LOL, I need to make this my default browsing portal.

Hi guys!  


Having fun yet?

Heh, this wall watching is making me feel nostalgic of the good ol' days... 

Heh, this wall watching is making me feel nostalgic of the good ol' days... 

Thanks for taking the advice posted elsewhere in the thread ChartBuddy. I think this looks much better.

You're providing a lot of hints here. From your line of questioning alone, I'm able to deduce that;

Milk comes from those animals.
Those animals are fed those crops.
A quantity of oil large and small enough to be moved around is used to support the growth of those crops.
I know how all that stuff is moved around.... right?


Edit: Ah! I think I figured it out. Milk is actually just oil that has been refined with what seems to be an incredibly inefficient process. Thanks!

Doesn't all TA fit under this description?

Hehe, keep it up Blitz! There is a Proudhon shaped hole in all of our hearts. You are making me feel whole again for the first time in a long time.

Hehe, thanks. Been a while since I sang this in the shower.

Long-term, I'm a hyper-bull. Mid-term I'm a mega bull, but short term I'm a fuckin' bull.

Nobody holds bitcoins harder than me unless they lost their private key.

I've never lost any BTC holdin like a mofo. You guys should try it, way lower stress.

It's the cool thing to do now Mucus. You're too non-conformist for that.

+2

Already did all my dick swinging on Havelock today.

xeno, I believe the daily BTC withdrawal limit for verified users is 100 BTC.

I think the consensus is that it's harder to get USD out of Gox currently, so there are coins being bought on Gox and sold on the others in order to "cash out", which means the different exchanges are experiencing proportionally different amounts of buys vs sells.

I don't think there is a correct answer for that, but it's likely inbetween Mt. Gox and the others, although Gox does considerably more volume, so that price may carry more weight in this equation.

Well, someone with more hardware knowledge should correct me if I'm wrong here, but currently I don't think it's possible to perform hashing functions more efficiently than an ASIC chip, as they are a hardware solution, designed only to do one thing. I'm sure someone will interject with something about quantum computing here, and I will say okay, sure.

A CPU sucks at running SHA256, because all the work is done on a software level, which is inherently slower, instructions are executed one at a time, and there is no logic being applied to how they are carried out. What I *think* this new extension aims to do, is add an SSE level logical process to the CPU that will be able to analyse the SHA instructions, and execute dupicates simultaneously, instead of in the order recieved. This will provide a significant speed boost to CPU SHA performance, but probably nowhere near the magnitude requred to compete with an ASIC chip.

lol, can you make some charts?

Make it impossible to get $ out - create upward price pressure.
then
Make it difficult to get BTC out - limit upward price pressure.

Adjust these two dials until you get stability!

Hmm, interesting. I don't keep up with the stock market much anymore. I gather Soros has a good track record for this sort of thing? The article mentions other occasions where he made similar calls that turned out to be good, but I assume that there were some not so good ones along the way as well. If he's taking this position, it basically means that he thinks tapering is going to happen, right? Or is the size of the put indicative that he only means to hedge his current holdings? I have no idea how much $1.25 billion is to this guy.

Bullish Mucus, or forgot sarcasm font?

They should decentralize?

In all probability, it never left.

I had this same thought the other day. If there was only bitcoin, and mining becomes so saturated with high-end hardware (does this sound familiar?) that it becomes unattractive at the consumer level, you hit a ceiling of decentralization. At a certain point, buying more hardware is just throwing money away, BUT if you buy enough hardware, you suddenly become the federal reserve. I saw a website the other day (forgot the address, sorry) that just keeps a running statistic for how much it would cost to launch a 51% attack on bitcoin via hardware manufacturing. Right now it was something like $350m. That seems like a lot (depending on how you look at it) but if bitcoin was to gain the global acceptance that we all hope it will someday, it's not a lot at all. There is a big incentive to be the "federal reserve" of bitcoin, and a government entity might be willing to shell out that kind of money to do it. In fact, multiple governments might be racing for it. Even if they all fail, the network will have a majority of government control, and they can come up with all kinds of dealings with each other behind closed doors (like they do today) and leave us in the exact same situation we are in right now (with the dollar).

This is a legitimate reason we need Litecoin (among other coins). Litecoin is our insurance policy, not our silver. If we lose "control" of bitcoin, we (those of us who don't like being bound by government money) can easily move into Litecoin, making the prospect of trying to control digital currency a little less appealing. Let's not forget that we always need to have that backup plan ready, and maybe not be as big of a dick to the Litecoin fans.... maybe.

That's a good point as well. Regardless of who it is, the odds of someone trying it eventually are high, I think. Altcoins will prove critical to thwarting this threat.

You meant, except me, right Adam? I think we all know better than that.

Not really. Ebay (via Paypal) made their position on potential bitcoin integration public in April, possibly before that. Most people dismissed it as them being dismissive (irony?), but I've had reasons to believe otherwise in the meantime.

Hehe, the story is pretty suspicious indeed. Also, I know for a fact they have good resources they can tap into for bitcoin info, so... cold calling doesn't seem logical.

One other possibility is that the video was put together in April, when Ebay/Paypal was actually talking publicly about bitcoin and the outstanding value WAS around 2 billion dollars.

It's okay Mike, I did that for a couple years in the stock market. I refer to the money lost as the tuition for my investment training. It was expensive, but I got a comprehensive course in everything you shouldn't do.

US Gov can hack bitcoin?

And your proof is a series of articles documenting that they are actively making requests to major service providers for their encrpytion keys?


Let's think about this one for 2, maybe 3 seconds. If I was US Gov, and I could defeat encryption.... why am I going around asking for keys again?


I'm not quoting you in respect to all those that have you on ignore.

You're saying they can't break encryption, right? Just so we're clear.

The fact that it's a "multi-pronged" effort, involving methods like intercepting the data before it's encrypted, inserting vulnerabilities into commercial encryption software, pressuring major organizations for backdoor keys, or permission to insert code into their systems, writing clauses into the Patriot act allowing them to hold on to encrypted data forever, etc. etc., to me, says that they in fact CAN'T break encryption. If you could break encryption, you would just do it. It would be a "single-pronged" effort. Why waste time with all that other crap?

Now if you legitimately believe they are brute forcing the encryption open, what kind of timeframe would you put on that? 100 years? 10? 5? How long until they can do it in less time than the time between bitcoin blocks? Would that cost less than launching World War 3 and nuking everyone into slavery?

I'm one of the "select few" and I'll tell you. With the help of Sherlock Holmes, we've assembled a crack team who can break substitution cyphers in a matter of days, sometimes hours!

Think twice before encrypting your critical data with your secret decoder ring.


I really can't tell if you guys actually believe the FUD you are posting or if you are legitimately confused about how encryption, and more specifically, bitcoin work.

LMAO

They'll be able to get out multiple types of cryptocoins? If we attribute the higher prices on Gox to be a result of USD withdrawal issues, then it stands to reason that adding more altcoins will distribute the price inflation amongst them. (assuming there is a place to sell those coins for fiat).

I wonder if he failed to realize the banks have already been fighting bitcoin. Accounts associated with bitcoin transactions are shut down just about every day. The US government has begun tying up any organization affiliated with bitcoin with a bundle of red tape. Bitcoin business is moving or growing outside of the US for these reasons. Everything short of declaring it illegal in the US has already taken place. I can only assume that the recent interest with subpeonas and meetings with BTC foundation are to get an understanding of exactly how to write that law in a way that it only applies to bitcoin, or other crypto forks. Digital currency is a whole lot more agile than US law, so they need to get it just right, and it needs to be a surprise.

That being said, the next step is "then you win".

Guys, I'm starting Hulk-coin.

Remember the last time we were at these levels? This forum was like a carnival. Now... not so much. Did everyone here sell all their coins into strong hands since April?

So if nothing is getting in/out of gox.... I wonder why it's keeping any kind of parity at all? It's an isolated market of IOUs.

btccharts.com says they have about 5000 coins left....

Edit:

They are also trading at $295.50 currently.

and $400  to $300/BTC on BTC China

OMG chris, you're killing me. Please tell me you have a book I can buy (with bitcoin).

Hmm, perhaps the big holders are positioning to "sell on news" as we might begin to get a glimpse of US regulation next week during the hearings. If this does in fact trigger a dip, I have no doubt they intend to buy them all back up.

See you in 2 weeks.

Satoshi seemed to disagree with the idea that bitcoin could fail.

Indeed. I'm trying to get money into bitcoin RIGHT NOW, and I just can't do it. And that's with me having a verified account at Gox and Coinbase. No coins, or 7-10 day international wire transfer? Hmmm. Well this blows.

What are other people doing? Am I missing an obvious option? Yeah 7 days a little discomforting for a couple reasons. I think bitcoin could shoot up in that timeframe, and then I'd rather have the dollars for the interim.... which would be trapped in Gox. Secondly, Coinbase is supposed to restock in less time than that, and I know I can get a better price there.... just no guarantee that I can get in line fast enough to get any coins.

OMG, it worked. Thank you. I just tried like 10 minutes ago.

It looks like the API has been hijacked somehow. It's playing the same series of trades over and over again, made to look like a crash is happening. Meanwhile the real price stays at 585.

Are you saying these trades actually happened? I have heard evidence to the contrary from several people with outstanding orders within the range depicted in the loop.

What would you do with 4,400,000 gox bux?

You're wrong on more than one point. But I understand you're probably just trying to talk the price down, so cheers!

These are my sentiments as well.

It means you haven't ignored Walsoraj yet.

This might be in reference to BTC-China

Adam does countdowns every now and then. There doesn't need to be a reason.

Is there a 0, or can I post my rocket train pic now?

Screw it.

Hi Loaded!

Bitstamp wall eaten.


nomnomnom

Do you have to do the shooting, or is there a 3rd party standing by for that?

I don't know. My chart says 973.

*continues to hold*

Can people not see it right now?

This is like the good ol' days, haha. Remember when we'd ask for pics every couple of pages?

Never give the actual date for bail-in!

OMG guys, the feds got Silk Road! Sell all your coins! Silk Road is the only reason bitcoin is worth $X!!!!

Are we doing this?

By "this", I meant spamming the thread with rockets and trains. Looks like yes. Carry on.

Oh, you misunderstand. I'm in favor of trolling the thread with trains and rockets. I think we should all just do that for about 4 or 5 solid pages.

High five.

I get it now. This sounds like some spy shit.

Obliged.

Looks like it's time for me to post this again.

So... Did Coinbull ever pay into the escrow? I was enjoying the drama yesterday.

Are you sure about this? In the original announcement it sounded like they wanted to make their own payment processing system in-house, to avoid the market dump effect and the fees.

Just placed my order for random crap! Easy and so satisfying.

Done.

Well, it looks like a brontosaurs was forming to me, and in that case, yes. I could see the argument for a triceratops or a brachiosaurus, though.

持有

Good idea. My life has been so much better since I started using Holdbot. I check on it periodically to make sure it's doing what it's supposed to, and it's still never moved a single coin from my wallet to the exchange.

He's encouraging people to use their own brains.

Almost all the thread titles in this subforum are bearish now. Buy in opportunity approaching.

For those of us who were here when that blip on the left resembled this chart and this image was getting thrown up in every thread, this is pretty funny.

At the same time, I look forward to the price dip below the stealth phase. Single digit bitcoins are coming back everyone!

That sounds bullish.

Haha, you wrote that email, didn't you, Mucus? It's okay to admit it now.

Your FUD fails for assuming Loaded would ever drive himself somewhere.

They don't really have coins in Gox, do they? It's the only scenario that makes sense.  Which is more likely, from a logistical standpoint; Gox enables BTC withdrawals, or Gox enables USD withdrawals? I think most people would answer BTC withdrawals (in the absence of anything shady going on). So.... If you had one or the other stuck in there, which asset would you roll the dice on? The huge sells down to $13X, or whatever it is now, would indicate that the majority feel it's more likely that they will get USD out of Gox in the future. What? How could anyone believe that? (in the absence of some other knowledge).

The prices being 25% of what they are on other exchanges would suggest that it's a 4:1 majority who feel this way. That's just nuts. If they are insolvent, you aren't getting either (so why trade for the depreciated asset?), and if it's really just a technical glitch, that every other BTC exchange in the world has already fixed, then the expectation would be that Gox should eventually stumble upon the fix as well. Both of these scenarios would lead me to hold BTC, not Goxbux, were I forced to make that choice. Gox has been working to find a bank to process withdrawals for months with no success, all the while they are becoming a less desirable business partner in the eyes of the world. The idea that USD is going to be the winning asset to hold there is the worst possible assumption.

So what am I suggesting? There are no BTC there. They are just moving numbers around inside a ledger for commission, in a desperate bid for solvency. Selling their fake BTC to anyone willing to pay anything, while halting withdrawals on the only known technical glitch which could affect them somehow. Curious they were the first to encounter and announce this huge problem with bitcoin, and the last to sort it out. (Tongue firmly in cheek)

So I'm becoming reasonably certain that insolvency is the real issue, but it's hard to know how deep in it they are. If it's just a few thousand BTC, perhaps this stunt will close the gap. They buy back the BTC they owe on other exchanges or OTC with all the commission they took selling fake coins, and limit withdrawals exactly right to slowly climb back into the black, and nobody ever knows how close they came to collapse. But if it's an impossibly wide gap, they waited too long, and no stunt is going to close it, what are they doing right now? Maybe they are trying to work out a deal with a large BTC holder to cover their position until they can right the ship in exchange for part of the commissions. I can't think of any other good way out of it.

So, is everyone fearful now?    

Check your math.

This. Although it feels weird to be quoting proudhon saying it.

Satoshi likes trains? He must love this subforum! CCMF

Look guys, she eliminated all of the other possibilities with forensic research, Okay? There were 8 Satoshi Nakamotos, this was the only one who worked on computers. So, without even taking evidence into consideration here, it's already the guy.

Step 2, she asked him something about bitcoin, and she's pretty confident that he knew they were talking about bitcoin, and he said he wasn't involved with it anymore. Okay? Do you understand? The evidence is backing the forensics.

Step 3, someone at Newsweek has vetted this process. Did you forensically find Nakamoto? You googled his name and eliminated the wrong ones by cross referencing their careers/hobbies with the word computer? Check. Did you get evidence to back the research? He claimed he had knowledge of the bitcoin corporation. Check.

What the hell else do you want? Propper journalistic guidelines were followed to a "T", and everything checked out. Your hero is a poor train nerd who lives with his mom. Deal with it.

So, if you thought that you were allowed to do anything, but you had no desire to leave an 8x8 concrete cell which you were sitting in, it would be the same as *actually* being allowed to do anything?

So it's true that freedom is just a state of mind...

Well, I might be wrong, but I think he's objecting to the idea of a mandatory contribution, not contribution itself. A free market for taxes, as it were. Once you put a number on it (say 30%, from the previous example) then suddenly you have a group of people looking to spend it. Government agencies, in today's society. They try to get all the money off the books every year, which means spending a lot of it figuring out what to do with the rest of it, and wasting a bunch more of it on shit that's not really wanted or needed by anyone.

Now imagine the opposite example, where there is no requirement, and everyone pays 0. Would they just sit around waiting for other people to build the infrastructure they want? That seems pretty miserable, obviously at a certain point, having clean water and electricity in your neighborhood becomes worth more than sitting in a hot dark room with your savings. You will spend that money, and there will be a person eager to provide those services at a competitive rate, because there is no central agency guaranteeing him the work, and his reputation really does matter for repeat business. The job gets done in the most efficient manner possible, as it didn't require a committee approval, or balancing it against other projects on the books, or waiting for votes, or some other bullshit that wastes everyone's time or money.

Now the reality is probably between those two things, but I wouldn't outright dismiss the idea of 0% taxes being feasible, or even better than what we currently have.

Risk is not the only thing people are evaluating with bitcoin. To simplify;

If you could only choose from 2 investment options, one that paid 5% returns 95% of the time and another that paid 1000% returns 20% of the time, making that decision based on the risk alone would give you a flawed conclusion. (Not that this is representative of the situation, just illustrating that there are more factors to base this decision on than risk)

So while you may be going around warning of the risks, assuming we didn't take those into consideration because we've reached a different conclusion than you, instead start asking yourself what other benefits people might be seeing that you are not. I don't know of a lot of people in bitcoin that are not aware of the risks. Even if you explain it to someone who has zero exposure, they are going to start asking questions about risks, be it government regulation, or security, or what have you.

Wow, yeah. While I mostly stopped paying attention to his posts, as they struck me as yet another self proclaimed intellectual casting judgement in the absence of some fundamental understandings, this seems like pretty good justification for my assumption (at the risk of sounding hypocritical). Not enough time in my day to hear all these guys out. Nothing personal.

Pretty much. I finally did my homework on it, just in case. Read the description of how everything worked on the official website, and as a bitcoin user, there were a lot of unanswered questions and red flags left in my mind that I couldn't get any further clarity on from the site. I ventured off the site to read some outside perspectives, and eventually stumbled upon http://ripplescam.org/ which explained the things I had questions about succinctly, and exactly how I feared they might work.

To be honest, I don't see any advantage to ripple, as a currency. It exists on an infrastructure that reduces currency exchange fees as a result of replacing middleman institutions with distributed consumer risk (all the while collecting fees for "gateways"). It's still a debt based system, and a centralized one, at that. "Distributed" does not mean "decentralized", people. Please be very aware of that fact. If the government decides to shut down the company, then it's shut down. XRP goes to 0. If the company decides to close it's own doors, you have the same problem. They are also verifying their own transactions. Transactions that are based on a trust system.

While there are many flaws to ripple as a store of value, it still manages to market itself from the angle of seamless trades between currencies. Be careful with that idea though, it's something that is not unique to ripple at all. There is literally nothing standing in the way of a web service doing the exact same thing with bitcoin instead of XRP. Just connecting people and "gateways" on a trust network of mutual currency trade. That's not an exclusive feature of XRP, as they might lead you to believe.

if ripplescam.org is misrepresenting facts, and the official ripple site is omitting them, then where are users expected to get the info?

Wonder if this is the reason for the small sell-offs?

Edit:

I believe it says that Mt. Gox has 200,000 BTC of the 850,000 it reportedly lost.

Houbi is "Fire currency net", I believe.

Edit: beated.

Ah, I see now. Just a coincidence that was the headline that day.  

lol, I had the same idea.

"I don't know if you noticed, but I almost knocked him out just then."

lol

I don't think permabulls are rare here. Just not a lot for us to say during Panic/Capitulation/Despondancy trade cycles. I could post reassuring messages and long term outlooks here all day, that might persuade some people to hold, but really, I'd rather get to the bottom as quick as possible. It's going to happen either way. I expect maximum pain to come before market turns around, and I really haven't felt that yet. I can't really put a $ price on what that would be, but there's no shortage of effort being applied to find out. Perhaps busting below that 400 wall on stamp would do it.

I suspect that moment is approaching, as the "news" is being recycled constantly, and FUDsters are preying on these fears, in tandem with large market dumps that no longer make sense. If you held until now, there's probably more risk in dumping than holding unless dumping for market manipulation purposes. Let the dumps commence, and let the panic spread. It's the best cure for a BTC hangover.

You'll never get my bitcoins.

Welcome to the forum! (Unless you're an alt). You seem to be off on the right foot  

Well, I'm generally known for not taking charts seriously, like, at all. My illustration shows the price refusing to make a decision at "decision time", hence his (her?) utterance of "Nope" as he/she travels backward in price space time.

...obviously.

I miss the good old days. Posting one of my old charts for the long timers in here:

I missed it. Was the 400 wall smashed or pulled?

I'm getting a 404 at bitstamp. Anyone else?

You should be more skeptical of things like this.

Oops, I think you clicked on the wrong thread.

Heh, this JP Morgan Chase thing is fascinating. They are shutting down "high risk" accounts, which essentially translates to anyone not meeting the status quo, I guess. The definition of "high risk" is probably going to become really fuzzy soon (more so than now), as they realize that it's in their best interest to freeze pretty much any account. High balance accounts provide them with free liquidity which they can play with until the entire process is resolved, while low balance accounts threaten to take them in the red otherwise, and have their own maintenance costs associated. The best part is, it's all state sanctioned!

They've essentially made themselves immune to a bank run, at the cost of perhaps driving away some customers to the competition. But what are customers during a run on banks? Liabilities.

Nice!

edit: I bet forum activity and price volatility will have high correlation.

More rockets please.

OMG, I lol'd. Thank you.

Man, I realize that you're an intellectual guy and have made significant accomplishments in other fields, but I sincerely hope that the trust you gained in those arenas hasn't influenced people to assign value to your opinion on bitcoin. There's a high possibility (a certainty, if you wanted to use my opinion) that you are providing them terrible advice. I'll admit that it's generally healthy to approach things like bitcoin with skepticism, and people should be encouraged to do their due diligence on matters like these, but your conclusions go well beyond that.

This article is garbage. Sure you got most of the facts right, but you ignore a large part of the equation. The economy is all relative, and it's never stopped evolving at any point in human history. Bitcoin doesn't need to be without flaws to succeed, and it doesn't need to replace fiat. When comparing apples and oranges, pointing out the inconveniences associated with eating oranges does not justify sticking with apples. What if the apple becomes rotten and filled with worms? I'm guessing you'll happily peel that orange, not caring one bit how many rotten apples you could trade it for.

Bitcoin has flaws. There aren't many people with a deep understanding of the technology that would dispute that. What you're not taking into consideration is the fiat banking system has some monumental flaws that also risk its value going to zero if not addressed in time. The striking difference between the two is that bitcoin can be changed, copied, forked, and have services built on top it to address these things, while the alternative can only adjust the speed at which it approaches collapse. So you're correct that bitcoin, in the current form has near 0 chance of replacing fiat as a result of it's superiority and consumer trust, you're wrong that it needs those things in order to do so.

People here consider a money that is impossible to steal a better solution than empowering a central authority with the ability confiscate and return funds that they deem "stolen". Apparently there are some who don't think that's better, so it must be a matter of preference.

So often we forget to thank fuck.

You also forgot to mention your thanks.

lol, me too.

Ouch, that's painful to read.

I believe the first time it was on purpose, moving money to his Gox account. The second time was the mistake, probably picking the wrong address out of his payment history.

I would assume some kind of train.

Sauce?

I guess you can no longer use the tried and true excuse "If he's so real, why doesn't he just come tell me himself?"

Jesus Christ be like, "But watchwoord, I am real, you had me on ignore."

I seem to recall that BTC Guild was in a similar position once, and they simply adjusted their fees up as their hashrate approached 50% to encourage users to find other pools. This seemed like a great solution to me, but maybe some miners felt taken by it.

Are you suggesting that he is going to buy all the bitcoin?

Cheers! I used this as my opportunity to learn how to sweep a private key. Not as difficult as I thought it might be.

I used this site for the image above, and it worked fine:
http://zxing.org/w/decode.jspx

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.

Hehe, I don't know. That would be another layer of variables on top of everything else. If I were in a position to do that, it would take me a while to figure out whether or not it was worth the risk of doing so, and by the time I'd made that decision, the market is already sailing down toward 550, making my plan invalid. I'm not the smartest dude in this room though, so it's not inconceivable that someone was able to identify and execute that plan of action. Still, I'm not convinced that it's guaranteed to be a good play, even if they sold at the top.

Amen.

Haha, kinda true.

I'm admittedly perma-bull, but I like keeping my finger on the community pulse, so I don't ignore people. There is more information in what is being posted than the words therin. That being said, the only person I really considered ignoring on here is a bull troll. It took all of my willpower not to, and every time I read his posts, the words echo in my head in a super annoying voice. My biggest fear is that I might sound like that to someone else on here.

Haha, don't worry aminorex, it's not you. I actually enjoy your posts like, 93% of the time. Sometimes, I don't understand a damn word you said, but I'm still smiling about it, for some reason.

There will be news stories about millions of dollars in bitcoin being sold to investors by US Marshals, and at the same time, it will become apparent to people in this forum that those coins are not coming to market after that amount of time.

You guys hear something?

If we kick off a rally today, I'm going to feel pretty smug with myself. I just opened one of my forecasting spreadsheets and noted that I'd arbitrarily picked today as the starting point for the next bull run. No I don't have any proof or logic, just me and my obsession with plotting things in spreadsheets.

I'm going to come take your house and car, BUT!, don't worry, I will be depositing a fair amount of beads, slap bracelets, and assorted spices into an account in your name.

It's that exact reason that it springs up from time to time. Someone makes a vaguely religious remark, and everyone else can't contain themselves. It's a pretty terrible place to identify yourself as religious, so I'm not sure I have any sympathy for those getting dog piled in these forums on the subject.

As an aside, some people consider my "blind faith" in bitcoin to be somewhat religious. From the outside, we appear to be just another religion. I want to "save" people from pending financial Armageddon by leading them into the light of bitcoin. Surrender your earthly possessions to bitcoin and you will be saved. Have you heard of bitcoin?

lol

I think this is just someone firing up the volume engines. We can't take off (in either direction) as long as everyone feels fine with "wait and see". Time to force the cards on the table, and then you can make big moves with or against the tides. Doesn't every rally or crash start with an event like this?

We'll cautiously go back up, and then the same thing will happen again. Sharp drop back to 600 range. This will repeat several times until it no longer causes a panic and we enter full fledged bull mode. The last sharp drop will recover in less than 2 hours, and we'll know all the sheep are off the train.

I have a Circle account. Got my invite yesterday.

I went through my email to see if I had any kind of message indicating when I originally requested an invite, but if there was one, I must not have saved it. The demo video where Jeremy explains the service and demonstrates the website came out on May 16th, and I had signed up a ways before that, when all we knew was there was a new bitcoin service called "Circle" coming, and the website had exactly that much information. I don't recall how much time there was between the first announcement and the demo. Possibly several months.

I suspect this is one of the arbitrage start-ups that have become all the rage in recent times. I'm seeing these medium large buy ups and sell downs to the same value on multiple exchanges in close proximity.

Pretty cool.

I read an article about one of them recently (I forgot the source, sorry) that said they were on track for something like 700% APY doing this. That's good work if you can get it. I wonder if these guys have any special arrangements with any exchange?

While it makes everything seem kinda boring right now, before there were any major entities doing this people were always ranting about how someone should do it. You can't satisfy the Speculation forum!

I actually enjoyed the story. It reminded me a lot of the credit card story: Some guy wanted a better way to pay for meals out, invents a Diners club (credit) card. Everyone sings it's praises, and people find many more uses for the card, until everything is paid for with the card. Then technology passed it by and it was replaced by a slightly more... oh wait... No, it stuck around another 65 years...

Also, you left out the part of the Wright Flyer story where all Wright Flyer I's were equipped with a neural consensus network which constantly monitored the desires of their owners. Whenever a new flyer came to market, the Wright Flyer would assimilate any of it's positive traits, if the majority of Wright Flyer owners desired it to be so.

shhhhhhh.....


/whisper
choo choo

Unless it's Circle. Then it is instantaneous.

Woohoo, look at them go.

Hehe, yeah. Not banned, they just can't use them for making or receiving calls or texts, and they can't have them on or around their person. Big difference.

"Is it ignorance or apathy? Hey, I don't know and I don't care."
-Jimmy Buffett

Oh man. I laughed at a Fonzie post. Everything really is bizarro today!  

At which price will we enter CCMF territory?

I did some looking into it, and that's not all! Apparently she is "5 apples tall" and weighs "3 apples".  WHAT?

So a person... with a cat head/whiskers, who is somewhere around 64cm (2ft) tall, who enjoys baking and playing piano?

Also, an apple weighs around 0.15kg, so she weighs 0.45kg (1lb)? Is she made of clouds? This obviously can't be a person.

Myth Busted.

Also, buy all the bitcoins.

Was it always this way? I have fond memories of this place in the past, but maybe I've altered my own reality.

So... What is the point of the watch? Didn't people stop wearing watches because they got phones?

Okay, I won't disagree with that. I just need a reason that people are going to gravitate toward this thing to believe this will be it, and not just another google glass, or tiny phone strapped to my wrist that requires me to carry another phone. I'll admit I didn't watch the stream, but so far I haven't seen a compelling reason to consider the Apple watch.

I think this Apple pay thing is major good news that we haven't seen hit the price yet. It's like a rumbling in the distance, the thing we didn't see coming on our list of 2014 bubble catalysts. It's always that thing that does it. Hold on tight.

Personally, I don't think it matters if Apple adds bitcoin or not. We've been trying to sell the idea of secure mobile payments to the masses since the inception of bitcoin. It's too convenient of an excuse that people don't want to buy a device to send/receive these kinds of payments, nobody is supporting it, and why do I need it anyways?

Suddenly we have Apple stepping up to the plate simultaneously marketing the idea AND rolling out the infrastructure to make it ubiquitous. The idea that these efforts are in competition with bitcoin's success is incorrect. Ultimately from the end user perspective, you're going to be waving your phone around to pay for things soon. That's a reality. And ultimately you're going to be given a choice about how much fees you want to pay to do that. Even for people who don't understand or want to have anything to do with bitcoin, there will be intermediate services like Bitpay or Circle that can facilitate those transactions in the same manner as Apple, only using the bitcoin network as the backbone instead of credit cards, allowing for the exact same thing to happen for less fees. That's something everyone can get behind.

So, in my opinion, we can be sure.

Man.... I kind of feel sorry for him. Kind of...

Well, at least we know when this guy comes around on bitcoin, the technology has peaked. He's literally the last guy.

ruh-roh.

I recall this as well. It was a mistake, the block was mined by Asicminer, and the fee was returned to the owner.

I thought it was a place for shills to earn their paychecks?

Yikes:

http://www.reddit.com/r/Bitcoin/comments/2gvnhm/butterfly_labs_bfl_raided_by_us_marshals_today/

Does this mean you are buying again, or have been all along? I know you might have seen 10s of millions in profits last year from bitcoin alone, so in my imagination, you were just drinking whiskey for the last...uhhh.... 8 months?

Lol

Grats Jimbo, for having a screenshot of your post featured in a CNBC article about bearwhale.

Sorry about that.

The limit is the largest finite number.

NotLambchop is my least despised troll. Right up there with Blitz and Proudhon.

I think you answered your own question here.

It's so fucking gentlemen.

Oh man, we must be close to "Despondency" . Look at this forum.

Who's looking forward to "Depression?"

lol

Classic Blitz.

He's right. 15-20% is not hard to get at purse.io. Seriously, go try it.

That might be the case (it's really a mystery to me) although I find it more likely that it simply becomes a good buying opportunity for people with Prime accounts (no shipping costs), Amazon rewards cards, and/or affiliate discounts, or people who accumulate credit with Amazon Mechanical Turk or gift cards which are hard to liquidate otherwise. Essentially people are exchanging their discounts/credits for bitcoin.

There's probably some level of credit card fraud, or people who don't WANT to sign up at circle or the like for a plethora of reasons, or simply not intending to pay the credit debt, and maybe even some charity going on here, but I find all of these scenarios more likely than they are simply eating the 20% markup on coins because they can't find a better place to buy them.

There will also be party shrapnel. That's not nothing.

Haha. I like the cut of your jib.

Predicting bottom at 180 in the next 48 hours.

What? How did you determine the density of scammers among the bitcoiners? This is exactly the opposite of my experience with bitcoin and the community surrounding it. I've never been scammed by anyone here, and in 90% of all of my own transactions, I've opted not to use any type of escrow.

Also, the entire notion that a scammer would only accept a specific currency is ridiculous. A scammer will take whatever you'll give him. I get emails every week from scammers trying to scam, and I've yet to see one requesting bitcoin as the payment mechanism.

How are you keeping track of all the scams that happen with cash? I assume you have some very sophisticated tools if you're able to make this comparison.

Maybe you've been fooled?

Well, most of them are ignored because they failed to make any argument whatsoever. Just saying price is going to 0 over and over is not an argument.

Is there a price movement correlation with density of troll posts in this thread?

The posts can be bulltroll or beartroll. Does complete saturation signal a top/bottom?

Yes, always bet on nothing changing, ever, because as history shows.... oh shit.

Too bit to fail.

Haha, awesome.

I'm going to say yes, almost certainly we will.

There's some speculation that a big part of that dip may have been some erroneous code at bitfinex. I'm not totally up to speed on the situation, however.

Moon incoming.

Watch out guys! The last 24 hours looking pretty familiar!

Feels so strange to be at 266 again. Maybe it's the last time?

Exactly. I believe the 7tx/s figure is the average to fill a block (1MB) over the course of the average block time (10 minutes). If, for example there were no transactions for 9 minutes and 59 seconds, "Bitcoin" could handle 4200 tx/s.... for that last one second.

Man, the global economic meltdown is happening too suddenly. I wasn't ready yet. Also.... what's taking so long for everyone to go all in bitcoin?

Finex going after it.

I'm clicking through all the charts, going "I don't see it". Then I clicked 6 month, "Ohhhhh...."

I don't know what you're insinuating, and I can't zoom out any further from your post.

Beep boop boop.

Also available at https://www.theprotocol.tv/ if you prefer to pay in bitcoin (slightly cheaper, but SD).

A million dollars worth of coins is around 3600 bitcoins. That's 24 hours worth of mining, or the same number of coins introduced to the market on a daily basis. It's far smaller than the daily volume of any exchange, and even if you dumped them all on Bitfinex right now with total disregard, you might lower the price by $5 for an hour. So yeah, it's not a significant amount.

lol, finex going sub 200

Stop going up, I'm trying to get cheap coinz guys.

Man, I'm excited and I don't even know you.

Oh shit. What the hell is going to happen now?!?

Hey, since it's rally season apparently, I want some new bitcoin songs. Get to it, people who do that kind of shit.

Haha, a classic. I sing this in the shower sometimes.

Haha, remember when DDOS at Mt Gox was a thing? lololol   So stupid, but also I had a lot of fun.

Let's forego the "and back" this time....

Yep, China clearly leading. Saw it happen there a couple minutes ahead.

That's the one.

Sup guys. Consolidate or rocket this weekend?

Yeah... no coins left for sale at stamp is sort of a bad thing.

Would you say it was Hyper-jacked, though?

My wife just walked in and said she heard bitcoin was doing well.... on the RADIO.  What? The radio DJs talk about bitcoin now?

Hold your horses. We'll be at 1k soon enough.

Looks like nearly 7k shorts already closed since yesterday.

Shorts have been cut in half over the last couple days. Running out of rocket fuel. Open up some more shorts, guys!

We're here, it's just impossible to converse much with all these newer guys.

I heard there was going to be a 2015 bubble. Maybe you didn't get the memo?

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

Sold a few coins this morning that I bought at $220 for $499. Feeling pretty good about that now.

I think the bullish part of the story is that the million+ Satoshi BTC stash is locked in a Trust until 2020. If this turns out to be true, (and I'm leaning toward yes) That means there is no risk of satoshi coin dump for the next 4 years at least, which is something that we couldn't say before.

Just curious, but how did everyone get the impression that he's attention craving? I watched the videos and read the articles/emails and I didn't get that.

Right, but you have to compare that scenario with the one we had before it, which was that we knew nothing about the fate of those coins, and thus the market must assume that they could show up at any time. The new reality is that they could show up at any time after 2020, which is a more bullish scenario.

He talked about a wide range of topics, but he's also got at least 2 bitcoin related companies, and he has a supercomputer that has been modeling bitcoin scalability, not to mention that he's been a proponent for bitcoin since 2009 (publicly) so he's not a nobody and it's not hard to find a reason he might be on a panel.

I just logged on to these forums for the first time in like a year today, wondering if the whole thing had been taken over by all the ignorant trolls and newbs that drove me away.

It was a bit of a serendipity that the only name I recognized posted this link. haha

They don't always honor strike price. I know from experience that if the price moves against them, they will charge you for it or cancel your order.

Holy shit, you guys are still here.

Ha. Nice.

I was listening to the Proudhon song, and at one point in the video there is an image of all the forum avatars of the old timers from this thread. I remember being pissed that mine didn't make the cut. Then I was like... are those guys still there? Is Proudhon still here? He/she was calling bubble before anyone even heard of bitcoin, haha. Then I saw the video uploader was TheKoziTwo, who I seem to recall poured a shit ton of cash into Gox before it collapsed.... ouch. Hope he/she is still around.

Good luck with all the wall watching guys. I moved on to crypto twitter. Still HODLing.