The only thing missing is the one thing I wanted to know as soon as I saw what he made: what are the rules for verifying price quotes and how can we trust the sources not to manipulate the signal for their own gain? If you can solve that problem, you're golden. lol that's already part of the ripple protocol |
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What happened to the usual weekend dip? I tried to day trade it and now I'm stuck in worthless depreciating fiat. Good thing it was only one coin, one I bought for $17.00 ;-)
You've been around long enough that you should know not to do that unless we have been trending down for the week already. In other cases it is too risky precisely because people do it anyway. Bulls know this and will ramp it on the weekends when they have control. I guess I'm too much of a contrarian. I bought that coin on the way down from $31 in 2011 (along with a few others). I was selling the whole ramp up from $350 to $1200 and buying back on the way down. My biggest mistake was taking my profits in fiat instead of BTC. Stupid dollars. What am I supposed to do with those? Wipe my butt? Exactly. Any fool could have made USD profits in this market the past couple years. If you can't increase your btc, don't trade unless you need fiat or are looking to exit the market. Next: The inevitable collapse of hubris. TM |
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Here is what might happen with China, their goverment and the implications on Bitcoins longterm survivability:
On Jan. 31st BTCChina has the withdraw deadline for money on the exchange, and there are signs that they are trying to circumvent that using Voucher auctions.
They officials are probably right now keeping a close eye on the companies exchanges and if they take the actions required of them. So far none of them seem to take it serious enough and they seem to go double down.
The Govt will then probably not only close any other accounts associated (like this Hunobi CEOs private bank account) but also seize the assets.
Next on the list are Bitcoin payment processors, like Bitpay, which given recent statement are a prime candidate for not only a forbidden business but also the great firewall. E-commerce using Bitcoin becomes next to impossible in China at this point.
This then sets the precedent for much more goverment intervention into Bitcoin, and once the chair-poopers get wind of how interconnected the Bitcoin infrastructure really is, how easy it is to set up a money laundering operation mining Bitcoins commercail Bitcoin miners are next, as well as ASIC producers.
The winners of this venture will be companies like BFL which based in the USA are out of reach from China, but given their attitude and past history they might decide to just run with the money gained from their quasi monopoly.
And after a fraud of this magnitude nobody will touch Bitcoin again with a long stick, even in the US.
But also without some chain reaction of this sort Chinese legislation is taken not nearly serious enough. The risk associated with Chinese exchanges trying to operate in this kind of legal gray area is tremendous.
The point is, it is a reckless gamble made because of the greed and pride of the exchange operators on behalf of every other Bitcoiner.
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Parroting what you just have written doesn't suddenly make it true.
My first ever ignore!  congrats. |
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Parroting what you just have written doesn't suddenly make it true.
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One senator making a non-negative statement equals the whole goverment "catering for it's success", right. On the subject of your example, did you it's not allowed to spend Bitcoins received for campaign donations?  |
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Doesn't look like the same thing to me.
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Ignorant? What do you mean? Considering that the US government is working out how to cater for Bitcoin's success do you not think they would want reserves of their own? Right now there is speculation going on with fiat currencies: does that mean that the government or FBI is not allowed to hold fiat currencies?
No the US goverment isn't "working out how to cater for Bitcoin's success". The hearing on virtual currencies was to prevent money laundering and provide some legal margin for companies. If you think otherwise you are even more delusional than I thought. |
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I'm pretty sure they said they were going to sell the coins ..... someone can correct me if they didn't
Why? Do you think they need the money right now? Of course they won't sell. Everybody is bullish for Bitcoin this year, including the FBI! Even all the bears on this forum are bullish! There is no way the FBI will sell any coins for at least 2 years in my opinion, and only then might they pass some to the treasury as a way to control the price. Basically the FBI has to sell them, unless special legislation would be passed which would allow the FBI to speculate on seized assets, which makes no sense. What remains is using them for some sort of sting operation to flush out other blackmarket sites, but I don't think that is really an option since it's hard to hide where the coins come from. Are you really that ignorant about how the world works? |
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I don't think anything of it will end in the hand of any FBI affiliated groups.
Once the auction is announced it should generate quite some press interest making sure everybody gets wind of it. Then dealing with a goverment agency this way leaves very little risk of being defrauded, I think even less than dealing with any Bitcoin exchange. That alone is probably worth something, plus the potential bragging rights of having some of those "FBI Bitcoins"
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Do they even have the private keys, or is the wallet encrypted? I'm willing to bet they can't even touch the coins, and anyone winning the bid on that auction will be stuck with a locked wallet.
They moved the coins to a new wallet which requires control over the original Bitcoin wallet. So yes they do have the private keys. |
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Don't get your hopes up. The FBI probably will auction off their Bitcoin stash to the highest bidder, this way they have a good chance of having a decent premium on the market price.
All those prominent high worth Bitcoin advocates will stand in line to get a piece off the pie.
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XRP isn't tied to the WOT system in any way. Trust inside ripple isn't different to trust in exchanges. What is to stop someone who has already built up xrps from running a Ponzi scheme ala madoff style?
Like pirateat40? One critique of ripple hasn't yet came up and it is almost never mentioned: It's complicated, perhaps to complicated to use for a regular user, but the same was true for Bitcoin before payment processors. |
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Linearly decreasing amplitudes don't happen in nature, it's almost always exponential decay.
Why should price fluctuations be different?
sorry for the ambiguity. i meant to say that one example of a damped oscillator is a sine function with linearly decreasing amplitude, not that that is the preferred model for price. you don't take issue with the fact that price behavior can be modeled with the equations for damped oscillators, do you? I agree with you more on it than almost everybody in this forum, except one or two exceptions. I rarely write about it  |
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Linearly decreasing amplitudes don't happen in nature, it's almost always exponential decay.
Why should price fluctuations be different?
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Should I psychoanalyse you as well?
...
You seem to be the guy who pretends he dont gets it.
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Be fearful when others become greedy.
Be fearful when you become greedy is also a good one! If you are bipolar... |
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