I sold almost everything now  Just some BTC in cold storage and some S.DICE shares left. Didn't expect to have that much fiat so soon. This escalated really quickly.  Anyway, enjoy my bitcoins whoever bought it. Hopefully it will go still upwards, I don't think many early adopters with decent amounts of bitcoins are still in the game and new hands look strong enough not to sell anytime soon. |
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Hit 48 already geez
Could it be that certain players don't want the price to break 50 just yet? The same thing seemed to be going on when the price almost hit the 32 all-time high. My theory is that MtGox/CoinLab want to postpone a breakthrough so it can coincide with the launch of their operation in North America. That would look pretty good from a PR perspective. On the other hand, it might be just a coincidence and I should leave my tinfoil hat at home. 50$ is a psychological barrier. Once we get through, next stop is 60$. But 50$ is a pretty strong number  |
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good thng is that due to the nature of the bug, Gox was forced to close bitcoin deposits, therefore not many bitcoins were sold in panic. Now hopefully new users will not get scared by bitcoin problems and will continue buying at > 50  Meh... there were tons of coins already sitting in Gox accounts. It's only a small fraction of the coins that appear in the order book. There would have been enough coins to go around for everyone... the massive dump and crash just didn't materialise. heh, how do you know? I keep in Gox acount just very little (coins i want to sell in near future), rest is in my wallet and cold storage. I don't think many people trust Gox so much that they keep coins there. Gox account can be fed with BTC very quickly (usually just a little over an hour), no need to wait couple of days like for fiat transfer. But maybe you have some crystal ball and you see those huge piles of bitcoins sitting in Gox accounts  |
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I'm having an issue viewing the chart on any of the assets. After about 10 seconds the scale of the Y2 axis changes to be the same as Y1. It ends up scaling the line graph off the chart area. For assets with high trade volumes like G.SDICE it also causes the browser to become unresponsive for 20 seconds or so. Using Firefox 19.0.2 A script on this page may be busy, or it may have stopped responding. You can stop the script now, or you can continue to see if the script will complete.
Script: https://bitfunder.com/assets/js/highstocks/highstock.js:8 Hope it helps. +1 Both in my laptop and PC, using Firefox. +1, chart page with S.DICE loads very slowly and eats 100% of my CPU power for like a minute or so. It's getting worse each day |
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good thng is that due to the nature of the bug, Gox was forced to close bitcoin deposits, therefore not many bitcoins were sold in panic. Now hopefully new users will not get scared by bitcoin problems and will continue buying at > 50 |
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We pay a small fee, or just kill off s.dice until we can get a better fix.
A small fee will more or less kill off 90% of s.dice transactions anyway.
If you kill S.DICE, you will kill bitcoin. S.DICE has attracted many new and wealthy users to bitcoin. We don't have much else in bitcoin economy (just miners and hoarders speculators). Bull. Various company/stock "share" scams are not the bitcoin economy. That's just what the pirate investor and pass-through operators wanted people to believe. GLBSE is now gone and was barely a blip. I would be extremely careful with S.DICE and other "shares". IMO, shares are worth about as much as the paper you could print them on. Hoarding, speculating, and operating services are the main activities which add value to the bitcoin economy. But every attempt so far to do deposits-for-interest has resulted in either lost or stolen coins. I'm not talking about any shares I'm talking about gambling industry that is a important part of bitcoin economy. Lots of people are playing Satoshi Dice and gambling industry as a whole is interested in bitcoin thanks to S.DICE. If some people want to kill Satoshi Dice because bitcoin is unable to cope with high transaction volumes than bitcoin has no future as a currency; it's technically inapt. |
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We pay a small fee, or just kill off s.dice until we can get a better fix.
A small fee will more or less kill off 90% of s.dice transactions anyway.
If you kill S.DICE, you will kill bitcoin. S.DICE has attracted many new and wealthy users to bitcoin. We don't have much else in bitcoin economy (just miners and hoarders speculators). |
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influx of new users may stop which will cause slow downwards trend; I guess 50 is still possible but from long term view without new users we are heading down
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blockchain fork didn't hit the news yet, there may be massive sell off soon. What was the all time high again? |
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by recent more intensive adoption bitcoin started to hit some of its limits. I expect more problems in the future if bitcoin continues to get more and more new users aboard. It's still beta software and not prepared for large transaction volumes.
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only 7 unclaimed shares here; so this comes without a hooker |
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A fast rise will undoubtedly lead to a correction eventually, that is clear. It would defy all market behaviour in history if it didn't. However, the 2011 situation was different. First of all, the rise was pretty much all hype based on the idea of this new cryptocurrency. There was no economy to speak of, except Silk Road that had just started. There were literally only a few Bitcoin companies in the whole world, and merchants such as Alpaca Socks accepting bitcoins. Then the hype went down, and security problems ran rampant within the community, leading to a total crash.
We might be seeing a correction, but that is different from a total crash. Totally different. The Bitcoin economy today is 10 times more mature than it was during the 2011 hype. We have dozens of Bitcoin startups all over the world. Silk Road is huge compared to what it used to be. Bitcoin is becoming widely accepted online, for pretty much any service one can imagine. We have VC's and Hedge Funds starting to invest in bitcoins and Bitcoin companies. Security of Bitcoin exchanges, while not perfect, is at a very high level compared to the past.
Fear of a larger crash is, at this moment, entirely unfounded. It's the definition of FUD. A large majority of market players do know this, and they're simply figuring out how deep the correction will be. The backbone of the economy becomes stronger every day, leading to a higher bottom price. This doesn't mean we don't have significant corrections, the market can still go to an overdrive. There is always the point where it's too much, regardless of where we're at, but my personal opinion is that with what is going on in the economy, any price below $50 is not a bad entry point for buyers, unless they're thinking super short term.
Now this one Hedge Fund or whatever they are (making bitcoin accessible to more traditional investors) bought themselves some coins (using 2.5 million USD). I don't know when they started the acquisition, but it makes sense it was in January, no? Now theses dudes also offer to short bitcoin. What keeps a smart contrarian investor to use them to short the shit out of bitcoin at some point? Ok, speculation-time: What percentage of the rally was due to them, how many coins do they have and how hard would shit hit the fan should a customer of them borrow the coins and sell them? looks like loaded and his customers to me. |
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So the bank of Satoshi Dice cannot be broken like the one in Monte Carlo?
I'd though of starting a casino site but was terrified of the possibility of going bust.
I guess if you have deep enough pockets you can weather the unlucky streaks and always
come out ahead at the end of the month. True?
The bank can always be broken given enough of a statistical anomaly but as the volume becomes so great the probability of a consecutive number of days ending up losing goes down dramatically (i.e. 30 days). So SD's deep pockets in relation to the maximum bet help keep the casino afloat, but the betting volume is what assures consistent profitability. It seems to me as though SD has both the pockets and the volume to never have a losing month from now on (in relation to their maximum bet), so I am making that prediction now. So far in March, SD is around 2000 BTC in loss There's always possibility that someone will find some exploit and make SD go bust, especially some competitor. It's a risky business - gambling. |
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Aloha,
Acknowledging its been a while, I could spin some elaborate drama filled story but really was waiting for a more favorable price to buy the coin to pay you guys back with, which turned out really well.
At this point while the list is not fully verified it seems unlikely anyone else is coming forward. I'm going to send their coins anyway and if you dig this thread up after finding you never received btc because you didn't respond or give glbse an address you actually control (wtf people?) then I'm sorry, you had plenty of time.
Looking at daily pps earnings in 14 day blocks for each difficulty since Oct 3rd I get to about 0.036 per 1mh/s. Unless someone shows a problem with this math I'll make the a payment of 0.04 per share (the simplified calculation already favors you in a number of ways, I'm rounding it up as a gesture of good will) later this week. To be clear this is to cover the accrued mining income (at least what it would be if the BFL FPGA still worked properly).
Given the apparent agreement of 0.05 per share 'buyback' I will follow up with another payment to cover that next week.
Cue Rejoicing/Lamentations
Bond out.
So the total payout per share will be 0.09 BTC? If so, that's OK with me. |
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the big whale from last month who spent a lot of coins on S.DICE has disappeared, so profitability will probably go downwards. To sell at 0.6 is a great deal for someone who bought at IPO prices.
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looks like this dump and recovery was orchestrated for people to believe that the buying pressure is high and the price will go to the moon. I feel some people will get burned. BTW, I'm not bear, I'm actually running some bots and this volatility is awesome for me |
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Now it's a bit like, bulls are obviously out of ammunition, but bears are so scared that they haven't made a move.
This really doesn't make sense. A true bear would have 0 BTC to sell now. Really, the bears are out of ammunition. I haven't seen a lot of +3k dumps in the last couple days. Are there people lending coins to the bears to sell? Now watch me eat my words and jinx this run. I think more and more people are now expecting price at 50 USD We're into bubble and then a big crash |
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So, what's next steps. Will you pay at least outstanding dividends for now? You have all the info you need.
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Down...
Meh, its only down a little. We could be plateau-ing here for a bit before we move up again. I think its likely we'll have support at $19.5. If not there then $17.7, but I don't think we'll go that low. Only 4000btc to get to $17.70, after about 25,000 gets dumped  How did you get that 25k btc dumped? Was it just volume of all transactions? (bought and sold)? Just an estimation after the initial 10,000 dump and the following sell-offs. Looking at the wall pic I posted earlier it might have been between 15,000 to 20,000 sold. It was a lot though It was not a lot, if that's all the ammunitions they have. 10k is not a lot considering there's in average 3600 new bitcoins mined each day |
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hopefully the whales have still enough money to drive the price back above 20$  Wanted to milk them a little bit more next week. |
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