That's a bit harsh to suggest that "no fee" transactions should "never" be confirmed.  Maybe sometime in the future bitcoin will evolve to such a state in which no fee transactions are not confirmed, yet at this point, that seems to be a long way into the future.

we are goign for 700 USD now guys!

The US elections should be pretty irrelevant to what BTC does: The policies are typically unaffected by the puppets elected, no matter what they've promised.

OK. That's even easier. If it's a legitimate transfer then he can send it in ONE step.

1. Wire the money from his bank account to recipient bank account

Rather than with Bitcoin:
1. Wire from his bank account to exchange (subtract fee)
2. Buy bitcoin (subtract fee)
3. Transfer bitcoin, or carry bitcoins using trezor (add/subtract market volatility, plus fee)
4. Sell bitcoin (subtract fee)
5. Withdraw from exchange to recipient account (subtract fee)
*various risks of total loss in most of the above steps

I didn't think it was possible for the MXN Pesos to get a harder hit, but I guess it was... http://www.xe.com/currencycharts/?from=USD&to=MXN&view=12h

A few hours ago 1 dollar was worth ~18 pesos... now it's over 20... wow. (edit: 20.5 now )

Bitcoin in finex hitting 730's.

Bitcoin is going up again, is it because of Trump?

I predict that next year, the world and markets will breath a sigh of relief that the U.S. elections are over...

....the markets will start to stabilize, and even to the surprise of all, start to move up....a bull run begins...

....surprising and shocking everyone, elation and euphoria soon setting in...

....jobs reports start sounding better, people finally getting back to work, the stock market back to rallying....

....companies doing well, everyone making money again, buying stuff again, starting to feel happy again....

....birds will be chirping, children dancing and singing, happiness in the sweet sweet air, life will be good....

....Trump really did it, they will say, really turned things around....


AND THEN OUT OF NOWHERE THE WORLD MARKETS CRASH HARD LIKE NOBODY'S BUSINESS, LEAVING EVERYONE INCLUDING TRUMP IN TOTAL SHOCK AND HORROR

#beprepareditsallabigliecrashcomingsoonprotectyourselfbuybitcoin  

 


India cut his ATM to delete the (big cut) cash in 2 days.
Egypte devaluate his money at 60%




Bitcoin ?
Always ON ... and no problem.

...
unless the authority seems to be abundantly clear that I have to count every cashing out as a gain, even though I bought back more than I sold.  Sounds like made up nonsense
...

You are saying something that kind of supports my inclinations,  yet on the other hand, we cannot really wish away the potential that there are actual gains "on paper" that end up being folded back into bitcoin.

Accordingly, let's say for example I bought and sold $100k of BTC over the course of the year for an average price of $500 (that is from coins more than a year old) and sold them for an average price of $700.  That would be 133.3 BTC sold and $26,666 of gain (on paper) ($200 x 133.3).  

That's also why I was suggesting, in one of my earlier posts, that if the amount of BTC traded were of a fiat value of less than $10k, then maybe it would not matter as much if you failed to report $2,666 in gains (on paper) versus $26,666 in gains (on paper)?

  Currently, my trading numbers for 2016 seem to be somewhere between these two (more than $10k but less than $100k), but if BTC prices appreciate more, we could imagine scenarios in which the gains on paper numbers become a lot larger, too.

If I traded all of those BTC on one exchange, then I would have never been considered to have realized any of the gain, but as soon as I cashed them out to my bank and then move them to another exchange, then I would have been considered to realize a gain (from the cashing out).  

On one exchange versus between exchanges kind of seems like a distinction without a difference (except maybe  it becomes more of a policing issue for the IRS to be able to verify what you are doing versus if they were to allow arbitraging).

For tax purposes, if I have "on paper" $26,666 in capital gains income, then that would be $4k in taxes for money that I never had used in any kind of way because I reinvested it within a substantially short period of time.

A donation of securities to a registered charity or private foundation does not trigger a capital gain.

If you sell an asset for a capital gain but do not expect to receive the money right away, you may be able to claim a reserve or defer the capital gain until a later time.

Day traders make a living buying and selling stocks, and because it's their job, capital gains taxation may not apply.

A day trader is a person who makes his living buying, selling and managing these transactions. A person who works in the investment industry and makes frequent short-term investment turnovers, such as a stockbroker, for example, may be considered a day trader as well.

Looks like a rounded top on huobi, heading lower?? (5min chart)

It's for your own good, obviously! Don't want you hurting yourself thinking too much /s

On topic, I'm waiting for another high volume drop/rebound off ~$700-$710 before we start moving up in any major way.

You are correct but people are forgetting one major thing; Bitcoin cannot go mainstream with just bigger blocks. You need something like 1gig blocks to make a shot for it, the internet cant even handle that. Hardforking from 1mb all the way up to 1gig is just a no-go zone, Lightning will fulfill that job because you really want to have high capacity when ''monkey see monkey do'' situation arrives.

Bitcoin is booming all over the globe, what will happen with the memepool with to low mb blocks if millions if not a few billion off people want to use the network? We will be seeing millions of unconfirmed txs that will lead to a more panic situation than now.

If someone doesn't like Lightning well youre are not forced to use it, you can always use the normal payment option like today...Also lots of private keys coins will be lost when millions of sheeps start to use Bitcoin. The more payment options ore layers there is the better. Look at Roostock they use another layer for there Smart Contracts using Bitcoin for security just like Kim.com with his BitCache!

Segwit followed with the Lightning network is the best possible update Bitcoin can have. Those unlimited guys are very short sighted they screaming for bigger blocks no matter what the consequences are

I want to see Bitcoin beeing used by many as possible, not because for the $$ (making $$ is sweet but it's not my 1st priority ) but to free youre self from the Zionist Jew Fiat Debt Slave Pyramide Ponzi Banking System.

Not sure if I remember correctly, but I seem to recall price being down last black friday, while this one had a brief $9 pump.

who dumps 450 btc on stamp in this run-up? why? trader? idiot?

I think we'll blast through $800 straight to $900-$1000

But what if you think you are selling high and a week later your sell price looks low?

$800!

Yeah, still warm-up imo. As long as we have no other hacked exchange or some regulation fuck-up we are good to go.

That would be crazy and is exactly why I kept a few btc on the side for safe keeping but I did sell out most of my btc. I hope they are happy in their new home.

its actual a very interesting situation at the moment. lets see who will win, either stamp rising or china coming back.

Are you serious cos my prediction is that the price will be at round $1300- $1800 first quarter of this year

Ah, makes sense. I always overlook fiat problems ha. Still a wild price difference

Looks to me like a massive dead short is trying to escape their position ... $10 spread on the BearSwamp and 30-50 arb with other USD exchanges.

I trust itBit more who have a chartered NY Bank Trust and doing decent volumes now.

Miners are just selling to cover their costs thats all. Doesnt matter if its chinese miners, swedish miners or american miners. They all behave the same.

Trading volume in china is known to be fake, mostly exchange-bots.

Its just a nice story that everyone likes to believe and media likes to sell newbies.

Well I decided to move/sell 3.6 btc via coinbase.....going on 2 hrs unconfirmed...ugly...ugly....
had standard fee included (or always was that way in the past) so....busy busy...the btc transaction elves they are...

says fine at coinbase end.in that is showed and is unconfirmed there too..but still annoying....may drag out a bit huh?

prepare for a dump in price before I can cash out..the crypto gods hate me (you have been warned..I broke the price rise)

(or so it seems most times I try to cover my butt somewhat on such rapid rises w/some buffer to $$$ on such a rise)

RSI on the hourly flashing red flags. A healthy dip might be on the way.

It's gonna be a long year.... <sigh>

We will still be > $1500 by years end though

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

Yea, $0.25 fee for only 2 inputs and 2 outputs and I still got a stuck tx: https://blockchain.info/tx/f981065b98d55be4a86f12158f1066cbbb737b01f3ad71fccfe88984d163e405

Ok, Lets not freak out just yet...

Just a couple of weeks ago.. I saw the BTC market cap (i hate that term!) pass the old ATH 13,6B

Then it passed 14,15,16, (then the hit articles started coming) 17, 17.5 - touching Gold now.. passing it.. 18 Bn.. 18. something billion....
then a correction.
All so fast..

Then back at 16.75 now.

What's the problem again?

That dump just killed me. I  got margincalled for 1 btc. And now I bet its going to only go up. So shitty.

It might go sideways as the Chinese love 8

Did you ever say anything but up? :p

ooh the exchanges in my country are truly the worst, they're always more expensive than those in USD since my currency its not as easy to trade.

In whats up to the price I see it holding well, actually, do you think its really falling that much more?

? ? ? The only manipulation I see was the original dumping to start this dip.

The manipulators were more than happy to sell a lot of coins for over $1100 to start a panic, and then make a killing from the fools who sold for under $1000.

Maybe we can chart meme magic this dump over..

.88 ... satoshi confirmed..

So what you are saying is that if that red candle doesn't confirm in the next 30 minutes, it is bullish?

You were saying?

PBoC says "No more fake trades!"

http://m.finance.caixin.com/m/2017-01-07/101041525.html

https://twitter.com/cnLedger/status/817550313636798464

oh man, this is horrible to watch

hehehehehe...

If you are gonna b in with the lillie fiends, you cannot be a fair weather friend...

You gotta have a bit of a long term vision and willingness to HODL during these tough times...

NOT just be CCCCCCIIIIIIIITTTTTTEEEEE during the pumpies... am  I KORECK?

BTC tx was fast that time..

Margin bought 5750 and I'll let it liquidate if it so decides..

If I'm wrong I guess I didn't lose that much since it's dead.. If I'm right, who knows..

No I can't relate. I'm all happy. Why the sadness? We all made money didn't we? Now we can rinse and repeat.

Will it ever leave this juvenile boom and bust stuff behind?

Well, I've just set a limit order to spend the last of my fiat at 500.  Now I'm going to go to sleep (it's 4am here) and try not to look in on Bitcoin for the next three months  

Goodnight  

Yeah, right...


Define:   "low"

We don't know what is "low" yet, do we?    Surely, I would like to see this reverse... but I don't know the target.. seems like it may be into the $700s or lower, but there may be some reversal at some point before reaching $700s? 

Maybe below $600 is low?  That is where we started this rally, more or less in early October.

imho up we go again, judging from MACD and volume bars on the 4 hours chart.

(edit) and BTW:

https://www.investing.com/currencies/btc-usd-technical?cid=53082

nice jump there!

then what?

haha ok then.

I just love when bitcoin goes up - gives me a head rush. Such a downer these past couple of days.

This.
Why the next pump will fall short. All the peoples that feel they missed out on the last peak will dump as soon as they can.

Did okcoin go down for a few minutes or something?
See the flatline?

I can only imagine it must have went offline or froze or something..

I almost forgot over the last couple of years just how nauseating bitcoin's price movements can be.

Oh it's long term alright, in fact I was buying up Dash for over a year before I bought any Bitcoin to keep. Let's say I'm hedging my bets as to which one is the better long-term investment. .   I hope they will both enjoy mainstream adoption and a long prosperous future and I want very much to be a part of that. But the high profit margin on my Dash has also been very reassuring during these funky Bitcoin dips.

It doesn't make me any less passionate about Bitcoin. It's just that I was passionate about Dash first and so far it's done me very proud 

I did a lot of research into as many cryptocurrencies as I could after I became intrigued by a Litepay option on the website for an online service I use. The first thing that caught my attention with Dash was the privacy angle and the instant transactions. As I read more about it, yes, the scalability stood out as an important factor as did the ability of the Dash network to make decisions quickly, thanks to the Masternodes. Dash appeared to be already future-proofed with the ability to adapt with agility to changes and challenges. It seemed to have anticipated the potential problems that Bitcoin might encounter and dealt with them already.  Two years on I still feel excited about Dash's future and I can't wait for the release of Evolution to take the mystery out of crypto for the average Joe.

But after a year or so of using Bitcoin as a means to buy Dash (The lack of fiat gateways is still a huge limiting factor for Dash) and also to transfer money from my UK bank to my Euro bank faster and cheaper than the banks can do it, I got to know Bitcoin better and to respect it as the Big Daddy of crypto. I had a chance to buy in low after the Bitfinex hack and then I was hooked. The lack of scalability with Bitcoin does worry me, as does the apparent impossibility of its network to actually agree on anything, but it already has the adoption and market cap that at the moment Dash is only dreaming of.  And these rollercoasters are certainly good for an adrenaline rush 

Sorry I think I got a bit carried away there 

based on what facts you say this about tonight?

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

I don't see too much going wrong, probably more sideways consolidation? We've already had our major correction / dump a couple of days ago.

Are you currently referring to covering shorts or longs?

I just buy as the price goes down.. unless it looks like it is going down in extreme fashion, then I attempt to cancel as many of my buy orders as I can and then maybe buy some of those at a lower price, if I am able to get to a computer while such a thing is happening, which happened when the price dropped from the $1090s arena down to $890 within about an hour. 

Luckily I was alerted early during the $1090 to $890 drop because the extremity of the drop became apparent in less than 10 minutes into it.  But if you cannot get to a computer, then you just gotta live with whatever you have preset... and maybe attempt to regroup afterwards.

You could be correct, and I am just saying that we cannot assume $880 to be bottom...

I am definitely prepared for up from here because I already bought a lot of coins from this dip, and I had not really sold very many anyhow in the rise to $1140.

I only use $600 as a reference point because that is where we started in this particular bull run, without any meaningful correction (I think we may had a couple of 7% corrections).  I also think that this most recent correction of approximately 29% should be sufficient in order to get prices to proceed back upwards; however, there could also be a certain level of bear desperation and willingness to operate at a loss in order to keep bitcoin prices down while they have a bit of correction momentum.. to attempt to use it some more iin order to attempt to continue to drive prices down.

In any event, I am not really wedded to any scenario that I describe, and it could take several weeks, even months to resolve this disagreement about price.. and therefore we could have quite a bit of up and down in the $600 to $1140 price range (even if $600 is less of a likely scenario, but it still does seem to be in the range of feasible since we have only been moving upwards from there since the beginning of October, remember?).

I don't mean to poo poo technical analysis because you may be correct about those areas of support.

I am just going by the mere fact that it has only been a short period of time since we were there at that price point, so therefore it is reasonably within the range of possible prices in the short term (week to month).  We already know that Bitcoin has a historical tendency to overshoot expectations or reasonable expectations... and really there can be a combination of factors that allow prices to get pushed that far down, including someone who has covertly acquired coins over the counter and who strategically places them (or even moves them to exchanges at opportune times).  Sure, there are also tools in which you can push down without even having the actual coins... but sure, maybe the bears are going to run out of coins, it is possible, but even though $600 seems on the extreme end of possible, we were there a bit more than 3 months ago (as I continue to repeat).  

Do you think that I am wanting or hoping for $600?  Currently, I have about 94% of my holdings in BTC, so I only have 6% available to buy on a price drop, and maybe in reality only about 1-2% because some of those funds would be likely be used up with my orders already set to buy in the event that the price goes down.. so by the time we get to lower $600s, I would only have about half of that fiat left (and maybe only be willing to put half of my half into buying at that price point).

Anywhoooo.... if we get a few more tests of support, even at $812 and we stay above it, then it may become even more difficult to get below it.  So far we have only had one test of lower $800s (sure we do not have to have another test of support, but it is not unreasonable to think that it could happen in the next 12 hours or even within the next week).  

Good morning Bifcoinland.

Still scrapping over $900 I see... currently $898USD (Bitcoinaverage). That's good old $888 at Stamp.

Do we get our third green daily candle in a row today?

when the fud spread like china ban bitcoin.

it is time to take position on buy side.

My number 1 rule, always works, since btc = $200

Well, if we don't start going up today, we'll go up tomorrow, and if not tomorrow, the day after..... I've decided to take the "it's all cool" approach 

its coiled so fucking tight! 

SegWit adoption for LiteCoin.

the two parties must found a consensus in 2017!

I don't consider that being a bad thing. Because a surveillance system implemented in any exchange implies a sort of insurance that the government is giving bitcoin. Meaning anything that could happen to the money of the people in that exchange will be protected or excessive measures will be taken to ensure the well being of their users.    

But it could also mean that China government will pick up the tab and will try to minimize the dumps when crashes happen and BTCiTcoin will not depreciate more than 10%, less than that with time or keep it going sideways till there is more real price discovery by real new buyers and not speculators that just throw with cash at the screen to artificially pertain to the illusion that some might actually "buy in to the new world" per say.

They will probably turn bulls on the west exchanges and find ways to dump on the east ones!

Are you ultimately of the belief that they are running out of coins?  Fewer and fewer coins to sell and fewer and fewer folks willing to give up their coins.. maybe until the upper $900s?

Then they can rage quit and join several of the other butt hurt trolls, until they decide to get back in the $3k territory... hahahaha

Sensible TA without dinos: https://twitter.com/Uruncles/status/818965950619930624

For what?

We could be getting faked out, but the pressure seems to continue to be upwards...

On another related topic, I am still getting a bit anxious about Stamp... It's been down for me for about 6 hours.. maybe a little more...

I know others have access and trading is still being done, but it is strange and I wonder how wide scope is the outage because the price still seems to continue upwards in spite of some folks, including yours truly, being closed out from trading on there for several hours.

Actually when I was starting to get my panties into a twist (even though I don't wear such), I noticed that I could get the site to come up on my phone.

So whatever, I dickered around a bit, including restarting my computer, and then it was working.

It could have been a coincidence that it just came up at the same time that I restarted my computer, because I have three computers, and the site was not working on any of the three computers until in the past 10 minutes when I started dickering around a bit more.






I could see that working out quite well.   

First, I would send you 20 pages of instruction regarding BTC trading strategies, and then I would get assurances that you are going to follow those basic BTC trading principles. 

You would tell me that you understand the instructions completely and that you will follow the their true intent and meaning.

Then a few hours later (or maybe a couple days later) I would ask.  What happened with the 14.68294002 bitcoins that were in my account, and the $1,476.41?

You would proclaim that you were in the spirit of the whole instructions thingie majigie, and that you were on a kind of karma roll with experimenting including variation of my ideas.. that should have worked out perfectly to cause a lot of praise from me and to multiply my BTC by 32,000%.

I would then say.. "what the fuck happened then because That makes absolutely no sense?"

You would respond that what you were saying makes a lot of sense, and I just need to be able to think differently about what is possible.  hahahaha

Yeah.. You are a completely trustworthy psycho, and I would trust you 1,000% with my private keys because I have known you for nearly three years under two crazy-ass screen personalities.

hhahahahahahha   


Actually, I could probably trust you more than some peeps that I know IRL....         

Is your offer to supply trading services only open to Bitstamp, or could I use those services for any BTC account that I have?

Half my standby fiat just went back in at 798.5 - if I could have got into Stamp earlier, I might have nicked it lower.

I hope you're right, Sir - next resistance is probably 5000 CNY level - below that...? Jeez!

If you are investing long term why do you check the price daily? Price right now shouldn't matter to you. 

Well it seems to be holding very well a 800-780. But how could we know

Just one more leg down.

i think we will know better when pboc exits btcc as well as trading resuming in china and india

Doubt that.
Dead cat bouce up to about 825$ and down again.

Hopefully this gets rid of many chinese traders

Maybe this is all Fake News about China and banks... designed to drive down price, buy cheap, and drive price back up by saying China Bank is ok with Bitcoin  

exactly i have not slept past 20 hours. continuous watching of the graphs from all exchangers on different screen. it seems that only huobi graph is manipulating everywhere. this graph used to be the highest now its the source of freefall. its interresting to know how many people are still holding and how many have abandoned the ship. i feel a major part of " i am still hodling" posts are mostly people who have sold and are now praying for a rise. r people who are so stressed that they dont have any nails left to bite.

there is a huge manipulation from huobi. i am guessing like someone pointed out earlier that they are crashing the market so that their activities look " on point" which also means they have manipulated a lot of the pump and dump recently.

the chineese regulation is certainly something to watch but i feel we are in a "bubble bust" once again and this time it will take a lot of time to recover back not even to the ATH but to stable $800 - $900.. forget about crossing $1000. the way the graph is appearing right now does not show a sign of correction and not even something stable for a few days. every 6 to 10 hours there is a $60-100 drop in the price..

all we can do is wait and watch. and all i can say to those who bought higher is to remember that we have seen fall and rise. just hold on your coins and dont panic sell, it will make the market more frenzy and crash more. i am holding 10,000 bitcoins currently, (which i can sign a few 500-1000 btc addresses to prove that i am still holding and not selling or panicking)

its high time we take the market away from the chineese manipulators.

let the revolution begin.

Stop pretending that the present technology couldn't handle large blocks.

Perhaps the solution is to do both (blocksize increase and off-chain LN type deal)

But you can't just do one, or the other. Core has refused to compromise over and over, they refuse to raise the blocksize to even 2mb which pretty much everyone agrees could be very EASILY handled.

Core has shown they have no leadership skills, no vision and are motivated primarily to their own self-serving egos. They do not serve the greater whole. Furthermore, they engage in a deceptive campaign of censorship and other shady tactics to force their own side to "win", this has needlessly damaged the Bitcoin community itself by refusing to even allow certain discussions. The community has been effectively divided in this way. Can you even quantify the damage that has been done to all of us as a result of this?

You can ignore it all if you want, but it will hurt you in the end.

  Is that the latest keyword for BU? Or would you be happy with 2MB block+segwit?

Sounds as if you do not have a large enough float.. whether that is BTC or cash.

I don't usually conduct the trade on the exchange until after I have already locked in the profitable trade on Local Bitcoins or directly... and that is that I have actually either received the bitcoins from the guy or I have received the fiat from the guy.

To do that, you have to have enough of a float that covers the full amount of bitcoins or fiat that you are trading and usually a bit more because of transfer times and other cushion issues that sometimes can get the money or the BTC in their proper locations and set up for the next trade.... that transferring money around can be a bit of a hassle and sometimes cause additional costs - that tend to be lessened, somewhat with having a decent float (and even then, it may be a bit cumbersome to manage with some unexpected costs, here and there)

Hal Finney, November 30, 2010, 09:46:21 AM

... Message from the future ...

I do. I uploaded over a terabyte of data to other nodes last month.

Obviously if blocks are bigger, the amount of data users need to share to keep the network running will increase.

I have very expensive, top tier internet from a major ISP that I recently purchased specifically for running a Bitcoin node. I had to gimp my maxconnections with more typical home user speeds or my internet was unusable for other tasks like surfing the web.

No. Less than half that.


I don't mind in the slightest. This is why I run a node. I know some people want the advantages of a full node as their wallet but can't keep it up 24/7 because of the demanding requirements.

If a Bitcoiner wants to use a full node as his wallet, I think he should be able to do that with relative ease. But, no, that particular use case has little to do with decentralization. I've been over it before but I think the network should be robust enough to function assuming every government on the planet has banned Bitcoin outright and force the ISPs in their jurisdictions to block Bitcoin traffic entirely. Because, that's what will happen. Those in control don't want to lose control. Money is the most important thing they currently use to keep themselves in power. Inflation directly feeds the welfare/warfare state.

Once the decentralized global mesh network is up and running (which I think is going to be the most important technological advancement for the future of a free mankind), we can figure out how much data we can share over it and increase up near that barrier.

Bitcoin is, first and foremost, monetary freedom. All decisions should be made in that light and we should err on the side of caution every time.

All transactions do not need to be censorship proof in a world where censorship proof transactions exist.

Just another data point, since my node has been running bmon for almost exactly 1 week. With 512 connections, it's had a throughput of 2.49TB. The router is a VM on the same physical machine and has a total throughput of 72.26TB in the same time.

I think the competition for deploying gigabit fiber is going to outpace the demand for block space, especially if lightning and segwit get activated.

https://en.wikipedia.org/wiki/Deep_packet_inspection


I don't know where you get the idea that I want to "impose" anything on anyone since I've been asking big blockers to make a block bigger than 1MB for ages. The two sides of this debate will never see eye to eye. A hard fork is the only solution where both sides end up happy. As soon as BU makes a block bigger than 1MB this debate will end.

If you wrap the protocol in SSL and run it on port 443 then it is indifferentiable from HTTPS.


A hard fork will end the debate over the technical details, but it will start the debate about who gets to be called Bitcoin.  That's where it will get really ugly.

Why not just call it as it is??

Think majority can probably agree to a >1MB block...as in a 2MB block. The problem is that's not enough for a BU crowd and really never was. They want their Unlimited block size. Think at the minimum it's misleading to say you just want a >1MB block when in reality you want a whole new system for a "dynamically adjustable blocksize". And that will never happen

I can't believe we're back on about block size again. My new compass is $700. I can't die holding bitcoins.

Who's there? 

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

I remember the US briefly banned shorting during a crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

And if we don't? If we think of them as a tool, sort of like hiring people and asking half of them to dig holes and the other half to cover those holes up just to prove some work was done. If too many line up willing to do that you reduce their compensation, if not enough show up you raise the salary. But now these people keep showing up and asking that they control how many holes they dig. And then hire shills to run ads and try to influence your decision  

You gotta consider this trade volume matter in context, which means zooming out a bit to either weekly or 3 days.. you cannot really look only at daily volume or time intervals shorter than a few days in order to get a decent grasp of the situation... that's my thinking.

The mere fact that trade volume may decrease for a few days is not indicative that the price battle is over or that there is some kind of manipulation that is about to take place or major change in direction. 

A temporary drop in trade volume for a few days is merely an indication that some of the parties are regrouping.. which could take a few days and even trickle down for nearly a week before they resume the battle (in a more voluminous way).

Maybe. The rising price/falling volume makes me a little nervous about which direction the next move will be.
Normally I wouldn't care too much but I get paid tomorrow for 3 months work and it's going to make a difference  

The big three Chinese exchanges (OKCoin, Huobi, and BTCC) have all disabled margin trading for all clients onshore in China. This is in response to the recent on-site “inspections” (aka Ride The Red Dildo) by the PBOC.

With margin trading eliminated, the question remains what happens with existing leveraged positions. If the PBOC forces the exchanges to unwind all positions, that will negatively impact the price. The CNY spot book of each exchange is a combination of leveraged and unleveraged traders. The ratio of leveraged longs to shorts is of interest. If the net leveraged positioning is long, that means a combination of leveraged shorts and long sells were matched against them. Given that we just witnessed a new all time high in the CNY price of Bitcoin, I estimate leveraged longs outnumber leveraged shorts. In the event of a margin call, as the exchange unwinds both sides, the net effect will be a drop in price. The magnitude of the drop depends on the size of the imbalance.

30% initial margin (3.33x leverage) was the normal amount of margin offered. The collateral will be exhausted if the price moves 30% below or above the entry price of longs and shorts respectively. Given that the exchanges themselves lent funds to speculators, should the price move further than 30% they would suffer a principal loss. For illustration purposes, assume that the long / short ratio is 100 XBT / 50 XBT. The 50 XBT shortfall was provided by long sellers of Bitcoin. If the book was unwound, 50 XBT would need to be sold into the order-book. Hopefully, the order-book liquidity is sufficient such that the average execution price is no lower than 30% (the initial margin) below the average entry price of all long positions.

However, now that margin is removed, the actual liquidity will be substantially lower. If the margin positions were to be unwound, it would happen at the worst possible time. Some white knight whale would need to fully fund purchases of Bitcoin as it was dumped onto the market. Last week the BitMEX Bitcoin / USD 100x leveraged swap, XBTUSD, traded a record of nearly 100,000 XBT over a 24-hour period. The actual open interest fluctuated between 10-20x lower than the recorded trading volume. Given that trading fees are 0 in China, I estimate open interest is 100x lower than recorded trading volumes.

The big three exchanges routinely traded around 5 million Bitcoin per day during the recent pump. Using a 100x divisor, assume that each exchange’s actual open interest of loans is 50,000 XBT. Also assume that longs represent 60% of that total, and shorts 40%. That leaves a net 10,000 Bitcoin of required selling on each exchange. 30,000 Bitcoin in total must be sold across all the exchanges. The differentiations between the exchanges is quite small, which means that they all have the same customers. It is also the same handful of market makers responsible for all the liquidity in China. As trades happen on OKCoin, liquidity will be removed from Huobi and BTCC simultaneously. Therefore, we cannot sum all the liquidity offered by each exchange.

30,000 Bitcoin is worth 268 million CNY. That is not chump change when you consider all purchases must be fully funded. If we take the most liquid order-book (OKCoin), how low would the price go if 30,000 Bitcoin were dumped?

Each day brings new developments on how the PBOC is constricting business operations of Chinese Bitcoin exchanges. The Fear, Uncertainty and Doubt (FUD) will depress buyer appetite further decreasing on-exchange liquidity. The pace of the forced margin call dictated by the PBOC will determine how far the price dips. I haven’t performed any extensive analysis on the order-book depth but my finger in the air estimation is a 10% to 15% drawdown from current levels. Hence my short term price target for Bitcoin is $650.

If and when the PBOC forces a China Bitcoin margin call, it will be an amazing buying opportunity. Without leverage, the only marginal sellers are Chinese miners. After the plunge, the marginal demand for Bitcoin will be higher than the supply offered by miners. The demand for a store of wealth not controlled by a government or central bank remains strong in China. I reiterate my call for USDCNY of 9.00 by the end of 2017. That would take Bitcoin substantially over its recent all time high of 8,895.98 CNY. It is still too early to tell whether the unwinding of margin positions will be orderly or chaotic. Much depends on exchange CEO’s fluffing skills. Get on your knees, boys: for the sake of Bitcoin.

reprinted from Bitmex Crypto Trader

Bingo!




I am still amazed that you seem to flip flop more than a game of pong.

QnVsbCB0cmFwIGNvbWluZywgbmV4dCBydW4gdG8gfiQ5OTAuIElLUg==

Yes, look back to the last 18 months as plenty of time to buy sub $800

No idea but you have people that don't even know how Bitcoin works typing "Bitcoin is the new gold", then I post that it's not possible for Bitcoin to defeat metals as a store of value on Exter's pyramid and post is insta-deleted.  Posting the simple objective fact that Bitcoin does not make metals obsolete is considered heresy.  This is an economics speculation thread.  Whether Bitcoin can or can't defeat gold or silver's market cap is part of the equation in quantifying price.

Well it will be one camp or the other. They will either ignore the problem with some verbal talk for the exchanges to fix stuff with no penalties or issues or imho
they will slap some restrictions on them in some manner to throttle them. Myself I think it likely will be a stern talking to and a wrist slap.

But the reaction of even the 'stern wrist slap' likely will drop the price. So need some $$$ on hand.

If nothing at all comes from it then I will want the $$$ set aside for moon,moon so I can run the bubble up with the other lemmings.

(good to have silly hobbies/goals)

I just found this website.


It looks like it has been down for about two hours...

No wonder.


http://www.isitdownrightnow.com/blockchain.info.html

The link that I gave was just to provide the status of the site... The site seems to be back up now, but my wallet still is not loading... maybe I just have to wait a bit because they seem to have acknowledged also that the site was down for a bit of time... hopefully it gets back up and running soon...

Trump gets to be president in about half an hour. I don't expect the price to do much immediately afterwards. He can't start changing policies until after the weekend.

I really don't understand this thing wi th Trump.
I watched the show now and was good to watch him saying we will give power to people, when he say we not only transfer power from one president to another but today we transfer power to you to people.

What is the relation of BTC and Trump compare to price??

In a day or two I'm thinking that 860-870 will be retested, then hopefully bounce from there into the 900s.

Except you gotta throw the self-dealing, narcisisms, attention whoring, bullying behavior and the attempts to be shocking, contrarian and unpredictable in there... so I am not sure about whether you can really either pinpoint him or to suggest that he is anything that is positive, except to the extent that he is likely to contribute considerably to chaos (whether that is a good thing, seems questionable

goofballs likely destroying and redistributing public value to themselves and friends  
...
currently in charge of the nuclear arsenal of the usa

yeah... we are little internet buddies.   hahahaha    


In the end, I do kind of think that the short-term price of the orange-headed monster is actually priced in, but surely there are going to be some likely market shaking occurrences in the coming months, and since the specifics are not currently known, it is somewhat difficult to plan ahead regarding BTC price direction based on such quasi-known unknowns.. except to attempt to some kind of current and ongoing protections for price movements in either direction.

It would be nice to see another shot at the ATH in the coming 2-3 months, yet currently we are only a few (maybe four) weeks into the current unsettled price range of $800s to $1100s... so it could take a bit of time to break one way or another out of this quite broad range... no?

I don't remember the exact number, but I think it's something like 60-80% of international trade is in USD.  A lot of that is probably from the oil sales and such.  Unless the US prints a lot of money or foreign countries switch to denominating trade in other assets, it's very difficult to bring the value of the USD down in relation to other garbage fiats.  That's the whole catch with being a reserve currency, you're required to export more currency than you bring in (a trade deficit and implosion of domestic manufacturing).

The only way Trump can "make America great again" is to destroy the dollar, China style centralized devaluation, print dollars to infinity with hyperinflation, or some other such tactic.  Some people have theorized US currency would be switched into two different units with a new domestic only dollar.  Such a tactic would likely only help the scumbag jewish bankers implement the SDR to take over the world with the SDR as the unit of account, though.  Then 1st world nations would descend into poverty as slaves of the IMF/BIS.

That news isn't even new.  I mean I read yesterday or the day before something from PBOC talking about how they believe cryptocurrency is good but the "emission should be controlled by the state".  So I mean, all they really want to do is make a govt slave coin that has nothing to do with Bitcoin at all.  I'm not even sure how that would be bullish.  If anything, they would probably ban Bitcoin after they make their govt slave coin.

That's funny cause actions like these cause the exact opposite reaction in me. Like every time there's blatant spam attack some BU supporter hilariously attempts to claim that it's normal organic growth. To a point where they lose all credibility and i find myself automatically starting to assume that it's shilling. Not that it can't be organic growth just because there's so much attempt at disinformation as if someone is trying too hard

I doubt that difficulty has anything directly to do with fewer transactions going through.  The more important metrics seem to be how many blocks are being processed per hour and whether those blocks are full or not.  I still stick by my assertion that such a sudden spike seems most logically to be a spam attack.

There's a 1000 BTC buy wall at $870 on Bitstamp. Some good buy support there.

Wouldn't some kind of FUD or something have to cause such a downward spike so quickly.

Well said, maybe it's best for me as hodler to not look at the price constantly and maybe forget about it for a year or two.

Still waiting for $860?

This just about sums up exactly where I am now - I've got fiat waiting on the sidelines and btc in equal measure, just don't know what to do except hodl..  

No.

In a democracy the will of the majority is being forced onto the minority.

With bitcoin, the minority can alway just split off and do their own thing.

Even though I think that you are an adorable penquin turned martian, it is too bad that you are spreading around nonsense.... and also attempting to distract from seg wit as a robust solution that brings lots of great and innovative tweaks to bitcoin.  

 Many of us should recognize that bitcoin unlimited is largely nonsense, lacking in testing, and does not resolve any current issues, at least in terms of providing additional robustness to bitcoin - in the sense that bitcoin is likely to be a target for many years to come of governments and/or financial institutions that would aim to undermine bitcoin..  and seg wit would be a good solution to seal up various potential vulnerabilities while BU would create additional vulnerabilities, while not really resolving anything that is currently necessary of resolution.

I am also of the understanding that seg wit is a much better solution for a lot of matters and should be the next step, rather than rushing into BU when there does not really appear to be a need for it, not at the moment.. and seg wit is a better next step (at this time).

I can tell you why Roger Ver...

Oh gawd ... when did this place become infested with the BU idiots again?!! FFS.

It's a walking disaster, a true shit show in terms of network systems thinking and an even worse fuck-up in terms of software implementation.

When will you guys grow a brain and at some point and leave that fucking huge shillfest mess behind already?!

No wrong and wrong again ... any miner who runs BU >1MByte is wasting electricity and resources on every hash they do ... they are buying tickets for a lottery that doesn't exist.

BU is a radioactive mess, anyone who touches it is getting burned and sick. In a way they deserve it, but assholes like you who shill for BU deserve a special place in BU's hell of its own making. You should set up a BU mining farm, to show us all how dedicated to the cause you are ... pit all your money, time and resources into the biggest losing proposition in bitcoin, do it!

Word!

Too bad they are using Bitcoin-Mainnet as a Testbed for thair so called "alternative implementation" piece of shit.  

Sorry but Segwit has been tested excessively on Bitcoin Testnet and an seperate network...

and it does not even introduce such serious changes to bitcoin like BU does. BU changes the consensus mechanism, maybe the most important part of bitcoin ...

So, what are you waiting for? 

Then make it happen by following your candidate, and let everyone happily do so.

You can even support both candidates if you feel like it, unlike in an election. How cool is that?

Most Core developers but also many experts outside the Core community believe that it's important we keep nodes relatively cheap to run in order to keep the most important aspect of Bitcoin which is decentralization.

That sounds exploitable to me, these things can be gamed if you let nodes or miners set the limit themselves. Let's just first safely increase the limit through Segwit and see from there. What's wrong with doing that?

You're just being irrationally biased now.  Everyone knows metals are more fungible, more anti-fragile, and less counter party risk.  This means Bitcoin can never dethrone metals as a store of value or hope to compete with them on Exter's pyramid.  If you're acting as a settlement layer, you're attempting to compete with metals as a store of value and Bitcoin CANNOT do it.  This means Bitcoin has to derive value more from raw transaction flow and being a payment processor instead.  

This is why I think Bitcoin probably doesn't have a value proposition without large scaling.  The lightning network claims to be able to do that, but I'm not convinced it can do so in a decentralized manner when economy of scale already forces centralization in the base bitcoin network in the first place.  Bitcoin did not "solve" the decentralization problem.   Bitcoin is a centralization problem waiting for someone to solve it.

As for solving that centralization problem, to do so you would likely need to engineer it so it's impossible to practice usury in bitcoin.  The only way I can think of to do that is either unprofitable PoW (which probably can't work in practice), or by some really exotic system of decentralized captchas where anyone attempting to solve blocks requires manual human intervention and can't be automated on cruise control via CPUs as I talked about in the thread below.

You cannot have decentralization without engineering bitcoin so automated usury is impossible

https://bitcointalk.org/index.php?topic=1700073.0

Whether you believe "god" is a person, quantum fluctuation, whatever, metals are a blockchain created by "god"; bitcoin is a blockchain created by people.  The blockchain created by people can never compete because it will always have more flaws or side channel attacks that render it useless.  I have a feeling anything blockchain related will forever be a Rube Goldberg machine that claims to accomplish some type of task, but in reality fails to accomplish that task (decentralization) while doing it an extremely complicated manner.

Make Bitcoin Great Again on his red cap, isnt that a cool move from Patrick?

It's only another $12 to go before $1000 and its been gradually creeping up all day. It might slowly carry on creeping up after $1000.

Nice analysis. 

In other words, if you cannot fight them, then join them... 

And what exactly might that be? $945 - $899 -$700 ?
People would like to know...
I want to know.
The rollercoaster ride isn't over yet now.

I realize this is your thread, but I believe you are jumping the gun here.

bitcoin market behaving like typical bitcoin market...taint nuthin but a thang
so here's my prediction for this date next year (ill quote this post in a year to see how close i am)


 feb 9 of 2018 will be  ... $1850  ( fyi...just pulled that # outta my arse from watching price for past 3 years...and  i'm a hodler)

What's on? Your site promotion?

There would be an official announcement if the Winklevoss's had it approved and it was starting.
More then likely on their Genesis exchange.
That's what coinbase would do.

Wild theory: people getting their money off the Chinese exchanges and joining Bitstamp/Bitfinex/Kraken?
Western exchanges are approaching 1000$ with the Chinese stuck at lower prices.

Exchanges with "more normal" withdraw services are priced hundreds Yuan higher.

But take care of something, we've deals with top-notch financial institutions, website, logo ... etc. ?

Are they in for losing their credibility easily ?

I understand that it's only social media, but why they didn't wait for the hearing at the 11th then create that account unless, in a way or another, they are sure they will have the ETF operated ?!

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.

Wild theory indeed... but something weird seems to be happening at stamp... Last couple of hours someone has been using 15BTC and 30BTC bids to push and pull the price a little bit... right now placing them a full 2 USD above any other bid, its pulling the price up to 1004.

Due to my staggering lack of experience, no conclusions   just observation

PS: first post, been reading along with you guys for a while, thanks for the useful info in the last couple of weeks

PPS: the 999/1000 USD psychological effect was pretty evident as well, like killerpotleaf said

I just dont understand why the price is not moving at all. Anyone have any input to why its just sticking around 1k? Its making me nervous lol.

wild theory

999.99$ looks considerably cheaper then 1000$ ( subjectively speaking )  poeple buy 999.99 and the price moves to 1000's and they stop buying because to LOOKS more expansive this causes price to drop  to 999.99 again and the cycle starts over.

the market ITSELF is manipulating us   

From time to time, we get stuck at all kinds of price points.. you are reading too much into it if you think that $1000 has any significance beyond the fact that it just happens to be where we are at currently... and it is not a bad spot to be - even though there is certainly some dispute, too from some who think we should be above and others who think that we should be below.  If one side prevails, then we will move off of this spot in either one direction or another...

Okay so I'm quite convinced that the trend is gonna be bullish... but at the same time I'm expecting more dumps bottoming out a bit lower than the last one (around 960-970)... what are you guys expecting

anyone else getting nostalgia from $32?

shouldn't we be worried about a double top right now? isn't this what all the tea-leaves warned us about?

I got a bunch of work to do tonight. Submit grades, fill out a fellowship app, and record music... but each time a stamp ATH is set I am taking a shot

Give it up with the propaganda, it's really sickening. You guys with your BU have shit the bed big time by trying to block natural open source development with political shennigans and now you don't know how to clean up the ugly mess. There were no reasonable "community demands" that could have been accommodated within the engineering constraints. Demanding that the 747 flies to moon on your way from NY to London is lovely but it's not happening in our lifetime. No one in Core is "being obstinate" they are simply saying it can't done like that.

Peter_R is a complete charlatan, I wouldn't let him design a doorlock let alone network system engineer a centralised monetary system.

Bitcoin is under a Trust Attack: https://medium.com/@lukeparker/the-trust-attack-a6241a08a9cd

It's ugly, $1188.

IMO, much of this can indeed be blamed squarely on those (core developers and miners) who just cannot seem to get their acts together and actually solve problems.

And they keep saying Bitcoin is strong.  Mmm-hmm...

I would not be so sure about that. The hashpower distribution seems to be dangerously skewing to bigblockers side:



Actually, all it now takes is to persuade a couple of big Chinese pools to change their signaling from "8mb" to BU, and BU activation threshold is almost reached.

Actually, pools control the blocksize.

Exactly, but who has the control over block size other than the pool operator. P2Pool?

I came here because I was interested to read the stories of many of you fellas in respect to bitcoin price analysis and predictions.

Instead, I see lot's of BU nonsense.   


We see a dip yesterday from nearly upper $1200s to mid $1100s and then a return to mid $1200s.. and now a drop to upper $1100s.  This all seems to be related to uncertainty either way regarding the direction of any possible ETF announcement, and folks seem to be kinda raring to go, no?

Of course, some have pre-emptively struck in one direction or another with their belief about what the outcome is going to be.

HAHAHA, you are funny today. This is going nowhere but down.

I think that, personally, I am only putting Seg Wit at about 40% for passage.

I don't really have any insider knowledge, and maybe I am just going with overall sentiment - following the polls.


Regarding timing, your guess of tomorrow doesn't really seem likely to me, but what the fuck do I know?  I was thinking either Friday or Monday, but do we really know the past practice?  Monday is the do or die date, correct?  So a few days before that would seem to make more sense than the actual final day, so maybe I am undermining my own hypothesis.. and maybe Thursday is a good date for the announcement?

You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd

13 MARCH

My my, look at all that compression.  It's like someone trying to push an inflated beachball deeper underwater.

Zerohedge is wrong there are no more delaying tactics by law the SEC can use, either deny COIN by close of business March 13 or let the rule change pass by default.

950 EUR should be the bottom i think