Once the price falls to where it belongs (about a 90% haircut all-in-all, I wager, before staging a small recovery)
Are you serious? Based on what rational/calculation do you come at this number? I think it seems rational to want to buy something for only 10% of the price, and then sell it for more later  |
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Hi everybody,
I'm mining Bitcoins / Altcoins, and bitcointalk forum offers alot of informations for understanding crypto-currency, but it should nice to meet a few of Bitcoiners in my town. But I know nobody that's mining as me. And it's hard to always be bumped by friends who don't care at all about crypto-currency, I feel like an alien each time I talk about, that's boring.
What about to register on go-out website as dailyfriends.com for increasing the chance to meet each others ?
It might help if you say what town you live in? |
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I guess I will start the bidding:
0.04 btc for 4 TradeFortressBTC on Ripple
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can anyone send me one more ripple so I can play? (in fact, 0.1 should be enough...)
it seems that I now have 49.99999, after the client told me I needed 50.00012 to grant trust (I had 50).
I don't know how this 'money' could volatilize like this by doing nothing.
is this a bug?
Any time you do anything in Ripple, like sending a transaction or granting a line of trust, you use up a tiny bit of XRP. |
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1) Leave US access open, continue collecting that revenue, and maintain exposure to tail-risk shut-down event.
or
2) Block US IP access to the website, and greatly reduce the catastrophic tail risk.
I understand the sentiment here is negative. I would encourage everyone involved in Bitcoin to start playing the long game, and I'll leave it at that.
If people in the US do not like this, then they should be working to get rid of the freedom-crushing laws which caused this action to be taken. |
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If US decides bitcoins is a threat they'll be worthless overnight.
How could this current action not cause the price to dip to double digits???
You, sir, are an idiot. Look at the vast majority of historical examples and you'll see that this is not the case. The price of drugs did not go DOWN after government intervention, they went way UP, despite sketchy OTC availability situations. The price of education did not go DOWN after government intervention, it went way UP. P2P torrent protocol is in INCREDIBLE demand and is wildly popular, despite government intervention. Alcohol did not become less popular during Prohibition, even though you risked arrest and had to maintain secrecy going to a speakeasy. The government only was able to destroy e-gold because it was centralized and had a single point of failure. Gox is nothing. Gox is a poorly performing exchange that many people are hooked on due to liquidity (a chicken/egg problem) and need a kick in the butt to go elsewhere. This is the kick in the butt. Gox is not a single point of failure. Gox dying would be great for bitcoin. It only would crash to double digits because of idiots like you who panic sell because you do not understand how markets respond to government intervention/regulation. Fortunately, for the time being at least, it seems most people are smarter than that. i donīt think the drugs/alcohol analogy is correct. drugs i can use to get high. getting high is as basic a need as eating, drinking or fucking. try to roll up some bitcoins. (on the other hand... bitcoin did bent me over occasionally  ) But bitcoins can allow people to gamble even though their regional overlords keep saying no to gambling. So I think it is a valid comparison |
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april 2013: bitcoin is skyrocketing, the community can hardly breath due to self confidence, price goes to the moon, hype is all around, nothing can stop us, tomorrow we own the world, but then...
due to "success" mtgox server fails, thatīs all it takes: = panic all around, panic sell, C R A S H
may 2013: bitcoin is very volatile, a lot of people think it will be like in 2011 and go down, the community has no confidence, no hype, is bitcoin dead?, but then...
the us government starts seizing mtgox accounts = attack. = panic all around, but NO crash
what am i missing here? logic?
I don't think you have the cause-effect relationship correct for April. Bitcoin spiked and then crashed, causing huge jump in the MtGox order volume, which caused MtGox to have server failure. People are overstating the effect MtGox has on the market. |
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I think it's quite possible you'll do the same.
Indeed. There is no real need to name that unit. Just like there is no real reason to name 10000 btc, which is about halfway between 1 and 21000000; people do not write 2100 0000 total bitcoins, they write 21 000 000 total bitcoins. |
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Tried to educate myself OP, so far I've had not even one inkling of a problem with Mt. Gox, verification was not a problem and I've been happily trading ever since, my opinion is Gox is a good thing and when you're on a good thing, stick to it.
From a purely educational point of view, could you please suggest another exchange, where I, as an Australian, can safely and securely trade?
Take a look at WeExchange.co, (not com, that is confusing), I believe they are set up in Australia. |
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we need a really professional exchange , maybe bitcoin foundation should create one that complies with fincen and other legulators.
No, that would be centralizing things too much. Somebody should start a really professional exchange, why not you? |
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Yesterday I sold the little remaining USD I had on MtGox (for 9.09 mB/USD, not the peak but better than the 8.47 I would have gotten just before the Dwolla news came out, or the 8.84 they are going for right now, but I digress) and transferred my bitcoins away. I can only assume that there are other people who are likewise doing one last transaction on MtGox and taking their money out, this will sustain the volume there temporarily.
My question is: how long do you think it will be before the daily volume for MtGox is no longer the number one exchange?
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Ripples are not credit. They are an asset in its own right, with no counterparty risk and no inflation.
Eh, wrong. They can and will be created at the whim of the opencoin foundation. Simply that possibility is the reason why ripple will never, ever be close to as valuable as bitcoin is. It may gain in value somewhat for its token functionality within Ripple, but power to them. They need to monetize their efforts somehow. Even if there are no more Ripples ever created, they have value because they allow people to use the Ripple system. But it is apparently easy to lower the requirements within the system so you don't need as many ripples. So instead of buying 1000 ripples for a lifetime of running the system, now you only need to buy 100 for a lifetime of running the system. Thus by lowering the reserve requirements they free up a bunch of the ripples which people were holding, instantly increasing the supply of ripples available. It might not technically be inflation according to some definitions, but it ends up having the same effect. So just another reason that Ripples (XRP) are not as good for storing wealth as bitcoins, but that does not limit the usefulness of the Ripple system as a payment network and exchange for USD, BTC, etc. |
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Ripple focuses on credit, bitcoin focuses of assets, they are not really competing. What is good for Ripple is good for Bitcoin because Ripple is complimentary to Bitcoin.
Are you a Ripple/OpenCoin shill or did you just swallow their deception? I have noticed that this is their tactic for silently getting Bitcoiners to switch and then growing like a parasite side by side with its host to suck it dry. They downplay the role of XRP (Ripples) as mere "tokens" and "not a currency" while it is the only asset in the Ripple system that is not subject to counterparty risk. Furthermore, OpenCoin holds 50% of Ripples hoping to make a profit off them (this is what they stated in public), partly to fund development. I presume the same goes for the VC investors in Ripple. Any Ripple adoption will threaten Bitcoin because the Ripple currency is the only one without counterparty risk within the Ripple system. All other currencies have to be held with gateways. Furthermore, Ripples are required for opening accounts and performing transactions. In the longer term, there is absolutely no reason to prefer Bitcoins to Ripples if used within Ripple. Ripples are not credit. They are an asset in its own right, with no counterparty risk and no inflation. I am not a Ripple shill, I just think there is potential for Ripple and Bitcoin to be useful together. Ripples are not credit. They are an asset, but I do not really know how to evaluate their worth. So I am not investing in XRPs, I got a bunch free in the giveaway. That should be enough for me to use Ripple the rest of my life, and I am holding onto thousands of them just because I think sometime in the future I will want to give them away to my friends to get them started in Ripple, I do not plan to ever buy XRP. I would prefer to be paid in BTC, even on Ripple, over being paid in XRP, just like I would rather be paid in dollars than postage stamps. Holding BTC on Ripple, while not having all the same benefits of holding the BTC oneself, does retain some of the strengths of Bitcoins. |
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I liked Dwolla for the ease of shorting to my bank acct via ACH. Are there any other reasonable options for ACH to banks of small amounts of USD?
As has been mentioned before, if you buy bitcoins you can transfer them to CampBX or Coinbase and then get them sent to your account. CampBX works with Dwolla, Coinbase links directly to your bank account like Dwolla does. |
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Ripple focuses on credit, bitcoin focuses of assets, they are not really competing. What is good for Ripple is good for Bitcoin because Ripple is complimentary to Bitcoin. |
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I am actually uncomfortable with the way Dwolla is handling this. Why are they telling anybody who asks that the MtGox account has been frozen by court order? Isn't there some sort of client confidentiality? This seems to be just making MtGox look bad.
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This is very bad.
I used Dwolla exclusive for getting money in and out of MtGox. They were great and cheap as others have said before.
We need a US-based exchange to open up QUICKLY. This is not good news for bitcoins. It's only becoming harder to acquire bitcoins now.
Check out campbx.com? |
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Is this where we point out that S.DICE has been trading under its IPO price, while ASICMINER is still trading at about 15 times its IPO price? |
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So, you will put whatever the winner wants into your signature? When does the auction end?
0.001 mB
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ripple is a closed source premined coin that is centrally hosted and controlled.
the owners of ripple own half of all xrp. so it is quite an epic premine.
one aspect of ripple is that is has a "money is debt" system embedded. that is the "trust" page in the ripple wallet.
the other novel thing about ripple is the ability to embed exchanges into the wallet, which you should check out if you haven't seen. they call them "gateways" which makes no fucking sense to me.
i am interested in buying them to immediately resell for higher and increase my btc holdings.
The ripple people have said they will open source once they get a bit farther along in the project. Ripple is not mined, therefore there is no "premine". The creators of ripple control most of the XRP, but XRP is not meant to be an investment and you do not need very many of them. Just get enough to make it work and then ignore them. I like to think of them something like postage stamps, you buy a bunch and then you can send out your checks. So with 1 XRP you can send out something like 10000 transactions, each transaction can contain an arbitrary amount of BTC, USD, or whatever currency you like to use. They call them "gateways" because they allow you to move money in and out of the Ripple system. Say you have some USD and you want to put it on the ripple system for whatever reason (maybe you want to pay somebody using ripple). You first deposit the money with the gateway, then they send you some GatewayUSD on Ripple. You can then use Ripple to send those GatewayUSD to the guy you owe money to. Or, if you receive GatewayUSD on Ripple, you can send those to the gateway and withdraw real USD. So the gateway lets people put money in and out of Ripple, seems like a sensible name to me. But seriously-can someone please explain to me what Ripple is? Why do people want them? I have an idea, but I am looking for a concise explanation.
Are you asking what Ripple is (the system), or what ripples are (XRP, the currency)? It is like asking "can somebody explain what bitcoin is? Why do people want them?" Bitcoin is a system for storing and sending value, denominated in BTC, over the internet. People want BTC because they are worth something, and some people think they will be worth more in the future. Ripple is a system for storing and sending credit over the internet, denominated in USD, BTC, AUD, FAV, BER, etc, and also value denominated in XRP. People want XRP because they allow you to use that system, and they are worth something, and some people think they might be worth more in the future. |
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