The daily chart looks gorgeous. It hit the short ema, and then the long ema, and then the short ema again, and now it looks like its making sum cup and handle up the trendline.
You gone bull? confusing me here! Slowly but surely everyone is starting to figure it out. What's happening right now happened before in March. Almost identical charts. One more crazy run-the-train-of-its-rails rally is brewing. It's going to be epic. Yes. This $720 level is starting to look like the $210 level. Launchpad for moon-rocket. |
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What's the form about pasting whole articles..? High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/0a5fae82-5341-11e3-9250-00144feabdc0.html#ixzz2lMSc2I20The success of BTCChina mirrors the rise and rise of Bitcoin itself. Seen by enthusiasts as a replacement for central bank-issued currencies and by detractors as a bubble and a passing fad, Bitcoin has risen some 5000 per cent this year in US dollar terms. Surging Chinese demand has been one of the main reasons. “If you look at Bitcoin from a technology perspective, you realise it cannot be boxed. And Chinese people love that,” says Bobby Lee, chief executive officer of BTCChina. The absence of controls on the peer-to-peer virtual currency, traded largely anonymously and beyond the supervision of national governments, is what has most worried regulators around the world. In China, a country with strict capital controls, it is a big part of what makes Bitcoin so attractive. Bihang, another Chinese exchange, is explicit on this selling point. “In 200 milliseconds you can move Bitcoin data to the US, for almost no cost,” it says on its website. “The world has never been this flat.” |
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I love peter Schiff as much as any other libertarian, but guys, come on... He has millions of dollars invested in gold and built his ENTIRE company around precious metals. Maybe a LITTLE bias coming through there.
Agreed. But what goldbugs fail to understand (which was me too until 1 year ago) is that gold is best for 19th Century face-to-face commerce, It is not good enough for a 21st Century economy where most transactions are remotely executed. This is why fiat survives even though CBs are forced to print it to death because of FRB and government debts. Crypto is a 21st Century currency fit for purpose. |
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And what do you think?
Well he's not wrong. Bitcoin has very little intrinsic value. I disagree. The "intrinsic value" is absolutely massive, but perhaps not obvious. A bitcoin is a unique type of data which can be copied millions of times, as is usual, but unlike other data can't be counterfeited. It is a perfect implementation of DRM. It also has its ledger system and peer-to-peer transmissability. All of this gives utility for digital commerce which is "intrinsic" to it. In this sense, he is correct. Bitcoin has no non-monetary use. However, Bitcoin (the system/netwrok) does have features/characteristics that have usefulness beyond the context of a simple means of exchange, and all of those features require the use of bitcoins (the currency) to utilize. In this sense, Bitcoin does have an 'intrinsic value' in the economic sense.
Exactly. |
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Yep. He definitely has the big picture. I expect him to be in demand on the speaking circuit for years to come.
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Make way, here comes one of the kings of the road: (I've always liked CaseyResearch for gold). Trailers for sale or rent... If you want to stay up on the latest financial trends and investment opportunities in technology, then we recommend you take Extraordinary Technology for a test drive. Paper trade it until you're comfortable, then invest alongside us, for a full 90-days—and see why our track record of big gains is unparalleled. FFS! Their BIG gains are sheep pellets compared to Bitcoin gains. |
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That's the plan, isn't it?
I think the plan is more on the line of "Bitcoin could offer a good replacement before the dollar collapses". The plan is more like "lets get a sound monetary system to remove all the distortions in the world economy: which is everything from trade imbalances, peak debt, centrally manipulated interest rates etc etc." in the meantime the dollar might be collateral damage. |
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Great work! Looking forward to the tx fee improvements.
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we've done it'; we're finally money  The lesson here is that real scientists understand Bitcoin and its blockchain far better than faux scientists (economists) will ever do. |
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did they mention 2nd life?! lol?! deary me
I thought it was very ironic when Mercedes mentioned Second Life as example of virtual currency, in the contect of more regulation = better, coonsidering SecondLife econoomy was BOOMING for years with no stop in sight, until US told Linden Labs to regulate it, and forced them to ban all interest bearing accounts (banks, stocks, loans, financial services) and ban all games of chance (gambling). The economy absolutely tanked, and never recovered since, with SecoondLife becoming a glorified chat room. Yay regulations! Wow. I never realized that. I just assumed SL had pretty much died a slow death through apathy, not through what amounts to financial terrorism. It would be very interesting to see if LL could replace linden$ with Bitcoin. |
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as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..
yes the dust is clearing. but will their be another bear? I'm counting on it.... How much do you holdi n btc and how much fiat? i am 80% fiat good stuff now place bids and pray to wtv god you believe in.  He's not listening! |
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Despite the bubble poppage, there is massive bid depth building across the exchanges. Bitstamp now has 10m USD (up from 700k in the summer and 6m just the other day). BT China now has 55m CNY (up from 5m at the beginning of the rally). I don't know what to make of it. My instinct from April, looking at the asks, and the h4 emas, is to sell because its probably capitulating into 300. But then I look at these new bids and I just don't think its safe. What do you think?
This November bubble rally is nothing like the April one. In April it went up 20x. The post-April level was about $120 when the oscillations finally dampened out. The recent rise is about 5x, and may well be in keeping with all the recent long-term investment and ecosystem expansion. I have sold a couple of percent of my holding at $585 but am now thinking that the cheap coins from the recent correction are already scooped up. |
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I know that china and gox have sticky fiat problems.
But a $100 difference between stamp and btce is a real mystery.
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Every single chinese speculator who bought bitcoins at any price is sitting on profits, some of them massive profits.
100% of them!!!
Except the trading noooooooob on GoXBTC who paid 22,213 yuan per BTC or $3,600! https://www.goxbtc.com/ |
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My suggestion around luke's patch would be the following.
Create a BIP32 key/pair and supply the public part of the key.
Every implementation of the Mastercoin protocol should use this chain and check a list of addresses based on transaction volume of the last 25 blocks. We would start with a gap limit of 50 and retarget this number if the average volume across the last 25 blocks was more then half of this number to avoid collisions. We could also just hardcode a list but this solution should offer a bit more scaling and save some CPU cycles.
This is exactly the right approach. Luke's patch and the momentum to reducing address reuse is a non-risk to Mastercoin. The main risk is scalability. As this is now a multi-million dollar enterprise contingency planning becomes important. A project to develop a merged-mined alt-chain based upon Jeff's work should be considered, and high-value/low-volume MSC applications preferred in the meantime. |
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