About to break 5.4! Let's wait. It'll come within the next two hours, I think.
you know, if u lie to me twice in one day i'll have to...  |
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… once people begin to realize that not the rise, but the fall was manipulated?
fixed: ...once people begin to realize that manipulation is normal market moving? Really? MtGox hack, Mybitcoin, allinvain and all the other shit was normal market behaviour? I even think the MtGox hack could have been initiated by entities who aren’t very fond of Bitcoin … +1 if they were so smart to crack the database and the pw's, why couldn't they have changed the $1000 limit withdrawal? my own limit withdrawal was way above that amount. why go to all the trouble to alert everyone by initiating a 30 min (whatever it was) takedown to $0.001? Indeed. This was not done for personal enrichment, it was done to produce charts like this one:  yes, and if we're right, that means thats the only way they could figure out how to takedown Bitcoin. btw, at a New Yr's Eve party last night, a friend of mine was telling me how his brother in law who was one of the top IT guys for NASA just came back to take a new job with the Kardashian Family enterprise in their IT dept. he says that the techies he worked with back at NASA were nothing compared to the guys at the Kardashians. IF one can generalize from that one anecdote, Bitcoin is going to be a real big problem for gov't. (i have other anecdotes as well). |
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… once people begin to realize that not the rise, but the fall was manipulated?
fixed: ...once people begin to realize that manipulation is normal market moving? Really? MtGox hack, Mybitcoin, allinvain and all the other shit was normal market behaviour? I even think the MtGox hack could have been initiated by entities who aren’t very fond of Bitcoin … +1 if they were so smart to crack the database and the pw's, why couldn't they have changed the $1000 limit withdrawal? my own limit withdrawal was way above that amount. why go to all the trouble to alert everyone by initiating a 30 min (whatever it was) takedown to $0.001? |
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me to. i know own a shitload of bitcoin, i am damn fucking rich, nobody is gonna stop me, i own all the fucking bitcoin ze fuck! 85! poor student is poor  Just get a student loan, invest in bitcoins, and hope you didn't make the wrong decision  Or trade with margin on Bitcoinica. oh yeah, thats a great idea. |
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But what about the people who bought when the price was way higher than it is now? They absolutely got raped by the fact that the coins were poorly distributed. They got raped by the collapse of a speculative bubble. I'm not sure how you're connecting that to "poor distribution" (or, for that matter, what you mean by that phrase). The poor distribution becomes apparent when you have a look at this chart: http://bitcoin.sipa.be/speed-ever.png It shows difficulty 1 for a whole year. The market has never been distributing those coins properly, as there haven’t been huge panic sells like this. The early miners have been enjoying an unfairly high price AND unfairly low risks to accumulate Bitcoins. Also, how can a free market void of government influence even produce a bubble? I thought you libertarians believe that bubbles are only due to the expansion and contraction of credit? b/c ppl did go out and borrow USD's to funnel into btc on the way up; then the price crashed and then here's the kicker; Bitcoinica became available in September which caused an overshoot to the downside below the $4 breakeven point for miners. we are now witnessing the snapback effect of that. |
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happy new year to everybody and thanks for all the trust
As of today, we have added live charts in http://bitcoinbullbear.com, thanks to Clark Moody.
Looking forward to a rocking BITYEAR :-) where the hell you been, boy? Happy New Year!
I was in the snow in the mountains :-)wow, i'm jealous. otoh, we all been havin some good fun here! |
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what happens if i as a new customer of Bitcoinica deposit $50K right now? does it just sit there until i decide to do something with those USD's or will they be siphoned off to allow shorts to cover or other longs to buy?
I think they will be siphoned off. you better hope not b/c that would be a total ass rape for customers. not being able to buy in a Bullseye situation with your own money? why do you tolerate this? you're losing money by not being allowed to participate in an uptrend. thats just as bad as the shorts not being able to cover. you need to be able to make those gains now so as to cushion the downswings which will inevitably come. |
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I’m sure he’s long now.
no way. It has to be the cognitive dissonance that won’t allow him to turn up here anymore. Or maybe shame. think of ALL the Bears who were raging here just a month ago. we even have one for a forum moderator. Raging? lol Not quite, I don't get as emotional as you do I would call myself cautiously bullish. yeah, but you gotta admit, you were banging me pretty hard.  |
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what happens if i as a new customer of Bitcoinica deposit $50K right now? does it just sit there until i decide to do something with those USD's or will they be siphoned off to allow shorts to cover or other longs to buy?
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this is an interesting point. how would you foresee they do this?
i mean, how can they recover btc's that have already been sent? isn't that part critical to allowing chargebacks?
When a seller on PayPal withdraws his balance to his bank account, there is no chargeback either. So as far as I can tell there is no difference between bitcoins and dollars in this regard. If a seller withdraws the bitcoins from his PayPal account to his private wallet and runs with the money, PayPal takes the loss in case of chargebacks. Just as it does if the same were to happen with dollars, euros or Danish kroner. The only difference would be the legal complications of bitcoins not being regarded as a currency/property by the legal system, thus limiting PayPal's ability to sue a seller in order to get back what PayPal thinks the seller owes them. it really would depend on how much Paypal charges for tx's in btc. if they try and maintain what they charge now, i don't think it'll survive. they'd also have to increase their level of KYC on the seller side to limit abuse. |
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Exponential government debt is not in nature, and is not sustainable without serious currency devaluation.
well, i'd argue that it is "in the nature" of human beings. and who the heck cares about currency devaluation anyway?  I love currency devaluation if it’s good for Bitcoin’s valuation. aka, the Greatest Transfer of Wealth the World has Ever Seen. |
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Exponential government debt is not in nature, and is not sustainable without serious currency devaluation.
well, i'd argue that it is "in the nature" of human beings. and who the heck cares about currency devaluation anyway? |
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The only thing in nature that grows exponentially is cancer. Keep that in mind.
And the human population has not? for that matter, what about the gov't debt?  |
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Shorts are not being liquidated now... zhou is in the red again.
ugh I hate this. I put in a buy order just then and got the dreaded NO RESERVE error.
if they're NOT being liquidated now, they soon will be. |
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I've only seen the * come up a couple times over the past hour and it went away almost instantly. I suppose it depends on how many coins you were trying to buy... Although, I did notice something strange in that both the ask and bid prices had * beside them meaning that apparently you could not buy OR sell there for a few brief moments. They both went away with the next automatic AJAX-magic refresh of the prices, though, so I'm not sure what could have caused that.
what?! * on both sides? oh my, i'm gonna have fun with that one... |
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Most fantastic!
did u get ANY sleep last nite, what with it being News Years Eve and your bedside laptop? LOL! Haha, I managed a bit. A good solid three hours of sleep until 5am, at which point I randomly woke up, saw the price was $4.90 and got excited. After several minutes of trying to sleep again I left the room, laptop in hand, so as not to wake my gf. I was up for a couple more hours watching it at that price before I setup on the couch and coffee table. After a couple more hours of poor sleep, my trusty laptop fans woke me the moment it hit $5.15. i love how you describe me to a tee! |
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