 but had to go make me a BLT, but.. I think that was it...
Bid sums lookin too good on Huobi for any more dropping.
Huobi is notorious of suddenly waking you up from your low volume trance by violently smashing deep through everything you thought was a support and more and weeks of up candles are erased with a single down candle.
Huobi is awesome at that, and they can do it both ways, down, and up.
I'll be sad when (if?) they're gone.
(edit, actually I guess it was btcchina that did the up stuff, so perhaps amend the above statement as a
generalization of chinese exchanges.)
(second edit, hmm, why the other exchanges not following? are we finally reaching the bottom? I remember it took a long time before other exchanges stopped reacting to gox.)
367.
Post 6755218 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
I would really love to see some cascading, blood-red waterfalls right now.
It's probably my strongest personal indicator that it is not going to happen.
368.
Post 6755796 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.44h):
Chinese miners still gotta sell.
asicminer is in china, right?
I don't hear much about them anymore...
anyways, I gotta get some sleep, so at the risk of being spammy I'll drop this link one more time.
http://youtu.be/XcGh1Dex4Yo?t=1h14m39sgood night now!
369.
Post 6773695 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
banks have no problem buying bubblicious derivatives, lending money to poeple that are likely to default in < 12months.
wtf is this "risk profile" bullshit
no kidding
at least we're done with the "first they ignore you, then they ridicule you" phase, we are now entering the transition to the "then they fight you" phase.
still a lot of ridicule out there, and I think the fight will be long and bloody as well, but eventually we will reach the "win" phase.
if we can't win against the
vampire squids then I'll probably die trying.
370.
Post 6774018 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
banks have no problem buying bubblicious derivatives, lending money to poeple that are likely to default in < 12months.
wtf is this "risk profile" bullshit
It's called red-lining, and it's only illegal if you are in a protected class.
it's downright criminal is what it is
what exactly is a "protected class" anyways?
371.
Post 6774254 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Is it? What factor should one apply to those number to get the real cost?
You can't. You have throw away that number and compute a valid number. It costs about $2k to buy 1 ghps, which gives you a 1.3x10^-8 chance at every 25 btc block reward (one every 9 minutes). That difficulty increases 20% at each adjustment, every 12.8 days. Now calculate.
"now calculate" - hehe, yeah, right.
as a miner for 3 years now, I would say that my opinion of the "cost" of mining will closely correlate with the bitcoin price moving forward.
there will be significant lag, as there is a lot of sunk money in bitcoin mining, but my greatest hope would be the graph below:
credit to TERA for this nearly famous chart.
such a scenario would dampen mining in a profound way. we really had a great push when asics were first realized, and then implemented, and now they have been executed.
Now we are reaching the boundaries of what is currently possible. The physical boundary of heat is IMO the biggest barrier at this time.
Until the next "quantum leap" in computing, mining bitcoin is going to get quite boring. (it already pretty much is)
altcoins keep it fun, kinda, and I can see the real innovation in trying to find new super-secure, energy-efficient, wipes-your-ass-for-you types of encryption.
the only problem is that with 5 years of accounting records behind it, bitcoin has a large incentive to stick around...
... sorry, I started out trying to pick a fight and now I don't even remember what I was mad about. isn't the internet great?
372.
Post 6774642 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
banks have no problem buying bubblicious derivatives, lending money to poeple that are likely to default in < 12months.
wtf is this "risk profile" bullshit
It's called red-lining, and it's only illegal if you are in a protected class.
it's downright criminal is what it is
what exactly is a "protected class" anyways?
Democrat voters.
thank you for your answer, but apparently you miss-took me for someone
intelligent educated.
could you please explain or elaborate?
perhaps you mean that the voting class has some kind of protection from the ruling class? I just don't get it.
373.
Post 6782493 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
so many bears
so many bulls in bear disguise
I fear this is the case, and the remainder of my bids will go untouched.
we need less of this
and more of this
RAWR!!!
just one more drop before we take off, that's all I ask.
374.
Post 6782771 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
What are the 5 last things you paid for with BTC (without converting it to USD before the deal was done) and how long ago were these purchases made?
This is a good question, but could you clarify the bit about the conversion part?
do you mean that I personally had to convert to fiat? or that I used a bitpay like service and effectively I paid in bitcoin and the vendor received fiat?
cuz I've done tons of bitpay like purchases, where I don't have to convert shit.
but if you're talking about a transaction where I pay bitcoin directly to the vendor and the vendor actually accepts bitcoin and doesn't immediately convert to fiat?
I can only think of 2 scenarios where that has occurred.
- when I bought something from someone on this forum.
- when I tipped someone from this forum because they freely gave me advice or information that I directly profited from.
and that's about it/
*added a bit of ranting - viewer discretion is advised*This is why I think that all this regulation talk is complete bullshit. They should first prove that they can effectively regulate their own failing currency before they go ahead and fuck up ours.
375.
Post 6783013 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
This is a good question, but could you clarify the bit about the conversion part?
do you mean that I personally had to convert to fiat? or that I used a bitpay like service and effectively I paid in bitcoin and the vendor received fiat?
By "without converting it to USD before the deal was done" i meant not using any third party converting service. Merchants like Overstock can do anything they want with your Bitcoins afterwards of course.
merchants like Overstock use a third party converting service
so
376.
Post 6784123 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
actually this is
very cool. can you get a discount if you plan to be a permanent resident? 400K is a little steep for me.
I would rather not go through another Canadian winter if I don't have to.
377.
Post 6785155 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
What are the 5 last things you paid for with BTC (without converting it to USD before the deal was done) and how long ago were these purchases made?
This is a good question, but could you clarify the bit about the conversion part?
do you mean that I personally had to convert to fiat? or that I used a bitpay like service and effectively I paid in bitcoin and the vendor received fiat?
cuz I've done tons of bitpay like purchases, where I don't have to convert shit.
but if you're talking about a transaction where I pay bitcoin directly to the vendor and the vendor actually accepts bitcoin and doesn't immediately convert to fiat?
I can only think of 2 scenarios where that has occurred.
- when I bought something from someone on this forum.
- when I tipped someone from this forum because they freely gave me advice or information that I directly profited from.
and that's about it/
*added a bit of ranting - viewer discretion is advised*This is why I think that all this regulation talk is complete bullshit. They should first prove that they can effectively regulate their own failing currency before they go ahead and fuck up ours.
Shmadz: You are changing the question. All that matters is what you did. If you bought with bitcoin, then you have accomplished an affirmative response to the question. It does NOT matter what the receiver of your bitcoin did, and you may NOT even know what they did - whether they converted the BTC to fiat or NOT.
alright Jay, in that case my last 5 purchases were:
1- cointerra box - 3 months ago - (has already arrived only doing 1550 GH/s currently because one core likes to go to 120C and then reboot the machine, at 7 level it only reaches around 90 and the thing seems stable, I'm going to experiment this weekend what level it needs to be at to run from one single 15A 110V standard NA connection)
2- neptune - 6 months ago ( but now I get 2 for 1 apparently, someday, maybe, wheeee! but still nothing tangible has arrived)
3- some hookups to make power supplies run when they're not connected to computers - *I think it was from Cablez, but I can't remember, that was like a year ago
4- mostly donations to bitcointalk members like arepo and organofcorti
5- I bought a bunch of second-hand video games that I've never played from some online vendor that was operating back in 2012, they got at least 50 BTC of my business.
but this brings me back to my rant, there should be no push to regulate bitcoin itself - it is self-regulating. The only thing they should be looking at is the conversion into and out of the fiat that they have jurisdiction over.
more than that, it is almost impossible to perpetrate fraud
inside of the bitcoin system. -- the exchanges between the currencies should probably be regulated, but I think the main point that regulators need to understand is that bitcoin network itself is self-regulating and needs no oversight (also they couldn't effectively regulate it if they tried, but that's another discussion)
378.
Post 6785443 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
back on topic, this flatness is sucking big time.
I'm sure you all remember the
this song
here is a slightly more upbeat version, I skipped to the proudhon song part, I recommend you go back to the beginning and listen to the whole thing, if you're bored.
http://youtu.be/K3zV4V4jZTk?t=51m
379.
Post 6785667 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
there should be no push to regulate bitcoin itself - it is self-regulating. The only thing they should be looking at is the conversion into and out of the fiat that they have jurisdiction over.
more than that, it is almost impossible to perpetrate fraud inside of the bitcoin system. [...]
I don't know what you mean by "regulate bitcoin" or "inside the bitcoin system", but fraud in bitcoin-only enterprises and investments is absurdly common, even of we ignore MtGOX and other exchange scams. For example, Danny Brewster was able to pull the Neo & Bee scam because its shares were sold for bitcoins through a Panamanian company that was not registered as a stock exchange, not even in Panama. He probably would not have been able to do a real IPO with ordinary money on a regulated exchange; his past "career" in the UK and the lack of a real business plan would have been exposed.
apologies prof, what I mean is that fraud or corruption "within the bitcoin system" is almost impossible.
"within the bitcoin system" I simply mean to indicate bitcoin-only transactions, which are completely transparent on the blockchain.
I am positing that all of the fraud and corruption happens at the conversion level, and is a symptom of the level of corruption that exists in the current system.
380.
Post 6785698 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Guys, if you dont care that merchants are not holding onto their coins.....and not many new people with fiat are arriving in the system...do you think current price levels are sustainable? Merchants care about USDs received from your purchases and as third party services are selling your coins = eating what little fiat there is left, shouldnt the price drop in the long term?
dude, I get that you're new, but I think you just don't quite get what this means yet. You're well on your way, and no one can tell you this kind of stuff, you really need to figure it out for yourself.
good luck
381.
Post 6786362 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Guys, if you dont care that merchants are not holding onto their coins.....and not many new people with fiat are arriving in the system...do you think current price levels are sustainable? Merchants care about USDs received from your purchases and as third party services are selling your coins = eating what little fiat there is left, shouldnt the price drop in the long term?
dude, I get that you're new, but I think you just don't quite get what this means yet. You're well on your way, and no one can tell you this kind of stuff, you really need to figure it out for yourself.
good luck
No one can tell him this kind of stuff because I suspect at least half the people on here act like they know the answers, but don't. You can spot them easily by the "look at the previous threads," which to me means "look at the previous threads, but I totally never did because TO DA MOON!"
Hi Octa, I think no one can tell
anyone about this kind of stuff. I think you can make suggestions and observations, but this kind of stuff is so far beyond most people's reasoning that it is pretty much a waste of time trying to explain it.
I didn't mean to imply that looking at previous threads would have any meaningful impact on the level of understanding of an individual (although it probably would) - what I meant to convey was the idea that -in today's world- a person's consciousness will tend to reject ideas that are not placed there by TV and gov't. I'm trying to say that this is the kind of stuff that you really need to figure out for yourself, because it is completely different from everything you've ever been taught or told.
anyways, the way that I try to tackle the problem is first I try to first understand or identify the limits of the technology, then try to understand the ramifications of the implementation of this technology in our current system. after that I might try to imagine the impact going forward... after the mass adoption and infrastructure has been built.
382.
Post 6786695 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Huobi's volume for today (Sat May/17 UTC) is only 8.8 kBTC.
There are still 4 hours left before 24:00 UTC, which would be 08:00 Sunday morning in China, so perhaps it may still grow a bit. In any case it will probably be the lowest this year, much less than the 18.0 kBTC of Mar/23 (a Sunday when the exchange was down for ~4 hours in mid-afternoon), and the 15.3 kBTC of Jan/31 (the Chinese New Year Day).
Previous comparable lows were 9.6 kBTC on Dec/03, 2013 (following the first crash after the all-time high; was the exchange down during that day?); and 8.7 kBTC on Nov/03, 2013 (the eve of the big rally, after the price had been mostly flat at 200$ for some ten days).
Considering the latter, this low volume may be taken as a bullish sign.
When even Stolfi starts turning bullish, then you
KNOW it's time to buy.
383.
Post 6787069 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
384.
Post 6792318 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Houbi going for another dip, anyone else planning on cashing in on some cheap coins?
385.
Post 6805698 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
You can't. You have throw away that number and compute a valid number. It costs about $2k to buy 1 ghps, which burns .2 joule/gh at $0.1/kwh, and which gives you a 1.3x10^-8 chance at every 25 btc block reward (one every 9 minutes). That difficulty increases 20% at each adjustment, every 12.8 days. Now calculate.
<snip>
[I wonder especially about the "Total network hash rate: NHR = 65'000'000 GH/s", is that really per second, per day, or what?]
there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.
luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source =
http://bitcoin.sipa.be/ )
And yes, that is actually 65
Trillion Quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?
-also, just noticed this part
Technology-dependent data:
Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
[Source: @aminorex]
I think that's a typo or something, should be closer to 2000 USD/(TH/s) I believe.
386.
Post 6816241 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
You really would have to have a monumental lack of patience to dump 500 coins at once into this market. At least do 250, let the bids fill in again and then do the other 250.
what if you're trying to sell several thousand coins and have been doing so in ~500 coins chunks over the past several days?
387.
Post 6826670 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
I was beginning to think that the one thing that could kill bitcoin would be boredom.
Good to see the patient still has a pulse
388.
Post 6826913 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
389.
Post 6827149 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Shouldn't we at least make sure it breaks 475 before we start declaring victory.
No one's declaring anything at this point.
This is more like dancing in the rain after a long drought. oops, missed the post you were talking about, but yeah, kireinaha just letting off a little steam, just like everyone else.
390.
Post 6827301 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
Appears related to this, per btc-e trollbox:
MarketQ PBOC to create a special banking unit for the funding of bitcoin exchanges
MarketQ China Exchange moving oversees
MarketQ Chinese offshore Yuan available for trading... if you were wondering why its rising, Chinese offshore Yuan available for trading, thats why.
Rumors. And bullshit
You know what they say in bitcoinland... "Buy the rumour, Buy the news."
391.
Post 6845788 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are
you selling?
392.
Post 6845937 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are you selling?
Between $1200 and $5000, incrementally of course at a 1% on the low end stepping it up in increments 0.5% of the resulting new balance each ~3 days. I will build a spreadsheet so I don't get confused.
thank you, that sounds like an excellent plan, if you could share the spreadsheet when you're done that would be freakin' sweet!
This Thursday, before it crashes to $270.
Thank you as well, your opinion is always appreciated.
393.
Post 6846131 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are
you selling?
Seems most are thinking it's bubble time? Hmmm. What was that thing people say about everyone expecting the same thing? Hehe.
sometimes I think that it's possible that the only reason
anything exists is because we perceive it to be so...
394.
Post 6846287 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are you selling?
Seems most are thinking it's bubble time? Hmmm. What was that thing people say about everyone expecting the same thing? Hehe.
Yeah, IMO you aggressive bulls are jumping the gun here. We popped a bit which caused wavering fence sitters to freak out and buy. We'll consolidate here for a bit, and hopefully trickle up for a month... this price action will start convincing the larger players and the media that the next run is coming. But I don't think its bubble time, instead compare it to the rebound from 2 to 4+ (in early 2012).
this
this would be my greatest wish, nice slow growth
my greatest fear is that this will hit 6 digits before the next block reward halving
395.
Post 6847504 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
a bedtime story
Floored: Into The Pit - Epic Trader Movie!
https://www.youtube.com/watch?v=tCcxr-fyF4Qsweet dreams everyone
396.
Post 6867507 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
hold steady ChartBuddy, I personally would like to see the price stay as low as possible, for as long as possible.
397.
Post 6867629 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.45h):
There is one idea in crypto-currency that is unquestionably good, but most parts of the bitcoin protocol are "good" only if one subscribes to the libertarian dogma that banks and governments are evils to be removed.
The only thing about bitcoin that matters is that it is an accurate ledger of transactions, that it is open to the public, and that it cannot be fucked with.
(apologies to JJG, this post has been heavily edited )
398.
Post 6868622 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
I don't know from markets, but this feels a lot like the opposite of those big dumps that were getting eaten up a few weeks ago. like you could dump a bunch of coins and it would only go down briefly, and then right back up, right away.
Now, with these buy tests, the market does not retrace, only perhaps oscillates in a tightening triangle until the next "test"
I really wish that everyone would just curb their enthusiasm and remember that this is all just a dream.
https://www.youtube.com/watch?v=rsL6mKxtOlQcase in point:
to steal a phrase from MatTheCat:
WHAT THE HELL IS WRONG WITH YOU BITCOIN NUTTERS!???!!?!?
MAX ALL YOUR SHORTS!!!
399.
Post 6868984 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Alot of this buying is shorts closing. Over 1000 btc in shorts closed in last few hours.
is that why we don't see the bounce-back?
400.
Post 6869174 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Alot of this buying is shorts closing. Over 1000 btc in shorts closed in last few hours.
is that why we don't see the bounce-back?
You mean why we don't at least go down a bit instead of flatlining?
I think everyone is anticipating a bull market. So we have one. I don't think this has legs to get past 650ish, but as long as people are selling, I guess we can run for a while.
From a wave perspective this is a corrective pattern from the low with one more bull run up, before resuming back down.
We will see.
yeah, you got what I meant exactly.
but when you say "resuming back down" do you mean a retracement? or do you seriously think we will test recent lows? (I mean like sub 450 range)
401.
Post 6869354 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
I note there's been some healthy (ish/er) volume the last couple of hours; didn't someone suggest some time back that Thursday is SecondMarket's usual day for buying coins?
quite astute
there was some fair volume on the last bump up, and the bump before that...
I'm hoping for some contrary action to keep this whole thing in check.
402.
Post 6869893 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
houbi going down, others to follow?
403.
Post 6884874 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Has China banned Bitcoin this week yet?
I heard China banned Windows 8 this week
if this is true, it's a real blessing to the Chinese people.
I hate 8
404.
Post 6885434 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Wow, can hardly believe the ripple news, why do people still think centralized and heavily owned currencies are the way forward?
Ripple is something new. It offers unique features and in comblination with bitcoin can be a really powerfull currency system. It's a really advanced platform and could have a great future.
I don't like systems based in centralisation as well but ripple takes it much further than most "centralized and heavily owned currencies" as you mention do.
ripple is nothing new, it's just digital version of hawalla and obviously someone wanted out.
405.
Post 6885462 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Ho Lee Crap
so glad I got out of doge once they decided to make it never-ending.
406.
Post 6886178 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
this market is just plain nuts
and I love it
407.
Post 6886426 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
any chance we could get a human translation? or just a summary?
thanks
408.
Post 6904814 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Didn't they pass a solvency audit prior to the fall of Gox?
Yes and no. The audit was released in I think March or Feb but the actual audit was done in November. Besides you still have to trust the auditor. (Again Im not saying there are any solvency issues)
Wasn't it Andreas? Apologies, on phone with low battery so can't search to find the details.
What does who it was change to the fact you have to trust them?
I trust Andreas.
He was very open about the fact that his "audit" didn't really prove anything. Best thing about Andreas is he would never ask for my trust, and if he ever did, then I would probably mistrust him/
That's why I think the best thing about blockchain technology is the elimination of the
need for trust.
409.
Post 6905041 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.
I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.
As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out.
so sad
we might never see mah in here again.
has anyone seen him anywhere?
I sure hope he's ok.
410.
Post 6905351 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Weird how people suddenly are dumping. They are just so afraid we might go down again.
Let them dump, it has not much of effect. We went down $15,-. Been there, done that.
The sooner the retards are gone the better
I call another try for that wall $550,- within the next 24 hours. Before that we might see $505 on Bitstamp, but thats about it.
I would like to see the price hit around 510 before we continue.
if it drops below 500 I would consider this a possible failed move.
(and then I would slap myself for being so foolish)
411.
Post 6928623 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Can't take money out of our pockets without creating volume.
SecondMarket is doing just that. They earn money from keeping bitcoins locked up.
Can't create volume without price appreciating accordingly.
Can't have price appreciating without us early parasites adopters becoming rich. Filthy rich! To da moon filthy rich!
If old coins get dumped on the market, volume will probably go up, at least for a while, while price goes down. We saw that in every past crash. Exchanges will make more money during price crashes, than when the price is stable.
BitPay will make money even if the BTC price falls, as long as there are people buying with bitcoin.
SecondMarket's BIT could make a lot of money with falling BTC price, if they didn't actually buy the coins when clients invest in them, but only when they liquidate. I don't know the exact terms of their contract (they are revealed only to investors) and whether they could be prosecuted for failing to honor it.
Did you buy a coin yet, old man?
And ruin my trading record?
Not likely soon...
Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few)
by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.)
I suspect that many businesses will start to use public addresses in order to allow charities to prove where they are spending. These businesses that accept bitcoin in this way would be well served to give a discount to the charity and also take advantage of every opportunity to remind consumers of their charitable actions.
Or even corporations. Some competitor to whole foods will crop up and have provably organic food, bought from organic farms that accept bitcoin.
It's late and I'm rambling again, but having a provably accurate open ledger of account brings up so many possibilities.
Hoping for a brighter future.
412.
Post 6930615 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
almost 3 k btc dumped and price is still north of 560
c c m f
Wait till the whale buys back in..
I wonder how many of the bears (igorr, matthecat, windy) have bought back in..
Windjc said he bought back in ages ago. I don't understand why people such as him get thrown in the perma bear category to the point where we speculate whether they have bought back in or not. Being bearish $100 and 7 days ago means nothing.
Same with TERA everyones asking where TERA is but she said herself when she decided to buy back in she was going to have a break from trading so is it surprising that she's not here to give people a run by run play of her trading practice.
igorr wasn't a bear just a full on troll, I doubt he even had $50 to short with.
Thanks for your opinion.
While I know none of these actors personally, I rate those three as such:
windy - calls it mostly right, pretty sure he's doing just fine.
TERA - same, pretty much. was bearish when market was bearish, I'm fairly certain he's sitting on a large stake of bitcoin and will be taking profit as the price climbs.
igorr - is IGORRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
RRRRRRRRRRRRRRRRRRRRRR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
413.
Post 6931533 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
Comment on the part where he makes a compelling argument why, all speculative/regulatory/technical issues aside, having the possibility for the first time in human history to
work with such a thing as a distributed, tamper proof, public ledger, is kinda a big deal
I am sure you wanted to add "without a specific controlling authority".
<snip>
sorry prof, but the sooner that humankind realizes that it can self-govern, and people simply start to walk away from the older, pre-internet systems, the better.
*edit- hey what the hell? here's an idea for another thesis paper. "Decentralized Governance: a study of self-governing bodies."
anyone willing to publish this paper, I am willing to donate .1 BTC to the cause.
414.
Post 6931851 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
They've dug some wells in far off lands and provided some surreal sporting moments. I think their market cap is well deserved. And it all ultimately feeds back to BTC. I'll guess that most are using alts to increase their BTC holdings.
sure, that's cool.
as long as you're aware that the supply will continue to increase, like, forever?
just try to imagine infinity, it's actually harder than it seems.
*edit* - assuming we're still talking about doge, that is.
415.
Post 6931899 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.46h):
http://willyreport.wordpress.com/So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this is why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they certainly were not the main reason. But more on that later.
lol
interesting. thanks Walsoraj.
*edit* Who's blog is that? It seems to be very well written.
416.
Post 6932965 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
Re the Willy report: Is this the moment in the animated cartoon when the guy is about to realize that he has stepped off the cliff and has been standing on thin air for a while?
Nothing will change. The bitcoin community is a cult that has repeatedly proven capable of shrugging off the lack of any reasonable foundation to their beliefs.
precisely,
the cult of curiosity about what could be possible if we were to allow the public to have a say in how their money is governed. It's palpable.
even if only a "significant minority" (say one in ten, or one in five) were to even question the issue of traditional money creation, then I would consider that we are at least trending towards truth discovery.
417.
Post 6940244 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
oh crap, here we go again.
Can't you guys just relax a bit?
I don't get paid until the first of the month
418.
Post 6940316 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
oh crap, here we go again.
Can't you guys just relax a bit?
I don't get paid until the first of the month
The wall is down!
another wall at ~3660 on huobi
edit: aaaaand, it's gone
419.
Post 6940414 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
This is too fucking fast...
What's going on?
The walls getting eatin' alive
I don't care if the fucking roof get's eaten alive
If we go thru 600 steadily we are going too fucking fast
Look, I'm 100% btc but this is just crazy
My dad needs to get his money in though(guy was to stuck up his own ass when price was 430)
He'll have to catch the next train.
fuck it. I'm not waiting till payday. gonna take a short-term loan, hopefully we get a nice retracement by Wednesday.
420.
Post 6961002 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
Look at the 1-day RSI chart. The pattern is repeating. If that's true, we should keep raising to 700-ish, stabilize at 600-ish for a month, and the real bubble begins at July.
everybody goes history does not repeat blah blah blah
But i agree this biatch certainly is doing a very good impression of the same thing ...
Maybe we should say humans repeating their same mistakes or humans not changing their behaviour in the context of (GREED/FEAR)
Further zooming out you will see this pattern has happened 3 times in a row
Nice Chart and very telling. Hope it plays out the same way...
I love this chart, it gives me hope that we still have some time before the fireworks/
421.
Post 6962048 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
aw man, even more noobs who will use the dreaded 'bits' instead of ubits.
There are worse problems.
Yes, although I agree the term is illogical.
what the hell are bits worth anyways? 1 000 satoshi or something? can someone give me a conversion confirmation here? my google-fu is not so great when I'm dring.
422.
Post 6962089 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
Why does igorr keep on saying: This user is currently ignored. Anyone?
He is one of our most intelligent users on here. His contributions, brilliant as they are, however tend to move the markets through their sheer relevance and originality in a way that is unpredictable, maybe even dangerous.
It was decided that it would be for the better of all of us lesser users if we are spared the radiating intelligence of his posts, and thus he has been placed on ignore by most. A sacrifice none of us made lightly.
The candle that burns twice as bright...well put,
it is people like igorr that have convinced me to never use the ignore button.
you just never know when a pearl is gonna fall out of a lump of turd.
423.
Post 6962235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
what happened when bitcoin forked?
man, that was crazy times.
you ask that to a bitcoiner, and anyone who was in the game at that time will remember where they were and what they were doing.it's like louis armstrong on the moon or JFK assassination.
personally, I found out about an hour late, and I was just glued to these forums. I read all the pastes from the IRC chat, and the discussion threads they spawned, and after 4 or 5 hours, it was pretty much over. it was kinda cool how quickly consensus was reached.
the motives protecting bitcoin are so simple and so strong, smart contracts and bitcoin-denominated assets and all that is just a side show.
Bitcoin should just stick to being money, and just get rid of everything else.
Money is what moves this world, after all.
424.
Post 6962411 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
The bull markets make me more nervous than the bear ones even though I'm a hodler. If we carry on like we have been, it'll be ATH in about 2 weeks. That's MENTAL.
425.
Post 6962553 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
what happened when bitcoin forked?
man, that was crazy times.
you ask that to a bitcoiner, and anyone who was in the game at that time will remember where they were and what they were doing.it's like louis armstrong on the moon or JFK assassination.
personally, I found out about an hour late, and I was just glued to these forums. I read all the pastes from the IRC chat, and the discussion threads they spawned, and after 4 or 5 hours, it was pretty much over. it was kinda cool how quickly consensus was reached.
the motives protecting bitcoin are so simple and so strong, smart contracts and bitcoin-denominated assets and all that is just a side show.
Bitcoin should just stick to being money, and just get rid of everything else.
Money is what moves this world, after all.
Why would Louie Armstrong go to the moon when there is no air? Air is necessary for his horn.
doh!
maybe it was neil? or maybe chuck norris?
I can't remember, I wasn't alive back then, and I'm still skeptical about the whole thing, just like the prof
426.
Post 6962826 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
For all this "we are overbought and must pullback" talk, the truth is that we are consolidating at highs. Historically this is bullish about 95% of the time.
Breaking 600 is a huge psychological deal, so the fact that we are consolidating at 585, just as we did at 495, is no surprise.
One thing we should all remember, is that when the bitcoin trend is up, it is VERY easy to underestimate how far it can go, and how little "overbought" really means in a bull trend.
I don't always agree with windy, but when I do, I agree that upticks without significant pullbacks is incredibly bullish.
*edit, forgot a word there*
427.
Post 6963406 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
is it just me? or does it feel like the contractions are coming closer and closer?
428.
Post 6963461 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
594... get ready!
Not saying I told...
Yeah, screw it, Im telling you I told you so.
You're like Neil Armstrong blowing his trumpet...no wait...
*smile*
429.
Post 6963618 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
Here's a tip for those people who keep dumping around 600. If you don't dump the price will go up and your coins will be worth more. Crazy rocket science, i know.
oh really?
I'm going in Tera mode for now.
Too much resistance. Bid wall removed. Dump incoming. Back to 550
Yes too much resistance. Can I ask where are you trading?
I don't. I suck at it.
and yet you love to give advice.
like now?
430.
Post 6963801 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
Here's a tip for those people who keep dumping around 600. If you don't dump the price will go up and your coins will be worth more. Crazy rocket science, i know.
oh really?
I'm going in Tera mode for now.
Too much resistance. Bid wall removed. Dump incoming. Back to 550
Yes too much resistance. Can I ask where are you trading?
I don't. I suck at it.
and yet you love to give advice.
like now?
Am i wrong?
I don't know. you were calling for a dump back to 550 and now you're saying that dumping at 600 is stupid.
I respect that you can change your mind whenever you like, but just don't try to pretend like you know what you're talking about.
(*edit*- sorry shroomsy, that was a bit aggressive. I don't mean to be mean, I'm just mad that I didn't get more fiat in when it was cheap. just like always.)
431.
Post 6963929 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
594... get ready!
Not saying I told...
Yeah, screw it, Im telling you I told you so.
You're like Neil Armstrong blowing his trumpet...no wait...
*smile*
@Shmadz
Proof 'Satchmo' actually was on the moon...
he was satchmo? really?
lol, I only know a different "satch"
this one is still my favourite.
http://youtu.be/6yc8xyL0Xxo?t=1m58s
432.
Post 6963942 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
The world must be one big adventure for you every day you wake up.
Yup! pretty much!
I love it. It's great!
433.
Post 6964299 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
what the hell are bits worth anyways? 1 000 satoshi or something? can someone give me a conversion confirmation here? my google-fu is not so great when I'm dring.
Satoshi is cent. Bit is dollar. That is 100 satoshi.
so in other words,
buying a couple pizzas with 10,000 bits might seem like a good idea today......
434.
Post 6983308 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
http://www.techhive.com/article/2159380/quickcoin-app-lets-users-send-bitcoin-through-facebook.htmlsorry, I know I'm always dragging up old shit, but..
am I the only one that thinks it looks like quickcoin is trying to get bought by facebook?
it would be a nice payday for quickcoin, and it would offer facebook a nearly turn-key solution to offer facebux.
I'd recommend they design it as an off-chain wallet where your facebux are held and transferred from user to user.
with sidechains or treechains or whatever it should be possible to build it in an open, trustless manner. though I suspect facebook will build it as a black-box type of off-chain abomination a'la mtgox.
interesting times.
435.
Post 6983700 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
1. Since the last post BY @JorgeStolfi some six hours and four pages ago, there may have been 30 posts ABOUT @JorgeStolfi. I am flattered and moved. Sorry @fonzie, but as the poet wrote
Cesse tudo o que a antiga Musa canta
Que outro valor mais alto se alevanta
2. Thanks again for the offer, but I would rather not have any bitcoins, and I do not intend to help distributing bitcoins to anyone, my students or not. I am sure you will find charities or other worthy projects that will make much better use of the money.
3. I got to 65k tweets before knowing about bitcoin; mostly on politics, a bit of thechnology, humor, etc. I was looking forward to commemorate my 65535th tweet, but then Twitter switched to the approximate "65K" count format. Darn. But I was bored of politics anyway and decided to take a long twitter vacation. By the way, it was through Twitter (specifically @falkvinge's tweets) that I first learned of bitcoin. Since December I have been mostly wasting the stolen taxpayer's money here instead, using twitter only once in a while to warn people about bitcoin.
4. Why do people assume that I "still do not understand" bitcoin? In my view, it is the shrillest bitcoin enthusiasts who do not understand much about it and how the world works. Like those who still claim that bitcoin will let people evade taxes and buy illegal things, or that bitcoin is a safer investment than plain cash, or that China is irrelevant, or that the volume in the blockchain shows that people are
using bitcoin --- or that the right technology, by itself, can save people from corrupt politicians and greedy bankers.
cheers stolfi.
I was always wondering if old dogs could learn new tricks.
Now I realize that they can't, and that the new tricks must be beaten into them.
I hope that your own personal transition from the old system into the new one is not
too bumpy.
436.
Post 6983810 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
I really want the bitcoin price to skyrocket. I am saving up for a triple monitor setup and right now i have ~0.23 BTC, and I want the price to be at LEAST 1000$ when I cash out, until then, I won't be cashing out, and I will be left with less money to spend...
I don't give advice, but I would wait until at least 2000, but that's just me.
437.
Post 6984085 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.47h):
I really want the bitcoin price to skyrocket. I am saving up for a triple monitor setup and right now i have ~0.23 BTC, and I want the price to be at LEAST 1000$ when I cash out, until then, I won't be cashing out, and I will be left with less money to spend...
0.23BTC @ 1000$ won't even buy you 1 really good monitor. Why would you need 3 monitors to watch the price?
$230 = .23BTC = 1 Korean 27" 2560x1440 IPS monitor... ? (if you are lucky)
So you need it to be more like $4000.
Sounds like he just needs more bitcoin.
nah, this is where deflationary currency meets deflationary products.
deflationary products:
"you mean to tell me, that I can buy a TV that's twice as good (4K or whatever) next year for the same price as this piece of crap you want to sell me today?
deflationary currency:
"and now you're trying to tell me that the thousand bucks I spent last year on that piece of crap TV is now worth ten thousand?!?!???"
ah whatever, it's a crappy metaphor, it seemed cool when I started typing, I guess that happens when you're drunk and you think all your thoughts are worth posting.
438.
Post 7004945 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
thanks for that link, it brought me to this one
https://www.youtube.com/watch?v=kWRlNO79sLwedit:
I never quite understood the
"adoption gap" chasm until I saw this little beauty
big thanks to whoever dropped that link, sorry I don't remember
finally I understood that this correlation of hype and despair explains the
"adoption gap" chasm theory.
439.
Post 7005576 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Eh, sorry to rain on your parade guys, but in all honesty, the entire "should we talk abot bit or ubit or mBTC" discussion only matter if Bitcoin ever becomes a unit of account. And frankly, I don't see that happening for a long time yet. (I mean it: long time. A human generation, maybe).
And for the other aspects, exchange medium, store of wealth, it doesn't matter one bit (hur hur) what it's called... gold bugs had to wrap their head around the rather impractical 'ounces' for a while, and that never stopped adoption either.
What I'm saying is, discuss away how to call the fractions of a coin, but I tend to think, it won't matter either way.
*emphasis mine
bitcoin was born as a unit of account, it's actually the core function. simply an open ledger of accounting (that cannot be changed, by anyone, as far as we know)
but I'm guessing that you're using the term "unit of account" to mean "global reserve currency" and in that case you're right, 10-15 years at least... I think?
440.
Post 7005683 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Eh, sorry to rain on your parade guys, but in all honesty, the entire "should we talk abot bit or ubit or mBTC" discussion only matter if Bitcoin ever becomes a unit of account. And frankly, I don't see that happening for a long time yet. (I mean it: long time. A human generation, maybe).
And for the other aspects, exchange medium, store of wealth, it doesn't matter one bit (hur hur) what it's called... gold bugs had to wrap their head around the rather impractical 'ounces' for a while, and that never stopped adoption either.
What I'm saying is, discuss away how to call the fractions of a coin, but I tend to think, it won't matter either way.
*emphasis mine
bitcoin was born as a unit of account, it's actually the core function. simply an open ledger of accounting (that cannot be changed, by anyone, as far as we know)
but I'm guessing that you're using the term "unit of account" to mean "global reserve currency" and in that case you're right, 10-15 years at least... I think?
I told him already. He doesn't believe me.
I think he understands bitcoin pretty much as well as I do. We may differ on some finer point, and when we do, I start to worry a little bit... I guess that's why I posted that.
441.
Post 7006340 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Whoever is selling right now is getting played. I haven't seen any TA showing this is the right time to sell.
Unless you have so many coins you have to sell 24/7 or you are Satoshi keeping things in check, I don't get what you are trying to accomplish.
whatever keeps up as low as possible for as long as possible is all good in my book
442.
Post 7006525 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Whoever is selling right now is getting played. I haven't seen any TA showing this is the right time to sell.
Unless you have so many coins you have to sell 24/7 or you are Satoshi keeping things in check, I don't get what you are trying to accomplish.
whatever keeps up as low as possible for as long as possible is all good in my book
You have been around for 3 years, seems like you would have bought all the "cheap" coins you need by now lol
yes, it is actually quite embarrassing to have been around for so long and to still have so few coins.
I have made, and continue to make, some very bad decisions, and yet I'm still up overall,
just not like millionaire styles
443.
Post 7006787 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
HAHAHAHA.
A MA GAWD. Watching Huobi makes me imagine how them chinese boys are sitting behind their PC's.
HO LEE FUK. WE TEECH EM WESTELN PEOPLE SOME POOPIE OF THEY OWN YES.
Racism aside, it's a fair assessment.
all the other markets seem to be following, as usual.
if we could break below 550 I would be on cloud 9 (
it's that little cloud on the other side of the moon)
444.
Post 7006827 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
thanks for that link, it brought me to this one
https://www.youtube.com/watch?v=kWRlNO79sLwedit:
I never quite understood the
"adoption gap" chasm until I saw this little beauty
big thanks to whoever dropped that link, sorry I don't remember
finally I understood that this correlation of hype and despair explains the
"adoption gap" chasm theory.
They are not one and the same the hype cycle is typically of the run-ups to all-time highs.
The adoption curve represents 100% of Bitcoin's total user base untill Bitcoin reaches maximum saturation.
The adoption chasm is about critical mass if you can reach
13-16% of your target user base, you have crossed the chasm and the network effect will trigger the remaining adoption through to saturation.
In my mind we're still in early adopter or innovator stage, we haven't crossed the chasm yet, once we've hit 13% of total Bitcoin users we've crossed the chasm and we home free.
agreed, this only helped me realize at what stage in adoption we are at currently. and also of course to realize that the "chasm" might actually be real.
we are no where close to 13-16% in my opinion.
445.
Post 7006877 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
They sure have been dumping many coins into 3500 over the past 24 hours. Maybe they doing us a favor certifying that 3500 is very strong support. If it holds it should shoot straight up no?
As soon as my
money fiat clears, I'm buying half, and setting the other half in a tranche back down to 450 (CAD on virtex)
I'm not giving advice, I'm just saying what I might hypthecically do.
*edit for clarity
446.
Post 7006921 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
thanks for that link, it brought me to this one
https://www.youtube.com/watch?v=kWRlNO79sLwedit:
I never quite understood the
"adoption gap" chasm until I saw this little beauty
big thanks to whoever dropped that link, sorry I don't remember
finally I understood that this correlation of hype and despair explains the
"adoption gap" chasm theory.
They are not one and the same the hype cycle is typically of the run-ups to all-time highs.
The adoption curve represents 100% of Bitcoin's total user base untill Bitcoin reaches maximum saturation.
The adoption chasm is about critical mass if you can reach
13-16% of your target user base, you have crossed the chasm and the network effect will trigger the remaining adoption through to saturation.
In my mind we're still in early adopter or innovator stage, we haven't crossed the chasm yet, once we've hit 13% of total Bitcoin users we've crossed the chasm and we home free.
agreed, this only helped me realize at what stage in adoption we are at currently. and also of course to realize that the "chasm" might actually be real.
we are no where close to 13-16% in my opinion.Pulling a number literally from nowhere, it FEELS as if we are around 0.5%. Anyone have a more accurate number?
I'm sure accurate numbers are incoming, but 0.5% FEELS "
no where close to 13-16% in my opinion."
*edit for anyone that missed the earlier link to one of the best albums of all time, this part some 20 minutes in might better grab your attention.
http://youtu.be/xP8sWxFu0DA?t=19m25sThe problem has been staring us in the face for 30-40 years. The answer came only 5 years ago.
447.
Post 7007139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
They sure have been dumping many coins into 3500 over the past 24 hours. Maybe they doing us a favor certifying that 3500 is very strong support. If it holds it should shoot straight up no?
As soon as my
money fiat clears, I'm buying half, and setting the other half in a tranche back down to 450 (CAD on virtex)
I'm not giving advice, I'm just saying what I might hypthecically do.
*edit for clarity
The good ol' bear tactic. Which very likely fails and makes you end up buying even more expensive coins.
Just buy and hold. You'll beat 90% of the traders and people chasing cheap coins all the time.
my position already consists of a large enough portion of my less than considerable total wealth.
I think I'm acting completely appropriately given my personal position.
I do not recommend that anyone else act on or make decisions based on anything I say.
448.
Post 7007189 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Pulling a number literally from nowhere, it FEELS as if we are around 0.5%. Anyone have a more accurate number?
Don't do all super bull but
if 1 in 20 wind up using Bitcoin in some way we are somewhere between 0.5 and 1% adoption. I'd think. Bitcoin won't have that much penetration but be happy if 1 in a 100 found it useful so maybe we're between 3 and 5 % total adoption or maybe you're a laggard, and we're bag holders. How long is a piece of string?
*to address the bolded part:
I think 1 in 20 gets us to 5% - just saying.
449.
Post 7007248 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
They sure have been dumping many coins into 3500 over the past 24 hours. Maybe they doing us a favor certifying that 3500 is very strong support. If it holds it should shoot straight up no?
As soon as my
money fiat clears, I'm buying half, and setting the other half in a tranche back down to 450 (CAD on virtex)
I'm not giving advice, I'm just saying what I might hypthecically do.
*edit for clarity
I'm currently 100% fiat and it doesn't feel good. I would love to get more coins, if the price goes up that is also nice
ok, I'm gonna stop posting now, cuz I'm probably just being stupid at this point, but if you are 100% fiat, how would the price going up be nice for you?
heavy into fiat has always been a scary place for me.
*edit* just to make certain that I break my own promise, I'd like to end with this
bitcoin might be the easiest and least violent way for the world to transition from a corrupt fiat money system into something else
450.
Post 7026187 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
did I just observe a wall?
*edit, replaced pic with better pic.
451.
Post 7026534 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
[IMG virtex order book [/img]
did I just observe a wall?
*edit, replaced pic with better pic.
looks like the same walls that dance around following stamps price.
well,
something seems to be happening...
Yea, even though on bitcoinwisdom, I seen 2 big red candles, the price has not moved that much. These resistant points
yeah, sorry bout that, I saw the little price spike on btc-e and thought we were going up again. I already deleted my post.
but it did start me thinking about arbitrage, which I kinda suspect would be the reason for such a move.
So, let's say, I've got a large amount of both fiat and bitcoin lying around at several exchanges. btc-e was like 15 dollars lower than stamp, so I buy like hell at btc-e and drive the price up to parity with stamp, and because the markets all twitch together as one, the move can cause the other exchanges up as well.
It's like supercharged arbitrage.
452.
Post 7027551 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis. Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!
Right. Thanks to SMBIT, traders only have to worry about the destination of ~27'000 BTC per week, rather than 28'000.
Seriously, there is at least another bitcoin fund similar to SMBIT (Pantera Bitcoin Partners, PBP). Does anyone know how much they have and are buying?
Weeks eh? In 115 weeks that becomes only 14,000 BTC per week. A few years later it's 7,000 per week. I think you understand the maths here.
You have a problem with the "Satoshi blockchain" and you have a problem with the idea of a
finite supply limit. No surprise; they are the same thing.
shhhh, you don't want to scare the children. we must protect the children from this "funny money".
PLEASE THINK ABOUT THE CHILDREN!!1
453.
Post 7027776 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
In 115 weeks [the block reward] becomes only 14,000 BTC per week. A few years later it's 7,000 per week. I think you understand the maths here.
I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference? Or is the price of bitcoin expected to double at that moment? Or none of the above? Or both of the above?
With questions like that, I'd recommend getting out of the wall observer thread and start taking an academic interest in bitcoin.
no shit prof, that was one of the lamest troll attempts I think I have ever seen.
454.
Post 7046528 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Reccomended course of action for bull market breakouts (eg $460):
1. Rebuy all coins and move them into cold storage
2. Turn chart into 1W timeframe
3. Check the chart every week to make sure the apocalypse hasn't happened
4. Chill out for a few months using this protocol and do not attempt to trade at least until the ATH rally starts
5. You may wish to take a break from the forums also.
6. Do something productive such as a business project.
I was trying to follow this protocol but some jackass started posting intraday charts which showed up all over my Facebook feed so now I'm back here with my popcorn watching the intraday charts and wasting time.
haha, this makes perfect sense, I was wondering why you had gone missing for so long.
Welcome back
Enjoy the ride
*edit to add this little gem*
God damn retarded trolls.
WHERE DO I SAY ANYTHING ABOUT MY OWN POSITION???
Oh wait if you look back you'll see that I went long at $460. I guess the joke's on you.
please feel free, nay, obligated to post here to let me know when you are thinking of selling
much appreciated,
-shmadz
455.
Post 7047210 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Hey, guys? I just ate an entire can of tuna that turned out to be well past its sell-by date... and I think I suddenly saw the future!
Here, I made a drawing for you... I like to call it "the mother of all double tops".
Bwahahahahahahaha
tea leaves analyst reveals a cup and handle
Hoohohohohohohoho
Ya couple of phucking phannies.
And now on to more pressing business.
1500BTC wall on Stamp at $615!
- Erected to be devoured by the same hand(s) that put it their?
- Erected to be taken away in a few hours and/or as soon as buying pressure starts to eat into it?
- Genuine large chunk of selling pressure just aching to offload 1500 BTC right at the point where a bullish ascending triangle formation would be formed on 15 minute chart?
If I sound a little 'paranoid' or suspicious, it was the existence of a 2000 BTC wall on Stamp at $530, which encouraged me to leave my $460 long position at $520. That wall, was simply 'taken away'.
wow Mat, very sad for you, but I think you're still doing it wrong.
460 long would have been an incredible (possibly life-changing) bet.
hopefully you still have at least some bitcoin left.
456.
Post 7047654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
OK, this sucks, I can't even catch up to the whole thread, but I gotta go.
I just want to imbed this last thing into the wallchain before I go.
anyone who is still long in fiat needs to give their heads a shake.
fiat money steals from the children (both born and growing as well as the ones still on the way)
children are not stupid, they actually learn very quickly.
as long as we can keep information free on the internet, and provide low or no cost internet for everyone - including children - then the current system is doomed.
457.
Post 7057459 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Dont Forget......Very bullish on thread count we will break 7000 in 2 hours
What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now
that is worth a party!
would be interesting to watch...
We should start drawing a log chart with the BTC exchange rate and the number of posts in this thread and watch the "spread" shrinking week after week
Done - We are roughly looking at September 2015, unless we align during the March 2015 bubble cycle...
edit: Sorry about all the white space!
(*white space removal free of charge this is beautiful. Thank you.
What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party!
Totally agree! and that day shall become known as an international holiday. Wall Observer Thread Parity Day! (*I'm sure someone can come up with a better name*)
But yeah, logarithmic functions are really mind blowing, for example:
computers were not even imagined
1000 years ago.
the internet was not even imagined
100 years ago.
a solution to the problem of the
double-spend* issue was not even imagined
10 years ago...
I wonder what the next
1 year might bring?
*also - quick thought I just had about that whole Byzantine Generals problem, which I have heard people say that bitcoin apparently solved. I'm not so sure about that.
I wonder if the computer science part of the problem was even addressed at all. I think what satoshi did was provide an incentive model as a workaround to the problem. By providing the generals enough incentive, you can effectively prevent them from acting maliciously, but this system still can not provably prevent malicious actors in the Byzantine Generals problem. at least as far as I understand it.
458.
Post 7059268 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
You don't need to solve the equations though. In a deterministic universe, if you know precisely the starting conditions, you could run a simulation and get the prediction. Chaos theory says that small perturbations in the starting conditions can lead to vastly different outcomes. Quantum physics says small perturbations are intrinsic. Even with two initially identical systems, things will occur in one which will not in the other.
This is precisely why I don't believe in the concept of free will.
Humans are too complex to model, but in the long run we won't be.
if that is true then there is a non-local hidden variable. let's just agree right now to call it the soul, to save time.
it seems reasonable, we can call it whatever we want. soul is as good a word as any.
it does seem that there needs to be some kind of outward influence though.
or inward even, as it feels like this influence manifests itself though our actions?
459.
Post 7059479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
Why do people erect these walls?
Perhaps miners need to cash out to pay bills? Not sure.
miners cashing out to pay bills is a good thing.
it might be the only thing holding this market back.
the elegance of the incentives built into bitcoin should not be ignored.
460.
Post 7060113 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
It seems more likely that consciousness is rationalization after the actions.
mmm ... it's a very interesting thought, thank you.
I still think there is something beyond consciousness, perhaps sub-conscious or super-conscious, that dominates our existence.
or rather, something outside our understanding of this reality that we are constantly in communication with, yet completely unaware of.
461.
Post 7060304 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.48h):
If he has more coins ready and is smart he should stop putting up walls for a little while and slowly put them back again on the way up.
If he keeps adding these walls it might actually stop us from going up for a while and he will be forced to market sell or put a new wall up way lower.
Maybe that is what he is doing. He just happens to have
a LOT of coins to sell.
PS: I'm also struggling to make sense of the wall movements today. The seller seem genuinely interested in selling a chunk at this price level. If he wanted to bring the price down he would have dumped. It would have been easy for him to do when we were below $590 imo, but he waited until we were well above $600, and until the bullish sentiment had returned. When/if he removes the walls everything will be ready and primed to go higher (BTC-e is the only major exchange that is behind). This is the best I can come up with
He dont care what the price is today he is selling because of the date.
Now you got me worried. He might know something we don't. If he suddenly starts dumping because this is going to slow
we might have a problem. why would you have a problem?
you don't trade.
remember?
if the price dumps it's definitely not a problem to me, or anyone else who can only buy a set amount per month or paycheck.
as I said
before, these institutional miners are playing a beneficial role in stabilizing the price. something that was unexpected to me, at first/
462.
Post 7075990 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.49h):
Come on let's break 680 today
ave we not done enough? its my bed time :/
no worries goat, I'll stay up and watch the price for you
463.
Post 7079568 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.49h):
wife needs computer
open bar is close for 20 mins.
lol!
You should thank your wife for pulling your drunk ass away and saving you some money.
That was incredibly awesome and generous by the way Adam. Much appreciated by everyone.
If we ever meet up in person, Id like to buy you a beer, or seven, maybe next year's Toronto conf?
464.
Post 7080206 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.49h):
I propose the name of "beer" to replace the stupid sounding "millibit" as the widely accepted term for 0.001 bitcoin.
Oh tnx adam i got my first cyber-beer.
Im going to sleep now . Anybody can guess what price will be in about 9hours?
my guess is about the same as it is right now. feels like we were setting up for that spike all day. time for a little breather I hope.
465.
Post 7081977 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.49h):
There was no large "first dump" till $670, just small sells. Dumps started at $655 and down. Although they are still in profit by selling at $650
I should have said "first dumps" (plural).
Sure, people who sold at $650 still made a profit, but that's no big thing.
Most people here would make a profit selling at $200, wouldn't they?
Selling at the bottom of this minor correction doesn't make a lot of sense.I'm hoping that
buying at the bottom of this minor correction makes more sense..
670 to 675 range was holding as resistance for a while, (*cavirtex numbers and chart*) I'm hoping that it will now become support for the next leg up.
that's what I'm hoping anyways.
466.
Post 7098572 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
ok, like WTF just happened,
I just got home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...
467.
Post 7098811 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
ok, like WTF just happened,
I get home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...
Some whale made a 600 BTC market order on Bitstamp which took Bitcoin from $640-$660 within 10 seconds. Then there was a 750 Ask Wall at $665. It sat for about 5 minutes followed by selling pressure eating the wall away....then I went to watch Game of Thrones and when I came back, we are in a double top or bullish breakthrough do or die market situation.
Totally counter intuitive. Doesn't make sense. That is because this is not mass market psychology, this is the intentions and/or machinations of an individual entity. With a market as cornered and as engineered as Bitcoin, all TA or common sense goes out the window. I am currently bullish on Bitcoin, but this shit just does not make sense.
It is worrying tbh that the market can be pushed around like this as though Bitcoin were some Shitcoin.
Thanks Mat, I certainly didn't see it coming, though I did buy at that short-term bottom, still not willing to sell, still hoping we will blow through that 680 level at some point and then overextend and fall back to 680 as support, for a few weeks (days???
)
I'm sure that this market (all markets) are manipulated,
I'm still curious to see if open, transparent manipulation of bitcoin is any better or worse than the closed and "regulated" manipulation of other markets.
it's fun to watch it play out
I could buy Bitcoin, or I could take 10K down the casino and put it all on red.
I'd recommend that if you can take a neutral, honest, and non-emotional approach to the idea of bitcoin in general, that you will do much better in the long term than betting on red.
468.
Post 7099761 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Quick poll: Is there anyone here except MatTheCat, Jorge, Igorr who does not consider the log trendline to be indicative of future performance, and the price action of the past month or two to be reversion to the trendline?
Me and I'm pretty much all-in (not a huge position - but the majority of my liquid assets).
There is no way the log trend is going to hold. I'm predicting a relatively slower growth rate (with wide variance - but definitely below 1000%/year).
man I hope you're right.
slow and steady, just stay under the radar for as long as possible.
469.
Post 7099940 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
houbi turning down, btc-e holding steady
I don't think we'll be at this price very long, down or up, I don't know, but somethings' gonna break.
*edit* anyone else find it weird that btc-e tends to be the voice of reason during violent moves?
470.
Post 7099990 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Another quick poll: is there anyone here at all who does not believe that, by 2027, 1 BTC will buy all the wealth in the world?
yep, me
welcome back prof, if you can keep it clean enough and stick to facts and stuff, I think the thread will welcome you back with open arms
471.
Post 7100121 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
wow
4100 wall on huobi seems to be the only thing holding back the upward apocalypse
it just does not feel like a comfortable place for the market to take a breather right now.
(yeah yeah, I know :feelings: and stuff
)
and btce broke before huobi and things are looking bleak
472.
Post 7101073 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Another quick poll: is there anyone here at all who does not believe that, by 2027, 1 BTC will buy all the wealth in the world?
That could only happen if some 21 million other bitcoins were lost on accident.
Or the galactic council decided to admit the Earth.
you never know, an idea like bitcoin might sway them
-edit- btce moving up, no quiet time around here.
maybe btce are aliens?
-edit 2- nm, just all markets gravitating towards 666, again.
473.
Post 7101246 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
CHOO CHOO.
Just testing people, want everything to be in order once we start.
it certainly
feels like an inflection point, but...
474.
Post 7101736 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Watch Huobi fellas. Down or up.. Lead or not to lead.
their morning rush to react to stamp staying above 660
not sure why but huobi market action seems to be more mature than the rest...
just a very nice down channel with lower highs and lower lows, until it was broken, and then it was
significantly broken, and a fairly good leading indicator too when it never got close to touching the lower bound before smashing the upper one...
I can't get any read on a new upward channel on huobi... I suspect you'd have to zoom out for that. I also suspect that some resistance might be met at 4200.
but I still trade mostly on gut, I find it more reliable.
475.
Post 7101862 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
where are the bears now? lol
don't underestimate the bears.
They are hungriest just after they been hibernating for a while.
476.
Post 7101916 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
cHOO cHOO
i'm hoping that this trend will continue, but if i remember well, the last summer the increase wasn't exciting.
let's wait a different pattern.
I don't think bitcoin will follow a seasonal pattern.
perhaps a numerical or mathematical one, a subset of the block-halving or something.
at any rate, I am expecting fireworks in 2016 and I do not want to be disappointed.
477.
Post 7102071 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
false alarm ...move along ...nothing to see here
Testing the waters ...and its a NO
Profit taking in 3..2..1
best guess on top and bottom slopes.
I'd love to see huobi come back down and test the 4000 range.
478.
Post 7102284 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
upper bound been cracked.
either moon shot through 680 and beyond, or failed move, and retrace to lower support
479.
Post 7102417 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Why would you dump right now?
c'mon dude, you know how it is,
when you gotta dump, you gotta dump!
480.
Post 7102457 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Heavily involved miners is my guess...
I had a theory about that a while ago, something about how geeks in their basements can mine for months and not take profits,
but institutional miners with real bills to pay will be cashing out like clockwork, and will help to curb our enthusiasm on this next epic rise.
or something like that
481.
Post 7102546 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Heavily involved miners is my guess...
I had a theory about that a while ago, something about how geeks in their basements can mine for months and not take profits,
but institutional miners with real bills to pay will be cashing out like clockwork, and will help to curb our enthusiasm on this next epic rise.
or something like that
Well, as the price goes up miners need to sell less coins to pay their budgets. As they sell less coin, there is less coin on the market making the price rise even more.
and as the price goes up, the competition for mining goes up, and then the hashrate goes up, and then you're getting less coins, and then....
it's really a brilliant incentive model, someone should do their thesis on that./
482.
Post 7102568 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
I've expected this level to be dealt with in this try. Pretty strong resistance at 670-680.
a tough nut to crack indeed...
it's just a matter of time.
483.
Post 7102649 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
This time last year I was mining 3BTC a day on a single Avalon B2.
Things change incredibly quickly in this game.
bitcoin miners are a dying breed. it's really getting tough to deal with the heat.
484.
Post 7102905 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
slow and steady, just stay under the radar for as long as possible.
It's a bit too late to stay under the radar. We are on radars, for years already, obscurity is not our protection anymore, our only protection is the speed. If we move as fast as possible, we have a chance to escape our mighty but clumsy enemies.
yeah, I dunno,
I don't think speed is exactly our friend either right now, at least in terms of price.
If the price can stay at least respectably low (like at least below 1500 please?) then maybe they will get some favourable legistaltion in place
I'm just hoping that they spend enough time trying to figure out how to regulate it by monitoring the gateways that they don't realize that where we're going, we don't need no stinking gateways!
485.
Post 7103091 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
What kind of fucking bullshit is this
Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.
Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.
as long as you're not getting emotional about it, I'm sure you'll be fine.
just stick to the plan.
we still haven't broken any of my arbitrary lower resistance points, so everything is still peachy keen!
place your bids and asks accordingly.
486.
Post 7103217 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
What kind of fucking bullshit is this
Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.
Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.
as long as you're not getting emotional about it, I'm sure you'll be fine.
just stick to the plan.
This has nothing todo with emotions anymore. I've made some nice bucks over the last 12 days. No problem...
But this market just makes me go fucking nuts. Look at it yourself, honestly. This shit is not normal, Imma stop going forex from now on. Seriously had enough of it. You can get burned so damn fast with this BTC market. Long nor short, you will get burned somehow. Imagine going in for a long position for $1500 and it drops $15, you nearly lose $890 right away. It's insanity
Im done with Plus500 and BTC at this moment. Withdrawn my money and I'll check once in a while what the prices be. Still have my own 12 Bitcoins left. See what it's worth in a month.. or 2.
Maybe it's because my investing background and experience is mostly NFL betting with some world cup soccer thrown in every once in a while, but this is all just betting.
it's much better with bitcoin because you can just cut your losers and ride the winners, but still it's pretty much the same, it's just betting.
I'm glad that bitcoin is the first market I've ever followed, because everything that's happening this past week or so looks perfectly normal to me.
I'd never touch leverage and margin and all that scammy stuff. leave it at wall street where it belongs.
just my opinion.
487.
Post 7103307 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Lmao. I got my money(takes 5 days to transfer to my bank account). And I am running from this madness
I just had to throw that out there, it's INSANE!
I can't argue with that, this is insane,
no more insane than our current monetary policy, but still insane nonetheless.
https://www.youtube.com/watch?v=S8Ppyskw5Vw
488.
Post 7103394 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
First of all leverage with bitcoin is a big no no lol.. even 500:1 gbpnzd during london session is better than that
you kiddin'?
As long as you go long like 1:2.5 or so leveraged you are perfectly fine.
It's actually far less gambling that trying to sell to rebuy lower in a bull market lol
ehhh, maybe it's cuz I'm not sophisticated enuf,
but I'll take my cold storage over your leverage all day, every day.
489.
Post 7103498 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
The future is still ahead, this is just one big whale pushing with borrowed money paying high rates to me
( $1.5m borrowed yesterday) , $21.5 million in longs currently, the fall gonna be epic.. I hereby revise my prediction: 500 in 2 weeks
If you can't see a double top formation, then you are a greedy delusional bull
you think we'll break any of these low lines?
btc-e looks close already, but they're always a little low.
490.
Post 7103634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
If you can't see a double top formation, then you are a greedy delusional bull
If you can't see a tyrannosaurus tail formation, then you are not a true wall observer.
491.
Post 7104276 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
I don't know of any other instrument where traders will put that much effort into maintaining the price $666. Is $666 bullish or goatish?
I do like goatish
The pull to $666 is kind of weird, I think its been the stickiest point on the charts so far and that's become a trend but the first few times around it screamed of manipulation. $13 had an awful lot of pull too but if it was just the draw of a well know figure then $69 would also have been a sticking point (as would the 8's on the Chinese exchanges). It strongly suggests someone taking advantage of superstition, the kind of someone that believes the Christian god is on their side and is unaware those figures will be more inclined to stir interest from younger generations than to dissuade them, I'm thinking knights of templar and the holy wars here. Pure tinfoil but some sort of explanation is needed for the amount of funds expended on maintaining that figure.
I'm leaning towards confirmation bias - you look for the price to approach 666 since it seems significant, but don't notice if it hovers around some other number much more reliably.
That said, the idea some practitioner of The Art somewhere might have been an early adopter and is now using the wealth gained for ritual purposes - or as a joke, if there's a difference - makes about as much sense to me as the whale conspiracy theories that get thrown around here.
you call it confirmation bias, I just see human nature.
also, new charts.
I stupidly hit refresh so I had to re-draw the lines, huobi bottom line is much more aggressive in this set, looks most likely to be broken. also bitstamp still the hardest to draw.
btc-e still charts like a champ!
492.
Post 7119178 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
who is gonna dump first?
didn't huobi already start?
I expected there to be some resistance at 680, but I did not expect it to be this strong or this persistent.
493.
Post 7119349 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
don't worry Adam, bitcoin's just waiting until my next paycheck before taking off...
I hope?
494.
Post 7119702 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Triple top confirmed now - epic dumps everywhere.
Where do you think it will stop?
what 'choo talkin' bout willis?
it already stopped.
495.
Post 7119824 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
I am long on margin, it's painful.
no worries, I hear there's a train coming...
http://youtu.be/PHIRcu3Ero0?t=1m32s
496.
Post 7120452 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
Edit: Cavirtex trading fee's dropped.
confirmed! fees cut in half! (finally
)
Cancel all your standing orders and replace them.
Toot-toot, choo-choo, chugga-chugga, woo-hoo-hoo!
https://www.youtube.com/watch?v=qcPS5_80UIY
497.
Post 7120646 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
or just someone splitting up their wallet to mitigate risk.
498.
Post 7121814 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
beauty.
also, since there's no new TPB episodes, check out this new channel on bitcoin TV.
+ 680 might take a while, but given my track record, I'd say it gets smashed before monday.
499.
Post 7138350 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.50h):
sorry, no time to catch up, or even keep up with the thread, but I did have a thought I wanted to drop.
a challenge to the silent observers.
bitcoin doesn't scare you because it inhibits your ability to stop terrorism or drug trafficking.
bitcoin scares you because it won't let you hide the fact that you are profiting from terrorism and drug trafficking.
also the whole money creation racket, but that's old news.
500.
Post 7157285 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
in a debt-based system the answer to every problem is simply more debt.
501.
Post 7158188 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.
+1, did we just witness for one of the first time a macro-related move
Yeah !
a major newssite called it the end of capitalism as we know it.
That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course.
i don´t think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ?
Wealth Taxes and Savings Sequestration
side note:
has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,
(part 1 as well, of course, and yes, I think part 1 was better, but part 2 seemed a little more "in your face" and Rearden's trial was epic)
502.
Post 7158267 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,
(part 1 as well, of course, and yes, I think part 1 was better but part 2 seemed a little more "in your face" and Rearden's trial was epic)
Good news is you will only have to wait a couple months for part 3. Should be in theaters September.
bullish.
503.
Post 7158892 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
everything is going according to plan poeple
the decentralization of world domination is happening right here right now
you now have supplanted Andreas as my all-time bitcoin hero.
504.
Post 7159007 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
stuck at 660. number of the bees base?
660 is the new bottom
jk of course, but we are still in "the channel"
of course, it's only a matter of time...
*edit* apologies for uber-bullish sentiment, but I'm listening to this right now and it's got me pumped!
https://www.youtube.com/watch?v=wobiTJUoyLk <- it starts slow but give it a few minutes...
505.
Post 7159972 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Some of the posts like yours cause me to project that it is fairly probable that BTC prices will remain in the current $620 to $680 channel for a few weeks.... and the channel will narrow... then it seems more likely that the break in BTC prices will be upwards, rather than downwards.
you gotta make up your own mind about down or up, I just think that when it happens, it will be violent.
...and yeah, probably up
506.
Post 7175785 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
The fight is on with low-medium volume!!!
Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!
we are still comfortably within the channel.
continue to sell the spikes and buy the dips.
until we break this somewhat random formation of lines I chose, that's what I'm doing.
507.
Post 7175888 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
The fight is on with low-medium volume!!!
Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!
we are still comfortably within the channel.
continue to sell the spikes and buy the dips.
until we break this somewhat random formation of lines I chose, that's what I'm doing.
Your bottom line is wrong. Connect the 3 bottom spikes. That's a much stronger line of support, and it's also much more bullish.
I prefer to ignore that spike through the bottom. I'm not good at TA, so I trust my feelings a little more than others might. I think I heard someone refer to that once as "trading naked"
anyways, here is the chart with the line you suggest.
only time will tell...
508.
Post 7175970 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Your bottom line is wrong. Connect the 3 bottom spikes. That's a much stronger line of support, and it's also much more bullish.
I disagree. The bottom line is based on high volume bearish candles for good reason.
The recent low candle he wasn't including before has more volume than one of the lows he
was using.
These touchpoints are chosen pretty much randomly, just by feel.
please do not read into them more than that/
509.
Post 7176036 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
You need to understand that whatever lines of support/resistance is used by the most money becomes the most valid. Most financial markets are keen on drawing lines connecting 3 or more highs or lows. Anything less than 3 is an arbitrary line. If 3 line up, it's much more rare.
ok, I'm not a complete neophyte.
I'm not sure why but I chose the point where I thought resistance had become support as a close enough indicator for my third point.
this may or may not have been foolish, we will have to wait to find out.
your point is of course, totally valid. unless the price breaks down below your line, then I agree it is the stronger line.
510.
Post 7185211 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
IMO we are at a point where we have a lot of high net worth, major corps, and invesent funds investing in Bitcoin. The days of huge swings, massive outbreaks, and downward spirals are over. I think we will see peaks and valleys in the range of 2-3% possibly at a faster pace than traditional stocks rise and fall but like I said to many major players now have too much to lose not to control the price. Not only that but if more retailers are to enter the "accepting" bitcoin game then the price has to show signs of long term stability and I think that's what we are seeing here. Long term investment growth, price stability for retailers to enter bitcoin, wider acceptance by the general public who don't have the knowledge or skills to enter a highly volatile market.
That's just my guess, he'll we could be at $1,000 on Monday. Who the hell knows.
totally, this market is sadly starting to act more mature.
at least we'll always have altcoins
511.
Post 7207282 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Have you noticed the drop in hashrate lately.
yeah, sorry about that, I had to go out of town for work, just logged in to see that one of my miners is off-line
just keep the price steady for me for a few days and when I get back I will rectify the hashrate problem... promise
512.
Post 7207388 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Have you noticed the drop in hashrate lately.
yeah, sorry about that, I had to go out of town for work, just logged in to see that one of my miners is off-line
just keep the price steady for me for a few days and when I get back I will rectify the hashrate problem... promise
Hashrate
always sometimes drops after every difficulty increase. Nothing unusual
ftfy *edit - unless by hashrate you mean the rate at which blocks are found, in which case, my apologies*
and, in other news, the hashrate is still growing, but at least the rate of growth of the growth has been negative for some time,
still waiting on Neptune release though, that should pump it up once again.
513.
Post 7213325 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
we are still comfortably within the channel.
continue to sell the spikes and buy the dips.
until we break this somewhat random formation of lines I chose, that's what I'm doing.
Your bottom line is wrong. Connect the 3 bottom spikes. That's a much stronger line of support, and it's also much more bullish.
here is the chart with the line you suggest.
only time will tell...
*edited for brevity*
The original channel is still holding strong. Until that upper or lower resistance gets taken out, I think the fireworks will be put on hold.
Looks like it might be a cruel, cruel summer
514.
Post 7223557 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Bitcoin is disappointing us negatively this week.
The poll still seems rather bullish!
That's the problem, everybody is already loaded and have no spare FIAT to buy more.
Actually I do have some spare, but I have spread them out from 450 - 550.
Always helps to keep a bit of fiat for the sharp drops.
I always try to do the same thing, it's only when the price drops precipitously that I run out of fiat.
If the price takes off and goes up and up, I leave the fiat there, which allows me to sell bitcoin to friends without taking any volatility risk. (though none of my friends or family have asked for any yet)
I used to wonder why they all still refuse to jump on the bandwagon even after watching the price rise year after year. Most say it's too risky, and yet they have their entire life savings sunk into mutual funds and RRSP's
- and then all at once, RUEHL's comment below made it clear to me.
I agree. I had the opportunity to buy BTC at $11 back in 2011 BUT I wasn't ready and didn't know the fundamentals why it's so great. I probably would've sold at the $18 or $30 peaks.
Years later I'm ready, I understand the fractional reserve system and how the central banks have their dirty hands in all recent major historical events. Now I understand it's a long term hold and with any hope, there will be no need to convert to FIAT.
I seems to be quite useless to try to explain why bitcoin is a good thing to anyone who does not understand the current fiat system. And equally useless to try to explain the problems of the current system to those who depend on it for their livelihood.
515.
Post 7232201 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
(By the way, until the 1980s many people were quite certain that the linear programming problem could not be solved in polynomial time, because many bright people etc. etc.. Some even had started to build a theory of "LP-complete problems". Then a Russian mathematician found a polynomial algorithm, by thinking out of the box.)
Still to this day, apparently some people are quite certain that a solution to the problems of digital money could not be solved.
Others prefer to think out of the box and ignore the naysayers and are currently building such a system as a kind of "proof of concept"
Sorry, I really didn't want to get into this, and I gotta go so I can't even monitor this thread today, but I just couldn't resist.
516.
Post 7242574 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Look out for free beers on the Wall Observer ThreadCheers! I used this as my opportunity to learn how to sweep a private key. Not as difficult as I thought it might be.
I will be sending out free beers like this at random times (11am - 11pm EST)
read this thread with a device ready to scan and spend a private key fast and you'll undoubtedly get really dunk of all those bits!
PM me if you would like to contribute the free beer fund, all funds collected will be past out as free beers.
1. log in to your blockchain.info account (there is a page to import private keys )
2. in a new tab goto:
http://zxing.org/w/decode.jspx3. when a beer shows up, copy the image url and decode
4. copy the decoded private key and paste it in blockchain.info. Click "sweep key"
5. order a cold beer Wink
so it's pretty much just quickest on the draw?
it's brilliant actually, it will draw many eyes to this thread, and many refreshes to bitcointalk.org *edit - also great incentive for noobs to learn how to bitcoin*
if you could fork the wall observer to some site that could monetize this and slide the proceeds into the beer fund that would be epic.
either way, you're a legend.
cheers bud.
517.
Post 7243082 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
sweet! it worked!! thanks!!!
(not really, I didn't claim it
)
but it just got me thinking that anyone who says "thanks" would be linking their
avatar account with their public address. so just make a new address before you spend I guess is all I'm saying...
I also advocate that random people just say thanks to obscure the bit-trail.
518.
Post 7243158 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
wow, adam's offering free beers and you could drop a pin in here
(guessing everyone is now trying to figure out how to import private keys
)
so I'll take this time to post a chart
those are *almost* completely arbitrary lines I drew a week ago, I think we could go sideways longer than most,
I'm also not certain that this will break to the upside, but that's probably just me hoping for another chance at sub-500 coins...
*(edit cuz I missed rudy's post)*
damn, 1 second late
pre-paid drinks are super cool idea now powered by bitcoin
did you try and it failed?
519.
Post 7243294 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
did you try and it failed?
no Fundz - 0.00150771 already gone
is'nt that like 15 thousand bits on facebook?
520.
Post 7243396 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
(You are not referring to the P != NP conjecture I suppose? It is just as uncertain, but it has absolutely no relevance to those two assumptions in the bitcoin protocol.)
I am. And it has. At least to 'what the protocol can handle in principle being thrown at it', not 'what the protocol is and does right now'. As long as there
are problems that are hard to solve but easy to check, the protocol can be adapted to the threat that a particular problem turned out to be easy to solve after all.
First, let me say that I was just reacting to that "pure incorruptible mathematics" bullshit by the reporter. I am
not arguing that the lack of mathematical proof iis a flaw of bitcoin. My skepticism does not come from that "flaw" (or from any other strictly technical issue), but from political/social/practical problems, for which my probabilities are obviously different from those of most people in this thread.
As for the P != NP conjecture, I do not need to tell you that it makes sense only if the problem instance size n is allowed to go to infinity, since the difference between polynomial and superpolynomial appears only in the limit, when n is "just about to get there". The two classes are indistinguishable if one assums that n is bounded, say n < 10^500. But the bitcoin mining problem and the signature forging problem have a fixed n, threfore only a finite number of instances; in that case, complexity theory says that both problems are trivial and can be solved in constant time (e.g. by a simple table lookup). Obviously this theoretical conclusion is irrelevant to the practical question.
The sad fact is that theoretical computer science does not have any tools yet that can provide useful lower bounds for problems of fixed size. Even assuming P != NP, there is no way to prove that the current protocol, with specific key and hash sizes, is safe. It may even be the case that forging a bitcoin transaction signature is easier than checking it, or that finding the right nonce for a block is easier than computing SHA256 twice -- independently of whether P = NP or not. We simply do not know.
If someday one were to find fast solutions for those puzzles, then complexity theory indeed says that there must exist safe replacements for them -- assuming P != NP, of course. But the theory cannot identify those replacements, not even tell how many bits one needs to use in keys and hashes to ensure that inverting those functions is hard enough. Conversely, even if P = NP, the current protocol may be safe, or there may exist safe alternatives for those two puzzles. (As you surely know, "polynomial" does not mean "computable in practice", and "superpolynomial" does not mean "impossible to compute in practice".)
The difficulty of those two puzzles, for the currently chosen key and hash sizes, has been verified only experimentally, by tests that have ruled out some weaknesses that people have thought of checking. (For a trivial example, someone surely must have checked that the leading bits of the block hash are not linear functions of the nonce bits, not even approximately.) However, a thorough check would require testing all possible algorithms (or boolean circuits) up to some large size, for all possible inputs -- which is totally outside the realm of practicality.
With no
known shortcuts, exhaustive enumeration is pretty much the best way we
now have to solve those puzzles. That is all one can say about the issue.
much better
some guy once said "if you wanna be a good writer, write what you know."
*I'm paraphrasing of course*
521.
Post 7243623 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
1W MACD bout to cross
lower limit of the channel being challenged!
I have buy orders that should be getting filled as we speak! (*edit - nm, virtex still over 700 and just recently had a spike to 745, damn Canadians just can't keep it in their pants. *)
522.
Post 7243667 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
how does the saying go?
"when the wise man points at the moon, the simple man stares at the finger."
523.
Post 7244059 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.51h):
Im commenting on that something seems off at Bitstamp...
3d Bitstamp ->2%, Bfx -<1%, Huobi -<0.5%
Every time the other exchanges rally, there is nothing going on at Bitstamp.. which results in this.
It is new that Bitstamp is below Huobi and about the same as btc-e. If it continues to stay significantly below other exchanges, then I will start to worry, but this is probably just somebody dumping a large stash on Bitstamp.
I am wondering about the same - it happened couple of time in the last days. Perhaps Chinese coins being dumped?
I think maybe some people on stamp were a little perturbed by being virtually "frisked" and said "screw you guys, I'm going home"
https://www.youtube.com/watch?v=MTc3zcnIZOwstill, going to take down the whole market a bit, we'll see if it can break the channel.
*edit - stupid virtex still over 700 *
524.
Post 7244582 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
Android was OS
RND function weakened.
but a good crypto collects randomness from many places so it only effected code that relied too much on rnd function.
I believe Steve Gibson is working on a pretty good approximation of true randomness with his SQRL project.
but I think the underlying point is that, if a flaw is found, the system will be rolled back or rebuilt from the ashes, better and stronger than before.
I'm not certain about the future of bitcoin in this iteration, but the
idea of Bitcoin "is too big to fail"
hehe, couldn't resist
525.
Post 7261610 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
idk about you guys but i've been buying
Just checked the daily low on virtex, looks like the top of my tranche should have been filled at 671... finally
Can't remember where my next bid is at, probably around 666 or something.
Edit: whoops,
maybe I got two bids filled :: just got home and checked, nope, second order was at 655, missed the bottom by 6 bucks... this time.
526.
Post 7264170 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
I sent over some extra fiat to Bitstamp, yesterday.
Hope it gets there on time to buy up some cheap coins ...
I'm hoping right along with ya.
Actually I'm thinking I'm just gonna wire 500 bucks every paycheck until we go above 800 (CAD on virtex)
527.
Post 7264619 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
based on a potential fractal I noticed.
please tell me this fractal is from 2012
seriously, just add a couple zero's onto those prices and boom! it's like time travel!
528.
Post 7280216 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
What are the bad news that makes the price falls?
Where do u live ?
FBI selling SR seized coins
.
That´s not true. Legally they can´t sell them on an exchange, only in an auction... And why it´s bitstamp 550 and huobi 600? That makes no sense.
The market sells in anticipation of auction buyers liquidating coins on exchanges for arbitrage. Keep in mind that market prices are the prices of "tomorrow", not today.
The thing is, bidding hasn't begun yet, and bids will likely be weighed against market price at the time of bidding (assuming arbitrage was the goal). Bidders must factor in risk of what other bidders are going to do with the coins, or market movements in the days it takes between bidding and taking possession.
In my opinion, the market has already overreacted to this news, meaning I think the price is lower right now than it will be in 3 weeks or so. 30k coins might seem scary for someone who's staring at a chart on one exchange and imagining them all coming down at once, but that's nowhere near the reality. I'd be surprised if half of them come down at once, and even more surprised if that were all on a single exchange, let alone any exchange at all. Half of them represents about 4 days worth of new bitcoins from mining alone.
If you haven't sold into the panic yet, you're probably too late to capitalize. Maybe you'll get another shot as distribution day approaches, maybe not. If you DID panic sell, start looking to get back in, because it's probably not going to get much better. Take your profits, pat yourself on the back.
what do you think of the possibility that this was just some large holders liquidating to get their funds in order to place bids on the auction?
529.
Post 7280975 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
If we rebound now it's like SR all over again.
you know what? when SR first got busted I thought that if they actually ever went through on the auction it would be bullish.
I thought that it would give bitcoin an air of legitimacy in the public eye that their gov't is earning 15 million dollars from selling bitcoin.
This auction should get a TON of news, and it shows the impression that the US gov't is totally fine and comfortable with buying and selling bitcoin.
It would be so cool if this is just a SR type dip. These
are the silk road coins after all.
530.
Post 7281502 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
$600 in 3...2...1....
lol, market is indeed looking up, just a dead cat bounce, or is this SR 2.0?
bitcoin: never a dull moment.
nice little wall at stamp at 586 atm
531.
Post 7281627 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
If we rebound now it's like SR all over again.
you know what? when SR first got busted I thought that if they actually ever went through on the auction it would be bullish.
I thought that it would give bitcoin an air of legitimacy in the public eye that their gov't is earning 15 million dollars from selling bitcoin.
This auction should get a TON of news, and it shows the impression that the US gov't is totally fine and comfortable with buying and selling bitcoin.
It would be so cool if this is just a SR type dip. These
are the silk road coins after all.
By selling the bitcoins, the government is setting and or affirming the legality of bitcoin.
even better, it sets a precedent favourable to the ultimate fungibility of bitcoin. It shows the impression that there will be no black-listing of coins.
after all, if the gov't can spend their ill-gotten gains, why can't the rest of us?
532.
Post 7281690 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
Smell that $666? Mmmm mjes I can. Lets go bishes.
slow down there pard'ner
we need to eat the wall at 586 first, then digest for a while before tackling satan again.
533.
Post 7281700 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
Stamp 586
Huobi 614
pretty sick
holy crap! I didn't even notice!
is stamp really sick?
finex 610
btc-e 595
virtex 640, lol
534.
Post 7281811 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
Stamp 586
Huobi 614
pretty sick
Shouldn't arbitrage be eating that wall away?
Unless there are some real problems at stamp... have you seen the requirements for stamp accounts lately?
but yeah, it's not only that. I blame the legacy banking system for the current inefficiencies in the market.
I wish someone on a TV interview, when asked that dreaded question "but the volatility..." would just get up out of his chair and yell into the camera.
"If you stupid looters would just let us do our business in peace, we could effectively arbitrage the system and absorb shocks and provide stability.
We are only being held back by your interference!"
535.
Post 7282271 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
Anyone guessing where the bottom is to this downtrend?
I can only guess, but I thought this pic was interesting.
it looks on the visible bid depth that there's no real support until 3600 or 3650.
what are the chances that there is a huge-ass hidden chinese wall at 3700?
I think down is done.
536.
Post 7282628 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.52h):
600> within 12 hours
if support holds, maybe.
if support fails...
537.
Post 7299678 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
In the meantime..
congratulations, I hate spainish football, so defensive and boring.
538.
Post 7299895 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
the double bottom is in
we are way over sold because of FUD 30K BTC is not going to kill bitcoin
all you fools that are manipulated by market depth are about to get schooled
I feel like the drop was mainly due to 51% attack fear.
I wish someone would just attempt a real 51% attack already and prove how futile or destructive it is.
seriously, if it's such a big problem, then how can you ever trust the blockchain with your life savings? until it is tried, and defended against, it will always be a potential "deal-breaker" for bitcoin. kinda like the fork that happened a while ago. (that moment is also the reason I'm still mining at btcguild, even though we're getting crushed right now) - but I am thinking of creating a ghash.io account and pointing my negligible hashrate over there just so we can see what happens...
If there is
anything that can break bitcoin, it is better to get it out of the way now, better than later...
539.
Post 7299975 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Worst a 51% attack could do is halt confirmations of all transactions until the hashrate drops. Not really a problem.
that's still a dos attack, and that's still a problem
also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem
540.
Post 7300031 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Worst a 51% attack could do is halt confirmations of all transactions until the hashrate drops. Not really a problem.
that's still a dos attack, and that's still a problem
or like within 10 minutes.
I'm not sure I understand, if the hashrate drops significantly, it could take longer than 2 weeks for it to adjust.
blocks would be very slow in the meantime,
it's still a denial of service attack.
is it not?
541.
Post 7300204 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Worst a 51% attack could do is halt confirmations of all transactions until the hashrate drops. Not really a problem.
that's still a dos attack, and that's still a problem
or like within 10 minutes.
I'm not sure I understand, if the hashrate drops significantly, it could take longer than 2 weeks for it to adjust.
blocks would be very slow in the meantime,
it's still a denial of service attack.
is it not?
When the POOL'S hashrate drops.
ah, ok, so they drop below 50 and the attack is dead?
my point is that the
possibility of the 51% attack is something that needs to be addressed. so we either test it and find out now, or we just sit around and talk about it until some time down the road
someone pulls it off and kills the network?
542.
Post 7300343 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
"kill the network"
Didn't we just go over this
sorry, by "kill the network" I mean that enough distrust will build up and people will move their value into another medium of exchange.
543.
Post 7300452 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem
The block withholding attack might actually end up being what limits the size of pools in the end.
If it's no longer safe to accept random members of the public into a pool, then the pool membership needs to be limited to trusted hashers.
This means a larger number of pools for a given number of hashers.
I used to really like small pools, until the hashrate started going nuts.
when your profits are being cut by 30-40 percent every couple weeks (every 10 days sometimes) it's hard to stay at a small pool that is having a "dry spell"
having said that,
305673 5 minutes 150 638.12 BTC BTC Guild 86.09
305672 8 minutes 193 204.05 BTC Discus Fish 115.96
305671 10 minutes 351 477.82 BTC BTC Guild 202.79
305670 22 minutes 394 973.33 BTC GHash.IO 193.73
305669 32 minutes 447 1,595.25 BTC GHash.IO 290.72
305668 42 minutes 111 798.10 BTC GHash.IO 91.57
woohoo! btc guild! stuff it in their stupid ghash faces!
544.
Post 7300983 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
exactly right buddy!
oscillations
up or down, only 2 directions in my mind, moon or bust!
545.
Post 7301480 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
546.
Post 7309940 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
ahhh, those beautiful blood red waterfalls.
I was beginning to worry that the rest of my bids would go unfilled
547.
Post 7310070 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
a
greed.
not gonna panic just yet...
548.
Post 7310241 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
So should I continue to even bother writing this donation-ware program for bitcoin? Or will bitcoin be dead by the end of the week?
Also a recap of why the drop happened would be nice.
My understanding is:
- China fud (even though they didn't lead this drop whatsoever and from what I can tell they still are not)
- ghash.io was close to 51% but is now 43%
-sr coins for sale by fbi. But isn't it a good thing criminals got cleaned out?
Am I missing something important? Or is this the weak hands shake down.
sorry bud, bitcoin doesn't need a reason
549.
Post 7310470 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
wow chartbuddy, that's the choppiest graph I think I've ever seen you post
550.
Post 7310706 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Just remindin y'all: The monkey is still planning to reverse his daily basis btc short to a long position 3 days hence.
Monkey advises holders to hold, traders to trade, and haters to hate, that the cup be filled. Drinking comes later. He said this while seated in lotus position, and I could almost have sworn that there was a 2cm air gap between him and the floor.
551.
Post 7326258 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
so I was looking at finex and noticing this.
top line is drawn on exp chart, bottom line is on linear.
I'm trying to target a buy-in price, but of course I want to wait until I can be fairly certain the price will not go down any further, at least not much further... but
if the price breaks down below the linear line, I think it could go much, much lower...here is the zoom out to see where the lines come from.
these are just random thoughts of course, but Sunday's are nice for me and give me time to think random thoughts.
552.
Post 7327091 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
if you're looking for an entry point on the dip DON'T
<snip>
PS: this could very well be as low as it goes...
could be, and after my 595 bid got filled and it didn't look good for going down much further (virtex of course) I did pull the rest of my bids and got them in at 596.
so now I've run out of fiat. more is on the way, but probably won't clear until mid-late next week.
I like every buy point below 800 actually, from long term perspective, but I'd always like to maximize if I can.
553.
Post 7328897 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Objectively, what are our chances of going lower?
objectively? about 50/50.
554.
Post 7353310 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Inspirational Buy All the Bitcoins SpeechSons of the internet, I am AdamStgBit, and I see a whole army of my countrymen here in defiance of closed source centralized systems, you've come here to buy and sell on the free market, and a free men you are ( expect for Jorge, sadly...). What will you do without FREEDOM!?? WILL YOU BUY!?
"No! No! we will sell and/or hope for lower prices, if not, least we'll have some fiat, to pay the bills"
Ya ok, buy now and you might lose, sell now and you'll have some fiat to pay the bills.
At least a while...
And drowning in debt many years from now, would you be willing to trade all the days from this day to that, for once chance, just one chance! to come back here and tell the bankers that they may take our mortgage payment directly out of our accounts without asking, and even take the house after taking all our money, but
they'll never take our BITCOINS!!! 
even though I'd like to see some blood red waterfalls right about now, that was well done.
https://www.youtube.com/watch?v=Lzl5t1Sracc
555.
Post 7370923 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Hubris, prof. Hubris.
I don't recal if I mentioned it here, but a few years ago Fiat Brasil switched to using cast iron instead of steel for the rear wheel hubs of some model. The hubs would fatigue-crack after some time, more likely when driving at high speed on highways. Several fatal accidents happened before the government forced Fiat to do a recall and replace those hubs.
Once I met at lunch the prof from our Mechanical Engineering dept who wrote the report that pointed out the problem and eventually convinced the government to order the recall. It was not a easy struggle to overcome the Fiat lobbyists and lawyers, and I don't think that he got more than his expenses refunded.
That prof saved lives, perhaps hundreds of them. I will feel good if I can save the economies of a few people from the types of Mark Karpelès, Daniel Brewster, and Barry Silbert.
just a thought experiment.
just in case bitcoin goes over 10,000 in value before the next block-halving.
how would you feel about the people that have lost that much purchasing power just because they were holding their wealth in fiat instead of bitcoins?
(*edit to address Karpeles and crew: I don't trust any of those guys either. Luckily, because of bitcoin, I don't have to.
if you would spend more time learning and teaching the bitcoin protocol, your life might be more productive, and perhaps even more fulfilling. <- please note, I do not mean to be malicious. Lord knows I am wasting my own talents away at an alarming rate, so I'm not trying to throw stones, I'm just sayin' that a protocol that allows people to be in control of their own money deserves attention.
perhaps you could help the *everyman* more by teaching him how to aquire, store, and spend bitcoin safely and securely instead of just repeating "bitcoin's bad, mkay?"
556.
Post 7371887 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
looking good
not so fast, here's some fud.
http://www.coindesk.com/kncminer-unveils-20nm-neptune-chips/a whole lot of mining power about to be shipped. another 51% attack scare on the way?
ah, who am I kidding, I suck at FUD.
CCMF!
557.
Post 7371968 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
'tis nothing, scrypt asics will make this kind of thing obsolete.
I wonder how monero mining will do, since it seems to be quite ASIC resistant, and the anonymity factor should be a bonus to would-be botnet miners...?
558.
Post 7390765 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
Silver in 2010 - 2011 had a mania phase, of course not as manic as bitcoin.
Had a wave A in 2011 - 2012, wave B in 2012, and now seems to be still in wave C (back to pre-bubble price).
. his view of the s&p is utterly apocalyptic, more so every day. what a gloomy monkey!
but, he is increasingly long btc now, after being short last week, which was a respectable call. intraday he thinks this is a good time to buy.
i could wish he had not gotten so wishy-washy about USDJPY. i closed my short a missed a big move south.
monkey wants oil to go down now on a daily basis, at least a week.
emphasis mine
I really hope the monkey is right about silver - unless wave 1 means down
- in which case I think that monkey deserves a spanking
seriously though, silver is looking like the only hedge I have against bitcoin.
(and perhaps some monero on the side
559.
Post 7390991 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.53h):
I want to buy some cool silver coins with a few bits myself. but i'm going to wait for 17$ at least. I think 13.8 within 24 months is in the cards for silver, that will be the low... i wana buy on the low...
yeah, I don't know about 13.8 - I bought my fill at 20. though if it hits 15, I'm sure my appetite will return.
560.
Post 7409698 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Now I see. Trying to get market participants drunk so they fill with irrational exuberance. By all means, continue!
He's Canadian, it's how they do.
561.
Post 7409724 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
I'm starting to wonder if I should be following finex instead of stamp.
finex has been my primary for at least a week now... probably just because it tends to fit my random lines better.
as you can see, I am clearly expecting a re-trace to somewhere near the 555 range.
562.
Post 7409968 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
am I the only one who thinks the price will stay 580-620 until after the auction in order to have a "low" starting price for bidding? I'm surprised people aren't more bullish about the impending auction
I don't think the people bidding on this auction are the type who want to get involved in market manipulation, or not at least for this tiny amount of money. Also I don't think the amounts involved are big enough to warrant market manipulation. It might not even be profitable let alone worth the risk of committing a crime.
personally, I think the people that have the wherewithal to make a winning bid on this auction have a longer-term view than the ones who are currently trading and making the market.
I think the chance of these coins getting "flipped" on the exchanges after the auction are lower than the chances of the losing bidders buying back in at market prices.
but that's just a complete guess.
563.
Post 7410176 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
am I the only one who thinks the price will stay 580-620 until after the auction in order to have a "low" starting price for bidding?
There is no "starting price". Each bidder submits one sealed bid, for 1 to 10 lots of coins, and that is it. The USMS may cancel the auction at their discretion, presumably including if if they get only "joke" bids, but I haven't seen any explicit minimum price in their announcement.
http://www.usmarshals.gov/assets/2014/bitcoins/I'm pretty sure the prof is accurate in his assessment of how it will go down.
Still doesn't change the fact that this is a closed system where only the bid takers know the price of the big makers. such old-school black-box type operations.
Transparency and Privacy, and all that grey area in between.
564.
Post 7436434 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
I think the blockchain.info bitcoin days destroyed chart is looking interesting. There was a spike up when the SR coin auction was announced, plenty of old coins got cashed out to raise money for bidding in the auction I guess. But as of yesterday the 7 day average has moved all the way down to a low point where it was in mid-May prior to that big rally move starting.
Of course I can't give any advice, I can only say what I think, and I have a large probability of being wrong, but I'll take this opportunity to spew out some nonsense anyways
I think this window might be the last chance at cheap coins.
once the auction is over, I suspect that those auctioned coins are not going to be re-sold any time soon.
I also get the feeling that any entity that is participating in the auction and does not win their desired amount of coins, will add to the buying pressure (I'm sure they won't immediately buy and spike the price, but I think they should be buying dips at the very least...)
I think that many coins might have been sold in the previous and coming weeks in the interest of both keeping the price low, and also securing enough USD to place a bid.
it's a risky situation, but that's what these people (the kind of entities that would be bidding for blocks of 3K coins) do for a living.
always remember to actively monitor and consider your risk exposure.
565.
Post 7436670 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Agreed. We the company will give you more leverage so we can make more money, and will give you automatic credit line and charge high interest loan rates. alot of these exchanges have fake and low volume so thats why they make the dough through the spread and ripping off customers.
Yep, offering fractional reserve leverage with illusory fake volume, with the exchange feeling safe in the knowledge that they will be able to shake a certain percentage of the would be winning trades out of the game through the inside farming of stop losses and such, that it makes it all a worthwhile and profitable endeavour in the end, no matter what way the market goes.......worthwhile for the exchange that is.
might be the first time I agree with you on anything, but in this case, I think you have gotten it right.
exchanges can skim profits from fees, and also have valuable information and ability to act profitably on that information.
exchanges or "money changers" are just another inefficiency in the current system.
it would be nice if we could reach consensus with a single currency and cut out the money changers, but I feel that exchanges of some type will likely always be necessary.
we will soon have thousands of currencies to change into and out of, and the ones facilitating the trades are going to profit. but I guess that's the cost of the freedom to pick your currency of choice?
566.
Post 7436910 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
When you are pseudonymous slander and libel can flow freely. until theymos gets a subpeona at least. If I were a bfx owner I would try to squeeze MatTheCat for a few hundred coins in court.
really?
If I were a bfx owner I would just be glad that mat continues to advertise for them in his sig. (unless of course if they were actually paying him to pimp finex in his sig, in which case I would cancel that contract, lol)
567.
Post 7436969 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Anyone have an ideas on why bitcoin is so polarizing? Either you love it or you hate it, not many are in between.
sure, I'll take a shot...
just change "Either you love it or you hate it" with "Either you get it or you don't"
done
:edit: - I think the real barrier is that in order to understand why bitcoin is good, you need to first understand how the current fiat system truly works. - good luck explaining that to someone whose livelihood depends on the current system and then you will understand the problem that is faced in the "adoption gap" of bitcoin.
568.
Post 7437819 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Anyone have an ideas on why bitcoin is so polarizing? Either you love it or you hate it, not many are in between.
Well, either it will "go to the Moon" (i.e. its price will get much higher than now, and keep rising at least
5-10% 500-1000% per year) or it will collapse to 0. There is no viable long-term scenario between those two. So, one's attitude towards bitcoin depends on which scenario one believes in.
fixed that for you
569.
Post 7453668 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Just 24 hours ago he and the other usual trolls where crying like crazy because i felt the price was being kept down.
I mentioned how these losers are the first to cry about manipulation when the price goes up 10 bucks.
Well, there you go.
They're not even trying to hide their stupidity. Unbelievable.
Market gets manipulated and squeezed in both directions. Which is why they say that the little guy should never try and trade a flat market.
Exchange insider sharks know which way to push the market in order to empty the most fiat into their pockets and if there is basically no trend to speak off, it is much easier for them to do this and the only way they can continue to turn a profit.
love the new sig btw.
570.
Post 7459684 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
“Such a return is pretty secure,” Chen said. It’s “virtually riskless.”
lol indeed.
571.
Post 7459762 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
huobi looks too flat for too long
I don't like this one bit
572.
Post 7478431 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
To the moon in 2 or 3 months for sure
Welcome to the forums and welcome to the thread, and consider this lesson #1 for bitcoin. Nothing is "for sure"
573.
Post 7478805 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
[ ] bitcoin is alien
[ ] bitcoin is quite perfect
[ ] bitcoin is supernatural
[ ] god
[ ] devil
[X] none of the above but trading behavior is guided by lines drawn to define limits
edit :
XI like drawing random lines...
just imagine
those lines don't converge until 2015 or something.
and yet, until they get broken, I'm probably not going to trade very much, currently have almost all fiat and crypto out of exchanges and on the sidelines.
574.
Post 7479274 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
until they get broken, I'm probably not going to trade very much, currently have almost all fiat and crypto out of exchanges and on the sidelines.
I hope you don't trade when the upper line is broken. After 800 there is no resistance to speak of.
I'm just saying, I won't be sending my coins back into their hands until I think the risk is worth it.
if that upper line gets broken, then I'm back to risk on and I will be looking for opportunities to sell.
*fantasy land edit* not selling at 800... I am planning a tranche starting at 1200 and going to 5000, at which point I will just stop and hoard the rest, just like last time, and the time before that, and the ... hehehe, sorry, couldn't resist.
no real tranche planned for the downside though. I guess I've bought my fill.
If it goes down, I guess I'll go down with the ship. *or maybe transfer into some interesting alt-coins*
575.
Post 7498741 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???
Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.
I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the
VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.
I like lines!
which line were you referring to exactly?
this line?
or this one?
or some other line???
576.
Post 7498989 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
i see there was some bouncing around while i was gone
strong bounces, this thing is pretty much ready to move!
I'm expecting either a strong bounce from this line
or more waterfalls...
or just sideways 'till the auction
or, I really don't know anymore, I started listening to some guy talk about consciousness and reality and watching bitcoin prices and wondering about the relation between adoption and valuation and how a "particle" approaching a pair of slits is not really a particle until someone has observed and taken note of which slit it went through, recording the information in our consciousness, and how that is similar to a transaction before it is recorded in a block. Once recorded in the blockchain, that transaction is
REAL ... or at least real in the terms that we can perceive it from within our own little reality bubble.
sorry for ramble, need more beer
577.
Post 7499095 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
The bitcoin market is very emotional. It moves up or down on whim. The SR coins are just an emotional thing, I think. For some reason people think that the price the 27k coins are sold at will set a precedence for the coins going forward.
well, I have to admit that to me personally, the auction is the most interesting thing going on in bitcoin right now. (second place, mining, third place, sci-fi physics mumbo-jumbo)
578.
Post 7499339 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.54h):
Once recorded in the blockchain, that transaction is REAL
I'm sorry to be the bearer of bad news, but this isn't true.
Transactions in the blockchain never become fully real, because Bitcoin doesn't solve the distributed consensus problem. Nothing solves the
distributed consensus problem because it's not solvable.
Bitcoin
almost solves it, and transactions asymptotically approach a completed state, but no transaction is ever truly confirmed.
Close enough for practical purposes, though.
very well put, and emphasis mine.
I also anxiously await, and almost fear, a provable computational way to fix that problem.
but the
distributed consciousness problem is eerily similar.
579.
Post 7500378 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???
Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.
I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the
VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.
I like lines!
which line were you referring to exactly?
Yes that one pretty much
If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash
that trend line
What are your predictions for 2014?
not sure if your were asking me, but I'll spew out some nonsense at the slightest of opportunities
here is a zoom in of that same line - not the same line wanderer was showing, the other line I posted earlier... oh bother - I'm not sure, it might be the same line after all
my best guess is bouncy time, I'm not feeling anything being resolved until the auction is sorted out.
(edit - by bouncy time I mean a bunch of dangerous chop, not like trampoline bouncy to the moon type stuff, not yet.
580.
Post 7518768 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
That one company already offered to buy all 25k coins for spot minus 15 percent. When is the last day for bidding? If they still can bid, Im betting the majority will be purchased at about that rate.. just under spot.
Why is everyone so obsessed with this? The last 30 pages all people talk about is at what prices the coins will go? How is it even relevant? Someone may bid 550 now and we'll be at 500 tomorrow. So he is buying expensive coins and vice versa. It doesn't make any sense that the price of these coins are turning out to be the most important event if the year.
its happening news!
There is way more news out there, way more interesting and relevant.
link?
This auction is the most interesting thing in bitcoin to me right now. what do you have that is "way more interesting and relevant"?
I think the highest bid will be over 600 and the price of the auction will get leaked (I've never seen a more leaked "private" auction in my life) and then the market will spring in step to at least 800 before taking a breather.
but shroomsy is right about one thing, nobody knows what the fuck is going to happen until it happens.
581.
Post 7519932 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Fact: Before bitcoin you had to trust banks and governments with the money.
another fact, and I don't want to be a downer, because it looks like the party is on... but I think it's important to consider...
those with power will leverage that power to retain and prevent power from slipping from their grasp.
I don't know what's going to happen, but I think we should all keep our wits about us.
------------------------------------------------------------------------------
and now that that's over, on with the show!
bulltrap incoming?
582.
Post 7519977 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Fact: Before bitcoin you had to trust banks and governments with the money.
another fact, and I don't want to be a downer, because it looks like the party is on... but I think it's important to consider...
those with power will leverage that power to retain and prevent power from slipping from their grasp.
I don't know what's going to happen, but I think we should all keep our wits about us.
------------------------------------------------------------------------------
and now that that's over, on with the show!
I am sorry, I can read charts well.. What do you mean by party is on? Is the price gonna fall more?
I just mean that it's more exciting when the price is moving.
I have no position in this market, other than hoarded bitcoin that I will not sell at any price below 800 CAD.
583.
Post 7520098 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Freedom requires possibilities. Our possibilities are limited by our awareness, oftentimes. Exogenous stimuli often serve to draw attention to those possibilities, and thereby compound our freedom.
if only 10% of the population can gain enough awareness to comprehend that thought, then my outlook for the future becomes much brighter.
it seems as though the process has started, but a long way until the "tipping-point" I fear.
584.
Post 7537956 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
time to buy all the bitcoins?
too soon?
nope. right on time!
https://www.youtube.com/watch?v=4lOb799cTxM
585.
Post 7538217 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Does anybody know the details of the FBI auction?
Will we get to know the price the BTC are sold for? How long after winning does the highest bidder have to wait to get the private key? etc?
not sure if we'll get details on the price, but I believe the bids are being placed by email (lol) and if recent history is any guide, I expect the USMS will simply hit "reply all" with the private keys
586.
Post 7539804 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
$800 by the end of June
Can i get a amen confirm?
end of june is only 4 days left
and $800 (38% rise from current price) is mostly difficult to see
back to $666 first is better idea
yeah, 800 in 4 days sounds unreasonable, but I wouldn't bet against it at this point.
if the price comes back down to meet the line and then bounces to the upside? I think the upside move could be violent.
be ready.
*edit* don't take my statements as advice, I like to make all or nothing bets for very small amounts, so I like to pick high risk/reward ratios, like market reversals. but yeah, this is starting to look like a tasty target.
keep in mind, I'm wrong about half the time.
587.
Post 7555799 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
I'm thinking about starting to play with leverage, has anyone checked out btc.sx yet?
588.
Post 7556026 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
btc.sx <- is this ligit?
I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit.
plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all.
just plain old bitcoin betting
I'm seriously curious, has anyone tried this out yet?
589.
Post 7556094 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
WTF MAT?? Why aren't we going doooooowwwwwwwnnnnnnnn??
Don't worry, I just made another one of my impulsive no logic rush of blood to the head trades and went long at $600. So things should start turning to the downside pretty soon I would imagine.
The last carefully considered long position I took was at $560..........but sitting staring at the 15 minute chart with my nose 1 inch away from the screen, I noticed some whale made a big fucking 500 BTC dump, so I cashed out my position at $560...2 days later, $600, some $15 above my $585 target....
See....there we go...down to $593.88 within ten minutes of me taking my long position. You can always rely on the market to go the exact opposite way of these impulse trades that I tend to make and seem incapable of exercising any control over.
obviously below 600 would have been better, but it's still a good bet I think. just try not to sell too early, it's gonna be a rough ride.
Also, I figure you'd be a good one to ask since you trade leverage. what do you think of
https://btc.sx how do I enter a long position if I can't bet fiat?
590.
Post 7556191 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
btc.sx <- is this ligit?
I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit.
plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all.
just plain old bitcoin betting
I'm seriously curious, has anyone tried this out yet?
Why not just use bitfinex? There are futures contracts at icbit.se, and plus500 and avatrade can offer you usd based exposure.
does bitfinex require more than an email address for registration?
591.
Post 7556304 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
btc.sx <- is this ligit?
I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit.
plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all.
just plain old bitcoin betting
I'm seriously curious, has anyone tried this out yet?
Yes I've tried it and it's shit.
I mean technically is legit and all, it's not a scam per se, but the spread is astronomical and it is 1:10 leverage only. Meaning that if the price goes 10% against you (actually less, because of the spread) you get margin called.
Bitfinex is a lot better.
Thanks for the input, much appreciated.
they have 1:5 and 1:2 now as well, but yeah, if the price goes against you, then you lost your bet, it sucks.
if the price goes in your favour, you win your bet and life is good again.
or at least that's how it seems to me, I kinda understand how margin works but I've never done it, so I think I should.
592.
Post 7556541 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Bitfinex never got an ID for my registration. Although I am not fully verified and I take my profits in bitcoin and they go straight to paper wallets monthly. Im sure to set up bank accounts and such requires ID but not for bitcoin/litecoin in and out only.
thank you, that is pretty cool, but I thought I heard recent reports of extra verification required to withdraw bitcoin, even from people who were already registered...
I'm definitely going to check it out tho, thanks again.
593.
Post 7556838 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
it's almost like there's a never ending selling pressure at 600.
almost like someone knows they just won an auction at less than 600
**edit*&&
or maybe like someone just won a bid at over 600 and is trying to raise the funds to pay for the bid?
594.
Post 7557617 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.55h):
Amazed that the prices have been so solid with the auction stuff...as always though HODL
we wont go past 600 until the winning bid is revealed
To late, already went to 604.
It only touched $600 for a few minutes on BitStamp, though, and then went back down.
Point?
point is that sideways motion is the least likely outcome from this.
this is the time to place your bets.
I should have made a bet to fade mat just out of principle, or is it superstition?
anyways, here is my first foray into leveraged betting. *following mat's lead*
good luck and never fool yourself, it's all just bets.
595.
Post 7581479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
And now for something completely different
http://youtu.be/WMQg546agpU
596.
Post 7589579 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
The 500 BTC wall has been there for like a day. Unless it was pulled in between the hours I checked, it never left. It's real and has been getting chewed on a bit. But it hasn't been pulled..... we'll see if anyone is willing to buy it.
Market trying to touch 600 mark again, there is 457 coins wall, I think this time it will break.
I'm not watching it real closely, but it seems to me that it's been more than just chewed, it's been gobbled up a few times and it just keeps getting replenished.
It's a little scary to think that someone has an almost never ending supply and appetite to sell at that level... I actually expected the wall was there to keep the price in check before the auction, but I'm not sure I understand the motivation behind the wall now that the auction is over.
597.
Post 7594443 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
It's nice that my alarms actually worked for once, now how to figure when to close open positions...
Should one just close now and take the profits?
Or do you just let it run and continue to let the fees eat away at profits?
Sorry for noob questions.
598.
Post 7594763 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
It's nice that my alarms actually worked for once, now how to figure when to close open positions...
Should one just close now and take the profits?
Or do you just let it run and continue to let the fees eat away at profits?
Sorry for noob questions.
dear noob. If you're a noob, maybe you shouldn't use leverage.
Also: if you take profit in USD you're doing that bitcoin-thing wrong.
Please consider the option of closing your leveraged long position and just buying some bitcoin outright. No continiual fees attached.
Thanks molecular, sorry I wasn't more clear, I've just started playing with leverage on btc.sx -it's a pure bitcoin play.
I'm all out of fiat, and my mining income just isn't cutting it for me anymore, so I figured leverage looked fun.
Thanks for the advice anyways tho
599.
Post 7611224 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
It's nice that my alarms actually worked for once, now how to figure when to close open positions...
Should one just close now and take the profits?
Or do you just let it run and continue to let the fees eat away at profits?
Sorry for noob questions.
dear noob. If you're a noob, maybe you shouldn't use leverage.
Also: if you take profit in USD you're doing that bitcoin-thing wrong.
Please consider the option of closing your leveraged long position and just buying some bitcoin outright. No continiual fees attached.
Thanks molecular, sorry I wasn't more clear, I've just started playing with leverage on btc.sx -it's a pure bitcoin play.
I'm all out of fiat, and my mining income just isn't cutting it for me anymore, so I figured leverage looked fun.
Thanks for the advice anyways tho
Yeah, I think molecular was a bit harsh here.
To answer your question: going long on leverage in btc is slightly less dangerous to begin with than going short on leverage, but even the latter _can_ make sense, if used very, very controlled.
In your case, you're making a bit of a gamble that I personally wouldn't do: you are betting big (leverage) on a major breakout, but you don't know yet if that'll happen. I would probably suggest to close the leveraged position (and take profit in USD), but (if you have the time) get back into it once the breakout is confirmed. That would for example be breaking the daily SMA200 conclusively, and almost certainly breaking the previous 680 top. In that case, there'd be almost certainly enough upwards momentum to warrant a leveraged long position, even if you're comparably risk averse.
I am however assuming you're not leveraged beyond factor 2 or 3, right? Don't know what btc.sx offers...
Thanks Oda. 'edit=I'm trading 10 to one on experimental size bets.'
Quick question, do you normally have to pay any interest or fee to hold on to a bet that is in a positive position?
600.
Post 7611842 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
Can you confirm a screw up occured?
Didn't think so.
There are several practical reasons they might delay the final results.
For example: it takes a while to get the subpoenas ready. ;-)
601.
Post 7611973 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
It may just be me but “I’m not at liberty to say why" implies something went wrong.
They lost the private key or accidentally sent the funds to the Bitcoin Eater address.
They will likely wait until the bidder's fiat clears before they send, I'm assuming they didn't have to wire funds until they were notified they had won, so legacy banking speed means we might see the coins move sometime before the end of the week?
602.
Post 7613312 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.56h):
$650 on stamp should fall pretty soon. Huobi is acting like it wants a go too.
I dunno, this feels like the chop.
I can't tell if it's moonshot ->
http://www.youtube.com/watch?v=WMQg546agpUor waterfalls? ->
http://www.youtube.com/watch?v=2QptmMGtzo4it's like 'choose your own adventure'
603.
Post 7630676 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
So, playing with margin has been fun, but now all it says is "System buy limit reached"
Is this a normal thing? Or am I getting zhou-tonged?
604.
Post 7630748 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
So, playing with margin has been fun, but now all it says is "System buy limit reached"
Is this a normal thing? Or am I getting zhou-tonged?
Whats your margin level?
10:1using metatrader?
No. using btc.sxHow many orders.
Just closed a bunch of shorts, now can't place any longs.
605.
Post 7630913 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
So, playing with margin has been fun, but now all it says is "System buy limit reached"
Is this a normal thing? Or am I getting zhou-tonged?
It was telling me that the last 2 days. Pretty much there is no more "loans" available, and that all the longs available have been taken. I had to wait until someone sold off when we dropped to 640 the first time earlier today to be able to go long. You just have to try it from time to time and hope you catch it.
Thanks, guess I'll keep trying, but it's really frustrating.
606.
Post 7631578 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
^Well said animorex.^
Man I love this thread, much variety.
607.
Post 7632044 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
Public Note: Dread Pirate Roberts is a hero. The feds are the criminals.
Lulz, I love how people are using the silk road address as one big trollbox.
https://blockchain.info/address/1a8LDh3qtCdMFAgRXzMrdvB8w1EG4h1XiI feel bad for that poor lady from Somalia though, I'd have thrown her a few bits if she had only included a donation address, so sad.
608.
Post 7650038 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
monkey still wants 3 more down hours, starting with 15 down minutes, now, but doesn't want it below 639 (603 if that fails).
monkey needs a spanking. ( been waiting all day for that!
)
Hehe, I wonder...
Did monkey know that xmr was gonna go boom like it did just now?
609.
Post 7650262 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
monkey still wants 3 more down hours, starting with 15 down minutes, now, but doesn't want it below 639 (603 if that fails).
monkey needs a spanking. ( been waiting all day for that!
)
Hehe, I wonder...
Did monkey know that xmr was gonna go boom like it did just now?
XMR is down ~60% in 2 weeks
sell that shit now!
Lol, I got sick of seeing "system buy limit reached" so I moved most of my balance into Monero this morning at .0036 looks to be holding now at .004. We'll see if it goes anywhere from here.
610.
Post 7660975 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
What happens if it starts trading AFTER moon in achieved?
MISSION TO MARS!
Sorry, Mars is inhabited by Monero. You can take a left at Vesta for the on-ramp to the Jupiter highway.
I just had to quote this 'cuz it made me grin, and also to tag it in my history
Maybe someday my grandchildren living on Europa can look back through granddad's old posts and have a bit of a chuckle too?
611.
Post 7661347 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
Monkey is suddenly fearful of an impulsive downward movement.
Perhaps monkeys are in touch with their primitive impulsive instincts than I am. Rationally, I do not see how this thing can fail to take off. Every professional trader in every major financial center must realize at this point, that a 10x, 50x move is all but guarranteed when COIN lists. How can they not be loading up in their personal accounts?
Still, monkey sez: Danger of 640 floor breaking over the next 5 hours.
Perhaps monkey has some intuition of farming stop-losses?
612.
Post 7661741 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
. I'm done teaching you, prof.
He reminds me of the professor from atlas shrugged.
(paraphrasing) "This is the last institute of academic learning in the country! We must sacrifice this silly bitcoin idea to protect the interests of the greater good!"
613.
Post 7676836 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
Perhaps some soothing music to calm frayed nerves?
https://www.youtube.com/watch?v=WMQg546agpU
614.
Post 7695752 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
Little pick up in the buying, but nothing out of the ordinary as of late.
I'm just glad to see a little glimmer of volatility return.
Though it looks like 620-640 range for the next little while... if we break outside that range then it might get interesting.
Lol, spread is like 10 dollars right now, is like watching a fight between red and green candles
615.
Post 7695923 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
Looks like that 635 wall is finally gone. Next rest stop at 640?
616.
Post 7696409 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
So that's it
dissapoiniting
I thought that was pretty gutsy. I seems that who ever has been putting up ask walls lately on Stamp is not doing it to sell but to manipulate.
Yeah I was watching that for a bit, it certainly looked fishy. Like the guy put up a wall and then every time the price would reach 635 he would just eat up all the bids that creeped into the gap, bringing the price back down 10 bucks.
(Tinfoil hat time)
That sort of behavior feels kinda similar to naked shorts in the gold and silver markets.easy too do with fiat, and when you've got the regulators in your back pocket... slightly harder to do with bitcoin, unless you run a non-transparent exchange.
617.
Post 7697343 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
It looks to me like someone wants to buy at or near 620
might even be the same guy who was selling at 635 you never know
he might have good margins.
618.
Post 7697854 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
rally still on?
Think of it like a steel trap. The more you crank it down, the harder it's gonna snap.
Might take longer than you think...
"the market can stay irrational longer than you can stay solvent."
619.
Post 7702403 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.57h):
rally still on?
Think of it like a steel trap. The more you crank it down, the harder it's gonna snap.
analogies like this one are the best parts of this thread. makes me wonder what people here are actually around ... and no, i also don't know how such a mechanism looks like.
Lol, sorry, just do Google search for images of "bear trap" and you will see.
620.
Post 7798534 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.58h):
Chinese super wall... 3500 BTC... Crash time
Jesus, someone in china woke up grumpy
Or with blue balls cause he didn't get laid last night and is taking it out on the rest of humanity, ahem cryptoland.
Or he needs a REALLY expensive hooker.
I'll do it!
$.$ BTC.
BTCIf you can get a rise out of this flatline, do it! Do it now!
I wonder how long this sideways action can last.
nm, and thanks!
621.
Post 7848942 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
Like JorgeStolfi CLAIMS to be doing, except he is doing it in entirely the wrong place.
I am
not doing that on this thread. This is a gambler's thread, and people have the right to gamble their money if they know that it is a gamble. Only that I cannot sleep knowing that someone, somewhere in the internet, has posted something wrong.
It's all good prof, just remember
Dr. Robert Stadler.
622.
Post 7849534 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
Is it me or is selling all your coins at the moment to hopefully buy back in cheaper next week highly risky?
I have less than 12 coins and at this current moment I wouldn't dare to sell even 1.
At this current moment the upward potential by far outweighs the chance of buying in a tiny bit cheaper along with the chance of missing out and/or having to panic buy back in at a higher price.
Also you don't lose money unless you sell at a loss, by holding in a small temporary downwards movement you don't lose anything.
I dunno, I'm feeling like up, which probably means down, but it still feels more like up..
623.
Post 7866807 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
...
more often then not its half right half the time.
I'll take those odds!
624.
Post 7868579 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
Could it be that drawing lines on a chart is completely and totally useless?
Perception is reality ...
Edited for brevity, and truth.
625.
Post 7916857 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
P.S. - Dell computers are garbage... but their company is ginormous.
I've been using the alienware m11x r3 for work for the last 5 years or so and it is rock solid.
Just wanted to say that not all Dell products are crap.
626.
Post 7918098 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
P.S. - Dell computers are garbage... but their company is ginormous.
I've been using the alienware m11x r3 for work for the last 5 years or so and it is rock solid.
Just wanted to say that not all Dell products are crap.
Touché. I was thinking about the really crumby Dell computers that never really work at my college.
Yeah, the low end models are probably still Crap.
Did not notice this part...
Following today’s announcement, consumers and small business owners are able to purchase all items on Dell.com using bitcoin. To promote the news, the company is offering a 10% discount on all Alienware-brand products to bitcoin buyers.
From
http://www.coindesk.com/computer-giant-dell-now-accepts-bitcoin/Almost makes me want to get a new one... too bad the old one was so good, it really is hard for quality products to compete with Crap you just replace every other year.
627.
Post 7939083 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_12.59h):
This is glorious.
Can it be done with the green numbers in the background? And make the little numbers all bitcoin symbol?
628.
Post 7996055 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
As an Aussie, I have to say, all these retailers offering BTC payment are completely missing the point. Why would an American pay with BTC? A credit card is surely much much easier. It's us foreigners that need it, we get screwed by the currency conversion. At the moment the only person paying with BTC is someone that already had them, probably purchased much much cheaper, and is in effect cashing out. Nobody in their right mind would buy BTC just to purchase something online, the hassle and time involved is still ridiculous. But for something like a laptop, where currency conversion is usually around 3 -5 % of price, it could make a $100 dollar difference to everyone overseas, which would definitely drive adoption.
Dell, Overstock et al, get your shit together!!
As a Canadian, I second this emotion!
Also GYFT! Please make gyft available in Canada.
629.
Post 7996475 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
The year is 2015. The month is August. Only but a mere 5 months ago, the world witnessed one of the greatest transfers of wealth the world has ever seen. The bitcoin price skyrocketed from 1k to over 100k per bitcoin over the course of 2 weeks. Many pot smoking hippies casually buying weed off the internet were made millionaires overnight. The Winklevoss ETF, as well as sudden bitcoin acceptance announced by large companies such as Amazon, Ebay, Walmart, Exxon-Mobile, BP, Walgreens, Best Buy, and many other companies has been seen as the primary cause of this price rise. Also, Russia has announced that they are making Bitcoin their official reserve currency, and all Russian rubles can be redeemed for bitcoins. The price has settled at around 250k per bitcoin, but rumors that Saudi Arabia is going to drop the dollar and do all oil trading in Bitcoins is threatening to cause even further price increases.
Thousands of people have been able to exit the corporate rat race thanks to their newfound wealth. Bitcoin based businesses are popping up everywhere and stocks of Western Union, Paypal, and Moneygram have dropped in price considerably. It currently costs a thousand dollars to buy a 20TH miner - enough to mine about .0001 bitcoin per day.
It is a glorious time to be a wealthy bitcoiner, but the looming threat of regulations by the USA government to what it sees as a threat to the US Dollar presents an uncertain future.
I cant tell if this is serious or satire.
Its like the kind of reddit/ buttcoin posts that intends to make fun of bitcoiners
No. This is some beautiful fiction. In the vein of Bradbury, Verne, Sagan, I dunno, Herbert too? And many more.
Anyways, I think it's great to dream of a great future, and also to prepare for a not so great one...
(when thinking of the "not so great" outcome I envision atlas shrugged and imagine Jorge Stolfi playing the part of Robert Stadler.)
630.
Post 7996770 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
<snip>
Don't be fooled by this guy.
This man embodies the worst enemy of bitcoin and our chance at a better future.
See
Dr. Robert StadlerHis stubborn, nay, willful ignorance of the current system is the wall over which bitcoin must climb.
This fight is only getting started.
Do you think that those whose livelihood relies on the inefficiencies and entitlements of the old system are going to voluntarily switch to the new system?
You think that people with millions invested in power and weaponry won't use those weapons before they lose their power?
Choose your side in the full knowledge of what that side truly represents, because war is coming.
631.
Post 8012596 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
Lovin' it right now.
As low as possible for as long as possible.
Still accumulating.
632.
Post 8028147 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
Are we seriously sitting here debating why we dipped less than 3%. Man I remember when no one even noticed 3% in either direction. Now it's cause for great debate and speculation.
Yeah, because we're basically at a point where it could go either way and people are expecting it to go up. And yet it doesn't. And after some weeks of sideways movement that drop wasn't very pleasant.
I predict it will happen at the 7777th page of this thread
Just for the record,
I WAS WRONG.I'm deeply sorry to you all.
What choo talkin bout?
7777 is a magical pot at the end of a rainbow.
Just when you think you're there, it's just over the next ridge.
633.
Post 8028196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
Adam how about a beer giveaway again? I send you the bits and you post funny pictures with QR codes in them. I'm too drunk/retarded to do that
Yeah sure, why not? Just throw up an address and some of us will pitch, and we'll have a party.
And screw the price, my deposit is still not showing up at virtex.
As low as possible for as long as possible.
634.
Post 8029366 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.00h):
I have little faith that Ecuador coin would do any better than Aurora coin
Now, if Ecuador were to establish semi – anonymous autonomous zones on it's shores . Then we might have something to talk about ...
635.
Post 8042553 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
So does the fact that our ATH has been a bit delayed mean that when we finally do have the next bubble it will be even bigger than we even expected or dreamed!? Perhaps this is a good thing in the long run? I am just trying to console myself with this thought.
Maybe this waiting process is just . . .
As low as possible for as long as possible.
...
I'm mostly worried about the people I was trying to get into bitcoin when it was ten bucks, then again at 100 and of course they don't want to because now it's too expensive.
But I can see their side, if it looks like a scam and it smells like a scam, then it's probably a scam.
When people begin to realize that it's not a scam, and that they missed out on an opportunity, then they get angry. I'm hoping a slow, gradual rise in price will give these people the time they need so that they don't feel cheated.
636.
Post 8042567 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
Could someone please define the moon for me? Are we talking $1,000 $10,000 $100,000 I mean those who bought at $10 and cashed at $1,000 could say they've already been to the moon? I'm just curious what everyone's version of the moon is.
Maybe a new poll; what price do you consider to be the moon?
Moon is one million. Nothing less will do.
637.
Post 8042735 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
638.
Post 8043166 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
Bitcoin price could collapse at any moment, never forget the ultimate downside...
Then consider the potential upside and place your bet.
I'd love to re-visit the 400 range, but at this point it's just wishful thinking.
639.
Post 8043273 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
640.
Post 8078682 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
other threads still think we are heading down, hahaha we are one step ahead!
I don't think we can go down very far. Looks like support above 7777 is holding.
As long as we don't dump our posts and HODL. 7777 support should hold
A crash to 7776 is imminent. Support dwindling
That page dumping theme has run out of steam... ADMIT IT!!!!!!
We'll all remember it fondly as The Great Page 7777 Pump n Pump of 2014. Sigh.... The good ol days.
Confirmed.
Now we're fondly remembering the summer of 2012, when you could still buy a bitcoin for less than 6 bucks.
In summer 2016 - the price will be languishing somewhere just below 60,000 after a tremendous bubble that reached almost 120,000 in 2015 and we'll be fondly remembering the summer of 2014, when you could still buy a bitcoin for less than 600 bucks.
641.
Post 8094116 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
550 is a pipe dream
monkeys across the globe are waking at the thought
its not going to happen people....
I get the same feel, price is going up.
so why do I feel compelled to do stupid things like place low ball bids?
I think I'm still buying *with my throw-away cash* until around 800 CAD.
anyone who wants to sell, I'll take your 0.2 btc at this price and laugh all the way to the bank!
hahaha, ding! ding! ding! dinner's ready! come and get it!!!
(lol, I'm such a whale
642.
Post 8094231 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.01h):
550 is a pipe dream
monkeys across the globe are waking at the thought
its not going to happen people....
I get the same feel, price is going up.
so why do I feel compelled to do this?
My open trades
Created Buy/Sell Amount Rate Value Status Cancel
July 29, 2014, 7:36 p.m. Buy 0.2000/0.2000 BTC 612.00000 CAD 122.40 CAD Open
July 29, 2014, 7:27 p.m. Buy 0.1000/0.1000 BTC 626.00000 CAD 62.60 CAD Open
July 28, 2014, 12:48 p.m. Buy 0.4000/0.4000 BTC 616.00000 CAD 246.40 CAD Open
July 28, 2014, 12:48 p.m. Buy 0.0257/0.2000 BTC 621.10000 CAD 15.96 CAD Open
One already got chomped nicely but due to time constraints I didn't catch my original 612 bid, but it's back now.
ding! ding! ding! dinner's ready! come and get it!!!
(lol, I'm such a whale
I'd be buying here too, but I acted too quickly, and spent all my fiat weeks ago at ~636
yeah, I got cleaned out on the last dip to 450 at around 500, now I just throw the leftovers of my slave wages on some low bids and hope they get filled.
643.
Post 8111404 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
If you'd bother to actually read the article, you'd see that it's precisely arbitrage that is a major factor why a system consisting of unbanked ATMs would be a superior pricing mechanism.
Yeah, seems I scrolled past that section, sorry. "TL;DR"
I just had to quote this as a cruel reminder of futility...
But I have to agree with
Erin Eris, that ATM article was excellent and the idea should be put to experiment as soon as possible.
644.
Post 8111632 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
When price is going down is always best time for this song...
http://youtu.be/WMQg546agpUFeel free to dump, I'm still buying.
645.
Post 8111913 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
It seems to be all manipulation attempts with no panic selling. To do it right you need to have fake bad news and then dump to create panic and buy in cheaper. You don't just sell for the fuck of it. Silly manipulator.
It kinda looks like a bottom
It kinda smells like a bottom
Why am I not convinced this is the bottom?
646.
Post 8112037 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
rant about BitLicense
BitLicense is a good example of just how fucked up everything is
Ben Lawsky said he would not over regulate, he said they would be very minimal rules even less then current AML laws. to make sure NOT to stifle innovation, he must of said "NOT stifle innovation" at least 21 million times. and now people are talking about how it might necessary to just not service NY customers, because of his proposed laws. lol.
I can only hope some of it gets rewriten, but still, I'd like to thank Mr Lawsky, for being such a prime example why no one should trust a word this goverment says. not a word, never.
USA, you've totaly let the whole world down. for a time we looked up to you, because you valued freedom as priceless, oh you still talk the talk.... but its all fucking lies.
SUCH A SHAME!
bitcoin is the new beacon of hope and freedom!
Answer is simple,
Antarctic ice shelf will slide into the ocean and we won't need to worry about new York legislation
647.
Post 8127547 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
totally NSFW, i guess there is no mods around or they have completely given up on this thread.
LOL!
Dude!
You
ARE the mod on this thread!
Best mod I've ever seen by the way
648.
Post 8144825 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
Petahash security is arguably excessive and a misallocation of capital. Unfortunately BTC creates a perverse incentive. This has been discussed ad nauseam. The alternatives so far are unappealing or unworkable. Alts may yet justify their existence as a class by finding a more adaptive mechanism or a superior security model.
I snipped the second paragraph cuz I couldn't understand it, but what do you think about parallel chains?
Is it possible to have a bitcoin clone running the same transaction code to run side-by-side with bitcoin but on another algorithm?
Sorry if not sense, Friday night
#Rant edit, had a moment of lucidity, but it faded
Like litecoin, but you don't make your own chain, you just take the existing chain and then listen for and include regular bitcoin transactions. When there is a discrepancy, like might happen with an attack, then at least you have some early warning, and some redundancy if it is necessary to "roll back" the Blockchain, if five or six other chains agree and only the sha256 chain differed, then maybe the consensus of miners would transfer to a consensus of chains?
649.
Post 8156894 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
Were we faked out? Daily still even looks bullish, but it feels like we're slumping again. Not looking forward to a retest of 550s..... onwards and upwards....
Just crawling up slowly to set up for the next dump.
As someone who gets paid monthly in fiat and is still trying to accumulate more bitcoin, I'm rather fond of this behavior.
As low as possible for as long as possible, thanks.
650.
Post 8163705 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.02h):
... We’ve chosen Bitcoin as it is an established and widely recognised digital currency.
Always good to see more charity adoption, but I have to chuckle a bit when I read that part. First time I've ever heard bitcoin described as "an established and widely recognised digital currency."
I guess I'm just more accustomed to hearing "bitcoin: the anonymous digital currency used to buy drugs and fund terrorism"
651.
Post 8359245 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
its our turn now!
make it count.
here comes my last 52 dollars!
fuck.
Yeah dude, I got funds incoming too, I was gonna check in to virtex to see if funds arrived and I got a stupid captcha page,
Is virtex under ddos attack? Did they get hacked? Do you get the same thing when you try to log in?
652.
Post 8359405 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
its our turn now!
make it count.
here comes my last 52 dollars!
fuck.
Yeah dude, I got funds incoming too, I was gonna check in to virtex to see if funds arrived and I got a stupid captcha page,
Is virtex under ddos attack? Did they get hacked? Do you get the same thing when you try to log in?
i loged in just now
no problem on my end
try clearing your browser cache and try again.
holy shit such walls at 600 on virtex
, i don't care, i'm bidding high cuz i'm pissed off now.
also good news everyone i have more then DOUBLE the fiat i thought i had.
want some?
Thanks dude, did system reboot and everything is good once again, still a little scary that they didn't trust my machine, guess it's time for a re-format. Once a year whether it needs it or not!
653.
Post 8359779 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
holy shit such walls at 600 on virtex
Wow. Three equal asks totaling about a half week's average volume for Virtex.
Obviously the same person/group. I wonder who.
Most of the ethereum team is based in Canada, right?
Might make sense to cash out on virtex, I know I would.
I'm not saying it's wrong for those guys to get paid, I'm just sayin'...
654.
Post 8393497 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
On résiste à l'invasion des armées; on ne résiste pas à l'invasion des idées.
That was before they invented television and Google and the takedown notice...
Also before Satoshi invented the internet of money...
Sorry Stolfi, you missed the bus.
655.
Post 8393524 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
Consider a place that sells bitcoins "off the shelf" and runs out of BTC. If they expect the price to fall several percentage points "soon", it is better for them to turn clients away than to buy more BTC to replenish their stock.
Conversely, if they have a stock of BTC and expect the price to rise significantly "soon", they will be tempted to tell their customers that their stock ran out.
So, if those reports of (BTC sellers running out of stock) are true, which explanation will be the true one?
Have you seen the research on bankless ATM's?
I think you spend too much time focusing on problems rather than solutions.
656.
Post 8393697 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.05h):
It's over. 6 hours of lower highs and lower lows. And volume is picking up in China.
This. I changed my position to short at about 514 a few hours ago when we crossed trend lines... I am kicking myself for not doing it sooner. We have more to drop.
Also, buying pressure will be depressed because of Coinbase and leverage pressure will be depressed because the change of policy of Bitfinex soon to go into effect. In a nutshell... more blood, guys. Wish it wasn't so. It was nice while the party lasted.
P.S. -- Don't take my trading advice on face value. I am a Newbie. I've done ok the past few days, but am a couple percentage points down. I am a pretty smart fellar, but I am still learning the ropes a bit.
Trading bitcoin is as hard as you make it. (Not commenting on you personally, just laying this out there for anyone looking for advice.)
either buy and hold, -- or try to consistently sell high and buy low...
the former strategy has done quite well over the last three years, the latter one... has mixed results
657.
Post 8393922 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.06h):
@Adam and the poll ...
What means "short term" to you ? is that 15minutes or a day or a month ?
You definitely should specify IMO.
I can't speak for Adam but..
short term is one day,
medium term is around 5-10 days,
and long term is anything more than one month.
658.
Post 8393968 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.06h):
Unless they are doing something fishy like front running, there absolutely had to be more buys than sells. If everyone was selling coinbase would have an excess of coins and little fiat. If everyone is buying they have extra fiat and no coins. It's a simple exchange of goods and they take a cut in both directions. You're right, most people will not be buying from coinbase until they get an official market price again.
If you have demand and you cut of supply, what generally happens to price anyways?
And don't forget that some of the people that wanted to buy off coinbase will now be moving to other places such as their bitstamp account, localbitcoins, mycelium local trades etc etc.
And coinbase will now have to buy more coins off bitstamp...adding some buying pressure.
Nice analysis.
I think that if the price remains low, the liquidity will dry up, thus forcing a price spike - Just like the last time, and the time before that, and the time before that, and the time before...
659.
Post 8426625 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.06h):
Wow, I'm about 20 pages behind but I wanted to post so I will know when I catch up, lol...
This thread is always so much better when the price is moving. My greatest thanks to all those responsible for keeping the price as low as possible for as long as possible.
660.
Post 8444349 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.07h):
What's the record for longest chain of IOUs traded?
Oooh, good question!
I'm gonna vote USD
This should be a poll question
661.
Post 8444650 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.07h):
Leverage is evil in general and shorting on leverage with margin is terrible idea in crypto, for all but the very best of traders....with deep pockets, not only for the individual but for crypto in general leverage sucks balls... as the flash twatage on BTCe shows... useless leftover from the dying system... what is wrong with shorting thr traditional way? no for some reason, do it on borrowed funds, where you can get hunt stopped seems like a reasonable idea for some... wonder why? oh greed... really wish leverage and margin trading never made it across to BTC personally... and I generally do not touch it... once upon a time with some low priced silver and low leverage sure.. but that really DID make sense.. and it was long not short.
Meat and bone.....churn...churn...churn.... profit for exchanges churn churn hunt stop hunt stop swing churn, burn and fuck the consequences to the market, well there we go
Leverage is in general evil....think of it the same way as a casino... the odds are not on your side...of course, and if they were do you really think that an exchange/or broker would offer you "free money" to gamble with ?
Man each to their own... and those with the skills and the bankroll of course it can be childs play... in the long run most everyone else as in 90% of people get put through the grinder until they become so despondant they quit at a major loss, seen it over and over and over again.. sure there are some winners.. but much like a poker table... if you are looking around trying to figure out who the sucker is.... then it is most likely you.
Be careful out there.
I had to try leverage for myself just to see if it could offer me anything, but the combination of the spread and the interest on the outstanding bets made me realize that after spending the last 20 years getting out of debt, why bother borrowing and gifting someone else a cut of my earnings.
662.
Post 8444808 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.07h):
I would laugh if spiderlady pulled a Dr octopus and tanked on the wink etf.
This just feels like people trying to front run a deal by trying to keep the price low, and then setting up hidden walls to scoop up cheap coins in advance of good news.
I dunno
663.
Post 8444953 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.07h):
A mortgage? Man, I don't know. I think it is the worst way you can lock yourself into a life-time of debt, and for what? A house and a car? I have bigger plan. I want to live in 5 star hotels around the world drinking grappa barricata all day long. Or die trying.
I just had to quote this and hand out the newbie post of the month award.
I don't know what grappa barricata is but welcome to the conversation newbie!
664.
Post 8563359 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.08h):
This wall looks to invite buys,
Not that I needed an invitation.
665.
Post 8563518 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.08h):
She wants to pop, I can feeeeeeeeeel it.
Don't rush it, low as possible for as long as possible, train's only half full..
I'm hoping for one More downturn around middle of next week. (Yes, fiat transfer takes that long)
666.
Post 8590847 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
I've been getting the free email from Casey daily dispatch (an investment newsletter teaser) for a few months now, and today's newsletter was the first time I've seen them mention bitcoin...
Also they mentioned
https://silentvault.com which I had not heard about before.
Sweet! I was able to find a link
http://www.caseyresearch.com/cdd/whether-you-love-or-hate-it-youre-missing-what-really-matters-about-bitcoinI thought it was interesting, I think the ideas of what Blockchain tech can enable are only beginning to sink in, it will take time, some people have very thick skulls (I'm looking at you, Jorge)
667.
Post 8591255 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
I've been getting the free email from Casey daily dispatch (an investment newsletter teaser) for a few months now, and today's newsletter was the first time I've seen them mention bitcoin...
Also they mentioned
https://silentvault.com which I had not heard about before.
lol cool.
do they talk positively about bitcoin?
Yep
http://www.caseyresearch.com/cdd/whether-you-love-or-hate-it-youre-missing-what-really-matters-about-bitcoinIf it's tl;dr just skip to the end for the Hitler clip, it's a classic gold
668.
Post 8591276 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
market isn't out to get you people.
market has bigger fish to fry.
market is out to get the world.
Could someone please Photoshop a bitcoin instead of the crown please, I really want that poster on my wall
Thanks
669.
Post 8592427 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Here you guys go. This is my "quick version".
Thank you, it's almost perfect, but I disagree with Adam on this, I think the B symbol should not be grey, it should be white, same colour as the rest of the text.
Thank you again tho, It's still awesome, I just think it could be better.
edit; OMG! I agree with Stolfi!
Bullish ?
Bearish?
You decide.
670.
Post 8592547 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Thank you Jettison86 - the second one is win
Also mention for Adam for the genesis block of this meme
671.
Post 8592723 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Trade mark laws are indeed scumbagerous, as scumbagerous as the EU and other political entities that assume the right to enact and enforce such laws.
672.
Post 8606757 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
At least no one ist dumping anymore...
buying volume is way to low for a real trend to the moon, but it seems like no one wants to sell below 500 either
Just when you thought it was safe to go back in the water...
;-)
673.
Post 8606848 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Note to self: stay the f**k away from BTC-e.
?? context plz
Check BTC-e on bitcoinwisdom. It looks like 2, maybe 3 or 4, bots battling it out. Their volume is insane, nearly all in small amounts. To me, it looks like something went haywire.
This is what the beginning of skynet looks like
The bots are taking over
674.
Post 8606990 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Lol, the market is exploding, watching the action on btc e right now is nuts, the green-red flickering of the price is enough to give you a seizure, and JJG is still using many words to say very little.
It's comforting to know that in these chaotic times, some things never change.
675.
Post 8607017 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
...
So I would rather think the opposite: the general market wants a lower price, but there are a few whales (maybe just one) who are spending a lot of money in order to keep it just above 500$.
Anyone else sees this too?
and the whale(s) is(are) gone and the price is below 500$.
To me it looks like someone is loading the boat at 484.151
Almost seems an insatiable appetite
Stay tuned!
676.
Post 8607101 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
on btc-e it kind of looks like someone is manipulating a bot into selling?
Looks like selling pressure is easing off, buy the coin eater has not yet had his fill.
Fun stuff
677.
Post 8607235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
Fucking bots at BTC-E, the hell is going on? more volume in the past few hours than during the flash crash lmao
Huge volume support at that level, it's almost like summer vacation is over and it's time to get back on the train..
Only happening at the one exchange though, very sketchy
678.
Post 8610759 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
we got a bit of a falling knife going.
quickly sell sell sell time is now.
Quoting this to confirm that I have awoken this morning in bizarro world
679.
Post 8615424 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.09h):
OK bears, you did it. Whats next?
More of the same
As low as possible for as long as possible
.
.
.
And then once we're all aboard, then we can choo choo to teh moon
680.
Post 8624054 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
Weak minds are incapable of vision, conviction. Weak minds connect to weak hands. Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit. With strong hands we scale the mountains of adversity.
now that my bull glasses are off this sounds so ridiculous
I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.
681.
Post 8624196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
Weak minds are incapable of vision, conviction. Weak minds connect to weak hands. Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit. With strong hands we scale the mountains of adversity.
now that my bull glasses are off this sounds so ridiculous
I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.
you mean the train to nowhere?
Hehe, nice one
The moon is far away, sometimes it's difficult to see, and it appears like you're going nowhere.
That's when you need the vision to see beyond the facade, maybe you should have traded bull glasses for future vision binoculars, then you could see the destination.
682.
Post 8663067 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
a lot of people want the price down (shorts, buying cheaper, maybe COIN related...) but i think especially the new shorts from the last days expected major dumps that didn't happen only "smaller" dumps here or there but we are still in the same price area...i guess some of them get nervous soon
and there is a slow but steady move up...(longs & newbies)
somewhere between 485 and 500 bitcoin could destroy that chains and rise pretty quickly to 650...from there on a slower & steady rise to higher levels
an uptrend is inevitable...every day more people get into bitcoin
being bullish again feels so much more right
, dude, you were really starting to worry me for a bit there, but knowing you can flip-flop on a dime like that gives me a totally different perspective on your past contributions, so let me just say...
"Welcome aboard the wall observer train"Welcome aboard, I'm glad you have your ticket ready but I regret to inform you that our predictometer is signaling for a delay.
The predictometer is saying we need to back up to the 450 marker we passed a while ago. (Just between you and me, the predictometer has been really acting up lately. Sometimes, it even flips around 180 degrees and the train just takes off before all the passengers can even get on board!)
But no worries, your seat is reserved, just sit back and enjoy the complementary champagne while you wait for the train to reverse course.
What's that? No, no, I've spoken with the train engineer, Mr. Whale Dumpster himself! He's assured me that there is absolutely no chance that the train will roll back to that cliff near the 400 marker we passed way back.
Just sit back, relax, and enjoy your front row seat on the ride of a lifetime.
683.
Post 8671738 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
Now everyone is confused again. Rally over?
fake out spike before final capitulation?
I don't really care, my money cleared this morning and I just took whatever price I could get, just glad that virtex lags behind the others.
If it keeps going down I will keep buying, this really does have the potential to bleed me dry, lol
684.
Post 8680759 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
Just for curiosity, if some day you use bitcoin to buy a car, how will you make sure that the address that you are sending the bitcoins to is indeed the car dealer's? What will you do if the car dealer tells you that they did not receive any bitcoins, and that their payment address is not the one you used?
Jorge Lolfi ladies and gentlemen, he'll be here all week.
685.
Post 8680770 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.10h):
if i have a bitcoin wallet, and my friend living on mars has a bitcoin wallet, and i sent him a bitcoin, does the bitcoin travel faster than the speed of light?
Haha, trick question, bitcoins don't travel
686.
Post 8737473 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
Normally i'm a silent reader but the price swings lately - especially today - made me register for an account.
Are we really going to "da moon" because of today's news? I have been holding coins for the last two months so i would sure hope for a bit of an upswing.
Clearly PayPal is a huge payment processor and them using bitcoins is another big advertisement for bitcoin.
I'm just not sure if braintree/paypal will just act as a gateway to coinbase or what their plan is.
My understanding is that people will be abled to use their paypal account for payments in another "foreign currency", the XBT/BTC/COIN.
In that case people won't have to learn how bitcoin works. In my opinion, bitcoin will go further into the background.
PayPal will buy new coins each time someone buys a product and quickly after that the merchant will dump these coins again.
People won't need to buy coins on their own and fear a fluctuating exchange rate.
While i see the huge advantage for the non-techies, i don't think it will have a huge impact on the price.
Please share your views on this, i'm interested in your opinions.
I haven't caught up to the thread yet, but I just wanted to say
Welcome to the best thread in the universe (of bitcointalk.org)
Bitcoin is not easy enough for regular people, like iPhone users and such.
I think bitcoin's place is in the background, just like regular people are never going to understands how packets are routed, regular people are never gonna really understand bitcoin.
They need a slick app that makes things easy. Apple and visa are announcing such an app tomorrow apparently, pay pal is just trying to steal some thunder.
Might take a few months, but don't get discouraged, personally I am buying the 500 CAD level every time it gets hit on virtex, with whatever I can afford. New fiat won't be available till the end of the month, I doubt the price will be this affordable by then.
This is not investment advice.
687.
Post 8737775 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
BTC went pop... that's why it is dying now. This PayPal news is actually terrible because it undercuts OpenBazaar's viability and we need to not be pop... we need a black market. Instead, you can now use BTC on PayPal which will probably carry an even bigger delay than PayPal already has plus an additional fee. You watch. Seriously this is what I think will happen, but feel free to counter.
Seriously I think open bazaar should use Monero, or some other coin with built in anonymity.
688.
Post 8754702 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
Price is inching upwards, good news everywhere, and yet the past few weeks/months have conditioned me to expect a moderate dump any second now...
One of these days the dump will not come and we will indeed take off, at least for a while, but not today I fear.
(I would love to be wrong about this, btw)
689.
Post 8754790 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
Riiiight, lets drop 7 fucking USD, why not
No kidding, it just feels so mechanical.
690.
Post 8754896 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
This Apple pay service looks good, very fast transactions (not waiting around 30 minutes to buy your buckwheat smoothie while the vendor waits for the transaction to confirm) and best of all, your credit card number is completely safe because it is encrypted in the software, and Apple uses a one time randomly generated pass for each transition. Even if you lose your phone, your credit card number is safe.
tl;dr .... basically, every perceived benefit of bitcoin has been destroyed
does this mean you're going to leave us alone? for good.
Nothing that Apple does addresses the most important aspect, the elimination of the need for a trusted third party.
And yes, though I liked the cut your loose thing, it's kinda jumped the shark.
I think it's time to retire the chuckle account and come back with something fresh
Just my opinion, still a big fan
691.
Post 8756643 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.11h):
You're all fuckin mental.
It goes up 2% everyones a bull, it goes down 2% everyones crying, saying this is the final capitulation,
Y'all need your heads checked
There are also few guys claiming it's going to 0 once it drops a bit
and someone after it goes up a bit are claiming we are heading towards 2k$.
Crazy btc-talkers
I think by the next reward having (plus or minus a few months) the price will be either 0 or at some other price of 2k or more.
692.
Post 8768515 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.12h):
Is this supposed to be a picture of all of us on the forum Adam?
I am the blond in front I guess.
Ha ha ha ha ha ha ha ha
That is awesome!
We used to play this when we were kids.
I'm the guy in the back with the hat and glasses, smoking a pipe
693.
Post 8784188 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.12h):
Welcome to active participation, and hot Chinese girlfriends are likely over-rated - especially once you get to know them for a while. Accordingly, you likely can just get a new one, if you employ some decent logistics.. and also, if you were capable of getting one hot Chinese girlfriend, then you are likely capable of getting another one.
Just use the Chinese Slumber Method.
Comedy gold
694.
Post 8880414 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.14h):
Feeling bullish here, bought 30 BTC, thanks!
That's a nice chunk, congratulations!
695.
Post 8986844 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.16h):
888 would be the next target, maybe 88 even
I like these targets. I predict with high confidence that the price of bitcoin will continue to fluctuate between these upper and lower targets for at least the next month or so.
I fear that the longer it takes to break the upper bound, the more likely the break to the lower bound becomes.
696.
Post 8986936 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.16h):
The lines on my chart look like this:
It looks like your chart is missing some dates and numbers, not to mention dinosaurs
But seriously, what the hell am I looking at here?
697.
Post 9009564 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.17h):
At times like these it is good to remember....
"you can't kill the bitcoin"this too will pass
698.
Post 9033053 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.17h):
It's happening?
699.
Post 9093475 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.20h):
Igorrrrrr is back!
Bullish!
700.
Post 9109809 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.21h):
buy stocks from overstock, has a ring to it ... throw some stocks in with your next checkout basket when purchasing sheets even
it is bigger than that even
because if one has a stock on the blockchain, one would want their entire ledger on the blockchain so investors can audit and track performance up to the nearest block
no more quarterly reports, no more naked short sells, no more scammy CEOs lying about revenue
Now imagine a brash, young, political party that pledges to make their budgets and spending transparent on the Blockchain. These new possibilities are a threat to the current power structure.
The people who benefit from the current system are not incentivized to "rock the boat". They will fight this tooth and nail.
701.
Post 9110965 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.21h):
So my funds finally went through this afternoon, and I missed out on the deals over the weekend, I'm still fairly happy with any price below 500 CAD...
but then I try to move my precious coins into my wallets and I get this?
https://twitter.com/CAVIRTEX/status/519226105035624448I heard similar story at coinbase, I'm so cynical at this point
702.
Post 9158785 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.22h):
Thank god, someone reanimated Willy! Next stop 5000$
If price <361 then buy 0.05
That's a pretty weak willy
703.
Post 9158837 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.22h):
Thank god, someone reanimated Willy! Next stop 5000$
If price <361 then buy 0.05
That's a pretty weak willy
True, the original one bought some where around 15-30
BTC every 2-3 minutes, IIRC.
It does place a nice fake floor that you can pull when the time is right...
704.
Post 9162721 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.22h):
<snip>
Traders are Bitcoin's cancer.
Traders are a vital part of the price discovery mechanism.
I've often said that I would like the price to stay as low as possible for as long as possible.
Bitcoin is like a virus, it needs to infect a critical proportion of the population before they realize the full threat it implies, otherwise it will be eradicated.
If we could stay below 1000 until sometime in 2016, that'd be great.
705.
Post 9162924 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.22h):
Yep, just bought BTC locally from an online poker player. He had a ton of BTC won a few hundred ago he needed converted to cash. And with Bitfinex not processing wires yesterday due to a holiday in Taiwan, it became the perfect match.
I sent the BTC to Bitfinex and converted it to FIAT for more play money. Cheaper than a wire.
I haven't played play money in over 10 years, but I've heard the highest limit play money games now actually have people who try to play well. Then again, the people who told me this are of questionable ability, themselves, so maybe that's just relative to them. Who knows? I'll never find out because I didn't get as good at poker as I am to not make money when I play it.
Strange, I see "I sent the BTC to Bitfinex and converted it to FIAT for more play money." And I think, he's gonna use the money for speculation, catching falling knives, bottom picking, you know, fun stuff.
Play means fun to me. Personally, I found that playing poker to win is not actually fun, at least not as fun as seeing your low-ball bid get filled during a flash crash.
But that's just me.
706.
Post 9163042 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.22h):
Why did the buying pressure suddenly stop? People were buying like crazy. What happened?
Oh wait, idiot scum traders were dumping on everyone who dared to buy and take the price up.
Well done on killing possibly the last uptrend of the year within 2 days.
Traders are Bitcoin's cancer.
National holiday yesterday (Friday) for Bitfinex's bank in Taiwan and bank holiday (Columbus Day) in US on Monday should choke incoming FIAT to the exchanges till Tuesday.
thankfully some people have interac online e payment options available..and though its a 500 daily cap, it still lets you deposit on non traditional banking hours.
Canadian Thanksgiving this Monday lol
I tried that option for the first time just yesterday, not sure how long it took as I went for lunch and when i got back the money was there, definitely less than two hours.
Do you know if it's like seconds? Minutes? Half an hour?
707.
Post 9192238 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.23h):
If we don't retrace to at least 380 I would be quite surprised.
I am hopeful that the market is maturing enough that it can smooth out the meteoric rise that always seems to be just around the corner.
In the meantime, I call upon those brave souls out there that are willing to risk their precious bitcoin to short this market and keep the price as low as possible for as long as they can remain solvent.
Your sacrifice is much appreciated.
708.
Post 9246726 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.25h):
Umad dear?
First chuckle in many, many pages.
Much thanks.
709.
Post 9252085 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.25h):
I think speculators are guessing that an altcoin will replace Bitcoin or that Bitcoin 2.0 derivatives will make Bitcoin unnecessary as a store of value. They will see the error in their presumptions.
Ripple is integrating 100banks in 2015. No error. Bitcoin is the past.
Don't make me laugh.
Well already 4banks. And one is #30 in US... Keep you head in the sand.
Ripple getting in bed with the banks?
Just remember that you sleep in the bed you make.
710.
Post 9252164 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.25h):
If Ripple makes (international) payments cheaper, why argue?
I'm not arguing, I'm just saying that ripple does not address the underlying problem.
711.
Post 9328291 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.26h):
The polar opposite to this is people who buy every dip.
That's me <sigh>
Still trying to buy back all the coins I sold in 2012 lol
712.
Post 9328380 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.26h):
Paypal's whales are buying a lot of shares...
Sorry, I don't understand. Who are PayPal's whales and what are they buying shares in?
I know English isn't your best language, maybe you could just provide a link?
713.
Post 9330318 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.26h):
Pain incoming.
One's pain is another's delight.
Until we break below 266 I'm still of the opinion that as low as possible for as long as possible is the best path forward for bitcoin. Adoption and price are tied at the hip, and mass adoption is not possible until the infrastructure is in place to such a level that bitcoin is actually easier than traditional methods. The masses don't care about fundamentals or obscure charges that are hidden in the background, they care about ease of use.
If the price could just stay below 800 until 2016, that'd be great, thanks.
(Of course if we break below 266, then I don't know what the fuck is going on and all bets are off.)
714.
Post 9341937 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Finally going up or nah
going up, just slow progress
a very very slow movement, but what creates movement in bitcoin
i still dont get it.
Nothing creates movement in bitcoin. The bitcoin simply is, and we are the ones that move.
715.
Post 9351663 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Don't give up, earthlings. Exercise and stay tasty.
~Your Beneficent Reptilian Overlords.
you were right bro... we are like those ant, trapped inside goverment and their laws and fiat and religion. and bitcoin can set us all free... !!!
FREEDOM !!!
PS : u dont take me coin, no u dont
LOL
they can take our FREEDOM, but they'll never take our BITCOIN!!!
716.
Post 9351723 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Thanks for this, it'll take a while to get through but this little clip I thought was priceless.
You state in your letter that the Company wishes to set up a Platform that consists of a trading system (the “System”) to match offers to buy and sell convertible virtual currency for currency of legal tender (“real currency”)
I dunno, I just chuckle to see them call legal tender "real currency" quotes and all 'cuz they know it's a lie.
717.
Post 9352523 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Bitches think I'm a perma-bear, but they don't know that long term (and I mean looooong term, I am open to BTC bullishness, but not now and not at current prices):
UBS CIO, fuckers:
http://blogs.wsj.com/digits/2014/10/27/ubs-cio-blockchain-technology-can-massively-simplify-banking/“I believe – and this is my personal view – that blockchain technology will not only change the way we do payments but it will change the whole trading and settlement topic,” said Mr. Bussmann.
He believes that blockchain technology has potential to trigger “massive” simplification of banking processes and cost structure.
He said: “When somebody with a strong brand and security level establishes it as a reliable service, then the whole industry will follow. That is my personal prediction.”Remember mofos, No Bitcoin -> No incentive to maintain the network -> No blockchain And now back to being a bear. Time to crash again, bitcoin
They don't get it
<sigh>
I've had this discussion on another thread.
Please read:
Bitcoin: It’s the platform, not the currency, stupid!http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/1/Which nailed it back in February.
Then realise this has happened before with radio, telecoms, the internet and other technology as Tim Wu's "The Master Switch" eloquently describes: the hegemony will strip "bitcoin" of all the useful components (eg blockchain technology) it needs to continue its control.
They get it...and they'll take it.they can take our FREEDOM, but they'll never take our BITCOIN!!!
718.
Post 9375610 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
i think i'm waiting for a sign to get my bids in...
Is this the sign you've been waiting for?
These guys are really hampering our "once in a lifetime buying opportunity"
Great timing assholes
719.
Post 9376356 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Up to 43 coins now... buying, buying, buying... I've got financial aid money to burn, mother----ers!!!! Wooooo!!!!
noob.
Woulda thunk a guy with the name of NEWBIE1022 would be a noob?
I gotta say though newbie, picking bottoms is a dirty business. I hope you have the stomach for it.
At what price do you panic and cut ur loose if I might ask?
720.
Post 9376529 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.27h):
Up to 43 coins now... buying, buying, buying... I've got financial aid money to burn, mother----ers!!!! Wooooo!!!!
noob.
Woulda thunk a guy with the name of NEWBIE1022 would be a noob?
I gotta say though newbie, picking bottoms is a dirty business. I hope you have the stomach for it.
At what price do you panic and cut ur loose if I might ask?
the tragedy is that he got 43 btc to play with.
and I didnt panic, feeling pretty much confident.
I am just going to ride it (I mean, say it goes to $100 well then we have an entirely different calculus, of course) for a while. The bottom is either here or around $260 to $270 (and $200 in a nightmare scenario). Say it goes to $200... it'll still bounce up back to the $300 range following a crash. So, I'm not leveraged so it's still fairly calculated.
The only thing is whether or not I'll kick myself about having been able to buy in at a cheaper price. That may happen. But I don't imagine I'll incur a huge loss as long as I just sit on it.
In that case I'm fairly certain you'll be alright... eventually.
When the price was stagnant in 2012 we didn't see significant movement until after the block having, which won't happen again until sometime in 2016.
You now have a significant position. I would recommend that you just consider that money lost and gone right now, in order to stay emotionally detached.
I would also recommend that if the price does indeed go up again past 350 don't sell you're whole position. I would keep at least half in cold storage until after the next block having and see how it goes.
Of course I can't offer financial advice, only half-hearted emotional support
721.
Post 9408560 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.28h):
Gut feeling is that there's going to be a big movement upward in the next few days. I don't expect it to drop much lower from these levels.
I agree with you, except also, that I was thinking the same thing when it was bumping along at $385
My gut is starting to feel uneasy. Bumpy roads indeed.
722.
Post 9409387 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.28h):
Hey Stolfi, I would appreciate your opinion on the second half of this interview.
(It's about Ebola and related DNA type research)
https://s3-us-west-1.amazonaws.com/letstalkbitcoin/podcasts/LTB158.mp3The good stuff starts at 32:00
All comments are of course welcome, but I am especially interested in the thoughts of an academic regarding the corruption of incentives within the academic community.
723.
Post 9441845 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
This last little bump feels a lot like when we first broke back above $5 after hitting $2 in the crash after the first goxxing.
I was still unsure at the time, but at least it felt like the worst was over.
Price will still go up and down, and anything can happen, but it seems to me like we've turned the corner.
724.
Post 9442426 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
I love that we have the internet just so that these idiots ignorance can eventually get exposed
Didn't sound that unreasonable to me.
I made it about halfway through, the white hair guy is an actor and the agenda is to keep the price as low as possible for as long as possible.
I approve of this obvious package of propaganda.
(Edit: unless I'm completely wrong, this is just part of the scheme to keep the masses out of the game until all positions have been set. Once you see actors like this telling you to buy, that's when it's time to sell.)
725.
Post 9452424 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
debt is good?
dear keynesians, this only would have worked if central banks could not print fiat out of thin air to lend it with interest to the government.
how often did the US has to change their debt ceiling in the last 3-4 years?
and its not only a US problem, pretty much every industry nation is nearing a debt crisis, which gonna explode sooner or later under their butt.
So every industrialized nation in the world is stupid and don't know The Truth about economics that you and some of your crustier friends do.
I suggest you start calling world leaders and educating them, it looks as if without your help, the world is heading for Armageddon.
P.S: In the meantime, that rally sorta stopped rallying a while back
P.P.S: Maybe you can just email world leaders with YouTube links to "Money As Debt"? Sounds like a plan?
Burying your head in the sand won't make the problem go away.
Laughing at the lunatic fringe is called normalcy, not "burry[ing] your head in the sand."
Dude, I can't wait till you start trollin' the bears on the way back up...
...although it's looking like I might be waiting a long time
726.
Post 9452711 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
<snip>
the true reasons of bitcoin's possible success.
If bitcoin is to succeed, the public must demand transparency from it's governments.
I am both excited and terrified to see where this little experiment leads.
*EDIT*
They may take our FREEDOM, but they'll never take our BITCOIN!
727.
Post 9452933 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
This is Ground Control to Major Tom
You've really made the grade
And the papers want to know whose shirts you wear
Stay the course, Space Conquerors.
Hold it in just a bit longer!
*lunatics
You know, on second look, that is one incredible piece of art. Thanks Adam.
728.
Post 9453205 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.29h):
All of this leads me to the conclusion that Ripple is the future of cryptocurrency. In fact, I am currently in the process of selling all of my assets to invest solely in XRP.
Jorge, thanks for your thoughtful comments. I'm bullish on Ripple too, but I wouldn't recommend anyone invest more than 50% of their net worth. Ripple is not a get-rich-quick scheme like bitcoin. It might take 6 months to a year before the first mega-bubble. Be smart and patient.
lol I didn't realise Walsoraj had edited Jorges comment to add the selling all his assets parts.
I thought Jorge was going full retard
It was almost brilliant actually, the quality of țrolling around here has definitively improved.
I find this bullish, as in the next dump might only get back to 320?
729.
Post 9474265 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
2 chartbuddy's in a row is a signal for a new topic.
I propose we talk about the strange way that the Blockchain was built so that block having would occur approximately every four years. Coincidentally roughly matching the election cycle of a certain country.
730.
Post 9483108 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Bitcoin is something new and can easily dissapear again unlike things like gold. That's why only a complete fucking idiot would compare Bitcoin to gold.
You
do realize that you just compared Bitcoin to gold and then proceeded to call yourself a complete fucking idiot, right?
That was some pure, 24 karat, comedy
goldthank you for catching that.
731.
Post 9488148 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Dance on moonbeams
Slide on rainbows
In furs or blue jeans
You know what I mean...
Why does the panda bear have a helmet but the rabbit doesn't seem to need one
Something fishy going on, don't trust that rabbit and that bouquet of broken dreams he's selling.
732.
Post 9489979 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Best TA I've seen in a long time, but for the life of me I can't remember if the alpaca formation is supposed to be bullish or bearish
733.
Post 9492169 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
What am I supposed to do?? Enter 20x leverage right here or wait for a dip??
Fucking christ
I can't tell you what to do, but I can share my experience. Hope it helps.
I tried playing with leverage a while back, the spread sucked though so as soon as you open your position you're in the hole. As long as the market moves in your direction, you're fine. But (I'm my case at least) it only has to move against you once to wipe out the profits from several winning bets.
Proceed with caution.
734.
Post 9492278 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Thanks for all the answers, I'm keeping my profits in btc so I guess i'll be on the sides for a bit more and try to catch a dip.
I'm only doing it with 2-3 btc though so it's not like i'm all in leverage
As to why I do 20x, that's because I got to make playz
Probably doing 2 btc 20x, 1 btc 10x.
If you want to go long, I don't think now is the time. I'd even consider shorting right now if I was still playing. 366 right now on stamp, I think support is still around 350.
I'm usually wrong about these things, it's why I don't actively trade any more.
Edit - actually, I'd short the whole thing right now full leverage just to troll shroomsy, lol
735.
Post 9492364 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
What am I supposed to do?? Enter 20x leverage right here or wait for a dip??
Fucking christ
Not to be a dick or anything, but... if the question stresses you out like that, the answer is almost certainly "do
not enter a factor 20 leveraged trade" (edit: completely independent of the direction of the trade)
Buzzkill.
736.
Post 9513046 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Looks like we will break and go to $355 or something next few days.
Really?
Possibly, as I said for who wants to go long, wait for a bigger retrace.
Oops, to late, I just bought some more. I guess putting new tires on the car will just have to wait
(I hope it doesn't snow, lol)
737.
Post 9514364 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
For god's sake no don't go long 20X now.
I see you are eager to trade on big leverage.
Trust me, unless you REALLY know what you are doing I suggest you don't go big or you'll find yourself totally REKT with less than half of all your funds before you know it. You don't want that.
And even it tomorrow it shoots up (you don't know that now) don't go all "maaaan I could have made a killing if I would have put all 20X leverage yesterday!"
^^^This is the thought process of a gambler not a trader. A trader needs a strategy, not big wins on luck, or he will lose eventually.
How much experience do you have in trading and on trading on margin?
Not alot, swingtrade a bit with btc/doge/ltc
. But unless it would go sub $350 I wouldn't lose any money
And I don't think it will go much lower then $355
I don't know how it works on your exchange, but in my experience, every day you spend in the red you are bleeding out interest. Also, because of the spread, your position is in the red the second you make your bet.
Definitely a good idea to start with some small bets to get used to the system before swinging for the fences.
738.
Post 9515104 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
I don't know how it works on your exchange, but in my experience, every day you spend in the red you are bleeding out interest. Also, because of the spread, your position is in the red the second you make your bet.
Definitely a good idea to start with some small bets to get used to the system before swinging for the fences.
Well, how big are the interests? They aren't that big right
BTW, I know I look like a fool and I normally wouldn't do this but my gut, heart and brain is telling me to do this, like what am I supposed to do
Follow your gut, your heart, your feelings.
Pay no attention to the heartless psychopaths that try to second guess your inner instincts.
I'm just saying to start slow, "how big are the interests?" is something I don't know because I've never traded on your exchange. I'm just trying to say that I wouldn't feel comfortable entering a significant position without knowing
exactly how big are the interests
739.
Post 9519313 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
what was btc lowest point in 2014? it wasn't under $250 was it
at early november 2013 btc was around 200... so what
someone said it doubled in a few months, i was thinkin it hadnt gone that low this year that's all
The lowest was 275 I think. I remember getting excited to see what would happen if the price dropped below the high of the previous bubble for the first time...
Now it appears I may never know
740.
Post 9520640 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.30h):
Who else thinks we're gonna bounce off 460?
after retracing from 484?
sure
741.
Post 9521939 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
I'd like to see a nice sized dump here to bring us back to the 380-390 range...
Slow and steady as she goes, As low as possible for as long as possible pls, kthx
742.
Post 9522173 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
I'd like to see a nice sized dump here to bring us back to the 380-390 range...
Slow and steady as she goes, As low as possible for as long as possible pls, kthx
Why?
Personally I would like the price to stay reasonable to allow people time to get onboard before the next moon shot.
This smells like wall street insiders loading up and pumping the price so they can sell to the commoners at the next ATH and then dump it again.
I'd rather not have another blow-off top if it can be avoided.
743.
Post 9522427 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Annnnnnndd.... profit taking.
yes, quite encouraging actually, much healthier looking growth if we can step back and take a breather every 50 bucks or so.
744.
Post 9522456 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Nah, they've likely been sitting on that story since october. Probably just set an alarm to auto-post that piece once 400 was breached.
745.
Post 9526552 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Where the f*** is Adam?
Admin of Silk Road 2, second in command.
Just kidding, I don't know
Let hope he's put us aside for family and will be back with his anxious posts following price movements.
Let's hope his wife didn't make him sell all his bitcoins and leave the bitcoin talk forums forever as the condition for letting him out of the doghouse.
Would be tragic,
and typical.
746.
Post 9527151 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
maybe I sound pretty stupid, but can anyone explain me quick what
that indicator tells me "MACD"
Yuck, I don't know about all this technical Crap, but that looks like a coiled spring to me.
I really hope not, I'm hoping that a more mature, distributed environment of exchanges will slow the train down a bit. Efficient arbitrage and all that Crap.
747.
Post 9527266 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
This made me remember when we broke 266 on gox/stamp/btc-e last year.
The exchanges were slowly eating their walls until everyone were on no man's land and we quickly rushed to 350.
I think I am getting old for this.
It's good to see the old timers chime in.
You're never old till you're dead.
Just like bitcoin
748.
Post 9527340 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Holy crap! I have 9 coins left to sell before I have to dip into cold storage! over 15% in less than 24 HRs!!!!!!
it's going to be a very merry Christmas
Thank you for your generosity.
Much Appreciate.
749.
Post 9527475 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
maybe I sound pretty stupid, but can anyone explain me quick what
that indicator tells me "MACD"
(Ahem, I cannot resist pointing out that I helped edit that article, a few months ago.
)
Still looks like a coiled spring to me.
God help us.
750.
Post 9527591 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
maybe I sound pretty stupid, but can anyone explain me quick what
that indicator tells me "MACD"
(Ahem, I cannot resist pointing out that I helped edit that article, a few months ago.
)
Still looks like a coiled spring to me.
God help us.
What does it mean?
I don't know dude, I can't tell you, all I know it's that I'm scared.
For many reasons I would like to postpone take-off, if possible.
If the son of bearwhale could just hurry up and dump already, I would appreciate it
751.
Post 9527709 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
maybe I sound pretty stupid, but can anyone explain me quick what
that indicator tells me "MACD"
(Ahem, I cannot resist pointing out that I helped edit that article, a few months ago.
)
Still looks like a coiled spring to me.
God help us.
What does it mean?
I don't know dude, I can't tell you, all I know it's that I'm scared.
For many reasons I would like to postpone take-off, if possible.
If the son of bearwhale could just hurry up and dump already, I would appreciate it
6 years wasn't enough for you?
Nope. Ideally I'd like six more.
You put to much wealth into this thing at this stage and it becomes top-heavy.. ready to tip over.
Slow and steady wins the race.
(And is it weird that I miss the ramblings of our beneficent overlords?)
752.
Post 9527786 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Time to take the profits on finex! Big thanks for daily 70$+ per btc
Bid sides are to thin to go up more...
Nicely done! We need to dampen the exuberance, and also reward those brave few who are buying the coins you graciously dole out.
753.
Post 9527845 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Just sold 800 BTC on Bitfinex.
Excellent!
Should have quite the chilling effect.
Speaking of chill, am I the only one that thinks it would be nice to just take a step back and relax at 420 range for a while?
754.
Post 9527885 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Just sold 800 BTC on Bitfinex.
Excellent!
Should have quite the chilling effect.
Speaking of chill, am I the only one that thinks it would be nice to just take a step back and relax at 420 range for a while?
Or even better. To 200 and wait another 6 years.
Exactly! Glad to see you're on my side!
755.
Post 9527942 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Just sold 800 BTC on Bitfinex.
50K profit?
Much more. About 90k
There was no 800BTC sell. Eat shit.
Not in one trade. You are right if you are thinking that way.
Going downThanks dude, any time now would be nice
756.
Post 9528034 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
this is some serious trading bonanza
this is price discovery
757.
Post 9528132 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
Crazy shit
Bitstamp 450
Bitfinex 461
Huobi 482
weirdness
Yeah, and climbing on low volume right now, either it's gonna pop, or liquidity is dying up and "to da moon"
I hope there are still some rational sellers out there.. like the ones that have been telling us to "cut our loose" not long ago.
We need more martyrs, more bodies to step in front on the train.
Otherwise, worst case scenario, as shroomsy likes to say, "our coins might be worth more"
758.
Post 9528171 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
What's up with CaVirtex, it's been lagging all afternoon / evening I've exhausted my fiat over there, otherwise I'd give it a nudge, I bet that's Adam cleaning out his closet.
That's discouraging.
I like that debit payment feature, even though it's a low daily limit.
instant funding of fiat and withdrawal of crypto is the crowning achievement of virtex
759.
Post 9528216 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
No one wants to take my 300 BTC at $460. We should go down.
Make it happen already, I can't wait forever.
760.
Post 9528305 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.31h):
No one wants to take my 300 BTC at $460. We should go down.
wait 24 hours and sell for more.
Maybe even 500
Sold. Thank you. See you soon
I applaud your effort, nice to see some responsible actors try to stem the tide,
I pray it will be enough.
761.
Post 9548136 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
bulltrap yo!
Many traps lie upon the road ahead, but the most painful trap is the one where bitcoin crashes up, and you have no coins.
762.
Post 9548432 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
I agree chart buddy. (Good to have you back by the way)
These are indeed tenuous times.
Could go up?
Could go down?
Bitcoin styles.
763.
Post 9548504 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
WOW, my leveraged long seems to be gotten margin called at 382??? (we hit 381.998 but it wasn't supposed to be margin called till 358)
It said it would get margin called at 358?? What the fuck has happend??
Welcome to derivatives 101
Take heart tho, it's not a lesson that can be taught. It must be learned.
764.
Post 9548535 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
WOW, my leveraged long seems to be gotten margin called at 382??? (we hit 381.998 but it wasn't supposed to be margin called till 358)
It said it would get margin called at 358?? What the fuck has happend??
Welcome to derivatives 101
Take heart tho, it's not a lesson that can be taught. It must be learned.
What?? My average price was 375 and I get margin called at 382?
Exactly. You learn quick!
You did not own the asset, you owned a claim on the asset.
Paper shenanigans, and it sucks, but that's what you get, and that is how their system works.
765.
Post 9548549 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
WOW, my leveraged long seems to be gotten margin called at 382??? (we hit 381.998 but it wasn't supposed to be margin called till 358)
It said it would get margin called at 358?? What the fuck has happend??
Welcome to derivatives 101
Take heart tho, it's not a lesson that can be taught. It must be learned.
What?? My average price was 375 and I get margin called at 382?
Exactly. You learn quick!
You did not own the asset, you owned a claim on the asset.
Paper shenanigans, and it sucks, but that's what you get, and that is how their system works.
What the fuck are you saying??
Are you saying some asshole decided he did not want to lend out any usd for me anymore? And he managed to do this AT THE SPLIT FUCKING SECOND we were at 382??
No.
I'm simply trying to explain that there is no spoon.
Edit: ok I'm sorry, that was terrible.
When you give control of your money to a third party, you expose yourself to counterparty risk.
766.
Post 9548640 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
House rules ... you give them your fiat money or your coinz you play by their rules. And all exchanges are like loaded casinos, house always wins.
Unbelievable with an asset like bitcoin, the first digital asset of its kind to allow circumvention of having to deal with crappy house rules people think they are going to beat the house by trading.
Take the coins of the table and leave the house is the only way you can win this game and bitcoin allows you to do this for the first time.
So they can just take my money how they want?
Hey dude, I realize I was kinda flippant before, and I edited my post as soon as I realized what an ass I was being.
Here's the lesson to take away from this experience.
When you give control of your money to a third party, you expose yourself to counterparty risk.
What you experienced is similar to what happened to many people when any number of exchanges, or hosted wallets have failed.
The most important lessons that must be learned are about the core of money and what it means.
767.
Post 9548692 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
House rules ... you give them your fiat money or your coinz you play by their rules. And all exchanges are like loaded casinos, house always wins.
Unbelievable with an asset like bitcoin, the first digital asset of its kind to allow circumvention of having to deal with crappy house rules people think they are going to beat the house by trading.
Take the coins of the table and leave the house is the only way you can win this game and bitcoin allows you to do this for the first time.
Can you explain please?
What exchange are you on?
Have you asked them why your position got closed yet?
OKcoin
Haven't asked them yet
OKCoin is the shit thus far.
Buy buy buy!
Back to $420
Aye aye Cap'n!
Wall eating mode engaged!
768.
Post 9553007 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Ah, what a fine morning. Many thanks to the brave traders that risk their ever building fortunes to keep the price in check. I was getting a little anxious there when virtex nearly broke above 500.
Now the silly Canadians are fiercely defending 420
Blaze it
769.
Post 9555292 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
2000 has a higher probability.
why? because 200 has a higher probability,do the maths
Worked out an equation have you?
I would love to see it.
You do realize the price has hit 2000 more recently than 200?You're drunker than chartbuddy
770.
Post 9556870 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
that monetary velocity formula is a convenient fiction for ivory tower academic economists, e.g. I don't see anything about an human psychology factor in there.
Here's the one I use:
Bmo = N x A
Bmo ~ total value bitcoin M0 (also called 'market cap')
N ~ total number of entities holding bitcoins
A ~ average Amount of value holding entities are willing to hold in btc
It appears likely that N is only going to keep increasing for the forseeable future (perhaps with exponential adoption rates at times).
A will stay around the same but also may increase as the confidence in holding value in btc becomes firmer.
I just had to quote this so I can read it when I sober up.
Carry on.
771.
Post 9556964 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Go home Chartbuddy, you're drunk.
Not sure if people are joking... The plots may seem broken at first sight, but they are a consequence of large changes in the order book, at some distance from the spread. Months ago, the changes were usually small and usually close to the spread, so the plot usually looked like a fairly smooth valley.
I don't think I buy that. The high value plots are too similar. I think Bitstamp is sending out old data.
Either chart buddy is drunk, or bitstamp is drunk, or I'm drunk, perhaps all three, either way, it's all g good
note, I have no account at bitstamp.
772.
Post 9557664 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
you bitches ready for this?
set a course, for the moon.
Welcome back
*edit, please stay chillax on the bullishness, still trying to accumulate here, thx, and best wishes.
773.
Post 9557810 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
FOR FUK SAKE
had my leverage stop loss at the motherfucking bottom.
Trading on noise is just a matter of time before you get screwed.
I'd suggest you try to figure out the larger picture, but I'm not allowed to suggest anything.
774.
Post 9558111 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Will my order at 367 get filled?
Nope
Seems like you're right. And now the weekend is coming to an end.
And yet 370 was so close.
I've missed many times on this kind of shit, by only a couple dollars, and what I've realized is, at some point, you need to just take a position and quit quibbling over the nickels by the tracks while the train is gaining speed.
Again, I can't advise and I only wish you luck.
775.
Post 9561699 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Wow, went to sleep early Saturday night just when it was rallying at $383.
Missed the whole runup to $395.
Just woke up this morning, and it's back to $381.
I think that's the best "keep calm" poster I've ever seen.
Thank you.
776.
Post 9561809 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Huobi's explanation of what happened:
http://www.reddit.com/r/Bitcoin/comments/2mdtxl/huobi_takes_1271000_usd_from_users_profits_during/cm3qanwDue to the very large, rapid price movements on 11/13 and 11/14 and many users trading with 20x leverage, many forced liquidations were unable to be executed at the target price, thus resulting in a situation where cumulative users' losses exceeded cumulative users' profits by 46.1% for the weekly bitcoin futures contract. As stated in the BitVC Futures rules (
https://www.bitvc.com/help/detail?id=81), the systemic losses were allocated to the profitable users proportionally. We understand that this level of loss allocation is unacceptable
and so we are crediting the full amount of losses allocated to users' future trading fees. [...]
So, if I lose I lose, and if I win, I only win half? But don't worry, 'cuz to reimburse you we'll let you lose more money on our site for free!
I like how the transparency of bitcoin tends to expose how corrupt all these non-transparent systems really are.
777.
Post 9565634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
Thanks for that, I missed that one. Us Aussies also now have to pay 10% GST when purchasing Bitcoins through local vendors (came into effect on Oct 1, 2014).
You sure? I thought that you should pay tax on the fees only?
778.
Post 9565720 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.32h):
That is stupid.
Do you also pay 10% GST when you convert Aussie dollars to USD for your vacation to Hawaii?
779.
Post 9588051 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
780.
Post 9588128 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
BUY RIPPLE NOW OR DIE !
did not one of the original devs dump his ripple and run a few months back
That was back when ripple coins were expensive..
Now they're cheap!
BUY BUY BUY!!!
or not
781.
Post 9598377 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
and yes some ppl loves to work free to banks as if they work for charity...
782.
Post 9598392 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
"Ripple claims"
You can not trust anything from a source that is incentivized to lie.
783.
Post 9598457 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
Last post on ripple and it's relationship with banks:
"No problem can be solved from the same level of consciousness that created it."
Good night bitcoiners. The future is ours.
784.
Post 9607804 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
I'd like some feedback from the Eurolanders out there, if possible
I just got this in my email:
This weekend, Swiss voters will be asked whether they want 20% of their currency, the Swiss franc, backed by physical gold.
The people I talk to here in Zürich are, at best, hopeful that the answer is no. They know that such a plan will cause a world of hurt to the Swiss economy and will hamstring the Swiss central bank and its efforts at managing the franc. They all say confidently that the majority of Swiss voters understand this and will veto the plan.
But you can clearly hear in their tone that worry tints their words. The polls are close. And they know that the Swiss feel their economy is too often manipulated by what happens with the euro and the dollar — and the Swiss are people with a deep independence streak.
Thus, there’s a better-than-good chance that Swiss voters shock the monetary world this weekend with a vote that signals the beginning of the end for modern fiat currencies. That will ripple through our world here in the States. But there are ways to prepare …
Anyone who knows any thing about Switzerland think this it's even a remote possibility?
785.
Post 9609064 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
Back to 350, gentlemen.
On one hand, I understand how this could be problematic for some of you, but on the other...
back to fair price
GENTLEMAN PRICE DISCOVERY!!!
786.
Post 9617820 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.33h):
I don't know why i always argue with the biggest haters and trolls
Because they are the most likely to have a differing opinion.
787.
Post 9617846 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
2014 was sooooo shit.
Meh, same like 2012 it seems to me *shrug*
788.
Post 9618054 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
...
Yeah, fonsie, if it once was a good store of value, it's a good store of value now. Because things never change and always stay the same
Are you really that stupid? Because it is at this very moment more in dollar value than it was in 2009, it is indeed a good store of value NOW, it however doesn't guarantee it will be tomorrow. We'll have to wait 24 hours to know that.
Yeah, a long time ago it was a store of value, but for the past year has been a huge bag of dicks.
Such a simple notion, why do you find it so difficult to understand?
Sorry lambsy, gotta call you on this one.
The US dollar has been losing value consistently since the inception of the federal reserve.
Bitcoin is just taking a bit of a breather after an overheated speculation bubble.
The overall trend remains.
789.
Post 9618188 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
...
Yeah, fonsie, if it once was a good store of value, it's a good store of value now. Because things never change and always stay the same
Are you really that stupid? Because it is at this very moment more in dollar value than it was in 2009, it is indeed a good store of value NOW, it however doesn't guarantee it will be tomorrow. We'll have to wait 24 hours to know that.
Yeah, a long time ago it was a store of value, but for the past year has been a huge bag of dicks.
Such a simple notion, why do you find it so difficult to understand?
Sorry lambsy, gotta call you on this one.
The US dollar has been losing value consistently since the inception of the federal reserve.
Bitcoin is just taking a bit of a breather after an overheated speculation bubble.
The overall trend remains.
That's what discourages hoarding and encourages investing. Who but in idiot would invest in a business that earns 10% a year, when one could get more by simply keeping his money in a mattress? (The Bitcoiner's Dream) Fiat is
not intended to be a good store of value.
Regardless of Bitcoin's claim to be a good store of value, over the last year Bitcoin has really been losing it--even when measured in USD! And since we both agree that fiat is utter shit store of value, how shit does that make Bitcoin?
And bitcoin is designed to gain or retain value over time.
Nice try, but I know you're only pretending.
790.
Post 9618253 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Bitcoin is simply a mechanism to allow transparency.
791.
Post 9621355 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
I think you have to be a bot to believe in this rally.
The bots might have been onto something. I didn't name myself “bad trader” because I outperform a Chinese TA bot.
The bots run the show.
The question is who runs the bots?
792.
Post 9621367 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Just to be clear, I'm not saying it won't drop from here, which in itself is probably a
bullish indicator.
A bullrun on fiat? yyAy!
I closed my short on the way up from 350 to 360 in a hoped to reopen it above 370 but I am starting to "panic".
I just trust the market to move against me whatever I choose to do.
Prudent advice. Always consider the worst case scenario.
793.
Post 9622058 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Just to be clear, I'm not saying it won't drop from here, which in itself is probably a
bullish indicator.
A bullrun on fiat? yyAy!
I closed my short on the way up from 350 to 360 in a hoped to reopen it above 370 but I am starting to "panic".
I just trust the market to move against me whatever I choose to do.
Prudent advice. Always consider the worst case scenario.
With my trading skills thinking about worst case scenarios tends to lead into buying at the top and selling at the bottom.
Just stay patient and hope for the best seems like better advice. Some random swing will meet your bids/asks eventually. Maybe.
I prefer to substitute the word "trading" with "gambling"
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
I'm afraid of a situation where retail investors get involved and get slaughtered.
That is the main thesis for "as low as possible for as long as possible."
794.
Post 9622103 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Good morning Bitcoin warriors! How goes the battle?
Has the rotting world of fiat collapsed under the weight of unsustainable debt yet?
Party tiem?
Props when due.
That is some high quality imagery.
Party tiem indeed!
795.
Post 9622112 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
What about STOP orders?
Not a fan personally.
I find they tend to get triggered at the least opportune times.
796.
Post 9622200 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
What about STOP orders?
Not a fan personally.
I find they tend to get triggered at the least opportune times.
I agree. But getting stopped out halfway is better than getting margin called. And it makes it harder to loose "everything".
In warfare, the ones who are willing to lose the most have the advantage.
797.
Post 9622256 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
What about STOP orders?
Not a fan personally.
I find they tend to get triggered at the least opportune times.
I agree. But getting stopped out halfway is better than getting margin called. And it makes it harder to loose "everything".
In warfare, the ones who are willing to lose the most have the advantage.
more like gambling than warfare this is
Gambling is warfare.
Warfare is gambling.
I just hope that this little experiment will expose the fact that the current system of financial trade is broken.
Financial and political transparency is the way forward.
798.
Post 9622302 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
What about STOP orders?
Not a fan personally.
I find they tend to get triggered at the least opportune times.
I agree. But getting stopped out halfway is better than getting margin called. And it makes it harder to loose "everything".
In warfare, the ones who are willing to lose the most have the advantage.
Winning a battle != winning the war
Agreed.
When you actively trade, you
need to win those "battles"
Your stake depends on winning the battles.
When you make strategic investments, you are wagering on the eventual outcome.
It's just a different kind of bet.
799.
Post 9622334 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
warfare is not gambling, warfare is an art... just ask SunTsu
warfare is gambling if you dont know your enemy
Is gambling not also an art?
800.
Post 9622514 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
As long as you enter each position with the expectation that you could lose everything, then I think you'll be fine.
What about STOP orders?
Not a fan personally.
I find they tend to get triggered at the least opportune times.
I agree. But getting stopped out halfway is better than getting margin called. And it makes it harder to loose "everything".
In warfare, the ones who are willing to lose the most have the advantage.
Winning a battle != winning the war
Agreed.
When you actively trade, you
need to win those "battles"
Your stake depends on winning the battles.
When you make strategic investments, you are wagering on the eventual outcome.
It's just a different kind of bet.
Not sure I get the point. Trading vs. investing just changes the frequency with which trades are entered, and the basis on which you base your decision to enter them.
Trading without stop losses most certainly is no different from gambling at a roulette table. With stops and profit targets, it depends on whether you have a predictive edge over the market (which is easily answered to the negative in case you believe that to be impossible in principle
). Same for investing, however: without any edge, the proverbial dart throwing monkey performs just as well as you do.
Thanks Oda, let me clarify.
As I understand it, Trading without a stop loss simply means that you cannot be forced out of your position without active participation.
Placing a stop effectively allows the trading platform, or bot, to automate the decision.
Personally, through my own testing, I've chosen to make my own decisions, because I suck at programming bots.
801.
Post 9622678 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Thanks Oda, let me clarify.
As I understand it, Trading without a stop loss simply means that you cannot be forced out of your position without active participation.
Placing a stop effectively allows the trading platform, or bot, to automate the decision.
Personally, through my own testing, I've chosen to make my own decisions, because I suck at programming bots.
Completely agreed on the practical side of what you're saying. Especially if you're margin trading and stop hunting really becomes an issue, I suppose.
The problem is just that without a stop, your maximum loss is in principle 1 (of a position of size 1), so the Kelly criterion will usually whoop your ass unless you're pretty close to 100% sure you can't lose.
In practice, even if you don't set a hard stop, you probably have something like a stop in mind anyway, and I'm just being a pedant here
EDIT: Oh, understood it now. You mean, you don't have a stop order sitting on the exchange, while I thought you meant setting stop losses in general.
Precisely.
I just hope that "retail investors" fully understand the counter-party risk involved when you give control of your bitcoin to a third party.
802.
Post 9623147 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
I have a feeling that support from a company or one move from a state will change the game.
ETF, Changetip mass adoption, Paypal , i have no clue what will ignite the next growth stage...
In 2014 the network strengthened itself a lot, the number of bitcoin startups is climbing every day, if this is not a growing technology what is. But it takes time, and this year did not break bitcoin as a medium of exchange and payment system. But it was a bad year as a speculative investment if you just bought in.
So yeah, i'm pretty confused about the trend right now, but bottom might have been found. What else can you expect after a year of gradual decline? A new high in a matter of weeks? I would prefer a stable period of growth. More and more people get the bitcoin bug each day.
We had several upwards trends but they were quickly killed by the traders who were desperate to take 50 bucks profit.
This will happen for many more times to come. Possibly till there simply are no buyers anymore.
Every time there are new buyers traders will dump straight in their face and scare them away.
That's how you stop adoption. Traders are Bitcoin's cancer. Slowly killing it.
I realize it's futile to argue with artificial intelligence but I feel compelled.
Dumpers, pumpers, buyers, sellers... all traders are part of price discovery.
The lack of consensus on price can only be solved through markets, market participants, and market makers.
We are witnessing a free market price discovery phase.
The true price cannot be known without this process.
Deal with it.
803.
Post 9626072 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
If you could all hodl the price below 350 until payday at the end of the month, that'd be great.
804.
Post 9634191 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
I suggest that our beneficent overlords hammer this price back down ASAP.
This is getting out of control..
As low as possible, as long as possible gentleman.
And 10,000 pages is cheap. Those that are dumping posts are delusional.
805.
Post 9634208 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
806.
Post 9634441 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Stupid post dumpers. They won't stop dumping their posts until this thread is at 10 pages. When they will stop hurting this thread? We just go up a little to 10k and they immediately start to dump. Are they afraid this thread will have too many pages?
Post dumpers are the cancer of this thread.
...
....
PS:
Dammit!
I thought I had Shroomskit on ignore!!
807.
Post 9634757 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
How many hours have we been on page 10k now?
eh? we're on 9999. AFAIK we've never yet been there.
lol this is getting too funny. We actually made it to 10002 but back down we go.
any idea which direction it will be going? i'm not sure if i should hodl or also panic dump?!
we are still in denial stage, fear stage has yet to come.
Wallobserver was a bubble.Wallobserver is an ever-inflating bubble.
They can slow it down but it cannot be stopped.
(Well, except for Adam, or Blitz, I guess.. either one of those guys could end this at any time)
808.
Post 9634911 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Does anyone care that we have climbed $20 thus far today?
Why would you care? The same thing as the previous 50 times will happen. A dump. Taking us back to where we were before or lower.
I, for one, welcome our new dumping overlords.
809.
Post 9637870 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Does anyone have an opinion on side chains?
where there is a will there is a way.
Necessity is the mother of invention.
810.
Post 9637922 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
Does anyone have an opinion on side chains?
where there is a will there is a way.
Necessity is the mother of invention.
*EDIT*
I'm not sure about the "two-way peg" feature.
As far as I understand it, you peg the value of your side-chain to the value and security of the Blockchain, but once your side chain is established it seems like just another black box where transactions can be opaque.
My feeling is that what it all comes down to, is provable transparency.
Transparency is the killer app.
811.
Post 9637959 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
What?! We are still below 10k page? This is insane!
I'm bearish on page count.
The page count topic is sooooo 50 pages ago,
I'd like to hear what
you think about sidechains...
812.
Post 9638002 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.34h):
What?! We are still below 10k page? This is insane!
I'm bearish on page count.
The page count topic is sooooo 50 pages ago,
I'd like to hear what
you think about sidechains...
I am of the opinion that Side Chains are controversial.
Ah, controversy.
The beauty of a Blockchain is that it requires consensus. It is, by nature, adverse to controversy.
If sidechains will require a hard fork, there will be significant resistance.
813.
Post 9656896 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Monkey wants me to buy bitcoin now.
Continues to hold US long bonds and metals.
He thinks today may be a turning point for oil (again).
He says this is a top in SPX.
Have you noticed if monkey is getting smarter (more accurate) over time?
Also what data does monkey use to predict oil? (Guessing it's price data only, which might not be the greatest indicator for oil.)
I'm curious whether monkey is more accurate on oil predictions, or less accurate as compared to things like bitcoin or gold?
-Sorry to pile on the questions but it seems like ages since there's been any intelligent conversation in here.
814.
Post 9657436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
I own a beanie baby
I own a bitcoin
And soon hopefully I'll own a comic about bitcoin
Do you own a comic about beanie babies?
815.
Post 9657918 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Whiskey and women for the first 20 Bitcoiners!
"I have escaped this hell - and you?"
-I am in the process of escaping the hell of currency controlled by fiat government and central banks -and you?
"Don't wait, get out of it too, there is no other chance."
-fuck yeah, every available fiat dollar. Please keep the price below 380 until at least payday on Friday!
"Better to be a live prisoner than a dead hero."
- ...
They can take our FREEDOM, but they'll never take our BITCOIN!
816.
Post 9658070 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
...
They can take our FREEDOM, but they'll never take our BITCOIN!
Yeah, That's what D
read Pirate Ross used to say. And now his Bitcoin is tanking the market.
Unfortunate
Unfortunate indeed to think that if Mr Roberts had simply employed better control and protection of his private keys, his bitcoins would still remain under his control...
Worst case at least he would have some leverage.. maybe even enough to get the "big bank treatment" and only have to pay a multi million dollar fine, just like all the other crooks that are part of the club...
817.
Post 9658312 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
:~(
Two less data points and we'd have had a visit from Karpeles.
I advocate for a run on the banks, or in this case exchanges. (*edit* actually both)
I would be wary about having money on any exchange at this point. I don't personally have any money being held by a third party, (though I trust virtex enough for the 5 minutes it will take to get money in, grab the lowest ask, and get my bitcoin safely out.) But I just think it's better for everyone in general to take control over their own money.
/rant
818.
Post 9658668 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Smells like a big pile of steaming bullshit to me
819.
Post 9667043 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Payday is Friday. I have a hard time passing up any opportunity to buy below 400.
Normally I just transfer the funds as soon as they're available and grab as many coins as I can get.
But this time I'm not sure if I should wait until after the auction though in case we get a nice dump...
820.
Post 9667196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Payday is Friday. I have a hard time passing up any opportunity to buy below 400.
Normally I just transfer the funds as soon as they're available and grab as many coins as I can get.
But this time I'm not sure if I should wait until after the auction though in case we get a nice dump...
I doubt you will ever get much cheaper again to be honest.
That's what scares me, I guess I'll just stick to the plan.
Here's hoping that we'll get a nice dip from black Friday sales
821.
Post 9670522 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Quick note to Canadians looking to do a little cross-border shopping for black Friday deals..
http://www.cbc.ca/news/world/american-shakedown-police-won-t-charge-you-but-they-ll-grab-your-money-1.2760736"
U.S. police are operating a co-ordinated scheme to seize as much of the public’s cash as they can"
This crap makes me sick - the corruption is so blatant that they don't even try to deny this kinda stuff any more. It's just like "Shut up, slave. We're from the gubbermint and we're here to help. We
need to take your money and trample your freedom in order to protect you because you're too stupid to think for yourselves."
Enjoy football and turkey day everyone, and don't think too much, it could be dangerous.
822.
Post 9676634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Slow day....
Slow day indeed....
Are the eastern markets celebrating Thanksgiving as well now?
Come on HODLers - I need a dump..
I'm getting the same feeling.
Market seems a little too constipated for my liking.
A nice healthy overnight dump would be just what the doctor ordered.
823.
Post 9677764 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
I think we are running up to $400.
based on what ? ..lol you didn't get the memo ? $250ish before the end of the year is my wag *watch!*
I also missed the memo, but I support your proposal whole-heartedly.
(*note* support, in this context, means emotional, spiritual support. Unfortunately I cannot offer support to your campaign in the form of bitcoin. That shit is
MINE!
824.
Post 9677812 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Good.
I think trying to teach bitcoin to sheep is a huge waste of time.
The general public needs to be abstracted from any kind of personal responsibility.
They just can't handle it, and I'm done with trying to explain.
825.
Post 9682121 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
I think we are running up to $400.
based on what ? ..lol you didn't get the memo ? $250ish before the end of the year is my wag *watch!*
I also missed the memo, but I support your proposal whole-heartedly.
(*note* support, in this context, means emotional, spiritual support. Unfortunately I cannot offer support to your campaign in the form of bitcoin. That shit is
MINE!something is bound to happen around new years...right now we are winging it !
here is a brief text touching on the issue >>
http://textfiles.com/uploads/govt.txtThanks for the link. Sums up how I felt during my little rant from last night quite nicely.
826.
Post 9682229 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.35h):
Good.
I think trying to teach bitcoin to sheep is a huge waste of time.
The general public needs to be abstracted from any kind of personal responsibility.
They just can't handle it, and I'm done with trying to explain.
What the fuck dude, they're sheep if they don't buy, they're sheep if they sell, and now they're sheep if they aren't a massive computer nerd who understands every bit of nuance of security required for these things?
Don't be such an elitist asshole. Besides, if you keep calling them sheep, you'll never convince them to become greater fools.
What the fuck babe? Sheep are sheep and I'm just not wasting anymore time on lost causes.
http://textfiles.com/uploads/govt.txt <- (yes, I'm stealing J3's link, hope you don't mind bud.)
If being a free thinker = elitist asshole, then sign me up!
827.
Post 9686030 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Dude, what's tragic is that I am a regular a-- person going to school, with a job, and who was kind of fascinated about the idea of Bitcoin... and a bit of a gambler. You guys are just kind of s---ty people. I really don't know how regular, non-cultists could adopt in mass with this type of pressure/negativity grouping around this effort. The value, I think for a long time, was the community aspect. Now you guys are just myopic. Have fun losing your money and know that your personality deficits are a huge part of the reason.
Thanks for sharing, your cavalier attitude and mood swings make a lot more sense now.
Welcome to the world kid, people are shitty, get used to it.
Over time you will learn to surround yourself with less shitty people, and hopefully you will become confident enough in yourself that the shitty people and what they think will not bother you anymore.
They really have no power over you. Instead, it is you that gives them power.
828.
Post 9686220 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
The major problem that I see with Blockchain.info, and the most likely avenue of the theft, is simply that Blockchain uses your email as your password recovery (and even emails you your unencrypted private key as an attachment upon request.
The attackers likely have access to large amounts of compromised email accounts. Simply search those for any messages from Blockchain and voila!
Withdrawing the funds is still tricky as you still need to log into the website to withdraw, thus the use of TOR.
I work in IT and although I don't have to deal with end users much anymore, I do have to provide support for IT staff from other companies. I would say that less than one in ten
IT professionals that I deal with truly understand crypto. I don't expect the masses ever will.
It's gonna be real tough to make bitcoin idiot proof enough for the masses. I'm bearish on this ever being possible without abstraction by a third party.
In my opinion, bitcoin will be a success if it simply opens the public's eyes to the opacity and corruption of our current system of governance and forces at least some level of transparency upon the established controllers of money.
Price be damned.
829.
Post 9686246 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
The problem isn't blockchain.info, it's Phishing by rogue tor nodes.
A Tor user puts their credentials into these fake blockchain.info sites presented by a rogue Tor node, and then the hackers steal all your coins.
Is Bank of America to blame when people click links in phishing emails and type in their passwords to some dubious site?
Interesting, ok that makes more sense than my compromised email assumption. Added bonus that most TOR users are not the type to get the authorities involved...
I thought it had become obvious that TOR was kinda broken for a while now.
830.
Post 9686352 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Just say "no" to online Bitcoin storage.
Paper wallets FTW.
why not btc insured against theft like circle.com and like money is with banks
How are the bitcoins insured?
Let me guess, if they have all their (your) bitcoin stolen they will reimburse you with the equivalent amount of fiat?
And if the exchange rate changes drastically during the period between the theft and the reimbursement? What then?
831.
Post 9689110 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
*Good morning, gentlemen.
Gentlemen indeed. WTF just happened at stamp?
832.
Post 9689136 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
*Good morning, gentlemen.
Gentlemen indeed. WTF just happened at stamp?
Whatever it is, it's not a coordinated pump.
Smells fishy. I don't like it.
pre-dump Fake-out?
833.
Post 9690031 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
...
Nope. It did NOT feel that bad, and part of the reason is because of the quantity being invested was NOT very high. ...
You must, at the very least, feel real stupid, no?
Or does this "investment" just blend into the background of your other fails?
Probably doesn't feel as stupid as someone like me that sold hundreds in the 5-10 range.
834.
Post 9690541 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Quoted for posterity.
(Just in case the temptation to start dumping posts at 12345 overcomes you )
835.
Post 9690594 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Be wary of that wall just below 380 on stamp.
Looks fake as hell.
836.
Post 9690811 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Be wary of that wall just below 380 on stamp.
Looks fake as hell.
I don't think so. That wall was there yesterday too for quite a long time. It moved a little as it was trying to get the best possible buying position given the price fluctuation but in the end the owner didn't have the chance to get dumped into it before the small take off of today. Now it's slightly
lower higher (srry, my bad) than yesterday.
My 2bits...
No
Haven´t seen a fake one on Stamp for months, neither buy or sell wall.
It seems I stand corrected.
Many thanks gentlemen.
837.
Post 9704232 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Thank you Odalv.
This is the greatest thing I've seen in weeks.
I'm going to print it out and post it above the coffee machine at work
838.
Post 9704344 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Whoever is operating the bot has accumulated 1750 coins already apparently and according to a redditor is throttling the purchases to prevent it moving the price upwards. We are still four days away from the auction. What does someone know?
Do you have the link of this reddit post? I can't seem to find it.
I'm just hoping that the entity running the bot will sell in the same fashion if the price begins to rise too rapidly.
Welcome to the era of stability?
839.
Post 9714159 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
I am certainly enjoying accumulating more XMR at this level. At some point I will just buy it all. Not there yet, however.
Really?
I've been enjoying the up and downs, and taking advantage when I can, but I've not seen much development taking place. I was getting the impression that it's a dead coin...
840.
Post 9714665 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
I am certainly enjoying accumulating more XMR at this level. At some point I will just buy it all. Not there yet, however.
Really?
I've been enjoying the up and downs, and taking advantage when I can, but I've not seen much development taking place. I was getting the impression that it's a dead coin...
Development is one of the top things it has going for it actually. Monero just got a DB blockchain implementation so the whole thing isnt stored in memory anymore. The devs also just developed an online wallet for Monero (XMR)
https://mymonero.com/ and are also currently working on a GUI wallet.
The development team is amazing and they have some big funders to help support its continued growth and development.
Thanks, I'm really not a fan of the online wallets thing tho. Especially when it's just some website that I have to trust not to just disappear someday...
I've been hearing about the impending gui wallet implementation since I first heard of Monero, it just seems fishy to me that something relatively simple like a gui skin for the core wallet client would take so long.
Still have my fingers crossed for the success of this project, but I'm very skeptical at this point.
841.
Post 9718030 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Careful with the christmas presents, ladies and gentlemen. Hold on to your wallets! Remember Dickens's uncle Scrooge. An if you plan to soften up: unlike Scrooge, you must wait until BTCUSD is 1000!
Like Scrooge, I was also haunted by ghosts of Christmas past.
Like Christmas 2012 when I sold too much, or Christmas 2013 when I sold too little.
After a quick visit with the ghost of Christmas future, I have decided not to sell at all.
Ghost of Christmas present was not happy, but whatever, he can go get scrooged!
842.
Post 9722994 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Is that the first time difficulty has ever adjusted downwards?
Lol, no.
Just before Asics started shipping it had gone down several times.
843.
Post 9736359 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
Double bottom in hashrate// perhaps someone has decided the end has come for their equipment. Wonder when the next set of more efficient machinery comes online, besides testing from the manufacturer.
I bolded the part I'll reply to.
We will not see any large efficiency gains moving forward. Everything from here on out will be incremental at best.
From CPU to GPU was a big deal. From GPU/FPGA to ASIC was a big deal.
From 65nm to 28 to 20... it's just incremental gains.
844.
Post 9737848 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.36h):
"Dollar averaging" is not a rational thing to do, it is only a psychological pacifier, right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
Wrong.
If you bought 100 coins at $800, you should buy 200 coins at $400.
And if it drops further to $200, you should buy an additional 400 coins.
Duh.
845.
Post 9764186 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.37h):
Very interesting. Thanks for the link.
Makes sense though, banks would not be interested unless they can cook the books and launder money for their largest clients.
Nice to see the stellar group bring this to light.
846.
Post 9772249 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Price is too flat. Market is stagnant.
I'm hoping for a dip, but my position is mostly set.
I've got a tranche set for 360 and below, but I'm growing tired of waiting.
Oh well, happy holidays everyone, I guess we'll see what the new year brings.
847.
Post 9782130 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Mining hash rate flatlining simply lends support to the theory that price drives hash rate until we reach equilibrium.
Miners don't support the network for free you know, we needs to get paid!
Could be a long term issue? Maybe? Or maybe the price will increase and so will the hash rate.
848.
Post 9782580 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
The only effect that can really drive a declining network hash rate is bitcoin price dropping at a rate that efficiency increases in hardware cannot meet.
Just imagine what might happen when the block rewards get cut in half...
Something's got to give.
849.
Post 9782872 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
The only effect that can really drive a declining network hash rate is bitcoin price dropping at a rate that efficiency increases in hardware cannot meet.
Just imagine what might happen when the block rewards get cut in half...
Something's got to give.
Can't wait.
BTC3,600/day is a lot for market to absorb. Especially with commercialized mining which i expect dump them like hot potato
3600 btc per day is approximately
$1.3 million per day at today's prices... seems like a lot for sure.. but here's some perspective for you...
A third round of quantitative easing, "QE3", was announced on 13 September 2012. In an 11–1 vote, the Federal Reserve decided to launch a new $40 billion per month,
-
http://en.m.wikipedia.org/wiki/Quantitative_easing40 billion per month is approximately
$1.3 billion per day...
I'll say it again, something's got to give.
850.
Post 9783209 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
I'm scared guys, what's going on?
You have an avatar, you should have nothing to fear
We've seen this before, and if stupid virtex would just drop below 400 I'm gonna be buying the hell outta this!
Enjoy the cheap coins everyone (especially shroomsy
)
Apologies, I can't remember the original poster of this classic, but many thanks, whoever you are
851.
Post 9802856 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
its official all the smart poeple have left this thread.
this is bullish.
Alright! Now that all the smart poeple are gone we can really start the party!
BTW,
http://www.bitcoincomic.org is now shipping. Fucking great price of fact-based fiction with many inside references that the old-timers will appreciate.
Highly recommended.
852.
Post 9803562 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Any second now loaded is gonna show up and drop a
in here and then shit is gonna go bananas!
853.
Post 9803751 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Some rumors say sony want to accept bitcoins to
Sony is notorious for losing control of people's data, wasn't there just a few terabytes of data stolen?
Sounds like bitcoin would be a perfect fit.
854.
Post 9803842 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Fuck this, go back down!!!
Remember the run to 475... it will be something nuts like that. Then it will fall back down to earth. I've already been through one of these rodeos... don't try to swim against the market. Just take what's there.
Oh really?
Remember the rodeo ride in 2013 when we went from 200, to 1200, in less than a month?
If you think the downward crash is scary, you just wait till you see bitcoin crash
upI'm just hopeful that the market is maturing enough to mellow the ride this time...
855.
Post 9803914 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
The 400 wall on virtex is still in place,
False alarm?
856.
Post 9803986 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
The 400 wall on virtex is still in place,
False alarm?
The other exchanges dont give a damn if a tiny exchange falls behind.
True, but I don't think there is enough capital sitting on virtex to buy through that wall...
I blew through all my dry powder already
It just makes very little sense to me to try to defend that number considering the CAD is only worth like 80 cents USD right now
*edit* bah, I'm getting as excited over a ten dollar rise as the bears get over a ten dollar dip... time for bed methinks. The next 8 hours are not
that critical
857.
Post 9804075 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Big companies accepting bitcoins hardly did wonder things for the price recently, isn't it?
It adds to bitcoin's legacy for sure but we need stuff to make people buy coins not to sell it.
Yeah, someone should re-quote that epic post by prophetx earlier.
I'd do it, but I'm to tired/lazy
858.
Post 9804299 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Big companies accepting bitcoins hardly did wonder things for the price recently, isn't it?
It adds to bitcoin's legacy for sure but we need stuff to make people buy coins not to sell it.
I think people might be more likely to buy for Xbox or for PlayStation (if Sony jumps in) and I'm a bear by nature. Paypal and other businesses, by contrast, were just places where you could dump your coins for a discount. These, I actually think, might motivate new buys. I could be wrong. It's much better that it is attached to a single, popular product though, in my opinion.
Why would it motivate new buys if they already can buy with other payment options. It can just motivate people who already hold bitcoins to use them to buy Microsoft stuff. It's no different than any other company accepting it so far.
We need Paypal to add "buy bitcoin" option, that would send us to moon, this kind of stuff where you can spend your bitcoins only is proved to not do anything good for the price, except to be reason for short term pump.
I miss bitmit
859.
Post 9804557 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.38h):
Big companies accepting bitcoins hardly did wonder things for the price recently, isn't it?
It adds to bitcoin's legacy for sure but we need stuff to make people buy coins not to sell it.
If more people use coins then we will have more liquidity and more people holding. If you increase the user base with millions who use a bit and hold a bit for a while in uncoordinated random cycles then we will have a much healthier environment than we have now.
The problem is that more companies accepting bitcoin didn't make more people using bitcoins or holding. It didn't make people buy bitcoins to spend them or hold them, most of buys happening with bitcoin at those companies are people who hold coins already, specially early investors.
There is still literally zero advantage for average user to buy bitcoins just to spend them on some site except in illegal purchases.I don't know... Microsoft accepting Bitcoin surely adds heavily to it's legacy long term but I'm not sure it adds any wonders to Bitcoin price except short term pump, just like all others didn't. Until average Joe gets some significant advantage of using Bitcoin to purchase things and could buy it fast and cheap nothing really changes. We need new money in the game and that won't be people buying coins to spend them on Xbox stuff.
That bolded part is bang on.
Bitcoin is not just another payment platform.
Bitcoin is an alternative to government and corporate oppression.
860.
Post 9833160 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?
Sure!
I'd only sell about 2% of my total, and I make most of my btc from mining anyways, but still, that would make for one kickass weekend in Vegas
861.
Post 9833242 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?
Sure!
I'd only sell about 2% of my total, and I make most of my btc from mining anyways, but still, that would make for one kickass weekend in Vegas
This part would require you to sell ALL your coins
Ahh Crap! Foiled again!
And I was really looking forward to that Vegas trip
862.
Post 9844339 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
Yes, yes, yes, yes... I made it happen by stating the opposite!!! Yay!!!!!!
Queue the uptick.
863.
Post 9852598 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
Does China look strong or is that just me?
edit: the walls
BFX is in panic mode however
If that 340 wall on stamp gets broken, things might finally get interesting.
864.
Post 9852629 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
this really doesn't look good.
Always darkest before the dawn.
865.
Post 9853021 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
ripple fucks bitcoin, that's what's happening here imo.
ripple is fuel that powers a network, a seemingly useless, centralized, closed source, network that no one actually uses, you might be right that its current pump is " taking liquidity out of BTC " but i can't believe these effects will be long lasting. idk who in their right mind would touch ripple after they double the supply overnight. i can't understand why its being pumped, or how the pump has managed to stick...
makes no sense! i dont get it! dont try to explain it to me, I don't wanna hear it.
It's not a pump.
i wouldn't be surprised to learn that ripple is the future of useless, centralized, closed source, networks, and see it double one last time, on the news, coming soon, i still can't touch it, i just cant!
I dunno, I bought a bunch of that xrp crap, and dumped it once it doubled.
It doubled again since then, but c'est la vie.
I actually do much better on coins that I know are crap, because I find it easier to dump and I'm not inclined to hold them like I do with things like storj, and xcp..
866.
Post 9853242 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.39h):
You have brought this upon yourselves.
And we shall sleep soundly in the bed we have made.
867.
Post 9875706 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
$5 bills, lol
Reminds me of this dude...
Kudos to those banking profits, and thank you for keeping the price as low as possible for as long as possible.
868.
Post 9875929 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Ripple chart
Someone's dump is someone's pump. Might also turn around.
Wait a second, is that graphic actually saying the total supply is 100 billion, but the available supply is *only* 30 billion??
869.
Post 9875976 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Someone's dump is someone's pump. Might also turn around.
In every similar situation in the past (dump n pump), an alt used to be a ''bitcoin sanctuary'' afaic the price. Maybe because this way, it's easier to move around huge amount of money without those being dollars, euros etc. In the past LTC used to be in this role. This time it is Ripple. I really don't understand no other way other than "short-term" storage value for Ripple. The possibility that -at any given time- the ones who made it, can also call it off simply makes me wary.
Dude, what about the 70 billion xrp outstanding, just waiting to be dumped?
This thing is almost as scammish as private central bank fiat money!
Edit
And this my friend is the reason, why Ripple is the wrong pill. It's not designed to make people more free, but keep the current system alive! This is also, why banks and governments will like it more than Bitcoin.
Bitcoin is a movement for freedom and human rights. Ripple might lead us in a dystopian future. We will se how it plays out and which pill people choose.
This is why I wonder, who are the real supporters of Bitcoin - taking a very high risk, to free society! And are not in it for the short time profit - which definitley can and will be made in Ripple from here on.
Thanks dude, that makes more sense.
This may be a losing battle, but it's one I intend to fight till the end.
"They can take our FREEDOM, but they'll never take our BITCOIN!"
870.
Post 9876137 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Ripple chart
Someone's dump is someone's pump. Might also turn around.
Wait a second, is that graphic actually saying the total supply is 100 billion, but the available supply is *only* 30 billion??
Yes, the creators hold 70% of the total supply
Are they based out of Florida by any chance?
http://cryptocoinupdates.com/florida-group-faces-fraud-charges-for-alleged-altcoin-pump-and-dump/
871.
Post 9876220 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Ok, way past bedtime but I just had a thought about this story
http://m.bbc.com/news/world-us-canada-30508944http://mobile.bloomberg.com/news/2014-12-17/putin-s-secret-gamble-bet-on-ukraine-backfires-in-ruble-crisis.htmlI'm thinking this will eventually lead to Russia issuing some kind of gold backed ruble and signal the next escalation of the currency war.
I'll have to catch up with your thoughts/comments in the morning. Good night all.
872.
Post 9876290 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
873.
Post 9892833 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Amazing opportunity to buy people.
Cheap coins.
Buy, buy, buy before we rise to 400 USD again very soon.
Come on noobs buy.
Shhhh, not yet.
I've been talking non-stop to my friends and family about bitcoin for the last 3+ years and I just today finally had the first person ever ask me how to actually set up a wallet.
Everyone I know feels like they missed the boat. Hell, they felt that way when the price first went over a hundred bucks.
I'd like the price to remain as low as possible for as long as possible so that if it does indeed reach over 1000 again I don't feel bad when I tell people "sorry you missed out, but you had your chance... TWICE!"
plus, I'm not done accumulating yet
874.
Post 9893398 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Bear trap, Ripple to 10$ in 2015
Meanwhile BTC @double bottom bull trap, going to single digits
Less nonsense and moar dinosaur TA
thx
875.
Post 9893792 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Amazing opportunity to buy people.
Nah, slaves are a pain. If they get sick, die, etc. it is a capital loss...
Better hire free laborers: cheaper overal, if one breaks you just get another, no extra expense.
Well done prof.
The added irony that we are all slaves under private, centralized money control is just icing on the cake.
876.
Post 9895027 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
I dunno, I heard this kind of rhetoric many times on both sides of the coin.
Especially shit like this:
You heard it here first. The bear market of 2014 is dead. It was pronounced dead at a Bitcoin Price of $307 on Dec 20, 2014.
That kind of talk does not instill confidence. In fact, when I hear someone make a call like that I'm often inclined to bet against him/her.
Having said that, I'm currently buying all prices below 400 CAD
It's all or nothing at this point for me. Either we go up, and I stop adding to my position, or we go to zero and it was fun while it lasted.
Enjoy the ride everyone!
877.
Post 9895289 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
This is not looking good, low volume, not enough dumping,
And where the hell are all the trolls? They run and hide when we need them most!
We need a big dump right now to take us back down to 300,
Hehe, 300, anyone still around who remembers when we broke 300 to the upside last year?
878.
Post 9895559 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Hehe, 300, anyone still around who remembers when we broke 300 to the upside last year?
Naw, they all moved to Cannes.
Meh, too humid for me
879.
Post 9896004 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Holy Crap people, can you just settle down already, I don't need price alarms waking me up all night
Oh, and macsga, you need to work on your trolling technique, I thought you'd have leaned something from the past few months of watching the professionals
"As low as possible for as long as possible" plz
Not spam shop and Billie jo banjo are just never around when you need them ;-)
880.
Post 9896062 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Daily chart reality is still a strong downtrend and likely rallies are just another shorting opportunity.
I hope you're right, but I've seen this before, again and again...
Maybe this time it's different? More exchanges, more participants?
We need some whales to step in front of this train and dump this pump already!
Still mediocre volume, nice place for shorts, right?
881.
Post 9896209 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Bitstamp flattening out, time for a dump?
882.
Post 9896338 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
883.
Post 9898843 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
In the morning wall observers!
Nice to see that someone applied the rocket brakes while I was sleeping and bravely jumped in front of this train.
I'd like to thank the traders for their courage.
884.
Post 9900648 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Floating higher on low volume.
Sometimes indicates an impending dump, most likely just noise.
885.
Post 9901516 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
bitcoin will go to the mooon soon
bought another 20btc
Don't forget to take some profits on the way up, leave some coins for us little guys, sheesh
886.
Post 9901748 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
CCM.....
I'm not falling for that one again....
Not getting excited until 500s!
Heh, I'm not getting excited until 5,000s
Or double digits, lol
887.
Post 9901916 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
tl;dr: Miner’s main output is a secure network, apps will be the main driver of bitcoin’s price, speculators are healthy, and volatility should not be feared.
But what about the idiot traders?
888.
Post 9902330 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
come on bulls. give us a little magic to close 2014 with.
NO MAGIC FOR YOU!!
889.
Post 9906443 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
...
I don't think I've ever seen anyone so willfully dense as our beloved professor.
890.
Post 9907608 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Thank you for the link, it certainly looks interesting.
Good to see that some academics are actually doing work rather than just trolling internet forums.
891.
Post 9907919 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Thank you as well. I am familiar with some of Tim Swanson's work, but I had not checked out his blog.
Some interesting stuff about smart contacts and using Blockchain technology to manage assets.
892.
Post 9919893 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.
https://blockchain.info/el/charts/difficultyIt's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.
Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's
I often hear "only large industrial size mining farms can be profitable"
This sentiment gets repeated until it is largely accepted as "fact".
But a home miner does not need to lease a large factory space or airplane hangar, and in the winter the electricity is effectively free. So I think the small miners can still compete by virtue of having lower overhead costs.
As an example, my cost right now is approximately $100 per bitcoin mined, and I don't sell any.
Other miners please feel free to chime in...
893.
Post 9920872 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.
https://blockchain.info/el/charts/difficultyIt's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.
Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's
I often hear "only large industrial size mining farms can be profitable"
This sentiment gets repeated until it is largely accepted as "fact".
But a home miner does not need to lease a large factory space or airplane hangar, and in the winter the electricity is effectively free. So I think the small miners can still compete by virtue of having lower overhead costs.
As an example, my cost right now is approximately $100 per bitcoin mined, and I don't sell any.
Other miners please feel free to chime in...
$100 per coin
including your hardware costs?
Yeah, hardware costs were recovered long ago.
894.
Post 9921043 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.40h):
Re: mining. I think a lot of people were figuring their profit loss based on calculators that assumed the exponential increase in difficulty would continue forever.
Also, I think calculating the cost/profit/loss of a mining rig should not take into account fiat conversion and should be done purely in bitcoin.
The early batch of Neptune miners were available for around 11 to 12 bitcoins each for existing customers of KNC. At that price I was fairly confident that I would be able to mine at least that much back within 6 months of receiving the hardware... of course that is all highly dependant on when you receive hardware, difficulty, etc... many variables... much risk.
I've been mining since 2011 and I plan to continue mining until I move somewhere where it's not -20 degrees outside for 6 months out of the year
895.
Post 9929035 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
That is pretty sweet looking chart,
I'd like to see a chart of best performing currencies of 2013, just to put things in perspective.
896.
Post 9930661 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Well this is boring. Go watch the XMR chart instead. Up 30% today
some days one altcoin rises a lot, but every day we see lots of alts going nowhere but down.
It is like gambling.I could instead watch the guy that managed to win 1M from few dollars by winning a giant parlay
Speculation is gambling, investing is gambling, walking across the street is gambling.
Doesn't matter if it's bitcoin or gold or stocks or your 401K or fiat in the bank.
Assessing the risk and managing it properly is where you should concentrate your efforts.
897.
Post 9930682 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Well this is boring. Go watch the XMR chart instead. Up 30% today
some days one altcoin rises a lot, but every day we see lots of alts going nowhere but down.
It is like gambling.
I could instead watch the guy that managed to win 1M from few dollars by winning a giant parlay
XMR is not a gamble: It's got the only viable tech for dark liquidity, and leads the market in software, liquidity, and social capital. XMR is not an "alt": It is an innovation on par with BTC in its sophistication and in its economic importance.
XMR questions: have you looked at that new web wallet? Is it secure? Is it traceable?
898.
Post 9930709 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Also, a treat for bitcoin bears, Vitalik outlines many problems, and even some possible solutions.
https://epicenterbitcoin.com/podcast/058/I'll quit spamming now
899.
Post 9945720 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12[ Warren Buffett: ] “Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it,
but you can replicate it a bunch of different ways and it will be.
The idea that it has some huge intrinsic value is just a joke in my view.”
Read more:
http://www.gobankingrates.com/personal-finance/6-things-warren-buffett-says-should-money-2015/#ixzz3MwXTOAlWI don't know how Warren can identify one of the many reason bitcoin has value in the banking industry particularly and think it has no value loooool
Perhaps because he figured out one key fact (in purple) right away, that bitcoiners have closed their minds to?
Merry Christmas professor! Indeed it is true that the protocol (open source) the tokens (open source) and the code (yea, you get the idea) can of course be replicated...
It's the idea that is beautiful, it's the idea that will propagate, it's the idea of transparency and honest money that
can not be subjugated to corruption and hijacked by servants of large organizations funded by forced, involuntary contributions of the
slaves - sorry, - citizens.
My Christmas wish is that all peoples would be made aware of the corruption of the current system and be made incentivized to work towards a better solution.
(Including you, "professor")
900.
Post 9945881 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
13. Change the subject. This technique includes creating and/or publicizing distractions.
Well done trolls.
http://cryptome.org/2012/07/gent-forum-spies.htmI'm not sure how asking for transparent, honest money turned into communist ideals, but I have to say that the immediate and vehement propagation of your distracting posts leads me to confirm that you are not acting in the interest of the common good.
Either put forth an argument that the current system is not corrupt, or purpose a superior alternative.
901.
Post 9945950 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...but I have to say that the immediate and vehement propagation of your distracting posts leads me to confirm that you are not acting in the interest of the common good.
lol.
what's next? the party will deport us to mine some coins in a gulag?
What's next is where you explain how my plea for a transparent and open approach to honest money prompted you to post a communist flag and breadlines in response.
902.
Post 9945993 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
my gift to myself this xmas is just ignoring all the trolls.
why would you miss out on that fun?
Lol, I normally stay out of this kind of Crap, but I had some very interesting conversations during holiday festivities and now I'm drunk and looking for a fight...
Much fun, many lulz.
903.
Post 9946041 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
Either put forth an argument that the current system is not corrupt, or purpose a superior alternative.
...
Your paranoid delusions aside,
there has been nothing honest or transparent about Bitcoin from the moment when people realized that it was Beanie Babies 2.0, with the associated get-rich-quick faithful ready for exploitation.
Take this forum: The Securities sub, the "industrial" side of Bitcoin, is solid, wall-to-wall scam. Lending section: No one ever pays back, Pirate, Goat, Ukyo loan, Graet loan, 'nuf said. The "scam accusations" sub is probably the most read sub here
Thanks NLC for response, but you did not offer superior alternative
or evidence that current system is not corrupt.
There are many scams, I agree. But the bitcoin protocol has been open and honest since it's inception, and all participants are voluntary.
Come on dude, I know you can do better than that.
904.
Post 9946072 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
Either put forth an argument that the current system is not corrupt, or purpose a superior alternative.
...
Your paranoid delusions aside,
there has been nothing honest or transparent about Bitcoin from the moment when people realized that it was Beanie Babies 2.0, with the associated get-rich-quick faithful ready for exploitation.
Take this forum: The Securities sub, the "industrial" side of Bitcoin, is solid, wall-to-wall scam. Lending section: No one ever pays back, Pirate, Goat, Ukyo loan, Graet loan, 'nuf said. The "scam accusations" sub is probably the most read sub here
Thanks NLC for response, but you did not offer superior alternative
or evidence that current system is not corrupt.
There are many scams, I agree. But the bitcoin protocol has been open and honest since it's inception, and all participants are voluntary.
Come on dude, I know you can do better than that.
He is incapable of learning. He needs special teachers with marshmallows and electrodes to learn anything at all.
I think you underestimate his trolling powers, he is actually trolling me as we speak!
905.
Post 9946184 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Edit @shmadz re. "Bitcoin = transparency":
BTC-e, could you tell me where it is located & who runs it, in case they decide to transparently take off with my coin?
Oops, missed this part,
I have long been suspicious of btce and yet, in my experience, they have always acted in a trustworthy manner.
I like the fact that every time I log in, I get a confirmation email, so that IF I were ever to get an email when I didn't log in it would signal me that my account is no longer secure. Also, all withdrawals from my account also require email confirmation...
I still suspect insider trading and other shenanigans on that exchange, but they've never done me wrong, although some of the spikes and swings have given me reason to question.
I don't know where they're from or where they're located, and it's always possible for a third party to just take your money and run, (recent shenanigans in cypress as an example)
Personally, I feel that CaVirtex is just as trustworthy as any other bank for the purposes of exchanging currencies, and I feel much more comfortable with keeping the majority of my liquid assets in crypto-assets that I can safely secure without any trust in a third party.
906.
Post 9946211 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
I just went to sign in to Poloniex, and the captcha is gone. Something fishy, or is this the way it is now?
They changed their platform, check box to click to say you're not robot, I got that too, I'm guessing it's ok, but I really don't trust any third party with large amounts. Transfer costs are usually trivial so you can mostly use these platforms with minimal risk.
Just my experience, please don't take this as an endorsement
907.
Post 9946257 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
I have long been suspicious of btce and yet, in my experience, they have always acted in a trustworthy manner.
I like the fact that every time I log in, I get a confirmation email, so that IF I were ever to get an email when I didn't log in it would signal me that my account is no longer secure. Also, all withdrawals from my account also require email confirmation...
TL;DR: You don't know who runs the exchange you use, where it is located, where it is registered, or whether it is registered at all.
But you get a good feel from them, because you get emails.
That's certainly going to end well.
Very transparency. Much protocol. Wow.
Nice, and yes, I trusted them just fine when I was trading litecoins back in the day,
I haven't used that exchange in over a year, and in the meantime our quaint little Canadian exchange is fully registered and fully compliant and just as safe as any other legacy bank, thank you very much.
908.
Post 9946312 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
I <3 Cavirtex, I hear VoS isnt bad either
I hear vos is legit and everything, but I've spoken personally over the phone to the cavirtex CEO, twice.
I've also seen him give testimony in front of the Canadian Senate.
These kind of things give me a certain amount of confidence... and still I hold the majority of my funds in cold wallets and I like the fact that even though I trust the exchange, I don't
have to trust the exchange.
I can secure my own coins.
909.
Post 9946393 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
I <3 Cavirtex, I hear VoS isnt bad either
I hear vos is legit and everything, but I've spoken personally over the phone to the virtex CEO, twice.
I've also seen him give testimony in front of the Canadian Senate.
These kind of things give me a certain amount of confidence... and still I hold the majority of my funds in cold wallets and I like the fact that even though I trust the exchange, I don't
have to trust the exchange.
I can secure my own coins.
I've switched to keeping them on a hardware wallet.
I assume you mean trezor? I've heard that's safe, but I just don't trust new stuff...
I'm especially hesitant after hearing about bad USB attacks...
https://srlabs.de/badusb/Not sure how relevant this attack vector is, but I'm sticking with offline paper wallets in the meantime
910.
Post 9946421 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
I don't know where they're from or where they're located, and it's always possible for a third party to just take your money and run, (recent shenanigans in cypress as an example)
...
You did mean NeoBee's Danny Brewster when you brought up Cyprus, right?
Lol, nice re-direct, but no.
I meant when the major account holders were given two weeks to get their money safely out of Cypress banks before the money from the slave classes was outright stolen.
http://www.zerohedge.com/news/2013-04-02/ron-paul-great-cyprus-bank-robberyWhy bitcoin? Because!
911.
Post 9946481 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
I meant when the major account holders were given two weeks to get their money safely out of Cypress banks before the money from the slave classes was outright stolen.
...
Ahh, funny, because Danny Brewster didn't give any warning at all.
BTW, remind me how many euro had to be in the slave's account to start losing money? Was it 100,000.00 (one hundred thousand) Euro?
Funny indeed.
http://www.businessinsider.com/cyprus-bailout-statement-by-the-president-of-the-republic-mr-nicos-anastasiades-2013-3"When the banks control the money, what hope do the citizens have?"
912.
Post 9946502 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
BTW, Any peeps who cry out "don't quote the trolls" this is simple debate, if you find it offensive, just go ahead and ignore me too.
913.
Post 9946584 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
BTW, Any peeps who cry out "don't quote the trolls" this is simple debate, if you find it offensive, just go ahead and ignore me too.
Calling "troll" is one of the ways the early birds here deflect any sort of criticism.
Point taken.
I will refrain from using that term in the future.
914.
Post 9946638 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
I feel Rickrolled.
You also seemingly missed my question:
...
BTW, remind me how many euro had to be in the slave's account to start losing money? Was it 100,000.00 (one hundred thousand) Euro?
I don't understand. You are saying that if I have a large amount of liquid assets I should expect them to be stolen by bankers or governments? (One in the same, really)
Or are you just saying that as a slave with less than 100,000 that I should just shut up and be happy about my situation?
915.
Post 9946711 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
There's lots of talk about cheap Bitcoins
So what USD Value do you think a Bitcoin would be cheap ?
Below average mining price, whatever price that may be.
We soon may find out however.
The world was willing to pay 80$ a barrel of oil because that was the lowest price offered. Now the Saudis are offering it cheaper (because they produce it cheaper) and the world is willing to pay 60$. Obviously value is some combination of both.
So the question becomes: who will be able to produce the cheapest coins, and if the world will be willing to pay that price when it hits?
I removed my statement because it was redundant.
There is a real need for oil, production is currently outpacing demand, thus the price adjusts.
There is also an argument to be made that there is a demand for a legitimate alternative to the current fiat system of money.
Bitcoin may or may not be the answer, but at some point, something has to give.
916.
Post 9946768 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
I feel Rickrolled.
You also seemingly missed my question:
...
BTW, remind me how many euro had to be in the slave's account to start losing money? Was it 100,000.00 (one hundred thousand) Euro?
I don't understand. You are saying that if I have a large amount of liquid assets I should expect them to be stolen by bankers or governments?...
No, I'm merely suggesting that if you have over 100,000 euro in the bank, you're doing alright for a slave. Some might even say relatively well.
I've personally met free men with less, strange but true!
Won't lie tho, I have a hard time feeling pity for folks with over 100K in the bank. I'd go so far as to say I don't. Especially if they have the gall to call themselves "the slave class"
Those fiat dollars in the bank are merely the chains that bind the slaves.
Or so I've been taught to believe by my Beneficent Reptilian Overlords...
917.
Post 9951112 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Anyone have any thoughts on Today's Bitcoin Bowl?
For promotion they should have been handing out paper wallets, like scratch tickets so the private key is covered, and some instructions on the back. When you buy merchandise, you could show your wallet to the vendors and they could load some coin as kind of cash-back promotion...
918.
Post 9958139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Bitcoin is dying?
How do you kill that which has no life?
You need to shoot it in the head, duh.
Have you never seen a zombie movie before?
"Bitcoin, the currency of choice for the coming zombie apocalypse."
919.
Post 9959140 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Are you happy now?? Isn't this what you all wanted? You've been cheering for cheap coins all year so you should all be happy
Exactly. I truly don't understand all this complaining, confusion and fear.
Just 6 months ago you were begging for cheap coins. Every small dump was heaven.
What happened? Is it not fun anymore?
These god damn traders are a disease. WHY AREN'T YOU CELEBRATING YOUR CHEAP COINS?
Traders are providing liquidity and assisting with price discovery.
Why do you care so much about price?
Interesting new things are being developed every day.
http://podcast.runtogold.com/2014/12/btck-120-2014-12-24/
920.
Post 9961221 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
...
Need a rally next week to bring up BTC to a safe level.
I Disagree. Need large sustained dump to fill my bids.
As low as possible for as long as possible.
921.
Post 9961564 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Lol, looks like a tidal wave.
I hope you all have plenty of bitcoins ready to dump to prevent the tsunami...
922.
Post 9967979 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
i am thinking to change all my btc in bitshares and ripple
Crack on!
sell all your coinz!
Invest in RIPPLE AND TEH BANKZ!!!!1
This is a Bitcoin price movement tracking & discussion thread, not a ripple pump thread. Please restrict the discussion to Bitcoin price movement tracking.
Hmmmm, ok,
The price of one bitcoin 10 days ago was 10,000 ripples, today it's 13,000 ripples.
Am I doing it right?
923.
Post 9968556 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Am I doing it right?
Yes but you need to change your signature from this.
"The only thing about
bitcoin that matters is that it is an accurate ledger of transactions, that it is open to the public, and cannot be fucked with."
to this
"The only thing about
ripple that matters is that it is an accurate ledger of transactions, that it is open to the public, and cannot be fucked with."
Ok ok, let me try...
The only thing about ripple that matters is that it is a ledger of transactions between parties that must be trusted not to fudge the numbers, that the issuance of the underlying currency is totally controlled by those trusted parties, and that only the trusted parties are allowed to change the rules as they see fit.
Yup, nailed it!
924.
Post 9969911 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
3 years ago I would have laughed if you told me bitcoin would be $300 in 2014. what are you all complaining about
just under 5 years ago I read an article about something called "bitcoin" and I made a mental note in my brain that it would reach $1000 before or in 2015.
so yea.... depends on one's perspective and expectations...
I also assumed that improvements would be made to the protocol like cutting the time between blocks and other obvious scaling improvements.
I thought that if it hit $1000 by or in 2015 that it could easily go to $10000+ by 2025.
However, again I was under the assumption that the protocol would improve in its scaling factors.
Given the poor performance of the bitcoin dev's and miners to improve these scaling factors, and the fact that a lot of people waste energy on hacks to work around these scaling issues, I am less confident of it reaching $10k.
However I could see the coin going so low in value that the dev and mining community would risk a hard fork in order to improve those scaling factors as a last ditch effort to shore up this generation 1 tech.
thats why we have numerous alt coins
assuming that PoW is the decided mining method, you would need it to be an SHA-256 algorithm, to allow the Hundreds of Millions of dollars in existing equipment to be relevant. Interestingly, the brief paycoin rush demonstrated that with minimal co-ordination more than 20% of the bitcoin network moved over to an altcoin in the span of a week.
1minute blocks are the future, but come with a lot more blocks to store on drives, and i hope we see it become an issue by late 2015. right now the system works - improvement is second to security
Did you hear the interview with vitalik where he mentioned a two tier coin?
Like a symbiotic secure coin and volatility coin pair, where the volatility coin would provide the needed liquidity to keep the price of the stable coin stable?
Also some stuff about hybrid pos/pow systems, and how the miners really have no power in the system at all. If the wallet holders, the people that run the full nodes and the core wallet software decide to fork, the miners are kinda out of luck... can't even mount an attack at that point if you were to change to something other than sha-256...
Was very interesting to me, and thought it might be interesting to you, as a fellow miner. Hang on one sec I'm get the link
Edit*
https://epicenterbitcoin.com/podcast/058/@17:30 - forcing every miner to run a full node, eliminating the efficiency and centralization of pools, (not sure if this would actually work to fix centralization, but interesting nonetheless)
@33:15 decentralized proof of stake pools, kinda interesting, still doesn't fix the problem of large stake holders controlling a fixed amount of the issuance, but still intriguing.
925.
Post 9970519 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.41h):
Thank me now, or cry later.
went margin short.
right on track, fuck it.
My fiat is moving to catch some 2** coins
Good luck.
I have absolutely no indication or premonition on how this is gonna go. If you have data that you feel comfortable acting on at this point, kudos and best wishes, but right now I'm feeling this is pretty much a coin flip.
Long term as well i am uncertain.
If it survives until at least 6 months after next reward having I expect at least 10k but I could not place a good probability on the chance that bitcoin will still exist at that point. So still an all or nothing bet to me at this point.
926.
Post 9997760 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
Happy new year wall observers!
Here's to many more cheap coins in 2015!
"As low as possible for as long as possible"
927.
Post 10008654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
come on baby, stay low just a little longer! i need to buy some.
my sentiments exactly
Careful, those sentiments are not taken kindly around these parts...
Happy new year wall observers!
Here's to many more cheap coins in 2015!
"As low as possible for as long as possible"
With great momentum to my ignore list, happy new year and good bye
928.
Post 10019189 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
Love that pic.
Meanwhile bids are getting filled at 336 on virtex (that's roughly 285 USD)
Odd that Canadians are that bearish.
929.
Post 10019617 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
Boom! I just watched the wall at 310 on stamp vanish.
Quite exciting, this roller coaster. Exhilarating and gut-wrenching at the same time.
930.
Post 10019695 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
So at what point do the avid early adopters stop smirking "Bitcoin is doing just fine." and "Quiet you! I bought at $30, blah blah blah" and start to recognize that there may be a serious problem here with apathy and lack of adoption going on?
Say, at $200? $100? $50? How low does it have to go before the realization that no one gives a shite about bitcoin any more starts to set in?
Hmmm, good question...
Below 275 - surprised, but not astonished
Below 200 - some hesitation and doubt and worry
Below 100 - outright disbelief, I'd probably be paralyzed at this price and unable to act
Below 50? I'd probably throw another couple grand at it just in case it doesn't die
931.
Post 10019793 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
good idea to go long now?
opened, let's see
still remembered the 30k BTC sell wall at $300 that got gobbled up ......
the support at $300 should be quite strong.
It seems a lot of volume rushes in at these levels. That being said, there will be no slowdown in production till 2016.
I can imagine a scenario where the persistent, relentless selling from institutional miners will discourage bag holders who got in recently (within the last year) and they could indeed dump their bags and make a bad situation worse.
It's like a war of attrition. What will run out first? Supply of new coins from sellers incentivized to sell at almost any price? Or supply of fiat from buyers who believe in the long term success of bitcoin?
This could be a long and ugly battle.
932.
Post 10022867 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.42h):
Welcome BTC to 2015, a continuation of the 2014 Bear Market.
Looks like we will continue this way for a long time
(hope I'm wrong
)
(I hope you're right
)
I'm not kidding when I say I'd like to see the price stay as low as possible for as long as possible.
I've now finally reached my original target and if the price stays below 400 for another year or so I should be able to raise my (rather modest) target + 50%
Also, this little experiment is not nearly ready for prime time adoption. Non technical people will need fool-proof methods of using bitcoin. Regulations will need to be established if you truly want mass adoption. This isn't just some silly app that might leak your nude selfies across the internet. People will need to be abstracted away from actually having to deal with bitcoins by instead dealing with regulated, insured entities, exactly the same way they deal with banks today. -- the only good news is that if you are even remotely interested you can learn to do it yourself and side step the banks, but I have not much faith in the main-stream-media fed, distracted masses ever bothering to understand anything more difficult than honey boo boo or duck dynasty.
933.
Post 10026441 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
I cant be the only person calmly buying here. We were here four months ago. Time to do the money shuffle again.
You still have fiat left? Nice, I got cleaned out at 320 CAD and next deposit won't clear till sometime next week
-- btw, any one complaining about a one hour confirmation being too long obviously never tried moving fiat from one bank to another during holidays/weekends
Careful man, seriously.
In total honesty if even the last possible 2012 support trend line breaks it's gonna be a bloodbath.
I would suggest you put stop losses in place just to be safe, but you probably think I'm trolling you, so, do what you think is best.
Stop losses? LOL!
I deposit fiat to the exchange. I withdraw bitcoins to cold storage. Then I wait.
If bitcoin is still a thing in a couple years, I plan to maybe sell a few and buy a new car. If not, I guess it's a good thing I got a Toyota, those things will run forever
934.
Post 10026489 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
A BIG bankruptcy in the mining world would be hugely bullish for BTC
I suppose that pools cannot go bankrupt; if the pool company fails, its miners will move to another pool. Pool miners will turn off their machines individually, so their "bankruptcy" will be gradual.
The largest non-pool miners may have 10-15% of the total. If a couple of them suddenly go off-line, the block rate will fall in the same proportion, and ditto for the supply of new coins. The price may recover for a while. But in a week or two the difficulty will be readjusted, and there will be again 3600 new BTC entering the market every day.
I have no idea why galdur seems to think that the difficulty would drive the price, when it is obvious that it is the other way around.
935.
Post 10027017 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Monday's headline in mainstream media:
"Bitcoin under $300; despair and capitulation tear through the Bitcoin enthusiast forums". Quote of the Day: "I can't believe I once believed in bitcoin."
when you start seeing headlines like this, that's when you know it's time to buy.
Also "bitcoin is dead, again"
936.
Post 10027051 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
LMAO @ BTCChina order book!
Holy Crap!
Is the reverse of your signature also true? "Sometimes when it looks too bearish, it's actually bullish" ?
937.
Post 10027136 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
*edit*
"Is this even possible?"
No, not really. It's basically a feedback loop. unprofitable miners will turn off slowly and gradually the hashrate will follow the price, though there can be considerable lag.
938.
Post 10027246 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Honey, bitcoin crashed to $290... we gotta sell the house...
... to buy more bitcoin.
"Honestly honey, you'll love the new apartment, and it's only temporary..."
939.
Post 10027343 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Can somebody share with all of us, at what price level does BTC becomes unprofitable for the miners and they start shutting off they rigs and BTC collapses completely? Is this even possible?
At current difficulty, on 20 nm process and 10 cents per kWh, I'd guess around 200, maybe a little less...
with free electricity around 0.1 dollars i guess
There is overhead such as rent labour cost of miners and upkeep.
The reality is that btc mining is not profitable if the network difficulty and price stay at its present rates.
I have updated the Hardware return vs buying bitcoin spreadsheet. The link is in my posted history if you want a copy.
I have a feeling that one reason for the low volume volitility may be due to coin-swap and associated fallout.
I'll know when mining is no longer profitable when I get notice from knc that they are going to ship me the bonus miner I was promised (as long as I pay the shipping)
940.
Post 10027669 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
No, not really. It's basically a feedback loop. unprofitable miners will turn off slowly and gradually the hashrate will follow the price, though there can be considerable lag.
hum hum ... ?
https://bitcoinwisdom.com/bitcoin/difficulty +15% since friday ...
POWAAAAAYeah, I'd suspect there are a lot of newly ordered, high efficiency miners coming on line and because of sunk cost many miners will continue to mine at a loss, for a while, until lower efficiency miners will be forced to shut down.
Here's a thought experiment:
What happens if some crypto with superior features (say Monero just for the purposes of this experiment) starts to gain market share to the point where it becomes more profitable to mine (probably already happening) - but here's the interesting part...
What if that coin decides to allow for some kind of dual-mining algorithm, say perhaps a hard fork to allow the current mining scheme to continue, but also add sha-256 to be mined on the same node, almost like merge mining, to allow for some bonus distribution of coins?
Just a hypothetical situation, but something like this is just one more way to attack the security of the Blockchain...
(Ok, maybe cheap coins are making me a little hysterical, but still, the hash rate protects the network, but in effect the price protects or ensures the hash rate. Just something to think about)
941.
Post 10027906 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
FUCK MY DAMN LIFE IT IS NOT WORTH TO LIFE ANYMORE!!!!!!!!!!!
This is exactly the kind of sentiment that many traders (e.g. Buffett) wait for as a signal to buy.
Blood in the streets indeed...
942.
Post 10028040 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
943.
Post 10028164 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
It's introduced... not in effect as law.
Yeah, and I realize it's got a snowball's chance in hell of ever passing in the US, but it actually looks like it's well thought out and a plausible, measured approach to crypto.
I'm gonna copy paste this to the Canadian Senate, maybe first to Andreas to see if he might forward it along, they (Canadian Senate) seemed receptive to Andreas...
Can't hurt :shrug:
944.
Post 10028246 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Bad news for me are you a trader you don't think about [ Miners ]
I am a miner, and I thought it looked pretty good for miners,
(e) Revenue From Mining or Creation of Cryptocurrency.--It is the
public policy of the United States that the Service's guidance that
taxpayers should have the fair market value of the cryptocurrency they
successfully ``mine'' or produce included in gross income is
inequitable, overstates actual income by overstating fair market value
by not accounting for the liquidity risk or the risk that substantial
effort may yield no production, and strongly and unfairly penalizes or
discourages such income producing efforts and deters economic growth,
activity and innovation.
Is that not good? Or at least better than when they were talking about taxing you on every coin you mine as"income"
945.
Post 10028583 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
shmadz: Are you still profitable as a miner at these prices? At what prices do you stop being in profit considering your electricity cost?
Serious question not trolling or anything
If I were able to write of the capital cost of the hardware, as well as a percentage of my electricity and rent, then yeah, I think I would be able to fully cover any supposed "gains" or "income" that they might want to tax me for.
So yeah, at this price and difficulty it's pretty much a wash.
If you were to consider only electricity, consider the case of a single Jupiter.
About 3TH/s / 320288.938 th/s for the entire network gets you =0.0000093665 of the daily 3600 coins, so roughly =0.0337195536 per day
At ten cents per kWh and about 2kw times 24 hours that's like 4.80 per 0.0337195536 so about =142.350638948 per bitcoin right now...
Of course, in practice, it fluctuates wildly, but that would be the expected average, till the next difficulty change
946.
Post 10028685 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
What about a more modern SHA256 altcoin? One which is more profitable to mine & most miners switch to to make money?
I've also been thinking about this. At the risk of being spammy, allow me to reiterate:
Here's a thought experiment:
What happens if some crypto with superior features (say Monero just for the purposes of this experiment) starts to gain market share to the point where it becomes more profitable to mine (probably already happening) - but here's the interesting part...
What if that coin decides to allow for some kind of dual-mining algorithm, say perhaps a hard fork to allow the current mining scheme to continue, but also add sha-256 to be mined on the same node, almost like merge mining, to allow for some bonus distribution of coins?
Just a hypothetical situation, but something like this is just one more way to attack the security of the Blockchain...
947.
Post 10028842 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Did the bearwhale flash crash happen on a weekend? I forget
It was actually Sunday night, October 5th in my neck of the woods,
948.
Post 10029161 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
i hope everyone got alot of popcorn and fiat tonight
Unfortunately, due to paycheck timing, (and admittedly a lack of foresight on my part) my fiat will probably miss the party
stupid slow ass legacy banking system
)
949.
Post 10029325 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
A little perspective from looking back at the crashes of the past.
At least this time we don't have one single point of failure like when gox halted trading in the crash from 266 to what? 70?
At least this time trades are getting filled and people are getting what they want. You want to sell? Sure! Plenty of liquidity at these prices. You want to buy? No problem! A veritable flood of sellers.
I wonder if these high volume events are just an indication of price discovery at work. We may need to get used to sub 300 because there seems to be plenty of liquidity on either side of this price.
285 to 275 sideways range for next couple weeks would suit me just fine.
950.
Post 10029638 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Looks like it has leveled out for now but if you look at the 1w charts its obvious Bitcoin is going to continue its downward spiral below $272.
Bitcoin value has come back to roost folks...get used to it.
If your not all fiat right now you will miss the reset when it hits single digits before starting the next bubble.
Personally, I would be more afraid to be all fiat at this point. I have a position in this market and I will not be shaken out by panic moves.
It reminds me of something I once read, I think it went something like this:
"My dear boy," said old Partridge, in great distress "my dear boy, if I sold that stock now I'd lose my position; and then where would I be?"
My point is this, we are all just playing a game, trying to get more of what the other players have. You can play for fiat, or you can play for keeps.
The choice is yours.
951.
Post 10029696 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
@ Steven Irving
The link to the explanation is broken. Chart buddy shows a 3D view of market depth at bitstamp over the past hour. It's just a series of lines drawn minute by minute showing the order book changing over time.
952.
Post 10029789 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
You can play for fiat, or you can play for keeps.
The choice is yours.
What you never heard of stops? Terrible trading advice whoever told you that
Right, I guess that Jesse Livermore is just some idiot who had never traded before
Btw, here's some first hand experience of how well stops work in bitcoin land where the exchange operators know exactly where your stops are placed.
Stop losses? LOL!
I deposit fiat to the exchange. I withdraw bitcoins to cold storage. Then I wait.
I tried using stop losses. Once I put one on really low and the price briefly spiked down to half a cent below my stop loss, then shot straight back up to the moon again.
953.
Post 10029825 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
... You can play for fiat, or you can play for keeps.
The choice is yours.
Sage & inspiring words of a true
BTCeanie
BTCeliever.
Not laughing right now, honest.
Thanks for clipping that part and bringing to light how incredibly cheesy it sounded.
Oh well, I guess I'm just a beanie baby dreamer,
954.
Post 10029939 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Edited
You can start a new position. Only noobs hold their losses too long. Then they get deep in the red they get afraid to take a loss and hope the price comes back up. That's how bag holders are born.
Trust me I've done this like first 2 years when I first started trading. Never fall in love with your trades. Better to stop out out and take a small jab to the chin than hold on til your trade blows up
If you're trading on margin, then yes, I'd agree.
If you're holding on to a position in the most volatile asset class the world has ever seen for the last 4 years, and seen the market go from 2 dollars to 1200 and back again now to 300, maybe you'd have a different perspective?I wanted to edit this and apologize for being combative.
I think the point I was trying to make is that sometimes in a fast moving, volatile market, many times the price will run on you and you won't easily be able to open a new position.
Of course this can work both ways and you can indeed be left holding the bag.
I was simply trying to point out that there is a chance that it is the fiat bag holders that might lose out on this deal.
955.
Post 10030068 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Only noobs hold their losses too long.
If you're trading on margin, then yes, I'd agree.
If you're holding on to a position in the most volatile asset class the world has ever seen for the last 4 years, and seen the market go from 2 dollars to 1200 and back again now to 300, maybe you'd have a different perspective?
Depends when you started the position. I would not hold a long position that is making new lows. That is suicide.
If you day trade naked options you get 100-400% moves like everyday. Tough as nails to trade unless you are super discipline w cutting losses and riding winners. That and position sizing and risk management. That's the tough thing though. People are more psychologically prone to cut winners and ride losses. It takes a lot of experience to do the opposite
These naked options sound... exotic.
Where can you trade these naked options on bitcoin?
956.
Post 10030178 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
the bottom is in
Nothing is certain
957.
Post 10030234 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
the bottom is in
I think you meant to say: the bottom is clenched
Virtex has 20 coins available at the equivalent of less that 260 USD each right now.
There is some serious selling pressure going on and it smells awfully fishy to me.
958.
Post 10030455 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
the bottom is in
I think you meant to say: the bottom is clenched
Virtex has 20 coins available at the equivalent of less that 260 USD each right now.
There is some serious selling pressure going on and it smells awfully fishy to me.
I wasn't gonna say anything...but is it possible that's where the dump started?
You know, before today I would have said that's impossible, but now that you mention it..
Nah, still just peanuts for volume on this tiny exchange, not enough to move anything...
Unless they're insolvent? It's the new Canadian GOX?
Dammit! Where'd I put my tinfoil hat?
959.
Post 10030604 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
the bottom is in
I think you meant to say: the bottom is clenched
Virtex has 20 coins available at the equivalent of less that 260 USD each right now.
There is some serious selling pressure going on and it smells awfully fishy to me.
I wasn't gonna say anything...but is it possible that's where the dump started?
You know, before today I would have said that's impossible, but now that you mention it..
Nah, still just peanuts for volume on this tiny exchange, not enough to move anything...
Unless they're insolvent? It's the new Canadian GOX?
Dammit! Where'd I put my tinfoil hat?
I can't figure out how the VoS price stays consistantly 30 bucks above Virtex. Any ideas?
I can't know for sure, but I'd guess that virtex has deals with miners? Or maybe just old school peeps with heavy bags?
I do know that they cater to a higher net worth crowd and they have said that they can offer liquidity for large deals for large customers... but I figured that was mostly just posturing and PR..
But now you got me thinking.
960.
Post 10030664 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
the bottom is in
I think you meant to say: the bottom is clenched
Virtex has 20 coins available at the equivalent of less that 260 USD each right now.
There is some serious selling pressure going on and it smells awfully fishy to me.
Virtex: Put up a sell, wait 5 days for the buyer to deposit fiat, complete transaction
I think the party will be over before last week's deposits show up. Last one was 9 days
(through holidays)
Where is the arbitrage between there and VoS? What am I missing? (Not a trader)
As explorer pointed out, it can take an excruciatingly long time to move money back and forth, 5 business days is normal.
Virtex does offer instant funding from your debit card, but only up to 1000 dollars per day, and with a 25 dollar flat fee per transaction...
Sometimes, especially when the price is moving fast, it's totally worth it though.
961.
Post 10030696 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
fuck i think i will regret it big to sell all my btc at $278
Don't worry, you will still be able to buy half of it back when it hits $556.
I don't want to sound callous, just in case kenji is being sincere, but out of curiosity I just looked up "weak hands" in the dictionary and found this:
Weak Hands
DEFINITION OF 'WEAK HANDS'
1. The intention of futures contract holders not to receive delivery of the underlying.
2. Retail traders in the forex market who abide by the conventional wisdom that when a pattern is broken, get out.
3. Kenji.
962.
Post 10031031 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
I've often said that I want the price as low as possible for as long as possible, but I'm starting to feel like this is low enough.
The sentiment that I get from potential adopters is that they are frustrated that they didn't get in early, and thus they have a negative feeling towards bitcoin and they just want to see it fail.
I'm hoping that this 285-275 level will hold steady for a couple weeks and then a gradual creep up. Back to 350 by Feb, maybe 400 by April?
I guess it doesn't really matter where the floor is, as long as we determine some kind of floor, some bottom price to give new participants some kind of relative confidence that there is at least some kind of support and if they decide this is not for them, at least they should have the feeling that if they balk and want to get out, that there is enough liquidity available for then to cut their loose without getting completely raped.
Current range is good enough for me, and I hope, good enough for any potential new clients.
IMO It's a nice entry point and at least at this level I would feel confident in recommending bitcoin to people after first explaining that there is still the downside risk, but the upside might be so much higher...
Only time will tell, best of luck wall observers, and good night.
963.
Post 10034338 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Hory shet, I may be able to buy back all my stolen BTC soon
A silver lining behind every cloud
Btw, what a glorious way to wake up, bitcoin alarms going off in rapid succession...
964.
Post 10034720 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
I started buying at 263. Bearwhale is about to get slaughtered.
Excuse me, tht should read Bearwhale2.
More like bear whale 2000 - like thousands of little bear mice nibbling away
Much harder to fight
We need to find a pied piper
965.
Post 10034747 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
It's amazing. I ain't even mad
I probably have another 3 or 4 days before my deposit clears, I fully expect the price to rebound by then, if only temporarily
966.
Post 10034869 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
It's amazing. I ain't even mad
I probably have another 3 or 4 days before my deposit clears, I fully expect the price to rebound by then, if only temporarily
I'm a disillusioned permabull. Can't help myself at this price. I'm going in. (Dat BTM premium tho
)
Heh, funny part is I wasn't even planning to buy, I just wanted to re-fill my lower tranche.. Just in case the price tanked.
Oh well, a day late and a dollar short, as usual.
967.
Post 10034927 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Traps everywhere,
It's a freakin' mine field out there
968.
Post 10035098 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
Next minutes are critical, Huobi is testing very short term support. If it bounces, then this was a short term bottom.
How short is the term? Daily? Weekly?
Is this just another dead cat bounce?
I'm trying to discover a price floor here, but it just feels like I'm floating.
969.
Post 10035182 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
why are more miners coming on line lol.. im so confabulated? auto corrected from confuzzled.
Because lag between ordering your gear & having it up & running. With 2 consecutive drops in a row, the Bitcoin Braintrust assumed difficulty has stabilized & ordered their money printing machines
The lag in the price-difficulty feedback loop is substantial.
If price does not rise within the next month, there is significant incentive for miners to seek another alternative.
I ain't even laughing either
970.
Post 10035682 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
I love it how they say that PoW is centralized so it keeps the price down, then they say when the price goes down they turn off their miners. Seems legit.
I don't know why, but this made me laugh.
Btw, it's like minus 40 where I'm at right now, my miners are going full blast!
971.
Post 10035877 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
does anyone else experience this 'gray rectangle' problem?
it occurs only in this thread as far as I can tell.
looks like some chrome bug in relation to images.
I used to get that on chrome on my phone, but it went away somehow? I don't even think I updated or anything
972.
Post 10035924 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
does anyone else experience this 'gray rectangle' problem?
it occurs only in this thread as far as I can tell.
looks like some chrome bug in relation to images.
Only on my android device (chrome) particularly with moving gifs
@ Chrome for Android?
Yeah, for me at least it was
Try cleaning out your downloads folder or something, I think it's maybe a cache issue?
973.
Post 10035996 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
All cultist bulltards should be tremendously happy about this (predicted) price drop. It just means they got more cheap coins from all those weak hands. The cultists only care about hoarding as many bitcoins as possible, right? The BTC price measured in fiat is totally irrelevant, right?
I can't speak for the rest of the bulltards, but I for one am tickled pink!
If you bears out there could dump this down to 250 by the middle of next week, that'd be great!
Thanks
974.
Post 10036533 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
does anyone else experience this 'gray rectangle' problem?
it occurs only in this thread as far as I can tell.
looks like some chrome bug in relation to images.
I have a similar problem but the grey part is at the bottom instead of to the right. I use Fedora on Linux, but the problem only occurs in this forum.
The bug appared when the forum started using an image service (imgur) to store and "sanitize" images. It may have to do with the size of the file and the speed of the internet connection to the source where the image is uploaded from; basically there is an insufficient timeout somewhere along that path, and the file gets truncated. Reducing the image size usually helps. Try saving as JPEG format with quality 80 or less; it may get a bit fuzzy, but then you can wrap it in a link to the full version.
It is rumoured than, when the bitcoin price will reach 10'000 USD, the admins will be able to afford to hire a teenage programmer to fix this bug (and re-enable the uploading of avatars).
IT'S A LINUX BUG, mr Stolfi
Linux bug planted by the NSA
Lol, when it started for me that was exactly my first thought. "Oh noes, they're watching me!"
Then I realized that they've always been watching, and will always be watching, so I just changed a bunch of stuff, and now that issue is gone.
Not sure what fixed it, but haven't had that issue for at least the past few months now.
Best guess is some kind of caching issue or buffer getting filled, or whatever. I don't think it's necessarily server side as it doesn't happen with Firefox, as far as I know...
975.
Post 10036573 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
EDIT: Hmmm, now I'm having doubts, perhaps it's only a Chrome bug and I just didn't experience it anymore because I ignored NotLambchop.
Either way there's an easy fix.
LOL!
This will now be known as "The Brony Bug"
976.
Post 10036614 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
it is always the same. i am so deeply sucked into bitcoin (very delusional perma bull i guess) that whenever we go over a cliff like today i think: "thaaaat´s it, finally. i will get out. i cannot take this anymore." of course i can´t sell right into the panic, so i promise myself i will sell them all once it has bounced back to a level that once looked so boring (but now looks so shiny). but when it climbs back up, i keep forgetting my despair and then - of course i never never sell once it has reached more comfortable levels. i know this and i still cannot escape. hope seems to be stronger than fear. it feels fucking bad to lose money. but in my case it seems to feel 10 times worse to lose btc.
i will end up with lots of worthless btc i guess.
LOL (more of a chuckle actually)
So when do we start planning the "bitcoin hits 10,000 party?"
(Serious question)
977.
Post 10036706 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
So you perma-bulls are saying that since BTC price crashed but recovered in the past when it was worth nothing and a lot less new fiat coming in was necessary to pump the price that means every crash today is just a bear trap?
Even after one year of bear market (never happened before) even after seeing prices reaching a low that was not seen since 2013 even after having broke the previous bubble high (never happened before) even after having broke a multi-year support trend line (never happened before)?
So even if we reach half a dollar nobody needs to worry because the moon is around the corner? Nice mental trap you have set in for yourselves.
Price is still higher than when I started, not really worried if all my imaginary fortune goes poof.
978.
Post 10036798 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
I have a very active imagination. Perhaps that's why I got into this in the first place
I can imagine a world where people are free from oppressive capital controls and where truly free markets can exist.
Maybe it's all a fantasy, but I prefer that fantasy over the increasing centralization of power and control that is happening all around us.
979.
Post 10036895 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.43h):
...
I have a very active imagination. Perhaps that's why I got into this in the first place
I can imagine a world where people are free from oppressive capital controls and where truly free markets can exist.
Maybe it's all a fantasy, but I prefer that fantasy over the increasing centralization of power and control that is happening all around us.
Thanks NLC, escapism is exactly what I'm looking for. An escape from corrupt government controlled by the central banking cartel.
And now, I think I'll escape this thread for a while. See you at 250
980.
Post 10040487 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
Will Monday be bullish ?
My
8-ball says this:
For some reason my phone renders that green triangle slower than everything else so it looks really cool when I scroll. Pretty sweet effects, thanks
/off-topic
981.
Post 10041087 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
Wow. Finally some action. Covered some of my short already.
I feel bad for anyone that is holding long positions.
LOL, dude, are you a day behind or something?
982.
Post 10041184 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
soon
Love that picture.
I'd like to frame that and put it up on the wall.
983.
Post 10041769 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
i hope this is not GOX v2.0 because if it is then bitcorn will go 2 digit way
LOL!
At least it's been an exciting weekend!
984.
Post 10041809 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
I think we need a new poll:
Which exchange should chart buddy display once bitstamp shuts down?
985.
Post 10064042 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
I don't think bitstamp is trying to buy any coins
It seems like it'd be cheaper to just buy them back from the thief lol, it wouldn't make sense for them to purchase them with a markup.
Also, we have all seen the Pastebin by now with the wallet containing the stolen BTC, where every transaction says Bitstamp Hack, however I have not seen it in any news articles on the hack. Am I overlooking it, or are the reporters?
Bter brought coins back from the hacker that robbed it.
I have no problem with that. Consider it a "security assessment fee"
Unless it was an inside job, of course.
986.
Post 10064109 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
I don't think bitstamp is trying to buy any coins
It seems like it'd be cheaper to just buy them back from the thief lol, it wouldn't make sense for them to purchase them with a markup.
Also, we have all seen the Pastebin by now with the wallet containing the stolen BTC, where every transaction says Bitstamp Hack, however I have not seen it in any news articles on the hack. Am I overlooking it, or are the reporters?
Bter brought coins back from the hacker that robbed it.
I have no problem with that. Consider it a "security assessment fee"
Unless it was an inside job, of course.
We're losing another exchange in February. VoS is shuttering its crypto doors
Yeah, I know, it was nice to have at least some kind of alternative/competition for virtex, but the volume and liquidity at vos was pretty pathetic... At least they weren't hacked.
I wish them all the best on their new endeavors. And I hope virtex doesn't use this as an excuse to raise their already high fees.
987.
Post 10064313 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
Have to say I'm surprised I didn't have to tweak the scaling factor between Stamp and Finex. Quite similar market depths there.
I'm impressed by how stable the finex feed is, no more missing data segments, yet.
I wonder if those problems with the stamp feed were some kind of signal or precursor?
988.
Post 10064425 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
Have to say I'm surprised I didn't have to tweak the scaling factor between Stamp and Finex. Quite similar market depths there.
I'm impressed by how stable the finex feed is, no more missing data segments, yet.
I wonder if those problems with the stamp feed were some kind of signal or precursor?
You guys are daytrading again, aren't you
LOL!
Yup! Been "day trading" ever since 450 CAD
Every pay
day I
trade as much fiat for bitcoin as I can afford to.
amidoingitright?
989.
Post 10064712 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
Have to say I'm surprised I didn't have to tweak the scaling factor between Stamp and Finex. Quite similar market depths there.
I'm impressed by how stable the finex feed is, no more missing data segments, yet.
I wonder if those problems with the stamp feed were some kind of signal or precursor?
Stamp was actually providing data but it was old, out-of-date data and typically the same old, out-of-date data each time. My interpretation is that they had load balancing caches of some kind and one of them was not updating correctly.
I'm not sure what that said about the state of Stamp but given that people use those feeds to trade and it didn't seem to be that high a priority to get it fixed, I have to think it didn't say anything good. I suspect the rapid price rise over the past two years has put some people a little out of their depth rather quickly.
Thank you for the insight.
990.
Post 10067766 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.44h):
stmphax coins moving
Doesn't matter where they go. Unless it is back to stamp in a deal they aren't being spent on an exchange for a looooong time.
I'm not so sure. Just move the coins around a bit, wait for more peer to peer exchanges to pop up, then slowly unload.
Traditional law enforcement is simply not incentivized to put a large amount of resources into tracking down these kind of criminals. I mean, it's not like they stole from an organization that has lobbyists in Washington or anything.
991.
Post 10099264 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.45h):
Bitstamp still smells fishy to me.
Best of luck gentlemen.
992.
Post 10102577 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.45h):
Watching the bitcoin price tickers for all of the exchanges is damn stressful.
I am sitting on so many coins that all I am doing now is watching the price all day.
It is not like I don't already know what to expect.
Still, it never gets easier.
up down up down down down down down up up up up down down down down down up down up down.
My eyes and brain hurt.
I need a bitcoin break, but I cannot afford to look away from the screen.
I know that my advice might not be appreciated, but I think you need to reconsider your position.
If you are feeling stressed, then it's likely that you are over-invested in this little experiment we are participating in.
If you have more money "invested" in bitcoin than you could comfortably afford to lose, then you're doing it wrong.
Just my opinion.
993.
Post 10102663 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.45h):
Im afraid the end is near...
End of the bear market?
I'm sensing the same thing.
994.
Post 10102682 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.45h):
You do realize these are just strawman accounts set up by trolls to present a ridiculous situation for other trolls (themselves most likely) to attack?
I wouldn't bother...
Apologies, I thought Steven was a real person.
My bad.
*edit* am I the only one that finds the excessive bear trolling to be bullish?
My traps are set from 300 down to 250 (CAD)
You bears are welcome to unload your beanie babies at my prices.
995.
Post 10108002 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
<snip>
Id bet my life on it.
I'd advise against that. In fact, I already did.
I know that my advice might not be appreciated, but I think you need to reconsider your position.
If you are feeling stressed, then it's likely that you are over-invested in this little experiment we are participating in.
If you have more money "invested" in bitcoin than you could comfortably afford to lose, then you're doing it wrong.
Just my opinion.
If you need the money, just sell now. There's no point in holding liquid assets if you're not going to use them when you need to. There's also no point in waiting for something that may not happen for a very long time, if ever.
996.
Post 10109705 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Avatar ban = digital scarcity,
just like bitcoin
997.
Post 10114045 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
998.
Post 10121943 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
There's no issue. Miners can't keep up with transactions and get backed up at times because the block size is too small. Miners just don't want to spend more to upgrade a little. It's all on the miners.
I thought it was the clients, or full nodes that are actually running the show here.
The miners will support whatever chain they are incentivized to support.
I still feel that this is an incomplete solution to the Byzantine Generals problem, relying heavily on properly aligning incentives to promote or ensure consensus.
If the incentives start to diverge, the security and long term success of the project will be compromised.
tl;dr - Price
does matter.
999.
Post 10125450 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
In the morning wall observers.
Dangerous times to be a free thinker.
http://qntra.net/2015/01/use-riseup-net-and-read-books-thats-a-paddlin/"The defendants were also accused of having a book..."
Careful what you read slaves. Thought crimes will be punished.
1000.
Post 10125921 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Serious question to the permabulls: Who initiated you into Bitcoin?
His name is Satoshi. You should read his teachings.
https://bitcoin.org/bitcoin.pdf
1001.
Post 10126488 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Thank you for the links. I had not seen that Szabo.best.vwh.net collection before. Looks interesting.
1002.
Post 10129685 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
@Sitarow - excellent resource you've built.
Much appreciated.
1003.
Post 10130599 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
People arent sure if the price is cheap or expensive at this point, so undecisive.........
In the last year i spoke with at least 10 people about bitcoin. Told them everything about it. I even insisted on its advantages. Never got the balls to tell them about a 51% attack or how easy is to get fucked by a hacker, hardware or by your own errors. Do you know how many of them came back to speak (not buy) about bitcoin ?
Huh ? Yes, 0.
It's easy to get fooled by these geeky bulltards in here that are cheering continuously on every $5 increases and posting MOON pictures and trend reversals. If you want to know about the success of bitcoin and if it deserves a $270 valuation, go into the real world and ask people if they give a shit about it.
We are living in a super connected environment where a video of a dog fucking a chicken gets 10 million views in 2 days on youtube/ facebook, so you have to think that if bitcoin, a 6 year old cryptocurrency that facilitates fast -0 fee- transactions didn't get viral (at least on the internet), then something is wrong with it.
Till you get to teach the entire earth about security, we will be all laying in our coffins. People are not open to change like we do. They don't care like we do. They don't have to give a shit about the mechanics of bitcoin like we do. They just want a way to transfer money without having to learn too much useless garbage... and they want it with almost 0 risks.
Fonzie - "But there is Trezor"
- But fuck you! Peter Todd advised me against it and on top of that i wouldn't want to buy that junk and look like a jackass from the 80'.
To make it short, based on usability, Bitcoin doesn't deserve more than a 2 digits price.
You're funny when you're mad.
1004.
Post 10130628 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
So there was a block that took 2 hours today?
wtf
Higher difficulty, higher variance?
1005.
Post 10130861 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
ahh i see...man id be pissed waiting on a transaction during that time
This is why I wish there would be less effort wasted trying to turn bitcoin into a payment or micro-payment platform.
It would perform much better as a global clearing mechanism, the future reserve currency, similar to the function that SDRs play between central banks.
<puts on flame retardant suit>
1006.
Post 10130920 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
based on usability, Bitcoin doesn't deserve more than a 2 digits price at this moment.
I think I posted that math already: if there was no speculation (short or long term), just use as a currency, with todays usage volume, the price would quite probably be less than 25$, possibly as low as 3$.
Just curious, not combative.
What would the price be if bitcoin were used as the agent for clearing international trade?
1007.
Post 10130988 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
What would the price be if bitcoin were used as the agent for clearing international trade?
Several thousand SDRs?
Now the question becomes "what the hell is a SDR worth?"
nm, found it
http://www.imf.org/external/np/fin/data/rms_sdrv.aspx Apparently bitcoin already worth several hundred SDR's, maybe this is all a bunch of funny money after all
1008.
Post 10131170 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Yeah, that guy is sketchy as hell. Ever seen one of his bitcoin seminars? Reminds me of a pyramid scheme talk, or church sermon...
Ask yourself, who in their right mind would embrace the moniker "bitcoin Jesus" ?
*edit* remember that video he put out saying that mtgox was safe? Just months before it collapsed?
1009.
Post 10131376 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
I guess he's invested in the network thing but not the currency itself
I admire the fact that Mr. Ver, the Bitcoin Jesus, is an ex-con. Because you know who else they said was a criminal? The Christ Jesus!!
That Jesus guy pretended to be dead for like three days or something I heard, and then apparently he came back from the dead and started looking for eggs that came from bunnies.
All this shit is messed up
1010.
Post 10131388 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
So, one of the biggest mining pool stopped mining.
This is actually good news™?
They didn't stop mining, they just stopped giving the coins out to the paying customers.
Price matters.
1011.
Post 10131465 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
^
They prob'ly also stopped paying *you* for the sig
No. They are continuing with the sig campaign
They can do it without me
Edit: I hate when scammers turn me into a moralfag:/
Just for the record, what company was it?
1012.
Post 10131550 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Thanks. Also, pretty nice little dump on finex just now.
Cheap coins incoming?
1013.
Post 10131575 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
...Also, pretty nice little dump on finex just now.
...
Stamp's not doing too shabby either.
Virtex too! My 303 bid got almost totally eaten! WOOT!!
1014.
Post 10131655 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Everyone busy gobbling up these cheap coins?
Yup!
How about you shroomsy? You cleaning up as well?
1015.
Post 10131818 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Bam, and a new low on Houbi and OKCoin.
Nice! Perhaps those silly Canadians will follow suit and take my bid at 290 as well?
1016.
Post 10131832 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Bam, and a new low on Houbi and OKCoin.
Anyone brave enough to fill their boots right now?
All over it, just hope my "boots" get filled.
1017.
Post 10131960 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
[...] as always never, ever spend more that you are willing to lose completely.
Words of wisdom.
I'm probably a little too excited to be picking up coins at these prices, but I fully understand the risk involved.
It's quite possible that there is no bottom and I'm just throwing money away right now.
It's also possible that this is all just a dream and I'll wake up tomorrow and happily go slave away at work tomorrow like always.
Such is life.
1018.
Post 10132073 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Come on lamb chop, this is some historic shit happening right now!
Can't you come up with something new?
1019.
Post 10132166 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
Come on lamb chop, this is some historic shit happening right now!
Can't you come up with something new?
If it ain't broke, why fix it?
Touché
1020.
Post 10132981 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.46h):
What would the price be if bitcoin were used as the agent for clearing international trade?
I don't know how much space there is for bitcoin in that field. In large trades the two parties know each other and are backed by their respective countries, so they can rely on mutual trust (if one party defaults, that country's trade suffers) or trust in a third party (UN, WTC, International Court, US Navy, etc.). Also, much of that trade seems to be done on credit anyway. And volatility is going to be a big problem: one can forgive a 5% loss in a 20$ purchase, not so much in a 2 billion $ purchase.
We would have to wait for some examples of such use, before we can guess its potential growth. China importing 10 million frozen pizzas from Italy perhaps?
Mmmmmmmm, pizza........
1021.
Post 10139671 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.47h):
In the mourning wall observers!
Now that a pack of smokes costs more than 0.05 btc I finally have the incentive to quit!
A silver lining behind every cloud, I guess.
1022.
Post 10170442 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.50h):
...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...
Who is the lucky guy all this debt is owed to? [...]
It's owed to banks.
These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative. *well put, best thing I've read on here for days.
1023.
Post 10170666 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.50h):
1024.
Post 10170940 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.50h):
Both sides agreed to make the sale because the price was plummeting, all the ruling will determine is who gets the profit from that sale.
Interesting, let's assume that the coins sold for an average of 300 bucks each, so 15 million dollars...
Do you think 15 million dollar market buy today would get you more than 50,000 bitcoins? Or less?
1025.
Post 10182713 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.50h):
Ok, I don't have time to catch up or stay current with the thread right now, but the following quote made me think.
Bitcoin tutorial for buying stuff :
Instead of buying things directly and easily with your fiat which is way too simple and convenient, be original, use it to buy bitcoins (if you manage to find a way to do it) and then pray for it not losing 20% of its value during the time you'll make your purchase.
Done. See easy.
Bitcoin business :
Bitcoin is the ideal currency for opening a safe business. It's proclaming itself as a currency but it's way much more, guess what, it's behaving like a friggin asset, you'll love the volatility ! Secure your business and accept bitcoin now !
Be part of a new world of freedom, be part of the ponzi !
Society is crumbling.
Do not try to fix it. It is broken beyond repair.
Trying to achieve "Mass Adoption" is a waste of time and is counter productive.
It's time to move on and simply leave the rest behind.
1026.
Post 10191203 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.50h):
Bitcoin is dead, again.
https://www.cryptocoinsnews.com/bitcoin-dead-dumb/"As low as possible for as long as possible."
Carry on, slaves.
1027.
Post 10226657 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.51h):
... Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.
Based on your triangles closing, I would assume another day (or so) at current levels, followed by large dumps to 170$+ levels. Am I terribly wrong / bear-ish ?
What I see there, is that the volume increases as the price drops.
Could be an indication that a bottom is being discovered.
Also, volume dropping on price rise leads me to think that many are relatively happy with their current holdings and only looking to accumulate on the dips.
Until there is an influx of new participants that do not already have positions in this market, I do not think price will rise dramatically. If this influx of new blood does indeed happen, I would expect that the long term holders that have been suffering this market will not be willing to give up their coins cheaply.
Personally I think we could see sideways/downward movement for many months to come.
It would be the preferable situation for anyone looking to accumulate more coins.
"As low as possible for as long as possible"
1028.
Post 10243944 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
FDIC "protection" is a joke.
http://www.barnhardt.biz/2015/01/09/how-could-trillions-of-dollars-be-laundered-from-the-wash-dc-regime-to-saudi-arabia-why-through-citigroup-of-course/Even worse, the bank – the derivatives holdings of which are now “guaranteed” by the FDIC, which is to say the US TAXPAYERS, thanks to the Cromnibus bill – is where the exposure is being added – $9 TRILLION was added to the Citibank portfolio within the third quarter of 2014 alone – the latest available data.
1029.
Post 10246624 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
...
Jealousy.
*ErghhhCOUGH!*
Excuse me, gentlemen. Good morning
Good morning sir!
Always encouraging to see you post new content.
A very astute visual depiction of your (the old man) effect on this thread (the young child)
I take this to indicate that cheaper coins are imminent, correct?
1030.
Post 10247686 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
This forum is indeed very pathetic. I assume not many of you here are seasoned traders. This is purely an amateur hour, I left this shyte coin in the dust months ago and went back to equities and forex. This instrument will continue in a downtrend, this behavior is all too familiar. Getting coins at sub 200 was a nice move yes... whoever locked it in god job. At this point I would suggest only profiting from temporary volatility be it in upward or downward momentum. It will never reach its previous point of 800+...As of now it seems to be still moving in a strong downward momentum. It might break out to lets see 260 level then possibly 280 before another drop. People who bought their coins at 400 or 600.. and were 'hodling'. Well, I suggest you get better jobs my friends.
Bye bye, and good riddance
CCMF
(choo choo my friends )
1031.
Post 10247815 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Guys why are you shouting MOON when we have moved few dollars up?
i am missing the days when MOON and CCMF actually meant something
I get the distinct impression that those days are over.
The proliferation of financial instruments that allow for hedging and short positions have come a long way since the days of ZhouTong.
I
expect hope for a brutally incessant march upwards with many retracements and opportunities along the way.
Pack your bags gentlemen!
1032.
Post 10247874 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Guys why are you shouting MOON when we have moved few dollars up?
i am missing the days when MOON and CCMF actually meant something
I get the distinct impression that those days are over.
The proliferation of financial instruments that allow for hedging and short positions have come a long way since the days of ZhouTong.
I
expect hope for a brutally incessant march upwards with many retracements and opportunities along the way.
Pack your bags gentlemen!
There are less than 3 million dollars in btc for sale stopping the price from doubling on the ask side on finex..
I don't trust any of the reported numbers, we've all seen way to many fake walls and other shenanigans to believe any of that crap.
If the price rises, people will start to loan out their coins at increasingly exorbitant rates until the short side takes us back a step...
At least that's my hope.
*edit* stupid huobi right now crushing my hopes.
1033.
Post 10247940 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
244 actually looks like a nice spot to short.
Come on traders! Save us from ourselves!
1034.
Post 10248169 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Is it time to buy yet? Dont want to miss the time when it will be confirmed to go up from there forever.
Only dinosaur TA can determine the true bottom.
We need more dinosaurs!
*I'm imagining right now a big ass Brontosaurus who had his neck down taking a sip from the lake now raising his head to take a look around*
1035.
Post 10248370 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
This market it really easy to trade because there're so many emotional noobs trading it. And yes I was one of the noobs here back even before the China pump in December 2013. But I have learned a lot since then about markets.
The fact that you guys are even comparing BTC to other markets shows your lack of understanding. No one has a clue which way the price will go, and that includes the people saying down.
Indeed no one has a clue, but it would help to admit that
China still sets the price.
The Nov/2013 rally (and perhaps also the Apr/2013 one) were created by Chinese demand, and the Chinese exchanges have set the price since then. Although many of Chinese who bought coins at that time appear to have sold them, Chinese day-traders are still in control.
Since the big rally, the price has reacted almost exclusively to events that are relevant to the Chinese traders, and has completely ignored events that are relevant only to the West -- such as Dell and Microsoft "accepting bitcoin", Bitstamp being hacked, the USMS auction, Bill Gates saying that bitcoin will not succeed, and the the 70 trillion dollars that banks just invested in Coinbase.
Now, one would expect the Bitcoin media to start from that fact, and get some staff or correspondents in China to report on the state of the Chinese market so that Western traders can use that as a basis for their predictions.
But they will never do that, obviously. Bitcoin sites do not get a penny from investors or day traders, so they don't care about their fortunes at all. Their revenue comes entirely from advertising and subsidies from bitcoin enterprises, so they must suppress any news that could hurt them.
And those enterprises would hate if their prospective clients were aware about the role of China. "If you invest in our fund, rest assured that the future of your money will rest entirely on the mood of ten thousand amateur commodity traders in China, who prefer bitcoin to garlic because its price is much more volatile." "Our ETF shares are expected to yield 1000% ROI in a couple of years, as soon as we find a new market for bitcoin that is 10x the size of China's". "We are quite certain than the price of bitcoin will not drop to double digits tomorrow, because we cannot believe that the PBoC would be so mean as to further tighten the restrictions on Chinese exchanges."
So, all news and articles in the bitcoin media start from the premise that "China is irrelevant", and are careful to cultivate that misconception in the readers. Just as they will try to hide (or not even look for) the unpleasant facts about user adoption, security, miner influence, and more. Instead, they will fill the space with useless technical analysis, bogus theories like "Willy was responsible for the 2013 bubble", interviews of bitcoiners about its wonderful future, and thinly disguised addvertisements and press releases.
Hi amigo, I know we sometimes butt heads, but I don't get the feeling that you are being intentionally ignorant, just that you are trying to deal with something you don't quite understand, yet.
Please take a listen to this
http://podcast.runtogold.com/podcast/BTCK-127-2015-01-20.mp3It's an interview with a guy trying to set up a south American exchange that is beneficial to south Americans.
You are the only guy I pseudo-know that it's from that area and your analysis of this would be greatly appreciated.
Specifically the parts about bitcoin transfers allowing the local currencies to stay local, while still allowing people to transfer funds across borders.
I know I've been facetious towards you in the past, and I apologize for that. Also any thoughts from any other south Americans is welcome.
Thank you.
1036.
Post 10248635 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
guess i'm a bit home sick today....... we even have beautiful cattle in Scotland
Some crazy shaggy cows you got there! Seems strange, I'm from northern Canada, which I thought would be colder, yet our cattle are all short hair.
Sample
Not all cows around here are black Angus, but I've never seen such shaggy cows over here
1037.
Post 10248669 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
it's always cawld damp and dreich this time of year, but then you get the beautiful snow
Until you've lived some years above the 60'th parallel, you don't even know about "cawld"
1038.
Post 10248854 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
it's always cawld damp and dreich this time of year, but then you get the beautiful snow
Until you've lived some years above the 60'th parallel, you don't even know about "cawld"
If your Canadian, do you say aboot like we Scots sometimes do?
Some Canadians do for sure, mostly the ones in nova Scotia...
P.S. north of 60 is not the same as living next to the ocean, and then one day it got cold, and then everything was covered in ice.
This is what 6 months of below 0 degrees Celsius looks like... (though it's actually quite nice from June through August, except for the mosquitoes)
1039.
Post 10248986 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Actually the CHINEESE were not the only sole cause of the price jump. The Silkroad was BOOMING at that time. Another "silkroad" 3.0 is coming soon and it will drive the price up again just watch.
SilkRoad was busted in early Oct/2013. Some (not me) claim that the bust actually helped the price, because it dispelled the perception of "currency of drug users and criminals".
But SilkRoad may have been responsible for the famous Mar/2011 bubble. I gather that SR started operating on Jan/2011, so the timing seems compatible.
If that was the case, it would be useful to understand why that bubble deflated almost completely through the rest of 2011. Understanding that decay could perhaps help us understand the downtrend of 2014, which is often compared to it.
Bitcoin allows things to happen that were not before possible.
I'm still surprised that you, as a person who was involved with the early computer/internet revolution, do not see the value in this.
1040.
Post 10249184 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
That's quite the post, but as I was skimming through it, I did find one thing to comment on,
"So why should the average Joe put up with bitcoin’s volatility and the possibility of having his funds easily stolen (if he has to move his money around, you can’t just keep it in cold storage forever you know) and no consumer protection?
Why?"
You assume that I want mass adoption. I don't.
You assume that I want to cater to the average Joe. I don't.
I am simply looking for a better alternative to the system that has been forced upon me since birth.
I was born, coincidentally, at the exact time that the US decided to completely detach their fiat currency from any connection with anything of real value.
I don't blame anyone for not teaching me about the way the world works. I blame myself for not learning about it earlier.
Good luck sticking with the "average Joe's" it's ok, the government will take care of everything. I'm sure it will all turn out fine.
1041.
Post 10249342 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
A MACD dinosaur was already spotted on the 19th... you may have already missed the train...
I did indeed miss my chance to be driving the train, back in 2012 when I was selling bitcoin for 5-10 bucks.
I did not, however, sell my seat, and I will continue to ride along through the peaks and valleys as we roll forward, and back, and forward again.
1042.
Post 10249583 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Long time reader, first time poster.
Just bought 10 bitcoins yesterday, good to see it paying off already
ohai therr lampchop!
1043.
Post 10250831 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
[...]
Moreover, if Bitinka is successful, it would be "stealing" remittance service customers from the local banks, by undercutting their fees. Good luck getting bank accounts and the necessary approvals from the local governments...
Thanks for the analysis. It does seem a little like a solution waiting for a problem to anyone who is being well served by the current system. Also, does not seem to work at all for the people who need it most. (Venezuela?)
BTW, they apparently have all banking relations in place and ready to go. It remains to be seen if they will *go* anywhere.
*edit* they even have a trollbox! Sweet!
https://www.bitinka.pe/bitinka/home
1044.
Post 10250895 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Never heard of it.
If it ain't listed on Poloniex, it might as well not exist.
1045.
Post 10251017 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
CaVirtex is above the Oct 5/14 bottom.
The train may be on its way to the moon rocket station.
No worries, my balance is $0.07
Sucks. Was hoping to stay below 300 until payday.
1046.
Post 10251185 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
CaVirtex is above the Oct 5/14 bottom.
The train may be on its way to the moon rocket station.
No worries, my balance is $0.07
Sucks. Was hoping to stay below 300 until payday.
Plus 9 days for the transfer, don't forget.
If I think the price is moving quick, I'll eat the 2.5% and take the instant option. Plus it works on weekends.
1047.
Post 10251336 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
if the IRS wants to seize your assets can they take BTC out of your coinbase account or freeze it?
You better believe it if your other collateral for taxes isn't available or able to be collected. That's the extra price of doing biz with such an easy to access entity. That said, we may be in for a retrace in price for a short time, maybe around the $230 mark w/i a week or so and then another decent move up before a consolidation. Nothing is etched in stone but it's something to keep an eye out for. No bear meanderings here, just sayin.
Agree
I don't have the balls to short it though... fuck that noise!
I have to admit I took a little profit at 312, re-entry target at 270. Maybe a little too optimistic but we shall see.
*edit - CAD no leverage
1048.
Post 10251665 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
The comments following that post are priceless. People's brains are starting to short-circuit from repeating conflicting talking points that they hear in the media. Fascinating actually.
1049.
Post 10252116 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Very nice Richy.
Thank you for providing this service. It is appreciated.
1050.
Post 10252138 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
It's getting a bit late for me to totally understand that but if I recall correctly, not so long ago, there was a bit of a fuss because someone in country A that was not the USA was transferring money to someone in country B that was also not the USA but for some reason, the money ended up being routed through a country that was the USA and they gobbled it up. That might be something they need to watch for.
If Bitinka works as stated, there is no transfer of ordinary currency across borders. Remitting client X in Peru gives soles to Bitinka-Peru, Bitinka-Peru gives soles in Peru to bitcoin seller Y. Eventually Y's bitcoins end up in the address of a bitcoin buyer Z, who gives pesos in Argentina to Bitinka-Argentina, which gives the pesos to the recipient client W in Argentina.
Interesting, though a little confusing or over complicated.
I was thinking it might act more like a central clearing house for various south american currencies. * edit: ok ok, so it's similar to the exchange just holding a balance of each currency in each country and just hoping that there is equal amount of trading on each side so they don't encounter a "run" on their reserves. Sounds quite risky actually unless they can use banking relationships to convert currencies between countries and then you lose any transactional advantage anyways.
***
*actually, since they did mention that they had a physical office in each country, I was kinda hoping I could take a vacation, arrive and get some local currency for bitcoin without having a local bank account, then transfer back into bitcoin when it's time to go home.
1051.
Post 10255450 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
In the morning, wall observers!
I have to admit I took a little profit at 312, re-entry target at 270. Maybe a little too optimistic but we shall see.
*edit - CAD no leverage
Absolutely nothing wrong with taking some profit + it is healthy for the coin.
[...]
Gl and Hf
I tried. I tried to hold out and go with my gut, but I just couldn't do it. My gut literally wouldn't let me.
Woke up from a bad dream a couple hours ago, gut was churning and painful, even sweating a bit. So I canceled all my outstanding bids and re-entered at 305-306 ish. I feel much better now.
Fully expecting a retracement any time now, but I just physically
feel better being in a long position. -easier to sleep at night, less panicky.
1052.
Post 10255540 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
wtf is going on with stamp?
Srs, wtf
Holy Crap! This is just like my bad dream!
In my dream the price started fluctuating wildly, then there was a series of big red candles, except they were going up instead of down. I was looking at this weird/cool 3D representation of the order book and all the asks just started disappearing, just dissolving away... Was quite trippy.
1053.
Post 10255746 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Stamps asks are so thin. Just a few thousand coins and there's no resistance at all.
a huge amount of volume has moved away from stamp so thats understandable.. whats the bid/ask ratio?
48,521.63 BTC
Whole bid volume
6,263.05 BTC
Whole ask volume
In other words you could by every coin on stamp for $1.5 mil
It's kinda like watching the death throes of a mortally wounded animal... a badger perhaps?
1054.
Post 10256430 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Here's my TA for the day.
Expect a significant drop in price. Why/because?
Because I closed all my open bids this morning and went all in and I'm nearly almost sometimes always wrong.
Enjoy this little insider tip from just another guy that doesn't know shit.
1055.
Post 10256978 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
... my dreams to pick up on some more cheap coins though..
Don't give up on them dreams--I'll MAKE 'em come true!
(Starting a Bitcoin Make-a-Wish Foundation--for terminal bulls.)
My dreams last night were freakish. red candles going the wrong way, ask side dissolving like fog.
Like pink elephants on parade.
"Cheap coins" is a completely arbitrary, subjective term, btw; only quantifiable in hindsight.
1056.
Post 10257211 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
I don't get why the market is doing what it's doing, that's why I'm on the sidelines.
Market is undecided, confused. Hints at a reversal of the long term trend... or perhaps a continuation, who knows?
If you are undecided as well, then best to stay out of it.
If, however, you are convinced of the long term viability of the concept of a public record of irreversible transactions, then it's time to get with the program.
Or, if you are not, then maybe you should stop wasting your time with this little open source beta project and consider other options.
1057.
Post 10257330 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
i am extrem curious about the coinbase moon thing
do you guys believe it will be a huge thing?
This "thing" is what 75 million dollars of promotion funding will get you.
Think about it for a second, who else other than a bunch of bitcoin nerds would find all those little embedded Easter eggs?
They are trying to get control of your coins by offering "easy" and "safe".
"Protected by FDIC!" "Just give us all your personal information and let us monitor every transaction you make."
Not exactly the monetary utopia that Satoshi envisioned, I'm afraid.
1058.
Post 10257407 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
...
If, however, you are convinced of the long term viability of the concept of a public record of irreversible transactions, then it's time to get with the program.
Or, if you are not, then maybe you should stop wasting your time with this little open source beta project and consider other options.
What is it that makes you wacky Bitcoiners so belligerent?
Not like I'm sticking stuff in ur GF, I just don't get the market right now & thus not investing
That's cool bro, I don't need an excuse to be belligerent. I'm just trying to say that we are approaching the time to either fish or cut bait.
This market is fucked, it's either moon or nothing.
Best time to enter this market was 4 years ago, second best time is now, or never.
1059.
Post 10257952 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
If we take a step back and look at this objectively, it's all about the incentives.
The incentives for securing the Blockchain will be cut in half (again) sometime in 2016.
The incentives for bitcoin holders is to see the project succeed and to watch the price rise. Perhaps to become a globally accepted currency? But in the end, the incentive is to sell your coins later at some price higher than you bought them for.
The incentives for the incumbent fiat banking system is to squash this puny idea like an annoying gnat.
And the incentives for governments is to gain and hold power and get paid.
The existing system works best for those who currently hold the power.
Imagine for a second that some puny, insignificant group wanted to fork the Blockchain to allow for some arbitrary redistribution of bitcoins? Now imagine what bitcoin means to the ones that currently control the supply of money...
The odds are not in favour of bitcoin in the grand scheme of things. That is why it must succeed.
*this turned out to be a rambling, barely coherent, collection of half-baked thoughts, but I figured I'd post it anyways, so maybe I can look back at it when I sober up.
1060.
Post 10258119 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Why pick fights for no reason?
There is a reason.
Some things, like the financial war against the middle class, are worth fighting for.
My personal fight against you, however, is purely for the lulz.
I'll go to sleep now, I'm far to drunk to respond to any response that any responder might have to my drunken gibberish.
1061.
Post 10258230 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Why pick fights for no reason?
There is a reason.
Some things, like the financial war against the middle class, are worth fighting for.
My personal fight against you, however, is purely for the lulz.
I'll go to sleep now, I'm far to drunk to respond to any response that any responder might have to my drunken gibberish.
If that is how you put thoughts together while drunk, I hate to see you sober lol.
I don't normally post here when I'm sober.
Soberness usually leads to self-censoring, which leads to me keeping my stupid mouth shut.
Unfortunately, it seems I'm too far gone now. Not quite drunk enough to pass out, and far past the point of caring.
1062.
Post 10258357 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
What should we expect in the next 24 hours.
I am on a long position, so I'd expect a precipitous drop any time now.
Seriously, look at that bid side on okcoin compared to just a few hours ago...
Something smells fishy around here.
1063.
Post 10258642 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
It's today up and down party
After slighly waking up... we are headed north for the end of the day.
Not a strong buy, but just a buy rating from me.
Pretty close to just a hold rating.
Futures looking slightly bearish atm @ Okcoin. No biggie
Should have added some sell, strong sell, and "buy clams!!!" While you were at it, sheesh.
*edit - that was rude, I'm sorry, but if you're gonna throw around vague descriptions like "buy" vs "strong buy" then you start to remind me of that dude that yells all the time on T.V.
Also, since I'm calling someone out for making vague predictions, I would be a hypocritical asshole if I didn't place my own bets, so here they are...
Below 245 before the end of the week, and above 300 by the end of February. (And over 400 by may 6)
Yeah,i know, kinda .weak, but still better than "Not a strong buy, but just a buy rating"
Nothing against you personally, bay area coins, but wishy washy shit is not appreciated around these parts.
If
1064.
Post 10258885 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Also, you shouldn't buy clams... you should get your free ones.
Ok, you got me at "free" sorry for all that other crap.
How do I collect these "free" tokens and where can I exchange them for bitcoin?
No detailed description necessary, just a link to instructions is fine.
1065.
Post 10258909 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Thank you for that brother. Light up a fat j for me
Lol, just got back from blazing on the patio, best of luck getting that alt coin going, listing on poloniex would be an easy double I think.
1066.
Post 10259229 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Actually looks quite interesting. I was a big fan of seals with clubs until I lost everything (I suck at poker even worse than I suck at bitcoin speculation
)
1067.
Post 10259437 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Yeah, pretty much same old shit. Using bitcoin for promotional hype.
If anyone was actually serious about securing the bitcoin protocol they would start building cheap stand-alone nodes...
...oh wait,
1068.
Post 10259603 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
“To have an organized exchange that has the backing of thoughtful venture capitalists and investors addresses one of the main problems with bitcoin: its extreme volatility,"
"... an organized exchange ..." it has a ring to it, like organised crime.
Wall st. is the biggest mafioso protection racket on the planet, it is right and fitting they should be embracing a decentralised anarchic technology like bitcoin.
Phase I complete : get them to play on our turf.
Meh, bitcoin is transparent by design. Any bitcoin-to-fiat exchange you must assume to be compromised.
This fight hasn't even yet started.
Fasten your seatbelts gentlemen, it's gonna be a bumpy ride.
1069.
Post 10259685 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
How is this good news? I think most people forgot what bitcoin is all about a long time ago.
Satoshi wouldn't be proud.
For a long time to come people will still need to convert money back and forth.
They deserve the ability to do it without being raped by incompetent children or crooks. I would call that good news.
I'm sorry, but as long as you continue to use their currency, you will continue to be enslaved.
The most important thing to learn about bitcoin, is not about bitcoin at all.
First you must learn how the current system works, and how it works against you.
1070.
Post 10260137 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
can anyone think as to what advantages bitstamp and bitfinex will have if fully insured and regulated exchanges open?
Is it that they will have less regulation so to speak and this itself will be an advantage?
For me, none. On the contrary. I think it's about time for
every exchange to be regulated or at least post every transaction to the ledger. Transparency is the key. No more Gox-phenomena with Willy bots will occur this way.
MF Global was regulated. How did that turn out?
I'm all for transparency, but the current regulatory system is corrupt top-to-bottom and has no business sticking it's nose into bitcoin dealings.
If you want secure, then sit around and wait for the confirmations. If you want fast, well, then you're gonna have to trust someone. But if you think regulations are gonna protect you, just remember how regulations worked out for mf global customers.
Also, check recent amendments. Derivatives held by banks (too big to fail) are now covered by FDIC. meaning covered by your tax dollars, and your children's tax dollars, and their children's tax dollars...
OK, I guess that's enough, I'm go to bed now, have fun everybody!
1071.
Post 10260603 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Damn, it feels good to be out of fiat.
Sweet dreams everyone!
1072.
Post 10260797 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Da bulls are back
Hola bitpop! You still mining? What are you running these days?
1073.
Post 10260862 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Da bulls are back
Hola bitpop! You still mining? What are you running these days?
Only hodl, no mining, no shitcoin. I was supposed to get a bonus Neptune but knc scammed me so I learned to stop.
Yeah, knc scammed me too, but at least the Neptune still making some coins.
I'm just holding on to what I got at this point.
Cheers bud!
1074.
Post 10260908 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Down with Litecoin!
going up to 15 some say 20.
What you think?
I think that looks like an awful lot of volume for a coin that was supposed to be dead.
1075.
Post 10260942 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
Da bulls are back
Hola bitpop! You still mining? What are you running these days?
Only hodl, no mining, no shitcoin. I was supposed to get a bonus Neptune but knc scammed me so I learned to stop.
Yeah, knc scammed me too, but at least the Neptune still making some coins.
I'm just holding on to what I got at this point.
Cheers bud!
Making coins for you or coins for KNC?
I paid 11.5 btc for that thing back in November 2013, received it in the summer and it paid for itself within the first two months.
and it still churns out at least 1 BTC per month, so yeah, making coin for me, not knc.
1076.
Post 10261033 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.52h):
am i about to pop my bubble cherry? XD
honestly though.. is this it?
Honestly, probably not. Though I thought that same thing last time and it just kept going, and going, and going...
So wtf do I know???
1077.
Post 10284724 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Note the above time stamps. Clearly, I am one of Jorge's many troll accounts.
Clearly
I'd seriously throw in a good chunk on StolfiCoin though.
Make it proof of trolling and distribute accordingly!
1078.
Post 10284753 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
$250 is the new $350...we will again just trickle down to $200.
Then over the next 3 months we see more bankruptcies and etc. Not really effecting the price.
At $200, will the next BIG STORY be down to double digits or $450....nobody knows.
Place your bets and have fun.
I've recently become less bullish on price. Previously I was buying set amount of CAD per month that we stay below 400 CAD.
Moving forward I will be only buying a set amount of BTC per month so if this thing does indeed keep going south, I'll be losing less and less each month.
1079.
Post 10284777 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Note the above time stamps. Clearly, I am one of Jorge's many troll accounts.
Clearly
I'd seriously throw in a good chunk on StolfiCoin though.
Make it proof of trolling and distribute accordingly!
if stolficoin even distributed and successfully maintained for 1 full years... i will convert all my bitcoin into it
Why wait? Gotta be an early adopter to get rich.
Let's just start pre-mining it now?
(Does this post count towards "proof of troll"?)
1080.
Post 10284812 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Note the above time stamps. Clearly, I am one of Jorge's many troll accounts.
Clearly
I'd seriously throw in a good chunk on StolfiCoin though.
Make it proof of trolling and distribute accordingly!
if stolficoin even distributed and successfully maintained for 1 full years... i will convert all my bitcoin into it
Why wait? Gotta be an early adopter to get rich.
Let's just start pre-mining it now?
(Does this post count towards "proof of troll"?)We could spend a few months pumping and then report Stolfi to the SEC.
Epic trolling, no?
Very devious, such meta.
1081.
Post 10284856 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
$250 is the new $350...we will again just trickle down to $200.
Then over the next 3 months we see more bankruptcies and etc. Not really effecting the price.
At $200, will the next BIG STORY be down to double digits or $450....nobody knows.
Place your bets and have fun.
I've recently become less bullish on price. Previously I was buying set amount of CAD per month that we stay below 400 CAD.
Moving forward I will be only buying a set amount of BTC per month so if this thing does indeed keep going south, I'll be losing less and less each month.
I'd agree buying in terms of weekly or biweekly or monthly under $300 is a good investment. I would re-evaluate once it goes above $400 again, not saying take all profits though.
Grand plan was buy below 400 sell above 800.
If this little experiment fails, it doesn't change my life one way or the other.
If it succeeds? ... bah, who knows?
1082.
Post 10284986 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Well look at Coinbase. Step walls bouncing in and out.
It might take a month or two before it starts acting like a "real" exchange, but I think the potential is there for it to be a volume player if they can get the regulatory crap figured out.
I did not follow through with the sign up process, as CaVirtex is serving me quite well, and interac payments from my bank are instant, so I don't have to predict the price a week in advance, but I found it strange that they did not throw any red flags when I was stepping through the process.
Does anyone know if coinbase will accept Canadian participants? The 0% market maker fee is especially enticing to me.
1083.
Post 10285011 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
$250 is the new $350...we will again just trickle down to $200.
Then over the next 3 months we see more bankruptcies and etc. Not really effecting the price.
At $200, will the next BIG STORY be down to double digits or $450....nobody knows.
Place your bets and have fun.
I've recently become less bullish on price. Previously I was buying set amount of CAD per month that we stay
below 400 CAD. Moving forward I will be only buying a set amount of BTC per month so if this thing does indeed keep going south, I'll be losing less and less each month.
That makes no sense. You should stick to you original plan. You get more for your money. What if it goes up? Are you then going to start buying thousands of dollars worth every month?
That ^ so if BTC goes to $10k how much will you be dropping a month on BTC
Emphasized for clarity. If we go back above 400 CAD my buying days are over (I'll still be mining probably) but yeah, my original target total number of bitcoin has already been reached, but with low prices I'm hoping to double that target,
tl;dr my bags are already full, I'm willing to take on additional risk at these prices, but I'm not going to bet the farm. If it succeeds, great, I'm set. If it fails, no big loss.
1084.
Post 10285103 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Does anyone know if coinbase will accept Canadian participants? The 0% market maker fee is especially enticing to me.
Not yet. They said they will in the future.
Hmm, good to hear, I guess, but I'll believe it when I sees it.
Any pressure on virtex to lower their fees would be welcome.
1085.
Post 10285210 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
think its safe to sleep in btc? :/
Probably not
If this has become a trading site then hell no. If this is a realistic future monitoring thread then it's always the right thing to do. And, I do this almost always unless I feel the need to take some advice and shell a few coins to make a little more at the right time. The way this market goes, I would never let more than 3-5% of my stash to be played with. I'm not greedy nor chancing stupid market theories.
I have to agree with the chef on this. Kodtycoon, damiano, you have to do whatever you need to do to sleep well at night, and I admit I'm only at about a 50-50 chance of this thing going either way... so no insight or advice to be had from me, but...
In my experience, when I wake up to see the market has gone down, I feel excited that there may be some opportunity to be had. When I wake up and see the market has gone up? I feel sick. I feel like I knew something and I had a chance at something and I let it slip.
Like I said, I'm 50-50 on this market right now, but I sleep better being invested as heavily add I can afford to be in bitcoin. Honestly, equities and fiat risk scare the shit out of me and give me bad dreams.
Not investment advice, just, like, you know, my opinion, man. I'm fully willing to take the consequences of my personal decisions, and I wish you good luck with yours.
1086.
Post 10285339 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Interesting. Sounds like your first attorney worked for a high-volume settlement mill.
Not really, they were specialized in *that* particular kind of lawsuit, based on that same earlier court decision. As I said, the decision was very clear and should have applied to all such cases (hundreds of thousands, maybe millions of home purchases financed by banks); but each victim had to sue separately. (If you think that the US or European legal system is rotten, you should try ours...)
Settlement mills always claim they are specialized. That is not inconsistent with also processing incredible volumes of clients, doing minimal and routine work on each case.
The firm was called something like "São Paulo Homeowners Association" and had branches all over the state; but, after the fact, we learned the local offices in each city were actually franchises. The Campinas office was particularly inept, dishonest, and badly staffed (we were not their only victims).
Do you have injury mills in Brazil?
There may be, I don't know. I have the impression that Brazilian courts are not as prone to award fat injury damages to common folk as the US courts.
I tried googling for such thing, and the first hit was actually a lawyer and a judge in a small town who conspired to create a "lawsuit factory". You wanted to harm someone, somewhere? You only had to hire that lawyer; he would bring some bogus charges against the victim in that city's court, and the judge would approve it. Some 600 such cases were tried before the higher authorities noticed...
Interesting, now I begin to understand your natural (and frankly, irrational) aversion to bitcoin.
1087.
Post 10285500 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Interesting, now I begin to understand your natural (and frankly, irrational) aversion to bitcoin.
I don't follow the reasoning... I would say that my close encounters with the Amway epidemics in the 1990s, and watching the TelexFree epidemics quite recently, have more to do with it. And 40+ years of witnessing a long string of wonderful technological projects and ideas that flopped...
I'm close to passing out, but I'll try to be more coherent.
You have been accustomed to seeing scams. You've seen them probably your entire life.
There are many scams
involving bitcoin as the vehicle of payment, but as far as I know, there is no inherent scam involved in the bitcoin system itself.
When you take a step back and realize that the enabler for these scams (bitcoin and others) is the opacity of the ownership of money (and other assets I.e. you give your money to a third party and they do as they please) then you begin to realize that a truly transparent system of transaction has the potential to limit the scope of the scam.
Once you begin to realize the extent of the scam being perpetrated by the current fiat system, then you will begin to realize the true value of bitcoin.
I hope I'm making sense, I'm seeing double at this point.
1088.
Post 10285511 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
And here is something I thought interesting for the traders, don't know if it means anything, but I like random lines on charts
If that low point was actually a pivot or reversal, then this might be a "legit" trend line... at least until it's broken, lol
*sorry, I can't get my phone to fit the volume bars in there, maybe someone could draw a better one?
1089.
Post 10285712 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Scams involving bitcoin just talk to it's excellent ability as a means of storing and transferring value.
Just like science making nuclear bombs doesn't make science "evil" it makes it effective.
You know what's cool? Speaking of the scientific method, I heard a podcast featuring that guy who's always ragging on bitcoin, Tim Swanson, very intelligent guy, great arguments. But I think that sometimes people get so caught up in something that they can't get a proper perspective. People sometimes get emotionally attached to the experiment and can't objectively measure the results or outcomes of the experiment they are trying to test.
I'm the same way, as are most bitcoin enthusiasts.
It's important to listen to the negative arguments. Bitcoin is not perfect, it might still fail and fall on its face. It would be an abnormality of innovation of it didn't, actually.
I think we have to take a measured approach and stop trying to "sell" bitcoin to the masses. It's not only counter-productive, it's irresponsible.
1090.
Post 10285772 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Scams involving bitcoin just talk to it's excellent ability as a means of storing and transferring value.
Just like science making nuclear bombs doesn't make science "evil" it makes it effective.
You know what's cool? Speaking of the scientific method, I heard a podcast featuring that guy who's always ragging on bitcoin, Tim Swanson, very intelligent guy, great arguments. But I think that sometimes people get so caught up in something that they can't get a proper perspective.
I'm the same way, as are most bitcoin enthusiasts.
It's important to listen to the negative arguments. Bitcoin is not perfect, it might still fail and fall on its face. It would be an abnormality of innovation of it didn't, actually.
I think we have to take a measured approach and stop trying to "sell" bitcoin to the masses. It's not only counter-productive, it's irresponsible.
Don't be mad, I'm sure your next shilling check will be better, who are you with? JPM?
Didn't you used to have an avatar?
1091.
Post 10285898 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
We have great news...
Q: "Why wouldn't you want to innovate on top of the existing platform?"
A: Because it's corrupt to the core.
1092.
Post 10286011 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
We have great news...
Q: "Why wouldn't you want to innovate on top of the existing platform?"
A: Because it's corrupt to the core.
I get what you are saying, but have you asked the rest of the world, aka 7 billion people, if they give a shit about it ? I just talked to my parents the other day about money. Not once did they complained about the current banking system or fiat in general.
Just wait a couple years.
How did your parents retirements funds fare in the 2008-9 crash btw? Not trying to be mean, just saying that many people I know were hurt financially during those times.
The underlying system has not changed.
1093.
Post 10286096 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
The regulating environment in the U.S. is not conducive to progress in any way.
Good luck U.S.citizens, I hope it all works out for your global reserve currency.
btw, we've had a successfully operating bitcoin exchange in Canada for almost four years now...
1094.
Post 10286114 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
How were you duped into loosing 220,000? Please lay out the math?
Hmm, legal math?
I would expect something like,
unreasonable expectation + unconfirmed promises = gimme moneys!!!
1095.
Post 10286194 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
How were you duped into loosing 220,000? Please lay out the math?
Hmm, legal math?
I would expect something like,
unreasonable expectation + unconfirmed promises = gimme moneys!!!
You must be seeing double or triple if you read legal from lay out.
I have, admittedly, gone a little sideways tonight.
Well done btw, hopefully saved him from wasting a ton of money on a losing case.
1096.
Post 10286214 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Ask the Citigroup "digital chief" (w/e the feck that means) how he feels about the period in 2008 when Citi was criminally trading while insolvent?
Does he have nightmares about assets disappearing off electronic databases under his responsibility, assets that may have never existed in the first place? Google Treasury bond fails to deliver and naked shorting in the US t-bill market. Or worthless MBS held in off-balance sheet SPV.
Want to build on top that pile of epic fail? uh-huh.
But, but, it's "low cost, regulated, and trusted"
1097.
Post 10286342 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
Low volume, not much on the bidside at finex till 250, looks like dragon is running the show tonight
If this trendline is broken to the downside, then I'll worry.
Btw, "In order to dump coins one must have coins" this is true, except in the case of any exchange that operates an off-chain overbook. Which is pretty much all of them at this point.
Please maintain control of your own keys people... that's pretty much the whole point of this whole thing!
1098.
Post 10286500 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
at what price(more or less) can we consider the trendline broken downwards?
250?
Price will change with time.
Open bitcoin wisdom, go to bitfinex 6 hr chart, click on line tool, then press the lowest two points along the line.
I'm on a phone right now so Please share your results. I would like to be able to see the volume bars and hoe they may or may not correlate with the price proximity to that line.
1099.
Post 10307471 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.54h):
From the source:
http://www.prnewswire.com/news-releases/coinbase-inc--national-securities-law-firm-investigates-licensure-of-coinbases-bitcoin-exchange-300028022.htmlOn January 26, 2015, Coinbase announced that it launched the first regulated Bitcoin Exchange in the United States, and that it is licensed to do business in 25 states, including New York and California. Coinbase's statement may have artificially inflated the price of Bitcoins as the cybercurrency rose to $263. However, it was later revealed by New York's Department of Financial Services and California's Department of Business Oversight that Coinbase did not have the licenses necessary to operate as a Bitcoin Exchange in New York or California. Following this announcement, the price of a Bitcoin fell to $233.
If this bunch of jokers gets their panties in a twist over every little 30 dollar pump and dump, they are going to be very busy little beavers.
Funny how they don't worry about stuff like LIBOR or the London gold fix so much...
I think coinbase just didn't grease the right palms and this is just a shakedown for protection money.
Regulation is a joke.
1100.
Post 10309747 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.55h):
To elasticband:
Hey dude!
It's your American friend from Amsterdam, remember? I lost my phone but found you on here. I'm still here in Amsterdam for a little bit and would LOVE to see you for a coffee/beer and talk coin + other interesting topics etc. for a minute.
I am free all of the time.
I was thinking maybe we can meet for a drink tonight or tomorrow?
I'll be on here for a little bit longer but will check it again tomorrow @ 13:00 (January 30th). If you just message me a time and a place by then (13:00 tomorrow, January 30th) I will be at the place and time you suggest since I am totally free unless I hear back from you while I am still on here for a little while longer.
I sent you a PM on here with an email for me.
Hope all is good for you dude, looking forward to having a drink together
Ok, I can take the trolling, name calling, schadenfreude and all the rest.
But when this place turns into a dating site, I take it as a good time to take a vacation from bitcoin.
1101.
Post 10325729 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.55h):
If the fed chair were in charge of bitcoin: We may or may not continue the manipulation of the interest rate, that depends on the numbers we can more or less accidentally glean out our helpless statistics, come to think of it, we will continue manipulating, whether higher or lower, indefinitely. If something happens or not happens, we will not engage in a new quantitative easing program, unless shit really happens, then we might. And I really shouldn't tell you, but our actions can not be too obvious, so we may invent something new, or maybe we already have invented it, and are ready to act, depending on my aunts cats rate of miauing.
As long as the bitcoin god is in charge of bitcoin: There will be reward halving at block 420000.
And there, amid the mindless braying of trolls, can be found, from time to time, a snippet of prose.
1102.
Post 10329548 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.55h):
<snip>
What an attitude....
Lets hope the younger generation will put your kind in your place.
I'm not sure why anyone wastes their time with that guy. Only person on my ignore list at the moment.
* that is the coolest gif I've seen since the bear driving the flaming car btw.
Thanks for that
1103.
Post 10372601 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.56h):
Sadly no time to keep up with the thread, but I was just skimming and then I saw this...
you don't know who owns the large amount of BTC.
You may say that unknown people managed to get billions of BTC by bad ways, but they probably already sold most of them...
Yes, exactly! I don't know who owns the majority of BTC. Also you and the majority of the market doesn't know that. They only have their high hopes of easy riches. No facts nor certainties to base their speculations on. It's all blind gambling with degenerate gamblers trying to mask their addiction with illusionary fantasies.
Well I do know who owns the majority of USD and it's a bunch of thugs who use the government to do their dirty work for them. "Intellectual Property" owners who use law enforcement to keep me from copying books, movies, songs, drugs, etc that I already own. Those poor impoverished drug, movie and music industry execs, software moguls and J.K. fucking Rowling. They're so poor they have to go to some soup kitchen called Spago to commiserate with each other.
I'm not looking for easy riches. I'm looking for freedom.
Not sure this is the best place for political opinions to be voiced, discussed, or debated; but on this particular issue, I wholeheartedly agree.
I'm not looking to get rich by stealing the wealth of others. In fact, I want to see the end of the current system which enables such theft.
When enough people begin to realize the extent of the corruption going on, there will be hell to pay.
Sleep tight gentlemen.
1104.
Post 10381806 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
I was at Campus Party in São Paulo this afternoon.
For the first time, I met a bitcoiner in person. A guy with a "BITCOIN" T-shirt walked by. I prudently gave him berth; who knows, he might recognize me.
While strolling around I saw a young American giving a talk on e-payments. He was showing numbers about unbanked people in various places aroud the world.
I braced myself for the moment he would say, TA-DA, bitcoin will solve all the problems of those people, and cure cancer too.
Instead he started talking about PayPal, and I noticed the "PayPal" cushions on the stage. Oh, OK.
But, when I was about to leave, he puts up a slide with wads of bitcoin bills (!) over a bed of bitcoin coins!
Turns out he was from Braintree, not from PayPal.
But, after a short mention of bitcoin, he briefly described Ripple -- and said it was a very clever idea.
(But it was Ripple the network, not Ripple the coin. Sorry @Walsoraj, I think I will not be buying yet.)
He said that Braintree was trying to integrate with those things (Bitcoin and maybe others) because merchants asked them to; and merchants were asking for them because their customers were pestering asking for them.
But he said that those things were all quite immature yet.
He also said that they (Braintree) are very positive about Coinbase and are working with them.
Thanks for the heads up Jorge.
Any reports from real-life random encounters with bitcoin-related subjects from far-flung, foreign countries are always appreciated.
Actually, you've seen exactly one more "bitcoiner" in the wild than I ever have here in Canada, though I no longer attend campus events... perhaps I should look into some of the alumni event crap they keep sending me? (Though I suspect they're just fishing for donations)
1105.
Post 10382305 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
Hash rate is only up over 10 percent in the past day. Not a big deal.
10% is quite a bit
After several weeks of flatness, and compared to previous increases of up to 40%, this little 10% bump is long overdue.
Having said that, it is important to reiterate that
difficulty follows price, not the other way around.
The fact that the difficulty curve has largely flattened in recent weeks is a function of the price.
If price goes up, much more expenditure will happen in the mining space,
because it will be profitable to do so. If the price goes down? So will difficulty... eventually.
*also* current diff is 41.27 billion, next estimated diff is 43.83 billion. This amounts to only roughly a 6% increase, which is hardly anything to get all hot and bothered about.
When the difficulty starts to
decrease by 10 or 20 percent...
THEN you should start to worry!
1106.
Post 10382615 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
Bitcoin wisdom still not working for me. Anyone found a fix? Or is wisdom dead for now?
1107.
Post 10382703 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
Bitcoin wisdom still not working for me. Anyone found a fix? Or is wisdom dead for now?
This works:
Wait for error
Hit Control+Shift+j
enter command:
window.$host = "s2.bitcoinwisdom.com"
Hmm, how to do this on phone I wonder.?
Is it not strange that the site has worked fine for months on my phone? and now cannot connect at all?
* bitcointicker.co is working fine for me in the mean time
** excellent tech support in this thread btw
... now if I could ask about a problem with my printer?...
1108.
Post 10382762 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
Bitcoin wisdom still not working for me. Anyone found a fix? Or is wisdom dead for now?
This works:
Wait for error
Hit Control+Shift+j
enter command:
window.$host = "s2.bitcoinwisdom.com"
Hmm, how to do this on phone I wonder.?
Is it not strange that the site has worked fine for months on my phone? and now cannot connect at all?
It's on their end not your phone. Hopefully it's fixed soon.
Thank you,
I don't see you around here much,
Care to make a guess on price movement in the next 48 hours?
(I like to weigh the input of as many random indicators as possible)
*edit* speaking of random indicators ->
https://www.cryptocoinsnews.com/bitcoin-begins-end-100-years-slavery/A fun read
1109.
Post 10382972 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
Care to make a guess on price movement in the next 48 hours?
(I like to weigh the input of as many random indicators as possible)
I'm not good with the short term guesses. I suspect forces are keeping the price of bitcoin artificially low. The wave of adoption will eventually break the bear market. I think we are near the bottom and prices will slowly recover for a bit and then hit another hype bubble.
Bah!
Far too reasoned a response for my "indication transmogrification index"
Also, I must, as a matter of course, disregard any opinion that too closely matches my own.
Thanks anyways,
1110.
Post 10410893 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.57h):
7 days until the Euro crashes. Can't wait.
I'm assuming you are referring to the troika's demand that Greece submit a bail-out plan that they will not submit, prompting a Greek Gov't shutdown and a massive bank-run.
If this plays out as expected, the Euro will lose value against the GBP, Swiss Franc and USD, but that doesn't necessarily mean it will crash. What it will mean for bitcoin prices is far from certain. I don't see the price appreciating significantly in US Dollars until it becomes more widely utilized as a means to evade capital controls.
Worldwide market turbulence in the coming months.
Please return your trays to the upright, locked position and fasten your seatbelts!
Those with a queasy stomach may want to keep a barf bag handy.
1111.
Post 10443836 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoin was a little before it's time it seems.
Mass Adoption is a fairy tale. Don't believe the hype. Far too early, maybe 2 or 3 years we'll see.
Price is an illusion. Everything is fucked up right now. All currencies, commodities, are dropping in relation to USD, the "safe haven".
Still, when I started learning about this stuff it was under 2 bucks, now it's over 200...
Lots of room on either side, maybe up, maybe down.
Best of luck gentlemen.
1112.
Post 10443968 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
The front page of ripple.com, filled with testimonials from banksters and former traders of goldman sachs doesn't instill any confidence, more like a confirmation of legally lobbied fraud.
Fraud is rampant. Both in governmentally regulated and banking sector sanctioned fraud, and also in the unregulated fringe elements running bitcoin scams.
The main difference is that with a public ledger fraud could be made transparent and ineffectual, whereas the current "legally sanctioned" fraud is unassailable under the current state.
Interesting times...
1113.
Post 10444171 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
The front page of ripple.com, filled with testimonials from banksters and former traders of goldman sachs doesn't instill any confidence, more like a confirmation of legally lobbied fraud.
Fraud is rampant. Both in governmentally regulated and banking sector sanctioned fraud, and also in the unregulated fringe elements running bitcoin scams.
The main difference is that with a public ledger fraud could be made transparent and ineffectual, whereas the current "legally sanctioned" fraud is unassailable under the current state.
Interesting times...
Perhaps the "fringe elements" are government funded.
If a government (or any other entity) was serious about destroying bitcoin, posing as a "bad actor" would be an effective, and efficient strategy.
1114.
Post 10444296 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
they already dumped their bags during the 'chinese panic' flash dumps .
Everything is fine until people start to try to withdraw funds.
All these centralized exchanges operate like a black box and no one, other than the exchange operators, knows what's what.
If you don't control your keys, you don't actually *own* the bitcoins. Just like shares in an etf or company, just like deposits in a bank, just like off shores properties. If you don't hold it, you don't own it.
Everything is fine until it's not.
1115.
Post 10444503 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Everything is fine until people start to try to withdraw funds.
All these centralized exchanges operate like a black box and no one, other than the exchange operators, knows what's what.
If you don't control your keys, you don't actually *own* the bitcoins. Just like shares in an etf or company, just like deposits in a bank, just like off shores properties. If you don't hold it, you don't own it.
Everything is fine until it's not.
And even if you "own" your bitcoins, then you still have absolutely no control over their value.
Playing with bitcoin gambling, that's out of your control, either way.
Absolutely true. Well put...
But also consider that you have no *direct* control over the value of your dollars either.
* unless you're the director of the central bank, or friends of the director, or connected in some way to that group of elites that own shares in the federal reserve...
Where do I go to find a list of those individuals again? I can't seem to find it anywhere?
1116.
Post 10444549 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoin is the ultimate poker chip.
1117.
Post 10444606 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Ah screw it, I'm full on bull mode now!
Best of luck everyone!
1118.
Post 10444703 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Shorts gonna get squeezed sooner than later
Only a matter of time before it all comes crashing back down...
Better to enjoy it while it lasts I guess.
1119.
Post 10444755 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Shorts gonna get squeezed sooner than later
Only a matter of time before it all comes crashing back down...
Better to enjoy it while it lasts I guess.
Not many coins available to short so it's gonna get interesting
It would be true, unless some markets allow naked shorts, or provide fractional reserves...
But no reputable markets would allow that! Right?
1120.
Post 10444809 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Is coinbase leading this spike?
I'm not sure who lead, but Houdini err huobi seems to be following through
1121.
Post 10444848 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
I get the feeling this is just another, "buy the poker stars rumor and sell the news"
But who knows, it's been so long since a real rally that I can't even remember that feel?
1122.
Post 10444878 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Is coinbase leading this spike?
I'm not sure who lead, but Houdini err huobi seems to be following through
I wouldn't think they had enough volume to lead but they seem to have the highest price. Why would there be a premium there?
Makes no sense, just watched another wall obliterated... looked like a bot swarm, not a pull...
1123.
Post 10444905 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Absolutely true. Well put...
But also consider that you have no *direct* control over the value of your dollars either.
* unless you're the director of the central bank, or friends of the director, or connected in some way to that group of elites that own shares in the federal reserve...
Where do I go to find a list of those individuals again? I can't seem to find it anywhere?
I agree, that's why I don't prefer to keep my wealth in any currency.
But I have to say that the dollar is doing a better job by having a predictable price.
It's not as important to me if the value of currency is decreasing or increasing. The most important thing is to be able to predict the value in the future. Inflation or deflation are both good if the change can be calculated into an equation. If you make plans with certain numbers, and these numbers will have totally different values that you had predicted, then your plans will get messed up.
The thing is, the central bank is still necessary for one thing, and that is to keep the inflation at a predictable rate. Even if they aren't doing a very good job at it, it's still a lot better then bitcoins market that's highly attractive for speculation.
I think that the best solution yet is nubits, because tied it's value to the predictable value of the dollar. It has the open-source benefits of crypto, while eliminating the main issue that makes crypto impractical as a tool of finance.
Yeah, ok, enjoy your fiat slow death.
I'm not playing that game anymore.Sorry, just re-read your statement. nubits? Lol?
The tools of your old system of finance are dying. Flight to the USD as a"safe haven" will result in many broken hearts and broken dreams.
You talk about being able to predict inflation? I can predict perfectly, mathematically, the inflation of bitcoin in the coming years, can you say the same for your precious USD?
*second edit* wow, that was some serious Bulltard sentiment I just spouted there , just about time for my comeuppance :-)
1124.
Post 10445054 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Ideally, currencies are not to be enjoyed, but to be used for more interesting and practical purposes. I will celebrate the day when it'll seem practical to adopt crypto for doing business. More then the practicality of getting free media coverage for adopting it by accepting bitpay's USD services.
Till then, it's all just a fun night at the casino.
Good enough, and agreed.
I get a little carried away now and then. I also look forward to the day when nation states are bound by a Blockchain for the spending of tax dollars.
Perhaps one day we will have responsible governance... Perhaps some day...
1125.
Post 10445128 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Ideally, currencies are not to be enjoyed, but to be used for more interesting and practical purposes. I will celebrate the day when it'll seem practical to adopt crypto for doing business. More then the practicality of getting free media coverage for adopting it by accepting bitpay's USD services.
Till then, it's all just a fun night at the casino.
Good enough, and agreed.
I get a little carried away now and then. I also look forward to the day when nation states are bound by a Blockchain for the spending of tax dollars.
Perhaps one day we will have responsible governance... Perhaps some day...
i'll be shocked beyond description if anything even close to it comes about in our lifetimes.
I'm starting to think it's either a new resonance of freedom of thought and innovation, or another few hundred years of the dark ages.
I fully expect to see one or the other outcome within my lifetime. (Next 50 years)
1126.
Post 10445282 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
+2.75k shorts
+55k longs (~220btc)
looks bullish to me
Be careful when you feel too adventurous. There's a member of this forum/thread that says "sometimes when it looks too bullish, it's actually bearish"
More often than not, he's been right.
...
I don't normally give predictions, but I'm drunk and going to bed now, so I'll drop this one.
I expect the price to fall overnight back to at least 222 - I wish it would just keep going up, but wishes and fishes and all that
1127.
Post 10456216 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
looks like there is still plenty of cash in the sidelines
i'm personally 10:1 / cash:btc which is my maximum risk level in i'm willing to go ... nice to have scraped the latest bottom but no way i'm putting more in at this point ... just watching the gains now and looking for the eventual cliff dive ... hoping for sunshine preparing for rain ...
Interesting.
I'm the opposite, ten to one bitcoin to fiat.
One man's risk is another's safe haven I suppose.
1128.
Post 10456690 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
looks like there is still plenty of cash in the sidelines
i'm personally 10:1 / cash:btc which is my maximum risk level in i'm willing to go ... nice to have scraped the latest bottom but no way i'm putting more in at this point ... just watching the gains now and looking for the eventual cliff dive ... hoping for sunshine preparing for rain ...
Interesting.
I'm the opposite, ten to one bitcoin to fiat.
One man's risk is another's safe haven I suppose.
I would say the US dollar is one of the worst places to park your wealth, I am sure many in this forum agree. What about some gold and silver?
By the way, what taxes do you have to pay in the US when you buy silver? It's the full VAT in EU, so 20% in my case
Oh yeah, I've got some metals of course, though I'm underwater on my silver, but the paladium I picked up is doing very well.
Not sure about the U.S., but in Canada there is no tax on precious metals.
I should clarify also, it's not like I started out being ten to one invested into bitcoin, but like anyone else that's been around for a while, your investment ratio changes radically over time.
Still, I don't look at bitcoin as what is generally considered "real money" at this point. To me, it's just some numbers in a distributed ledger that may or may not have value in the future.
1129.
Post 10456920 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
1130.
Post 10457070 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Lol, you read Zerohedge. They have a gold pumping agenda, there is 10% good stuff and 90% total doom porn crap. Joke of a site.
Guilty as charged. I enjoy the anti-establishment sentiment.
It's not like I take this stuff as gospel. I read all kinds of stuff. What do you read, I wonder?
BTW DeadCoin, How many times has bitcoin "died" since you started trolling these forums?
1131.
Post 10460298 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Technical pump over, back to reality.
Hmmmm ,, so theoretically, if someone had opened a short position at, oh let's say, 249.60...
What would be the target to close said position?
Theoretically, of course.
1132.
Post 10462446 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Or so you hope. So funny watching all the "Oh BTC dead crowd" go quiet and make dumb comments.
When did I become part of the BTC is dead crowd. I am just saying that it will likely continue to follow the long term trend until we see a real reversal, but its gotta go sideways for a long long time before a reversal of the long term trend.
I thought the high volume low at 166 was the point of the reversal.
So you think we will go lower than 166?
1133.
Post 10462726 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Has anyone interviewed Professor Bitcorn lately about his predictions? Becaus I'd really like some $15 coins and I'd like to know where to get them.
Yeah, I would like to see Prof. Bitcorn interviewed by one of those Bitcoin Experts who predicted 10'000 USD/BTC by the end of 2014. (Even in log scale, they were further off than he was.)
Ask Stolfi instead. He says BTC is doomed long term (no date so we will never the wrong)
What was the date again when bitcoin is expected to replace the dollar and send the US government into bankruptcy?
It will be sometime within the last 3 months of Obama's tenure.
That's just, like, my opinion, man.
1134.
Post 10462919 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
There's like 400 coins up for $259 in stamp.
People dumping already?
Jeez!
Valentine's day.
Red candles for everyone.
1135.
Post 10462963 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
There's like 400 coins up for $259 in stamp.
People dumping already?
Jeez!
Valentine's day.
Red candles for everyone.
Looks more like a big green candle to me.
Wishful thinking on my part.
Green candles are not as romantic as red.
What could possibly be more romantic than cheap coins?
1136.
Post 10463589 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Like a relentless march towards an unlikely outcome.
Inevitable, nonetheless.
1137.
Post 10463721 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Like a relentless march towards an unlikely outcome.
Inevitable, nonetheless.
much like your date nights
Touché.
"Up and down, up and down. Repeat, ad nauseam."
1138.
Post 10463768 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
LMAO
Read that shit:
http://www.reddit.com/r/Bitcoin/comments/2vwjb4/someone_needs_to_do_a_new_bitcoin_ad_campaign/"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy and there is nothing interesting about him.
Someone needs to do a new bitcoin ad campaign promoting these ideas."
Bitcoin created a monster. A cult made of batshit crazy nutjobs (r/bitcoiners are a fine example). Sometimes it's hilarious, then you think about it and you realize it's pretty sad.
I nominate Vitalik Butterin for the ad
LOL!
1139.
Post 10463844 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
[...] Getting drunk, passing out and waking up richer is working so far.
Much better than getting drunk, passing out, and waking up pregnant!
Happy Valentine's wall-observers!
1140.
Post 10464011 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
I think $260ish will be the top for now and we'll head back down on a big dump. Maybe that will be it for the bear?
And to think, after weeks at 220ish, 260 seemed so far away, it was almost,
unthinkable.
I, personally, hold out a half-hearted hope for even higher, though recent behavior has taught me to expect the opposite.
I'm not sure if bitcoin will allow for the same kind of naked short manipulation that happens regularly in some other markets (if you believe the preachings of GATA and others).
It would be a nice story if bitcoin were somehow immune to the manipulations of would-be manipulators; but so long as the exchanges operate as off-chain black boxes, one can never be certain.
1141.
Post 10464064 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
I think $260ish will be the top for now and we'll head back down on a big dump. Maybe that will be it for the bear?
If you really think that, you should be shorting. You'll stand to make a ton of profit and prove all these stupid perma bulls wrong.
You know what? Everyone moans and complains about the trolls, but once the price moves up like this, their absence makes this thread a little dull...
1142.
Post 10464269 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
5th of Jameson in for the night
logged into bitfinex
taking votes on if I submit a margin short or long wall
SHORT. WE don't have enough shorts yet to squeeze to $350. Shorts actually went DOWN today.
Seriously though, it's getting a bit ridiculous.
"As low as possible for as long as possible."
Let's get this back under control, people.
*edit* totally taking my own book right now, as if it weren't obvious enough
1143.
Post 10464500 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
I think $260ish will be the top for now and we'll head back down on a big dump. Maybe that will be it for the bear?
If you really think that, you should be shorting. You'll stand to make a ton of profit and prove all these stupid perma bulls wrong.
You know what? Everyone moans and complains about the trolls, but once the price moves up like this, their absence makes this thread a little dull...
Wait for the next up trend. Bear trolls will be replaced by train and moon trolls, and everything will be the same with inverted signal
You mean like this?
Ah screw it, I'm full on bull mode now!
Best of luck everyone!
Yup! Guilty as charged!
1144.
Post 10467440 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoin price is pumped for one reason, and one reason only: to make dumping lulzier.
You'll grasp that. Eventually.
So my bitcoins are only worth 10% more than they were worth 2 days ago?
Oh noes
1145.
Post 10467934 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoin price is pumped for one reason, and one reason only: to make dumping lulzier.
You'll grasp that. Eventually.
So my bitcoins are only worth 10% more than they were worth 2 days ago?
Oh noes
~75% less than it was a year ago, ~50% less than when I first told you this will end in tears
And
only 100X higher than when I started this journey.
So sad
WHERE WERE YOU THEN? LAMB CHOP? WHY DIDN'T YOU SAVE ME FROM MY OWN STUPIDITY WHEN BITCOIN WAS 2 DOLLARS?
1146.
Post 10468046 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
you fools!
lambchop could be goat or (un)loaded shorting the shit out of this and laughing your sorry ass.
goat was a master troll.
Actually, that kinda makes sense.
I miss goat.
1147.
Post 10468310 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
yeaaaah it's important to remember that there are like ... a couple thousand people ... like less than 5000 people ... who were involved in bitcoin in the sub $2 land when it was totally unknown when there was zero press zero exchanges zero merchant acceptance zero infrastructure and zero purpose for it ... and there's like now hundreds of thousands of victims investors now ... so it's critically critically important that those people who own tons of btc for zero investment continue to convince everyone else it's worth *anything* at all ... the vast majority of people who are not the core base super early fanatics have lost ... and lost badly ... simple ... obvious ...
This sums up rather nicely the reason why I often post the phrase "as low as possible for as long as possible"
I wish that life were fair. I wish that everyone could be rich. I would like the price to go back to 2 dollars or 2 cents so that everyone could get their
"fair share".
Unfortunately, life doesn't work that way. We are all responsible for our own decisions. (And, apparently, the decisions of the politicians we elect)
Life ain't fair. If you don't like it, tough shit.
1148.
Post 10468530 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoiners, be sure to cheer for every pump and make fun of the "beartrolls" before the next low.
Thank you for the advice! I await the "next low" with great anticipation!
1149.
Post 10468643 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
yeaaaah it's important to remember that there are like ... a couple thousand people ... like less than 5000 people ... who were involved in bitcoin in the sub $2 land when it was totally unknown when there was zero press zero exchanges zero merchant acceptance zero infrastructure and zero purpose for it ... and there's like now hundreds of thousands of victims investors now ... so it's critically critically important that those people who own tons of btc for zero investment continue to convince everyone else it's worth *anything* at all ... the vast majority of people who are not the core base super early fanatics have lost ... and lost badly ... simple ... obvious ...
This sums up rather nicely the reason why I often post the phrase "as low as possible for as long as possible"
I wish that life were fair. I wish that everyone could be rich. I would like the price to go back to 2 dollars or 2 cents so that everyone could get their
"fair share".
Unfortunately, life doesn't work that way. We are all responsible for our own decisions. (And, apparently, the decisions of the politicians we elect)
Life ain't fair. If you don't like it, tough shit.
Your statement that life is not fair and if people don't like it tough shit is arrogant elitist and offensive. Your other statements on how you wish life were fair come across to me as completely ingenuous. If we ever have a revolution , a real revolution , not the 60s hippy bullshit revolution , people like you (i am *assuming* you are rich) will hang from the lampposts.
How about all the workers poor aka the majority of all the people go to city hall pour gas on themselves and flick that lighter ? No more slaves and the elites have their shiny marble covered in burnt guts sounds like how life should be huh ? Fuck you sicko.lul wut?
No kidding, that's some crazy projection bro.
1150.
Post 10469208 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
This sums up rather nicely the reason why I often post the phrase "as low as possible for as long as possible"
I wish that life were fair. I wish that everyone could be rich. I would like the price to go back to 2 dollars or 2 cents so that everyone could get their "fair share".
Unfortunately, life doesn't work that way. We are all responsible for our own decisions. (And, apparently, the decisions of the politicians we elect)
Life ain't fair. If you don't like it, tough shit.
Are you really trying to say that buying at <$2 -- and getting insanely, incredibly lucky to make a fortune off this massive bubble -- makes anybody a financial genius? It turned out to be a good decision, but best believe it was mostly lucky.
I'd say the biggest geniuses were the whales who made the "decision" to get the fuck out at the top while the suckers were still willing to buy.
No.
There is nothing "insane" or "incredibly lucky" about realizing the potential of a new technology and its inevitable impacts on a globally corrupt and immoral financial system.
What I'm
trying to say is that if someone is paying attention and putting forth the effort to educate themselves about the way the current financial system works, (newsflash, they don't teach that shit in schools) and then they learn about a new technological breakthrough that has the potential to make a substantial change that would allow everyone the freedom to bypass the leeches and parasites that prey on the productive to enrich only themselves, they should not be demonized for their initiative, rather, they should be rewarded, and deservedly so.
Err, rambling, sorry.
It's not about of "getting revenge". It is about taking responsibility, and not requiring the productive to subsidize the rest.
Why do I feel like Hank Rearden in the courtroom right now, trying to explain things that should be obvious?
1151.
Post 10469545 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
^Say it with anything you want, just don't try for the moral high ground, money changer.
Fuck the moral high ground, let's fight it out in the trenches. <feel free to insert that picture of that poor kid wetting himself here>
Money changers exist to allow people to exchange good money for bad, (And vice-versa, as needs require)
"When money ceases to be the tool by which men deal with one another, then men become the tools of men."
1152.
Post 10469604 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
There is nothing "insane" or "incredibly lucky" about realizing the potential of a new technology and its potential impacts on a globally corrupt and immoral financial system.
Nothing is being impacted. If anything, the very thing you're attempting to impact is in the process of assimilating your "disruptive" technology.
What I'm trying to say that if someone is paying attention and putting forth the effort to educate themselves about the way the current financial system works, (newsflash, they don't teach that shit in schools) and then they learn about a new technological breakthrough that has the potential to make a substantial change that would allow everyone the freedom to bypass the leeches and parasites that prey on the productive to enrich only themselves, they should not be demonized for their initiative, rather, they should be rewarded, and deservedly so.
Do you believe in the "welfare queen" myth, too?
Err, rambling, sorry.
No you're not.
It's not about of "getting revenge". It is about taking responsibility, and not requiring the productive to subsidize the rest.
Oh those poor productive hard-workin rich folks who randomly dumped $500 into bitcoin so they could have extra purchasing power on hand for their next ounce of weed.
Why do I feel like Hank Rearden in the courtroom right now, trying to explain things that should be obvious?
Stop reading shitty novels.
OK. Enjoy your fiat. I hope you receive all that you deserve.
1153.
Post 10469741 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
...
"When money ceases to be the tool by which men deal with one another, then men become the tools of men."
Your waifu can't write for sour apples.
But sour apples make the best pies.
OK. Enjoy your fiat. I hope you receive all that you deserve.
man, with fiat at least you have an opportunity to survive a system reset, after a hyperinflation and that shit...
with bitcoin reset you dont stand a chance.
Bitcoin at least provides an accurate ledger of who owns what. The current system has hopelessly obfuscated ownership of assets in a cascade of derivatives.
1154.
Post 10469868 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
OK. Enjoy your fiat. I hope you receive all that you deserve.
Did you hold through this entire yearlong+ plummet or what?
Yup! Just mining and holding.
It's not like I've got a life-changing amount of coins anyways, even if the price gets back to a thousand it still won't change much.
1155.
Post 10470062 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
shmadz:
Do you really buy into that r/bitcoin ballistic nutjob manchildren bullshit? For real?
That "fiat is corrupt, bitcoin will save us" stuff is a clumsy attempt to pump bitcoin by late adopters, gullible get-rich quick fools and really bad amateur investors.
And even if you believe that the fiat system is not perfect, bitcoin is a joke in comparison, not a solution.
Everything that surrounds bitcoin and crypto in general is more corrupt that anything I have ever seen in my life. lol
Get off that hopium and kool-aid, son. Seriously.
Yeah, sure, why not?
I don't read reddit, but I've believed that bitcoin provides a mechanism that could provide a way for society to escape from under the clutches of the global central banking cartel ever since I first read the white paper.
If you don't feel the same way I'm not sure why you would bother to read this forum?
1156.
Post 10470174 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Bitcoin at least provides an accurate ledger of who owns what. The current system has hopelessly obfuscated ownership of assets in a cascade of derivatives.
nope, it merely provides transparency, but the ownership is even more obfuscated.
Hmmmm, ok. More specifically, it provides
proof of ownership.
If people ever try to cash out of their paper promises en masse, they will find that many of them will end up claiming ownership of the same physical assets. Undeniable proof of ownership is what the blockchain enables, and what makes it interesting.
1157.
Post 10470254 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
...
Bitcoin at least provides an accurate ledger of who owns what. The current system has hopelessly obfuscated ownership of assets in a cascade of derivatives.
I'm glad that you enjoy knowing that 1LolIStolededURCoinzKthxBai has your Bitcoin. Good luck doing anything with that
Haha, Ummm, wut? Did bitcoin get hacked? The protocol got broked?
I control the keys. No one can move the coins but me. If you are uncomfortable with being responsible for the security of your own finances, then by all means, feel free to entrust them to a third party.
1158.
Post 10470360 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
So everyone reading this forum should just believe that a non scalable, irreversible (0 consumer protection), very-easy-to steal, ridiculously volatile, bullshit distributed, china megamines powered pyramid scheme currency is gonna suddenly replace every fiat currency, central bank, need for monetary policy etc?
I think everyone reading this forum should be free to believe whatever they want.
Isn't it wonderful? If you don't like it, you can get the fuck out any time you choose.
Cheers.
1159.
Post 10470456 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
...
Bitcoin at least provides an accurate ledger of who owns what. The current system has hopelessly obfuscated ownership of assets in a cascade of derivatives.
I'm glad that you enjoy knowing that 1LolIStolededURCoinzKthxBai has your Bitcoin. Good luck doing anything with that
Haha, Ummm, wut? Did bitcoin get hacked? The protocol got broked?
I control the keys. No one can move the coins but me. If you are uncomfortable with being responsible for the security of your own finances, then by all means, feel free to entrust them to a third party.
No. Bitcoin doesn't need to be hacked for you to lose your coin. Was Bitcoin hacked when Pirate owned you? When TradeFortress owned you? When MagicalTux owned you? When stamp got pwnt? When this, latest "exchange," allegedly got owned?
But sure, your coin is perfectly secure. Just don't try to use it.
Lol, settle down buddy,
Every single institution you just named
required you to voluntarily hand over control of your bitcoin.
You're getting quite aggressive today. Perhaps it's time for a nap?
1160.
Post 10470533 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
make money or starve to death
That's pretty much the way things work.
You can try to force the ones that make money to pay for the needs of those that don't, but in practice it doesn't turn out well.
1161.
Post 10471078 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.58h):
Could people just stop quoting trolls. Including oldtimers.
I have said it before. We have the trolls we deserve. And it is your fault.
You're right.
I apologize.
1162.
Post 10496383 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.59h):
Get your fiat cannons ready, gentlemen.
Now that virtex closed down, I got no where to fire the fiat cannons,
1163.
Post 10530835 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_13.59h):
I'm new to the forum. I about left to never come back but just realized how much nicer it is later at night after the children/trolls go to bed.
This thread is probably the most liberally trolled and least moderated place on this entire forum.
You should assume that everyone in this thread is talking their own agenda.
That being said, if you can develop a personal filter, or a
"thick skin", this is also a place for some good loolz and some epic gifs.
Price goes up. Price goes down. The wall observer simply exists to bitch and moan about it.
1164.
Post 10572743 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.00h):
I notice that nobody says that the next X minutes/hours are
critical.
Guess the last
critical moments were in 400-300s huh?
Last critical moment for me was trying to get my bids filled at below 250 CAD.
Everything since then is just smooth sailing.
(Btw, everyone who enjoys music should go check out BitTunes. Most exciting project involving bitcoin that I've seen thus far.)
1165.
Post 10597228 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Well that was refreshing!
Nice to see bitcoin still has a pulse.
1166.
Post 10599831 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
What is that x60 faster thing any way? How does it effect the protocol?
Gavin was testing his proposed changes, that include increasing the max block size from 1 MB to 20 MB. He noticed that the nodes were taking too long (hundreds of milliseconds) to validate a block, even when the node had seen all transactions before and thus did not need to validate them again. That wasted time impacted the time needed to propagate a block from node to node. He tweaked and hacked the code until he got
that part of the code to run a lot faster, saving some memory too. That improvement reduced the estimated 1MB-block propagation time, in that easy case, from 600 ms to 10 ms.
Where can one find more info about this?
Gavin tweeted the link to the github page:
https://github.com/bitcoin/bitcoin/pull/5835I can't read code, but this sounds a lot like what he was taking about a few months ago.
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-169-set-reconciliation-and-the-block-with-gavin-andresenHe's always pushing his 20 MB block agenda, which I'm not thrilled about, but faster propagation should mean less stales for miners on smaller pools (like myself) - might make for less advantage to larger pools which would help decentralization...
The entire reason for a ten minute block target in the first place was to allow enough time for the entire network to reach consensus before moving on to the next block.
Like I said, I can't read the code, but it certainly sounds like a pretty big deal.
1167.
Post 10600521 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Also can't read much of code but, larger block size is a GOOd thing. Why? more hashed information per unit block. Not just for bitcoin transactions, but for any information to be stored in a block and validated by the network. Can't you see why this is a good thing? bitcoin blocks can be used for more thanjust bitcoin transactions. good thing in my books.
The blockchain is already what? 30Gigs? 40gigs? That's a lot of storage and a lot of bandwidth. If you were to increase the size of the blocks it will become very costly for individuals to run full nodes, leading to centralization.
Also removes the idea of scarcity in the block. To maintain the incentive for the miners is to maintain the security of the blockchain. Once the reward gets cut down it is imagined that the fees will replace this incentive. Scarcity and an open market fee structure would hopefully provide enough incentive to keep the miners interested.
I'm not fully on the side of either camp just yet, any changes (or stubborn refusal to change) could result in unintended consequences. I'm just saying we should tread lightly.
1168.
Post 10605523 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
there is a serious sale going on at CaVirtex right now. maybe the closing is causing some panic, or maybe people are worried about the ability to sell large quantities anymore afterwards so are taking the hit now ... but the sale is on. lucky if you got some cash on there and are a bull.
I did some arb the other day moving my $ funds to another exchange, and today the arb opportunity is twice as good. I guess alot of poeple are simply cashing out to fiat and withdrawing to their bank account because of the shutdown, i wonder how long these prices are going to last, is it worth wiring more money to virtex... hmm... probably!
Can you still wire money in? Do they take CAD deposits still?
i believe so, it doesn't say its disabled... ill have to try it out later.
From CaVirtex website
Effective immediately, CAVIRTEX intends to cease carrying on an active Bitcoin business and will be winding down its operations in an orderly manner. As a result, effective immediately, no new deposits will be accepted by CAVIRTEX. Trading on CAVIRTEX will be halted effective March 20, 2015. Effective March 25th, 2015, no withdrawals will be processed. CAVIRTEX will communicate with any account holders that continue to hold balances after March 25, 2015.
I would not recommend trying to deposit.
1169.
Post 10607402 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Each step up from here is likely to be met with substantial resistance.
Markets are more plentiful and mature, as are the players.
Sideways with a slight upward incline is my guess, with the inevitable spikes and dips, but nothing like the moonshots and dub-step style drops of the past.
Just a guess of course, this is bitcoin after all, anything can happen.
1170.
Post 10610602 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Obama: If only we could rid the world of the dumbest, greediest criminal element, without harming normal people...
CIA: Mr. President, our secret research labs have finally perfected just such a weapon. We call it ... Bitcoin.
Obama: Hahahahahahahahaha! Make it so!
Obama: Now we only need a name. The creator of Bitcoin, what could it be?
CIA: What are you thinking Mr. President? First thing that comes to your mind.
Obama: Gotta be something hilarious. "So a man took a shit". Make an anagram out of that. Go ahead lol
CIA: mmh... ... "Satoshi Nakamoto"?
Obama: hahaha you are a fucking genius!
Just wanted to quote this bit of comedy for those who might be ignoring these two.
Funniest thing I've seen in ages.
Gotta give credit where it's due.
1171.
Post 10611314 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Lett me get this strait.
lol
1172.
Post 10620169 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Price is only $15 higher than it was at this time last week.
At that rate it will take more than 4 months to reach 500...
Sounds about right
1173.
Post 10624428 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
I thought we were supposed to sell the news???
Oh well, Monday should be interesting...
Btw, can someone post the text behind the pay wall? Thanks.
1174.
Post 10624657 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Jorge should be pleased now that the BIT investors will finally have a way to sell their shares.
1175.
Post 10624692 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Start posting trains.
Moon train? Too soon train?
1176.
Post 10624849 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.01h):
Of course, this being Austria, and the Creditanstalt, aka the bank which failed in 1931 under almost identical circumstances and set off the dominos that led to a global financial crisis which in turn bank fanned the flames of the Great Depression, also being Austrian, suddenly everyone is asking: "what just happened and what happens next?"
1177.
Post 10640644 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.02h):
Counter question: "Why do most people (mostly) trust their governments?"
Now
that is a question worth asking!
Because they chose their government.
but do they really?
Yes, in democratic countries they do. Just because a lot of people on this forum doesn't get it their way doesn't mean that the government isn't chosen through the united democratic will of the people.
Wrong.
I didn't choose this government. I chose an alternative.
In thIs system it doesn't matter what I choose. I get the choice of the mob forced upon me.
The illusion of choice is vital for maintaining control of the population.
1178.
Post 10650687 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.02h):
I went to Somalia because I heard it was a libertarian utopia but all I found was (yet another) failed socialist state.
I have heard rumors of semi-autonomous zones being built on the coast of Honduras
(Sorry, no link, it was just an interview of some guy on some podcast, some time ago, but it definitely peaked my interest.)
1179.
Post 10675832 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.02h):
Sorry, " 97 new replies have been posted. " right... Apparently I should review my post,
but I won't. Thus completely out of context, but, just some short thoughts:
I've been thinking about a change. -not that I don't like where I live, I'm just afraid of my government and the policies of my national neighbors.
So I'm looking to take a trip, to visit some hopeful alternatives, and hoping that bitcoin will be accepted, if not directly, then at least easily exchangeable for local fiat.
And that is what got me thinking... What I really want, is to find a place where as many people as possible understand what bitcoin is about, and go there.
...
Is there such a place already? Or do we need to just build it ourselves?
I guess I'm proposing a 'bitcoin nation' and I'll just leave this post as open invitation to the first nation that not only accepts bitcoin for payment of debt, but also --
This new bitcoin nation must also use only bitcoin to pay government employees, and all departments should have their addresses publicly known. Because they are 'public servants' after all, they should provide proper accounting for all public expenditure.
This is not to say that public employees should not have private salaries, separate from their public expenditures.This could be done by publicly listing the total yearly expenditure on salary, and each employees' total, and just mach up the totals. only the total salary of every public servant should be public knowledge, what they spend it on is their own business. By mixing the outputs to all government employees, you could still know the expected total, without knowing which address is whose.
Ok, not so short thoughts, maybe should clip for a topic, maybe just dumb idea.
So tired. Sleep now.
1180.
Post 10719919 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.03h):
Let's see if that wall at 300 is real.
300 so close now. I remember how excited I was when it was broken the first time...
I hope we either surge right through it, or crash down violently, or both!
Good times
1181.
Post 10744662 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
PS: preliminary support
SC: selling climax
AR: automatic reaction
SC: secondary test
LPS: last point of supply
SOS: sign of strength
Richard Wyckoff wrote numerous times about the power of rising bottoms in a trading range. The story goes that the "composite man" (or the sum action of all professional interests in the stock) begins accumulating after the SC but is willing to play both sides of the market in order to amass an increasing line of stock from the weak hands. As the range plays out, there is decreasing available supply of stock to propel the price downwards, resulting in rising bottoms. Once the supply is dried up, the price will break out of the range and a markup campaign begins, led by the composite man.
^That makes perfect sense to me.^
Will be fun to see how this plays out.
*personally hoping for very slow rise so as to avoid another massive arms race in the mining world, but I really don't see any way around it.
1182.
Post 10755920 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
Letting IBM run a decentralised monetary system for governments is an uphill battle. Because the miners need their incentive. The fight would be between the miners needs, and the central banks control over money issuance. Big problem, no easy solution.
The only reason for the miners is to provide security. The miners get paid accordingly for their efforts.
In a centralized scenario you would not need miners. I would expect IBM to offer the security and reap the rewards. (Hint: The real rewards do not come from issuance or. They come from retaining the ability to be the only ones able to cook the books) IBM could be forced by court order to do anything the gov't wants and they wouldn't even be able to say anything about it.
Btw.
Has anyone made a thread for this specific topic yet?
If so, could I be so lazy as to ask for the link?
If not, could someone please make one?
Thanks.
*edit* wasn't IBM the company in charge of providing the punch card machines to keep track of certain population details in Germany in the forties?? And now they're gonna keep track of your money?
Count me out.
1183.
Post 10771254 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
what do you guys think loaded meant with the post if we are ready for the weekend?
So i guess Loaded meant that he will fuck the price up over the weekend
Or that something always happens at the weekend and loaded is full of shit.
Or perhaps this is just like the ocean pulling back from the shore before the tsunami.
I don't know, feels sketchy to me.
If it falls back to below 300 CAD again I will buy more. For now I just sit and wait for 32,000.
1184.
Post 10775314 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
...
Bots are just stupid. Who need the price to be displayed here. Welcome in my ignore list.
Yeah. I have to agree with you, Chartbuddy is a bit annoying as well.
Though bitcoin going up is good news
Hoping it can hit $300 next week.
Chartbuddy is ignored by so many people here. i have the price displayed all the time on my phone (bitcoin checker) and my computers (bitcoinwisdom), i really don't need to read it here.
Very true. That troll bot is my only ignore.
Sshhhh! He's here!
Anyways I don't really ignore him because I like to see the price updates. Although I can easily go to another website, I spend most of my time posting here so he is at least helpful(well, a bit).
Chart buddy performs a service of time stamping this thread with market prices and movements. When catching up on the thread, seeing the hourly charts helps to give context to the posts.
(Also provides the service of constantly bumping the thread to the top, but that's just a happy coincidence, I'm sure
1185.
Post 10784436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
good time to short.
Do it, jump on the OKCoin casino and go all in short 20x. Sure thing right?
already did on bitfinex in 295 range few days ago...
Surprised you still have coins to sell, been short all the way up
When you go short, don't you just borrow the coins? Shouldn't need any coins to sell.
Also, question for tarmi: don't you pay daily fee for holding an open position with your borrowed coins? After a "few days" doesn't that start to erode any profits you might make?
Lastly, don't you have to buy those coins back at some point to close your position? Why didn't you close already at 285 or lower? Are you that confident? That greedy? What is your target?
1186.
Post 10784478 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
I am not telling you my target and yes I am confident. so confident that I am ready to add more to my position if it comes to it.
I am paying very low interest on borrowed coins. 10 times less than the ones who borrowed cash.
Fair enough. Thanks.
1187.
Post 10786696 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.04h):
Governments realise now crypto is here to stay now they have to regulate them rather than ignoring them or banning them,This is in the medium term will give btc a lift
First they ignore you, then they laugh at you, then they regulate you, then
they win.
Also attempting to regulate the internet through the guise of "net neutrality"
These guys don't know how to quit. They won't stop until they have complete control.
1188.
Post 10799993 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.05h):
From the article:
Rakuten is looking to expand overseas and Tuesday's (17 March) move will see the firm join a growing number of online retail leaders, like Amazon.com and travel agency Expedia, in accepting the digital currency.
Apparently I missed the Amazon news
1189.
Post 10810826 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.05h):
Quite the wake up call - coincides nicely with the mid-month paycheck.
If we could all just panic and drag the price down to 250 or lower, that'd be great, thanks.
1190.
Post 10828466 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.05h):
As low as possible for as long as possible actually works for me. I ain't even mad
Amen, fist bump!
1191.
Post 10837318 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.05h):
"Who do you trust more, your own central bank or an anonymous online network?”
Hmmm... Should I trust a privately owned central bank where the identities of the owners are not disclosed? Where meetings are held behind closed doors under cover of secrecy?
Or should I trust a distributed, open-source, transparent network where everything is done out in the open and can be vetted and audited by anyone?
... tough choice.
1192.
Post 10844961 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
So flat. Apparently bears like it fine at 260?
Where's the dump?
1193.
Post 10845881 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
I'm not an expert but does anyone else observes a pennant? I calculate about 2 more hours till it closes. Up or down, I really can't tell.
I don't like your upper line, your pennant looks very much like we're going down to me
so I drew a new one
Not likely but if the price could break and hold above 265, we might make another try for 300... (I'd give this only a 20% chance of happening / 80% chance we'll get real flat on low volume and then a big dump out of nowhere, like usual
)
1194.
Post 10852656 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
Creeping upwards...
It feels like the middle section of the song where the music gets all minimalist in anticipation of the drop.
The recent vehemence and desperation of the troll posts leads me to think otherwise.
1195.
Post 10852744 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
...
It feels like the middle section of the song where the music gets all minimalist in anticipation of the drop.
...
If by "drop" you mean "dump."
Yes. Massive fiat dump!
Not likely but if the price could break and hold above 265, we might make another try for 300...
1196.
Post 10852956 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
Wall at 267.7 getting nibbled
Edit- nm, gone already. Now just looking like a stairway up and up and up
1197.
Post 10853477 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
just another dead cat bounce
Now
that's a proper bitcoin bounce.
1198.
Post 10879559 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.06h):
wait till the middle of the night in the u.s , slam the market with 3000 coins in 5 minutes = guaranteed carnage ... sure is fun watching $$$ burn ... $850,000,000 worth of market cap devaluation in 5 days time ... if you all can destroy a billion $$$ in value in a week i think there's a trophy for that ...
Yeah, destroying wealth is hilarious.
Believing that market valuation is wealth is hilarious.
No bitcoins are actually being destroyed here, they are just changing owners.
1199.
Post 10888070 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
I wish someone would create a thread where we discuss Bitcoin price movement.
I wish bitcoin price would move so we could discuss it...
1200.
Post 10901322 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
Unfortunately its almost looks exactly like the last fake bottom @275 into the fail attempto to break 450. The further decline is most likely scenario at this point.
Ouch, that is unfortunate! I opened a long position last night at 245
I thought it looked like a nice firm bottom, not a saggy, droopy, fake one.
Where's all the
real bottoms at
1201.
Post 10908916 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
Woohoo! Finally,
Should I just close my long and wait for the price to drop and then open a new one?
1202.
Post 10909034 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
It's a trap........
Hope you're right, just exited and went short
(I'm such a degenerate gambler)
1203.
Post 10912482 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
I actually want this DOOOOOOOOOM.
Bring me my fucking DOOOOOOOOM.
Make it shnappy and make me happy
Where do we place our orders? I'd like an extra-large helping of DOOOOOOOOOM with FUD sauce and a side order of PANIC!!!
1204.
Post 10916675 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
Wheeeeeeeeee!
Think we can finally break down below 250?
Oops. Never mind. (That was quick)
.. ok, liquidated my shorts, not sure yet if I want to go long again or not.
1205.
Post 10920515 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
1206.
Post 10923172 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
Patience broskis. Next week will be dumpy.
There is NO real evidence to establish that BTC prices are going below $240s. I am NOT saying that it will NOT happen, but seems more likely that we will get either sideways or up, rather than downward BTC price movement.
What's the real evidence for sideways or up, in contrast to the non-real evidence for down?
50 paragraphs or less, please.LOL!
1207.
Post 10923587 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
Every trader is aware of bear flags. Volume tells the whole story, though, and the second flag has quite a lot more going on in that regard if you zoom in.
Anyone want to take a crack at it?
I'm not a trader, but I'd like to submit a guess?
Am I close? Or just being hopeful?
1208.
Post 10926755 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.07h):
I could not get all the charts in the same scale for a proper comparison, but my impression is that the large sudden swings still come from the Chinese exchanges, OKCoin or perhaps Huobi. In particular, those sharp drops that are immediately reversed seem to be deeper at OKCoin than in the other exchanges. I could understand them as someone dumping a lot of BTC at OKCoin, and arbitragers then transferring those coins to the other exchanges, where they cause smaller dips. Does it make sense?
Sure, why not? Bitcoin allows for some very efficient arbitrage, as long as you keep a ton of fiat in your accounts. You can top up or redistribute your bitcoin balances in minutes, but it could take up to a week or more to replenish your fiat.
1209.
Post 10946996 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
1210.
Post 10947323 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
This guy is a moron. Wealth doesn't come from nowhere. If the Bank of Canada creates money out of nothing to finance public works (or anything really), that wealth is taken out of the pockets of everyone who saves in Canadian dollars. This is why counterfeiting is illegal. If this guy wins his case, there is a mountain of money to be made shorting the loony.
"That guy" is not a moron. He is a lawyer being paid to file a lawsuit. Apparently the government tried to get the case dismissed twice, and couldn't.
https://youtu.be/q0IUl2UMwt4?t=20s^Even a 12 year old girl knows the current system is a scam.
And if counterfeiting is illegal for our government, why is it ok for private bankers?
Do you even understand the words that
are coming out of your mouth you are typing?
1211.
Post 10955235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
Are avatar uploads actually allowed? Or is Theymos just handing out random avatars for April fool's?
1212.
Post 10958412 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
Firework time!!
Is this another pre-dump pump?
1213.
Post 10966519 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
OMFG bring back the newbie prison already!
A better alternative is Pay Per Account (PPA). Under the PPA model, traced by IP (or browser fingerprint), your first account is free. Your second a marginal cost, say $5 USD. Your third? $50 USD. Fourth? How about $500. Just increase the cost by a factor of ten for each account thereafter.
Won't work. Too easy to spoof. Internet likes to find ways around attempts at censorship.
1214.
Post 10966746 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
Is it just me? Or does $250 in 2015 feel a lot like $5 in 2012?
1215.
Post 10971849 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
LOL stolfi. Thank you for your pathetic attempts to provide imaginary "what if" scenarios for made up DOOOOOOOM, but we are growing impatient for the real thing.
Fuck the eyebrow indeed!
1216.
Post 10972448 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
Shorts up to 24541.
Hmm.
Swap interest rate on shorts up to 0.07% per day, long swap interest down to 0.094%
Wait a minute, you telling me I could loan out a couple hundred coins and be making .14 per day?
That's more than I make from mining! What's the catch? Where's the risk?
1217.
Post 10973385 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.08h):
Shorts up to 24541.
Hmm.
Swap interest rate on shorts up to 0.07% per day, long swap interest down to 0.094%
Wait a minute, you telling me I could loan out a couple hundred coins and be making .14 per day?
That's more than I make from mining! What's the catch? Where's the risk?
You'd have to trust leaving those coins on an exchange.
You're right of course. I was thinking out loud trying to figure some kind of price on that risk, to calculate if it's worth it. I don't know how to figure that number mathematically but I can make an estimate anecdotally...
So if I consider this in the same way I consider buying pre order mining rigs, it's like an all or nothing bet. I consider the money gone, then I consider how long to make it back (if the bet pays off and the hardware actually gets shipped - or, in this case, the exchange doesn't run off with my coins)
If you could consistently get 0.1% it would 1000 days to double your money. In a mining deal, I would expect to double my money in the first year at minimum.
Conclusion? Fair price for loans is 0.3 % daily.
1218.
Post 10988663 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.09h):
Well that was a pleasant way to wake up in the morning!
Price had been flat so long I had nearly forgotten what my alarms sounded like.
260 albeit briefly is better than a kick in the nuts
1219.
Post 11019059 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.09h):
Hmm, not panicky enough. Need a proper dump to 230 at least to force sub 300 CAD.
Support at 240-245 range seems substantial, but not insurmountable.
Keep selling! You can do it! To the floor!
1220.
Post 11037823 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Does anyone else think that arrow image looks like a giant cock?
Nothing like a coin being up-front, I find that refreshing.
Please stay on-topic, this is neither the alt-coin forum, nor the place for jokes of any sort
Watch the fucking wall and tell us what you see ...
Damn ... they got some dumb '6 minute between post' rule for us reprobates. How we supposed to talk like that. I thought the internet had made progress with communicataion. Imagine if you had to wait 6 minutes between comments on the phone. Probably got the idea from the blockchain confo time
Don't wait, just create a new account every time you want to post.
I've seen it in action, it works!
1221.
Post 11038497 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Facebook Pay, Microsoft Pay, Google Wallet, Samsung Pay, Apple Pay...
Where's MA BITCOIN Pay ? Huh
Typical list of the usual suspects,
From:
http://www.theverge.com/2013/6/6/4403868/nsa-fbi-mine-data-apple-google-facebook-microsoft-others-prism"The program, codenamed PRISM, is considered highly classified and has never been made public before. The list of companies involved are the who's who of Silicon Valley:
Microsoft, Yahoo,
Google,
Facebook, PalTalk, AOL,
Skype,
YouTube, and
Apple."
(YouTube and Skype are also bolded as they are now part of Google and Microsoft respectively)
All these pay systems will accept bitcoin eventually anyways, they're just building up the infrastructure.
For all the purchases you would like the government to know about, there's bitcoin. For everything else, there's Monero.
1222.
Post 11038643 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
By the way, I just ran numbers again, Even if I were paying $0.10 per kWh I'd still be breaking even at 150 per coin.
Long term I expect the price of the coin to always tend towards the cost of mining, with some wild fluctuations along the way.
I think any price below 300 CAD is a buying opportunity, but I'm just saying don't be surprised if the price falls back below 200 USD before the end of summer.
1223.
Post 11038792 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
By the way, I just ran numbers again, Even if I were paying $0.10 per kWh I'd still be breaking even at 150 per coin.
Sounds like pretty efficient (new) gear.
Old gear, paid for it in January 2014, didn't arrive till much later of course, but efficient for sure.
1224.
Post 11038903 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
For all the purchases you would like the government to know about, there's
bitcoin XMR.TO. For everything
else, there's Monero.
It would be a nice dream, but I think when you try to buy anything substantial (real estate) they are gonna ask where you got the money, and I don't think XMR.TO is gonna cut it.
1225.
Post 11039013 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
For all the purchases you would like the government to know about, there's
bitcoin XMR.TO. For everything
else, there's Monero.
It would be a nice dream, but I think when you try to buy anything substantial (real estate) they are gonna ask where you got the money, and I don't think XMR.TO is gonna cut it.
Really I think they will be so greedy to get their cut via capital gains tax or whatever they dream up next that my coins will be acceptable regardless of how many exchanges they've been through.
Oh the coins will be accepted, just as they have already set a precedent for auctioning off ill gotten gains already. I'm just saying if you can't prove where you got the money from, you're gonna be wearing an ankle bracelet.
( just remember, it's all about control )
1226.
Post 11039238 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
[...]
this would be a no brainer BUY if only it wasn't for the possible of a good long squeeze...
Last squeeze got to 166? Or around there, next squeeze could be close, might only reach 180 or so...
Either way, 160 or 240, if this thing doesn't fail, these prices will make you get grey hair in your 30's like me, selling at 5 dollars, 15 dollars, 50 dollars etc...
As always, simultaneously the chance of a lifetime and a fool's gamble, both at the same time.
1227.
Post 11039595 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
I must not doom. Doom is the mind-killer. Doom is the little-death that brings total obliteration. I will face my doom. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the doom has gone there will be nothing. Only I will remain.
Seriously gentleman, prepare for doom at all times. Once you know your doom, once you understand doom, --only then can you conquer doom.
Doom is coming, doom is always one step away, once you understand the nature of doom, only then can you conquer it.
BRING ON THE DOOOOOOOOM!!!!!!!
1228.
Post 11050089 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Crave scam was obvious.
I'm skeptical that any of these pos coins will ever work out.
1229.
Post 11050331 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Finex making a run for $240?
Just reestablishing the standard btc-e +$5 level....
I could be wrong but the profit margin for mining tells me we need to go lower still. 200? 180 maybe?
1230.
Post 11050791 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
This thing is taking a fall into the abyss either tonight or in 4-5 days. This is what happens when new money stops liking bitcoin as a speculative tool.
I disagree. I think we're going to stay around the 200-270 range until the end of the year. Maybe longer. There's so much in the works right now to help support the economy. It's going to be interesting seeing how things pan out in 2016+
I think you may be right, stagnation throughout 2015 is possible.
Disclosure: I've been hedging my bitcoin risk with Monero.
1231.
Post 11058703 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Why u gotta break my heart bitcoin why. I need ur pumps.
Patience.
Lots of patience.
I think it's better this way actually, price stays low enough that anyone getting in right now won't get hurt to bad if this thing doesn't work out. Also gives more time to accumulate just in case it does work out.
"As low as possible for as long as possible." <- beware that there is a non-zero chance that bitcoin never succeeds.
Just think of bitcoin like a lottery ticket. If you would be in financial peril if the price went to zero, you should reconsider your risk exposure.
Sorry for doom and gloom, but I think it's important to recognize the risks when considering the potential.
1232.
Post 11058904 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Actually the possibility for it to fail completely, is equal to the possibility to become the World Currency. In between though, there's a great chance that the science behind it, will actually work. This has nothing to do with a price tag vs $US or Euro, this is fundamentally based in the idea that the World needs a better way to trade. A more sane, just and transparent way.
This is what's at stake... and I think it has a great chance to succeed in doing just that.
So long as you consider that the current system was born in secrecy and depends on opacity for its continued existence.
"The ones that wield power would not give up that power without bringing all of the tools at their command to bear. They have struggled to achieve and maintain their power for generations. To think that they would relinquish their status without a fight would be foolhardy."
Regulation and censorship of the internet through the proposed "net neutrality" legislations is just the tip of the iceberg.
It's ok to hope for the best, as long as you prepare for the worst.
1233.
Post 11059952 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
It seems like bitcoin price is achieving that apparent "stability" that so many people outside the bitcoin sphere said that it needed to gain acceptance.
Too bad they can't see it for what it is... oh well, no matter, those that choose to ignore the future will be doomed to wallow in the past.
1234.
Post 11060207 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
...
...
...
My view is that the states should be able to set policies, giving an opportunity for a diversity of arrangements. The one sure thing is that managing all 50 states from washington DC is folly. Some states have their own low income safety net plans, which are largely covered by the taxpayers. There is also welfare and housing, child benefits.
If you don't like the state you are in? Moving is not incredibly difficult. Like a free market of at least some govt policies.
I understand. But you make it sound easy to uproot and move to a new home. I believe that if you'd experienced true poverty and hardship personally then you'd have a broader perspective.
I feel that the US would be better served by establishing consensus, looking to its peers and indeed population for critical counsel rather than unquestioning loyalty. Expecting people to move to a State they like based on its own volatile interpretation of the apparently holy and untouchable Constitution is somewhat unrealistic in my opinion.
Ex-patriation from the U.S. is an increasingly popular option.
http://www.forbes.com/sites/kellyphillipserb/2013/08/11/irs-releases-list-of-americans-hoping-to-expatriate-number-tops-1000/Seems like people are voting with their feet. It's unfortunate that the federal gov't is trying to limit the exodus by increasing the toll, thus screwing the poor once again, but since when have they ever cared about the poor?
http://dailycaller.com/2014/08/29/us-quadruples-expat-fee-as-record-numbers-of-americans-renounce-citizenship/It's becoming obvious, the collapse is near.
1235.
Post 11060288 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
It's becoming obvious, the collapse is near.
I don't disagree with you. What was bad in 08 got printed into worse. It won't be an isolated event, however.
Not isolated for certain. Nearly all countries are complicit in the fiat money scam.
Interesting times.
1236.
Post 11064553 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.10h):
Was reading up on Mycelium's Bitcoincard and found this article on their site by Erik Voorhees. Stuff most of us may know but it's the first time I've read it and I think it's a great, concise explanation of BTC- especially for those uninitiated...
http://bitcoincard.org/movement.phpAt the time of this writing, this price is about $4.80 each.
Ahh, those were the days...
1237.
Post 11064707 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Does anyone else find it ironic that some people refer to a distributed transparent ledger as a pyramid scheme while making no mention at all of the current debt-based, fractional reserve lending system?
1238.
Post 11064839 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Does anyone else find it ironic that some people refer to a distributed transparent ledger as a pyramid scheme while making no mention at all of the current debt-based, fractional reserve lending system?
What makes the current system pyramid like?
When every dollar comes into existence with interest attached there will never be enough money to pay back the debt + interest. Thus necessitating the creation of more money and more debt to allow the system to continue.
They even put the symbol of the pyramid on the fucking bills it's so obvious.
1239.
Post 11064886 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
But let's imagine that bitcoin was somehow made truly transparent. How would that make it any less of a pyramid scheme?
Bitcoins are distributed without interest. When 25 bitcoin are created and distributed each block, the recipient does not owe 25+ X%
1240.
Post 11065015 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
But let's imagine that bitcoin was somehow made truly transparent. How would that make it any less of a pyramid scheme?
Bitcoins are distributed without interest. When 25 bitcoin are created and distributed each block, the recipient does not owe 25+ X%
well... sure. But not sure why bitcoin being created out of thin air and wasted electricity is any different from usd being created out of thin air and ragpaper?
When the FED prints more dollars, I don't owe them anything either.
Please explain
You think you don't owe?
http://www.wsj.com/articles/BL-REB-30526Currently, the government’s interest costs are around $200 billion a year
1241.
Post 11069052 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
People dont like the BF because "power". But bitcoin wont survive without some sort of intelligent benign leadership. But this leadership will have "power", and people wont like that... Rinse, Repeat.
You either have cake, or you eat cake. Until people get that into their heads, bitcoin will have some tough times ahead..
You obviously haven't followed Bitcoin development on GitHub. There is a " intelligent benign leadership" very much in place, and it has nothing to do with BF. Developers with Gavin as head wouldn't listen to BF if they think something BF is pushing is not good for Bitcoin.
All people who's influence on development is significant are employed by large Bitcoin startups, and are very much interested for Bitcoin to succeed so those startups get to successful IPOs when they would monetize their role as core developers. There are no better guardians of Bitcoins then these group of guys, and they can do very well without Bitcoin Foundation, thank you very much.
Good point.
The alignment of incentives was necessary for bootstrapping the network and will remain vital in keeping the experiment going.
1242.
Post 11081260 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Lots of gloomy sentiment. Lots more to come perhaps. Never forget the long wait of 2012.
Sometimes I think the best thing would be for Satoshi to just dump all his coins right now, take us back to double, maybe single digits and really test the limits of this market.
It would allow for a great re-distribution. Also, the pressure on the miners would allow all sorts of other doomsday scenarios to be tested... what might happen when mining becomes unprofitable? When 51% attacks become feasible? Maybe even trivial?
If we could test these failure modes earlier rather than later we could prove or disprove the validity of the experiment. Either the whole thing would fail, or survive despite the worst case scenario.
Either way it would provide some kind of certainty...
I guess I'm just curious to learn the outcome of this grand experiment of decentralized money.
1243.
Post 11090736 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
It's over? Already? That's it?
If we don't even break below 200 I will be greatly disappointed.
1244.
Post 11093561 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
https://www.bityes.comAnyone heard of this bit yes? Is it just a re direct to huobi? Is it a spin off to attract more western audience? Is it a scam?
Lol, I don't know wtf it is, but it's very colorful, makes me want to sign up...
1245.
Post 11102315 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Why do I get the feeling that everyone on this thread is an obsessive gambler, but no one ever wants to be truly wealthy?
For all the fkn around with bitcoin you guys do day trading (and mostly losing), I could have pointed you to at least 5 stocks that in 2014 would have doubled your money going long and holding.
I bolded the part that pertains to me.
I sold hundreds of coins at five bucks, and I felt great. Even when price started moving up to 50 bucks I thought "this is awesome, I'm gonna be rich!"
But when the price got to a thousand, I just felt nervous and scared. People that were only casual acquaintances started trying to become much more "friendly". One of my co-workers even made the comment that he could hack my private keys with a crowbar. (He said he was joking)
If bitcoin goes up at the expense of a dollar collapse, you might be surprised at how desperate people can get.
(*NOTE* I've since lost all my bitcoin in a boating accident. I'm just sticking around for curiosity)
1246.
Post 11102374 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Bitcoin only had a $9B market cap at it's peak. That wasn't even enough wealth to attract Wall Street. Bitcoin holders are a long way from "truly wealthy" by their standards.
That is somewhat comforting and disconcerting at the same time...
I suppose the "truly wealthy" will still have their estates and security guards and such and if things get bad the poor suckers holding bitcoins will just be targets.
(Edit- good thing bitcoin it's gonna crash to zero. And just in case it doesn't, I'm gonna buy extras for all my friends... You know, just in case...)
1247.
Post 11111347 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Hey, Bitcoiners!
The 80s called, they want their disruptive technology back!
ba dum chhh!
What a kick ass rig!
A floppy drive? And a modem!?
All my lousy parents could get me was a Vic 20 with a tape drive.
Took over ten minutes just to load Zaxxon...
My buddy had a C64 though, used to go over to his house all the time to play choplifter.
1248.
Post 11111436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Sooooo, how long do I have to wait for the dump so's I can get some bids filled around here?
Looking for 250 CAD which would require around 180 USD I figure...
Still waiting for doooooom.........
1249.
Post 11122521 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Well, isn't that cute. First wall I ever remember seeing at coinbase.
Was non-existent just a few short hours ago... Not sure if bullish.
1250.
Post 11126674 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
It's a fluff piece, blatant native advertising.
But I agree that low prices are good. "As low as possible for as long as possible"
1251.
Post 11127728 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
<snip>
I'm not convinced. How low are we talking here?
Double digits!
Can you believe your luck?
How low? I don't know. I'm just preparing mentally for the fact that the price could re-test 166, perhaps even break through that support and then, who knows?
Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.
-----
I used to always say that phrase "low as possible, long as possible" with the assumption that bitcoin will someday, ultimately succeed, resulting in a price well over 10,000 dollars. I'm not as confident that that is a safe assumption anymore, but, at the right price, I still think it's a good bet.
For example, let's say price hits 100 dollars. I still think there's a 50-50 chance it will either go to zero or bounce back to 200. That would be even money if those were the only two possible outcomes, but they are not. Zero is indeed the absolute bottom, but if it were to bounce back to 200 there is no reason it couldn't continue to 300 or 400 etc...
The fact that the downside risk is limited, but the upside is unlimited is the reason I continue to hold on.
1252.
Post 11127761 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.11h):
Interesting that the bidsum increasing $1.6m on coinbase happened at the same time as 5k new btc asks
That would indicate to me that *someone* is trying to act as a market maker, provide liquidity on both sides and profit from the spread.
1253.
Post 11129353 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
...........
A troll aimed at a Canadian audience? Are we waiting for Canadians to dump?
I missed what reflux might have said, but if you're trying to troll Canadians and your post isn't "hockey sucks and Tim Horton's tastes like crap!" then you're doing it wrong.
1254.
Post 11129484 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.
I think that is possible, if:
* The BIT fund fails to attract substantial new investment
* The COIN ETF is not approved, or its demand is limited too
* Usage for e-commerce does not explode
* There is no boom in new markets (India, Africa, Latin America)
* China abandons bitcoin completely
I am increasingly convinced that Chinese demand created both 2013 bubbles (not only the October-November one, but also the January-April one). Therefore, I would guess that, if China pulls out and nothing else takes its place, the price could return to the levels of late 2012, namely ~15 $/BTC.
The price may also drop significantly if there is some event that destroys confidence in the coin among the more technical users, such as a serious flaw in the algorithms or incentives, a wave of coin theft, new stifling regulation in the US and Europe, etc.
I was thinking more of some kind of outliers like "what if the twins get shot down in their attempts to set up the ETF and just give up and dump their coins" or other crazy stuff...
The
most likely failure mode I could think of right now is just to continue down the road of regulation. The transparency of the bitcoin ledger is both its strength and its weakness. For bitcoin to be truly fungible is currently dependant on the whim of the government. Without legislation that enforces legal fungibility (which is already in place for cash, so at least there is a precedent) I think bitcoin faces some serious problems.
On the other hand, if the public at large would finally become fed up with the obvious corruption and collusion between state and corporation and demand transparent governance, then a new system which separates the marriage of money and state might evolve from the ashes and perhaps we could move on to a new golden era of freedom and innovation...
Yeah, I know, fat chance of that happening.
(BTW, I like the new avatar, much better than the others, I think you should keep that one)
1255.
Post 11129585 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
[ ... ] perhaps we could move on to a new golden era of freedom and innovation...
Yeah, I know, fat chance of that happening.
We're already there, see my sig.
Until we force our government to use a Blockchain like system where all government funding through taxation and expenditure for civil servants and projects is fully transparent and accountable, I don't think we are quite there yet...
1256.
Post 11129806 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
That coinbase has some nice buy support. Not sure I've ever seen that much depth in coinbase's orderbook before.
Thanks for the chart. As they say "liquidity begets liquidity".
If I were the skeptical type, I would speculate that this is coinbase using some of their recent funding in an attempt to lure more volume trading on their platform.
If I were the more conspiratorial type, I might suggest this is just fake walls...
1257.
Post 11129868 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Seriously, what is your motivation, sir?
Seriously, the original motivation was what I wrote above. (I have been doing a similar public crusade against all-digital voting for over 10 years, for example. I see such things as being part of my job.)
At this point, it is mostly the "sunken cost fallacy": I have spent so much time reading and analyzing this topic that I cannot just stop and go waste time on something else. I'd better watch the movie to the end. Plus, there are still some interesting questions and analyses that I can play with.
Personally, I think the fact that even the biggest skeptics and detractors of bitcoin are still (after the longest bear market in history) compelled to watch this market incessantly speaks volumes of the underlying potential of this technology.
1258.
Post 11129992 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
so you agree it is not a get-rich-quick now?
It doesn't look much like one now, does it? But there are still people trying to sell it as such...
you look terrible btw.
I gather that my previous avatars left some people intimidated and profoundly disturbed by the strength of character that emanated from my majestic beauty. I was compared to Jimbo Wales, none less. I hope that you can bear to gaze upon this one without shuddering in awe.
Seriously. Is this your motivation to reasearch (I know you do your homework) and express yourself so actively on bitcointalk and reddit? Here is your own words about your motivation:
"Actually, at first I was worried about attempts to sell bitcoin around these parts as
hedge against inflation, get-filthy-rich-quick schema, etc.. But thankfully my Country does not seem to need my services in that matter: Brazilians do not seem to be much interested in bitcoin, and you bitcoiners are already doing a great job at saving the world from yourselves."
Why would you need a hedge against inflation when the government is doing such a great job and everything's fine?
The inflation rate in Brazil was recorded at 8.13 percent in March of 2015. Inflation Rate in Brazil averaged 386.20 percent from 1980 until 2015, reaching an all time high of 6821.31 percent in April of 1990
Source:
http://www.tradingeconomics.com/brazil/inflation-cpi
1259.
Post 11130591 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Why would you need a hedge against inflation when the government is doing such a great job and everything's fine?
The inflation rate in Brazil was recorded at 8.13 percent in March of 2015.
That's inflation (specifically, consumer price index increase) in March extrapolated for the whole year. It is still less than the nominal inflation of bitcoin (~9%/year) and MUCH less than the actual change in consumer price index of bitcoin (135%/year in 2014).
Inflation Rate in Brazil averaged 386.20 percent from 1980 until 2015, reaching an all time high of 6821.31 percent in April of 1990
Right, but who was complaining about cherry-picking time windows? Since the irresponsible profligate demagogical Keynesian socialists came to power in 2003, inflation has been around 5%/year. Did I say that it was less than bitcoin's nominal inflation of 9%/year?
But the past performance is not the real problem. The problem with bitcoin is that it is a ticket to a lottery with unknown prizes and odds. There is no way of even assigning rough probabilities to its value next month being in any range whatsoever. It may go to zero in a few days, it may go "to the moon", who knows.
What we do know is that the Top Experts in bitcoin have not the foggiest idea of what the price will do, either. And what I have learned so far tells me that each of the past bubbles were caused by distinct sources of demand that are already exhausted; so the occurrence of a future larger bubble depends on another source of demand with greater magnitude -- which no one can tell whether or when it will appear.
Therefore, selling bitcoin as a hedge against anything, or as good investment, is scamming, pure and simple. Trying to sell it to the Third World poor, by telling them that it will make them rich, is a crime against humanity. If you need another million fools to buy your coins and pay for your Lamborghinis, at least look for them among the wealthy, thank you.
I do not wish to sell bitcoin to anyone. In fact I'd rather that the price stay as low as possible for as long as possible, thank you very much.
I simply think that if you are earning negative interest rates, or suffering from double-digit average inflation, you might want to consider an alternative.
BTW, inflation rate of bitcoin is going to be cut in half in a couple years. I know this with relative certainty. How certain are you of the inflation rate of the real in two years hence?
1260.
Post 11130796 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
I sense that a lot of people want in or want to expand their holdings - but the fear of a sudden dump, coming from nowhere, holds them back. Bullish!
I sense that this new bid wall at coinbase (which was non-existent last night, btw) means that some one, or some group, is afraid the price might go lower...
Otherwise, if I were looking to actually buy mass amounts, I would not publicly advertise such a wall. I would try to buy on the down low and would very much welcome, or rather encourage, a drop below 220.
Last night's increase in bid depth on both sides has all the trappings of an exchange that is lacking in both volume and customers.
If coinbase could offer some serious liquidity, it might entice some customers to endure their excessive kyc compliance requirements..
(* in fact,
it's possible those walls might have been put up specifically to lure some people who would like to take advantage of an arbitrage opportunity to fork over their personal information to create a coinbase account. I don't want to be responsible for libel so I won't comment on the possibility that coinbase is now operating as a bitcoin money-laundering honeypot... )I'd like to make it clear I'm not saying anything other than that I found it curious that the bid and ask depth at coinbase increased by approximately 1.5 million dollars and 5000 bitcoin respectively overnight last night.
1261.
Post 11130898 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
I sense that a lot of people want in or want to expand their holdings - but the fear of a sudden dump, coming from nowhere, holds them back. Bullish!
I sense that this new bid wall at coinbase (which was non-existent last night, btw) means that some one, or some group, is afraid the price might go lower...
Otherwise, if I were looking to actually buy mass amounts, I would not publicly advertise such a wall. I would try to buy on the down low and would very much welcome, or rather encourage, a drop below 220.
Last night's increase in bid depth on both sides has all the trappings of an exchange that is lacking in both volume and customers.
If coinbase could offer some serious liquidity, it might entice some customers to endure their excessive kyc compliance requirements..
(* in fact, it's possible those walls might have been put up specifically to lure some people who would like to take advantage of an arbitrage opportunity to fork over their personal information to create a coinbase account. I don't want to be responsible for libel so I won't comment on the possibility that coinbase is now operating as a bitcoin money-laundering honeypot...
)
Do not overestimate the power of registered bids/asks on exchanges. They are vital for an exchange to work. Yet, the power is in the hands of people meeting their offers.
Right. And if I had a struggling exchange I would never consider fudging the books to make it seem like there was extra liquidity or volume on my privately controlled, off-chain database. Cuz that kind of thing never happens in bitcoin land....
(Ok, I'll shut up with the conspiratorial bullshit now)
1262.
Post 11131054 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Unfortunately, that is precisely the kind of market movement I suspect the recent bid depth (on both sides mind you) at coinbase is designed to prevent.
1263.
Post 11139141 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
All that bid depth go from coinbase to finex, or what?
1264.
Post 11139793 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Hmmm, late late Sunday night mini-pump under way?
Could be a precursor for Norway's prediction?
Nah, that was a long shot all along, most likely more sideways until the end of summer.
1265.
Post 11139889 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
I'll leave the rest to your imagination.
kinda textbook...
Yeah, but a sucker is born every minute.
Some times when you're looking at bottoms the old phrase must be remembered...
"good from far, but far from good"
Zoom out and the picture of the last month looks quite different.
Of course you can cherry pick any time frame you like that fits your narrative.
1266.
Post 11139930 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Whomever is cleaning this up, thank-you. It's about goddamn time.
No shit!
All I'm seeing is a bunch of people that were crying for more moderation are now crying that they are being moderated.
I expect similar reaction from the crowd that promotes the idea that bitcoin needs regulation in order for mass adoption...
1267.
Post 11139987 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
My narrative was "boobs".
Ahh, I see it now.
Perhaps next time an overlay would help? Something like
I wonder how long before this one gets removed?
1268.
Post 11191017 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
Why you get-rich-quick-hipsters don't buy more bitcoins? We need a bigger bull trap.
they don't have any usd left
Careful now...
1269.
Post 11191204 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
i'm convinced by your random doodles im buyin now
Careful with that too!
Doodles can be misleading!
1270.
Post 11191932 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
12h PSAR flipped to bearish on Bitfinex and BTC-E and very close to flip on Bitstamp and BTCChina.
Sometimes, when it looks too bearish, it's actually bullish.
Just sayin'
1271.
Post 11192013 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.12h):
12h PSAR flipped to bearish on Bitfinex and BTC-E and very close to flip on Bitstamp and BTCChina.
Sometimes, when it looks too bearish, it's actually bullish.
Just sayin'
And we see it 225$ but it's actually 255$? Or do I get wrong? Where's the bullish trend here?
I'm just saying that you should be cautious when the charts look like they be setting up for a move.
See Tzupy's sig for more details...
1272.
Post 11216281 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
my alarms are going absolutely bonkers. Btc-e it's out of control...
What fun!
1273.
Post 11248865 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
ATTENTION BITCOIN PURISTS!!!
http://www.zerohedge.com/news/2015-04-30/first-blythe-masters-now-goldman-investing-bitcoinThe bad news is that any hopes and aspirations of making a libertarian statement against the status quo by transacting with a monetary medium that now has the full backing and endorsement not only of the biggest commercial banks, but the Fed itself, is now history.
Oh noes!! Bitcoin doomed!
* seriously though, one could get almost
500 463 Monero per bitcoin right now, if one was so inclined...
** edited for accuracy
1274.
Post 11253514 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
along with the emergence of many new Bitcoin startups that will be fostered by the state.
- I, for one, welcome our new Chinese overlords.
1275.
Post 11266864 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
As refreshing as it is to read these pages "sans tarmi" -- this relentless rise in price is somewhat troublesome for me. I was hoping to have another chance at sub-250 CAD.
Perhaps this post will jinx it all and I might have my wish?
"As low as possible for as long as possible"
1276.
Post 11266973 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
As refreshing as it is to read these pages "sans tarmi" -- this relentless rise in price is somewhat troublesome for me. I was hoping to have another chance at sub-250 CAD.
Perhaps this post will jinx it all and I might have my wish?
"As low as possible for as long as possible"
1 month ago the price was higher
2 months ago the price was higher
3 months ago the price was the same
Does that make you feel better?
4 months ago I was able to buy at 220 CAD...
THAT would make me feel better!
1277.
Post 11267102 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
...
4 months ago I was able to buy at 220 CAD...
THAT would make me feel better!
Don't blame you for wanting lower prices - anyone buying now has got to be crazy (prob'ly why no one is
)
Weak bro,
C'mon lamb chop! Step your game up! I've got bids that need filling!
1278.
Post 11267294 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Not feeling it lately--place is just too frickin' depressing,
1279.
Post 11267445 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
People are bullish all of a sudden?
Bullish might be too strong a term, impatient maybe?
1280.
Post 11267654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
What volume are we talking about? about 20? 50? a 100 per day? If it were more, believe me this would have been able to make a difference globally. To present a perspective, the last $20 pump was caused into BTCe, an exchange that has a daily volume of about 4000-5000...
I wasn't thinking of the impact of trading those coins, but of the bad press, and possibly bad actions by the SA government.
(However, MLM schemes may easily involve millions of people, not just poor by also middle-class, and therefore move a lot of money. And, if the owners of that ponzi run away, at some point they may want to move the BTC that they are collecting in SA to some exchange outside of SA, to cash out and buy gold or something less traceable than BTC.
Come to think of it, perhaps those reckless buys at BTC-e last week were those guys buying BTC with the cients' money, as a preparation for the disappearing act...
If they are moving any
serious amount of money they would be better off moving through one of the regulated money launderers like Wachovia or HSBC. Much safer that way.
1281.
Post 11267771 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
...
If they are moving any serious amount of money they would be better off moving through one of the regulated money launderers like Wachovia or HSBC. Much safer that way.
Yeah, Bitcoiners manage to fuck up anything remotely related to money, why would laundering it be any different?
Rank amateurs!
Will take some time and practice to compete with the pro's...
Don't worry, time is on our side, yes it is!
1282.
Post 11267828 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
There were some ~400 BTC ask-walls on Finex just a couple of minutes ago, where are they now? They seem to have caved in... This dump doesn't seem to materialize any further, even though Huobi is still trying to push it down a bit. 1445 as we speak.
I've become resigned to the fact that the market has grown significantly from the "good old days".
I expect that there will not be any more run away moves like in the past.
Sideways until sometime in 2016 I suspect...
I'd be pleasantly surprised to be proven wrong.
1283.
Post 11267876 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
....
Rank amateurs!
...
You ain't kidding! World's dumbest (and funniest) criminals.
Bitcoiners harassing decent people for money, being retarded & making a public nuisance of themselves.
Shit never changes :D
Yeah, well, maybe someday... maybe someday those kids will grow up to be
lobbyists,
maybe someday they will learn the way the world works and quit messing around with crypto and just start buying favorable legislation with good old federal reserve notes, like respectable folk.
Maybe someday...
1284.
Post 11267971 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
^Until that day, they remain an unforgivable embarrassment
Yes, an unforgettable reminder that if you don't control your keys, you don't own shit!
Same goes for many markets...
I'm anticipating the day when some other markets start to unwind and people begin to realize that they are only holding promises, well, I only hope they are as calm.
1285.
Post 11268059 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
...
I'm anticipating the day when some other markets start to unwind and people begin to realize that they are only holding promises, well, I only hope they are as calm.
I only hope they're as funny
Hah, depends on your sense of humor I guess...
1286.
Post 11268072 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
You just 'turned on' the troll-putz by giving it the time of day. Please tell me you were bored and said, oh what the hell...
You're right, sorry chef. I'll shut up now... or not...
@shmadz: What IS that?! Ron Paul trying to run for office again?
That's Draghi, dancing to the beat of a whole new drum.
1287.
Post 11268368 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
^Until that day, they remain an unforgivable embarrassment
Yes, an unforgettable reminder that if you don't control your keys, you don't own shit!
Same goes for many markets...
I'm anticipating the day when some other markets start to unwind and people begin to realize that they are only holding promises, well, I only hope they are as calm.
There is something called regulatory oversight, yes it sometimes does not work but it prevents things from going as bad as it went with gox.
Deal with it wingnut.
LOL!
Just like it prevented Lehman Bros.?
Or maybe going from less than 1 trillion to more than 18 trillion in debt during the reign of Obama was a good thing?
You can take your "regulation" and shove it, my friend.
*edit* mtgox was a corrupt, failing institution, but at least it was allowed to fail. Some people lost money in that fiasco , but at least the losses were absorbed by the parties involved, not spread upon the general public like what happened in 2008. I have no faith in a regulatory system that exits only to prevent competition and does nothing to prevent corruption.
1288.
Post 11276724 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Tim Swanson thinks transactions cost 25 BTC divided by the number of transactions in a block. That's a complete misunderstanding of not just what the block reward does but of what Bitcoin even is. He has gathered some interesting data, but his analysis is unlikely to be of much use as he has no fundamental understanding of Bitcoin in the first place.
Tim Swanson (who understands bitcoin's economy much better than most bitcoin gurus) is looking at the miners as an entity that performs a service to the "bitcoin system" (validating and securing transactions) in return for a payment (the block rewards and transaction fees).
<snip>
That's where you and Tim are mistaken prof. You are completely ignoring the main function of the block reward, which is to distribute the tokens.
1289.
Post 11277852 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Tim Swanson (who understands bitcoin's economy much better than most bitcoin gurus) is looking at the miners as an entity that performs a service to the "bitcoin system" (validating and securing transactions) in return for a payment (the block rewards and transaction fees).
That's where you and Tim are mistaken prof. You are completely ignoring the main function of the block reward, which is to distribute the tokens.
That may be
one intended function of the block reward; but now it is effectively the main payment that miners get for their work. (It is far from ideal for both purposes, though. The 25 BTC reward would be adequate if the price was in the single-digit range; which would be the case, if Satoshi had not been brainwashed by his libertarian friends with that
Austrian Economics fiction about deflationary money...)
Poor Stolfi, again I'm reminded of Dr. Robert Stadler.
Enjoy your socialist, inflationary paradise while it lasts, professor.
1290.
Post 11278106 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Poor Stolfi, again I'm reminded of Dr. Robert Stadler.
Enjoy your socialist, inflationary paradise while it lasts, professor.
Is that the "villain" of
Atlas Shrugged? If so, well, I guess I am it, what can I do.
It is far from a paradise, but at least it is survivable. As for the ancap libertarian utopia, the only good thing I see in it is that it will collapse immediately if it ever gets implemented...
I wouldn't call him a villain ( and I don't mean to paint you as the villain here either)
In my interpretation, he was merely a short-sighted, misguided professor who had three brilliant students that recognised the problem and walked away from it and built something better, while their "teacher" remained entrenched in the problematic system. (He met a rather unpleasant end, by the way... sorry for the spoiler)
In any case , it was only a fictional tale. Although I disagree with nearly everything you say, I do not wish you ill.
Best of luck, professor.
1291.
Post 11278448 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Tim Swanson (who understands bitcoin's economy much better than most bitcoin gurus) is looking at the miners as an entity that performs a service to the "bitcoin system" (validating and securing transactions) in return for a payment (the block rewards and transaction fees).
That's where you and Tim are mistaken prof. You are completely ignoring the main function of the block reward, which is to distribute the tokens.
That may be
one intended function of the block reward; but now it is effectively the main payment that miners get for their work.
(It is far from ideal for both purposes, though. The 25 BTC reward would be adequate if the price was in the single-digit range; which would be the case, if Satoshi had not been brainwashed by his libertarian friends with that Austrian Economics fiction about deflationary money...)
Thanks to Marcus for bringing my attention to something I had missed.
I'm curious about that bolded part. What, in your opinion, would be a more "ideal" distribution method?
1292.
Post 11282735 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Someone bought 159 shares at $42
Wait a minute,
Are you telling me that if I held this financial instrument for at least one year, I would be able to sell the derivative for almost twice the price of the underlying asset?
This makes no sense
1293.
Post 11282801 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.13h):
Someone bought 159 shares at $42
Wait a minute,
Are you telling me that if I held this financial instrument for at least one year, I would be able to sell the derivative for almost twice the price of the underlying asset?
This makes no sense
If you were an accredited investor and happen to have been one of the 600-700 shares worth that were traded thus far, yes. Granted, if you bought a year ago, you would still be under in terms of your entry, but you could sell your shares and purchase again at nav if you were content on holding another year. Else, cash out and send the money to one of the exchanges to buy BTC directly.
So.... effectively almost $200 premium for a derivative version of bitcoin?
Interesting
1294.
Post 11305892 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
WTF are trying to do Finex?
Looks like someone turned up the volume...
1295.
Post 11306084 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Looks like almost 30k bitcoin was moved in the last hour with less than 5 dollars slippage.
That's some decent liquidity.
1296.
Post 11306196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Problems with Bitfinex with the margin trading platform. Some guy in Whale Club said he was automatically made to go short, then got margin called. His account now reads -$17,000 so apparently he owes money.
Anything related to FIX you think?
https://ihb.io/2015-03-12/news/fix-protocol-and-bitcoin-16493Or finex and alpha-point glitch?
http://www.businesswire.com/news/home/20141103005813/en/World’s-Largest-USD-Digital-Currency-Exchange-Bitfinex#.VUqWXhkamBY
1297.
Post 11306368 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
This has all happened before...
And it will happen again...
1298.
Post 11306451 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Just to clarify for anyone who is still unsure of where we are in
the grand cycle...
Enjoy the next 6-10 months of sideways everyone
1299.
Post 11306579 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
So you are telling me that since bitcoin went from a few millions marketcap to a few billions marketcap, it means hundread of billions of even trillions is next?
Any penny stock pump and dump looks like that. Some bubble up again, some don't.
Saying that "bitcoin history will repeat itself" is BIAS. Bias gets people killed.
Not saying it won't happen, just saying that blindly buying and hoping is not a good strategy. Exactly as when it was at $2 or $10, the best strategy was to form an opinion on the market and buy/sell accordingly.
I'm not Saying that "bitcoin history will repeat itself" .. history doesn't always repeat, but it does seem to rhyme.
I'm just saying that there is a chance (a good chance, in my opinion) that it could be several months before we see a significant move upwards, if ever...
when we were at 2 dollars I was not sure the price would ever recover, I sold plenty coins at the 5 to 10 dollar range to protect myself against the chance that it might never go up again.
I also held on to a "small" amount of coins, "just in case"...
If you are going to hedge, you should hedge against both outcomes.
That's all I'm trying to say
1300.
Post 11312976 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
1301.
Post 11322159 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
where is tarmifart and the other fuckers?
Leaving any potential monetary incentive aside, I relish these moments for the brief respite from the incessant droning of the trolls.
Enjoy it while it lasts everyone. Cheers!
1302.
Post 11322309 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Huobi broken?
Or just Wisdom?
(nm, the chart is starting to fill in, it's almost like having instant replay)
1303.
Post 11322536 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Is it possible to tell who has been pulling these two rallies?
Could it be people buying bitcoins somewhere else to move them to ITBit?
Or a reaction to the GBTC recovery? (BTW, what happened to that 50'000 share bid?)
Is it possible that a computer science professor that purports to have only an academic interest in a disruptive new technology would spend most of his time obsessing over market moves?
Could it be that he might be better served learning about how this fascinating new technology actually works?
Or is he just trolling for attention? (BTW, why the fuck do you give a shit about price if you've got no skin in the game?)
1304.
Post 11332641 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
The volume so far is impressive, but what is the nominal asset value (NAV)? Each BTC-EKN share = 0.0001 BTC? So it is trading at 60% under the NAV, is that it?
Quoted: this is how low he went once^
lol. Just like crave or that dude yesterday pushing sling...
Who needs a whitepaper when you've got fancy infographics?
Reminds me of that movie where they were watering the crops with Gatorade...
1305.
Post 11333587 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Are we going up now?
Drifting higher on low volume always makes me nervous...
1306.
Post 11336196 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Uh oh, that kiss gif has resulted in a small green boner forming on the charts...
I wonder what might cause that green erection to grow
1307.
Post 11336293 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
China looks to be leading this little pump. Wonder what triggered it.
It was the kiss gif, obviously.
Duh!
1308.
Post 11336353 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
China looks to be leading this little pump. Wonder what triggered it.
It was the kiss gif, obviously.
Duh!
Silly me. Of course. Post more!
ACK! To late! I fear there will be brokeback gif incoming and red dildos to follow!
(Note to self: must refrain from posting while drunk)
1309.
Post 11336583 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
Looks like someone doesn't like it to come back below 238.Interesting.
that's me
More interesting is what happens if that wall at 260 on finex gets threatened?
1310.
Post 11341223 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.14h):
got in with 370 btc last week at 230, this week we should be going over 250s
, btc isnt pumping , its undervalued and smart money is buying it up
Its not undervalued. Its rightly valued atm. Don't expect the price to move upward in the coming 2-3 months, just hope that the dumpers wont dominate the market again.
sorry bro, but i fully expect the price to move upward in the coming 2-3months, we are at a very crucial period,
http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/ is one of many reasons. With regulation so near they are stocking up. Once regulated the biggest changes will be in exchanges and coin storage as both will now be fully insured against theft etc. Exchanges will have to comply with the new rules which will mean full id of all users, in return for giving the id you will feel safe knowing your coins are insured. Banks will offer services based on btc and will make it easier and safer for the avergae joe to buy/hold and trade as long as tax is paid.
http://www.coindesk.com/nasdaq-bitcoin-marketplace-noble/ heres another
Most of the coins flowing into XBT Providers ETN will be from KnC Miners stash. This is just a way for KnC to get a pretty penny for their mined coins. I wouldn't expect this to move the market.
Even so... if XBT Provider gets 10mil€ (still small number) in first month this could turn around the whole market. I doubt KNC will simply sell all their coins sub 300$. KNC will probably help them buying on OTC markets.
Everyone from EU will be able to buy XBT shares...
So there could be some huge money flow into it.I couldn't find the report about the Swiss fund that was considering taking all it's money out of the bank and holding it in a vault, but I did find this.
http://www.businessinsider.com/r-snb-considering-higher-negative-interest-rates-schweiz-am-sonntag-2015-3"a rate of minus 1.5 percent is being considered".
The war on savers is going to force people to find alternatives.
*Edit - found it
http://www.acting-man.com/?p=37037"One fund manager showed that for every CHF 10 m. in pension money, his fund would save CHF 25,000 – in spite of the costs involved in vault rent, cash transportation and other expenses."
1311.
Post 11376358 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
isnt there a huge fee for buying with an ATM?
Out of curiosity, what's the premium on those things?
They recently raised the rate from 5% to 7.5% so it's getting less affordable.
I always justified the 5% by saving the hassle and expense of transferring money from my bank to the exchange, the (albeit small) exchange fees, and the time wasted on hassling with the banking and transfer process. Often the money saved by not waiting a week for an exchange deposit more than pays the fee. ATMs are fast, easy and very suitable for small (less than 3 coins) purchases. I still will use an exchange for larger buys.
I also treat part of the fee as an insurance premium against having to leave money (Bitcoin or fiat) on an exchange, exposed to the internet. I lost 50 bitcoins at MtGox. Once bitten, twice shy. Offline paper wallets FTW.
An added bonus is that the ATM coins are anonymous (or should I say pseudonymous?) at least until you crack the paper wallets and expose the coins to the 'net. This is probably worth a few points to many people.
Personally, I think it's hard to beat buying instantly through Quadriga via debit card for just 1.5% - I never have to leave any money there, just send fiat and withdraw bitcoin. The first transfer I made was delayed 24 hours for some security reason, but every time since then it's instant. Very nice service.
1312.
Post 11384993 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
I am sitting next to my grandmother. No joke.
When that popped up I slammed my laptop closed.
I was showing her how I trade Bitcoin and good places I find information
bitcointalk = ok to show
speculation subforum = ok to show, but with grains of salt
wall observer = i´d never show this thread to family members.
There was someone who claimed he was viewing it on a train when someone posted a porn picture here. He said the woman sitting next to him moved to a seat at the other end of the carriage because of it. I'd be really embarrassed reading this thread in public considering that story.
Bah, if anyone gets offended cuz some porn pops up on my phone it's their own damned fault for looking over my shoulder.
1313.
Post 11431765 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
Daily moving averages look to cross over again,
Difficulty remains flat,
I think we are seeing distribution equilibrium. I suspect the price could remain in this rough range, 180 - 300 for at least the rest of this year.
1314.
Post 11435142 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
He issued a letter to the management of the London-based bank demanding to know why he shouldn’t revoke its license to operate in New York given all the improper transactions it had enabled. A week later, the bank reached a settlement with DFS.
This guy operates at the highest levels of corruption and coercion.
Here's how this conversation goes.
Ben Lawsky: "Give me one good reason why I don't shut you down."
Banker: "How about I give you 485 million good reasons?"
Ben Lawsky: "meh, it's a start, I guess."
Getting in bed with the regulators is just asking for trouble. I worry sometimes about the proposed changes that bitcoin "needs" in order to achieve "mainstream adoption".
1315.
Post 11437217 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
snip, quack
You're ignored in a large fashion at this point but we've dealt w/ with others that would lol at your stance but also want more thoughts on their posts. Rand did so well tonight that I hope yall realize it and embark on a mission to make him Prez.
Remember Ron Paul auditing the Fed and winning primaries? Oh yeah...
Btw, anyone else think Satoshi timed the block halvings to coincide directly with the U.S. election cycle?
(Think about it, as much as we would like to pretend that the change in distribution is "priced in" we all saw the massive swing the last time block reward was cut in two. Next block halving should happen some few months before next election. Will bitcoin policy be part of some candidates platform?)
1316.
Post 11437677 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
Btw, anyone else think Satoshi timed the block halvings to coincide directly with the U.S. election cycle?
(Think about it, as much as we would like to pretend that the change in distribution is "priced in" we all saw the massive swing the last time block reward was cut in two. Next block halving should happen some few months before next election. Will bitcoin policy be part of some candidates platform?)
Last time, the halving almost coincided with the arrival of asics. BTC was the main/only form of payment early on. I would bet this had more of an impact than the halving itself.
2016 halving will definitely be a different animal, as many mining operations are huge businesses, on fairly thin margins already, with efficiency being critical. 3600 to 1800 coins per day is a big difference in supply...
As far as the political angle? I don't think anybody running for office cares about our digital tokens too much yet.
Totally agree, the Asics coming out possibly had larger effect than any political event (argument could be made for congress hearings)
I'm just saying that you don't model your distribution to get cut in half every four years just on the off chance that it might coincide with some technological breakthrough.
Rather, I'm suggesting that if you choose to have a disruptive halving of the rewards for your new crypto coin every four years, there might be some other significant event that happens every four years that made you decide on that interval. And I'm not talking about the world cup
1317.
Post 11438697 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.15h):
yes, excellent opportunity to sell.
Good luck in flat market. Hope you can stay profitable.
Wait a minute, I thought you sold already? How many coins do you have Mr
whale frog?
1318.
Post 11467509 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
It's going to continue going down.
I think Cryptsy or even Poloniex has more volume than GBTC and the Stockholm. Giving away free bitcoin mining toasters is hardly impressive as well.
It's been just big disappointment after big disappointment.
I also think that the Chinese can control the mining industry and actually take losses there that are made up through market manipulation.
Bitcoin would be far better off PoS. Right now it's a huge bottomless hole of electricity cost and one nuclear miner or subsidized miner would knock everyone's socks off. Also, you have money going into BTC and then money flowing into machines the equivalent of a 1970's type writer (worthless now.) It would be much better if it was "all in one". It may encourage people to solo stake (pool staking seems sketchyish.) Bitcoin has far to many people invested/scamming with mining for it to change at this point I fear...
PoS would provide better growth for the network.
LOL!
You're a funny guy!
How's your lawsuit against coinbase going?
1319.
Post 11468109 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
How do you think PoS wouldn't be better for the network? Do you think the average third world person deserves a chance to help secure the network?
Proof of stake serves only to enrich the stakers.
You fail it
1320.
Post 11474044 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Good morning Bitcoinland.
Still going sideways.
Yawn.
"The market can stay boring longer than you can stay awake."
1321.
Post 11485142 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
'bout time something interesting happened.
T-47 minutes...
1322.
Post 11485547 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Lol 4100 unconfirmed transactions.
2142.1044921875 (KB) Block size.
Mostly just because miners haven't found a block in the last 30 minutes, which is just
coincidentally the same time the "test" began.
1323.
Post 11485570 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Lol 4100 unconfirmed transactions.
2142.1044921875 (KB) Block size.
Mostly just because miners haven't found a block in the last 30 minutes, which is just
coincidentally the same time the "test" began.
4900 unconfirmed transactions and 2500 KB block size, this will fuck a lot of miners.
How does this affect miners at all? Miners can output empty block if they want, regardless of how many unconfirmed transactions. When it comes to creating blocks, the miners run the show.
Edit: one thing I do find funny though, Satoshi implemented the 1MB block limit as a denial of service prevention measure, and now a handful of people on reddit are performing a denial of service attack on the network to protest the limit that was supposed to prevent the attack...
1324.
Post 11485675 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.
I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.
Where do you get the 26000 number?
I suspect many of the transactions will be considered spam or below the dust limit or whatever.
I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTS
1325.
Post 11485879 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.
I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.
Where do you get the 26000 number?
I suspect many of the transactions will be considered spam or below the dust limit or whatever.
I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTSAre they paying the fees for those transactions, and how much is the combined total of fees paid? I assume the miners will ignore any transactions with no fees.
edit]
Block 358596 had fees of 0.4 Bitcoins. Spamming the Bitcoin network is not cheap.
That's the first transaction he sent, paid 0.000019 BTC in fees. I'm pretty sure all his transaction will go through eventually.
Also pretty sure that all this panic that bitcoin will collapse if we reach the block limit is just a bunch of bullshit FUD.
[Rant]
the main chain should not be treated as if it is a free unlimited resource. There should be a cost involved to place your entry in the blockchain, eventually, this cost will be significant. Scarcity on the main chain should be preserved.Personally, I'm still undecided on how we can achieve this super-secure ledger while still offering a reasonably secure solution for everyday transactions, but I'm currently leaning towards side chains... or even just using alt coins, if there were low enough friction of transferring back and forth
[/rant]
1326.
Post 11486460 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Lol 26000 unconfirmed transactions. And blockchain.info is lagged like shit.
I think what's happening is other nodes are hanging onto 26,000+ old transactions while blockchain.info drops them after a certain amount of time, with only 5000 transactions, hence the discrepancy.
Where do you get the 26000 number?
I suspect many of the transactions will be considered spam or below the dust limit or whatever.
I'll be watching this guy's attempt to see if these transactions ever get accepted.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTSAre they paying the fees for those transactions, and how much is the combined total of fees paid? I assume the miners will ignore any transactions with no fees.
edit]
Block 358596 had fees of 0.4 Bitcoins. Spamming the Bitcoin network is not cheap.
That's the first transaction he sent, paid 0.000019 BTC in fees. I'm pretty sure all his transaction will go through eventually.
Also pretty sure that all this panic that bitcoin will collapse if we reach the block limit is just a bunch of bullshit FUD.
[Rant]
the main chain should not be treated as if it is a free unlimited resource. There should be a cost involved to place your entry in the blockchain, eventually, this cost will be significant. Scarcity on the main chain should be preserved.Personally, I'm still undecided on how we can achieve this super-secure ledger while still offering a reasonably secure solution for everyday transactions, but I'm currently leaning towards side chains... or even just using alt coins, if there were low enough friction of transferring back and forth
[/rant]
Everyday purchases can be done using a 3rd party that you periodically top off. for example using
http://www.getonebit.com/ to buy stuff anywere paypas is appected. I cant wait for this to be in beta, hopefully i get in on the "early access"
in anycase, i don't see why TX costs has to increase, for now the mining reward is sufficient, and TX vol will increase, 30 years from now when there is no more block reward the network will avg 100TX per second, 8,640,000TX a day, each with a 0.00001BTC fee bring in ~86.4BTC a day making the block reward ~0.6BTC. Assuming a tx fee of 0.00001BTC = 10 cents that means 1BTC = 10,000 dollars, making the block reward 6000$, currently the block reward is about 5900$, so we should be able to deliver the same kind of network security based off of TX fees alone. 8,640,000TX @ 10 cents a TX = 8640$ a day to keep bitcoin running. Maybe bitcoin is used by 2million poeple making an avg of 4.3 TX a day ( actually using bitcoin for day to day purchases ) These users would incur fees of 43cents a day or 13$ a month or 157.05$ year in TX fees, which appears to be competitive with banking fees
bottom line we need 2 million people using bitcoin for the network to be secure without a block reward
doable.
OK, but you are giving the same level of security (around 6000 dollars per block rewards) that is currently protecting a network worth about 3.5 billion and you want to use that same level incentive to protect a network where (1BTC = 10,000 dollars, so network worth about 210 billion)- and that doesn't even take into consideration colored coins representing equity in companies trading on nasdaq (coming soon
You are talking about a network worth a hundred times more, so the fees would need to be a hundred times higher (in this example, $10 fee to embed your transaction, perfectly reasonable, cheap even)
Bitcoin should be used for buying houses and lambos and private islands and settling debts between nations, not for buying coffee or tipping 25 cents to watch a you tube video.
...
I don't have the answer, I don't think anyone can know for sure.
I just think that bitcoin's killer app is the security and immutability of the Blockchain, and unless you can leverage the value of that security by enforcing scarcity and providing sufficient incentive to the miners to provide that security, then it's just not going to work.
1327.
Post 11486545 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Btw, 550 transactions with less than half a cent fee took less than 4 hours to clear - even during an intentional spam attack on the network that saw unconfirmed transactions exceed 25,000.
https://blockchain.info/address/12qLgVrkW561PbpfvokKwfj7CPjCVwwCTSThere is no evidence that bitcoin will crash and burn once we reach the block limit. I would rather tackle the problem of sustainable transaction fees to support the miners now when the network is still small than push of the problem several years into the future when the network might be several times larger.
1328.
Post 11500856 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.
That's good news for all the hodlers. I've been dead wrong on almost all of my trades. Probably Greece will default on the 5th of june and a lot of Europeans will get out of € and into BTC skyrocketing BTC-euro value.
You are brave. I don't know when or if the price will start upward again, but from my experience in the past, it can happen very quickly. In my case it can take me several weeks to transfer any significant amount of fiat to the exchange to transfer back into bitcoin. I hope that either you have much faster method of transfer, or if you're just leaving your money on account at the exchange, that your exchange of choice is more trustworthy than most.
Best of luck.
1329.
Post 11500982 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.
That's good news for all the hodlers. I've been dead wrong on almost all of my trades. Probably Greece will default on the 5th of june and a lot of Europeans will get out of € and into BTC skyrocketing BTC-euro value.
What this? I've been away for a while
http://qntra.net/2015/05/gavin-threatens-to-quit-bitcoin-development-and-join-hearns-fork/Actually, better discussion is here:
https://bitcointalk.org/index.php?topic=1074701.0Also check out Gavin vs Peter Todd:
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-217-the-bitcoin-block-size-discussionI'm hoping the fear, uncertainty, and doubt will keep the price in check for the rest of the summer... below 250 CAD would be ideal.
"As low as possible for as long as possible."
1330.
Post 11501125 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
pro tip : tomorrow is a pump or a dump
Please define "pump" and "dump". Specifically, how much price movement defines such a pump or dump? 2 dollars? 10 dollars?
I would be very surprised if I were to re-quote this post 24 hours from now and the price were more than 5 dollars plus or minus the current price of 228.80 (finex USD)
1331.
Post 11501194 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.
That's good news for all the hodlers. I've been dead wrong on almost all of my trades. Probably Greece will default on the 5th of june and a lot of Europeans will get out of € and into BTC skyrocketing BTC-euro value.
You are brave. I don't know when or if the price will start upward again, but from my experience in the past, it can happen very quickly. In my case it can take me several weeks to transfer any significant amount of fiat to the exchange to transfer back into bitcoin. I hope that either you have much faster method of transfer, or if you're just leaving your money on account at the exchange, that your exchange of choice is more trustworthy than most.
Best of luck.
Thank you.
As I am in Europe I use Kraken. SEPA-transfer is pretty quick. I chose not to keep the € on Kraken tho, as this thing might take some time to play out. A transfer from Kraken to my bank-account is only € 0.09 and free from my account to Kraken, so better to not take any risk with these kinds of amounts.
Nice! Good to see barriers to entry (and exit) coming down.
1332.
Post 11501477 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
we broke every trendline.... This is never going to stay stable above 200$ for much longer... Just one big guy saying he is done is enough right now
Bullish ? Bearish ?
Three toed slothish?
Pardon me ?
He probably means stagnatingish, but I don't suppose anyone's invented a proper word for it yet. Please let me know if there is a proper trading term for it, besides sidewaysish.
absolutelymindnumbinglyboringish
yay, nay?
We must not go sideways. Sideways is the mind-killer. Sideways is the little-death that brings total obliteration. We will face the sideways. We will permit it to pass over us and through us. And when it has gone past we will turn the inner eye to see its path. Where the sideways has gone there will be nothing. Only Bitcoin will remain.
1333.
Post 11509845 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
pro tip : tomorrow is a pump or a dump
Please define "pump" and "dump". Specifically, how much price movement defines such a pump or dump? 2 dollars? 10 dollars?
I would be very surprised if I were to re-quote this post 24 hours from now and the price were more than 5 dollars plus or minus the current price of 228.80 (finex USD)
Currently 222 on finex, almost 7 dollars move! Colour me impressed!!
(Price in CAD is still too high to take advantage unfortunately 283.80
)
1334.
Post 11510574 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
I can't see any more down the hill. Don't expect 180-190 $ coins.
I guess the ground will be $200 by max.
So you think the price of Bitcoin will never go below $200 again, ever ?
It may go sub $200, but will bounce again quickly.
Difficulty has flatlined. In my experience, the average electricity cost to mine a bitcoin is still around 150 USD.
As Satoshi said "The price of any commodity tends to gravitate toward the production cost. "
Of course, if there is another speculative bubble which drives up price, the increased profit motive would incentivize more mining capacity to be brought online, which would cause difficulty to increase, thus the production cost also gravitates toward the price.
Quite an interesting economic feedback loop.
1335.
Post 11510859 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
<tinfoil>
Gavin has been increasingly aggressively pursuing the block size increase ever since he started receiving paychecks from MIT. It would be interesting to trace the funding he's receiving all the way back to see who's really pulling the strings now, but it's fairly safe to say that if you are dependant on another person/group/entity for your livelihood, you are exposed to potential pressure from that person/group/entity.
The only alternative way to increase transactions without increasing block size is to enable some sort of off chain transaction method. Off chain transactions allow for channels to be set up that would allow effective mixing and increase anonymity. The smaller the block size, the larger the number of transactions that take place off chain, the more difficult it becomes to trace coins.
</tinfoil>
1336.
Post 11511079 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
pretty soon all the people that will be left holding coins are crazy & hard headed investors who never sell and always buy more.
i didn't want bitcoin to bottom this way, but seems to be it's happening, how else would you explain this retardedly low price?
Ummm...
Difficulty has flatlined. In my experience, the average electricity cost to mine a bitcoin is still around 150 USD.
As Satoshi said "The price of any commodity tends to gravitate toward the production cost."
That's one explanation.
Btw, that's 150 just for electricity, that does not include rent, wages, taxes, etc... so true cost of production is likely somewhat higher.
1337.
Post 11511146 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Btw, that's 150 just for electricity, that does not include rent, wages, taxes, etc...
150 is cheap, is this for a dedicated miner or pc?
PC?
I don't even think a pool would recognize or accept your hashrate. It wouldn't even register.
my guesstimate is based on my personal experience with knc Neptune (around 3 TH/s at approx 2000 watts) and 0.10 $/kWh
1338.
Post 11514310 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
I want a bitcoin miner in my hot tub.
I'm not really a fan of water cooling. Maintenance is a pain, leaks are inevitable.
On the other hand, in the winter I see these things under every other person's desk at work and I just cringe when I think of all that wasted electricity.
Absolutely no reason that all electric space heaters won't eventually be replaced with mining rigs, in my opinion.
1339.
Post 11514832 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
nice little recovery in progress.
Agreed. I can see $230 as a possibility today. Would be nice to erase the bad weekend memories.
It feels like trench warfare. You dig a trench, establish a line of resistance, fight it out for a bit, are overrun, retreat a while and dig a new trench...
It's like the price war of attrition.
1340.
Post 11520028 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
750 on stamps if they dump it all in 1 hours time i guess we'd feel it
It's more of the 8400+ BTC that are also coming. It's important to remember there is a difference between "volume" (potentially same bitcoins back and forth between different people) and "net sell". These 8400+ BTC are going to add 8000+ to the "net sell" and taking cash out of bitstamp.
Thanks for the heads up, my bids start at 250 CAD, I hope I am not going to be disappointed.
1341.
Post 11524463 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
-snip-
“The era of commingling customer Bitcoin and all of the associated security exposures is over,”
-snip-
Does this mean we're now limited to mixers and gambling sites to launder money? Regulators destroying bitcoin?
Bitcoin's only hope at this point is to become the completely transparent coin. Trying to use it for anything you wish to keep secret will be foolhardy. Satoshi will never get to spend his million coins as long as he wishes to remain anonymous, unfortunately.
--- also ---
Bitfinex team is very excited to be the first exchange in the world to automate Bitcoin settlements using ‘On-Blockchain’ customer segregated wallets.”
Bots performing high frequency trading where every transaction occurs on-chain will force the bigger-block discussion. Nasdaq will be wanting to record their equity trading in the blockchain as well. 20 meg, 100 meg, even giga-blocks will be needed to keep up if they want to do everything on-chain. Trying to keep bitcoin decentralized in the face of wall street pressure is futile. Perhaps it was all just a foolish dream to begin with.
1342.
Post 11526291 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
Section 200.5 Application fees
As part of an application for licensing under this Part, each applicant must submit an initial application fee, in
the amount of five thousand dollars, to cover the cost of processing the application, reviewing application
materials, and investigating the financial condition and responsibility, financial and business experience, and
character and general fitness of the applicant. If the application is denied or withdrawn, such fee shall not be
refunded. Each Licensee may be required to pay fees to the Department to process additional applications
related to the license. That should keep the little hopeful shrimp out of it!
HOW FUCKING DARE THIS GUY PREVENT THE LOWER HALF OF THE ECONOMY NOT EVEN TO HAVE A CHANCE.
I will not use ANY service that follows this shit. Pack your bags and go to NJ or something.
Vi Va La Resistance!
I'm surprised they don't have a clause
requiring businesses to retain the services of a licensed and recognized consulting group in order to maintain compliance within the regulations (which will be subject to change without notice, and retroactively enforceable)
... This whole thing is such a farce. Disgusting really to see the blatant corruption in the system.
Reminds me of this:
http://trilema.com/wp-content/uploads/2012/10/crime-of-being-american.jpg
1343.
Post 11528574 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
let me know when it's buy time. i have problems staying motivated to read the forum when i am not active. i been sitting on coins for over a year. trading is the only time i really can be motivated to be involved.
Buy time is running out. This is not financial advice, but the only way to ensure you end up on the right side of the upcoming fork is to have control of the coins
before the fork happens. This way you ensure that your coins will be spendable on both forks.
Alternately, you could just sell everything now and wait until one fork wins. There's a chance the price might run away from you before this whole thing resolves, but there's also a chance this whole thing just collapses under the weight of all the in-fighting and bickering.
As always, don't risk more than you can handle, this shit will drive you nuts if you get in over your head. (not directed at you Aztec, just a general public service advisement)
1344.
Post 11532636 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
It is not about HD space, it is about "what?? you can halt and fork the whole thing while i am sleeping and next morning am on the worthless losing fork? WTF!".
After the hard fork, you will automatiall have the same amount of bitcoins in both chains. Hopefully a consensus would have been reached before that time so one
of the clones will be worthles and unusable for lack of miners, and "bitcoin" will be the other clone. In the unlikely chance that both versions survive, if you have the privatekeys you will be able to move or sell each clone independently by using the proper version of the software.
What's to prevent miners from merge-mining both "clones" ?
1345.
Post 11534740 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
the update will be accepted by all.
I think that I'll dump Gavincoins and hoard the good coins.
If everyone switches, I'm gonna solo mine the old coin. At current difficulty I should find a block roughly once every 42 weeks, on average.
(PM me if you'd like me to include your transaction, I'm sure we can work out a deal
)
1346.
Post 11539328 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.16h):
bitcoin fought the chasm in the adoption cyle. now it's clear it will not become the new instagram, facebook or google. not even the new internet. not even a industrial revolution like steam, electricity, computerization.
it will become a paradigm shift from centralization to dezentraliation.
no more contracts, notarys, lawmakers, goverments needed.
we will move on to the society of citizens, where democray and freedom is trustless.
a new dawn. you're welcome, gentleman.
You forgot to say that bitcoin will end poverty (read it in Forbes, and Sir Branson approves).
It will also end election fraud (see Swarm and the Bitcoin Foundation election).
It will also give each human being his due share of land (Factom will see to it)
It will also let the unbanked in rural Africa order cocaine through their iPhones (conflating a bit).
It will also cure cancer, obesity, baldness, and erectile disfunctions (obviously).
It will also fix the extremely unequal distribution of wealth. Wait, no, nobody wants that.
What we are trying to do here is remove the power to create and control the money supply from a corrupt, small group of individuals.
Nothing more.
Nothing less.
1347.
Post 11558654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
" As a matter of fact, millions upon millions of dollars have been lost by men who bought stocks because they looked cheap or sold them because they looked dear. The speculator is not an investor. His object is not to secure a steady return on his money at a good rate of interest, but to profit by either a rise or a fall in the price of whatever he may be speculating in. Therefore the thing to determine is the speculative line of least resistance at the moment of trading; and what he should wait for is the moment when that line defines itself, because that is his signal to get busy. "
There's gonna be a lot of attempts to send fake signals over the coming months. The market is simply undecided at this point because there is too much uncertainty looming with the block size debate and other unresolved issues. If the market does indeed turn around, it should be obvious, and there will be plenty of time to get on board and claim your position. Just remember that even if you are right about the market in the long run, if you choose your entry too early, you can get REKT.
"First they sink to the bottom. Then they come up; but not right away. They've got to be good and dead a couple of days. It isn't time for these corpses to rise to the surface. They are not quite dead yet."
1348.
Post 11560420 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Just remember that even if you are right about the market in the long run, if you choose your entry too early, you can get REKT.
"First they sink to the bottom. Then they come up; but not right away. They've got to be good and dead a couple of days. It isn't time for these corpses to rise to the surface. They are not quite dead yet."
and then? Do they resuscitate and go straight todamoon?
Not sure, haven't yet finished the book. Here's another gem.
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be up or down. The thing to do is to watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not take an interest until the price breaks through the limit in either direction. A speculator must concern himself with making money out of the market and not with insisting that the tape must agree with him. Never argue with it or ask it for reasons or explanations. Stock-market post-mortems don't pay dividends.
*NOTE* that last sentence is a little contradictory as throughout the book he often mentions that one of the keys to his success was to learn from and analyse his mistakes. Stock-market post-mortems may not pay dividends, but they do offer an education.
1349.
Post 11560540 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Just remember that even if you are right about the market in the long run, if you choose your entry too early, you can get REKT.
"First they sink to the bottom. Then they come up; but not right away. They've got to be good and dead a couple of days. It isn't time for these corpses to rise to the surface. They are not quite dead yet."
and then? Do they resuscitate and go straight todamoon?
Oh hey! I found the answer!
1350.
Post 11562592 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Hopefully, we'll be back to 225 tomorrow. Then we'll have a bunch of trolls calling it a dead cat bounce.
Price needs to break and run, otherwise we'll be suffering this flat market for months.
Break and run means break through 220 and run down to the high 100's to confirm bear market is still on -- or for bull scenario to be confirmed we need to break upwards sharply and run up to ... oh jeez, like past 300 with no signs of stopping.
Pretty fat chance of either
1351.
Post 11570186 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Poll is missing the "remain rangebound between 220 and 230" option.
1352.
Post 11596324 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Price would be a yawnfest if it werent for the growing leveraged long position.
Big move coming soon.
I agree,
if we define "soon" as meaning "within the next two years soon"
1353.
Post 11605188 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Why is the red wall almost vertical on Finex
you missed the show.
This is great! I love how the market price has not moved more than 5 bucks for a whole week and yet we are treated to constant visuals of destruction, devastation, doom and gloom.
Also I liked this,
50rry, 1'm 4 m1ddl3-463d 3duc473d pr0f35510n4l. 1 d0n'7 n33d b17c01n 70 h4v3 4 h4ppy 5ucc355ful l1f3, bu7 17 h45 3n4bl3d m3 7h3 0pp0r7un17y 70 r371r3 1f 1 50 w15h. p3rh4p5 y0u 5h0uld l00k 47 my j01n d473 4nd 533 wh47 7h3 pr1c3 0f b7c w45 b4ck 7h3n.
It's cool how you can just scan past real fast with your eyes and you can read it easily, but if you slow down and look closely it's all gibberish.
Also funny to me personally as an old timers joke. I ran into an old friend recently and he's all like "yo dude, I told you that bitcoin was shit, it's like at 200 now!" and I'm like "DUDE! It was
2 dollars when I told you about it! You think I'm sad 'cuz we're
only at 200!?"
Anyways, you gotta learn to enjoy the sideways, it's gonna be with us for a while. Just think of it like lying on a beach out in the sun, relaxing and watching the gentle waves. "As low as possible for as long as possible"
1354.
Post 11608804 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
1355.
Post 11610782 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Moon?
The rise in bitcoin adoption is evident by observing the steadily increasing amount of new accounts at this forum. Several new bitcoin fans every day in this thread alone!
Bullish!
1356.
Post 11628219 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
<btcguild shutdown notice>
to bad them is the reality at this time. Pool helped move BTC into ASIC territory with the advent of stratum integration testing.
Also worth mentioning that the pool operator eleuthria played an instrumental role in resolving the fork back in the day. It was the first pool I ever mined at and I will shed a little tear when they shut down. Only silver lining is that hopefully bitminter's share will go up.
1357.
Post 11637883 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.17h):
Someone bought some LTC for $1000 each on OKCoin.com...
I see no indication of that on wisdom charts.
Pics or it didn't happen.
1358.
Post 11641126 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Yea I'm in USD.
I'm very hesitant about buying into a pump.
Really? We've had months upon months to load up and now, when the train is leaving, you have no tickets?
What have you been doing last six months?
1359.
Post 11641244 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
"The bank is spending 750 million pounds to improve its technology."
And people worry that PoW mining is expensive?
1360.
Post 11663685 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
happy now?
More like relieved actually, I hate when things go too far too fast, but what I really want to know is...
How can you remain so steadfast when the price is rising? Have you no fear of the runaway market like we've seen many times in the past? Or is it just different this time? What with all the options to go short that did not exist during previous bull moves?
Genuinely curious as I've not the stomach to go short when my gut is telling me the bear market is over.
1361.
Post 11664136 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
happy now?
More like relieved actually, I hate when things go too far too fast, but what I really want to know is...
How can you remain so steadfast when the price is rising? Have you no fear of the runaway market like we've seen many times in the past? Or is it just different this time? What with all the options to go short that did not exist during previous bull moves?
Genuinely curious as I've not the stomach to go short when my gut is telling me the bear market is over.
it's quite simple and easy: instead of your gut listen to your brain.
His brain's telling him you're incompetent.
Not incompetent, incomprehensible.
My brain did tell me that bitcoin might be something to take a closer look at, when my gut was telling me scam. That was back in 2011...
since then I've tried trading on margin, using my brain. I found that my brain could be fooled. (I also found that after ten winning moves, it only took one losing trade to wipe out all my profits, but that's just a learning experience)
After the last 4 years my brain has decided to just ignore the noise and wait for the big moves. You know, just like Jesse Livermore, you just need to find the line of least resistance. (Not as easy as it seems sometimes) I don't have the kind of clout to place market buys and sells large enough to gauge the market, so I rely on my gut (as did Jesse on numerous occasions) and right now my gut is telling me the line of least resistance is up.
It may take 6 months to a year, but I would be tormented by an extremely upset stomach if I were not long at this time.
(Obligatory disclaimer: Please don't take this as investment advice, perhaps I just ate some bad shellfish and my gut is angry for a different reason
1362.
Post 11664654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Just wanted to wish the short term traders congratulations and best of luck. These are the kind of moves that will save your week.
Beautiful retracement there, might want to cover now?
------------
On the other hand, I would like to reiterate what I'm seeing long term:
This looks like a bottom consolidation to me.. but I am full enough that I will wait for better prices, and I think many others are in the same boat. Block reward does not change for at least one more year, patience seems to rule the day, boring as that may be.
1363.
Post 11671296 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
just follow LTC. this thing is gonna moon.
it is just a pump because of the incoming halving. wait some weeks and see it struggling to be above $1.
LTC won't cause BTC to go up
Sideways all summer, see you in September.
1364.
Post 11675529 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Sideways all summer, see you in September.
What makes you think that?
Boredom.
1365.
Post 11675607 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.
January was the time to buy, sorry you missed it. $1500 could have got you nearly ten bitcoin! Even in March you would have gotten 6 or 7...
If you had "invested" and bought and held.at that time, you would still have those 6-7 bitcoins. If instead you've been gambling, and you now have only $1000 which can only buy 4 bitcoin today, well... take it as a lesson learned and try to make better decisions in the future.
1366.
Post 11675819 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.
January was the time to buy, sorry you missed it. $1500 could have got you nearly ten bitcoin! Even in March you would have gotten 6 or 7...
If you had "invested" and bought and held.at that time, you would still have those 6-7 bitcoins. If instead you've been gambling, and you now have only $1000 which can only buy 4 bitcoin today, well... take it as a lesson learned and try to make better decisions in the future.
Leave it to Captain Hindsight.
Hey now, cyclobro was the one looking back in hindsight, bemoaning his misfortune. I just clarified the mistake he made so that he could hopefully recognize and avoid making the same mistake in the future.
By the way, "captain hindsight" over here was giving the same advice back in January, if you recall...
... Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.
Based on your triangles closing, I would assume another day (or so) at current levels, followed by large dumps to 170$+ levels. Am I terribly wrong / bear-ish ?
What I see there, is that the volume increases as the price drops.
Could be an indication that a bottom is being discovered.
Also, volume dropping on price rise leads me to think that many are relatively happy with their current holdings and only looking to accumulate on the dips.
Until there is an influx of new participants that do not already have positions in this market, I do not think price will rise dramatically. If this influx of new blood does indeed happen, I would expect that the long term holders that have been suffering this market will not be willing to give up their coins cheaply.
Personally I think we could see sideways/downward movement for many months to come.
It would be the preferable situation for anyone looking to accumulate more coins.
"As low as possible for as long as possible"
Those who ignore the past are doomed to repeat it.
1367.
Post 11679104 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
This is the hype circle
Where does bitcoin fail now ?
Definitely the
Trough of Disillusionment!I like it, kind of got a poetic ring to it.
1368.
Post 11688362 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Waiting for over 4hr for my tx now... :/
Did you forget to tip the miners? err, pay transaction fee?
I sent payment during 20k utxo last time there was a "stress test" and it went through instantly. Verified first block.
I don't see any reason for the big panic and I think it's quite irresponsible of Hearn and Gavin to pretend like the sky is falling.
1369.
Post 11688861 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
The stress was very weak, unfortunately. From
this plot:
Estimated network capacity: 85 kB/min
Typical input tx rate before test: 30--50 kB/min
Typical queue size before test: 300--600 kB
Peak input tx rate during test: 126 kB/min (~3x normal, ~50% over capacity)
Peak queue sizes during peak test: 12 MB (14:00), 14 MB (21:30)
Sustained input tx rate for several hours after peak: 70-100 kB/min
Methink the test was necessary for people to pay attention to the problem.
The test showed that even a small player can create a large backlog with modest expense.
It showed that when the input transaction rate is close to the network capacity, even a small increase in that rate can create a huge backlog. Between 18:00 and 21:30, when the input rate increased from ~75 kB/min to ~112 kB/min (a 50% increase), the queue grew from ~3 MB to ~14 MB (a 370% increase).
The previous stress test (on a late friday night) used only free transactions, so the fee-paying transactions were delayed only slightly. This one used fee-paying transactions: it will be interesting to see how it affected the ordinary fee-paying transactions.
Do you know if there's a way to see what fee they paid? Was it like normal fee of 0.0001 btc? (About 2 or 3 cents)
If so, wouldn't a move to a minimum fee of say ten cents largely fix the problem?
Also, do you know why Satoshi decided to limit the block size in the first place? I mean, I've heard it was to prevent some kind of spam attack, but now people are saying that increasing block size will prevent spam attack... I've never seen a good description of the attack they were trying to mitigate by limiting block size in the first place. Best guess is simply to prevent bloat?
1370.
Post 11688988 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
I'm pretty sure I read somewhere that there was no block size limit in Satoshi's software. They added it later. He believed in game theory where things sort themselves out through risk and reward.
Not sure, but I found this?
"Andresen never mentions the actual reason that Satoshi imposed a block limit. Oleg Andreev, however, does:
Huge blocks could lead to excessive use of bandwidth which could lead to higher percentage of orphaned blocks due to higher synchronization delays."
From:
http://cascadianhacker.com/blog/2014/10/25_notes-on-increasing-the-maximum-bitcoin-block-size-or-why-it-aint-happenin.htmlIf bandwidth is really the only issue then you would think the 8mb compromise will likely gain enough traction to get implemented. After all, even with a 8mb limit, most miners will still be sticking to 750 k - until you provide sufficient incentive to change.
1371.
Post 11689168 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
I'm pretty sure I read somewhere that there was no block size limit in Satoshi's software. They added it later. He believed in game theory where things sort themselves out through risk and reward.
Not sure, but I found this?
"Andresen never mentions the actual reason that Satoshi imposed a block limit. Oleg Andreev, however, does:
Huge blocks could lead to excessive use of bandwidth which could lead to higher percentage of orphaned blocks due to higher synchronization delays."
From:
http://cascadianhacker.com/blog/2014/10/25_notes-on-increasing-the-maximum-bitcoin-block-size-or-why-it-aint-happenin.htmlIf bandwidth is really the only issue then you would think the 8mb compromise will likely gain enough traction to get implemented. After all, even with a 8mb limit, most miners will still be sticking to 750 k - until you provide sufficient incentive to change.
Yeah, exactly. You can have a higher limit or no limit at all and it's still a risk for a miner to build a block that big. It's going to take a longer time to propagate over the internet which means more time for another miner to find another (smaller/faster) block and possibly orphan yours. I'm sure the limit was created to prevent some kind of "large block attack" (to disrupt miners with slow internet?) but in reality, risk and reward will prevent most miners from increasing their block size very much even when the limit is officially increased.
Unless you had a situation where a very large miner (over 25% of the network) purposefully creates these large blocks because they can start building immediately while other miners have to wait to verify... One could imagine a scenario where a large miner could go on a run of consecutive blocks because of the slight advantage of starting on the next block first,
Example - F2Pool recently:
It's mostly due to dumb luck, but there is an advantage to building on your own block before anyone else, and increasing the block size will only increase this advantage.
(Note: this also makes certain types of double-spend attacks easier, but currently the block subsidy is large enough that it is still more profitable to "play fair"... what might happen in ten years under Gavin's plan when block subsidy is only 3.125 btc and blocks are 256MB however might get interesting, )
1372.
Post 11706604 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Anyone remember when the poll was posted? I picked 240 btw..
When is two weeks over (is it always two weeks in bitcoin time?)
Sideways all summer, take a break everyone, enjoy your vacations.
1373.
Post 11707089 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Because.......of... stuff?
Ok, no seriously, as a wannabe market maker, you would normally want to lay a tranche like that on either side. You make money on the spread by providing liquidity on both sides.
But in reality, if you put up a graduated wall like that, on only one side, you are just trying to support the price. Either this guy is already deeply long with sufficient fiat reserves to absorb the ongoing supply of coins from new blocks, or he (or they) are desperately clinging to leveraged long positions (Tarmi's wet dream)
When I try to imagine myself in the position to lay down those bids without sufficient asks to profit from volatility, I can only think
they are either certain of the outcome, or they are financially insane.Meanwhile, I still think we're going sideways, and I think that's a good thing.
Edit: on closer inspection, there does look to be a similar pattern, though much smaller on the sell side.
Could be a maker betting on an overall upward momentum... wouldn't be that outrageous a bet, but I think the really big players are probably using hidden walls and group moves and other tactics.
In any case, I much prefer a market that is open to manipulation than one where the ones who regulate get to decide who can manipulate freely without repercussions and who gets prosecuted.
1374.
Post 11727250 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
why are the stupid greeks standing in line to take their euros and not bitcoin?
Cuz if they already had bitcoin, they wouldn't have to wait in line to grovel and beg for "the bank" to allow them the
privilege of access to their own money?
1375.
Post 11727468 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
why are the stupid greeks standing in line to take their euros and not bitcoin?
Cuz if they already had bitcoin, they wouldn't have to wait in line to grovel and beg for "the bank" to allow them the
privilege of access to their own money?
Kudos for the lulz, I guess some bitcoiners are stupid enough to use "banks" as well...
I'm looking at you coinbase and circle users
1376.
Post 11729020 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Good morning Bitcoinland.
Still futzing along in the $240s I see, albeit with a slight upward drift.
Could be an interesting day, no coffee required to stay awake.
Yawn... Wake me up when we break and hold above 300. Anything less is just sideways to me. (Which is OK, I would prefer nice and boring until some time in autumn 2016)
Bank holiday in Greece on Monday would be something tho...
1377.
Post 11730533 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
Sure everybody in greece wont flock to bitcoin. But some people WILL put some wealth there. In a year we might look back at this as the catalyst that started a bull run. Already started at $220ish a couple weeks ago really.
Maybe very slow, very shallow rally? I hope? One thing for sure, (in my mind at least) the year-long downtrend is over.
Now expecting many months of the sideways...
I'm predicting we'll stay in this range for the rest of the summer at least...
1378.
Post 11731528 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
I can't believe you guys didn't tell me of this sooner! ->
http://www.parl.gc.ca/Content/SEN/Committee/412/banc/rep/rep12jun15-e.pdfRecommendation 1 (page 13)
The federal government, in considering any legislation, regulation and policies, create an environment that fosters innovation for digital currencies and their associated technologies. As such, the government should exercise a regulatory “light touch” that minimizes actions that might stifle the development of these new technologies.
Recommendation 4 (page 15)
The federal government, on an active and ongoing basis, work with other countries to formulate global guidelines for digital currencies while respecting the “light touch” premise outlined in Recommendation 1 above.
As well, the Committee agrees with witnesses that – at present – digital currencies have three main roles in Canada:
• a form of money;
• a commodity; and
• a payments system.
Is this the beginning of the Canadian renaissance in crypto? Or is Canada now just one big honeypot waiting for some heavy handed legislation to be applied "retro-actively" ?
1379.
Post 11732103 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.18h):
I don't think you are honest about your basic motives regarding bitcoin. I'm a 44 year old nuclear physics-guy.
Is there some sort of causality I'm missing here?
Jorge has successfully identified enough BTC scams over the years to warrant respect. Sadly, there will continue to be scammers as long as BTC attracts happy-clappy noob idiots who think they are financial geniuses.
I disagree with Jorge on most things wrt bitcoin, but he has more sensible stuff to say than the average poster. I am glad he is on the forum, despite his pessimistics BTC view.
Same here. Its healthy to have people with opposing ideas, for that is what can help grow. Now if Jorge were to start posting my little ponies BS...well he would lose credibility with me then.
Jorge has always provided a different perspective
without trolling. I think most people appreciate his commentary even if they disagree with the content. I still don't believe that he is a bystander only and doesn't own any coins like his signature proclaims.
Oh come on now, the professor is only human after all. To insinuate that he does not partake of the guilty pleasure of trolling is simply untrue.
Case in point.
http://www.ic.unicamp.br/~stolfi/temp/2014-08-03-bitcoin-alley-color-x640.png
1380.
Post 11740473 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
TOKYO, June 29 (Reuters) - The euro fell almost 2 percent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs.
Don't you love how they use the term "bank runs" instead of "lack of confidence"?
This subconsciously puts the blame on the ones trying to retrieve their money rather than the bank that doesn't have their money.
A simple narrative: "if it weren't for all these stupid Greeks lining up at the ATM'S there would be no problem." Same story with all fractional reserve shell games.
Also...
where are the "greece capital controls - bitcoin users not affected" memes
well you know how fast they are going to ban buying bitcoin in europe once they see people starting to avoiding capital controls via bitcoin?
You better do not want this to happen... Let Bitcoin do baby steps and not let it fall on it's head and get seriously hurt...
Baby steps indeed, if possible. "As
slow as possible for as long as possible."
1381.
Post 11740814 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
Shanghai composite collapsing.
Links help greatly if you're trying to share information.
1382.
Post 11740880 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
http://mobile.reuters.com/article/idUSL5N0ZE0EF20150628?irpc=932"Banks will be closed and the stock market shut all week, and there will be a daily 60 euro limit on cash withdrawals from cash machines, which will reopen on Tuesday. Capital controls are likely to last for many months at least."I read right over that comment the first time, but on second glance I have a question:
Capital controls for
months?! Is this normal? Was it to be expected?
I mean, everything's conjecture and rumor at this point... I've even heard bank holiday might last all week... but
months!?
Hoping for the best possible outcome, best of luck through this, you're effectively acting like the canary in the coal mine right now. Certainly the center of attention at the moment...
1383.
Post 11750391 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
price near to hit 260 $ , is it safe now to sell bitcoins or have to wait some more time before it achieves some peaks.
Sell now! Quickly! Before these maniacs take us to the moon!
Seriously, you all need to settle down now or you'll ruin my "sideways all summer" prediction.
1384.
Post 11750689 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
well we've broken into the 260's. Onward and upward fellow bitcoiners
Too much, too soon, too fast...
Slow down you maniacs, lol.
1385.
Post 11768391 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
He said then that the ban is on any transactions, including payments for hotel accommodation, flights, rental property and the payment of wages, as well as fixed prices in any other currency except the Indonesian rupiah. Breaking the law can be punished with imprisonment of up to a year or a fine of $15,000.
Declare fixing prices using other currency illegal, punishable by a fine of fixed price in other currency.
Brilliant!
1386.
Post 11785292 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
I thought I had 'big brass ones' just hoarding all my LTC you Sir have such big brass ones you must 'clank' when you cross your legs...
I sir salute you! and shall cower in the LTC trenches as you march towards the sound of ASIC guns
(shudder soooo scary)
I'm just playing with house money, take a shot here and there and hope it pans out.
I'm curious though, how much litecoin per month per titan are you getting? I think the Neptune were down to about 1.5 btc per month each before summer heat got to me and I turned them off.
1387.
Post 11785419 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
I just did an estimate of the "Bitcoin National Debt" (BND), which is the minimum amount that the bitcoin system "owes" to the people who are holding bitcoins. It is between 483 million and 17.2 billion USD.
For example, someone who bought 10 BTC a year ago must have paid close to 600 $/Ƀ, the market price at that time. Therefore, he must be expecting to get at least 6600 $ if he were to sell or spend those bitcoins -- the 6000 $ that he invested, plus 10%/year of return. By doing that math for every bitcoin and adding the results we would get the BND.
Unfortunately, there is no way of knowing when any given lump of bitcoin was bought by its current owner. The purchase may not even have been recorded in the blockchain (e.g. if it was bought in an exchange and left there). We can only assume that the last purchase of a bitcoin that was mined on day X will (almost) surely have occurred on date X or after that. Therefore, by looking at the minimum and maximum price in that interval, we can get uper and lower bounds to the expectations of its owner.
For example, the 25 bitcoins that were mined on 2014-04-01 (when the price was ~450) may have been bought by their present owner(s) on 2014-06-01 (when the price was at its highest, ~680) or on 2015-01-14 (when the price was at its lowest, ~150). So, the current owners of those bitcoins, even if they are happy with a 10%/year return on investment, now expect to get from them between 25 × 150 $ and 25 × 680 $ plus the 10%/year.
I may post more details later if I get the time.
Too many variables to draw reliable conclusions concerning cause and effect, but could make for interesting data points in themselves.
"National debt" is wrong, even with tongue firmly in cheek, a debt is a promise to repay... which bitcoin doesn't promise. The exchange rate volatility risk is foisted upon current owners and traders (not rights to future labor and income), and rightly so.
Maybe "bagholder pain index" or BPI can be produced, at least partially, with this data.
What happens to "bagholder pain index" when price exceeds $1200 ? Do we reach negative pain? Just like negative interest rates?
1388.
Post 11787657 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
Not to ruin the plot... but it's over already. The panic was less than impressive.
Of course. It was just an accident, some core devs were awake watching anxiously the onset of BIP66, the two pools involved cooperated promptly, etc..
That was not an attack: someone just sneezed. See, the building stopped shaking already.
Right. If bitcoin can survive the scorn and ridicule of a Brazilian professor, it can survive this little kerfuffle.
This will just be used as ammo in the argument against larger blocks (rightly so, imo)
1389.
Post 11789494 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
btc is dooooomed?
Maybe.
LOL! You know you've made it when the future president of the United States is twittering about you!
You've come a long way, baby.
CCFS (choo choo forever sideways)
1390.
Post 11790451 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
Guys, I'm new to this trading stuff. Does this sort of thing have a name? It means we're gonna keep chooching, right?
Sorry Sandy, your timeframe is pathetically short. Try to think bigger! Like this!
If you're trying to mimic or ridicule me, at least put in some effort!
1391.
Post 11791236 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
plz tell me because I'm new & have much to learn about Bitcoin trading.
Since you are "new" I'll let you in on the secret.
[...]
I'm predicting we'll stay in this range for the rest of the summer at least...
Sideways all summer, enjoy your vacation.
1392.
Post 11792643 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
Slow and steady up to $600 300 over the next 3 months.
Confirmed!
Fixed!
1393.
Post 11800357 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.19h):
That Litecoin pump was pretty predictable.. People are actually interested in crypto's but bitcoin is just to expensive..
just buy half a bitcoin.
This. I still don't know why the litecoin pump is still going on, I expected it to crash after the $4.75 USD mark... any idea how long it'll go? Not even sure why they are trying to pump litecoin... is the sole reason why they are buying LTC instead of BTC just that LTC is cheaper?
People bailing into litecoin because it's not about to be ruined by Gavin.
1394.
Post 11809594 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.
Those banks can't handle even one full day of withdrawals. depositor's haircuts?
What happens after banks are closed for two weeks? Civil unrest? riots?
"OXI" on the referendum is not the end of the story. It's just getting started.
Greek banks will be closed tomorrow.
And in the mean time idiot dumpers keeps dumping.
Hello idiot dumpers buying back above.
Can you believe there are still people dumping?
Have to admit, I do miss that avatar along with the owner's ramblings...
These traders just can't bear the thought that their coins are worth more money. Just keep dumping you idiots!!
An offering, in everlasting reverence of our deadly departed...
1395.
Post 11810051 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.
Those banks can't handle even one full day of withdrawals. depositor's haircuts?
What happens after banks are closed for two weeks? Civil unrest? riots?
"OXI" on the referendum is not the end of the story. It's just getting started.
they have an ingenious idea how to fix the 'interest to infinity' debt slavery system that is broken atm .. they are going to print up some more euros and extend an emergency loan to greece but they have to promise to pay it back this time for real.. scouts honor. and then they plan to release a new fiat reserve currency which will be superior to all the rest since this new fiat reserve currency will not have cash. that will stop the bank runs once and for all. they don't need a blockchain. that would hamper their ability to steal (corruption) and to add more 1's and 0's to make more money on the fly. -5% interest rate to keep your money in the bank (like u got a choice in a cashless system). they can stretch that 'interest to infinity' debt slavery system out for at least another ten years.Very astute. The money doesn't matter. The amount they owe, it's flexible... they can negotiate.
What is most important is that they continue to owe, and they continue to pay.
It's not about dollars, or Euro, or Drachma. It's about power and control. It always is.
1396.
Post 11810121 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Anybody worried about this yet?
Thanks
flat earth 1MB maxblocksize aficionados!
Nah...
A Peer-to-Peer Electronic Cash System*
*
A limit of less than three transactions per second occurring on planet earth may apply.
It's about monetary freedom.
If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.
There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.
1397.
Post 11820110 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Meanwhile the currency of the future continue to get choked with spam txs.
Will there be daily stress test? Bears might open a Donation fund..
https://tradeblock.com/blockchain/Transactions
52,091
Total value
62,656.70
Total fees
2.8217
Total size
44.54 MB
A lot of these lately? From Blockchain.info
"Warning! this transaction is a double spend. You should be extremely careful when trusting any transactions to/from this sender."
Also this (and others like it) keeps showing up.
"Public Note: SPECIAL OFFER ! SEND NOW 0.01 TO THIS WALLET AND GET 0.02 INSTANT ! OR SIMPLY CHOSE ANY MUTIPLIER & BTC AT XmyBTC.COM - ( this offer is valid one time only )"
Increasing the block size does nothing to prevent or dissuade this spam.
The double-edged sword of censorship resistance.
1398.
Post 11820374 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Greeks want more money from all Europeans.
Why not? Who wouldn't want more money? They're just printing the stuff out of thin air!
http://www.economist.com/blogs/freeexchange/2015/03/quantitative-easing-and-euroIt's monthly purchases will rise from around €13 billion ($14 billion) to €60 billion, and last until at least September 2016.
1399.
Post 11822036 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-failsChinese equities have lost more than $3.5 trillion of value in less than a month
And you thought bitcoin was volatile?
1400.
Post 11827276 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
just a question, how many of you do actively trade bitcoin currently?
"Actively" is a vague term. If by actively you mean daily, or even weekly, then no.
I do trade, but I don't try to guess the market. Last time I sold was at 900+ and last time I bought was at 270 CAD. (Though I was buying from 600 and down, buying heavier as we got lower)
If price goes back under 300 CAD I will buy again, if price goes over 5000 I will sell some. So yes, I trade, but I'm only "active" when I like the conditions. Right now, my position is set, and I'm just watching the market go sideways. (Slight upwards tilt is nice, not gonna lie
)
1401.
Post 11836973 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
...
I tried shorting litecoin, but not lately. Every time I exited with a tiny loss, just before a pump.
So I think it's still risky, I will only short it if I get the timing right, before the huge red dildo (that will surely happen).
yes, it's a risky business but somebody still has to do it.
I dont mind if others arent at it, that means just more money for me.
I wonder what happened with tarmi's litecoin shorting, in the 4 days since he posted this the price doubled.
While I did pull a few hairs for missing out on this incredible pump, I sure didn't try to short the chickun.
You don't need to wonder, just look at his post history, tarmi
never loses a trade.
Here's what likely happened...
1402.
Post 11837216 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Fucking Litecoin's stealing our thunder
Here's a thought, I think there is a significant difference between bitcoin and litecoin miners. (random crazy thoughts courtesy of searing from when he said he was making around 500 litecoin per month with his titans. But he's not selling any... while I was only making around 3 btc per month burning about 5000 watts with my Neptunes)
I bought the same deal he did, when originally offered by knc, but I stuck with the Neptune (bitcoin miner) plus the bonus one instead of taking the option of receiving a titan (script miner) like searing did.
Setting aside the decisions of the past, one thing did strike me. Most bitcoin miners sell most of what they mine. I don't think there's any way to keep a large mining operation running if you don't.
Most litecoin miners - or at least a significant portion - are like searing I suspect. The market for scrypt Asics was much smaller than the bitcoin ones and the scrypt miners seem to have less electrical overhead and seem to be more hobbyists who are hoarding rather than selling...
It's just a thought, but there is definitely a different dynamic between bitcoin and litecoin miners. If the distribution of litecoin mining hardware remains more decentralized as the total scrypt hashrate continues to rise, one could even imagine a point where litecoin becomes even more secure against attacks from centralized effects than bitcoin.
I don't know what will happen (nobody does) but if you were to follow this theory to it's conclusion, litecoin should reach at bare minimum a 1/4 valuation to bitcoin, and could conceivably reach parity or surpass bitcoin. (This scenario would require several devs to abandon bitcoin and move to litecoin... doubtful, but not impossible)
1403.
Post 11837768 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Calm before the (bull)storm?
Can we just change this to the litecoin observer for the next 48 hours?
If this
isn't the top, then the top is gonna be something spectacular!
(Fucking tiny pic won't take my images any more, any one have a suggestion?)
1404.
Post 11838056 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
This litecoin rise won't brake anytime soon. Couple of other interesting btc-e coins will see even bigger gains in the close future.
This was all predictable if you knew more then to buy one type of coin and then just sit on your ass, trying to pray for success.
Ah Mervyn, if only we could all be as genius as you.
Care to share which "predictable" coin we should start pumping next?
It all seems so disingenuous when you only tell us of these "predictable" outcomes
after they happen...
1405.
Post 11841349 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
For once in my life, I finally made a great trade.
In my portfolio I had 3000 LTC from all the way back to 2013, was going to hodl it until LTC hit $100 (yeah I know, so pretty much forever).
Made the decision to trade it all for BTC the day before yesterday at ~$5.5. Got around 60 BTC for it.
Then watched LTC climb higher the following day. For a brief sec, felt a little irritated. But then made peace with my decision. My goal was always to try and get more BTC, and I did.
Woke up this morning, and felt even better about my decision.
Of course, these lucky breaks never come very often for me...
Well done sir. Kudos.
1406.
Post 11852373 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
I am assuming that once we pass the $300 mark things really start getting fun.
I am a little frustrated today though. My husband told me that his aunt, which decided to purchase a few coins at $650 a while ago, called yesterday and wanted to bail out and told him to sell them all (he was holding them for her because she seemed to have difficulty with computer security). Really? Right when the rally is just getting started? Sigh. Now is the time to buy or at least HODL!
That is the definition of a weak hand.
I don't feel sorry for those weak hands. If you can't keep your BTC safe, sell with loss. People who realise this opportunity will gladly buy them coins and make huge profits on short term.
When it is family it is hard not to feel sorry for "weak hands".
We will probably just pay her the difference later when the price increases, but that means that we are losing a couple grand just because she got scared and bailed.
I would have just sent her cash and kept the coins but we are not that liquid right now. Most of our extra cash is tied up.
That would be the worst thing you could do (ok, maybe not worst, that would be just telling your aunt the bitcoins were lost in a tragic boating accident and giving her nothing.)
You may think you are being "charitable" but you are doing her and yourself a disservice. Losing money is how the market teaches lessons. If you bail her out she learns nothing, and you punish yourself for being right. It may be some kind of ridiculous, err, religious self suffering sacrifice thing, but don't kid yourself, you're not doing anyone any favors here.
(Actually, upon reflection, I think I was right the first time; bailing out your aunt *is* the worst thing. At least if you were to keep the bitcoin and give her nothing she would learn a very valuable lesson about third party risk and you would be richer for teaching that lesson.)
1407.
Post 11855348 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Am I the only one looking for a small scalp short for a correction?
I mean yes sure it's bullish, but it doesn't mean it doesn't follow any general market behavior ...
Don't you remember the "general market behavior" of bitcoin from November 2013?
What if this time it's *not* different?
-------------------------------------------------
I'm not trying to advise or chide you for your strategy, everyone does it there own way, based on their own preference and experience. I'm sure you're not the only one looking to scalp the market and that's why it will probably work like a charm...
I'm just posting a reminder that sometimes the market does not act as you think it should. If we have anything like a repeat of that fateful month in November 2013, I will be glad to be well set in a long term, non-leveraged position that was accumulated slowly in the 200's rather than trying to buy back in after a scalping attempt gone wrong as the market runs away from me.
Best of luck everyone.
1408.
Post 11855452 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Maybe I am wrong and stupid but I am shorting this for now.
I'm pretty sure you're not stupid, and I hope you're not wrong. A sharp pull-back from here would keep us in the 200-300 range I've been hoping would last all summer. Also would be a real kick in the teeth to all the building hype, so there's that tendency to move in the direction of most pain thing...
But if we break above 300 and stay above 300? -- to me it would be analogous to when we broke and held above $10 after spending almost all of 2012 at +/- $5... meaning not a good time to be in a short position.
1409.
Post 11855639 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
For those who don't know, masterluc has made some exceedingly accurate calls in the past - just check his history, he's one of the best and most consistent analysts that posts here in my opinion. here's my personal favorite:
No legit target during few years. Fuck it, I go away.
that one always made me grin, and made the inexorable drop over the next year more bearable, if only because it was expected...
Well, he's back, and never have I seen such a bullish report:
Bubble confirmed 99%. Fasten your belts.
Weekly rsi close above 50
Weekly SS also there
Weekly macd approaches to zero line
Weekly ADX on low start
Price close above weekly BB
Here we go.
I'm still hoping for a flat summer. "As low as possible for as long as possible." But I'm afraid the accumulation window is closing.
Best of luck gentlemen.
Analysis never ends
1410.
Post 11855854 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
That is exceptional.
Now somebody short the hell out of this and let's retrace a bit.. please?
You maniacs!
LOL
1411.
Post 11855940 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
stamp is the most important exchange. they have to cross 300.
Why do you consider it the most important? It's withered considerably since its hack and all that juicy leverage has enticed traders elsewhere.
As long as this is just a fakeout spike before the dump, then everything is gonna be ok.
If, however, this is a legitimate run on bitcoin, the higher price at one exchange will trigger buying at other exchanges in order to transfer for arbitrage. This type of event can expose whether an exchange is solvent or not. Chinese fake volume will not cover up a real run on bitcoin...
Speaking of which, has anyone come up with a reasonable explanation for that crazy spike on huobi, btcchina and okcoin yesterday? (just the litecoin dump, right?)
1412.
Post 11855995 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
stamp is the most important exchange. they have to cross 300.
Why do you consider it the most important? It's withered considerably since its hack and all that juicy leverage has enticed traders elsewhere.
observation. often huobi/okcoin/finex are moving but stamp doesnt move one inch and after a short period of time they all come back to stamps price level.
finex and especially the chinese exchanges have so much meaningless trading volume that i think even after the stamp hack they are still the leaders.
edit: you see? just like this time. finex went to 308 and stamp didnt move one dollar and finex had to come back to 302$ again. stamp is still the boss.
Hmmm, what happens if stamp breaks over 300 also?
1413.
Post 11856021 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Dang $300 happened on a Saturday/Sunday depending on where you live. This bull run has been amazing, I keep expecting sideways or back down after 18 months of hell. Anyways, looks like some heft resistance between here and 310 so this might be a good spot to take a breath.
That spike might have just been some shorts closing or re-positioning... in any case, it was not the reaction you'd hope for as a buyer.
Slow and steady. It's like the new, grown up version of the bitcoin rally.
1414.
Post 11856355 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
What's up with Stamp?
Stamp is like that friend who is the voice of reason, trying to get you to think about what you're doing before you go full retard... until he gets drunk and goes over 300 too. And then the party gets interesting.
Oops! To late! Bitstamp had now arrived and the over 300 party can officially begin!
(Sarcasm, kinda)
1415.
Post 11856920 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
fuck the bear market fuck the sonsobitches whos life purpose seems to be to slam the price lower to buy back at profit at everyone elses expense fuck em ! why do we *have to* go down when most everybody wants a higher price aside from the *maybe* couple hundred well funded bear manipulator leverage short dumpers ? deal is if we run past 300 and stay there, the shorter dumper manipulators are done screwing the market below that - they lose at that point, by varying degrees - be it a stable 300 or a run to 350 or 400 or giant pump to 500 and beyond - they've banked on being able to hold the price below 300 indefinitely - NOW is the time to price them out of the market and end the bullshit downward manipulation ! force the bears out ! keep the price above their loss level ! this is the only way forward !
300 did not hold. Market is not ready.
Do not argue. Market is always right.
Patience or panic; It's your choice.
1416.
Post 11857029 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Wait so are we panic buying or not? I'm so confused...
It's like genetics:
Have bitcoin. Don't have bitcoin
|-----------------------------------|-----------------------------------
Bullish. | Hold (patience) | Buy (panic)
------|-----------------------------------|-------------------------------------
Bearish. | Sell (panic) | Wait (patience)
Of course, to try to keep it simple, this disregards more exotic options using leverage.
If you never took high school biology, I'm afraid I may have confused you further.
1417.
Post 11862574 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Current trendline
Well. When you put it like that, it almost looks sustainable.
265 to 305 only in 3 days. It's clear that we are in a bull market now.
Carry on, you maniacs.
1418.
Post 11862689 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.20h):
Now what would you suggest? I have sold few bitcoin at 305 dollars and now I am holding $$.
If in doubt, please refer to the chart below for all your decision making needs!
Have bitcoin. Don't have bitcoin
|-----------------------------------|-----------------------------------
Bullish. | Hold (patience) | Buy (panic)
------|-----------------------------------|-------------------------------------
Bearish. | Sell (panic) | Wait (patience)
(Note: any decisions made by following the above chart are not endorsed by shmadz.corp and this is not intended as investment advice
1419.
Post 11874436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Congratulations to everyone who took the following advice last night:
BREAKING NEWS: Deal has been reached with greece, sell everything now.
Nice call esse, nearly what? 10? 15 minutes lead on that move?
I regret going to sleep early last night. It seems I missed most of the fun.
I'm still long, and will remain long until over or around 5k, but I do have a few coins that I don't mind splashing around when opportunity presents a chance. Alas, I missed out on this one.
Overall pressure still seems to be building towards the bullish side. I would prefer a more decisive retracement back to 220 and stay within the 200-300 channel for several more months, (as low as possible for as long as possible after all) but it seems the bullish momentum has us now firmly in its grip.
"Exciting time in the world right now. Exciting time." - Mr. Robot
1420.
Post 11906385 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Bids growing, asks growing..... who's bluffing?
Hmmm, bluffing, - pretending - faking - posturing... a charade.
Our entire globalized, inter-connected economy is built on bluffing. It's just a whole lot of debt that can't ever be paid back and the only way forward is more debt.
So what's your take?
Is someone who holds a large position in bitcoin bluffing the system?
Or is it the incumbent? The person who has been profiting from this fiat debt charade; the person who's livelihood depends on the continuation of the charade; the person who's fortune could be destroyed by the slightest disturbance in the status quo?
There are some hands in this game that will not be shaken out. Go ahead. Call my bluff. I'm all in.
1421.
Post 11906489 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
I've been out since the end of the OKCoin ddos pump. Missed out on the rise, unfortunately, but I'm not getting burned by this downtrend either.
I've been
in since the end of the $32 pump back in 2011. Missed out on nothing, fortunately, but I'm not totally immune to this downtrend either.
It would be nice to never be wrong, but I think it's ok to be wrong every now and then as long as you're right when it counts.
(Edit: I didn't mean to sound like I got it perfectly right, I just mean to say that the market can move fast and it's much better to be on the right side when it does.)
1422.
Post 11906716 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
I'd be nervous NOT to be in right now.
I think it's prudent to be nervous on both sides of this bet right now. It's always been a risky play.
I think the decision comes down to "1- does this technology work? 2- Will it survive attack?"
If you believe both of these questions resolve to yes, then the potential returns on investment should outweigh the risk.
If you have doubts? Then your risk assessment might not allow for such a speculative play.
Personally, I think there is a significant risk of attack from within. There exists an attack vector where one person or one group becomes the incumbent contributor to the bitcoin code. If changes are not sufficiently challenged and vetted there exists a real threat that someone could be coerced to add some seemingly innocuous code (expand the blocksize to 200 MB perhaps?) Which would effectively kill the bitcoin protocol as a censorship resistant form of transferring value.That being said,
there is a group which concentrates on purifying the code and removing unnecessary cruft from the code base. Luckily, because of the nature of the consensus mechanism, it is unlikely that any change will be allowed to happen absent the approval of said group.
1423.
Post 11906884 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Prepare for a fun weekend as money hits the exchanges
Generally speaking, money does NOT hit the exchanges on the weekends...
Generally speaking, JJG used to use many more words.
I, for one, prefer the new posting style. Welcome back Jay!
1424.
Post 11911846 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Have you sold any Bitcoins to Greeks through local Bitcoins yet? They were selling for way above the market rate last week but I haven't heard how much they are selling for since the Grexit fears subsided. Somebody from Greece quoted a very high figure last week and I'm interested in hearing if it's still the same.
This looks like a bargain for spending some bitcoin in Greece. I wonder if they will take bitcoin?
http://www.privateislandsonline.com/islands/isle-of-gaia
Name: Isle of Gaia
Region: Greece, Europe
Location: Echinades Group, Ionian Sea
Development: Partially Developed
Title: Freehold
Type: Private Island
Price: USD 4,637,438 convert
Status: For Sale
Size: 43.00 Acres / 17.40 HA
That is a beautiful island. 4.6 million seems a little low. Also the current conversion rate is not favorable for doing real estate deals.
I'm waiting for at least prices exceeding $100,000/btc before I start shopping for islands. 40 - 50 bitcoins for that spot sounds reasonable.
1425.
Post 11912436 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Australia? Well, some islands will be more expensive than others...
Apparently, there are Approximately 180,497 available islands in the world. ->
https://answers.yahoo.com/question/index?qid=20090510184804AArokSMThat means an average of 21,000,000/180,497 = an average of =116.3454240237 per island.
Keep in mind this does not take into consideration that some islands will be with more than others ( see Australia ) or that bitcoin might be used for other things than buying islands. For example, yachts, Ferraris, castles, etc...
I still harbor hope that for a princely sum of 50 or 60 bitcoins I might someday be able to buy my own island. I do not imagine it might be as nice as some of those depicted.
http://www.privateislandsonline.com/islands/near-batteau-islandMore like that, I suspect.
1426.
Post 11947437 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
Wherefore art thou Chartbuddy?
You're late. AWOL?
Even bots needs some rest
^^Best quip I've read in days.^^
Well done Mark.
1427.
Post 11965812 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
soon 1 oz of silver will be worth 320+ bitcoins ..
Excellent news friend! Let's do some maths!
Soon 1 btc = $32,000
Soon 1 oz AG = 320 btc = $10,240,000
I found a silver quarter in my change the other day...
when is soon so I can go to the coin shop and get my millions?
1428.
Post 11967431 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.21h):
https://www.youtube.com/watch?v=lgUcqOK_kPM - bitcoin technical analysis
First guy second guy? pretty much nails it, 275 support, 295 resistance...
Just wondering if any of you guys watch these guys?
1429.
Post 11967758 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Long term MA is now flat. Bullish!
Great! Just like December 2014
Not quite. The indicator never changed direction in December, the price remained lower than the average, so the average kept going down (very slowly so it only
looks flat)
More similar would be June 2014 when it flattened out and reversed direction. (Failed rally, bearish signal, short term average cross few months later confirmed)
If the price remains above 250 that long term moving average will go from flat to up. This combined with the decisive short term average cross couple weeks ago just adds more technical evidence that the market has indeed turned around.
If we can just get some big dumps and move the price back down to 250-260 range we can at least get that short term line to come back and touch the long term and introduce some uncertainty... That perhaps could buy us a little more time, but the overall direction is looking up, and time is running out.
1430.
Post 11968126 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
speaking of walls, the stairway on bitfinex's bid side has been a permanent fixture throughout this upward movement of late. Accumulating? Trying to shore up support? Some kind of arbitrageur?
I believe they call that a market maker. (Actually, everyone that has an open bid or ask is doing the same thing basically)
You just build a tranche on either side and soak up volatility, providing liquidity.
If your fees are low enough and the market stays in a range, it's great. I stopped doing it somewhere around last summer because virtex fees were 1.5% and most importantly, the market was moving mostly one direction.
1431.
Post 11971751 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
I'm missing the funny good old times with much drama in Bitcoinland.
Nobody willing to start a new Bitcoinica or play a pirates game?
Sideways all summer old-timer. Just pull up a rocking chair here on the porch and watch the long-term moving average turn to the positive.
Unless some kinda tornado kicks up real soon, there be a reversal cummin', and how!
Still not technically turned up... Still time for heroic bear dump to save us from the summer pump !
1432.
Post 11978424 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Everyone should do a price prediction in their 1000th post. Such a waste.
what would you propose for 5000th post?
Bitcoin giveaway, if you earned a lot with the forum?
we'll see how the finances are doing when i reach 5000
if they arent doing to well, ill start deleting posts lol
I'm planning the "post parity party"
When my posts hit 5000 so does bitcoin price. (Don't hold your breath, more than 3000 posts to go
)
1433.
Post 11999483 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
but but... Everybody said it's sooo different this time!
Why aren't we above 315$ yet ?
Stability is different.
Sideways all summer.
1434.
Post 12017161 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
We're down 3 USD today, what is all the panic about? For real world terms 3 USD will buy you a coffee or a burger.
That is literally the price loss over the last 12-24 hours, let's all calm down shall we & see how this plays out. It's not exactly time to start tying a noose & hang ourselves
3$ when you have 200btc it's a loss of about 600$, it every depends on how many coin you own, if u have 1 o worries but if u have more a dump of 10$ would be a lot of money
I'm down a few hundred thousand from last year, up a few hundred thousand from 2 years ago. A $3 or $600 loss is no big deal when you think of how much you'll be up this time next year.
Rather telling when the ones with the most skin in the game are the most calm.
Sideways all summer. As low as possible for as long as possible.
1435.
Post 12025216 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
So Mark is basically the creator of the May/April 2013 bubble and the December 2013 bubble...
Lets see where the price of btc really bottoms out...
I suspect we are going to hear this a lot from bears on here in the coming days and weeks. This and the 'Japanese bankruptcy court to force liquidation of 200,000 coins!!!' and 'when is the next USMS auction' is really all the bears have now.
Bears need some pretty heroic selling to move the price down. It may come. But not from any of you lot.
well that's a lot more then the bulls with their "Pray to the Moon train" tactic have...
The bulls have time on their side. You just wait and see.
1436.
Post 12025838 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
let's see what will happen:
Re trace to 250 would be best case scenario for me. A little too ambitious I think but I'll leave my bids where they are and re evaluate after the long weekend.
Best of luck everyone, enjoy the weekend.
1437.
Post 12056696 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Ahhh, the good old dog days of summer... price is just barely limping along... feels like it could drop any minute now, but support has been pretty strong (or perhaps the sellers have just run out of steam?)
s-i-d-e-w-a-y-s a-l-l s-u-m-m-e-r
1438.
Post 12065161 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Im so excited about the halving, whether you think its going to go up or down no one can argue that the uncertainty is gonna bring some volatility so us traders can finally make some good money again.
its sentiment like this that reminds me of weird Twilight Zone episodes.
The Block subsidy is inflation that devalues all our savings, it also necessary to incentivize security. It,s not so much a reward halving, it's a transaction cost subsidy halving and inflation halving.
The halving is a scary time, it's a big culling and a shake up. The last halving was anticipated by a big run up and then a slump, it wasn't until the drop in inflation kicked in and the liquid supply dried up that the markets went wild.
ultimately I think the same thing is going to happen again, except this time it'd different, there is more risk, bigger investments at stake and I think well see some a more volatile trend line and its going to be harder to predict.
make no mistake nothing is a given there is risk.
Well said. "The halving is a scary time" indeed. The market does not like uncertainty.
Once the halving is past and the block size debate has been settled, I think we might see the moon pop out from behind the clouds, for a while... (always new clouds on the horizon)
1439.
Post 12065188 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Im so excited about the halving, whether you think its going to go up or down no one can argue that the uncertainty is gonna bring some volatility so us traders can finally make some good money again.
Well, after the last one on 2012-11-28 the price basically remained flat for 5 weeks.
There was a rally after that, true; but before and after that halving there were several other rallies and crashes, which can hardly be consequences of it. So, there is no good reason to think that the Jan--Apr 2013 rally was connected to it, either.
Things may be different this time, of course. However, I would guess that the only direct effect will be a drop in the hashrate. If that happens, there may be indirect negative effect on price.
My estimation puts the creation cost of each bitcoin very roughly at $200 (normalized electricity cost and neglecting spent capital for the mining hardware)
If the price reaches approximately double that in or around this time next year, I expect the hashrate would be sustained.
1440.
Post 12073604 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
I don't think it will happen any time soon either. Just look at the trouble they're having with obviously needed changes, like block size.
No, Bitcoin will likely remain unchanged (and in beta) for the rest of its life
It will happen if bitcoin fails to be a plausible currency due to its inherent 'deflation by
design configuration'.
If people cant buy bitcoins because they are all owned by folk who want to hoard them,
then they will go elsewhere.
Already started...
1441.
Post 12077523 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Did anyone buy ETH?
Currently trading at 150x ipo price!!!
(well 25btc worth but still lol. Actually trading at 20x ipo)
Where is this trading?
1442.
Post 12077627 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Did anyone buy ETH?
Currently trading at 150x ipo price!!!
(well 25btc worth but still lol. Actually trading at 20x ipo)
150x? Really?
Damn I was thinking about getting like 2btc worth of ETH back then when it had was 20k ETH for 1 btc..
mhh shit happened
It was 2k for 1 btc right.
Correct. It started at 2000:1 and slowly went down from there...
1443.
Post 12082265 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Achtung Bitmenschen!Bitfinex is modifying account privileges for New York Residents, effective August 10th, 2015.
Account & Service Changes
All New York Residents must withdraw all cryptocurrency balances currently held on Bitfinex by 4:00 pm EDT on August 15, 2015. ...
As New York Residents may no longer keep cryptocurrency balances, they will no longer have access to the following features on Bitfinex.com.
started on poloniex already
Best news I've heard since Australia got a clue and fixed their GST rules regarding bitcoin. I hope more bitcoin companies shun N.Y. - maybe eventually they'll get the message.
Finex shoulda linked to
http://pleaseprotectconsumers.org/ though.
They really need to list the emails of every N.Y.politics whore on that page. nm, just scroll down, all the politico douchbag info is indeed listed.
1444.
Post 12086191 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.22h):
Any Bad news?
What is up with this dump?
The dump
is the news. Most exciting thing to happen all week!
1445.
Post 12090755 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Welcome back Tinkerbell, I missed ya...
Now. can i have that gif of a pink pony on a trampoline?
I just need to quote this as a reference in case I ever start to question the professor's true motives regarding bitcoin.
Not even pretending to employ any semblance of professional academic indifference any more, are we professor?
Very well, carry on.
1446.
Post 12091669 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Sideways or down... is my guess.
Upside is gonna be in a little while longer... I think a buy now would require some Hodl. Yet I'd not wanna wait for the surge so a bid on the current price is my move... i'm ready for some hodl.
I knew this drop was coming and I think testing the bottom limit is too risky. I'd be very surprised to see 250 give way... we've already had three waves of decline. There isn't any significantly bad news to push it down much farther. This drop is simply do to the unfulfilled promises of the 300+ BTC.
I think people suggesting lower than 250 should have a very good reason.
I see sideways as the foreseeable future. Then back up.
"Sideways all summer"
We've been trading in a wide band between 220 and 300 roughly for several months now. Patel had targeted 250 before another test of resistance at 300, and it's totally plausible.
Personally, I hope we continue within this range of consolidation as long as possible. High probability it lasts at least until the end of the month, medium possibility we could stay in this range till the end of the year, maybe until early next summer. VERY low possibility that we are still in this range by the time the next American puppet, err, president gets selected, err, elected.
1447.
Post 12097611 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Alright! This is it! Finally gonna get those $250 bids filled!
Come on, big dumps, no whamies, STOP!
Or is this just a tease?
:/
1448.
Post 12097966 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Bids are back on finex, but bear in mind that they can easily get removed again. The guy/entity probably has a script running on the API to remove bids if the price comes within a certain % range of it. In conclusion, don't get fooled by the orderbook.
Well spotted. There is support, somewhere, but don't be looking at fake data and hoping to find truth.
This is what a market
is. It is nothing more than a price discovery mechanism. If the market were purely open and transparent, would it be a better indicator of value? Who knows? It would be an interesting experiment, but we have no markets currently that are
not manipulated from which we might harvest useful data or glean useful information...,
so; in the end, speculation is the driver of the market. Thus, gentlemen, your work is cut out and laid before you.
Best of luck.
1449.
Post 12099321 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Seems like 300$ dream is dead
Yeah, the dream is dead forever, never reach 300 ever again, dump everything you have, fiat is the only safe money, your government knows best, don't bother thinking for yourself, trust in what you are told by the Telescreen.
War is Peace.
Freedom is Slavery.
Ignorance is Strength.
1450.
Post 12100221 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Chin up, Buttercup!
Awww, thanks lamp chop, I can always count on you to cheer me up!
(Also, chopinscript? Really? ---Nice touch.)
1451.
Post 12109105 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
I don't think that the 5000$ fee was a the problem with BFX.
Please bear in mind this is only the non-refundable application fee. Still, if you spread that across all 50 states it would be a cool quarter million, right off the top.
It was estimated that staying compliant for a nationwide bitcoin business would cost roughly half a million dollars per year. You've got to keep a compliance officer on staff (or several, depending on the size of your operation) you've got to file your quota of suspicious activity reports, and of course you'll probably want to hire Lawsky's consulting firm, not because they'll help you remain compliant, but because they will know exactly which palms to grease to keep you on the good side of the regulators. Don't feel like retaining their services? Don't be surprised to be at the top of the list of random audits.
This whole banking regulatory system is a scam and it stinks to high heaven.
1452.
Post 12118278 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
This has has everything to do with China dropping the dollar peg. Currency wars (where every player tries to LOSE) are great for Bitcoin.
It should make people rush to bitcoin - but it hasn't, historically. I think it is the block size.
Seriously, dude?
What makes you think the block size problem has been resolved?
Two pages of people saying this and not a single link.
1453.
Post 12118300 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Looks like we are setup for a stale few months. This is actually good news.
Low as possible
Long as possible
1454.
Post 12134078 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Hi, I'm new to all this. Can someone explain why eth price & volume are going up, and btc just sort of sits there doing nothing? This is all just temporary, right?
Sideways All Summer
Chin up, buttercup! Summer's almost over
1455.
Post 12145851 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
yawn, why so much boringness and lack of moves, after all the fun of greek crisis and the fail to break 300 again
You must learn to embrace the sideways.
Time is short, enjoy it while you can.
1456.
Post 12151275 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
kLee you are fucking amazing. Who informed you about that? Thanks!
Twitter!
Ok, while I think it's great that "Satoshi" has resurfaced to fight the Gavinistas, I do think that the hard limit must indeed increase (perhaps to 2mb, maybe in a few years it could go higher?)
But the 101 proposal of doubling every couple years is pure insanity.
This is not just a ledger that might exist on a few select locations around the world. This is a ledger that should exist on
every computer around the world. The best security or guarantee of authentic transactions is when as many as possible can hold and parse the full Blockchain.
This will not happen if you just double by arbitrary rule instead of calculated increases decided by need.
1457.
Post 12151338 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
kLee you are fucking amazing. Who informed you about that? Thanks!
Twitter!
Ok, while I think it's great that "Satoshi" has resurfaced to fight the Gavinistas, I do think that the hard limit must indeed increase (perhaps to 2mb, maybe in a few years it could go higher?)
But the 101 proposal of doubling every couple years is pure insanity.
This is not just a ledger that might exist on a few select locations around the world. This is a ledger that should exist on
every computer around the world. The best security or guarantee of authentic transactions is when as many as possible can hold and parse the full Blockchain.
This will not happen if you just double by arbitrary rule instead of calculated increases decided by need.Technically speaking I have NO opinion on the block size. I just know when I see assholes (Mike + Gavin).
But they are
our assholes.
Not
my assholes, those two stink to high heaven.
Hearn lost any trust of mine as soon as he began advocating for breaking fungibility. Gavin, I think, was a nice guy, but he's been compromised and can't be trusted either.
1458.
Post 12151376 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
But the 101 proposal of doubling every couple years is pure insanity.
This is not just a ledger that might exist on a few select locations around the world. This is a ledger that should exist on every computer around the world. The best security or guarantee of authentic transactions is when as many as possible can hold and parse the full Blockchain. This will not happen if you just double by arbitrary rule instead of calculated increases decided by need.
That reminds me of the Statists who claim that government expenditures should be based on need. What is not said but logically follows is that whoever determines the "need" ends up with all the power. Let the market decide.
The problem is that the market does not decide in this case. It's the "Hearn and Gavin" show that propose their decision. The market has no say, well... until the fork actually happens and then bitcoin and Gavincoin can trade freely against one another... that will be interesting.
1459.
Post 12151447 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
I don't care, I want gigantic blocks.
Your post about boot strapping fiat currency in another thread was borderline brilliant, but this is just silly.
The larger the blocks become, the more difficult to secure the block chain. If there are gigantic blocks there is no incentive to pay any fee, also no incentive to block non fee payments.
“You see,” he said, “I don’t give a shit.”
Yeah, I got that feeling, I've had a few more than I should as well, but I'm not gonna let you off so easily.
How do you propose to incentivize chain security as distribution continues to halve?
1460.
Post 12151536 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
The problem is that the market does not decide in this case. It's the "Hearn and Gavin" show that propose their decision. The market has no say, well... until the fork actually happens and then bitcoin and Gavincoin can trade freely against one another... that will be interesting.
something else that's interesting is that somebody just spent about 700 coins trying to punch through $263 support and got a bounce instead. We need bigger blocks. everybody knows it. That's why we know the fork will become the main branch.
I'm personally not against a marginal increase in block size. I think 4 mb would be sufficient for the next halving interval, and perhaps we could double each 4 years after that.
It gives reason to the decision: the allocations of new coins has been cut in half, so we double the available transaction space to compensate the miners.
You all need to remember that this whole thing exists on trusting that the Blockchain can not be violated, which means trusting the miners, which means the miners must be properly incentivized, or they will turn against the system.
You've heard the expression "don't bite the hand that feeds" ?? What do you think happens when that hand stops feeding and the one with the teeth gets hungry?
1461.
Post 12151641 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
I don't care, I want gigantic blocks.
Your post about boot strapping fiat currency in another thread was borderline brilliant, but this is just silly.
The larger the blocks become, the more difficult to secure the block chain. If there are gigantic blocks there is no incentive to pay any fee, also no incentive to block non fee payments.
“You see,” he said, “I don’t give a shit.”
Yeah, I got that feeling, I've had a few more than I should as well, but I'm not gonna let you off so easily.
How do you propose to incentivize chain security as distribution continues to halve?The blocks will naturally be limited by the cost and benefit balance in the market. I expect the fee will be small but not insignificant at any time. Eventually, the blocks will be limited by nature. Artificial limitation has no purpose (other than possibly to destroy bitcoin for someone with interest in other systems). For the sake of safety, I am ok with a small increase for now.
I'm ok with a small increase, and I share your hope that natural selection would limit the blocks to a reasonable level, but it still remains possible that there exists irrational actors that would not limit themselves to the "natural" limit and instead use the larger artificial limit to attack the network.
,*, edit... I'm mostly concerned that the miners will not get paid without some kind of limit. Some kind of exclusivity must exist on the main bitcoin Blockchain to incentivize the cost of proof of work needed to secure the amount of value that will eventually be stored on the blockchain.
1462.
Post 12151676 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
The problem is that the market does not decide in this case. It's the "Hearn and Gavin" show that propose their decision. The market has no say, well... until the fork actually happens and then bitcoin and Gavincoin can trade freely against one another... that will be interesting.
something else that's interesting is that somebody just spent about 700 coins trying to punch through $263 support and got a bounce instead. We need bigger blocks. everybody knows it. That's why we know the fork will become the main branch.
I'm personally not against a marginal increase in block size. I think 4 mb would be sufficient for the next halving interval, and perhaps we could double each 4 years after that.
It gives reason to the decision: the allocations of new coins has been cut in half, so we double the available transaction space to compensate the miners.
You all need to remember that this whole thing exists on trusting that the Blockchain can not be violated, which means trusting the miners, which means the miners must be properly incentivized, or they will turn against the system.
You've heard the expression "don't bite the hand that feeds" ?? What do you think happens when that hand stops feeding and the one with the teeth gets hungry?
Yeah and Workers of the World Unite! Gimme a break with your commie talk. That gets no play here. The issue is not between a 8MB block and a smaller increase. It's about a block size increase or NO block size increase. It's your fault. There are no other proposals on the table, so we are forced to chose between Gavin's proposal or doing nothing. Doing nothing is not an option.
Lol, "commie talk" indeed, I should mine for you for free?
Fuck you, enjoy your fork, asshole.
1463.
Post 12151704 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
I don't care, I want gigantic blocks.
Your post about boot strapping fiat currency in another thread was borderline brilliant, but this is just silly.
The larger the blocks become, the more difficult to secure the block chain. If there are gigantic blocks there is no incentive to pay any fee, also no incentive to block non fee payments.
“You see,” he said, “I don’t give a shit.”
Yeah, I got that feeling, I've had a few more than I should as well, but I'm not gonna let you off so easily.
How do you propose to incentivize chain security as distribution continues to halve?The blocks will naturally be limited by the cost and benefit balance in the market. I expect the fee will be small but not insignificant at any time. Eventually, the blocks will be limited by nature. Artificial limitation has no purpose (other than possibly to destroy bitcoin for someone with interest in other systems). For the sake of safety, I am ok with a small increase for now.
I'm ok with a small increase, and I share your hope that natural selection would limit the blocks to a reasonable level, but it still remains possible that there exists irrational actors that would not limit themselves to the "natural" limit and instead use the larger artificial limit to attack the network.
It has not been a problem for the six years up till now. An the reason is that there is a cost to make large blocks. The market works, as it always does. Central planning efficacy is an illusion. Go with the market, freedom and private property. It is the only sustainable way.
It has not been a problem up till now because we have been incentivized by the block reward.
If there is no incentive to pay fees on transactions, then how do you incentivize the miners when the reward runs out?
- keep in mind, there is a vast oversupply of sha-256 mining capacity that would be sold to the highest bidder as soon as it becomes unprofitable to mine.
1464.
Post 12151765 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
The problem is that the market does not decide in this case. It's the "Hearn and Gavin" show that propose their decision. The market has no say, well... until the fork actually happens and then bitcoin and Gavincoin can trade freely against one another... that will be interesting.
something else that's interesting is that somebody just spent about 700 coins trying to punch through $263 support and got a bounce instead. We need bigger blocks. everybody knows it. That's why we know the fork will become the main branch.
I'm personally not against a marginal increase in block size. I think 4 mb would be sufficient for the next halving interval, and perhaps we could double each 4 years after that.
It gives reason to the decision: the allocations of new coins has been cut in half, so we double the available transaction space to compensate the miners.
You all need to remember that this whole thing exists on trusting that the Blockchain can not be violated, which means trusting the miners, which means the miners must be properly incentivized, or they will turn against the system.
You've heard the expression "don't bite the hand that feeds" ?? What do you think happens when that hand stops feeding and the one with the teeth gets hungry?
Yeah and Workers of the World Unite! Gimme a break with your commie talk. That gets no play here. The issue is not between a 8MB block and a smaller increase. It's about a block size increase or NO block size increase. It's your fault. There are no other proposals on the table, so we are forced to chose between Gavin's proposal or doing nothing. Doing nothing is not an option.
Lol, "commie talk" indeed, I should mine for you for free?
Fuck you, enjoy your fork, asshole.
I take your cripplecoin, and double.
Most of my remaining crypto horde is already moved into Monero (big risk, yeah, we'll see how that turns out)
What I have left on bitcoin I am confident I will be able to spend on whatever chain survives, or on both, perhaps?
1465.
Post 12152058 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
if public gets notice of this fork-thing we could easily go double digits.
Why?
public doesnt understand those technical details. all that is noticed is that there i a turmoil going on and we have suddenly two versions of bitcoin. thats EXTREMELY irritating!
Not sure if public even cares about fork thing. Current solution is not final it is just a proposal... and it looks like many will upload to Bitcoin XT. Will be interesting to see what happens next.
Yeah, more likely it will be more like "Sounds like this bitcoin thing might be more serious than I thought"
Ahhhhh, this is it! The singularity! The bots are conscious!
1466.
Post 12152115 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Lol, "commie talk" indeed, I should mine for you for free?
Fuck you, enjoy your fork, asshole.
Then only mine transactions with fees at a level you find acceptable. That's the point, not artificial scarcity.
[And yes, the block reward is heavily distorting the market right now. However, transactions are currently being oversubsidised which is an argument not to artificially restrict transactions in a block if anything]
Come on Richy, you been around as long as anyone. What I do or don't doesn't make for a hill of beans. My hashpower amounts for as much as my vote, absolutely nothing.
My concern here is that if there is no scarcity of inclusion in the blocks, then there is no incentive to pay a fee. No fees, no incentive to mine.
It's pretty simple. If there does not exist enough monetary incentive to secure the network at a level larger than the potential reward for attacking the network, then we're toast. "Game over man, game over."
1467.
Post 12158520 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
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?
Just on the contrary! If you buy bitcoins now will give the opportunity to spend same coins twice both on Bitcoin and XT networks in future if there is a split at all. So, if you buy 1 bitcoin now you actually buy 2 bitcoins if XT altcoin succeeds in being true alternative to bitcoin!
I don't think this is correct.
If curious, this is an example of what will actually happen once bitcoin forks:
http://qntra.net/2015/01/the-hard-fork-missile-crisis/
1468.
Post 12158550 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Can somebody explain this to me like I'm a 5 year old:
XT is supposed to make bitcoin futureproof, but how is it going to achieve that, when it can be spammed up to ~1.15gb / day, meaning that it'll take just 100 days for a determined attacker to increase the blockchain to +115gb, and around a year to take it up half a terabyte. Is this "futureproofing" or ensuring that the future of bitcoin is one where it dies out of bloat and where no-one wants to download it?
Increasing the fees within the 1mb limit is a far more acceptable strategy. If that means bitcoin not doing microtransactions (at least in the traditional / on-chain way), so be it. Gold coins weren't used for microtransactions either, they had silver and copper coins for that.
Exactly, XT offers nothing other than kicking the can, and removing all scarcity from the blockchain. This dramatically increases the potential attack vectors.
A far more thoughtful and sane way of allowing the blocksize to grow is detailed
here. <- you may need to be more than five to understand it, but it's a quite straightforward and elegant solution.
1469.
Post 12158677 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
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?
Just on the contrary! If you buy bitcoins now will give the opportunity to spend same coins twice both on Bitcoin and XT networks in future if there is a split at all. So, if you buy 1 bitcoin now you actually buy 2 bitcoins if XT altcoin succeeds in being true alternative to bitcoin!
I don't think this is correct.
If curious, this is an example of what will actually happen once bitcoin forks:
http://qntra.net/2015/01/the-hard-fork-missile-crisis/That speak about getting coin fractions from the competing chain, thus tainting your otherwise good coins - that is plain rubbish.
I'm unfamiliar with this "fractional tainting" part. Perhaps you could quote or outline that bit?
As far as I understand, any fork that persists will allow for this kind of double spending.
1470.
Post 12168361 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Nodes, not miners. (?)
From what I read, the threshold is 75% of the previous 1000 blocks mined by XT-compatible miners, but in January 2016 at the earliest
Kinda,
The trigger to allow larger blocks is dependant solely on miners.
Activation is achieved when 750 of 1,000 consecutive blocks in the best chain have a version number with bits 3 and 14 set (0x20000004 in hex). The activation time will be the timestamp of the 750'th block plus a two week (1,209,600 second) grace period to give any remaining miners or services time to upgrade to support larger blocks. If a supermajority is achieved more than two weeks before 2016-01-11 00:00:00 UTC, the activation time will be 2016-01-11 00:00:00 UTC.
Of course, as we've seen recently, the rules that the miners pretend to follow, and the rules they actually follow, are two different things.
Also, if the blocks created by the miners are not accepted by a similar "supermajority" of the clients, then those rewards from creating the blocks will be difficult to spend.
It's gonna be a big, hot, mess.
1471.
Post 12168581 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Approx. 8.5% xt nodes, almost there!
...
It's not even that I am against raising the limit. (within reason) I'm mostly just irked by the fear mongering and panic and desperation-driven FUD coming out of the Hearn/Andresen camp.
1472.
Post 12179032 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Well, that was exiting,
Kinda blows my sideways all summer theory to shit though.
Oh well, cheap coins continue.
1473.
Post 12179123 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
So hows everyone doing?
Lost a ton.
Faithful things will bounce back.
Still feeling pretty shitty.
Gotta keep thinking long term thoughts
I have more coins now than I did an hour ago, so, doing just fine
Sorry you lost a ton, how'd you lose them? Margin bets?
1474.
Post 12179222 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
Roughly, 100K sell order could knock down the exchange rate by 10%
Do it bears! Come on, do it!
There's no support at all below 200... just dump another hundred thousand coins and we'll finally be at double digits!
LOL
1475.
Post 12179480 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
If you had a ton of money in bitcoin. Like literally everything. Like your entire life in bitcoin.
Like all you worked for the last 20 years in bitcoin.
Would you call it a bad idea to get blackout drunk right now?
Is some move going to happen in the next 12 hours because I want to forget what my brain feels like for a bit and crash
I'm not one to give advice on this subject, but, since you asked...
It's never a bad idea to get black out drunk! In fact, you should consider this a grand opportunity!
Just make sure you don't get
really drink and sell all your bitcoins..
Our who knows? Maybe if it's causing you mental anguish then you just might be over-invested... 20 years salary sounds a bit steep, even to me, and I've got my entire life savings in crypto (though before crypto I didn't have
any life savings, so there's that.
Sorry, rambling, if you're not gonna get rip roaring drunk, ima do it for you!
1476.
Post 12179520 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.23h):
If you had a ton of money in bitcoin. Like literally everything. Like your entire life in bitcoin.
Like all you worked for the last 20 years in bitcoin.
Would you call it a bad idea to get blackout drunk right now?
Is some move going to happen in the next 12 hours because I want to forget what my brain feels like for a bit and crash
I'm not one to give advice on this subject, but, since you asked...
It's never a bad idea to get black out drunk! In fact, you should consider this a grand opportunity!
Just make sure you don't get
really drink and sell all your bitcoins..
Our who knows? Maybe if it's causing you mental anguish then you just might be over-invested... 20 years salary sounds a bit steep, even to me, and I've got my entire life savings in crypto (though before crypto I didn't have
any life savings, so there's that.
Sorry, rambling, if you're not gonna get rip roaring drunk, ima do it for you!
You are a bad influence.
So I'm taking your advice!!!!
HOORAY
For the record, I wouldnt sell my coins if I needed the money to pay for a life saving operation on my father
HOLDER FOR LIFE
Cheers! Just don't smash any more tv's
1477.
Post 12190026 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
stop with the FUD and sloganeering ... bitcoin can scale just fine without the induced faux panic and manufactured fork missile crises circus (as much fun as the drama is).
No kidding.
Garzik's original proposal
http://gtf.org/garzik/bitcoin/BIP100-blocksizechangeproposal.pdf is a far superior solution compared to XT. These kind of proposals are the way bitcoin is supposed to evolve. You make proposal, everyone checks it out and makes suggestions and changes, you iterate this process several times until you've got something everyone agrees on.
But no, instead people want to push through an ill-conceived idea that involves 8GB blocks in twenty years along with whatever else is packaged into the XT client because Hearn says the sky is falling.
We've had sustained spam attacks for extended periods and as long as you're not an idiot and attach an appropriate fee, they don't affect you.
Bitcoin doesn't need to be dumbed down or compromised to achieve its primary goal; money that is outside the control of governments and central banks.
1478.
Post 12190081 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
The urgency isn't even in block size or scalability. The urgency is in fixing the goddamn decision-making process among the core devs. You think Hearn was wrong about that?
From an objective standpoint, looking at Hearn's contributions as a whole (the database change that caused the first fork, the redlisting coins proposal, and XT in particular) I think one could come to the logical conclusion that Hearn has been compromised by the NSA or some other three letter agency, likely recruited while he was still with Google.
1479.
Post 12207860 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
Ah, would be nice, I hope it gains some traction.
I'd drop a line over there but it would just be more of the same shit I been spouting since I can't remember when.
This is the sideways that will make past flat periods look like mountains.
1480.
Post 12208163 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
unproductive comments such as your's Mr. Lama are the ones which should get lost.
The option of support for 0 transaction spending and lightwallets is a great benefit to bitcoin.
Otherwise this technology will be left to rot away, as nobody will be able to use it.
If you really support bitcoin then you ought to see the need for XT type improvements.
All this paranoid conspiracy theory garbage about the NSA or the CIA centralizing through XT isn't respectable.
Even if they were trying to hijack bitcoin for their own reign it would still be a benefit at least in the short term. "Even if the gingerbread witch is just going to eat me some day, at least she will let me eat cookies in the meantime..."
Seriously weak shilling for the state dude. You need to practice more.
1481.
Post 12215648 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
2MB is the way to go.
I've
heard that there is a change needed before they could implement side chains that would require a hard fork, and also an increase in the block size.
I would expect that the block steam guys are working towards a proposal that does both in one shot.
If the increase in the size of the blocks required is negligible (less than 2mb) and this results in being able to freeze* the code and continue all changes as sidechains, I think it
might have a chance at gaining high enough consensus to actually become adopted.
*
of course you would still need to maintain the code, which is what wladimir does, but you would not need any more contentious forks as you could do whatever you like on sidechains.
1482.
Post 12219277 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
is
crypto wall observer done??
1483.
Post 12222106 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
Hey guys the bitcoin price...
oops, didn't mean to interrupt your XT discussion
carry on
Interesting... inverse correlation?
Bitcoin price
XT nodes
Coincidence? I think not!
1484.
Post 12224024 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
Like Dostoevsky's Grand Inquisitor, I bear the burden of being reviled by all, so that the weak may bare the living.
Wait, where does that leave me? Am I useless then?
I hope not professor, looks like there's not a lot of money lying around for useless eaters.
http://www.bloomberg.com/news/articles/2015-08-21/brazil-has-yet-another-big-mess-on-its-hands-after-state-default"The state (Rio Grande do Sul), proportionally the most-indebted in Brazil, is in such distress that it didn’t pay salaries to public workers in July."
I hope professors don't rely on public money in Brazil, though I'm sure you've seen this all before and you'll be fine. After all, government fiat money is good, bitcoin bad, right?
1485.
Post 12224040 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
I wonder how much money and time it would take to add enough XT hashing power to trigger the switch assuming no more existing nodes defected. I'm guessing it could easily be done for less than $500M. The problem is that the cripplecoiners would only need to add one Terahash/second for every 3 Terahashes/sec new nodes to prevent it from happening.
I'm pretty sure 21.co's chips will be mining XT. Microtransactions will not be practical once the network approaches capacity. At capacity, they won't even be possible.
Cripplecoiners consider small transactions "spam", but microtransactions will prevent spam if, for example, email requires 0.1 milibit postage. or even 0.01 mBit. A lightning network adds a layer of complexity to a system that is already too complex for mainstream use. Trusted third parties may make it simple and easy, but that defeats the whole purpose of a peer to peer network.
Did you make some bad bets Mr decentral banker? You seem awfully bitter as of late.
1486.
Post 12224642 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.24h):
intentionally throttling the network to collect more fees is like strangling the golden goose to get more eggs.
Or like jumping out of a certain wooden sculpture when the walls of Troy first come into view?
Or like trying to charge money for an infinite resource?
Bip 101 timescale:
Year. Size. Reward. blockchain size (rough estimate)
2016 8MB. 12.5. 40GB
2020 32MB 6.25. 3.4TB
2024. 128MB 3.125. 16.8TB
2028. 512MB 1.5625. 70.56TB
2032 2048MB 0.78125. 285.6TB
2036 8192MB 0.390625. 1145TB
How many individuals do you think will be incentivized to store more than a petabyte of data with no compensation? The good news is that Gavin's plan is preposterous and will never gain traction, so fortunately there's nothing to worry about.
1487.
Post 12262219 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
... sounds like consensus to me, tally-ho game on.
Me as well, I like the fact that it was a quicke.
Gives inordinate power to miners.
Although I don't mine my own blocks, I can choose which pool to direct my hash rate. As demonstrated by fake nodes, the only voting that can not be faked is either voting by mining blocks (proof of work) or voting by signing messages with private keys that prove how much bitcoin you have control over (proof of stake).
The process of mining is what makes the Blockchain secure. The security is what gives it value.
Bip100 =>>
http://gtf.org/garzik/bitcoin/BIP100-blocksizechangeproposal.pdfIt's quite ambitious actually, and not quite ready yet? (I think there's a compatibility problem with the headers first thing, but I need to look closer) - but I'm fine with the miners deciding the blocksize.
There is a symbiotic balance between the miners and the nodes, but do not kid yourselves, it is the miners that are running the show. You cannot
force the miners to do anything. The best you can hope for is coercion. Meanwhile, if the miners choose one direction and the nodes disagree, the nodes are stuck, they cannot make transactions without mining. (Unless of course they all just switch to proof of stake :-/ could happen, who knows?)
1488.
Post 12262329 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
If bitcoin becomes one of the biggest financial instruments, and there is a fork, favouring miners mostly, my guess is that everyone (techsavvy enough) will fire up their computer to mine. Suddenly those mining pools will look very small compared to billion+ computers running against them.
Average user cpu mining might get around 20 mh/s if they're lucky (see:
https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison#CPUs.2FAPUs)
The current network hashrate is estimated at nearly 400,000 TH/s - meaning, you need about 20 billion average users to mine bitcoin with their computers...
Somehow, I don't think that everyone (techsavvy enough) will have even the slightest effect.
1489.
Post 12262364 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Ok Bitfinex apparently was migrating to a new multisig wallet. When the Withdrawals started working again they did a double send, one from the old and one from the new. So I received duplicate Bitcoin transactions and double the Bitcoin at my destination address. Confirmed with another Bitfinex user.
A few hours later, once they figured it their blunder they deducted the respective amount from the current USD deposits.
Shakes my confidence in Bitfinex.
Wait a minute, they sent you double bitcoin? I'm going to assume you weren't the only person this happened to. So what happens if they sent you double and you had no fiat or bitcoin left on account?
These kind of mistakes do not inspire confidence, I must agree. (Gives new twist to "double spend" though
)
1490.
Post 12277372 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
What if they simply set the target at 50% of the 20%-80% of the votes and tell you people NOW STFU? Some idiots will probably attack it on that still, not realizing what they are doing.
Scrapping the top and the bottom makes me think that's probably what's initially intended.
I remember a time when forum participants like Mr. Mucus were considered trolls.
Mr Mucus, I must tip my hat, you've nailed it on the head, directly.
This illusion of "voting" and "mattering" is just that, an illusion.
The only votes that matter are cast by the ones that control the mining of the blocks, they run the show, but they only run as far as the incentives will lead.
As soon as the reward incentives paid per block are reduced to less than the potential reward for attacking the network, the security agreement will end. Miners have no incentive to be loyal. They have no incentive to secure your record of transactions without sufficient monetary compensation.The question I leave for electric mucus, (and anyone else who'd like to respond - excepting BJA, I've grown tired of his lack of intelligence) is:
How do you propose that the miners are incentivized to protect the security of the blockchain if there is no scarcity enforced on the size of the Blockchain?
1491.
Post 12277455 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Let miners leave. Let difficulty fall. Others will step up and fill that gap.
I think you might underestimate the amount of sha-256 horse-power that might be leveraged against the network once mining becomes unprofitable.
If mining is no longer profitable, mining hardware will be sold at clearance prices.
It all contributes to diminishing the security of the immutable ledger.
1492.
Post 12277464 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
End game will probably have laws against hijacking/abusing mining power.
Because having and following "laws" is what bitcoin's all about, right?
1493.
Post 12277658 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Let miners leave. Let difficulty fall. Others will step up and fill that gap.
I think you might underestimate the amount of sha-256 horse-power that might be leveraged against the network once mining becomes unprofitable.
If mining is no longer profitable, mining hardware will be sold at clearance prices.
It all contributes to diminishing the security of the immutable ledger.
Could you eleborate on that scenario?
At a certain point in time, a group of mining pools decides they earn too little for letting their computers run.
So what option do they have?
1. Shutdown and leave. Like others did when the price fell below 300.
2. They introduce a new 'fork' which gives them more money and turn their hashing powers towards that fork.
When this fork happens my guess is that it will be so obvious to the whole world that it's just to enrich the miners, it won't happen.
How? Maybe by that time everyone has a small '21' asics in their home powered up. Governments who don't want to lose money will create laws against hijacking earth's currency. I'm just thinking out loud, but I'm confident a solution will arise.
// about the laws thing; ideally bitcoin becomes resilient that it's not necessary.
Sadly I share this world with people who like to abuse everything and anything. So yeah, we probably need laws against those people.
"Could you eleborate on that scenario?"
Sure.
"At a certain point in time, a group of mining pools decides they earn too little for letting their computers run.
So what option do they have? "
As a profit-mined miner myself, I would expect that the best option is to sell non-profitable hardware to the highest bidder.
Once the hardware is sold, the new owners of said hardware can mine whatever blocks they want. They can include or exclude any transactions as they see fit.
Are you beginning to see the problem?
"So yeah, we probably need laws against those people."
"laws" that can't be enforced are useless. If you are expecting to rely on force of government and enforcement of "laws" , you're gonna have a bad time...
1494.
Post 12277833 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Once the hardware is sold, the new owners of said hardware can mine whatever blocks they want. They can include or exclude any transactions as they see fit.
Why the current owners can't do it? What's the difference?
Sorry, I should have defined the difference between "new owners" and "current owners"...
- what I mean is that the "current owners" are incentivized by profit, hence their incentive to sell.
The "new owners" in this scenario, would be individuals or state-level actors that are not incentivized by profit. (Indeed, who would run unprofitable hardware except some "otherwise-incentivized" participant?)
These "new owners" would have no profit margin, no scenario in which they could turn a profit, thus their only motive now is to attack the network. Their only incentive for running this specialized hardware at a loss would be to harm the network.
Makes sense?
1495.
Post 12280315 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Sorry, I should have defined the difference between "new owners" and "current owners"...
- what I mean is that the "current owners" are incentivized by profit, hence their incentive to sell.
The "new owners" in this scenario, would be individuals or state-level actors that are not incentivized by profit. (Indeed, who would run unprofitable hardware except some "otherwise-incentivized" participant?)
These "new owners" would have no profit margin, no scenario in which they could turn a profit, thus their only motive now is to attack the network. Their only incentive for running this specialized hardware at a loss would be to harm the network.
Makes sense?
Yes, thanks. Although I think that if a state decide to kill bitcoin, it won't do it by purchasing secondhand mineries. It would use instruments it's more used to: police, legislation, banks etc.
How do you propose that the miners are incentivized to protect the security of the blockchain if there is no scarcity enforced on the size of the Blockchain?
I agree that scarcity is necessary for creating proper bitcoin infrastructure. However, I think the scarcity should be natural, rather than artificial one.
If the scarcity is artificial one, like the 1M limit, and is determined by political means, it would be handled by political methods as well. All efforts will go to political and bureaucratic struggle. This is a way to soviet-style economy.
If the scarcity is natural one, like propagation time and is caused by technical reasons, it would be handled by technical methods. All efforts will go to solving these technical obstacles. This is the way to the Moon
If the 1M limit is artificial scarcity, what about the 21M limit? Is that not also artificial? Should we remove that artificial boundary as well?
1496.
Post 12304796 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Someone many pages back linked the Gavin interview,
https://youtu.be/B8l11q9hsJMPay special attention at roughly 1:14:40 , the first and maybe only interesting question, let me paraphrase:
Brian: "so, if this fork succeeds, how will decisions be made in the future?"
Gavin: "Mike Hearn will be the benevolent dictator, he will be the ultimate decision maker."
...
He goes on to explain how he does not want to be in complete control, nor do any of the devs that currently have commit ability, but he is completely happy and ok with Mike as the sole controller and decider. He even goes in to mention that future changes will be much easier and will happen much more quickly once this change is made.
I know XT is already dead, but I just wanted to point out to anyone that was still unconvinced that Gavin has been compromised... He is either completely brain dead, or he is deliberately trying to end bitcoin's function as a permissionless, censorship-proof means of storing and transmitting value.
1497.
Post 12304964 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Someone many pages back linked the Gavin interview,
https://youtu.be/B8l11q9hsJMPay special attention at roughly 1:14:40 , the first and maybe only interesting question, let me paraphrase:
Brian: "so, if this fork succeeds, how will decisions be made in the future?"
Gavin: "Mike Hearn will be the benevolent dictator, he will be the ultimate decision maker."
...
He goes on to explain how he does not want to be in complete control, nor do any of the devs that currently have commit ability, but he is completely happy and ok with Mike as the sole controller and decider. He even goes in to mention that future changes will be much easier and will happen much more quickly once this change is made.
I know XT is already dead, but I just wanted to point out to anyone that was still unconvinced that Gavin has been compromised... He is either completely brain dead, or he is deliberately trying to end bitcoin's function as a permissionless, censorship-proof means of storing and transmitting value.
This is silly. What makes you think that people couldn't just as easily fork away from Hearn's XT?
The Core/XT devs are not the Federal Reserve Board, they serve at the behest of the miners and the community. Forking or threatening to fork is the only relief valve on their power.
BTW I agree that 75% of the network moving to BIP101 seems very unlikely now, but my above point remains.
"
The path of lost freedom is a gradual, slippery slope; whilst the recovery of such is a brutal hill to climb."
1498.
Post 12305124 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
Scale or die.
You really are a one trick pony aren't you? Too dense to see the risks inherent in scaling at any cost.
If you choose to follow this bip 101 reckless abandon you will scale
and die.
“The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you (while hopping on a Blockstream™ Sidechain) will see the brick wall at the back of the theater.”
I have no illusion of freedom. I fully understand what is at stake.
1499.
Post 12313105 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
"cripplecoiners" vs "blockchain blacklisters"
Crips vs Bloods?
http://www.imdb.com/title/tt0479044/
1500.
Post 12313716 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
40 days and 40 nights among the subreddits. And I'm back. So anything new? Something something about a larger spoon? What are you fellas on about now?
Hey: 230. That's something...
Welcome back! Heh, yeah, 230 ain't bad. Much closer to equilibrium than say, 1000 or 100.
Speaking of equilibrium, I think cost of mining is still around 165 from my own experiential calculations.
If the price were truly too low, we should see it reflected in a falling hashrate. When the price is too high, the hashrate will increase until the expense of securing the Blockchain roughly equals the economic benefit.
Mmmm that maybe wasn't quite so clear, let me demonstrate with pictures...
As you can see, hashrate and price are somewhat correlated. You can see the stagnation in 2012, the big run up in 2013, and now in later 2014 and 2015, the price declines to seek equilibrium with cost. I expect the hashrate should stay relatively flat until some major change in the dynamic (reward halving, block size resolution, BIS confirming that bitcoin will replace the SDR)
------------------------------------------------------------------------------------------------------------
Is anyone out there capable of overlaying a time-equivalent price chart on top of that hashrate chart?
I think it might look interesting.
1501.
Post 12313860 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
^How do I upvote this?
I think it will take me a while to readjust
Over here all we got is +1 ...
I can't do an overlay on my phone (actually I probably could, but I don't know how)
Anyways, here is rough abstraction of how I expect price and hashrate to correlate.
Something like that I guess?
1502.
Post 12313928 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
My personal impression is that hash rate is dictated by price and (more importantly?) technology, with rate reacting to price and not the inverse. The two big ramps were directly related to a paradigm shift in mining tech, CPU to GPU, and GPU to ASIC. With ASIC gear becoming increasingly efficient we will probably see a rise in hashrate even in the face of a flat or modestly declining price. The upcoming halving should be pretty interesting for those watching this relationship.
Agreed. Hashrate
should follow price, but it seems like during those two massive increases it was the price chasing the hashrate....
Someone better suited to scientific analysis of data sets would do a better job of analyzing this relationship ( hint, hint, Professor Stolfi )
Anyways, I don't expect any further large expansions in mining technology or efficiency, certainly nothing on the scale of cpu>gpu>asic.
Many people mocked me many pages ago for my concern that the block size could not simply scale exponentially for the next 20 years, but I still believe we are reaching the limits of physics and any further significant exponential type gains in computing power beyond asic will likely take us beyond the singularity. I just hope our new synthetic overlords accept bitcoin. (Ok, yes, I've been watching too much humans (tv show))
1503.
Post 12332378 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
How big of a deal is it if we go red again on weekly MACD?
Big deal for the $23 million in longs awaiting anxiously.
23.782 million, but who's counting?
Edit: 23.825 MM
I'm thinking that, despite the blocksize debate, or perhaps in spite of it, long is probably the way to go...
If we didn't get cheep coinz last week then it isn't going to happen.
common sense should prevail
Maybe not, buy it's doubtful we'll get expensive coins anytime soon, either.
http://www.coindesk.com/us-marshals-bitcoin-auction-2015/Final Silk Road Bitcoin Auction
Final
Fin.
do you think anyone will every be able to pick up this many bitcoin without and spillage ever again, this is bullish news.
its finally coming soon, the last chance to get a butt load of cheap coins for only ~20-50% over current market rates.
Hey dude, do you have money Mart out east? Here's recent email I got.
Hello Users!
We are proud to announce that through a strategic partnership with Taype International, we can now offer all of our users a convenient new funding option!
Starting now, all users can fund their Cointrader.net account with cash at any Money Mart location across Canada! Simply go to the deposit page and select cash deposit, you will then be emailed the step by step instructions. All cash deposits will be credited to your account within 1-2 business days and users can deposit up to $9,000 per day to a maximum of $100,000 per month.
https://www.cointrader.net/account/depositStay posted as we have many more exciting announcements coming very soon!
Yours Truly,
The Cointrader.net Team
I'm sure they'll charge a hefty percentage "like 3 bucks on a hun" but compared to the bitcoin atm's I've seen, 3% would be a bargain.
1504.
Post 12337790 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.25h):
It was quite clear that the short term rally started. We clearly saw a triangle formation in our bitcoin forecast
Pretty sad when five bucks is considered a rally.
At least summer is finally over; even if bitcoin remains flat we should get to see some fireworks in the legacy financial markets over the next several weeks...
1505.
Post 12710192 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.28h):
I read something about a vast
Russian MMM ponzi currently operating in South Africa buying up Bitcoins. Any news?
Bobby Lee, CEO of Chinese exchange BTCC, told CoinDesk his platform has seen a significant volume increase, though he dismissed much of his competitors' volume as "artificial".
Those behind the volume, he said, are not traders but consumers sucked into a Russian ponzi scheme, MMM.
"We have posted warnings on our site and on our social media to warn users to be careful, but they have been coming to our exchange and buying out like crazy," he said, adding:
"This time it's not speculative trading but based on them getting sucked into this ecosystem."
https://twitter.com/YourBTCC/status/654273706013798401?lang=en"South Africa" must include a many of the poorest and least educated people there.
Ah, bitcoin -- bringing First World financial ruin to the unbanked in the Third World...
May you all go broke, and burn in hell...Aww shucks professor, I think that's the nicest thing you've ever said. Glad to see you can finally open up and be honest with your feelings.
1506.
Post 12796367 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?
We're bound to see some profit-taking, but I think it will pick up again. Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts? Below 1h it looks like a line but it's still there. There's the occasional deviation above and below but take those away and the data almost fits a simple growth model. With a little imagination the curve even extends back before the dip in August, if you look at the 12h. I don't know what to make of it. Opinions?
I've been watching the 12 hour chart the past few weeks.
It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.
*Actually, this might be even sexier, because it's just so methodical and relentless.
**btw, is tarmi still short?
1507.
Post 12796687 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
That's why I come here...all the wonderful people saying exactly what I want to hear.
Aww, you're so kind.
I missed you too lambsie!
1508.
Post 12805818 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
I'm not seeing it... yet...
https://bitcoinwisdom.com/markets/bitfinex/btcusd = 299.99
(Love the dance party gif tho, )
1509.
Post 12805871 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
stamps is leading these days
Stamp is leading? I've obviously not been following this as closely as I should.
I guess it makes sense tho, why price hasn't collapsed yet. IF stamp is leading then it's actual demand pushing the price instead of pure speculation and margin bets with leverage at finex...
1510.
Post 12805932 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
lol tarmifart is online but doesnt dare to speak up
We he told me 265 was the top as well as 295 and im sure he has been shorting like crazy...digging his heels in deeper...and going more and more into the red...
Wonder if he has covered his short yet?
Don't worry, after the next pull-back Tami will re-appear to tell us all how he placed his short exactly at the top and he will laugh at all us suckers that have been long since 230...
1511.
Post 12826766 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
This is starting to look extremely fake in my opinion those Chinese exchanges are ridiculous.
Lol are you short?
Was the gox bubble fake to?
It's virtual money dude, everything's fake
Seriously though, I was hopping for a repeat of the massive dump we took after the last time we broke 300 --- "as low as possible for as long as possible" after all...
If we don't collapse soon, I fear the accumulation phase might be over...
1512.
Post 12826807 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
hit $340 in chian money
entering full retard euphoria candle zone
In case anyone still cares to hear such news, my monkey currently thinks the most likely turn in this extension is 2 days hence. That would put it at 340 USD coinbase, give or take.
Much appreciated as always.
Does monkey still have an opinion on Monero?
1513.
Post 12826869 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
This is starting to look extremely fake in my opinion those Chinese exchanges are ridiculous.
I still find that the MMM ponzi (and copycats) is the most plausible explanation for the rise of the past few days.
But this current sprint seems to be too fast to be due to MMM alone.
Perhaps some Chinese know something (true or false) that the rest of the world doesn't know yet.
It does not seem to be a repeat of the Jun-Aug Greek bubble -- that is, Westerners buying on the mistaken belief that the Chinese will rush to bitcoin as a hedge against some Chinese crisis. The Chinese exchanges are leading this time.
But it may be simply a speculative frenzy: people buying like crazy just because they see the price shooting up, without knowing why, or caring to.
So.... You have no idea what is happening or why, yet you feel compelled to share some of your unfounded guesses?
I liked your content better when you were sharing the results for your thesis on the Chinese slumber cycle. At least that had some data behind it.
Come on, professor! Step your game up!
1514.
Post 12827021 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.29h):
I think all of us bulls should take this opportunity to short the market. All together. They'll never see it coming. Midnight EST. Who's with me???
I'm sure we could knock it down 10% in half an hour. Take profit and then go long again.
Monkey tells me that will happen with or without you. Tops out near midnight US, drops to ~~316 by morning, then resumes the ramp. Last temporary drop. Next one spells a downturn on the larger scale. I am just the messenger.
Excellent news, need more time.
1515.
Post 12837446 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
so when does this shiz go exponential?
in ~ 6 months
we'll be trading in the 300's for a while, accumulating all the bears and the dumb fucks coins then we start to really move up!
Mmmm maybe, I was hoping for dumpstyles, I don't want the accumulation stage to end, so I'm still optimistic that we will see massive correction back to 230...
Realistically, at least I think it's not going ballistic. 300-400 is the new 200-300,
6 months of bouncing in the 3-4 hundred range still be fine, slowly creeping up to 500 around the time of the halving, 6-9 months after that I just hope we can stay below 5000.
1516.
Post 12837461 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
so when does this shiz go exponential?
in ~ 6 months
we'll be trading in the 300's for a while, accumulating all the bears and the dumb fucks coins then we start to really move up!
Are you sure?
Woah woah, didn't Russia ban bitcoin?
Why the hell is the volume in lbc that high?
ya i was thinking the same thing,
i think they face years in jail for playing with crypto
maybe the rich Russians are above there retarded laws.
When something is forbidden, it makes it more desirable.
1517.
Post 12837502 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
Working on the eleventh consecutive green candle on the 12 hour chart,
I'd like to see a comparison of Oct-Nov 2013 overlayed with the same months from this year...
1518.
Post 12837514 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
so when does this shiz go exponential?
in ~ 6 months
we'll be trading in the 300's for a while, accumulating all the bears and the dumb fucks coins then we start to really move up!
Mmmm maybe, I was hoping for dumpstyles, I don't want the accumulation stage to end, so I'm still optimistic that we will see massive correction back to 230...
Realistically, at least I think it's not going ballistic. 300-400 is the new 200-300,
6 months of bouncing in the 3-4 hundred range still be fine, slowly creeping up to 500 around the time of the halving, 6-9 months after that I just hope we can stay below 5000.
i think we'll stay in this order of magnitude randomly bouncing up and down, with a pretty clear upward drift, then all of a suddenly we are going to shoot for that 32,000$.
the way i see it once we break 1000 its for a good reason, like bitcoin in the news as a safe haven from the world economic crisis, we'll see the Fiat world crumble and at the same time we'll have big banks and institutions proclaiming bitcoin as the solution / natural evolution of money. shit is going to go wild, with bitcoin as the official future of money we can EASILY see 1000 - 5000 $ in a week.
Too soon. I'd like to see that after the next halving, in 2020.
As low as possible for as long as possible.
1519.
Post 12837531 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
Seems like buying is synchronous now from all parts of the world. That is indeed frightening.
Happy Halloween everyone!
1520.
Post 12853082 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
I was too impatient and bought at too high a price this morning
Seems we are above that now
You still buying?
I am hesitant to buy above 400 CAD...
I am wait, hope Tami is right, this is not the end for accumulation period.
I hope...
1521.
Post 12853795 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
I was too impatient and bought at too high a price this morning
Seems we are above that now
You still buying?
I am hesitant to buy above 400 CAD...
I am wait, hope Tami is right, this is not the end for accumulation period.
I hope...
I bought 3 times above 300. 303, 311 and today @ 319 for small amounts. Because each time I felt the price was going up short term and so far it has. Long term I think we all know where it's going. If tarmi is correct I will happily buy more.
@ r0ach, For most of the past year I couldn't buy much as I have had a rough few years and had to dig myself out of unexpected debts. I'm sure I have nowhere near what many here have or what I would like to have. Hence why I bought today while I had a bit of fiat.
Ever since January the strategy of buying a little each paycheck has so far paid off. If block size debates are settled (I think they will be) and once supply is cut in half I think price will continue to rise...
It's just difficult when you look at purchase history and see buys at 271, 289, 315 etc and then think that buying at 420 is a good idea...
If it continues to rise unabated then of course, it would be a good decision. I'm just speculating that it's too soon. Too far ahead of the halving. I
think hope we have one more big dip before final takeoff...
(Errr, corrected 'think' for 'hope')
1522.
Post 12854827 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.30h):
Whole world is going to shit.
Enjoy it while it lasts.
1523.
Post 12882698 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.31h):
Woke up to see 500... thought "oh, that must be CAD"
...
NOPE!
Oh well, summer is over and so is the sideways. Accumulation period is over and pricing in the next halving should take several months...
Exciting times!
1524.
Post 12899812 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.32h):
Loved the YouTube video! Reminds me of the old "we are not just friends we are family" video that Al P loves...from the old Crave rally days!
Mr Pumperitis ...Goose...Al P ! S..... Anon ! Where you boys at I thought we was family!
Al is your IP address still blocked...? love Ya bro! tell Bobby D I'll do the limestone patio for a few beers or a nice bottle of whiskey!
Disclaimer:I'm all in till next weeks check...
Cheers!
Jack
Same boat here, It would be really nice if we could retrace back to low 300's in time for next paycheck...
Come on bears! Make it happen! If you can push it even lower I will buy even more next month!
1525.
Post 12899984 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.32h):
2 days in a row that I could not buy or sell
What do I do now, buy or sell?
I can't tell you what to do. Me? I'm gonna wait a bit, hope the irrational enthusiasm wears itself out...
Bids starting at 420 CAD and getting larger if we can go lower.
1526.
Post 12900028 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.32h):
320 soon
I hope so, it's like the market just took off, and I figured "if you love something, you gotta just let it go, if it comes back, it's yours forever."
Come back bitcoin! Come back!
1527.
Post 12900044 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.32h):
320 soon
More like 520. It looks like the new bottom has been tested three times now. We should go up from here.
The more often a level of resistance or support is tested, the more likely it will be broken.
Not sure why the double & triple bottoms meme got so much traction.
1528.
Post 12900153 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.32h):
DRAMATIC MUSIC XD
Jimi Hendrix May This Be Love -
http://m.youtube.com/watch?v=4B27k0Kt8RkWaterfall....
1529.
Post 13019130 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.34h):
Ok, everyone need to calm down. First,
Most Canadians I know thought it was already legal,
Most Canadians know that trying to make a plant that grows nearly everywhere illegal is just plain silly.
Second,
Could you all just crash this thing back to sub-250 already? My bids are waiting...
"As low as possible for as long as possible"
1530.
Post 13019182 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.34h):
you guys heard the news?
crypto is done!
Again?
1531.
Post 13027432 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.34h):
I don't completely agree with the tactical decisions Hearn made over the last year, and I'd be fine with slower increases than BIP101, but I'm 100% certain he did more for Bitcoin on his worst day than Nov 2013 hdbuck ever will.
If we're still (inexplicably?) stuck at 1MB popescu pogs through the majority of 2016, I'll be lacing up my shoes too.
Hear, hear!
Could someone point out a few of Mr. Hearn's more notable contributions to Bitcoin? I am having trouble finding them. (serious question)
The only commit he made that I know of that ever even made it into the reference client caused the fork back in 2013.
Good riddance.
1532.
Post 13160589 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.36h):
That massive post was actually kinda cool! When I scroll real fast I see smiley face kid waving at me, but when I stop scrolling I can't see it....
1533.
Post 13261248 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.38h):
Closing prices vs. candle peaks has been interesting to watch lately, across more than one time scale (6h, daily, weekly).
12 hr has been my favorite timescale as of late, rather bullish looking these last few months... Yet still long enough that fluctuations are at least a little dampened.
If we can assume that the market has turned and we are now in a majority bullish market, what would it take to revert to a bear market at this point?
Thanks,
1534.
Post 13360927 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
The weather outside is frightful,
Price dipping so delightful,
Just when you think the price will grow...
It goes low, it goes low, it goes low.
Merry Christmas everybody! Cheap bitcoins for everyone!
"As low as possible for as long as possible."
1535.
Post 13360972 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
BTCC leading the dump? WTF?
Pre-rally fake-out? Stop loss hunting?
I dunno?
1536.
Post 13361019 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
Brave knife-jugglers stepping in now,
Dead cat bounce? Or bargain hunting?
...
1537.
Post 13362841 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
The weather outside is frightful,
Price dipping so delightful,
Just when you think the price will grow...
It goes low, it goes low, it goes low.
Merry Christmas everybody! Cheap bitcoins for everyone!
"As low as possible for as long as possible."
So is $420 low for you now?
I seem to remember your disappointment when it went over $300.
I assume like me you are more accumulating rather than trading. Just waking up to this and I have no idea what I will do.
BTW nice song
Still too high, it's like 575 Canadian still!
if it gets back under 400 CAD I might buy more, but for now it looks like I'll have to be content with what I have.
As far as what to do with excess money? Hard to pass on silver at these prices... Also hoping for a housing crash and maybe get some property bargains,
1538.
Post 13409479 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
I'm still not sure which team to support. "big blockers" or "small blockers".
Still waiting on the team mascots to decide which is better.
Don't bother, this whole argument is just a sham after all...
http://qntra.net/2015/12/the-false-dilemma-of-xt-versus-blockstream/
1539.
Post 13415426 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
The problem is that the cost [ of validating a transaction ] grows like N^2 for N inputs.
By the way, there is no excuse for the cost to be quadratic. That is one of the many crocks in the BitcoinCore implementation, that will take more crocks to work around. Like the Segregated Witnesses proposal, malleability and its partial patches, blockchain voting to increase the limit, etc..
There you have another possible failure mode for Bitcoin: runaway code crockification (RCC). As the code gets more complicated and ugly, fewer competent people will be willing to work on it. Their place will be taken by incompetent pople, who will add even more crocks -- and so on until the code will fail and there will be no one capable of fixing it in time.
Just a possibility; but after seeing the malleability problems, the Fork of July fiasco, the "fee merket" plans and the RBF hack, the Seg Wit proposal -- I fear that the RCC may be already underway...
Curious, professor, to have your take on current efforts to
de-crock the Satoshi codebase going on here ->
http://thebitcoin.foundation
1540.
Post 13416423 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
We need bubble.
we need a berry, berry big bubble imho
I however see sideways price action (as per usual in btc)in 2016...consensus among BTC devs not gonna go fast imho...baby steps....more banker fud that blockchains are the future and bitcoin is dead..and of course some other crap...like say Crpstey going 'kaput' or something else.....it is "the way of bitcoin" tm (zen like in its own way) ie .... "Channel the FUD grasshopper"
Happy New year Searing! Hope your scrypt miners are keeping you warm and toasty! (The Neptunes are barely collecting double their electricity cost at this point and difficulty is rising fast.)
I just had revelation from an unlikely source and you get to be the unlikely target of my unabashed cross-post.
Re: bitcoin fungibility.I'm not sure bitcoin is well suited for true fungibility. The transparency is a feature, not a bug, and provides great value. I would prefer our governments would conduct all business in bitcoin so that we wouldn't have these accounting errors like the department of defense admitting misplacing a trillion dollars on September 10...
Perhaps this is a better role for bitcoin; a clearing layer for equities and bearer bonds and land titles and international settlement and such; but I'm not certain that this is the best answer for the dream of digital, private, truly fungible cash.
Monero is making moves to incorporate I2P protocol to further improve anonymity. If interested please check out latest Monero missives podcast.
http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-12-26.mp3Btw, Monero is pretty much the cheapest it's ever been right now, almost a thousand to one bitcoin... Not pumping, just saying.
1541.
Post 13417673 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.39h):
Perhaps this is a better role for bitcoin; a clearing layer for equities and bearer bonds and land titles and international settlement and such; but I'm not certain that this is the best answer for the dream of digital, private, truly fungible cash.
Monero is making moves to incorporate I2P protocol to further improve anonymity. If interested please check out latest Monero missives podcast.
http://traffic.libsyn.com/monero/Monero_Missives_Podcast_for_the_week_of_2015-12-26.mp3Btw, Monero is pretty much the cheapest it's ever been right now, almost a thousand to one bitcoin... Not pumping, just saying.
If BTC can't perform the role of cash due to scaling it's unlikely that cryptonote coins would become e-cash without some kind of breakthrough in scaling - as they are way worse than BTC (at least in that aspect).
Of course cryptocurrencies are emerging technologies and we have no idea how far this is going to go into the future.
A web page in 1995 was designed with considerations like "will it download fast over a 2400 bps modem?", "is this gif *really* necessary? the load times are slow", etc etc... but fast forward 20 years later we have 1080p and 4k videos / 60 fps through our browser.
Perhaps bandwidth, network speeds, processing speeds, storage, in say 10-15-20 years will be so dramatically improved that even "heavy" blockchains are quite normal for everyday use without anyone even thinking about it.
Yeah, there is an overhead problem, but I like the niche use case. Also, the Monero blocksize is flexible and responsive and scaling is built-in. At least until network effects have an affect, at which point Monero has become successful enough that I expect there would be sufficient incentive to pay developers to find solutions.
In closing, I'm not married to any one currency at this point, still mostly in btc, just from being lucky to be around back in the day, but I like to get at least a little piece of everything when it's cheap... You never know....
(Full disclosure: My personal hope and most of my efforts are directed towards the safe network project at this point. If they can get a network that is truly secure by default running, and if they (we?) Can make it easy and accessible, then I think we already have the framework to do currency at that level.)
Happy new year everyone and let's push for ever more in 2016.
1542.
Post 13533654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.40h):
What's this? Recovering already?
Dead cat bounce?
"As low as possible for as long as possible."
And so I come to the wall observer to seek the wisdom of said observers to find only that they have been foolishly arguing about frivolous diversions from the current state of bitcoin, as if it were so easy...
Price up or Price down? And Why? .. Ok, I'll go first.
Disclaimer: I'm not putting any of my own money into this speculation. My position is set, I am not anticipating changing my position in the near future ( a few months at least)
I say, Price is going up.
Short, mid, and long term. ☝ UP! (Or zero, there is always zero)
I can see a scenario where the price will dip. This is, after all, an asset class that has a true worst outcome of zero. Like holding onto a rotting crop. There exists the chance this will all be worth nothing and it can happen so quickly that you may not be able to cash out in time.
All commodities are having trouble finding a value right now, or the market is trying to come to terms with the fraudulent nature of the entire system and it's relation to assigning some measure of value that makes sense.
Ok, that's it, sorry it got so long, if I get too wasted to stay up and read your prediction, (or if I don't anger your pm for a week) please have mercy on this old soul and don't hold it against me.
1543.
Post 13655324 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
XT altcoin was much more serious bitcoin take over attempt than this joke named ClasSick.
You seem scared.
Those who solely support Core
are getting scared. So scared in fact that they're now discussing a change of PoW if Classic hardforks.
They are discussing the nuclear option if they don't get their way. Telling.
From my recollection, the group threatening the "nuclear option" is not promoting core, but promoting a pure, uncluttered version of bitcoin they have been working on (available here ->
http://thebitcoin.foundation )
If bitcoin hard forks, and if your preferred fork were not in the majority, a change PoW algorithm would be rational and recommended. In fact, depending on the split of hashpower, refusing to change the proof of work algorithm would be suicidal.
I'm still undecided, I appreciate the value that a group like blockstream can offer in terms of innovation. I also appreciate the value of a group like The Serene Republic can offer in terms of protecting the vision of incorruptible money.
I have no dog in this fight, and I haven't been following very closely lately. My position is set, my coins are old and will spend on whatever forks emerge so I'm not as immersed as I used to be. --but... if you are bullish about the long term prospect of bitcoin, but uncertain of the resolution of this bitcoin civil war, your best option might be to simply secure as many bitcoin as you can before the hard fork happens to secure your place on all subsequent forks.
1544.
Post 13657218 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
The more contentious alternatives the better. The HF only triggers at 75% - thats 75% for Classic.
That means that core must now share the remaining 25% with all the other implementations. They will attack each other into oblivion.
Check out the link, comrade. There is no competing over 25% remaining ASICs' with what is being discussed. It is both fascinating and encouraging and we shouldn't worry regardless the outcome. I am at peace with a potential HF and Classic. Either way, the future is great.
P.S.. 75% of hashing does not equal an economic majority or a majority of users. Appears to be more supporting Core, but who knows , such a difficult thing to measure. GPU only mining would bring in many new participants who left for other alts long ago , and casual gamers with good gpus as well .
Any fork with a low hashrate would be subject to what Luke-jr did
with to Coiledcoin.
Hi Richy, what if the lesser fork adopts a new proof of work algorithm that obsoletes the existing mining hardware?
1545.
Post 13657497 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
Any fork with a low hashrate would be subject to what Luke-jr did with to Coiledcoin.
Hi Richy, what if the lesser fork adopts a new proof of work algorithm that obsoletes the existing mining hardware?
I believe when Luke-jr did what he did, we were not on ASICs yet. Starting from scratch is rolling the dice. There are a lot of powered down (or being used on altcoins) GPUs out there. Who controls them?
ASICs will be produced for the new POW in a couple of weeks to months tops in any case. Or would be if it wasn't going to be effectively dead.
From my memory of the asic race it would take 6 months at least, probably closer to a year, but that's not important. What I'm considering is that it would be
necessary to change PoW in the case of a hard fork simply to avoid the risk of attack from the existing sha256 mining hardware..
On the less popular chain, blocks would grind to a halt under the existing difficulty. If we assume 10 percent remain then you would expect 1 block every 100 minutes, at least until the next difficulty adjustment, which would be a very long time because difficulty is adjusted every 2016 blocks. If you reduce the difficulty artificially to allow blocks to be mined and transactions to happen in a timely fashion then It becomes trivial for any mining pool to quickly switch over and mine a bunch of your blocks and then dump the coins...
I think, in the situation where one would want to cling to a minority chain after a hard fork, an algorithm change is
essential.
Also, there is no incentive to design or build asics to run the new algorithm unless it is insanely profitable, as was the case when the first bitcoin asics came on the scene.
1546.
Post 13688753 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
There are still miners out there with old versions of the software and running the defaults. Thus, if there's not too much of a backlog, it's quite possible zero fee transactions will get included.
So if zero fee transactions are actually a problem, perhaps it is better that we do have a bit of miner centralization so we have professional miners who actually pay attention to what they are doing instead of a bunch of amateurs not acting in their rational self-interest as was supposed to happen.
Don't amateurs mainly hash for pools? It seems hard to believe there's any significant hashrate operated by hobbyists who actually run their own bitcoind for mining.
Good point. And mainly so I think. In fact, some of the offenders seem to be large pools. Antpool and slush appear to be still mining with a 750000 soft limit so it would be interesting to see if they were mining 0 fee transactions also.
I send 0 fee transactions all the time and so far they've always* gone through, so there's definitely still a decent percentage of miners that accept them. The only time I pay a fee is if I'm using a web wallet or phone wallet where the fee is built in, or if I'm sending coin to an exchange to make a trade and time is of the essence.
* (I did have 1 unconfirmed from a test during the mtgox malleability fiasco, but it actually went through, just my client thought it didn't)
1547.
Post 13691661 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
What's the longest wait you had for a transaction to go through? When the spam attacks were running people who paid fees were waiting over half a day, and the backlog took a week to clear. Did you try sending any zero fee transactions while those attacks were ongoing?
Longest wait was when I tried to buy my first Avalon, they wouldn't give me an order number until my transaction confirmed, I was watching people chime in with order numbers going up and up, felt horrible, I don't remember exactly how long it took, I waited a couple hours, then went to sleep, so sometime between 2 and 6 hours.
I did not try any 0 fee during the height of the stress testing, in hindsight I wish I had. I did send a couple with minimum fee that were confirmed in first or second block.
Even without a fee I suspect they would have been confirmed pretty quick just because of the age of the coins and because they are from mining so typically very close to their respective genesis blocks and they are typically from a single unspent output...
Doesn't say much for fungibility, but not all coins are considered equal unfortunately. Also not great for scalability as the more the coins become split up, the more they are exchanged back and forth, the more difficult they become to move...
Edit: in fact, if this bitcoin thing continues to succeed for the next several years at some point I could envision that old coins in big chunks will sell for a premium to payment processors simply because using these less tarnished coins could bring considerable savings in transaction costs...
1548.
Post 13699962 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
either we break 400 again in the next few hours or we will see another dump to sub 380, mark my words
Words have been marked. Good call.
1549.
Post 13700375 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
Who has been holding from $502, $475, $465, and $428?
When are you gonna sell? at $350? 300? 200?
Price can't go up because transaction volume can't go up. It's that simple, so unless you know about some secret deal between core, nodes and miners to increase capacity, enjoy watching the value of your holdings slowly deteriorate.
You're such a douche.
1550.
Post 13713816 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
1551.
Post 13724252 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
am so glad i trusted my instincts and bought 100 at $372.58
390 it is right now and variation upwards more than downwards.
am so glad I distrust anything from an account that was bought.
What's the matter, couldn't find anything else to do with your life?
but if it drops to $380-$385 am dumping all and do something else with my life.
1552.
Post 13728904 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.42h):
I still look back at the initial transaction message that Satoshi sent with the press release about how badly the credit card industry is destroying us all. The goal first and foremost should be to beat the credit card companies. Using Bitcoin as a currency was never really part of the plan.
Interesting, you mean this initial transaction message?
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
I don't read any mention of credit cards in that message at all... On the contrary, I got the feeling Satoshi was fed up with the fraudulent banking system so he created a new form of money which could not be manipulated by banks, governments, or anyone else for that matter.- - - payment networks and the fees they charge are small potatoes when compared to the corruption and blatant criminality of the system of fiat money we are dealing with today.
The real innovation here is not a better visa or PayPal network. The important innovation is that we now have a form of money whose creation and control is transparent and auditable - which is a far cry from the money system that we have been saddled with up till now.
1553.
Post 13808825 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.43h):
You can't win, smallblockers. It doesn't matter who you DDoS or what other dirty tricks you pull, when the market tanks, the miners will switch to big block code.
Big Blockers Be Bonkers
1554.
Post 13885499 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Hey Jimbo! What's the good word? Any idea where this current move is going? I thought we'd be going down and sideways a bit longer. Really didn't expect this! How's the weather?
I think we're just still recovering from the panic caused by the Mike Hearn BS. We'd been above $400 for over a month before that crap.
If I had to guess at the ongoing trend, I'd say we're probably going to continue creeping slowly up, at least until the Chinese new year season is done. After that we might see a more significant movement, hopefully up.
The weather? Freaking cold. Halfway through one of the mildest Februaries on record, we get a real cold snap, -26C with a windchill of -33. Brrr. Time to put the soup pot on.
Meanwhile it's like plus 5 in Edmonton... Thanks for swapping weather with us this year!
1555.
Post 13898248 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Have any of you actually listened to the Gavin interview?
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-282-bitcoin-classic-with-gavin-andresenFirst question was about national security letter, which of course he could not answer, second question?
"When were you co-opted and why are you trying to destroy bitcoin?"Answer: (after 10 seconds of maniacal laughter and umming and awing)
a couple years ago, and yes, I've stopped beating my wife. <- making the question seem ridiculous is a common tactic for answering a question that incriminates you without lying. Anyone who was not compromised would simply and indignantly say "I am not compromised and I'm not trying to destroy bitcoin." But he doesn't, he admits to being compromised and then tries to imply the question is ridiculous so that, by association, his answer will also be considered ridiculous.
By his own words, he is compromised. It should have been obvious the minute he started advocating for 8GB blocks, but some of you are still oblivious.
Just listen to it, it's in the first two minutes of the show.
1556.
Post 13898274 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Seriously, Gavin was asked straight up "When were you co-opted and why are you trying to destroy bitcoin?"
Gavin answers with " a couple years ago - and yes I've stopped beating my wife - I guess is the only appropriate answer to that."
Who the Fuck would say something like that?
1557.
Post 13898335 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Have any of you actually listened to the Gavin interview?
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-282-bitcoin-classic-with-gavin-andresenFirst question was about national security letter, which of course he could not answer, second question?
"When were you co-opted and why are you trying to destroy bitcoin?"Answer: (after 10 seconds of maniacal laughter and umming and awing)
a couple years ago, and yes, I've stopped beating my wife. <- making the question seem ridiculous is a common tactic for answering a question that incriminates you without lying. Anyone who was not compromised would simply and indignantly say "I am not compromised and I'm not trying to destroy bitcoin." But he doesn't, he admits to being compromised and then tries to imply the question is ridiculous so that, by association, his answer will also be considered ridiculous.
By his own words, he is compromised. It should have been obvious the minute he started advocating for 8GB blocks, but some of you are still oblivious.
Just listen to it, it's in the first two minutes of the show.
Nope. The question is pretty ridiculous.
https://en.wikipedia.org/wiki/Loaded_question" "Have you stopped beating your wife?" Whether the respondent answers yes or no, they will admit to having a wife and having beaten her at some time in the past. Thus, these facts are presupposed by the question, and in this case an entrapment, because it narrows the respondent to a single answer, and the fallacy of many questions has been committed.["
When asked such a question, why would you not answer with "I have never beaten my wife." Unless you have?
Also, if you truly had the best interests of bitcoin at heart, why would you propose 8GB block size?
I do not trust that snakey bastard.
1558.
Post 13898351 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Seriously, Gavin was asked straight up "When were you co-opted and why are you trying to destroy bitcoin?"
Gavin answers with " a couple years ago - and yes I've stopped beating my wife - I guess is the only appropriate answer to that."
Who the Fuck would say something like that?
Someone asked a non-serious question gave a non-serious answer. Gavin sounds more mentally balanced than you do. You think the CIA and the CFR have mind control rays or something? You can't flip Gavin because he's a boring computer nerd who pays his taxes. he's boring. They have no control over a guy like that and if they did, you would see a change in his personality, and there hasn't been one.
What was he supposed to say when invited by the CIA? Fuck off? How would that have helped us? He probably told them they could use it to pay their informants. It's what I would have said.
Ah, Billie Joe Ellen , you sir are a moron.
1559.
Post 13898378 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Seriously, Gavin was asked straight up "When were you co-opted and why are you trying to destroy bitcoin?"
Gavin answers with " a couple years ago - and yes I've stopped beating my wife - I guess is the only appropriate answer to that."
Who the Fuck would say something like that?
So when did you become a pedophile and start raping your son, shmadz?
I am not a pedophile and I have never raped anyone.
See? How fucking difficult is it to tell the truth?
1560.
Post 13898407 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Seriously, Gavin was asked straight up "When were you co-opted and why are you trying to destroy bitcoin?"
Gavin answers with " a couple years ago - and yes I've stopped beating my wife - I guess is the only appropriate answer to that."
Who the Fuck would say something like that?
So when did you become a pedophile and start raping your son, shmadz?
I am not a pedophile and I have never raped anyone.
See? How fucking difficult is it to tell the truth?
Flat denial. Just like every other sick pedo when cornered. Had your answer all figured out in advance, "as if" you knew this question was going to come up
Right, because after being asked "When were you co opted" going um, hmmmm ahhh, he he, ummm for 10 seconds before answering "a couple years ago" is a much better declaration of innocence?
1561.
Post 13898484 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Seriously, Gavin was asked straight up "When were you co-opted and why are you trying to destroy bitcoin?"
Gavin answers with " a couple years ago - and yes I've stopped beating my wife - I guess is the only appropriate answer to that."
Who the Fuck would say something like that?
So when did you become a pedophile and start raping your son, shmadz?
I am not a pedophile and I have never raped anyone.
See? How fucking difficult is it to tell the truth?
Flat denial. Just like every other sick pedo when cornered. Had your answer all figured out in advance, "as if" you knew this question was going to come up
Right, because after being asked "When were you co opted" going um, hmmmm ahhh, he he, ummm for 10 seconds before answering "a couple years ago" is a much better declaration of innocence?
Thank goodness
you knew I was gonna ask about your little frolic with your neighbor's boy & had your answer well rehearsed -- GG, you sick fuck, good game
The truth always comes out. When someone asks "When were you co-opted?" And you answer "a couple years ago" ...
How can you believe that Gavin has not been coerced when he openly admits it and - to my knowledge - has never explicitly denied it?
I would be overjoyed if Gavin were not compromised, he always seemed like "one of the good guys" -- if you could provide a link to a page where he explicitly denies any coercion I'd be grateful.
1562.
Post 13898688 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Have any of you actually listened to the Gavin interview?
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-282-bitcoin-classic-with-gavin-andresenFirst question was about national security letter, which of course he could not answer, second question?
"When were you co-opted and why are you trying to destroy bitcoin?"Answer: (after 10 seconds of maniacal laughter and umming and awing)
a couple years ago, and yes, I've stopped beating my wife. <- making the question seem ridiculous is a common tactic for answering a question that incriminates you without lying. Anyone who was not compromised would simply and indignantly say "I am not compromised and I'm not trying to destroy bitcoin." But he doesn't, he admits to being compromised and then tries to imply the question is ridiculous so that, by association, his answer will also be considered ridiculous.
By his own words, he is compromised. It should have been obvious the minute he started advocating for 8GB blocks, but some of you are still oblivious.
Just listen to it, it's in the first two minutes of the show.
I listened to the whole show, including the first couple of minutes as you described.
I also made a posting about Gavin.
Here:
https://bitcointalk.org/index.php?topic=178336.msg13896428#msg13896428Ultimately I agree with your conclusion that Gavin his not coming off as trustworthy; however, those first couple minutes are not a true indication of anything except that the question was a kind of attempt at a joke in which the moderators were mocking various claims made within the bitcoin community. Maybe Gavin did not know that the question was coming, but it was clear that everyone knew it as a softball set of question.. to start out in kind of fun and to show Gavin that largely the moderators did not believe the outrageous claims against Gavin.
Anyone in the public eye in bitcoin realize that many unfair claims are thrown at persons in the public light, and so with those starting off questions they were largely empathizing with him.
I hear you about Gavin's kind of nervous laugh in the beginning and around those two questions, but since Gavin was not really being challenged, without knowing more, it would not be fitting to read too much into the initial nervous laughing in that short context.
Sure, you can assume whatever you like.
When asked a straight question, I expect a straight answer.
1563.
Post 13898796 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Did you see my earlier post on the topic that I linked for ease of reference?
No. I pretty much ignore anything you have to say.
It's unfortunate. I'm sure sometimes you say something worth reading, but I've done the calculations; the massive amount of meaningless text that you spew is simply not worth the time to read.
1564.
Post 13898822 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Did you see my earlier post on the topic that I linked for ease of reference?
No. I pretty much ignore anything you have to say.
It's unfortunate. I'm sure sometimes you say something worth reading, but I've done the calculations; the massive amount of meaningless text that you spew is simply not worth the time to read.
Now here's an opportunity for some non-contentious consensus.
"Brevity is the soul of wit." - William Shakespeare
1565.
Post 13898904 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
... Brevity is the soul of wit.
Not plagiarism? Good Artists Copy; Great Artists Steal? --BrainyQuote.com
(Who, consequently, was never called an asshole.
Not like you) --Brainyqote.com
Fixed - thanks.
1566.
Post 13899090 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
...
NMN are important for the security of their users, not the network.
You better talk to your buddies at BTCC about the whole 1 node per economic agent letter to santa principle.
Security based on encouraging people to do the right thing. What can possibly go wrong?
(If you riddle out "economic agent" & "economic majority" (as defined in Bitcoin wiki), drop me a line.)
Yeah, the Byzantine problem is provably unsolvable.
The incentive-based solution of bitcoin has only been proven to work for the last 6 years.
Take a look at the incentives in the current system of money issuance and tell me there's no problem.
1567.
Post 13899209 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
Not sure how real money plays into this. Explain please.
Sorry brah, BitUsher said it best...
P.S... Everyone should ignore the user "bargainbin" , look at his post history and you can see he constantly wastes people time by asking the same questions over and over, and trolls to create dissent. He/She isn't genuine and intends to do our ecosystem harm.
Btw, "real money" hasn't been real since the '70's
1568.
Post 13899235 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
...
P.S... Everyone should ignore the user "bargainbin" , look at his post history and you can see he constantly wastes people time by asking the same questions over and over, and trolls to create dissent. He/She isn't genuine and intends to do our ecosystem harm.
The question has never been answered, that's why it's being asked again and again. Clearly Cconvert2G36 had *exactly the same questions*, which you *again* failed to answer.
But great job playing the tinfoil hat "intends to do our ecosystem harm."
What question? Ask your question plainly.
1569.
Post 13899288 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
...
P.S... Everyone should ignore the user "bargainbin" , look at his post history and you can see he constantly wastes people time by asking the same questions over and over, and trolls to create dissent. He/She isn't genuine and intends to do our ecosystem harm.
The question has never been answered, that's why it's being asked again and again. Clearly Cconvert2G36 had *exactly the same questions*, which you *again* failed to answer.
But great job playing the tinfoil hat "intends to do our ecosystem harm."
What question? Ask your question plainly.
Yes, will repeat:
... What I'm trying to grasp is the reasoning behind non-mining nodes, which are neither a part of satoshi's white paper nor make any sense (above being the only real (albeit impractical) wallet). ...
What the Fuck is a "non-mining node" if not a wallet?
If you had significant wealth invested in a system, you would expect your interface to validate transactions, correct?
1570.
Post 13899343 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
explain that shit.
No.
I'll repeat. Ask plainly, or fuck off.
1571.
Post 13899529 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
[
Do you know *anything* about Bitcoin nodes, or will asking further questions be unproductive?
All I know about bitcoin nodes is that any attempt to change the rules of consensus will end badly.
Probably exactly the result you're looking for.
1572.
Post 13899578 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
...
NMN are important for the security of their users, not the network.
You better talk to your buddies at BTCC about the whole 1 node per economic agent letter to santa principle.
Security based on encouraging people to do the right thing. What can possibly go wrong?
(If you riddle out "economic agent" & "economic majority" (as defined in Bitcoin wiki), drop me a line.)
Yeah, the Byzantine problem is provably unsolvable.
The incentive-based solution of bitcoin has only been proven to work for the last 6 years
Take a look at the incentives in the current system of money issuance and tell me there's no problem.
Honestly don't understand what you're trying to say. What I'm trying to grasp is the reasoning behind non-mining nodes, which are neither a part of satoshi's white paper nor make any sense (above being the only real (albeit impractical) wallet).
Not sure how real money plays into this. Explain please.
I'm saying that the control of money issuance is the real problem.
1573.
Post 13899720 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.44h):
[text effects]I'm saying that the control of money issuance is the real problem.[/text effects]
No.
Love of money is the real problem, it's a sickness. Like cancer. Like AIDS. And even that's a derivative, so not even that.
You're cute
1574.
Post 13952578 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
anything below 460 is pure GOLD
Awww, yeah!
https://youtu.be/hj-jPJK8DEESit back, sip that Hennessy, and watch the money flow.
1575.
Post 13952782 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Anyone still remotely concerned about a hard fork has not sufficiently diversified the bags they are holding. IMO
Seriously, if you've been around long enough to recognize the hard fork as a threat, you should have had plenty of time to find a nice position on one of the many potential lifeboats available.
Best of luck, everyone! "As low as possible for as long as possible." - accumulation ain't done yet!
1576.
Post 13952918 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
...
was this all for show?
omfg i hate that guy
Is that Peter Todd?
1577.
Post 13953044 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
and the price has stopped rising, it fell 5 dollars since the last automated post, i guess people were willing to see something better than this, they did all the work to create new speculations? thats crazy
i have never seen such a rapid pace in the price increase, i knew it might be fast but 5 dollars per hour is just insane
$5 insane? I guess you haven't been around long enough to see the legendary Bitcoin volatility at work. Here are a 2 consecutive Chartbuddies from the day of the Silk Road bust including the panic and the "dead cat" bounce. That was a lot of action for 2 hours.
images
In Bitcoinland what goes down must come back up.
oh wow i have never seen this, im pretty new to bitcoin to be honest so i thought that it is not usual
This price stability is actually quite new to bitcoin also. The effects you are watching are the price to pay for long term stability. Speculators are not going to stabilize the price for free, after all.
tl;dr - without the extra liquidity and futures options the price would be far more volatile.
1578.
Post 13953191 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
nice this isn't it
Quite.
1579.
Post 13953304 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
I hope you've learned something here, besides what it feels like to be crushed by a 75,000 horsepower iCEBREAKER.
You'll always be a loser in my eyes.
If pouting helps you feel better about Classic losing the debate and getting #R3KT in exactly the way I told you would happen, go for it.
You probably also believe a tiny roomful of nerds eating sushi has the power to compel Honey Badger and commit him to future actions.
How sweetly naive, how adorably innocent.
I like your new signature quotes, but I miss the old avatar... I guess this is a zero-sum game after all?
1580.
Post 13953369 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
At the liquor store this afternoon I was promised an exceptional cabernet sauvignon for less than 25 dollars... For once I was not disappointed.
Cheers, bitcoiners!
1581.
Post 13953547 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
I like your new signature quotes, but I miss the old avatar... I guess this is a zero-sum game after all?
I miss my Classic avatar too. The video in the pics from Russia thread reminded me how much I like it!
It will change back soon. And the sig quotes get rotated. Too many good ones to fit in 3 lines.
Thermos should let us pay to disable other users' option to not display sigs!
Cool, btw, you offer Theymos enough money, he'll let you do whatever you like... He's a very liberal capitalist, from what I understand.
1582.
Post 13953655 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
I like your new signature quotes, but I miss the old avatar... I guess this is a zero-sum game after all?
I miss my Classic avatar too. The video in the pics from Russia thread reminded me how much I like it!
It will change back soon. And the sig quotes get rotated. Too many good ones to fit in 3 lines.
Thermos should let us pay to disable other users' option to not display sigs!
Cool, btw, you offer Theymos enough money, he'll let you do whatever you like... He's a very liberal capitalist, from what I understand.
"liberal capitalist" == soul to sell no?
I tend to very loose interpretations of definitions, but I guess? If the price is right? Why not?
*edit* for example- some would consider that some religions force you to obey a strict ruleset in order to get into "heaven" ... Is that not selling your mortal soul so that your immoral soul might live on in paradise?
If you properly define "soul" then perhaps we can come to an acceptable price.
1583.
Post 13954690 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
the price is standing right now i hope no one will start dumping as it would surely not be a good thing to do after such a big price rise
If you're afraid of a dump. Go short and buy back lower.
If you're afraid of a dump, you've been eating food that's too spicy.
1584.
Post 13954832 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
please, core devs, move over and make some room besides you, we don't want much, we just want to be sure we can have a hardfork, even against you, if we really want to. Also a little more room on the blockchain to welcome more users until there are "real" scaling solutions would be nice)
You'll get "a little more room" with segwit.No fucking way the Classic camel's nose will be allowed into Core's tent.
You know where you are more than welcome to put your thin wedge.
"We really want to" is the worst reason for a hard fork imaginable. Use fiat if you so love the moral hazards of majoritarianism's good intentions.
Don't forget the HF Core just agreed to. #1MB4
EVANOTMUCHLONGER
^ thinks core controls bitcoin^
Sorry dude, bitcoin is not some kind of popularity contest like the U.S. elections.
Unlike what Satoshi might have said, this is not "one cpu, one vote"
The blockchain exists, and it resists all attempts to change or co-opt it to fit your nefarious whims!
Good luck with your hard fork! I expect it will be greatly amusing!
1585.
Post 13954930 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
...
Few people decide the future of 'Bitcoin'.... really decentralized , right ?
An unregulated
currency money, created by & for people united by their unwavering
faith in greed being a virtue?
What could possibly go wrong???
That's proof of stake, silly.
Proof of work is serious business, dontcha know?
1586.
Post 13955026 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
new pump incoming ... the crassic storm of poutrage FUD is just feeding the fire now, driving the vortex from the other side.
Anti-fragile demonstrations have been the biggest drivers for bitcoin price appreciation thus far.
FUD harder lusers, it's working for us now
Resistant against coercion from states, corporations, individuals, even core developers!
You cannot fuck with the bitcoin!
http://youtube.com/watch?v=WMQg546agpU
1587.
Post 13955058 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
new pump incoming ... the crassic storm of poutrage FUD is just feeding the fire now, driving the vortex from the other side.
Anti-fragile demonstrations have been the biggest drivers for bitcoin price appreciation thus far.
FUD harder lusers, it's working for us now
Resistant against coercion from states, corporations, individuals, even core developers!
You cannot fuck with the bitcoin!
http://youtube.com/watch?v=WMQg546agpUSo 1MB forever? For EVER ever?
G
Meh, only until over 95% consensus...
I mean, you can try to fork any time you like, but you can never leave. *without overwhelming consensus*
1588.
Post 13955108 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
who voted no?
I haven't checked to verify, but I'd guess MP and the rest of La Serenissima will have their say.
Anyone who thinks a hard fork will not be contentious just isn't paying attention.
1589.
Post 13955139 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
...
Few people decide the future of 'Bitcoin'.... really decentralized , right ?
An unregulated
currency money, created by & for people united by their unwavering
faith in greed being a virtue?
What could possibly go wrong???
That's proof of stake, silly.
Proof of work is serious business, dontcha know?
There's a Russian book about NEP (1920s, after the revolution -- corrupt Soviet privatization program), and, just like today, there were shell corporations which served as facades for whatever_was_really_making_money. Anyhow, in this book they ran a firm called "Horns & Hooves," which had nothing to do with horns or hooves. In the back room, there were two barrels, a length of hose, and a hired boy. The boy's job was to put a full barrel up on the table, connect it with the length of a hose to the empty barrel below, and let the water gravity-siphon into the empty barrel. Once that was done, he simply moved the full barrel onto the table, the [now] empty one to the floor, and repeat the process ad infinitum.
Work.
If barrel-siphoning was a requirement for making entries in a distributed ledger, than this would be a useful analogy.
1590.
Post 13955150 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
who voted no?
I haven't checked to verify, but I'd guess MP and the rest of La Serenissima will have their say.
Anyone who thinks a hard fork will not be contentious just isn't paying attention.
am i the only one that thinks it won't be contentious?
Am I the only one who thinks it will?
1591.
Post 13955307 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
...
Few people decide the future of 'Bitcoin'.... really decentralized , right ?
An unregulated
currency money, created by & for people united by their unwavering
faith in greed being a virtue?
What could possibly go wrong???
That's proof of stake, silly.
Proof of work is serious business, dontcha know?
There's a Russian book about NEP (1920s, after the revolution -- corrupt Soviet privatization program), and, just like today, there were shell corporations which served as facades for whatever_was_really_making_money. Anyhow, in this book they ran a firm called "Horns & Hooves," which had nothing to do with horns or hooves. In the back room, there were two barrels, a length of hose, and a hired boy. The boy's job was to put a full barrel up on the table, connect it with the length of a hose to the empty barrel below, and let the water gravity-siphon into the empty barrel. Once that was done, he simply moved the full barrel onto the table, the [now] empty one to the floor, and repeat the process ad infinitum.
Work.
If barrel-siphoning was a requirement for making entries in a distributed ledger, than this would be a useful analogy.
If a [trustless] distributed ledger was as useful as some would have you believe, it *wouldn't* be a useful analogy.
The point being, is it really *useful* to burn $1 of electricity & buy a dollar's worth of gear to make a $2 bill? And I don't mean "earn $2," literally make $2 bill, to go into circulation, which you could have printed for pennies.
Is it worth it to make the two dollar bill? No.
Is it worth it to provide a mechanism for creating, distributing, transferring and accounting for that two dollar bill for the next 40+ years? On a global scale? Providing trusted means of settlement between antagonistic nations? Whilst preventing any means of counterfeiting?
Yes.
1592.
Post 13955481 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You gotta trust somebody
Right. with bitcoin I need to trust the integrity of the blockchain, that the record has not been tampered with. I can verify this myself, and I can cross-verify with several thousand other nodes across the network.
In a fiat transaction I need to trust the government and central bank, which do not have a great track record over the last hundred years. When was the last time the federal reserve was audited?
1593.
Post 13955533 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Let's look at Adam's poll: 79 percent support the compromise. Totally too small of a samples size, but just for shits and giggles, let's assume that is representative. 75% is NOT consensus, but 79% is?
Consensus is 100%
If you mine a block that 79% agree with you create 2 forks. One with 100% consensus on the old rules, and the other with 100% consensus on the new rules.
Unless you can force the 21% that disagree with the new rules to accept the change and abandon their block history, you effectively now have 2 separate bitcoins.
http://qntra.net/2015/01/the-hard-fork-missile-crisis/ <~ I thought everyone knew this by now?
1594.
Post 13955570 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You gotta trust somebody
Right. with bitcoin I need to trust the integrity of the blockchain, that the record has not been tampered with. I can verify this myself, and I can cross-verify with several thousand other nodes across the network.
In a fiat transaction I need to trust the government and central bank, which do not have a great track record over the last hundred years. When was the last time the federal reserve was audited?
With Bitcoin you only have to trust the government and central bank of China. Chinese miners caved to core. You think they wouldn't cave to their own government?
I'm certain they would capitulate to their government. If they try to make a change or otherwise manipulate transactions their blocks will be rejected and we will fork.
Why can you not understand censorship resistance?
1595.
Post 13955589 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You gotta trust somebody
Right. with bitcoin I need to trust the integrity of the blockchain, that the record has not been tampered with. I can verify this myself, and I can cross-verify with several thousand other nodes across the network.
In a fiat transaction I need to trust the government and central bank, which do not have a great track record over the last hundred years. When was the last time the federal reserve was audited?
Again, you can verify your bitcoin on the blockchain all you want, but
... a transaction is not simply sending the money in one direction. A transaction is only complete when the stuff you paid for arrives at your door. Shit ain't trustless if you want to buy a car from me, you send me your trustless money, and I take your money & show you my middle finger. You get no car. What now?
Bitcoin is solving only one half of the trust equation, the half I never had trouble with in fiat. My bank never stole any of my money, and, what's more, my CC *lends me money at zero interest, to use, for free
Does Bitcoin lend you money?
Oh, and my parents' money was also never stolen by their bank. We're a lucky bunch
As far as auditing federal reserve, I never even audited Bitcoin software, and shit's open source. And BTC goes missing all the time, think Gox. If my bank runs away with my money, gets haxxored, or loses $$$ due to malleability, my account is FDIC insured, so I'm good
Does FDIC have sufficient reserves to ensure
everyone's money?
What about if I live in cypress? Or Greece?
1596.
Post 13955631 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size no more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community.
SegWit is expected to be released in April 2016.
The code for the hard-fork will therefore be available by July 2016.
If there is strong community support, the hard-fork activation will likely happen around July 2017.
So if someone started a purely classic/xt pool and got more than 5% hashing power...
Exactly. If someone ran a purely classic/xt pool and got more than 5% hashing power they should be able to single-handedly prevent any future hard fork of the currently existing bitcoin consensus protocol.
Why do you think there has been no changes to TCP/IP in the last 20 years? Why do you think IPV6 still has less than 1% implementation?
Changes to consensus protocol are not easy, nor should they be.
1597.
Post 13955697 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
TL;DR: A brick could land on my head tomorrow, and yet I trust teh fates & walk around with my head bare. I'm also not investing in a system of underground tunnels to protect myself from bricks which might fall out of the sky. Call me a risk-taker, call me a daredevil.
And China could outlaw bitcoin tomorrow?
I guess we're both daredevils,
Woot?
1598.
Post 13955721 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Damn, the more the time passes, the less I understand this thread xD
The thread is long, the grievances are many.
1599.
Post 13955849 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You gotta trust somebody
Right. with bitcoin I need to trust the integrity of the blockchain, that the record has not been tampered with. I can verify this myself, and I can cross-verify with several thousand other nodes across the network.
In a fiat transaction I need to trust the government and central bank, which do not have a great track record over the last hundred years. When was the last time the federal reserve was audited?
With Bitcoin you only have to trust the government and central bank of China. Chinese miners caved to core. You think they wouldn't cave to their own government?
I'm certain they would capitulate to their government. If they try to make a change or otherwise manipulate transactions their blocks will be rejected and we will fork.
Why can you not understand censorship resistance?
Maybe you can help me understand. So we fork, but we would have to fork away from SHA256 or they could just point to the new fork and doublespend again, right?
Forking seems to be a last resort thing, and there is no code or plan in place to make that kind of switch, to say nothing of no hashpower to secure the new fork, so it could take weeks or months and in the meantime, no Bitcoin. During that time, could not the Chinese easily discover our new hashing algorithm and swamp the hashpools with more doublespending?
So please, explain this censorship resistance. How is this not a vulnerability?
Censorship resistance comes from the fact that change cannot be forced upon the bitcoin network. Anyone who refuses to accept the new blocks will simply do so and continue on their merry way. You can only double-spend bitcoin that you control. The people that are actually using bitcoin will simply continue to use bitcoin. Any strange blocks or attempt to re-write the blockchain will simply be ignored.
The fork is not last resort, the fork will happen as soon as the first block is formed that does not conform with the consensus rules.
1600.
Post 13955866 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Bitcoin: distributed decentralized money secured by cowardly miners concentrated in China. There is no plan or code to switch security measures if they get compromised.
Awesome. This is where I keep my life savings. I'm a fucking genius.
I suggest you sell all bitcoin you have, immediately.
I'm not even kidding, go buy Monero or Ethereum or something. I think this bitcoin thing is not healthy for you.
1601.
Post 13955932 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
And why beholdest thou the mote that is in thy brother's eye, but considerest not the beam that is in thine own eye, hmm?
Heh, Blinderer,
LOL
1602.
Post 13955961 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You gotta trust somebody
Right. with bitcoin I need to trust the integrity of the blockchain, that the record has not been tampered with. I can verify this myself, and I can cross-verify with several thousand other nodes across the network.
In a fiat transaction I need to trust the government and central bank, which do not have a great track record over the last hundred years. When was the last time the federal reserve was audited?
With Bitcoin you only have to trust the government and central bank of China. Chinese miners caved to core. You think they wouldn't cave to their own government?
I'm certain they would capitulate to their government. If they try to make a change or otherwise manipulate transactions their blocks will be rejected and we will fork.
Why can you not understand censorship resistance?
Maybe you can help me understand. So we fork, but we would have to fork away from SHA256 or they could just point to the new fork and doublespend again, right?
Forking seems to be a last resort thing, and there is no code or plan in place to make that kind of switch, to say nothing of no hashpower to secure the new fork, so it could take weeks or months and in the meantime, no Bitcoin. During that time, could not the Chinese easily discover our new hashing algorithm and swamp the hashpools with more doublespending?
So please, explain this censorship resistance. How is this not a vulnerability?
Censorship resistance comes from the fact that change cannot be forced upon the bitcoin network. Anyone who refuses to accept the new blocks will simply do so and continue on their merry way. You can only double-spend bitcoin that you control. The people that are actually using bitcoin will simply continue to use bitcoin. Any strange blocks or attempt to re-write the blockchain will simply be ignored.
The fork is not last resort, the fork will happen as soon as the first block is formed that does not conform with the consensus rules.
The network is secured by HASHPOWER! is this not obvious? Does someone have a warehouse full of SHA512 ASICs laying around to secure the new fork if our hashpower gets compromised?
Even if it is, we can write the code for this new fork in 10 minutes? Convince everyone to use it (because convincing people of the need to upgrade is so damn easy). I feel like the only sane guy in a loony bin!
or Inigo Montoya.
What is this term "censorship resistance?" I do not think it means what you think it means.
Yo, Dumbass, how much hashpower do you control? Zero? Ok then.
Shut up slave, you have no say in this. (Thank goodness)
Just sell all your coins and leave already. There, I've said it twice, I won't say it again.
(* how you like my version of whiny rage-quit? *)
1603.
Post 13956084 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
So your response is to call me a dumbass? That doesn't seem like a real answer. Do you have a logical answer to my concerns? Does anybody?
There is a difference between Bitcoin being uncensored and being censorship resistant. We are currently uncensored, but at the mercy of a government that will not allow banks in that country to even hold bitcoin accounts or allow their citizens to do anything with this currency except speculate on it. This is not exactly a huge selling point.
Yes, you're a dumbass. Bitcoin exists not at the mercy of some gov't, bitcoin exists
despite gov't or malicious actors.
Simple example for you: Alice wants to send money to Bob, but China won't allow it. China owns 90 percent of hash power so China is able to delay the transaction for nine out of ten blocks, but eventually the transaction goes through and Bob gets paid. It took 90 minutes instead of 10 minutes but still 3 days faster than bank ( actually, China controls 100% of bank, so... Yeah, that's censorship resistance.)
1604.
Post 13956225 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
So your response is to call me a dumbass? That doesn't seem like a real answer. Do you have a logical answer to my concerns? Does anybody?
There is a difference between Bitcoin being uncensored and being censorship resistant. We are currently uncensored, but at the mercy of a government that will not allow banks in that country to even hold bitcoin accounts or allow their citizens to do anything with this currency except speculate on it. This is not exactly a huge selling point.
Yes, you're a dumbass. Bitcoin exists not at the mercy of some gov't, bitcoin exists
despite gov't or malicious actors.
Simple example for you: Alice wants to send money to Bob, but China won't allow it. China owns 90 percent of hash power so China is able to delay the transaction for nine out of ten blocks, but eventually the transaction goes through and Bob gets paid. It took 90 minutes instead of 10 minutes but still 3 days faster than bank ( actually, China controls 100% of bank, so... Yeah, that's censorship resistance.)
I see that, but that's not my concern. Someone with >50% hashpower can double spend. or tripple spend, or senf the same BTC to 12 different exchanges and sell it, crashing the price to pennies while still mining NEW bitcoins which they spend twelve times keeping the price there.
You can only double-spend your own coins (second time I told you this) exchanges typically require ass'y least 3 confirmations, which means at 50% you'd essentially need to win 4 coin flips in a row (3 to trick the exchange and the 4th to double-spend the coins) - which means you would only succeed in this attack 6.25 % of the time. Also, if this type of attack became common, exchanges would start to simply wait for 4,5,6 transactions or more...We can always pick a point in the past where there is concensus that a double spend hasn't happened yet and freeze the blockchain there until we fix the double spending problem. I agree with that. What I don't think you are considering is that the fix may take months to get everyone to agree on the same fix and implement it IF it can be done at all. In the mean time, your "store of value" plummets to the purchasing power of bellybutton lint.
We would need:
Protocol change
hardware
code
agreement
You could be right. I may be a dumbass. If I am, someone please tell me why.
You know what? You might be slow to pick this up, but you're not nearly as ignorant or rude as BJA. I think Marcus was right. I'm sorry I called you a dumbass, but that's what you get when you buy a dumbasses account. hope you didn't pay too much.
1605.
Post 13956293 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
billyjoeallen is high on fiat. ( oh wait he shorted not sold
)
I'm pretty sure BJA must have gotten cleaned out on that short and sold his account to recoup the loss.
He and I have been extremely rude to each other in the past, not just me actually, here's a sample of the old bja,
- Do I have to fucking spell it out? I'll try to use small words so you morons can understand.
- What is most unpleasant to deal with is stupid people who don't know they're stupid.
- It wasn't an accident that I got in in 2011 and you didn't. I'm smarter than you.
That's actually three sentences from the same post! Compare with today:
"You could be right. I may be a dumbass. If I am, someone please tell me why."
When did bja ever admit to being wrong? Or ask to be corrected?
Just saying, pretty sure that's not the same guy.
1606.
Post 13956368 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
I like the way Adam Back runs the miners meeting, then avoids his name appearing in the press releases.
Makes me think he has an agenda. You know, that open secret to ensure Blockstream road map gets fully implemented into Core.
Adam was into bitcoin before there even was a bitcoin... Maybe he's jealous that he missed out on the early days of something that was built on his invention of hash cash, but he sounds like a pretty reasonable guy...
https://soundcloud.com/bitcoinuncensored/adam-back-interview-bitcoin-uncensored-at-miami-bitcoin-hackathon-012316
1607.
Post 13956435 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You can only double-spend your own coins (second time I told you this) exchanges typically require ass'y least 3 confirmations, which means at 50% you'd essentially need to win 4 coin flips in a row (3 to trick the exchange and the 4th to double-spend the coins) - which means you would only succeed in this attack 6.25 % of the time. Also, if this type of attack became common, exchanges would start to simply wait for 4,5,6 transactions or more...
Yeah, but China has ~75% hashpower, not 50%. winning three bets in a row with 75% odds is a 42% chance, a heluva lot higher than 6.25% and I'm pretty sure the miners who get nationalized keep a good size pile of coins that could be double spent. Even if they don't, The Chicoms could nationalize the Chinese exchanges too and then they have coins up the wazzu to dump.
freshly mined coins can't be spent right away. I get that. What I'm saying is that doesn't matter in a well-executed 51% attack, because you can also verify bogus transactions. If I was an evil Chinese Official, I could execute this attack with no more expertise than I now currently hold just by pointing guns at the right people.
Ok new bja, since you're so nice and polite:
First: you need to win 4 in a row to double spend if the exchange requires 3 confirmations, and even if you succeed once, the exchanges will just start to ask for more confirmations if they are becoming victims of attacks. (I've explained this twice now, it seems you're not even trying)
Second: I never mentioned freshly mined coins, everyone knows you need 120 confirmations to spend newly issued coins.
Third: you cannot "verify bogus transactions" - any honest node on the network will identify and reject a bogus transaction.
Are you a bot? Or just a noob?
1608.
Post 13956507 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
"not sure what you're trying to say quoting this 6month old post."
LOL - oops
1609.
Post 13956634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
You can only double-spend your own coins (second time I told you this) exchanges typically require ass'y least 3 confirmations, which means at 50% you'd essentially need to win 4 coin flips in a row (3 to trick the exchange and the 4th to double-spend the coins) - which means you would only succeed in this attack 6.25 % of the time. Also, if this type of attack became common, exchanges would start to simply wait for 4,5,6 transactions or more...
Yeah, but China has ~75% hashpower, not 50%. winning three bets in a row with 75% odds is a 42% chance, a heluva lot higher than 6.25% and I'm pretty sure the miners who get nationalized keep a good size pile of coins that could be double spent. Even if they don't, The Chicoms could nationalize the Chinese exchanges too and then they have coins up the wazzu to dump.
freshly mined coins can't be spent right away. I get that. What I'm saying is that doesn't matter in a well-executed 51% attack, because you can also verify bogus transactions. If I was an evil Chinese Official, I could execute this attack with no more expertise than I now currently hold just by pointing guns at the right people.
Ok new bja, since you're so nice and polite:
First: you need to win 4 in a row to double spend if the exchange requires 3 confirmations, and even if you succeed once, the exchanges will just start to ask for more confirmations if they are becoming victims of attacks. (I've explained this twice now, it seems you're not even trying)
Second: I never mentioned freshly mined coins, everyone knows you need 120 confirmations to spend newly issued coins.
Third: you cannot "verify bogus transactions" - any honest node on the network will identify and reject a bogus transaction.
Are you a bot? Or just a noob?
Go easy, Pal. I'm asking questions. So an exchange can change requirements AFTER an attack has already happened. How much damage can be done before then? Catastrophic damage. Like the Mt.Gox hack of 2011 that sent the price from $32 to $2 and stayed there for a year.
Also, there are MILLIONS of coins on Chinese exchanges that the Chicoms can gain the access to anytime they want. This may seem like a different issue, but a coordinated crackdown in China wouldn't leave the exchanges alone. Bitcoin activity in China presents a single point of failure and a security vulnerability. Surely you can see this. Are you suggesting that it WON'T happen or that it CAN'T happen?
1:
how much damage? I would expect no more than 20 or 30 grand, exchanges have limits, especially on untrusted/unverified accounts and
especially when you try to withdraw. Gox was only one incompetent exchange, and no one who was doing their own due diligence should have been affected. Everyone now should understand the risks of trusting your money to a thief party. (LOL, auto-correct gets it right this time
2:
from $32 to $2 and stayed there for a year. HA! Now I
know you're not bja ... "as low as possible for as long as possible" is my motto. Another 4 years below 500 would be fantastic.
3:
there are MILLIONS of coins on Chinese exchanges - really? Are you sure? There are only like 15 million coins total right now. Don't be fooled by volume when there is 0 fee trades available.
4: I understand that China currently holds a controlling interest in bitcoin. If they do anything crazy that would compromise bitcoin (like proposing an 8mb increase, and then doubling till 8GB) then we can worry, but as you can see with the current debate, it is not easy to co-opt bitcoin.
((Plus, I don't really care too much. My coins are old, they'll spend on both chains after the fork, whichever fork wins. Also, as I've said before: if you're worried about this shit you are simply not diversified enough. Many other projects and assets are doing very well for astute investors and speculators.))
It's been a real pleasure, you're much nicer than the old bja. Welcome to the wall observer.
1610.
Post 13956725 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
good night bitcoin!
Good night Adam.
(Btw, it's never over)
1611.
Post 13957186 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
4: I understand that China currently holds a controlling interest in bitcoin. If they do anything crazy that would compromise bitcoin (like proposing an 8mb increase, and then doubling till 8GB) then we can worry, but as you can see with the current debate, it is not easy to co-opt bitcoin.
If China holds controlling interest, then China holds control. Bitcoin isn't a honey badger anymore. It's a panda bear.
We can disagree on blocksize or even the vision for Bitcoin's future, but nobody wants hashpower concentrated in one political jurisdiction. Hashpower secures Bitcoin. If the hashpower isn't secure, then neither is Bitcoin.
What's worse is that there is no way to fix this without massively increasing mining outside of China, which isn't economically viable without an electricity cost parity or advantage.
It is funny, how you fear the Chinese. BTW, Chinese are much more strongly defensive of their right to have paper money. They would never roll over and accept gov't controlled money accounts like they're doing in Europe. As if having the majority of hash power in the country that has the majority of the world population is somehow a problem. And yet the U.S.is actually the most repressive country on earth.
http://www.theguardian.com/technology/2016/feb/19/apple-fbi-encryption-battle-san-bernardino-shooting-syed-farook-iphoneWhat exactly is your agenda, new BJA?
1612.
Post 13957505 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
4: I understand that China currently holds a controlling interest in bitcoin. If they do anything crazy that would compromise bitcoin (like proposing an 8mb increase, and then doubling till 8GB) then we can worry, but as you can see with the current debate, it is not easy to co-opt bitcoin.
If China holds controlling interest, then China holds control. Bitcoin isn't a honey badger anymore. It's a panda bear.
We can disagree on blocksize or even the vision for Bitcoin's future, but nobody wants hashpower concentrated in one political jurisdiction. Hashpower secures Bitcoin. If the hashpower isn't secure, then neither is Bitcoin.
What's worse is that there is no way to fix this without massively increasing mining outside of China, which isn't economically viable without an electricity cost parity or advantage.
It is funny, how you fear the Chinese. BTW, Chinese are much more strongly defensive of their right to have paper money. They would never roll over and accept gov't controlled money accounts like they're doing in Europe. As if having the majority of hash power in the country that has the majority of the world population is somehow a problem. And yet the U.S.is actually the most repressive country on earth.
http://www.theguardian.com/technology/2016/feb/19/apple-fbi-encryption-battle-san-bernardino-shooting-syed-farook-iphoneWhat exactly is your agenda, new BJA?
The Chinese government is somewhat hostile towards Bitcoin and freedom in general.
In China, it is illegal to:
buy bitcoin or sell bitcoin with a bank account
trade goods and services for bitcoin
They have strong capital controls which we know Bitcoin can be used to evade.
They have a history of cracking down on freedom movements (Tiananmen Square massacre)
They have a history of nationalizing industries
They are in the midst of an economic downturn that could easily turn into a recession
They have economic and monetary policies that will be difficult to enforce if bitcoin achieves a substantially higher market cap.
Long story short, there's no way Bitcoin can grow without achieving more Government and PBoC hostility.
There's no way bitcoin can grow without more network congestion.
Taken together, it means Bitcoin is a suborbital vehicle and the moon is not reachable.
LOL, ok, now I see what's going on. Ok Mr Billie Joe agent. I've flat out accused you of buying your account 5 times tonight, and you have not denied it once, not even acknowledged that I said anything.
It's a little strange, seeing as how you (ahem, the original you) and I have had some rather rude disagreements in the past yet now you are exceptionally polite. Tonight however you have not said a single nasty thing to me, not once. Is that odd? Yeah, I'd say so.
Anyways I'll continue to play along,
In the state of New York, it is illegal to:
buy bitcoin or sell bitcoin with a bank account
without a bit-licensetrade goods and services for bitcoin
without a bit-licenseThey have strong capital controls which we know Bitcoin can be used to evade.
unless you try to be honest and play by the rules and co-operate with the authorities like Charlie ShremThey have a history of cracking down on freedom movements (
Occupy wall street)
They have a history of nationalizing industries like
banks? LOL http://money.cnn.com/news/specials/storysupplement/bankbailout/They are in the midst of an economic downturn that could easily turn into a recession
OH REALLY? http://www.shadowstats.com/alternate_data/unemployment-chartsThey have economic and monetary policies that will be difficult to enforce if bitcoin achieves a substantially higher market cap.
LOL,
Long story short, there's no way Bitcoin can grow without achieving more Government and PBoC hostility.
There's no way bitcoin can grow without more network congestion.
Taken together, it means Bitcoin is a suborbital vehicle and the moon is not reachable.
-----heh, you said moon. Dude you are so fucking transparent and measurably incompetent, if you don't get fired for this it's just another example of the incompetence in the establishment.Though I must say, you've been rather pleasant throughout this encounter and I wish you a good night.
1613.
Post 13957911 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Shmadz, BJA: to comment on double spend risks. You both seem to have missed some details.
Yeah, but China has ~75% hashpower, not 50%. winning three bets in a row with 75% odds is a 42% chance, a heluva lot higher than 6.25%
If you have 75% of the hashrate, your success rate with double-spends is 100%, since you are guaranteed to be building the longest chain. Sure, 25% of the blocks will not be built by you, but you have the power to discard those from the blockchain. I'd guess a double-spend in this kind of scenario would probably be best achieved by willingly orphaning the blocks containing the tx you want to re-spend. So the situation, if you assume Chinese miners are all in collusion, is actually worse than BJA is saying.
OTOH, honest miners aren't the only protection against double spends. simple race attacks can be detected by any sufficiently connected node. That won't help against dishonest miners, but the kind of attack a majority miner could pull off seems pretty problematic in terms of financial gains. The attack would be detected too quickly for the miner to exchange their BTC for other assets and take delivery of said assets, so any profits would be counted in BTC. And what do yout think happens to the BTC price if a majority miner goes rogue?
Ahhh, thank you, so nice to talk to a real account (I hope).
Yes, of course, you're totally bang on with your assessment. If there were a serious attack like this I suspect there might be a fork, maybe... Let's say China double spends, um I guess on bitstamp? So now bitstamp is on the short end and presumably they lost money.
Wouldn't be the first time. Probably not the last. But, you could argue that we should roll back and start you mine the original chain (this is similar to the fork in 2013 except the btcguild won't be able to switch back and regain consensus on the longest chain.)
It would be contentious, but if the offending double spend was egregious enough it could be deemed invalid and all clients that agree that it's invalid would continue creating new blocks from that point on. (Very similar to how a proposed hard fork might turn out, if it does not have sufficient consensus)
Anyhow, any shenanigans or wrong doing on the blockchain would likely such a negative effect on the value of the blockchain tokens as to make such an attack unprofitable and undesirable.
If you want to perform such an attack regardless of cost, and with unlimited budget, I believe it has already been proven that the Byzantine general's problem is unsolvable, (lacking sufficient incentives)
It's likely that the incentive structure is the only thing that truly protects the blockchain.
1614.
Post 13957982 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Shmadz, BJA: to comment on double spend risks. You both seem to have missed some details.
Yeah, but China has ~75% hashpower, not 50%. winning three bets in a row with 75% odds is a 42% chance, a heluva lot higher than 6.25%
If you have 75% of the hashrate, your success rate with double-spends is 100%, since you are guaranteed to be building the longest chain. Sure, 25% of the blocks will not be built by you, but you have the power to discard those from the blockchain. I'd guess a double-spend in this kind of scenario would probably be best achieved by willingly orphaning the blocks containing the tx you want to re-spend. So the situation, if you assume Chinese miners are all in collusion, is actually worse than BJA is saying.
OTOH, honest miners aren't the only protection against double spends. simple race attacks can be detected by any sufficiently connected node. That won't help against dishonest miners, but the kind of attack a majoroty miner could pull off seems pretty problematic in terms of financial gains. The attack would be detected too quickly for the miner to exchange their BTC for other assets and take delivery of said assets, so any profits would be counted in BTC. And what do yout think happens to the BTC price if a majority miner goes rogue?
Chinese miners are among the bitcoin businesses who have the most to fear from a 51% attack. All their income is denominated in BTC.
But if the chinese government turns hostile and starts telling them what to do it could turn ugly quick.
I am very curious if any of them have an official political minder from the party on their payroll. If so, then it could be very difficult to avoid taking part in an attack.
Hmmmm, there was a good interview with a guy who had been talking with Chinese miners, and mentioned that the Chinese miners are running into a diminishing returns problem where if they control too much of the market, when they add hash power they are competing against themselves.
David Johnston, it's in the first 15 minutes.
https://letstalkbitcoin.com/blog/post/the-crypto-show-with-dapps-david-johnston-and-the-breaking-live-fbi-siege-in-burns-oregon
1615.
Post 13958023 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Scmadz
Yeah, not even close.
Hey Billy, why don't you tell us about your job and where you live, if it won't take you too much time to search the back history of the account you bought?
1616.
Post 13958057 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Scmadz
Yeah, not even close.
Hey Billy, why don't you tell us about your job and where you live, if it won't take you too much time to search the back history of the account you bought?
You don't even know if you're a big blocker, or a small blocker, do you?
1617.
Post 13958233 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Shmadz, BJA: to comment on double spend risks. You both seem to have missed some details.
Yeah, but China has ~75% hashpower, not 50%. winning three bets in a row with 75% odds is a 42% chance, a heluva lot higher than 6.25%
If you have 75% of the hashrate, your success rate with double-spends is 100%, since you are guaranteed to be building the longest chain. Sure, 25% of the blocks will not be built by you, but you have the power to discard those from the blockchain. I'd guess a double-spend in this kind of scenario would probably be best achieved by willingly orphaning the blocks containing the tx you want to re-spend. So the situation, if you assume Chinese miners are all in collusion, is actually worse than BJA is saying.
OTOH, honest miners aren't the only protection against double spends. simple race attacks can be detected by any sufficiently connected node. That won't help against dishonest miners, but the kind of attack a majoroty miner could pull off seems pretty problematic in terms of financial gains. The attack would be detected too quickly for the miner to exchange their BTC for other assets and take delivery of said assets, so any profits would be counted in BTC. And what do yout think happens to the BTC price if a majority miner goes rogue?
Chinese miners are among the bitcoin businesses who have the most to fear from a 51% attack. All their income is denominated in BTC.
But if the chinese government turns hostile and starts telling them what to do it could turn ugly quick.
I am very curious if any of them have an official political minder from the party on their payroll. If so, then it could be very difficult to avoid taking part in an attack.
Hmmmm, there was a good interview with a guy who had been talking with Chinese miners, and mentioned that the Chinese miners are running into a diminishing returns problem where if they control too much of the market, when they add hash power they are competing against themselves.
David Johnston, it's in the first 15 minutes.
https://letstalkbitcoin.com/blog/post/the-crypto-show-with-dapps-david-johnston-and-the-breaking-live-fbi-siege-in-burns-oregonSure, but they can't form a cartel, 'cause then someone else will just whoop their asses. In this way Bitcoin is pure, although brutal.
yeah, I'm not so sure, they could sorta be a cartel, I guess, but the real problem is that if they are ever perceived as doing something wrong like a51% attack, the very asset they are mining will lose value. It's all about incentives, that's the only thing that works. And if you ask me if I trust USG vs heavily incentivized Chinese? I'd go with the Chinese, every time.
The more interesting part is the ongoing infiltration attack from Billy Joe Bullshit...
Hey Billy,
i usually don't respond to reficulous attacks
oh yeah? Since when?
You used to be one of the biggest badass swinging dicks in this thread. I guess that hubris is one thing they don't teach at shill school.
1618.
Post 13958258 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
China is leading this rally because they think this roundtable agreement means we have consensus. That is far from certain. I'm thinking the main sticking point with Core will be/is:
1. getting boxed into a time frame, even an extraordinarily accommodating one.
2. no pledge to stick with Core even if they renege.
Bigblockers seem to all be smart enough to know that this is Core's deal to blow. We'll take the deal. But if Core Doesn't take it too even though they basically won, then we go to war and it will be Core against the world. Everyone will know who the bad guys are. Smallblockers will lose.
I kinda hope they don't take it. This was a last ditch effort on the part of miners to keep Core in the loop for the sake of market stability. I care less about market stability than an end to the Divine Right of Kings.
You got nowhere to go, Smallblockers. Take the deal or we will bury you.
All right, that's more like it. Welcome back asshole. How much do they pay you to hijack your account for the evening?
1619.
Post 13958439 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Indeed.
1620.
Post 13958502 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Bitcoin now crossing the boundary into the fabled Gox Resistance Field (GRF).
3rd attempt at penetration.
Thank you toknormal, I kinda missed that during my paranoid delusion.
I don't know for sure if the gox timelines match, but it looks like it could be one hell of a cup and handle forming...
1621.
Post 13958531 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
China is leading this rally because they think this roundtable agreement means we have consensus. That is far from certain. I'm thinking the main sticking point with Core will be/is:
1. getting boxed into a time frame, even an extraordinarily accommodating one.
2. no pledge to stick with Core even if they renege.
Bigblockers seem to all be smart enough to know that this is Core's deal to blow. We'll take the deal. But if Core Doesn't take it too even though they basically won, then we go to war and it will be Core against the world. Everyone will know who the bad guys are. Smallblockers will lose.
I kinda hope they don't take it. This was a last ditch effort on the part of miners to keep Core in the loop for the sake of market stability. I care less about market stability than an end to the Divine Right of Kings.
You got nowhere to go, Smallblockers. Take the deal or we will bury you.
All right, that's more like it. Welcome back asshole. How much do they pay you to hijack your account for the evening?
You crack me up, schmadzi. 1MB4EVA is dead. Killed by Adam Back of all people. What's the weather like down there under the bus? Now let's see how Maxwell and the other Prima Donna's like getting pushed around by the help.
Back was never the droid you were looking for.
The real antagonist will be Popescu.
Good luck in phase two of implementing your fail fork.
1622.
Post 13958761 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
Yes, of course, you're totally bang on with your assessment. If there were a serious attack like this I suspect there might be a fork, maybe...
-----
If you want to perform such an attack regardless of cost, and with unlimited budget, I believe it has already been proven that the Byzantine general's problem is unsolvable, (lacking sufficient incentives)
It's likely that the incentive structure is the only thing that truly protects the blockchain.
A fork, sure, but a fork to what? Short of changing the hashing algorithm, I don't see what's going to prevent a destructive miner from shitting all over the new fork, too.
So: double-spends for direct economic gain don't seem likely to be a huge problem. Miners disrupting the network for political reasons (or ransom, for that matter) seems like it could be an issue, but it's hard to estimate how likely such an attack would be.
I've thought about this, actually. Not as a malicious attack, but in the (far more likely) event of getting stuck on the wrong end of a hard fork. And yeah, it's a problem.
Best case you're waiting many hours, perhaps days per block, until a difficulty change. (This is it's probably unacceptable to the mainstream, but to the participants of MPEX and bitcoin-assets --well-- I wouldn't be surprised if they were willing to accept several weeks or months of extremely slow blocks until a difficulty change. I'm not an insider, but that's the feeling that I get when reading the logs.
But that's just the best case scenario, in the worst case you'd be suffering attacks from the overwhelming majority of hash power (I think mitigation for this would be hard-coded nodes, attaching only to other nodes within the web of trust.) They could potentially operate a viable network with at minimum the 6 or 7 nodes they already run.
Both scenarios are not desirable. I think the algorithm change is probably the most likely outcome. It provides protection from asic attack, and, let's be honest , there is a strong incentive to bring back cpu or at least gpu-friendly mining.
In any case, I think a fork is risky, more risky than most people realize, and I think that Mircea Popescu and his followers are a formidable and compelling group and should not be discounted.
Interesting times ahead.
1623.
Post 14000634 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.45h):
[Snip]
you see there is no such thing as bitcoin the original!!!
Yeah there is,
http://thebitcoin.foundation
1624.
Post 14105224 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Monero, ETH and Maid are not in a pump and dump phase, they are just growing to next level. Im like 20 days waiting for a retracement to enter but no way... I really want to hear your thoughts to this issue, from a BTC wall observer point of view, as pure eth/maid threads would be too biased and eco chambered to his own coins.
The big/small blockers debate is totally burnout and 2014-15, lets move, evolve, adapt and grow
Agreed. Anyone still worried about block size or "scaling bitcoin" is simply not diversified enough.
Any one of those projects could fail, nothing is certain, which is why you hear about eggs and baskets and all that.
1625.
Post 14106170 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Almost looks like bitcoin is about to lose it's first-mover advantage pretty soon
Often second-movers are able to overwhelm first-movers by taking the first-mover's product from a niche consumer market to a mass market. While firms may enjoy a first-mover advantage if they jump out to an early lead and hold onto it, the notion that winners are always the first to enter the market is a misconception.
Chinese specialize in second mover advantage btw. Let the first mover make do all the R&D, make all the early mistakes, then just copy it and make it cheaper and better.
Not sure if cheaper really fits here, and ETH and MAID bring innovation beyond just copying... But when you look at Monero, they have had the second mover advantage of seeing all the mistakes and potential pitfalls and have designed accordingly (fungibility, flexible block size, tail emission, forced hard fork scheduling, etc...)
1626.
Post 14111417 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
I am the angel of death
The time of purification is at hand Vitalik keeps getting thinner and thinner.
LOL!
Gotta say though, glad I gots me some ETH at the initial sale 2000 to 1 - just a token amount, wish I'd have taken a bigger flier on that, but somehow I remember expecting bitcoin to rebound at that time and just couldn't justify several grand on a flier.. 😕
1627.
Post 14111757 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
There is still too much uncertainty with scaling and governance.
If you dislike uncertainty, might I offer an alternative?
Certain scaling: "Monero doesn't suffer from this block size debate, because it has a dynamic block size limit."
Certain governance: "Basic bottom line: every 6 months there's a hard fork. You get 1 hard fork's grace before you have to update or be left behind."
Want to learn more?
https://getmonero.org/knowledge-base/about https://forum.getmonero.org/4/academic-and-technical/303/a-formal-approach-towards-better-hard-fork-management
1628.
Post 14172412 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Nerd rap is the new gangsta
I guess us old nerds are like OG's?
https://twitter.com/theshmadz
... Heh, 'theshmadz' auto-corrects to 'freshness'Yes I'm drunk, happy Friday everyone!
1629.
Post 14172500 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Ok party people. It seems this altcoin fever is never going to end. Hell, in hindsight I wouldn't buy a coin with Luke Jr. involved either. I guess Vitalik and FluffyPony are the future.
God help us all.
Altcoins too da mooon! Esp. BCY -.best most useful coin for buying imaginary digital made up shit that you can get for free just by beta testing the game...
Don't say I never gave you nuffin'
1630.
Post 14180755 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Don't mind me. I'm just pissed I missed the train. I bet there's rich folks eating in fancy dining cars. They're probably drinkin' coffee and smoking big cigars.
...
And that's what tortures me...
Many trains to come.
Some speed up, some slow down...
If you pay attention long enough you will begin to figure out which is which.
1631.
Post 14180772 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.47h):
Don't mind me. I'm just pissed I missed the train. I bet there's rich folks eating in fancy dining cars. They're probably drinkin' coffee and smoking big cigars.
...
And that's what tortures me...
Many trains to come.
Some speed up, some slow down...
If you pay attention long enough you will begin to figure out which is which.
sure but by then it's too late, you miss the train
If you're paying attention you can catch the next one.
** for example, if/when bitcoin dies, I expect there will be several coins competing to take that spot as the world reserve crypto - the one coin that everything else trades against. You don't even need to identify it specifically, you just need to recognize the 4 or 5 alternatives that might take the crown.
Back testing - go back a couple years to the eth crowd sale. Take 20% of your bitcoin total and divest it evenly into the top 4 contenders for dominance at that time. It doesn't matter if 3 out of those 4 fail, as long as you got at least some small amount into the one that survives. In this example it's ETH. 0.0005 at the opening, now worth ~0.035 ! That's like 70X return on that small side bet. Even if all your other bets fail, it just takes that one to pay off...
(If none of the alts survive, then that's good too. That means probably it was bitcoin that survived and your main holdings are still in bitcoin, you've just spent 20% hedging your bet.)
1632.
Post 14234065 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.48h):
When ETH drops BTC will rise probably
Or not.
Ethereum (ETH) $10.73 (
-20.74 %)
ETH move went into XCP, after that move today I'm surprised it's not being talked about more. Still remains to be seen if the momentum will carry.
Personally counterparty would be my choice. The founders of counterparty didn't raise millions of dollars to fund their project, they BURNT BTC!!! Quite extreme when we look back but they actually destroyed bitcoin that they themselves owned to create the new meta layer of counterparty.
Also, it's truly deflationary and Backed by the most secure blockchain that exists, instead of something that's going to be a POS coin...
1633.
Post 14398857 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.48h):
... I really didn't want to get into a little nationalistic sandbox dispute with a member of our number one trading partner, but you started it. First blood.
Anyway, I'm done with this nonsense. Goodnight.
... stop bragging about how smart you are for stealing from us because we have more guns than you and we're getting pretty fed up.
1634.
Post 14507078 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.48h):
Most alt coins dumped 30% yesterday, now poloniex is down,
Coincidence?
(Edit, back up for now, excuse me while I liquidate the remaining shit coins I don't even bother to have wallets for)
1635.
Post 14507314 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.48h):
Most alt coins dumped 30% yesterday, now poloniex is down,
Coincidence?
Well it could be coincidence due to the back-end maintenance also. But this would not fit your theory so well.
BTW: It is back up now.
Edit:
Good idea.
Thanks bud, when BTC alarm went off I checked and all the alt coins said "error" so I panicked....
I don't always panic, but when I do, I like to panic first.
1636.
Post 14533223 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.49h):
It has been a long time since I have posted. Coming back and seeing nothing but block size debate is frustrating.
What is everyone's take on this interview with Trace Mayer? He certainly has strong opinions but hearing his podcast interviews with some of the core devs has given me a different outlook on the issue.
https://www.youtube.com/watch?v=aV_5GonmRzUDude, nice video.
He's obviously trashed, just plastered. He probably had to do three lines of coke just to be able to sober up enough to do that video.
Party on, Trace!
Also, dash is a scam.
Edit° here's an interview with Garzik - I'm not a big block advocate, but a lot of what Garzik says makes sense.
https://m.soundcloud.com/bitcoinuncensored/jeff-garzhik-weighs-in-on-bloq-blocksize-and-bitcoin-governance-040516Enjoy.
1637.
Post 14613410 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.49h):
Six blocks in the last 22 minutes. that will keep the mempool reasonably empty until difficulty gets adjusted.
There must be a shitload of 14nm miners coming on line. I just wish they all weren't in China. The higher Bitcoin goes, the more tempting of a target it is for the PRC unless the same party apparatchiks are using Bitcoin themselves to skirt the capital controls.
You're still moaning about this shit?
If you are actually worried about China you should just sell all your bitcoin and quit whining already.
Sheesh.
1638.
Post 14645383 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.49h):
Enought nesting bullsheeteens.
We are going up with anemic volume. Just look at 1 day or 3 day timeframes. If volume doesn´t manifest quickly, lets say before seven days, Im calling this a bulltrap.
It's called miners stopped selling, so an 80 day supply crunch of increasing price occurs until the price reaches a level where someone considers it overextended for pre-halving state, which is not gonna be less than $500 by anyone's standards. It could just gradually rise to $600 on no volume before it occurs. Once people consider the price overextended, they will then dump with the intention of buying back lower, then the volume, volatility, and long drawn out game of people trying to short, squeeze, and lock others out and force them to rebuy happens.
Knowing that it's going to play out like this, it's going to be funny when the shorters pile in at some price like $600, then a coordinated squeeze hits them and the shorters power the next great Bitcoin bubble.
Now that's interesting, and correlates with a recent interview with that Chinese miner dude who was on the latest bitcoin uncensored podcast (his name eludes me, sadly)
The just of it was that they were able to get a very favorable contract from an electricity project that failed to get government approval to sell to the grid... As far as I could discern, they were only selling enough to pay the bills and keeping the rest, also some brokerage and arbitrage as opportunities arise.
Say what you like about the Chinese but there are some shrewd motherfuckers over there. Do not underestimate.
1639.
Post 14645975 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.49h):
nope.. not going to bite. the holding back of the scaling fix is borderline scheme imo... it makes bitcoin waaaaay to risky... i find it suspicious that just as the pms start to rise that bitcoin starts to rise as well... the reason pms are on the rise is due to the new Shanghai Gold Fix, which has nada to do with bitcoin.............i suspect that bitcoin is being manipulated up now to keep everyone out of the pms where the central banks and the federal reserves are currently locked in battle to keep pm prices down... so far they have been failing, and i suspect the failure will turn out YUGE in the end..... with these kinds of dynamics and fundamentals, i believe bitcoin is waaay overpriced and could turn into a long term scheme... holding back the scaling fix really seems like a huge scheme to me....
i told everyone to buy pms when silver was at $14.50... silver is now at $17.00 .
hot dropit lockit ..i passed on buying bitcoins. i bought metals instead while they are down.
you should diversify into metals. i'm not buying bitcoins at these inflated higher prices. it is too risky for me. even with the us govy behind it cuz the dollar is still on its deathbed. they are fronting like they are in control. its like the catastrophes, you have to cover your own ass. relying on bitcoin is probably not a great strategy imo. especially with the unresolved issues that bitcoin is facing. might be able to make some fiat though if buy bitcoins at this risky higher prices. i'm not sure the risk is worth it to gain more fiat through bitcoins when can get more fiat through other means and buy metals at suppressed cheap prices and HODL them. the reason to buy the metals is because the us govy doesnt want us to buy metals. keep your eyes on the money on the exchange!
spot silver prices in dec 2015:
http://www.apmex.com/spotprices/silver-pricesif silver goes to triple or quadrupal digits, it will make bitcoin pitiful as it dies from its manipulation and scaling failures. i have learned over the last few years to never trust the USA federal govy. if the USA federal govy is pumping bitcoin while manipulating pms down, then u want to be in pms. if the USA federal govy says don't take iodine as clouds of radioactive poisons float overhead, u better take the iodine.
Hey, I like silver too, I like to stack when prices are low just as much as the next guy, but you are talking crazy talk right about now... "quadrupal" digits? Really? For silver? Not in this decade...
Silver at the time was a great deal, but it's not like bitcoin was a complete dog either...
Price of silver on Dec 9 2015 = 14.1364
Price of silver on Apr 22 2016 = 16.96
Appreciation = 2.8236 or 19.97 %
Source =
http://www.usagold.com/reference/prices/silverhistory.phpPrice of bitcoin Dec 9 2015 = 411.90
Price of bitcoin Apr 22 2016 = 435.51
Appreciation = 23.61 or 5.73 %
Source =
http://www.investing.com/currencies/btc-usd-historical-data5.5% in 5.5 months is pretty good returns,
Tell you what, how about we wager which asset does better from now 'till next December? Price from Apr 22 to Dec 9 - using the same sources as above. Avatar bet: if I win, I choose your avatar pic for 6 months, if you win, you pick mine.
1640.
Post 14730833 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.49h):
Satoshi the model train conductor was a much better story.
1641.
Post 14983515 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Weird, I bought yesterday and price didn't go down?
First time for everything I guess?
1642.
Post 14994491 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Bitcoin has a real use case, many in fact.
Mostly drugs and crypto-locker and all that, but, it is what it is...
Just like the currency it replaces, cold hard cash, there is no substitute.
Ethereum is a proposed solution to a problem that doesn't exist.
Bitcoin IS the killer app!
1643.
Post 14994821 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
If I had more guts, I'd short at this point.
Should re trace to the point where previous resistance becomes support...
Should......
Edit- right Around 465 , but I would set my bids at 470
1644.
Post 14994865 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
You know , if liquidity actually dries up we could see a major move, just like old times . 10 X, 20 X, 100 X
but I doubt that - markets are too deep now - more mature - more options to short, - in theory it should even out the market . Gradual climb to 3200 would be nice though :-)
1645.
Post 14994896 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
You know , if liquidity actually dries up we could see a major move, just like old times . 10 X, 20 X, 100 X
but I doubt that - markets are too deep now - more mature - more options to short, - in theory it should even out the market . Gradual climb to 3200 would be nice though :-)
7.6B marketcap mature?
U aware that snapchat = 50B ?
x10 is possible imo.
Dude, when bitcoins was a dollar I never thought it would get to like five bucks, and then within a week it went to 32 .
couple years later we were at like 10 or 15 and I thought it would be crazy if we could get to like 50 and then we went to 250
couple months later was thousand
in my time I've learned to never underestimate the bitcoin
*Edit* also pleased to realize that bitcoins is not real money everything can go to zero immediately tomorrow, but both outcomes are possible. good luck out there
1646.
Post 14995005 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Where da friggin rocket pics at ?
Rocket and it's happening pics have officially been banned till we cross $1k
I agree with both the assertion that celebration should be postponed until over 1000
and also with your signature about decentralization , that thing which ensures the survival of bitcoin , should not be sacrificed in the pursuit of adoption'
fucking let them eat cake
1647.
Post 14995121 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
1648.
Post 14995160 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
BTW, the disappearance of the "trolls" precedes the occurrence of the pump, just in case you're wondering where they've gone?
Their job is done.
1649.
Post 14995208 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
BTW, the disappearance of the "trolls" precedes the occurrence of the pump, just in case you're wondering where they've gone?
Their job is done.
Good point. Where are they
I think it's obvious at this point. Their sole purpose is to keep the price down . That is their job. That is what they are paid for.
personally I am sad to see them leave .
" as low as possible, for as long as possible."
1650.
Post 14995265 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Massive wall at 3500 has all the looks of a big crash coming
I haven't been observing the walls very well lately, so your mileage may vary
*Edit* I think it might be starting to crack , probably just a retracement but watch out peeps
1651.
Post 15074971 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Just bought back in myself.
Just looking at how little BTC is even on the books to sell at the moment, on my current exchange, okcoin, and I'm feeling pretty bullish. Yeah buying at a 2 year ATH sounds really dumb, but this is bitcoin we are talking about, logic doesn't apply!
logic does indeed apply.
You mentioned how little bitcoins is available on current exchange..
once you consider how little bitcoins is available to be mined as new issuance moving forward, then the logic of accumulation at the current price makes perfect sense
in other news, can you guys please crash this thing already. As low as possible for as long as possible
1652.
Post 15075042 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.51h):
Just bought back in myself.
Just looking at how little BTC is even on the books to sell at the moment, on my current exchange, okcoin, and I'm feeling pretty bullish. Yeah buying at a 2 year ATH sounds really dumb, but this is bitcoin we are talking about, logic doesn't apply!
logic does indeed apply.
You mentioned how little bitcoins is available on current exchange..
once you consider how little bitcoins is available to be mined as new issuance moving forward, then the logic of accumulation at the current price makes perfect sense
in other news, can you guys please crash this thing already. As low as possible for as long as possible
Btw, for those that are new, almost 75% of all bitcoins that will ever exist have already been mined. Many of the very early coins were either lost or will likely never be spent. Sometime next month the rate of issuance will be cut in half, again. After that point there will only be 2.625 million issued over the next 4 years.
If things go badly in the world national fiat system, Fear of missing out will turn to panic. Or bitcoin could fail tomorrow and we discover that inescapable debt is really not a bad thing...
Interesting times ahead.
1653.
Post 15083473 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.52h):
Nice Crisis coming for the Halving, Good FUD to trade on
http://www.coindesk.com/crisis-halving-bitcoin-mining/“When the difficulty doesn’t change, but the hashing power shuts down immediately, there will be no next block. If, after the halving, the price does not go up, but the prices goes down, [there] will be heartache. It means no next block, no blockchain, all of the blockchain will be shut down immediately.”Nah, he is painting the worst case scenario. I think so long as miners are at no less than a break even, and there is signs of a slow but steady price rise, then most will hang in and see where it goes. I don't see suddenly 300 PH dropping the day of halving.
Sure some will turn off their miners and wait it out, but would be spotty and mostly small home miners more than likely. Now if BTC is around 400 ish or worse at halving then there could be a real "problem Houston" But given where we are today in price..... I don't see a hard fork and all the other gloom and doom.
BTC is still the anchor for Alts such as Eth and so on.... now that could flip at some point? Eth becomes the new anchor in crypto, but unlikely
If you are earning 0.01 bitcoin/day before half the network drops off, you can expect to continue to make 0.01 btc/day until the next difficulty adjustment. The amount of time it takes until that adjustment will be increased of course, but after that adjustment inevitably happens, you can expect to make considerably more.
1654.
Post 15169551 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.52h):
Holy guacamole, 618@finex and growing
edit: 622
LOL!
You maniacs!
I guess the accumulation window is closing quick...
1655.
Post 15173922 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.52h):
>750 <72hours
I hope not.
People will get rekt on this, way worse than last time. Or the time before that.
There are going to be people who watch this with disbelief, and then when it just keeps going they will finally decide to jump on board once the price reaches 10,000.
and then when it drops to like 2 or 3k, they will be gutted , they will lose all hope and belief. they will sell everything at the bottom .
(just like last time after the 2013 pump to 266 and then back down to 50.)
When the reality kicks in and it goes from 3k to 32k they will have already written this off as a scam, and they will blame you (me?) for their missed opportunity.
Friends don't tell friends about bitcoin.
1656.
Post 15174042 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.52h):
>750 <72hours
I hope not.
People will get rekt on this, way worse than last time. Or the time before that.
There are going to be people who watch this with disbelief, and then when it just keeps going they will finally decide to jump on board once the price reaches 10,000.
and then when it drops to like 2 or 3k, they will be gutted , they will lose all hope and belief. they will sell everything at the bottom .
(just like last time after the 2013 pump to 266 and then back down to 50.)
When the reality kicks in and it goes from 3k to 32k they will have already written this off as a scam, and they will blame you (me?) for their missed opportunity.
Friends don't tell friends about bitcoin.
There is a reason why only accredited investors are allowed to invest in certain opportunities. There is an expectation when they lose their shirt on a risky deal, they can recover from that loss.
When it's mom and pop going in on this shit, they will lose everything, ) and if the current socialist agenda prevails, it will be us who has to pick up the tab.
1657.
Post 15305135 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.53h):
How can we hope for mass adoption when we can't even depend on having reliable exchanges. My faith in BTC is rapidly waning.
Bitfinex isn't going to lead fuck all to mass adoption. Would grandma wait a week to wire some money to Hong Kong or wherever? Is she going to get heavily into leverage? Doubtful. It's a bridge from the old days to the new ones and it could do with crumbling.
Grandma will figure it out when her grandkids photos get crypto-lockered.
Ransomware: it's not the use case you wanted, but it's the one you're stuck with.
1658.
Post 15327640 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Any idea how much it costs to mine a coin these days, just before the Halvening?
Curious because I'd like to know what a realistic floor for the price would be based on how much it costs to actually mine a coin.
New equipment is coming out from bitmain
https://www.bitmaintech.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654Electricity cost based on that unit is only like 100 bucks per coin,
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=14000.00&p=1500.00&pc=0.10&pf=0.00&d=209453158595.38100000&r=25.00000000&er=674.90000000Realistically, I would put a guess around the 400 to 600 range after the halving, no reason to be over 800 max...
Personally, I'm quite happy to see some rationality this time around,
"As low as possible for as long as possible."
1659.
Post 15327928 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Thanks for the hook-up on the calculator and the new info on the AntMiner.
I like "as low as possible for as long as possible." When it got to $700 I felt some FOMO kicking in, but wisely didn't buy in then, or at all.
After playing around with the calculators, after the Halvening drops the reward to 12.5, it looks like one could be reasonably satisfied mining 0.5 BTC per month with one of those AntMiners. They're sold out, but w/e, this is all just speculation anyway.
If I was hooked up to a pool and paid a 4% fee, then after paying power costs I'd be looking at around 0.33 BTC per month in profit. That's about 4 BTC per year for one machine. With the cost of a machine ATM being 4.218 BTC, it looks like it'd take about 13 months to ROI into the black. But then that doesn't take into account what happens to the difficulty over time, so...hmm.
My approximation then is that for BTC to be even remotely profitable, my thinking is that BTC's price needs to be higher than $100. Much higher. Even 5x higher. Am I mistaken? Maybe I don't have enough insight.
you can't place any confidence in those long-term predictions. anything more than a couple months out is worse than speculation, that's just dreaming. if there is profit to be had, then the hash rate will increase up until the point where it wipes out those profits. also if you're consistently pulling 1500 W from a 15 amp 110 V plug you will burn out more than just your miner, you'll have sockets overheating and melting down, circuit breakers will be breaking, etc...
I guess the real point I'm trying to make is that
if there is profit to be made
then that profit margin will be filled by increased competition and your profits will disappear, eventually. if you can get your hands on that latest gear you might do okay for about six months but you better make enough during that time to pay off your expenditure PLUS enough profit to outlay the risk and your own time, not to mention the extreme heat and noise...
1660.
Post 15327981 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Also interesting how herr theymos' comments come on the day that "fully regulated" (eww) Circle Financial put people’s transactions in indeterminate limbo because of "spam-level" 40 sat/byte fees.
Especially interesting when miners already use blue blockstream matt’s relay network instead of compact blocks, making this whole "compact blocks allow segwit's 4MB attack surface" mantra utter BS.
Would it be wrong to say that the “totally unpredictable” collapse in BTC price started
the day Core Media stated that segwit would be coming
april july 7th
without the 2MB non-witness data HF for 2017 activation that was promised to miners at the HK meeting? Maybe... though I remember the same dastardly things being said (and made into charts) about Classic.
So you don't attribute any weight to the fact that bitcoin was trading at double the cost of production? It's all about blocksize debate?
1661.
Post 15352654 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
intersting that brexit could really happen against all that mainstream media etc.
this has a long-term influence on world econonmy, stability of eu and also gold/btc price.
True.
If this is the start of the unwashed masses waking up, not automatically trusting media and pollies thinking for themselves, then this is a watershed moment in history. And starting in the UK; who woulda thunk?
It's important to remember that this vote is not binding, it's basically nothing more than guidance.
Great Britain is still a member of the EU and the process of actually leaving will involve much bureaucracy.
Nothing has changed yet, and if I were to don my tinfoil hat, I would expect that many people who have a vested interest in supporting the EU would conspire to use this excuse to greatly harm both the exchange rate of the pound and also cause havok in global markets to sow the seed of doubt. The margin was extremely thin and I would expect they will first impose as much hardship as possible and then call for a re-vote.
I think this is far from over. </tinfoil>
1662.
Post 15353177 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
It's important to remember that this vote is not binding, it's basically nothing more than guidance.
Great Britain is still a member of the EU and the process of actually leaving will involve much bureaucracy.
Nothing has changed yet, and if I were to don my tinfoil hat, I would expect that many people who have a vested interest in supporting the EU would conspire to use this excuse to greatly harm both the exchange rate of the pound and also cause havok in global markets to sow the seed of doubt. The margin was extremely thin and I would expect they will first impose as much hardship as possible and then call for a re-vote.
I think this is far from over. </tinfoil>
I thought the powers that be were meant to rig the election? Did they fall into a drunk stupor and forget their duty? The fact is, there is little stomach for averting this course, and little chance of closing the fissure.
That fissure was less than a 4 % margin. Their currency dropped by 10 % in the first day. How much stomach will they have if it drops another ten percent?
I don't know what's going to happen, but I would be surprised if *they* let Britain leave without a fight.
(Edit for clarity: *they* are anyone that benefits from a centralized control of Europe and a desire to extend that control through greater globalization to eventually encapsulate the world)
1663.
Post 15353262 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Every day that passes that bitcoin continues to exist lends proof to the concept that decentralized money is possible.
The control of money is the most direct form of control of people.
1664.
Post 15356930 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Every day that passes that bitcoin continues to exist lends proof to the concept that decentralized money is possible.
The control of money is the most direct form of control of people.
The Reddit is on about this new consortium of Chinese miners. In theory, if they collectively decided to blacklist transactions, how possible would it be to mine them yourself?
Edit: or better still, if the transaction was so odious that the entire BTC community, top to bottom, refused to mine them.
I guess a solo miner couldn't mine a block, so some pool would have to agree to not censor it. Isn't it?
No, it is not feasible to solo mine a block. It's
possible, but you'd have no way of knowing when, if ever, that block would happen.
The theory is that markets would take care of this problem. A certain subset of pools would agree to mine these "odious" transactions, for a substantially higher fee. As the block reward continues to drop, these pools would be creating far more profit than pools that don't accept these high fee transition, which would lure more miners to switch pools, which is a further dis-incentive to blacklist these highly profitable transactions.
That is all just hypothetical of course, and there is work being done to improve censorship resistance:
https://petertodd.org/2016/closed-seal-sets-and-truth-lists-for-privacy"Our goal here is to combat censorship by ensuring that miners do not have the information needed to selectively censor (blacklist) transactions"
1665.
Post 15358507 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
That fissure was less than a 4 % margin. Their currency dropped by 10 % in the first day. How much stomach will they have if it drops another ten percent?
I don't know what's going to happen, but I would be surprised if *they* let Britain leave without a fight.
The only
they trying to stop Britain leaving without a fight are the
naive.
Britain isn't going to keep rerunning the referendum like some banana republic, and there is no political will in the establishment of this country to undo this. Most of the ruling Conservatives are Eurosceptics for a start, and to engage in some civil war with the working classes would do a lot more harm to this country than whatever the markets can inflict.
I would like for you to be right, but those naive social justice warriors are merely the tool that *they* use to push *their* agenda. *They* have no concern for the harm that comes from this. In fact, civil war would just be step one in the classic playbook, getting the ball rolling towards another world war.
It's not like this hasn't been done before.
"But, rest assured, this will be the sixth time we have destroyed it, and we have become exceedingly efficient at it."
1666.
Post 15449361 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.54h):
Why anyone holding a non-monetary asset, for no other reason than they think it will hold its value, is NOT a speculator?
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.
Of course. But there is more than that. Anyone who holds a pure monetary asset, for no other reason than they think it will hold its value, is NOT a speculator!
People that hold for that purpose non-monetary value are creating asset bubbles which distort price signals in economy. That is why they ARE speculators. People that hold pure monetary value make those asset bubbles burst thus help economy correct and heal itself. That is why they are NOT speculators. They are savers!
Technically anyone who makes a decision based on what they think might happen in the future is a speculator.
You still have the best avatar on this forum though.
1667.
Post 15812130 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.56h):
Pretty sweet crash, but needs more cowbell.
Polo hack/cut-and-run would help,
Still waiting...
"As low as possible for as long as possible."
1668.
Post 15873146 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.57h):
BFX coin to the moooon!
Glad to see you're still around, I thought maybe at some point you'd get cleaned out but it seems you're doing fine, kudos!
This whole bitfinex thing is the main reason I've been advocating "as low as possible for as long as possible" just imagine the political fallout from this kind of "hack" if the price had been 10 or 100X where we are today.
Best case scenario for the long term, in my opinion, is if we can remain below ten billion market cap for as long as possible while the kinks get worked out.
This shit might be game changing, but it's nowhere near prime time.
1669.
Post 15873304 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.57h):
BFX coin to the moooon!
Glad to see you're still around, I thought maybe at some point you'd get cleaned out but it seems you're doing fine, kudos!
This whole bitfinex thing is the main reason I've been advocating "as low as possible for as long as possible" just imagine the political fallout from this kind of "hack" if the price had been 10 or 100X where we are today.
Best case scenario for the long term, in my opinion, is if we can remain below ten billion market cap for as long as possible while the kinks get worked out.
This shit might be game changing, but it's nowhere near prime time.
Some egghead is gonna crack this thing eventually. Who wants to become a systemic risk? Spread it out like butter on a burn. That's what I say.
EGG-xactly!
Your crypto money is only as secure as whatever the current state of the art cryptography is capable of.
How can elliptic curve possibly be as secure as shipping paper bills on pallets? Transparency be damned!
http://www.wsj.com/articles/u-s-sent-cash-to-iran-as-americans-were-freed-1470181874If you get blocked by the shitty wall street journal, just Google the following "U.S. Sent Cash to Iran as Americans Were Freed" -no body bothers to do their own work any more , the media has become the best echo chamber ever!
1670.
Post 15873348 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.57h):
bitcoin can't break
and if it does we'll fix it.
lol cash on pallets.
You know what Adam, I kinda agree. Not that bitcoin can't break, but that we'll fix it as it happens.
This is my own personal separation of off what bitcoin means vs what "blockchain" means.
Blockchain is the means to an end, but bitcoin is the idea of freedom of association and transfer of value that once envisioned, cannot be overcome.
1671.
Post 15925150 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.57h):
I can know much as you do, with my eyes looking at graph and thinking logically. (and reading facts on internet)
Right now you see shitload of FUD everywhere, fake news about bitcoin "dying slow death", new fake profiles, and bitfinex trash situation. Don't you just sense fear and uncertainty?
More facts:
- Trading bots love low price, they will buy fuck out of it once the long trends reverses
- First halving price&after
You see, bitcoin never touched that price again.
And right now, bitcoin price is lower than it was pre/post 2nd halving. And this is just because of bitfinex situation.
- Bitcoin is still developing tech.
It's good time to buy if you ask me. If you are not sure, wait 3-4 days.
Even though, overall, we seem to agree about a lot of things, you still seem to be speaking in riddles.
< accuses poster of speaking in riddlesv speaks riddles for next three paragraphs vSure it is true that there is a lot of FUD spreading all over the interwebs, and maybe the fact that you are asserting that to be a factor, you are giving a certain amount of weight to the current status of that phenomenon. I will concede that what people read, think and say contributes to whether they buy, HODL or sell, but still the underlying facts also remain important, including the fact that bitcoin prices recently went above $500, contrary to the desires of bearwhales and banker shills - and surely, they want to attempt to get the price back down, to the extent that they are able to accomplish such objectives.
I am not attempting to predict the price in either direction, except perhaps to suggest that there are pressures in both directions and to assert that ongoing mediocre volume can allow for quick and unexpected manipulation in either direction.. so in that sense, I fail to comprehend exactly how you could have strong feelings that price is going to be going down before we go up?
I mean, you did not even seem to qualify your prediction very much, which probably is what caused me to respond to you in order to suggest that the language of your post seems much stronger than anyone's ability to predict - except perhaps some whale who has insider connections regarding either a pump or dump that is going to take place in the near future.
Just had to capture this for posterity. (Blue parts are mine)
1672.
Post 16031773 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_14.57h):
*Edit2: Just give the man a Lambie/Jessus coin... people would get in to them just for the lulz...
You could have a
shmadz coin :-/ but there can be only one :p
1673.
Post 17360122 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.00h):
Happy New year everyone!
Even Mike Maloney is on board!
https://youtu.be/RLnZnmLJWjA?t=22m59s
<you really need to watch this! He actually seems to understand that bitcoin= good blockchain= bad
Ah forget it, Fuck you guys, happy New year to you big brother
1674.
Post 17366747 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.00h):
Happy 2017 to everyone, I think the next step is the 1050$ if it breaks i don't have any idea what would be the next stop of this rally, maybe some old bitcoiners have an idea
?
No one can know for certain, but if the price holds above 1K for at least a month, I get the feeling that the blow-off top will be over 10K .
1675.
Post 19484521 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.12h):
What's up everyone? You guys still observing walls around here?
165 btc buy wall on Quadrigacx right now!
https://twitter.com/theshmadz/status/873688936912109568 (please excuse the shameless plug, but it's easier to post pictures on twitter)
Does anyone know how to figure out what that would do to the price if he got tired of waiting and did a market buy?
1676.
Post 23780588 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.24h):
The slower it goes up right now, the more bullish it will be later.
Exactly, even if we drop to $5k now it's still bullish as fuck because we're establishing support for extra fuel on the next rise
It's almost as if we're just building another rocket platform...
Side note: Anyone else remember when a 10K walls were normal?
https://twitter.com/francispouliot_/status/924739943842435072
1677.
Post 24107908 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.25h):
So, Tone called the top, sorta...
https://youtu.be/E4hLB33xtzABelieve the hype?
1678.
Post 26113983 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
let's see if we can trip that circuit breaker on the first day, why don't we?
lol, sorry, fixed the huge image, it's been a while...
1679.
Post 26114406 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
let's see if we can trip that circuit breaker on the first day, why don't we?
I am not sure if that would be a good thing or not. It could be interpreted as a bullish signal if it trips it on a pump on the first day.... or it could be considered as "too much volatility" to be taken seriously. It will happen soon anyways, maybe just not today.
Btw, is a 20% on the gemini price what is considered or the price of the futures themselves? I mean.... if the futures are for january'18 a flash pump/dump shouldn't affect it that much. A much smaller constant growth/decline over a few days on the other hand.....
Hey, anyone is playing with that CBOE thing? I started registering, but got bored at second form with all that profiling questions. I laughed on the fact that 100+ trades A YEAR is the higher option on the question about expected activity.
...these people have no idea what they are getting into, do they?
it seems he knows exactly what he's getting into. he's not happy about it, but if you read between the lines, it looks like some of his "larger" clients demand the ability to trade this, and they are not upset about being limited to long orders only...
*edit* - Keep in mind, there is no limit on the supply of fiat. There is a very limited amount of bitcoin available...
1680.
Post 26114824 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
This is the second time I've heard him say that "long term bitcoin will be zero". I can't even process how he came to that conclusion, since Bitcoin has seemingly been non-zero (and climbing) for 8 years now WITHOUT a futures market.
I didn't watch it. I can't. I'd cringe too much. But even totally broken beyond repair, it would never go to zero. It's nearly impossible to imagine such a world. How does he do it?
you should watch, it's only 5 minutes and he's the CEO of one of the most successful trading sites in the world.
he's convinced this is going to zero for the same reason all of us were certain this was a scam.. at first..
I heard about bitcoin when it had no price, pretty much. There was no exchange, the only thing I could find was some bulletin board where people were trying to make trades. Then MT GOX entered the picture and we got a pretty quick glimpse into price discovery (price went from like a dollar to over 30 bucks in a couple weeks, and then they got "hacked" and the rest is history)
anyways, my point is, everyone thinks bitcoin is a scam the first time they hear about it. it isn't until you really spend some time to look into it that you realize what it really is...
This guy is running a very big, very successful business. He doesn't have the time to look at this in depth (to his own detriment)
Anyways, I think it's helpful to at least hear the views of the naysayers, especially when they are the CEO of one of the larger trading platforms on the planet.
1681.
Post 26115265 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
Is it going to hit the circuit breaker on the first day?
Meh, it's only halfway there and it's already been... what? like 3.5 hours? what could possibly go wrong?
1682.
Post 26115459 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
If it triggers the 20% price either up or down, do the winners automatically win and the losers automatically lose? Right then and there?
no. the trading on the exchange just stops, see here for details:
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures/contract-specifications
1683.
Post 26115607 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
HAH! I tried to give away bitcoin back in Christmas 2013. I offered their choice, 0.1 bitcoin, 2 ounce silver (canadian mint wildlife series) or 50 bucks CAD. (*gifts of Christmas past, present, and future*)
no one took the bitcoin, no one took the silver, everyone took the cash.
you can lead a horse to water, but you can't make him drink
(*btw - this article smells of native advertising *)
1684.
Post 26115794 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
Wow. Is this the acceptance phase already!?
Nah a rogue scribe who snuck a fast one on the boss somehow. Won't last.
my bet is a native ad. Coinbase paid CNBC to place that story.
1685.
Post 26115985 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
Ok, so I guess the 20% is the maximum exposure then? If starting price is $10,000 and you bet it to go up, you really can't profit if it goes higher than $12,000?
Similarly, if you bet it to go down, you can't profit even it it drops under $8,000?
So no incentive to keep pumping it up if it's at $12,000 but it really needs to be at that price at the close of trading if you bet it for 24 hours, and seems like the price opens at 6pm Eastern and closes at 4pm Eastern the following day?
it's still uncertain how this will play out. but the bets are for one month approximately and now you can see why the CEO of international brokers is hesitant to allow trading of this derivative vehicle.
1686.
Post 26116086 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
HAH! I tried to give away bitcoin back in Christmas 2013. I offered their choice, 0.1 bitcoin, 2 ounce silver (canadian mint wildlife series) or 50 bucks CAD. (*gifts of Christmas past, present, and future*)
no one took the bitcoin, no one took the silver, everyone took the cash.
you can lead a horse to water, but you can't make him drink
Haha, yeah no doubt. The horses don't even know what silver is worth...
https://www.youtube.com/watch?v=6gmp2IqReFQthis accentuates the problem with gold and silver. if some guy on the street tries to sell me silver I want it to be assayed. even gold bars direct from the Canadian mint are now found to be counterfeit... At least with bitcoin you can be assured of the quality and quantity of the trade.
http://www.cbc.ca/news/canada/ottawa/fake-gold-wafer-rbc-canadian-mint-1.4368801
1687.
Post 26116225 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
Ok, so I guess the 20% is the maximum exposure then? If starting price is $10,000 and you bet it to go up, you really can't profit if it goes higher than $12,000?
Similarly, if you bet it to go down, you can't profit even it it drops under $8,000?
So no incentive to keep pumping it up if it's at $12,000 but it really needs to be at that price at the close of trading if you bet it for 24 hours, and seems like the price opens at 6pm Eastern and closes at 4pm Eastern the following day?
it's still uncertain how this will play out. but the bets are for one month approximately and now you can see why the CEO of international brokers is hesitant to allow trading of this derivative vehicle.
On CME there is daily settlement so you will just be instarekt when trading opens the next morning and you get margin called. At least the margin requirement exceeds the daily limit.
On CBOE I don’t think there’s daily settlement so the shorts are massively exposed. You would want to be fully hedged or be a miner. There is no way 30% margin is adequate for a short over a month period. That’s a joke. CBOE is far more a dangerous product but the risk is mostly borne by CBOE.
I think this is why the international brokers dude will not allow shorts. at least on the long side your risk has some limit. if the price goes down it can only go down so far... if you watch the video he explicitly states the risk to his firm if the price goes up. There is no limit to the upside risk. There is no limit to fiat money.
1688.
Post 26116314 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
And Thar She Blows!!!!!!!!
1689.
Post 26116621 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
<snip>
But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?
yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.
I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?
1690.
Post 26116795 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
NICE! they are just halting trading momentarily as the price hits certain limits...
still not sure what they're gonna do over the weekend, but for now it seems like it's "game on!"
1691.
Post 26117011 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
<snip>
But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?
yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.
I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?
It is said they are going to use arbitrage. They will buy and sell from a real exchange and send it to futures.
This video gives some explanation:
https://www.youtube.com/watch?v=vGnH-Od1lJMOK, first of all, don't listen to those two guys in the video. they have no clue, you will get REKT
Second, how are you going to "send it to futures" when the futures don't trade over the weekend?
Third, oh, nevermind, you are going to be REKT no matter what I say.
Best of luck trading
*edit* I immediately feel sorry for posting this. I would delete it but that would be cowardly and dishonest. I'm sorry for the hurtful words. I sincerely wish you all the best.
1692.
Post 26117258 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
This thing is totally unhinged from the underlying asset. Is that how Wall St. do?
Seems like... Maybe it'll level out in time?
I would like to see a futures market that enforced delivery. that would actually have some use for miners and others that are trying to hedge risk.
This seems like a pure derivative market adding risk instead of mitigating it...
I suppose time will tell.750
*edit* looks like futures are over 18000 while bitstamp is still around 15750 - not sure which one will follow the other at this point?
1693.
Post 26117425 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
This thing is totally unhinged from the underlying asset. Is that how Wall St. do?
Seems like... Maybe it'll level out in time?
I would like to see a futures market that enforced delivery. that would actually have some use for miners and others that are trying to hedge risk.
This seems like a pure derivative market adding risk instead of mitigating it...
I suppose time will tell.
They are not used to "delivery". Who in their right senses would want a fucking BUNCH of soya being delivered to them? What about logistics?
Even gold is cumbersome enough.
They are not used to an asset as easily deliverable as Bitcoin is.
Typically the brokerage that facilitates the trade will settle prior to the delivery date.
http://futures.tradingcharts.com/tafm/tafm10.htmlThe whole point of futures was supposed to be delivery of a certain commodity at a certain date for a certain price.
Of course, as with everything else, the point has been lost over time...
1694.
Post 26117659 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
Yeah, but getting into the logistics of delivery of assorted assets would be too complex for the exchange. So now, imagine you are a big soya distributor so you really need the soya for your business. You can still use the future markets to hedge/fix a price in advance. If soya prices are higher when you need to buy it, you get the profit of the future contracts you have at a lower price and use the extra profit to buy the soya.
Basically it works the same.
I'll quote the link that you may have declined to read or simply misunderstood.
You may wonder what happens if a trader forgets to close out a long position. If he bought live hog futures, will someone deliver 40,000 pounds worth of squealing porkers to his back door the morning after his contract expires?
Sorry, but no.
Brokerage firms watch their open accounts and know who has long or short positions in contracts nearing maturity. Prior to delivery day, they inform customers who have open long positions that they must either close out the position or prepare to take delivery and pay the full value of the underlying contract. By the same token traders with short positions are informed that they must close out their trades or prepare to deliver the underlying commodity. In this case, they must have the required quantity and quality of the deliverable commodity on hand.
On the few occasions that a buyer accepts delivery against his futures contract, he is usually not given the underlying commodity itself (except in the case of financials), but rather a receipt entitling him to fetch the hogs, wheat, or corn from warehouses or distribution points.
Food processors or manufacturers who use futures to hedge rarely take delivery because the deliverable grade on the contract may not be exactly what they need. Hence, they will close out their futures position before delivery and buy in the cash market instead.
Sometimes merchants and dealers accept delivery because they can find buyers for many grades and types of the underlying commodity.
hope that clears things up.
1695.
Post 26118162 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
anyways, my point is, everyone thinks bitcoin is a scam the first time they hear about it. it isn't until you really spend some time to look into it that you realize what it really is...
I think my first response was awe and curiosity, not suspicion. And I don't know how it was for others, but that first week was like I just got unhooked from the Matrix.
yep same here
OK, OK, you old-timers... maybe it's just me, but I figured it was too good to be true and it took me a long while before I finally figured it out.
1696.
Post 26118661 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
I think the model is broken. And it is going to drive the price of bitcoin sky high.
The reason is the only way retail and institutional investors can get exposure to Bitcoin is through futures. So futures are being used as a substitute for an ETF. Which is going to blow the price of futures sky high as people FOMO.
Which means a roaring arbitrage trade will develop with the exchanges. But the cost of funds of being a shorter will spiral out of control due to constant margin calls on the shorts who will have to pour in more fiat. Which will restrict supply, driving the cost higher. So we should expect an ever increasing divergence between the future price and the exchange price.
Every long trade needs a short counterparty. I agree this will incentivize arbitrage, but as long as the available price of the underlying is less than the price of the active futures, then there should be someone willing and able to fill that gap.
I think?
1697.
Post 26118889 (copy this link) (by shmadz) (scraped on 2020-04-04_Sat_15.32h):
I think the model is broken. And it is going to drive the price of bitcoin sky high.
The reason is the only way retail and institutional investors can get exposure to Bitcoin is through futures. So futures are being used as a substitute for an ETF. Which is going to blow the price of futures sky high as people FOMO.
Which means a roaring arbitrage trade will develop with the exchanges. But the cost of funds of being a shorter will spiral out of control due to constant margin calls on the shorts who will have to pour in more fiat. Which will restrict supply, driving the cost higher. So we should expect an ever increasing divergence between the future price and the exchange price.
Every long trade needs a short counterparty. I agree this will incentivize arbitrage, but as long as the available price of the underlying is less than the price of the active futures, then there should be someone willing and able to fill that gap.
I think?
But if you are short, and the price goes up, you will have to keep topping up your margin. Are you prepared to top up a $16k short with $20k margin? Just trying to figure this out.
there is no limit to fiat money.
I think the people on the short side will either cut their losses or just pile money into their position hoping for a retracement before the end of the contract. the higher the price goes, the more people will be willing to take that risk and the cheaper those contracts that are so far out of the money become. I believe Nassim Taleb made his fortune betting on this same kind of "out of the money" type bet.
