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Would it be possible to make bitcoin nodes using these and some kind of solar charging/discharge circuit? I'm not familiar with the power requirements. That would be pretty damn cool. Then just start installing them in places with weather-proof enclosures, etc...
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I'm really liking the recent designs here. If I ever get a chance to break away from what I'm working on and be creative, I'd love to throw one into fray.
Good job guys, love the collaboration.
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Gawker, Gizmodo, etc...
They like to make 'click-bait' article titles when they have absolutely nothing to say about the topic at hand. I've never run into a larger collection of mouth-breathing idiots, fervent in their desire to be posting 'first' about something, instead of stepping back, getting some perspective or research done - then posting.
I avoid their tangled hype-web at all costs.
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Considering the dollar amounts involved to take out all those offers.... I'd say 'no'. Unless anyone has some actual corroborating evidence. The 'whiskers' on the candlestick chart look like a pure whipsaw panic to me. I don't buy the 'manipulator' story either - because only a sorry-assed idiot would tip their hand by cleaning out the order book.
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Midpoint of the current price bar (07/17) is about 8.45 - it is interesting we've found some momentary equilibrium here after the wild ranges from last night.
Not sure about Kim Dotcom - didn't think he had access to his funds. As for other 'manipulators' I'd have to say that was a sorry-assed manipulation. If I had a really vast bankroll, I sure wouldn't tip my hand by purging the orderbook of all offers.
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Judging by a simple upward trendline drawn from the July 5th bar, we could retrace to 7.80's without breaching the upward channel. Long 'whiskers' on a candlestick aren't usually used when aligning a trendline - but it is interesting that the highly volatile lower price below 7.40 was rejected quite soundly.
Heck of a trading session.
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I think its amazing we stayed north of 8.00 even after the wicked volatility after the high of 9.00+.
That's what happens folks, especially in a thin order book with a monster on either side.
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I've got the chart on a large plasma display. I'm going to have to redraw my trendlines, lol. The breakout is quite impressive. Thought we'd just have a retrace-and-grind upward kind of action. I guess we'll know if this is a blowoff top if it retraces back to 7.80 - 8.00 - in any event, really cool to watch.
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I've been thinking about the private key part... What if you could make a square 'matrix' that was surrounded by letters/numbers which would yield the proper QR-Code when you filled in the squares where they intersect? It would be like a cipher code that would prevent immediate 'cashing in' if someone found/stole it. Layout Image Link: https://docs.google.com/open?id=0BzdbolIn7zf1bEJ4Z3hqdC0wekUThe idea is that the QR Code would be 'degraded' by pixels being removed from the complete passphrase-revealing QR Code. I haven't run this in reverse to see what the degraded QR Code would generate - so that may be a problem with the scheme if it is very obvious what is missing. Just throwing it out there... UPDATE: Just tried to erase the one point where the example points to, and my QR reader was still able to get to the website - I suppose you'd have to tailor it to overcome some of the data redundancy inherent in QR Codes to make the scheme work. May still be valuable to someone, anyway. |
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I don't see selling them all unless:
Another block-chain or < insert superior technology > evolved to the point where my analysis showed it would be superior for some reason. (Security or other benefits - although given the collective hashing power of the current network, this is very remote.)
The price denominated in Chinese Yuan was so superior I could live the rest of my life without having to worry about money at all. (What? You think the dollar is going to be a world reserve currency forever?)
And even then, I'd keep a core position on... So no, I don't see me getting 'out' of bitcoin, ever.
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Interesting how trading suddenly becomes investing.
haha.
(Don't mind me just pulling your leg a little)
No problem. I'm doing both - working a position from day to day and a longer-term basis at a substantially under-par price. I'm not 'investing' in the sense of a losing trade turning into a longer-term 'hold-it-until-its-profitable' kind of trade. Early in my non-bitcoin trading career I've made that mistake, believe me. I recommend ditching losing positions as soon as possible. Live to trade another day... |
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What would be considered bearish? 6.50?
Draw a descending trendline from the recent 7.81 high - also it would have to break recent support from the last channel - which is in the 6.50 - 7.30 range. |
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The one thing to remember is - we only need one. Only one major business, supplier, whatever - and it will change the landscape forever. That trailblazer will be the foundation for others to copy their success, once they realize that they can shake free from the parasitic middle-men infesting financial transactions.
Even if this service doesn't happen due to Kim's legal battles, I'm certain we'll achieve that goal sooner rather than later.
It is going to be an interesting ride...
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Just watch what it does. I've been charting it from the mtGox datafor a while, and now the action suggests even a retracement to 7.00 wouldn't be bearish, given the new trendline it is ascending. If it breaks below and consolidates - a second chance to work in a new position.
Can't get too crazy over every wiggle, you know?
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It stuns me a bit sometimes when people don't realize the potential that bitcoin has. Even if the 'experiment' doesn't work out in this iteration, the principles involved will persist and change the entire nature of finance.
The banks have just been infected, and bitcoin and its variants are not going to just go 'away'. Anyone running a payment processor, for example, should be watching bitcoin very carefully - because it completely cannibalizes their business model.
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In case you are not familiar with this abbreviation: "OP" refers to Original Post(er). My last comment was on the bubble mentioned in the OP. The OP asks, whether we are in a bubble right now. My answer to that is:
@ OP: No bubble yet, but working on it
Everything in my post before that relates to the first bubble of July 2011.
How tiresome. Go ahead and keep looking for 'bubbles', I'll keep on investing for my financial freedom and the future of finance. |
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Lol, you proved it was not a bubble? Interesting. I think you rather came to the conclusion that it was not (I think I read your thread the other month). IMHO it was a bubble indeed showing all typical signs of a bubble, then it burst, not as abruptly as a bubble would burst with no value in its underlying security but it still did. Have a read through something on the "Gartner hype cycle", http://en.wikipedia.org/wiki/Hype_cycleyou will discover, that what we have seen last June was a typical hype resulting in a correction of exaggerated expectations. Because there is intrinsic value in bitcoin the bubble burst didnt end its live, like with any fad, but only expressed those expectations and the decrease to some more realistic levels, matching yield of the technology in its current state. @ OP: No bubble yet, but working on it Signs of a bubble, but not a bubble? Okay, thanks for agreeing with me - in a rather roundabout way, lol. while(BTC.price > 0 && NetworkHash > 0)
{
Bitcoin.Bubble.Status = false;
}
Hope that cleared some things up for you... (but probably not, lol) Like how you can contradict yourself and cover all the bases. Do you work for CNBC? |
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There's also the possibility that the rise is partially caused by the dollar inflating from the Federal Reserve's balance-sheet activities. M2 supply is up $43 billion from last week. Boggles my mind the numbers that get thrown around when dollar debt/expansion is concerned.
If you could graph BTC priced in dollars minus inflation - maybe its just a stable plateau after all. I leave that to the number crunchers here.
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Credit and fiat currency will still be needed to support various social programs (gov't backed). Bitcoin will be a great additional currency to move goods around.
I guess it all comes down to how governments and banks react to declining deposits and tax flows. They can either freak out and enact all kinds of laws that force bitcoin underground (much like torrents and other peer-to-peer activities) or they can embrace it, yet try to enforce some measure of control, at least on the taxation end. I am not very optimistic about them adopting the technology, however. The more likely scenario is full-on freakout mode before the inevitable death of their archaic systems. |
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