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been thinking about this, I think the rally was too soon, not sure sell off was over,
I doubt this is going as the buyer wanted, I also think this mystery investor(or investors) will have a stop loss, he will be watching the market with more interest and fear than any of us at this moment, if it looks like the sellers are going back to single figures he isn't going to wait for the potential freefall from 10 to 5 hoping it holds he is going to undo that 150k(or whatever) buy, using those bid walls in the 7-10 range, if he can catch them.
seem fair?
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I think that was the intention, is our little free market learning quicker and quicker?
if we do catch on to the professional trader strategies they will just leave the market I think. our ability to be manipulated is the only reason they are here.
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It's almost as if they want the price to spike right away. If there is a plan behind this, it might be short-time trading. E.g. buy in a flash, people mentally accept the higher price for a bit, sell slowly and as invisibly as possible for profit. Wait for correction, repeat. Why didn't I think of that?  (Truth is, I know the idea but can't afford it. This probably only works with 100k USD+, so someone pulling it with safety against fluctuations needs 1M USD play money or something -- don't have that, so I can just post the idea in an attempt to spoil others' fun in case this is what they actually do.) Any other theories why someone would want to buy in so visibly, with such sharp price fluctuations? Not exactly a cheap move there. It does look like a trading strategy, perhaps some professional investors fluent in creating fear and confidence playing with us and our free market, we saw a week's worth off decline undone in a quick rally last time, S3052 said we had just broking an upper trend line channel(13 something at the time) and prices were about to soar up to 20, confidence was high, bid walls were plenty, then huge swooping sell off ending at fricken 5's So i'm not as confident in the market after a huge buyer moves it anymore. |
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will this hold though, investors caught off guard and frightened by crash may see the pile of bids around 9 as a way out, or not, so interesting times  I have no idea what the price will be tomorrow  |
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think a "CHAOS!!!!" thread might be better
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→ → → <- This is where I buy 300 BTC
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hehe predicting the bottom is the real game now, I think we will probably see more declines, some people were expecting a quick bounce back rally today(thinking money is coming in ect), if Tuesday passes by and no rally appears, I think sentiment will change, not the end of bitcoin, but the reality that this sell off isn't over yet and we will test some lows again, and more people will either cash out or just trade out to buy back lower, I think(hope) 5-6 will hold, but honestly panic is hard to predict. and everytime you test a support level it could break right through  causing more panic... |
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I don't think its ever been consistent, IT happened a few weeks in a row a while back, and people noticed, then people just kept the idea going talking about the weekend dip's like an urban legend or something, and without checking thats its not consistant or predictable at all anymore, some of our biggest rally's were during the weekends.
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It's the first time I have voted down,
I think we are in for a big drop, Think we need to hit a low that lets everyone know the bottom has been found, before we can move on
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Wasn't expecting to wake up and see this, to be honest. I thought we'd be in the 5s, at least. Hmmm.
I think chodpaba predicted a fast drop to 5's then spike to 9-10 then the real drop to low single figures in the time series analysis thread. |
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Warning: fopen(http://...@127.0.0.1:8332/) [function.fopen]: failed to open stream: Connection refused in /var/www/britcoin.co.uk/jsonRPCClient.php on line 132
that's not good, very bad timing for problems  |
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(proof that someone lost his wallet) good luck with that I have no backups.. honest, the only copy was stolen can i have my insurance cash now?  |
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it's better this mybitcoin thing happened now rather than later, I didn't really know how popular online wallets were to be honest, Finding out it could be as much as 100k btc gone was a surprise to me. But the upside to this is, of all the ideas sprouting up around bitcoin this online wallet crap needed a reality checking kick to the balls most of all, because it would have kept growing, imagine in the future an online wallet company got so big and trusted that it had a substantial percent of all coins in existence(yes people WOULD do that, deepbit..) then *poof* its gone! theft/government or fricken tsunami, cause doesn't matter, your coins are gone because you all gave up control and created this centralised point of failure for yourselves, a company being trustworthy isn't even the point as things can be lost due to a variety of problems however well intentioned. it's an unnecessary risk it's a costly lesson for those who just lost coins but a good lesson none the less. since I started mining last year I have always secured and encrypted my own wallets (+backups), and try to minimise the amount my coins are exposed you can't stop it 100% or you couldn't spend them, just like cash you need to hand over the bills at one point, the few times I had to sell some coins (a small amount on britcoin) it went well, but I was still a little nervous during the process, and I was in an out quickly, no holding funds or coins online for more time than needed, because the truth is, if something goes wrong and I lose my coins it's my own fault for trusting them with them. because that's the point of bitcoin, people taking control of there own money, With that mentality(which a quite a few us us have) the idea of permanently using one of these online wallet things always sounded insane, bitcoin's main features are being decentralised and having direct control of your money(we all know that) so the question is, if enough people use things like an online wallet and make a certain company big and "trusted" and create a potential centralised point of failure whilst simultaneously giving up the control of there coins, why are they using bitcoins at all?, why not banks or paypal or credit and debit cards? just trust them with your money, they're even regulated.. It's people not securing there own coins that has created most of the bad press, making things seem much worse then they are, causing public loss of confidence, Some casual news headline(inaccurate) readers still think bitcoin itself was hacked and is now worthless because people can make their own "counterfeit" coins,(yes I read that on another non bitcoin forum) bitcoin is working perfectly, the protocol is fine and running exactly as intended, these online wallets and insecure websites you just hand your wallets and coins over to and then they get "lost" is a separate issue. Imagine a real wallet full of cash criticised the same way as bitcoin, "So i gave him my wallet, bulging out the sides with cash it was, and then, you're not going to believe this, HE RAN OFF WITH IT!, so insecure! these wallets will never catch on, definitely not secure enough to put cash in AVOID!" just ignore the actions of the wallet's owner and blame the wallet. that's the news cycle were in, they ruin it for the rest of us. sorry turned into a rant there |
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I have reset the poll again.
Vote now. Thanks for your opinion.
Up?
Same?
Down?
Sorry, I'm not going to participate in your polls anymore. You have stopped providing updates to the public, so I see no reason to provide you with my sentiment. It probably won't be missed, but I'm disappointed by your greed. hehe, that's actually a good point, sorry S3052 |
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It's so funny how most people are fking clueless when it comes to math.
The 50% threshold is a STATISTICAL threshold and has no real meaning since an attacker could already with say 40% of the entire hashing power have enough of a statistical chance to realistically try to attack the integrity of the blockchain. When a pool has 50% or more it just means it easier to do then if it had 40% but nothing really changed.
Remember, it still takes 6 confirmations until a transaction is deemed valid, so even if someone has 50% of hashing power they still only have 1.5625% chance of getting 6 blocks in a row!
If a pool had 40% that number only goes down to: 0.4096% which is only about 4 times less likely to happen but already a very real threat.
As you can see, it's not a big deal, because the only thing that having so much power allows you to potentially do is confirm fraudulent transactions which becomes increasingly harder to do with increasingly more confirmations. It was already possible when deepbit had 30% or 40% or 45%, the only difference was the difficulty of pulling it off.
how about when deepbit is 75%? or more? how large a percent would you be comfortable with? do you have a maximum number in your head based on the stats of likelihood of success? |
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very few people think he will personally try to double spend, it's not in his interest, but he makes it possible for an attacker to do it, online or kicking in his door in the "real world", lots of people would like bitcoin to go away, but it's security and decentralised nature make that hard, a loss of confidence in the bitcoin protocol due to a double spend is the best attack against bitcoin right now(think of the 1000's of headlines), yet people still don't think deepbit would be a target for some reason, I honestly think it would take a real attack for people to even believe the threat is real at this point, right now nobody cares about the fact that gaining access to 1 room could publicly compromise the security of this apparently "decentralised" bitcoin network,
if it happens, parity with the $ will be a fantasy.
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can we ban this guy and then keep his post as a sticky as a warning to others thinking about posting something this shit on the forum, thanks. |
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it would help bitcoin enormously, there must be a huge market for people that don't want porn officially linked to them(CC statements), and sex toys I suppose, just need to ignore the under age bitcoin user problem,
also its not the most positive news angle, bitcoin = drugs hackers and now porn! you heard it parents, get your kids involved with bitcoin today!
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they decided to keep the "always available, 24 hours a day, Safe and Easy. " on the main page for some reason.
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$900? wtf i hope it can be locked to 2ghz...
For someone who has a cooling radiator/system already, these should be very tempting... if you have the money obviously. These are not double-wide and take only 1 slot... You can fit ALOT of these on some motherboards. They will run in low temps and will be quiet. You can OC the crap outta them in this config I think... Would like to hear from anyone who has something like this with these 6990s already going... I cant help you with 6990 water info, but I have 2 5970's watercooled using the razor 5970 waterblocks, 50mm triple radiator with 3 http://www.scan.co.uk/products/120mm-silverstone-fm121-%28white%29-dual-ball-bearing-case-fan-plus-2400rpm-pro-use-hi-end I run them at 964mhz @ 1187mV getting 1.6gh over both temps are 40c~45c cores and 70's on the vrms I also have a single 6990 with stock cooler (much better designed and cooler than stock 5970), 6990 hits 890mhz and temps stay in the 70's pretty easy, and gets 0.78gh, never really tried to push it higher. I don't think the 6990's need water as much as the 5970's. |
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while we're waiting, how cool would it be if the next difficulty level started with 1337 ? this is our only chance for it! on the way up anyway... ... ... is it back up yet? |
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