The problem with that image is that there are only two possible fractions of the global currency market which Bitcoin can occupy in a stable equilibrium:

0% or 100%.

There are several reasons why your calculation may not be appropriate but as for getting into the Bitcoin industry, with your age and experience, you may be better off looking to try and start something yourself than looking for a job. I know it's what I'm aiming to do.

Wired, 2014-11-24:
Brock Pierce from The Bitcoin Foundation is bullish about the future of... something?
http://www.wired.co.uk/news/archive/2014-11/24/bitcoin-myspace-cryptocurrency-blockchain

But you know Bitcoin has arrived when you see one of Wall Street's most venerable institutions sinking money into it...

Maybe they're referring to NYSE investing in Coinbase.

Sadly for some, the world is often a more simple place than we want it to be. The NYSE is one of the most venerable institutions and they have sunk money into the BTC system. Ergo, one Wall St's most venerable institutions has sunk money into it.

Crazy supposition I know.

They are obviously not hinting about something that happened weeks ago.

Good find Norway.

I normally cringe at such rampant speculation but this thread has seen far worse so now I will provide my own wild theories to the mix  

I think this gives some weight to that mention from the bitcoinmagazine newsletter (posted here and in /r/bitcoin) wherein they suggest that somebody has provided the largest funding ever to an unknown bitcoin startup. Apparently some stealth bitcoin startup is getting more funding than coinbase!

What if somebody like JP Morgan is funding the largest ever bitcoin private sector bitcoin project. JPM is apparently hiring bitcoin talent, maybe they need somebody to help them manage their huge new investment.

And what if this startup is working on something huge, like a bitcoin based replacement for the SWIFT interbank transfers system.

And what if the folks behind the massive runup in USD swaps on finex are perhaps "in the know" on this matter.

What if.

It's refreshing to see a newbie who's not just the sock puppet of a troll.

That's almost 2 people

j/k

We don't. All depends on where you live.  http://en.wikipedia.org/wiki/Decimal_mark#Countries_using_Arabic_numerals_with_decimal_point

LMAO dude your numbers are all out to lunch.

It's because we all know ((or most of us) or some of us)) know this already. Plenty of talk around bitcointal on the possible value of bitcoin if X event happened - especially along the lines of M1 etc



Relax noob. They viewed it

It is all a load of rubbish anyway. Like any commodity or share, if 1% of hedge funds bought in it would drive the price fantastically higher than 1200 measly dollars. There is a difference between money flow and market capitalisation.

point was if you dig through bitcointalk.org, you'll uncover a ton of charts on this very chart you made.

57,000 USD BTC's?

What planet is this on?

 

No! you all got it wrong.

He was saying 57K USD for all the bitcoins in the world in 2017. Unless he´s a retard...

Just rounded the number.  To get a more accurate value one should consider also the chances of it reaching 1200 but not 1300, 1100 but not 1200, 1000 but not 1100, etc.  Then one would get much less than 20% for "will get above 1300".

The 20% number is the upper bound, assuming that those buyers consider only two possibilities: "will get higher than 1300$ sometime in the next 2 years" or "crashes to 0$ right after I buy it, and stays there forever".  Then p*1300 + (1-p)*0 < 255, which gives p < 255/1300.  If they are considering other cases besides those two (which of course they are), then p must be even less than that.

Anyway, note that it is what "the market" must be thinking, not what I think.

You are looking to gain more by short-term trading, profiting from short-term variations of the price.  That is not a rational strategy, since the expected gain of that activity is slightly negative.  Some traders may make a profit, but some will lose money, and the average gain of all traders (compared to the long-term expected gain) will be negative.

If your expectation of the price increase over the next few years is more than the expected increase in value of other possible investments, then the best strategy is basically invest all your disposable money as soon as you can, and hold until you want to spend your profit.

Otherwise, the best strategy is not to invest at all.

Short-term speculation makes sense only if you believe that there is some key attribute -- knowledge, skill, luck, courage, determination, intelligence, reaction speed -- that increases one's expected profit at day trading, and that you have more of that thing than the average speculative trader out there.

Indeed, it seems that the only reason why day-trading exists is that most people think that they are better than average in that regard.  Which is not likely, since the traders that are dumber than you will go broke and drop out before you do, while the super-traders with robots and privileged information, who are surely better at the game than you, will hang around to the end and will probably take your money before you can take theirs. (You may have noticed the absence lately of several posters who apparently enjoyed eating dog food in order to pay for Risto's cigars and for KnC's global warming plants.)

If you accept that you are no better that the average day-trader, and you have a positive expectation for the price in the long run, short-term trading will give less expected profit than just buy and hold -- because you will not profit from the end-to-end trend during those times when you are holding dollars. For example, if you expect a 20% valuation over 3 years, but you keep 50% dollars and 50% BTC, on the average, over that time frame, then your expected profit will be only 10%. 

A similar conclusion holds if you have a negative expectation for the price in the long term: day-trading is a bad idea, because  you are expected to lose money while you are holding BTC.  If you expect the price to drop 20% over the next 3 years, then, by day-trading with a 50% BTC average position, you will have a 10% expected loss.  Whereas, if you don't invest at all, your loss will be 0%.

oh i know there's definitely a difference between a yacht and a luxury yacht ... the same way there's a difference between a used honda and a new lamborghini

that's what i'm sayin ... if it has more than 1 bedroom , a kitchen , full bath , and is bluewater capable ... it's a yacht in my book ... those extra feet won't help you spear fish any better anyways

Forget motor boating. Get a small sailboat. Upkeep is less than rent for a small apartment, at least around here.

gotta sail off into the sunset at some point right ? ... and know when enough is enough ... if i'm a multi millionaire but 60 or 70yrs old by the time i get there then what's the point ? i'll have won at money and failed at life at that point ... yknow ?

hahahaha ... yeah ... i can't take us there so it really doesn't matter what i do ... small fish in a big big cash ocean ... so to speak ... if i make a grand back and forth trading my couple dozen coins pile in a week it's a really good week for me ... and i'm nice and comfy watching for now ...

I'm presuming your . are meant to be , ?

yup yup i've seen that one ... the koolaid man goin ooohhhh yeaaaah is a nice touch ... believe me i'd be ecstatic if we got to 1/10th of the 1% one ... that'd be quittin money for me ...

I don't see bitcoin taking 1% of M1 in the near future (1-3 years), but i can see speculators valuing bitcoin at ~1% of M1 in the near future

32,000$

here we come!

┗(°0°)┛

you havent calculate the theoretical max possible transaction in bitcoin  and if its can cover m2

1 stateroom, a galley, full head

You obviously don't know shit about boats.
You have no business owning something when you can't even get the basic fucking nomenclature right.

well ... if this thing ever were to hit 1% of monetary that'd probably be due to a global currency devaluation tipping point and collapse of nations in the process (several nations) and likely not stop at only 1% ... so i'm not exactly rooting for that what with war and suffering and all ... besides which at less than 2% or 100,000 per that'd already make satoshi the single richest person on earth , surpassing gates by a few dozen billion ... somehow i think bringing us the operating system on which 80% of the world's computers function out to be worth more than a piece of software run on it ... at 20% of monetary or 1M a coin he'd officially be a trillionaire and could buy a good chunk of a continent and turn it into a private panda hunting preserve ... one of the southern hemisphere ones anyway ... at 100% we're knowingly crowning a money god(s) and likely assuring tyranny for the foreseeable future of humanity / making jesus mad and ushering in the apocalypse ... i tend to not be optimistic when it comes to overlords ... i don't know about you all but i'm at least somewhat comforted by the fact that we've got like 2000 billionaires running this world ... better than 1 person holding the reigns single handed ... especially if nobody knows his face ... 5k per coin (or 0.1% of monetary) is wayyyy more than enough of a valuation and much more realistic and still gives a total value to all btc in existence in excess of 100B ...

as for nautical terms ... poop deck ...

Not M2. M1. Money on savings accounts are lended by banks to somebody and put to their current accounts. So, M2=M1+IOU. Bitcoin will replace real money, rather than IOUs.  So, to calculate (maximal) future value of bitcoins we should use M1 or MB, rather than M2.

The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too.

The (simplified) definition of M2 is M1 + savings accounts + term accounts. Most of money on savings and term accounts are IOUs, since bank doesn't actually have them, they are lended by the bank to somebody else (that's why we earn interest on these accounts). That's why M2 = M1+IOU. Granted, it is all simplified. But it's OK for our purpose, which was estimating MB, since only MB fiat will be replaced by blockchained bitcoin.

All this dumping and then recovery of the price reminds me of this video:

https://www.youtube.com/watch?v=z2XUgE6g7XU

US lost keys to their BTC and now trying to buy them up at open market? Can we start this rumor cause i like where this is going.

well.. you guys can all buy up all the boats you like... im gettin me a private jet bitches..

dont need to.. the fish walks straight on board wearing high heels and lace underwear..

Had my eyes on the Lagoons too. Check out http://www.liveantares.com/

Guess she didn't make the audition to Disney's Ariel The Little Mermaid

set sail, for 290!

Ahoy Mother Fuckers

Nå begynner moroa 

If you think people in Ukraine buying coins off localbitcoins is behind this rally... you're gonna have a bad time, or at the least, be completely perplexed as to what is going on.

Tree Fiddy?

If you actively trade you have potential to make more profit.

The bears failed me during the past week.  Been waiting on money to transfer from stock accounts, finally finished this morning and now the price is over 280.  

Bought 24 btc this morning at 282, so I'm all in now (as much as I am willing to put into bitcoin that is).  Have no plans to sell these for years.

I'm not good at short term trading, itll probably tank now.

Where do you think this next top is?

Awesome, was actually waiting to see such comments.

No, we ain't going any moon, but Jupiter this time.

Stop asking for moons as we must look for some floors instead of expecting high spikes.

::: Knock Knock::::

MMmmm cheese! I'm hungry now

you better belive it

Is anyone even working on how we are going to get access to our private keys if our biological bodies are gone and we are walking around inside of the Internet? No one likes an "I had several BTC in my previous world" guy.

Our brains will be prime hacking targets. Making brainlove with the wrong person will allow them past our neural shields and turn us into hacking botzombies. It's hard work being futuristic.

ok bored now.

I wonder how much of a psychological barrier the USD-BTC exchange rate is for the Chinese portion of the market cap. It's somewhere between only thing that matters and DGAF.

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Well apparently there's a huge market for ppl who conspire to smuggle Coca Cola into the future.

You really are out of your depth here. You cant add anything constructive. But you are a cunt. I will give you that.

crap

"Unlike bitcoin, where the network is decentralized and there is no overseer, the proposed digital currency system would be controlled by central banks, the source said."

Biggest facepalm ever, because decentralization is the #1 property that makes Bitcoin what it is. Truth is they have not the slightest idea how Bitcoin and the blockchain works, but they think it's cool and want to build their own, LOL. Another thing is strong network effects for a secure blockchain, that's what these dumbtarts will never understand.

is that a true story, bro?

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.

OT

Fox News Military Analyst: US should start killing Russians in Ukraine

https://youtu.be/hLmBmf-OmXc

Jeeeze... say what you think why don't you.

Thank god this guy is retired.

Christ.

10.000 USD pr coin is what I would say is the real bitcoin price, if the market was fully informed. I think a lot will happen soon, and definitely the prices should be between 1000 and 10000 soon... with the 2500-5000 an more realistic range of the next bull market.

Thank you very much guys!!! That's the best advise I have got in a very long time, will be very helpful for me... I am very happy now... I want to go get some beers and begin to talk the truth (after) with you guys

Coindesk Launches "Deals" BTC NOT ACCEPTED!!

https://bitcointalk.org/index.php?topic=991990.0


Lol

Holy shit. You really are drunk as a lord. My colon is a more reputable source of crypo currency news. Coindesk looks shiny on the surface but a bad smell descends the closer you look, even worse than my colon.

There's nothing wrong with Coindesk. But half of the people in the Bitcointalk forums wear tinfoil hats and sit next to their gun collection trying to understand the world they live in.

Btw: The word is spelled loser. By misspelling it, it boomerangs on you.

Ah, you are a journalist. That explains it. Funny, you didn't mention the VC company when I asked you, but now that you're in a drunken rage you're Mr.Connections. However, nobody's interested in my 12500m2 former NATO base in the friggin arctic anyway, and I'm done with begging. It will take longer to do it alone, but if that's how it's done then so be it.

Good! It was YOU! I don't have any connections. But I have a semi connection (Tellef).

Yes!!

It means CELLLLLLLLLLL!!!!!!



 




PS: it means sell because it's crashing.

But what does it MEAN!?
Something is brewing for sure this time

it means sentiment is going up as price falls.

bitcoiners think down is up

a truly bizarre anomaly

hodl on to your butts, the singularity is forming

What an odd situation hmm?

Perhaps.

Holy crap!

He made a song about Tarmi!!

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

No, that guy was skinny. Guess that's why he calls himself Fyrstikken (Matchstick).

No, seriously. It's not me

He's seems norwegian enough... Just contact him by his youtube account and get him to perform at one of your meetups. Every artist likes a good crowd.

I heard two of the most major Norwegian banks announced to the public that they will no longer service Bitcoin companies. Are the rest of the Norwegian banks still OK with it?

VAT is for pussies

The explanation I got so far was that if I sell outside of Norway I won't have to pay VAT on the coins. With regards to policy. Norway won't make any decision/change before there is a pan-european consensus on how these things should be regulated. We are too rich to bother. I am just happy BTC isn't illegal in Norway.

I agree. VAT is a big hindrance to BTC having much of an impact in Norway. It makes no sense. They are basically saying that Norway will stand on the sidelines and let the rest of the world pick the low-hanging fruit. The danes simply said: none of our business, do what you want. But that's not the norwegian way.

BIT is live. No shareholders are desperate to sell even for $315. Bullish?

Really, BIT is live?? Anyone can confirm?   I'd expect to see a lot more market movement if it were true...

how many shares vs how many 'real' bitcoins in?
is theer any transparent proof?
or is it just another wallstreet hyped PONZI?

Would be funny if that 100 at $50 bid gets filled.

This thread has turned to absolute shit.

What a shame.

90% of each page is ignored


But if Tarmi is still around in a few months I'll be more than happy to quote him this


Well, I hope adam cleans this place up a bit.

The bears have lost their grip on this market and the sockpuppets are becoming more and more vile,

you reap what you sow

Hfertig
ShroomsKit
luckygenough56
JohnPercent
sporket
FatherBob
Cassandra_PR
Silverspoon
mrkavasaki
Dump3er
William Henry Gates
Son0fLamb
Jammalan the Prophet
NotHatinJustTrollin
Wandererfromabroad
ChildPr0nzUsers
JihadCoinz
fuckoffstolfi
Hellomoon
Errydayrally
MightAsWellIgnore
AnotherAccount?
NewbieJailIsBadMmkay?
trelelel
EVOLUTION_A*D*M*I*N
SilenceOfTheLamb
BullTardLogic
Boooooooooring
btcponzieeg
kwukduck
MatTheCat
12345mm
exocytosis
Mervyn_Pumpkinhead
Wandererfromthenorth
tarmi
YourMother
fat buddah
homo homini lupus
Warren Buffett
Warren Buffert
NotHatinJustTrollin
Arpeggio
Second-base
bitards



It's really sad, until a few months ago I had a policy of no ignore list, trolls were generally annoying but they each had their moments.

But now it's just constant shitposts

It's all a personal preference though. You might find some of those posters to be people who touch you deeply. The likelihood is not, but who knows?. My ignore list is considerably larger than that but I'm getting old now and wish to use my limited time left reading opinions that actually count for something.

here we go 

How does this service work?
They don't explain it in their site.

Are they using BTC and then converting it to fiat again? Are they just using the blokchain without touching BTC?

They just say "we use the blockchain", do you have more details on how this all works?

railing against human nature is a dinosaur braying against the meteors ... noone's listening to you, it is about the coins you fool, where have you been the last 5 years under a rock?

Ripple is finished because anyone can seize anyone's coins and kick them off the net for arbitrary reasons ... stupid ripple labs just shot themselves in the foot by locking up Jed's ripple coins in bitstamp and advertising to the world how broken ripple is. And the same will go with any other "blockchain" tech that has arbitrary centralised controllers, cartels, pools whatever.

The digital internet of valuable data is like nothing before, leave your past experiences and preconceived notions at the door. Where we are going there are no charts. The weird and unusual will thrive. The petty, boring, staid, inefficient, corrupt establishment old ways can be left behind.

Today it is a very different landscape. We know the limits of BTC and the blockchain a lot better and new technologies are strating to appear (AND I'M NOT TALKING ABOUT ALTCOINS/SHITCOINS!!!!).

Check his posting history. It rhymes with nipple and you get a slapped botty if you like it too much around here. I gave up attempting to figure out how the fucking thing works and feel better for it.

Had him on ignore for months.

Ripple is dead so his purpose for being here is now over.

so cute how the statists are always convinced that they know how the real world works...until it isn't, because people die  

That's exactly how all these silly sausages want you to feel. Who knows who it is and who cares? By the sheer volume and persistence of diarrhea squirted out they've proven themselves to be utterly irrelevant.

Ignore and converse with those who you think are worth listening to. Look back into the deep past of this forum. There was the same squealing and doom all the way through.

If BTC was $100,000 a piece there'd still be the same old crap. People still yell about gold and it's only been around for a few thousand years.

There's enough aggravation on this thread.

I cherish you very much and only want the best for you.

Good afternoon Bitcoinland.

Still going sideways in the $250s I see. Same old same old.
_______

Interesting thing happened to me last night. I was wearing my BTC cap onstage in one of the local bars when some young dude in the audience saw it and during our next break he approached me and struck up a conversation.

When he asked which mobile app I used, I pulled out my device to show him and he immediately scanned the QR code and gave me a 0.05btc tip.

Where I was playing that equaled almost 3 beers. Nice to see that some young people still appreciate rock&roll played on real instruments. Also nice to see Bitcoin being used in the real world.

Thanks bro.

any second?

was there an announcement or are you just saying that.

It does actually look like bids/asks have been updated in the last 24 hours, the one from PUMA Capital is new and so are a few of the others:

http://www.otcmarkets.com/stock/GBTC/quote

I really don't get why anyone would want to sell their GBTC coins at current prices, to be honest... I mean they all bought in at higher prices and they are obviously investors who aren't in for the daily fluctuations, thus they most likely can afford to wait, as well.

Yeah, well... It's a one-way arbitrage to be honest... They'd be out of the GBTC system and into the regular coins. They might prefer staying in that ecosystem for some reason or just don't want to go through all that hassle for 10%...
If anything, this is bullish... Can't see anything bearish about it, really...

whats the deal? they would have to BUY EVERY SHARE FIRST that they wanna go short with. so go ahead and BUY 10000 shares in this low volume market just to push the price up and go short. LOL! best way of burning $ fast.

BTW,, there are no "GBTC coins".  Those are BIT shares; GBTC is just their ticker symbol on OTCQX, just as AAPL is the symbol for Apple shares on NYSE.

Presto!
No more trolls! 

LOL, I checked what I wrote last time!

Skål tilbake! Så får vi håpe skuta snur snart!

Skål!!!!
You Northmen drink too much... (I kinda jealous TBH)

It will, it will. I can't imagine anything else. If 5% of the developments in the Bitcoin ecosystem from 2014 catches on, we will be riding the wave past $1000 soon. These chart-nosing day traders forget that there is some really valuable utility backing up the price. And a security network unlike anything ever thought of before.

"....bitcoin miners now have 13,000 times more combined number-crunching power than the world’s 500 biggest supercomputers." - The Economist.

This mofo will take off, big time.

I saw that. It's just hard to grasp the future scope of this technology at the moment.
I remember I got a bit fed up with the linux community in the 90s because, well they were quite rude to newbies, but mainly because they genuinely thought they were going to take over the desktop market with their unpolished glitchy GUI and people would just have to educate themselves in how to use terminal, cause that was the best way to do things(?!?!?!). I thought they had lost the plot.
But behind the scenes people started running apache on outdated machines on linux with great success. Any problem was quickly addressed by enthusiasts who liked to show off their programming skills, and by the end of the 90s much of the internet ran on linux. Now almost all of the internet runs on linux.
That's the kind of development I expect from bitcoin. Yes, some "normal" people will adopt it because they have needs or interests which makes Bitcoin worth the effort, or they are simply enthusiast nutters. But much of the big movements will be behind the scenes, smoothing out the speed bumps and lowering costs for financial institutions and large corporations.

Yeez Louise!

I did a quick search and it turns out that every lovable american comedian is a canadian!

Jim Carrey, Mike Myers, John Candy, Seth Rogen, Phil Hartman, Norm Macdonald, Leslie Nielsen, Martin Short, Rick Moranis and Dan Akroyd. Heck, even Captain Kirk is canadian!

Yeah, there's a reason for this...
They get you into The List in no time...

PS: List is now updated.  

 

Hey Buddy! Hey Friend!

Better asking that here https://bitcointalk.org/index.php?board=24.0

Your activity should go up 14 points every two weeks or something. Once you're past the opening few days it doesn't matter how many posts you make. You only need to make one every 14 days to go up.

T-Minues 39 minutes untill big crash. :/

Why are the top two orders colored green?  It wasn't like that before, right?

http://www.otcmarkets.com/stock/GBTC/quote

such goose bumps

No something is different... didn't do that before. Bids are increasinng there as well.

if your hitting market sell at < 300

YOU'RE A RETARD

when your "Wind Power" can buy a labom equipped with two hookers in the back let me know.


pfff, Wind Power.... what a retard!

In the last 24 hours, I have been waiting for 217-ish - and NOW it seems that those  kinds of price points just may NOT happen... ever again.. hahahaha..

I expect them to hand down these bitcoin to their children who will immediately spend them on stupid things like a sail boat...

Trust me, you don't want a boat. You want a close friend who has a boat.

There are trades. There's just extreme lag. Beats gox, doesn't it?

price seem not going to back to 250 soon  any news about the price ?

Bullish

I remember they saying about it last year.

Also the new forum software and the PD signature campaign will launch very soon

Anybody know what "unpriced quote" means on the ask side?

I wouldn't count the weekend out either. This price wants to move.

quoting for future mocking purposes

If and when this does occur, would this so-called stampede be the default ending of the bear market permanently or would this news just cause another pump and push back the final leg down that many people are expecting? I'd think this would be the former considering this would add significant demand to the market.

That. BTC-E is normally $5-10 under finex.

most likely the margin only cover trading fee, not mention the witdrawal fee if you insist to withdraw the coin too

Just to add to the question. Would it make sense to use litecoin to transfer money from one exchange to another without using fiat?

i feel something big is coming and mega-pump seems imminent, news are talking bitcoin again http://www.cnbc.com/id/102594745

i feel something big is coming and mega-pump seems imminent, news are talking bitcoin again http://www.cnbc.com/id/102594745

Thanks! Would be interesting to try BTC arbitrage between BTC-E and huobi/okcoin/finex using LTC. I'll just have to sit down and look at the fees.

Nope, but I have thought about it. If it's done right it can be a steady stream of income. Sometimes you just have to try.

Good thing I bought 20 bitcoins this week at around 217!!!!!!!!!!!!!!

I've done some arbitrage between BTC-E & Bitfinex, stopped doing it no matter I've been in the profit with it. There are several reasons for that.

First there's a problem with moving LTC as secondary currency between exchanges, you can not move US$ so you have to move something to balance the sheets between the cycles. LTC transactions are fast, but not fast enough that LTC fluctuations don't eat your profit. Remember that all bots are doing the same as your bot is doing at that moment when profit margin opens, so the price moves in worse possible direction for you and it moves fast, as fast as best bots can do it, and there are some very good bots out there. If you decide to put permanent amount of LTC on the exchanges, and move them only while nothing happens, general decrease in LTC value also eats your profits. Exchange fees are far from neglectable, if you have to make usual 4-trade cycle to close the arbitrage you have to pay 0.1% + 0.2% + 0.1% + 0.2% = 0.6% fee, you'll find that eats your 1% arbitrage opportunity quickly. There''s also big problem that your bot must take care not only of the prices (which is trivial) but also with the volumes (which is not). Good luck calculating estimations if your bot will be able to close the whole open position when LTC completes withdraw & deposit transaction from one exchange to another.

All above considered I can tell you firsthand that: yes, it can be done, but it was not worth the effort and risk for me. It's easier to trade and profit on the exchanges then to arbitrage between them.

Nice! Some pressure on Lawsky  
http://bitcoinist.net/new-yorks-bitlicense-faces-competition-rand-paul-event/

Thanks! You kind of confirmed my suspicions. For me, the tempting ones are when BTC-E is 3-4% lower than the rest. But last time I looked at it the problem was that to make any real money from it I would have to trade with a larger volume than the price could carry. So it would, as you say, be a lot of work and risk for peanuts. But some kind of arbitrage would be cool, if only to get a soft entry into trading.

so this forum has descended into the absurd ... NLC and the troll army have spammed and crapped up the WO for months and the moderator arrives from nowhere and deletes 2 innocuous posts about twists on OkCoin labelling ... wtf? got shares in OkCoin mod? dimwit

Does the lack of troll counts as a signal of a trend reversal?

Fiat cannons loaded. Someone bring us under $200 please

Fly me to the moon and let me play among the stars. Let me see what spring is like on Jupiter and Mars.

In other words... let's launch this mofo!

what exactly ,for example ?

Anyone catch the live stream of Balaji Srinivasan of 21 speaking at the job fair? I missed it and am curious if he divulged any info on their game plan.

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.

He's here to use his superior brain and education to save us from ourselves. I think it's a bit too late for most though.

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. 

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.

It doesn't  look much like one now, does it?  But there are still people trying to sell it as such...


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.

They are scared shitless, after all those unforeseen brutal pumps and short squeezes in the last time. BTC really looks strong as fuck, 7$ above the last low... Demand is undeniable HUGE right now, everyone and their mother are cleary killing each other to get their hands on those dirt cheap coins! Choo Choo

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...  )

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)

TBH I didn't understand your argument. A lot of old news would somehow create the perfect storm tomorrow for no real reason at all?

Of course, If you are right then we will all hail you as our new king.

GBTC might start trading on monday, but I would think Gemini/Coin would want to comply with the final BitLicense before they launched. So it would be quite impressive if it came out the same day. And I would be surprised if that loon Rand Paul would get anyone to buy bitcoins. But I thought the price would be $850 by now, so wth do I know?

I find it hard to believe that the heavyweight attorney that specializes in this SEC stuff can't make it happen or know the approach to making it a high probability. I'm sure she has had clients that work in key areas of the SEC and/or is on a first name basis w/ politicians that can properly lean on the needed personnel to lock this up. Furthermore, I'm sure major interest across wall street and the hedge fund scene want this type of thing up and running to put portions of their assets into it for an intense growth wing.

Hm, if there is going to be a weekend-end-pump, it is slow to start.

The US government can if they want to. All they need to do is arrest key people in the Bitcoin community for distributing an illegal alternative to the legal national currency and make a statement saying that the use of bitcoin is illegal. No lawmakers need to get involved, they have all the precedence they need. If they made it a priority to stop the use of bitcoin internationally they would make it part of their foreign policy and you would see one country after another fall in line. And Norway would be that annoying kid that does it very quickly and then starts pestering the other countries to do it too.

im more than happy if bitcoin reach 3000 usd 

btw : http://www.otcmarkets.com/stock/GBTC/quote

GBTC bid is 400 usd almost double the price atm

Not "money", Monday.

Wall Street Monday is a mythical bullish event that Norway and a few others were anticipating for today.

It obviously didn't happen.

I'm guessing it's one of these?

I think something is stalling the price and keeping it down for Gemini/etf/bitlicense.

+1 

Means they shorted Bitcoin using leverage 30,000 contracts (each contract is worth $100 in BTC.)

The price went up and the broker sold their shit.

I guess that people that want to make big buys usually don't go to reddit to announce what they are going to do

A message to the bears perhaps?

https://www.youtube.com/watch?v=aTL4qIIxg8A

Chinese Yen not Japanese Yen dumb fuck..

Something is going seriously wrong at Huobi.  

Did y'all notice OKCoin dumped down to 1387 during the rise?

Definitely not a scam email, its from seedinvest. I cut the email off in the pic the rest shows who he is.


Ameet Padte
Investment Director
SeedInvest, LLC
222 Broadway, 19th Fl., New York, NY 10038
+1 (732) 439-3810 | Skype: ameetpadte
ameet@seedinvest.com | www.seedinvest.com

You gotta be kidding me. Go to seedinvest.com and see for yourself dammit. You people are hardheaded lol

Whats a cryptocurrency debit card without a few choices?  

I forgot what kind of people I was talking to.  So I give up. You were right all along. I am sorry for bringing you this information.

It is?

As opposed to - Bitcoin is dead....double digit coins on the way....etc etc
When we drop 10 dollars?

The Master has spoken! Any thoughts?

https://bitcointalk.org/index.php?topic=274613.msg11158130#msg11158130

I think I follow you. Anyway I'm a 7-10 years kind of guy like Norway. I just come here for the free booze.

I making perfect.drunken sense...How much.more can I say bro? My monkey has been on fire since 295 and down....  Hitting highs and lows like a sniper,  I trust my monkey....  Although I have not been talking to him much this week.... My ride down from. 270 To 220,  has been. Textbook,  and now just munched a few easy bits for tying in profit...and now got my multi stop and catch pattern is. Place. I am ready to go and sleep and party and catch up with you guys soon....  I am drunk And maybe a little. More.,  I KNow I cant type anymore.

Look after her, do you break my precious,  I got a coma to deal with.

Be safe out there my jungle wall observers
 

No kidding, this guy was slaughtered on the alter of doom and it was a major shot across the bow of the bearmobile. If it can happen to this guy, it could happen to anyone.

Enjoy it while it lasts bulls.

Cause this bear market is far from over. I kinda agree with masterluc prediction of one more year of slow and painful descend.

No, I am saying that because this is very inefficient market and the bubble didn't deflate yet.

With other commodities and stocks, often everything happens from the same accounts. Bitcoins are often tied up offline, some are buried in mining activity. There are barriers and non-trivial risks to having everything up for sale at a certain price. This makes the spot price somewhat inefficient in reacting to market changes.

This in itself won't push the price down, it's more of a tailwind. The headwind is the unwinding of a bubble that started in the mid $1xx, and 3600 coins a day being minted. Increasingly, minted by big industrial farms with industrial size costs.

Eligible $GBTC shareholders are in receipt of instructions on how to deposit their shares into their investment accounts.

https://twitter.com/GrayscaleInvest/status/591713454400139265

No.. thats not true at all. This was 100% led by Chinese exchanges..

Bitfinex was completely reluctant to follow, and only managed to break through the walls by opening more shorts...

hopefully silbert, draper and winkles are smart enough to feel stupid  

Is that the one where Rand Paul is going to speak? Sounds like a pivotal event for Bitcoin, excited!

You know what I wonder: with all these guys with all this money at stake, you'd think they would pay some anti-NLC types to defend the reputation of their investment. Why aren't there more everything is rainbows trolls?

You have to wonder how many is sitting on the fence waiting to see where the price will go when trading commences.

Yes, somebody needs to ask him wtf is going on.

ps: @Wandererfromthenorth awesome Uranus meme!

the fun starts again.  This time to $300?

The internet is tired of waiting for its own currency so it has taken over adoption. We may as well sit back and relax.

Good point that a paper BTC derivitave (like GBTC and COIN) will attract a small but significant sum of money from investors who want to hedge against recessions and market/currency/economic crises. It's yet another tool for portfolio management.

This fact alone puts it on the radar for Wall Street, who make money selling these investment instruments to the public. They have undoubtedly "helped" the bear market due to the fact that there are so many green traders who are easy to shake out.

Think about this: Hedge funds aren't allowed to buy bull markets--in fact this is a great way to lose your job of you work for one--instead they buy down markets. When they buy, they buy low and they make sure to not mark the price up. Why would they make you rich at their expense? If the $200 level holds it's good evidence that these prices are "low" to whomever seeks to build a position in Bitcoin, and they hope to revisit higher price levels in the future.

Seeing how twitchy and hungry for good news this market is, watch everyone fat finger the margin buy button if GBTC begins trading at any price above spot.

cmon now... you are scaring the bears. they still has hope that price will hit lower than 200 at least once so they can buy cover their short 

smart bears are waiting for double digits like I do.

you are not scaring anyone with fake bid walls and buys on illiquid exchanges.  

By the way, don't expect any major move before the 7th-11th May, we are gonna stay in the $210-$225 area until then.
THEN the big move either up or down.

Everything seems to paint a scary bearish picture so yeah, the real start of the next crash is a lot more probable than a breakout.

That's ironic (or pathetic), coming from an account that was created specifically to troll another user... 

I already timed the BTC markets in the past, nothing fancy or complicated to do. Others have done it too several times.
The BTC markets can be more predictable than most people think.


The start of the crash to $150:






The 2014 megapump from $450 to $680 was very easy to time with precision of days too. Too lazy to search that old post tho.

What do you mean "historical trades"?

It's based on very basic TA.

No, Jorge is a very smart computer scientist with an inflated ego who peaked decades ago. His "musings" about bitcoin are an attempt to stay relevant as he slowly fades away into academia.

Ok, then yes, TA is based on historical trades, that's what TA is of course, but I don't understand your point.

I am supposed tobe grading this:

and another one like it from another course. Do you need any other explanation?

3. A computer science professor who is interested in the bitcoin phenomenon simply as a spectator, and considering that  interesting/fascinating/worth some lols stuff happens in bitcoin world on a daily basis, I'd say that's all the motivation one needs, whether holder, trader, or simply an observer.

He simply looks at everything bitcoin related without bias, as opposed to the permabulls which are trying to push their investment at all cost (without critical thinking).
Most of the time he talks about facts that permabulls don't like to hear, that's why they attack him.



There you go 

The system here is different from the American one, but yes, I have tenure and I already got all the promotions that I could have in my career as teacher/scientist.  I could try running for university president, but there are too many profs here who know me already, so my chances of being elected by accident would be pretty slim.   

Because JS won't answer your question I will.

His extreme interest, always with a negative slant, is a combination of:

a) Extreme butt-hurt at not buying when the BTC price was $1, and can't stand seeing free-market libertarians making such easy money, so he wants it to crash to near zero, not so that he can buy cheap, but to see all BTC holders brutally punished for their hubris.
b) His Keynesian inflationista perspective which rejects a Bitcoin or other decentralized cryptocurrency-based world economy which would make all governments have to run balanced budgets, reining in Big Government, the massive socialist states, nanny-states, and surveillance states.

Folks, I wish I had time to count the number of posts about ✫ME✫ in the last few pages.  But (a) I have a class to prepare and (b) if my ego gets any bigger, it won't fit through the door...

Man if your ego gets any bigger in the future, just look at the picture of your face and your ego will shrink back immediately

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

XBT Provider Launches World's First Bitcoin Exchange Traded Note on Nasdaq Stockholm

What could go wrong! It's free money, right?

Everybody is busy with 20x @ okcoin because of the ETN.

Ka i satan!

Din snik!

Calm down people.
This is hardly a reason to get too excited.
Not yet any way.