I agree not very good theory, do you have one?
Yes, demand & greed fueled the bubbles. Just like it will fuel the next ones and fear fueled the crashes like we are seeing now. Normal human behavior. |
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The Homeland Security agent’s theory was that Karpeles, as owner of Mt. Gox, held an enormous amount of Bitcoin. He used Silk Road to leverage that price and raise it, which it did by several hundred times over during the course of Silk Road’s lifespan. Bitcoin was worth around $2 at Silk Road's launch and hit as high as $290 by 2013.
What the hell do they mean by "leverage that price and raise it"? Can anyone here come up with a scenario how keeping gox money at silk road could have raised the price? My guess is that (assuming this whole thing is true) Mark used the bitcoins from SR to pump bitcoin on gox, then when shit hit the fan he seppuku'd SR with the help of the FBI (remember this caused the huge bubble up to $1k) It's sadly actually looking plausible but I still remain sceptical about the whole thing, DPR is a VERY opinionated and idealistic guy which Mark really isn't, their characters just don't match in my opinion. Unless it was all a ruse.. How does one uses bitcoins - to pump bitcoins? You don't. It''s a moronic theory. |
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Cypher (or someone who feels like they can properly explain it): can you please ELI5 why sidechains will break the incentive mechanism? I haven't been able to follow this thread as well as I used to.
I think (cypher can correct me) its because taking transactions off (main)chain reduces fee-based income for miners. When the block reward dwindles after several halving that is their only incentive to mine. If they have no incentive, then they will not mine, the network will become more vulnerable. eh ok, there must be some way to count off chain transactions and then credit the miners appropriately. I'm not saying this would be a trivial change, but this scenario is probably 10 years away minimum and I find it fairly difficult to believe that there is no way to get around this between now and then. |
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Cypher (or someone who feels like they can properly explain it): can you please ELI5 why sidechains will break the incentive mechanism? I haven't been able to follow this thread as well as I used to.
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They just completely fucked over their export business.
no they dint also is irrelevant is all about imports tell that to swatch. |
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Nicely done Swiss CB.  They just completely fucked over their export business. Whatever reason they had, it must be a good one. They next few weeks should be interesting to say the least.  |
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I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
What does bid/ask sum have to do with predicting major movements in price? Jack shit. GTFO of here with that useless FUD you worthless troll. Let's see what happened...  With a lot of help from Chinese panic sellers, my prediction became true regarding prices: Bitstamp 152$, BTC-E 176$, Bitfinex 166$, and mainland Chinese exchanges ~900CNY, let's say 150$. I was wrong about the timing though, the first drop started 2 days earlier than expected and ended with this high volume capitulation 7 days earlier. So my EW-derived method is not accurate with respect to timing... shrug. The extra fiat on Huobi only made a small difference, it wasn't possible to stop this deluge. And while this should be THE bottom, I wouldn't be surprised if support at these levels gets tested in a month or two. fair enough. My bad. I definitely was emotional and I apologize for that. You were obviously right. That being said, I have to say that without a chart to back it up and what seemed to me like baseless speculation to try and goad people into panicking, I just lost it. There are tons of people on this forum that do nothing else besides trying to manipulate other people into feeding their position one way or another and I have very little patience for these people. |
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pretty sure he means that he took his bitcoins out of bitstamp as soon as he could, leaving him long. I read this because of his posting of support, not because of the way his sentence is necessarily phrased |
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Why doesn't he make clear sentences?
They are clear. In Ukrainian. |
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Everyone seems to be saying the same thing now, from luc to ryn, danv and s3052. I am not sure how this will affect the waves - maybe it just makes the pattern stronger?
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I'm new to this thread. Without reading all 989 pages of posts, can somebody summarize the prevailing Zeitgeist of this thread?
Shouldn't it read, "Bitcoin collapsing, Gold is steady"?
It reminds me, as a gold bug, of the 'collapse' in gold the last few years. Since my average price is well below $1000 an ounce, I don't really care if it falls from its all time high, as I'm still above water.
Is it the same with most of you BTC holders? Or did you buy at the peak?
TonyT
Check the original post date for context. My average cost per bitcoin is about 7 dollars and cypher's is probably even lower, so no many of us here are comfortably in the black. |
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Yeah, no need to be nasty, just use ignore button. If you use it correctly you will end up with the best and most valuable comments + your life expectancy will increase due to the lack of stressors.  Amen. That's what I do. I had him on ignore for a long time, but it bothers me to no end that I see noobies getting sucked into his bullshit. |
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I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
What does bid/ask sum have to do with predicting major movements in price? Jack shit. GTFO of here with that useless FUD you worthless troll. Really now? Over the years, I've found it an invaluable tool. Also, can you moderate your tone? By contrast of your response, you're certainly more of a troll than he is. Tzupy merely made some observations, and some of them even bullish in nature (so much for "FUD"). Sorry, but no. He just posts worthless garbage to get people to act the way he wants them to by inciting fear/ greed with very little rationale. I wouldn't expect you to notice that however as you are not much better. |
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I made a comparison of the current bid and ask sums on Bistamp and Huobi, with the ones during the second half of September 2014.
The differences are massive: for Bitstamp, they suggest a major drop starting 3 - 5 days from now, and reaching 155$ - 180$ about 20 - 25 days from now.
For Huobi, the bid sum has increased a lot, maybe the reinstated deposits are working and there has been fresh CNY entering Chinese exchanges.
This complicates the situation, because the direction of the market depends on who leads. To crash Huobi a lot of coins must be dumped.
What does bid/ask sum have to do with predicting major movements in price? Jack shit. GTFO of here with that useless FUD you worthless troll. |
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out of curiosity to the security experts here.
which do you consider more secure, Armory or Trezor?
I'm not a security expert, but I would say trezor (with passphrase). It's also easier to use securely. Trezor seems safe. A simple paper wallet generated offline on a new computer running linux is safe too the problem with a paper wallet is to spend the coins safely. An average bitcoin user these days isn't able to create a linux live CD, import a private key, export the transaction by USB and broadcast it on another online computer running a full node. Exactly. Like I said above: trezor (with additional passphrase against theft of seed backup) is quite secure, but most importantly: it's both easy to use securely (hard to fuck up) and very convenient. I use it as a day-to-day wallet (plus mycelium on the phone) Has anybody noticed that Bitcoin actually has the potential to eliminate theft, like, for real? more or less.  |
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Cool, but I won't bite until they offer bip32 |
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Chances of that happening are about 0.5%. This is worthless hype. |
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i dont get it. like scotland rejecting their independence. Good news for them because that shiny metal in the long term is not going to be worth much. Good news for us in the short term as it accelerates the inflatability of fiat. |
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Sometimes it helps to just sit out a couple of days and kind of reset your timing. Really, not just knowing the market, but having a sense of timing matters. If you end up getting in at the middle of a cycle you can feel like you are swung in all the wrong directions.
+1 Also I agree about the auction leaving a big unknown. It's only 5 days away so I think I'll sit and watch until then. What exactly is unknown about the auction? Its going into deep, patient pockets - just like the last one. This should not affect the price at all. |
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