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Appreciate your post, but I really loathe facebook. Care to post an excerpt possibly?
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Since the Federal Reserve is pumping billions per month and essentially debasing the dollar along the way, I wouldn't be surprised to see that influence in the pricing. Not that bitcoin isn't inherently more valuable, just that this kind of debt monetization will be an additional catalyst for higher pricing.
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Market depth must've increased, because large orders aren't pushing things around like they used to. That is a good sign, resting buy and sell orders are accumulating and stabilizing overall volatility, which is key for the market to mature.
I'd like to see a decentralized exchange happen, but for what we have right now the volume trend isn't all that bad.
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I think it is just regular market activity. Some of the dumps pushed a few resting order triggers, as I was watching the raw price feed stream through. That is what it looked like to me.
As far as Mt. Gox being manipulators, they'd make far more money taking a slice out of the bid-ask spread than dumping lots of coins. Doesn't really make sense to push large amounts when they can get a non-disruptive income stream the other way. (Much like how Forex dealers make their money.)
I don't think they are, but it would be the easiest way to take a cut on top of the usual 'clearing fee'.
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Thank you for this, appreciate the effort.
I've always thought bitcoin would be the replacement for the numbered swiss bank account, especially in light of how the Swiss have bowed to the pressures from the USA and other countries about releasing previously confidential account-holder information.
One other issue I hope bitcoin forces is the ability to have granular taxes, where you contribute where you want your money to go, instead of a lump sum system that is divided without your input.
Guess we'll see...
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Nice, a lot of geeks just got the wake up call, if they didn't know about bitcoin already.
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In other words, if your intent is to exploit it, so you don't care about knock-on effects of being 'exposed', how far can you go?
Suppose your mother gives you huge credit, say a ton of gold or simply infinity. Offer to buy bitcoin for gold and pay through Ripple. You would like to buy for a full ton of gold but sadly no one with an actual ton of gold gives that much credit to your mother. Maybe she gets a kg though, so you order 1 kg gold worth of bitcoin and get them sent to you. Now you have a 1 kg gold debt to your mother, she has a 1 kg debt to her friend who in turn has a debt to someone else all the way to the bitcoin seller. If no payments flow in the other direction your mothers friend will eventually want the debt settled so she pays out 1 kg gold. This is ok, you are her beloved child and she would trust you with a ton of gold! When you meet next christmas she wants her gold from you. This is when you say "Go to hell, mum. My intentions are exploitation and I don't care about knock-on effects of being exposed.". The point I'm making is that it would take one willing scam artist to play a nice confidence trick, and then the whole thing unravels. When considering this system, the 'stigma' of social shunning doesn't mean a thing when the person has already set out to deceive people for profit. |
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Something to recall when considering triangle formations is that they tend to breakout dramatically. In my chartist opinion, we're looking at a long-term ascending triangle. Reference: http://www.investopedia.com/terms/a/ascendingtriangle.asp#axzz2EmTEbeFxOne of the reasons I love charting BTC is that it traces out the 'classic' chartist patterns - unlike the current high-frequency trading saturated markets now. |
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Ripple seems to be quite vulnerable to 'gaming' as some people have already said.
Any links or arguments that show otherwise?
In other words, if your intent is to exploit it, so you don't care about knock-on effects of being 'exposed', how far can you go? Seems as exploitable as online voting polls.
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What isn't usually mentioned in these breathless-accounts-of-our-chipped-future is that any electronics are susceptible to localized electromagnetic fields. Gosh, what a tragedy, I happened to invalidate my chip *again*.
Even in the nightmare scenario, having bitcoin around could be more useful than we realize. I always take the grand conspiracy theory with a grain of salt.
The coordination involved to get the world to switch to a 'One World Currency' exceeds the benefit. And as the continued implosion of the Euro has shown, hooking your destiny to a bunch of other economies falls short when practiced in reality.
With that grand example, I wouldn't be fearing such an attempt - if it speeds the central banking system's demise, then I'm all for it.
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Interfaces with the legacy financial are transitional technologies that help make the conversion easier.
I agree, this is part of the transition phase from sovereign currencies to a worldwide internet currency. In the end, "edge" processors that convert BTC to other vehicles will slowly go away, in addition to banking "bridges". It is also amusing to see the confusion from people who want to hate bitcoin, but can't wrap their heads around a banking bridge existing alongside it. |
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I'm pointing out that the trend upwards has finally reversed.
This is the speculation forum, not the "here's my intelligent retrospective analysis of data I obtained from the future" forum.
So a title like "Hash Rate Breaking Upward Trend?" didn't seem more accurate? The addition of "Begins Massive Tank" seems really sensationalist to me. I get we're in the 'speculation' forum, I'm just getting tired of the implied "OMG Crisis" in the thread topics. Such as "Crash" titles when BTC declines by $1 USD. It's hyperbolic and makes little sense. |
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Beats me if my reply will be posted, so I'll copy it here: You do realize that money is already 'virtual', right? When you do an ACH or SWIFT-based transfer, a server somewhere in the banking infrastructure is using "Oh dear, not simple" algorithms to make the transfer.
The world is changing fast, and insisting that cash is a 'touch' preferred instance to sooth our 'caveman' desires is absurd. More people make digital-based transfers than real ones.
As for your bitcoin specific points, oh dear, where do I start. You show a true lack of knowledge for the subject, beginning with how bitcoin network clients have to "register". There is no such requirement. You join the network when running the client, and it functions.
Given that you don't grasp that, why should your readers pay attention to the rest of your SEO-spun waffling? This man didn't do a lick of research, and it shows. |
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A prayer for subStrata: "Dear lord, please protect me from your followers."
Religon is such a mind-virus.
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The problem with the bible, and by extension other religious texts, is that they are modified and passed down by a network of people who have impressed their own interests and agendas along the way - under the guise of spirituality and "guidance".
Ever hear of the saying, "History is written by the victors"? Same thing.
While I think any system that involves little personal freedom and a surplus of surveillance inherently oppressive, I sure wouldn't be turning to a centuries-of-modified-text as a definitive source to measure its occurrence.
One of the disturbing reasons this technique has persisted so long is simple. You can use blind faith to motivate people to do the most heinous things, which is useful if you're building an empire or need a way to keep people occupied and fearful of imaginary edicts. (Which coincidentally, benefits the power structure you're making or maintaining.)
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So you're concerned about a dip that has a higher low than the two preceding it?
Why are threads created with misleading titles like bitcointalk is some tabloid rag?
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It isn't about chasing 'tokens' for the sake of amassing more.
Bitcoin is a system that isn't beholden to the banking infrastructure. Alliances aside, bitcoin is more about monetary freedom. If I was presumptuous enough, I'd craft a "Declaration of Monetary Independence". That is how important this tool is. It isn't about how many yachts you can ski behind.
The disruptive nature of a freely tradeable and non-regulated(ie., MANIPULATED) financial system is worth so much.
It is one of the most important advances of our age. I firmly believe that.
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Regarding your second graph. The price is still up at B when it should be down at C. Where did you go wrong? Elliott Wave theory eh?
Why do the call it Elliott Wave Theory? It's not really a theory. At best, it is speculation. Really, it is an textbook example of confirmation bias (look up "Street Light Interference"). It should be called Elliott's Cocaine Hallucination, or Elliott (Wouldn't It Be Great If The Whole Universe Could Be Condensed Into One Simple Equation?) Wave Theory, or Elliott Wave ... Hey There Are Fairies Dancing In My Garden! LOL. had that one night. Cycling along a long street and 4 consecutive street lights went out as i passed them. I was completely spooked. In my case it would be pretty unlikely for four lights to switch off in such a short time. I susspect either a practical joke or faulty wiring. But yeah, confirmation bias is real and it messes with what you think is real. Elliot waves are bias on steroids. That was my point, essentially. Too subjective to be of any real use. |
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Barring extraneous events, (major adoption by service provider/foreign nation/panics/etc...), at a conservative rise of $1 per month, that would be 18 months from now. So, worst case is by the end of May 2014.
However as we know, linear extrapolation has its own flaws.
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