I think that comparing mining to "solving mathematical puzzles" gives too much credit to what mining really is. Mathematics is all about recognizing structure in the "puzzle" at hand, while bruteforcing SHA is actually the opposite of that.
edit: I'd think the best way to explain mining to an audience like that is by calling it number crunching.
mining is hard to explain, and its extremely hard to understand why having computers solve pointless number crunching problems acutely gives the network security. |
|
|
|
Just the usual weekend slump?
1% rise fallowed by a 1% drop, I call that stable. Wasn't arguing against it being stable, just pondering if this 1% drop would have happened if it were not Saturday. I believe theirs enough $ on Gox to send us sky high at any moment... news like " Government of XYZ in the process of abandoning their $ in favor of BTC " will result in an sudden spike to 30 with a 3 million dollar wall at 20  weekend dips are a thing of the past. |
|
|
|
Didn't S3052 "promise" that the stable period will be over soon? Like 2 months ago?  IDK, I have don't have a sub with anyone, this keeps my predictions objective. The stable period just started, but it wont be here long. I guess you could view the past 3 months of trading a stable period, 13 - 10 trading range (small range... for bitcoin), and now its almost over. |
|
|
|
Just the usual weekend slump?
1% rise fallowed by a 1% drop, I call that stable. |
|
|
|
 you see, when it comes to price, I'm always right  Bitcoin is STABLE Buying out the Bears at a fair price |
|
|
|
Since when are human reactions and game theory random?
They are based off of small set of initial conditions and a similar set of possible reacting conditions. Far from random there are like what 5 starting positions and 5 possible ending positions(Same, better, much better, worse, much worse)? It is the very definition of NOT random. It's exactly 25 possible iterations of beginning and ending conditions.
I'm correlating to a specific, similar event from approximately last year to a specific similar event from approximately this coming year. It's not random, it's SIMILAR.
the reason it fell last year was because of pirate40 using everyone's coins to manipulated the market. |
|
|
|
|
nice wall just popped up.
|
|
|
|
Isn't it ironic that those people who start the largest number of threads have the least useful things to say?
Irony is using a word for something other than its literal intention.The word bitcoin is ironic. Rain on your wedding day is not ironic, it is just annoying. People who start the largest number of threads having the least useful things to say is not ironic, it is counterintuitive. Your use of the word ironic is however ironic. irony is a very board term. you could say selling bitcoins at 12.50 is ironic... or is it moronic? hmmmmmm |
|
|
|
Who does, the buyers?
mtgox |
|
|
|
so walls are unreliable
No, walls are not unreliable. Euro walls are just much further apart, as can be seen on mtgoxlive because Mt.Gox charges a hefty percentage for currency conversion. okay they deal mainly USD everything else has to convert to USD before trade? Not everything, you can have a sell order of 1BTC for 10EUR, and someone could buy that 1BTC for 10EUR without ever converting to USD. Its just when there isn't enough market depth in the other currency, they start buying/selling into USD orders. you bet me to it, was going to say: they allow you to trade your EURs for Bitcoin directly, its just that the big walls on EUR MtGox are owned by MtGox, when you buy or sell into their walls, they turns around and buys or sells on the USD market. |
|
|
|
Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.
Hang on, isnt there the same spread, fees and liquidity with all currencies on MtGox, because they are all pooled together? then the jumps are people accidentally paying too much for bitcoin, miscalculated their conversion ratio? Where do these walls come from on the EUR market? Wild guess: Its MtGox placing the walls themselves to add lucidity to their EUR market When a wall is taken down on the EUR market, MtGox buys the coins off the USD market They place the walls on EUR market high enough for them to be able to do this without losing money This is all done automatically. could it be? |
|
|
|
I started looking into stacking silver, but I could never bring myself to do it. for 2 reasons 1) I feel the whole gold / silver "movement" is fueled by a fear of inflation and TOTAL economic collapses. in which case SURE your gold coins will buy you stuff... but a bullet and a bag of rice, might cost 1 gold coin... so maybe just buy the bullet/rice if your afraid of TOTAL economic collapses? ( I just keep my pantry full these days... saves me money  ) 2) Bitcoin! |
|
|
|
Here's the chart to look at:  Long-term downtrend intact. oh really? why? rally failed to reach new a high? I have to agree with this. Gold/Silver will defiantly be going down, either cuz gold will go down or silver will go up or both  |
|
|
|
We are entering a stable period, despite the increased demand, due to profit taking. I believe the profit taking is minimal, and will not deplete the increased demand. So I predict the stable period will be short lived (no more then 2 weeks) and we will head higher once its done.  Just in case anyone missed my lasted prediction I call it: Buying out the Bears
at a fair price |
|
|
|
|
With the really cold/depressing weather rolling in, do you think more people will be surfing the net aimlessly and stumble on bitcoin?
|
|
|
|
“They are instantly fascinated by it,” he says. “It’s a flash for them when they realize how it can solve their problems.” I may have to rethink my 1-2week stable period prediction, and just skip to the upward explosion. |
|
|
|
yo wtf! Isn't having a connection to the internet a fundamental human right? \ Time to get mad, Syria!   |
|
|
|
Well if it's not a coincidence that is one of the strongest long term bullish signs there can be.
For both of them.
Please explain! I'd want to agree but need more elaboration.  Well, if it is no coincidence that means that the same group of people who noged silver around did it with bitcoin. But contrary to bitcoin with silver that requires a lot of dollars. Pretty straight forward, you probably thought the same thing There are no coincidences. question is why. why sell bitcoin & silver & gold all the same time?  Market manipulation? But "Market manipulation is prohibited in the United States under Section 9(a)(2)" how do they get away with it? |
|
|
|
Well if it's not a coincidence that is one of the strongest long term bullish signs there can be.
For both of them.
Please explain! I'd want to agree but need more elaboration. Well, if it is no coincidence that means that the same group of people who noged silver around did it with bitcoin. But contrary to bitcoin with silver that requires a lot of dollars. Pretty straight forward, you probably thought the same thing There are no coincidences. question is why. why sell bitcoin & silver & gold all the same time? |
|
|
|
I like using Canvirtex. I find it frustrating sometimes how much they lag in price though. I'd like to see Mtgox become a bit more user friendly for Canadians. There would be a big bump in price and volume at Canvirtex IMO as arbitrage kicks in. Right now I only have Arr!-bit-rage!
where's this virtex trade site not versatile when it comes to deposit methods? meaning only suitable for local canadians Hence the name "Canadian Virtual Exchange" Its a gr8 platform, easy to get money in and out, we can even load a debit card using our bitcoins. Plus for some odd reason coins are always like 5% less then mtgox. Isn't gox only USD? It depends how easy it is to convert CAD to USD like its hard to get USD in btc-e without fee thats why BTC is cheaper on there the problem is converting MtGoxUSD to CAD with a low fees most of the time, your better off just selling on virtex despite the price difference... |
|
|
|
|
Show Posts
