Could it be a head and shoulders formation? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FTMOqDAXl.jpg&t=664&c=IQ_Ycci2UMqjvw) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fforums.catholic.com%2Fimages%2Fsmilies%2Fshrug.gif&t=664&c=TXA55qDxR52cuw)
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rpietila talked about moving the market from 117 to 109 using a thousand bitcoins. So right now, if it's twice that distance, about $12.
https://www.bitstamp.net/market/order_book/as of the time of this post on bitstamp, a 1000 BTC market sale would take us from ~203 to ~198, assuming no dark pool orders on bitfinex
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You should check it again. Totally open-source since a month . I agree they are not good at communicating but their main aim is not bitcoin community but exchange platform like zipzap and future gateways. With more gateways and nodes the ripple network will be distributed enough to be fair and honest.
New features are coming with "contracts". I don't think it's too complex, it can easily be integrated and someone could use a ripple wallet without even know about it. About flexibility I couldn't really tell I'm not competent enough to say.
XRP distribution model is particular but you don't need xrp to use ripple network (mm ok actually you need less than 1$ to fund a wallet...). About long-term appreciation I think it may appreciate if the network find more gateways and plateforms that use ripple. Otherwise it may also disappear (just like bitcoin or mastercoin actually since there's not real economy backing them).
Interesting. I'll have to look into Ripple Contracts (to see if it's an idea MasterCoin should steal ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ) I'm a ripple fan but you should probably steal that =p I think that if mastercoin succeed it will stay inside a kinda "closed" crypto-world while some more FIAT friendly system like ripple will rule the woOOOoOOOoooOOOOOooooold at least, til crypto rules the woOOOoOOOoooOOOOOooooold!! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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if these ATMs are profitable, they will pop up all over the world.
they cost what, 6k? the price of a miner? should be more profitable than a current-day miner ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Michael is a proven thought leader in the bitcoin space What the hell is a 'thought leader'? How does one distinguish a 'proven thought leader' from an 'unproven thought leader'? This is exactly the sort of crap that annoys me to no end. "If you are disrupting an existing industry by applying new Bitcoin technology..." 'disrupting' - the coolest overused buzzword of the year. This crap is all warm-fuzzy-gooey hype. It won't help attract brains. Brains don't respond to that sort of nonsense. Brains filter those silly cool buzzwords right out. However, as Terpin appears indeed to be close to bitcoin - and has a track record of similar hype projects, I guess he is well positioned to generate some good will. I like the notion that in 3 months if the board does consider the result productive they can bail. Further, as JR has been won over by this proposal... I, as the project's biggest PR skeptic would concede to this arrangement being approved. If there is to be a committee to review the results - I'd like to be appointed to it. Someone with a bit of critical eye should carefully consider what kind of response this activity is generating. A "thought leader" can frame people's perception upon reading a piece towards a desired constructive outcome. http://venturebeat.com/2013/10/18/bitcoins-road-from-perdition-what-will-hurt-and-help-the-controversial-digital-currency/FWIR, this article directs the reader (in this case, the entrepreneurial audience of VentureBeat) towards problems/market voids that should see development and investment. A technical entrepreneur might read this and say, "Hey, I never was aware of this problem before, maybe I should start working on that!"
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To anyone, if we could get a graph over actual prices, and then an extension of the regression line past where we are today into say, 2014, I'd greatly appreciate that ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.
I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.
Look at the daily chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre. On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.
Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.
and here we find ourselves more than 60% above the pre September levels told ya so ... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-) In the past Decemeber has flatlined, perhaps because people pull money out for travel, Christmas/Hanukkah gifts etc. I was thinking that would happen this year as well but perhaps it would be best not to bank on that? Bitcoin adoption rates are not seasonal (calendrically)
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There will never be more MasterCoins, unless the MasterCoin protocol gets hard-forked. Potentially anybody could do such a hard fork, and if it happened, people would have to decide if they wanted to stay or to join the new fork.
So far the price of BTC has risen faster than we can spend it, so we actually have a lot more money now than when we started, even though we've spent quite a bit. Of course, that could always change if BTC crashes, as it has been known to do. Because of that possibility, I'm a tightwad on a lot of things. Just ask the board - we're currently discussing whether we should hire a very prestigious PR firm who is offering us a discount and offering to take payment in BTC/MSC because they are hugely into what we are doing. However, it's still a LOT of money, and I'm looking at cheaper alternatives before we commit.
I hate PR firms and the notion of hyping this thing up. Let's just make the damn thing work really well. That will bring more users than 50 PR firms. Why spend 'a LOT' of money telling people about how great this is. Why not just let them find out on their own accord. This is accomplished for free the day we make the system highly functional. Putting pretty paint on it won't get us to the finish line any faster. Forget the PR and the hype. We don't need that. We need to focus on a kick-ass solution that just works. The rest will take care of itself. I've already emphasized the point you've made before to the board that I do not want patting-ourselves-on-the-back self-congratulatory sort of PR but moreso to engineer a framing that would attract human investment ie developers so that we could accelerate the goal of "make[ing] the system highly functional"
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Hi all,
I agree that a PR firm that has measurable results (S.M.A.R.T) will be important in the near future.
However, the most important steps in the next few months are delivering features and value-added functionality to MSC so that word-of-mouth spreads within the Bitcoin community. I would first leverage the Project's success to market itself and then spend some money on PR.
When I voted for PR funding, I did so under emphasized intention that PR's focus will be to first spread awareness of the Mastercoin effort in the tech community with the primary goal of attracting more talented developers to this project and its contests, who might never ever hear about Mastercoin otherwise. Attracting more brains to come up with various scenarios and tackling these novel problems sooner might be one of the best investments Mastercoin can do for itself with the development coins it has been trusted with. Here is a suggestion, can JR do an interview with Slashdot? That is the best possible PR. Give an interview with Slashdot and discuss what Mastercoin means, what it can be developed into, and the contest. That will bring attention. After Slashdot then go with MIT technology review, Wired and ArsTechnia. Try to do it in that order and over the course of just a few days. Then allow the Mastercoin community to take it viral. JR is actually very good at marketing and PR. Yesss /. I very likely would not be here today were it not for my joy of reading slashdot and learning from those guys 6-8 years ago. If MSC can best the skepticism gauntlet at slashdot, we could attract some real brilliance from that network
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interesting... in reference to the Bitcoin Xianwen Lianbo appearance It is all rather odd. China still has capital controls, so it is strange that the regime would endorse something that allows those controls to be evaded.
I thought the same. Why tell the people about an decentralized money that would allow economic freedom, unless its a trap? Maybe they will open up a state monitored exchange? It will act as a fish net, and show who doesnt 100% believe in the state economy. Or China understands that it could become the greatest super power ever. With a huge labor force and control of a lot of resources, they have few bottlenecks. Their leader is intelligent enough to understand that communism fails. What if they love Bitcoin? They believe it the end all be all. A truly transparent economic system that would allow their country to reach its full potential. My feeling is that the location of the robocoin atm in question (Vancouver) is significant to the story's coverage on XinwenLianbo. Despite official capital controls, the party and business elite hold huge amounts of money outside of China and Vancouver is an epicenter for that activity. If you live anywhere in the pacific northwest, you feel this. The PRC's cash is sloshing around and squirting out the seams wherever it can... Just take a gander at the Vancouver condo market sometime to get an inkling. I think this is very much an indicator that it is okay(ish) to incorporate BTC into one's personal gray market capital flight if one has family, business, or associates in BC...
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what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?
Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise. Whales do not hold coins long term. They use the coins to manipulate price. lol Hard to manipulate the price by using coins without actually holding coins. Your theory makes little sense. what do you guys consider to be a whale nowadays?
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I have been in NYC the past two weeks working on several very significant Bitcoin related projects.
Any chance you can elaborate? Also - Will you be posting to your blog anytime soon? Wish I could. Just wait for the news, serious journalists like the WSJ have already been getting briefed but cannot write about it yet, which should come out around the last week of September. Additionally, this fall there will be probably 6+ 'big names', like Richard Bove or Chamath Palihapitiya [starting at 19:15], in the investment community that will come out in favor of Bitcoin and that will cause a lemming like effect. And the private wealth managers out of Asia are stacking Bitcoins away as the new favorite asset class. Many of the HNWI family offices will not make an investment in the sub-$25-50m range. So, when Bitcoin melts up then it is going to be free range for a lot of these ultra-rich Asia families to move in. If about $1m of new capital moves the price $9 then just imagine what $500m-$1B of new capital flowing into this asset class would do to the price. Especially if that $500m requires 'clean bitcoins' from a known source of funds. The making of a 'melt-up' in price to a much more fundamentally sound valuation since Bitcoins are largely undervalued given their characterstics (no counter-party risk, cannot be seized and equity based like gold). This is going to be a wild ride this fall. So strap yourselves in and let's kick the tires and light the fires! Chamath Palihapitiya, check Asia, check Wild ride, in progress
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There will never be more MasterCoins, unless the MasterCoin protocol gets hard-forked. Potentially anybody could do such a hard fork, and if it happened, people would have to decide if they wanted to stay or to join the new fork.
So far the price of BTC has risen faster than we can spend it, so we actually have a lot more money now than when we started, even though we've spent quite a bit. Of course, that could always change if BTC crashes, as it has been known to do. Because of that possibility, I'm a tightwad on a lot of things. Just ask the board - we're currently discussing whether we should hire a very prestigious PR firm who is offering us a discount and offering to take payment in BTC/MSC because they are hugely into what we are doing. However, it's still a LOT of money, and I'm looking at cheaper alternatives before we commit.
Hi all,
I agree that a PR firm that has measurable results (S.M.A.R.T) will be important in the near future.
However, the most important steps in the next few months are delivering features and value-added functionality to MSC so that word-of-mouth spreads within the Bitcoin community. I would first leverage the Project's success to market itself and then spend some money on PR.
When I voted for PR funding, I did so under emphasized intention that PR's focus will be to first spread awareness of the Mastercoin effort in the tech community with the primary goal of attracting more talented developers to this project and its contests, who might never ever hear about Mastercoin otherwise. Attracting more brains to come up with various scenarios and tackling these novel problems sooner might be one of the best investments Mastercoin can do for itself with the development coins it has been trusted with.
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Also, this "Reward MSC" really needs a new name. I find it easily confused with the bonus MSC investors received, when having conversations. Why call it "Reward MSC"? How about "Funding MSC"?
Personally I call them Development MSC
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about a dozen guys in just my fraternity alone own bitcoins and see it as a (for the most part) long-term investment
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Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.
I know it was released earlier tonight, but this article should be one of the more bullish adoption catalysts as more press outlets pick up the story and everyday Main St. investors become more incentivized to participate in the Bitcoin market. Things like this really resonate with the common man.
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Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.
I know it was released earlier tonight, but this article should be one of the more bullish adoption catalysts as more press outlets pick up the story and everyday Main St. investors become more incentivized to participate in the Bitcoin market. Things like this really resonate with the common man.
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