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21  Economy / Speculation / Re: Is BTC capable of crashing without gox? on: February 25, 2014, 05:49:14 PM
2011: Gox Hacked & Trading Frozen
2013: Gox Lagged & Trading Frozen
2014: Gox Fucked & Trading Frozen

I admit that the China news caused a depression in the price, from $1000+ to $800-$900. But, in Bitcoin terms, this is hardly a 'crash.' There's been other small blips, like the Silk Road shutdown, but it was pretty obvious these were bear traps from the start.

Question being, can Bitcoin have a legitimate crash without a Goxxing?

those were also back when gox was basicly the only player in town. that is no longer the case.
22  Economy / Speculation / Re: Prediction: $800 by April on: February 25, 2014, 05:48:15 PM
MTGOX shutdown is like a Silk Road shutdown from last october.

I have a feeling you're right...

except gox was way more important to the average btc user then silk road was.
23  Economy / Speculation / Re: Prediction: $800 by April on: February 25, 2014, 05:44:26 PM
im holding my btc until the next block reward halving.

why? price didn't jump last time. with a daily exchange volume in hundreds of thousands of coins, newly mined coins make up like 2% of the daily volume. Mining rewards are just to small a percentage to effect price much.

Didn't the last halving happen in December 2012?  April 2013 wasn't too far after that.

Granted, there were other things going on, but I absolutely think that reward halving has an effect - even if it's largely psychological at first.

You are saying the price halving resulted in a price spike 1/3rd of a year later? Tongue lol
24  Economy / Speculation / Re: Do you see the price of BTC above $5000 by the end of 2014? on: February 25, 2014, 05:36:33 PM
Before we see 5000$, we will see double digits again (not GOX).
BTC-e will default in less than 365 days.


based on what info?... or just fud slinging...
25  Economy / Speculation / Re: Memespeculation on: February 25, 2014, 05:35:08 PM

this one got me loling Tongue
26  Economy / Speculation / Re: Can you deposit, trade and withdrawal on your Exchange? What are you using. on: February 25, 2014, 05:24:43 PM
yes to all the questions on bitstamp
27  Economy / Speculation / Re: Mt Gox CEO Karpeles says bitcoin exchange is at "turning point" on: February 25, 2014, 05:23:53 PM
what a beautiful non-statement
28  Economy / Speculation / Re: You are really a retard if you don't buy in now (going to $45,000 next summer) on: February 25, 2014, 05:19:33 PM
29  Economy / Speculation / Re: Prediction: $800 by April on: February 25, 2014, 05:14:32 PM
im holding my btc until the next block reward halving.

why? price didn't jump last time. with a daily exchange volume in hundreds of thousands of coins, newly mined coins make up like 2% of the daily volume. Mining rewards are just to small a percentage to effect price much.
30  Economy / Speculation / Re: CONFIRMED: Karpeles bought Gox.com domain on: February 25, 2014, 05:10:11 PM
I see that Gox is taking the coca-cola rout here. Remove a product then bring it back later with a different name... but its still the same crap...
31  Bitcoin / Mining / Re: Wheres is the best Cloud Mining now ? ( Suggestion For newbies like me ) on: February 25, 2014, 04:53:29 PM
DONT USE CLOUD HASHING SERVICES!

I've been mining bitcoins since 2010 on a large scale so trust me when I say, cloud mining is a rip off. You could get 2 to 4 times as much mining power spending the same amount of money on asics for yourself instead of buying cloud hash.
32  Other / Beginners & Help / Re: If I rent out bit mining hardware how many GH do I need? on: February 25, 2014, 04:47:13 PM
yall posting in a troll thread
33  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][Pool][Profit-Switch][Optional Auto-Exchange per Coin][Vardiff] ~ Hashcows on: February 25, 2014, 04:39:28 PM
yeah for me its showing over 100btc Tongue. i wish...
34  Bitcoin / Mining speculation / Re: this dude is out of business on: December 31, 2013, 03:31:06 PM
op made me lol Tongue
35  Bitcoin / Bitcoin Discussion / Re: "Current proof of work algorithm will not survive the year" Dan Kaminsky, 2013 on: December 31, 2013, 03:25:57 PM
SHA-256 based proof of work is a means, not an ends.  We use it to achieve a desired result - that being a decentralized network.  For the time being it is working.  Since production of silicon chips is very centralized, and it is well within the reach of many governments to amass a majority of hashing power. 

This.  Absolutely this.  If the US, or China, wants to take over Bitcoin, freeze its value relative to dollars (or Yuan), and issue as many bitcoins as they want just the same way they issue their usual currency?  A call to butterfly labs or somebody who can reverse engineer one of their chips, a gag order to prevent them from talking about it (if they even know about it), another call to Intel or somebody with a huge chip foundry, cut one big check, and done.  Anybody whose client rejects blocks where more bitcoins are created than their client thinks is kosher then finds themselves on the losing side of a chain fork.  And the updated client is available from your friendly neighborhood government offices.





and it would only cost hundreds of millions
why would they spend that to destroy a valuable commodity producing a lose lose situation when they could just join btc and make a win win? you tin foil hat people are funny Tongue
36  Bitcoin / Group buys / Re: [GROUP BUY6] New Years Eve Thank You Giveaway Bitmain Antminer S1 180GH 3 BTC on: December 31, 2013, 03:09:03 PM
or maybe it has something to do with the fact that, assuming a 30% difficulty increase every 10 days, this miner costing 3btc will only generated about 2 btc before it is no longer profitable Tongue

Let me just explain how i came to that conclusion:

the difficulty is currently 1.18 billion

so assuming a 30% difficulty jump every 10 days the difficulty will be 1.535 billion on the 4th when the machine ships

jan. 4th-14th difficulty = 1.535 billion = .6 btc mined (.06 btc per day x 10 days)
jan 15th-25th difficulty = 1.995 billion = .4 btc mined (.04 btc per day x 10 days)
jan 26th-feb 4th difficulty = 2.594 billion = .26 btc mined (.026btc per day x 10 days)
feb 5th-15th difficulty = 3.372 billion = .17 btc mined ( .017 btc per day x 10 days)
feb 16th-26th difficulty = 4.384 billion =.11 btc mined (.011btc per day x 10 days)
feb 27th- march 7th difficulty =5.7 billion =.07 btc mined (.007 btc per day x 10 days)
at which point the miner would start costing more in electricity then its producing if the price stays what it is now.

to sum up:
miner cost 3btc
miner produces 1.6 btc in its lifetime

sorry sushi. went from wildly successful to no longer viable in a week. time to move on to the next thing Tongue
37  Bitcoin / Group buys / Re: [GROUP BUY6] New Years Eve Thank You Giveaway Bitmain Antminer S1 180GH 3 BTC on: December 31, 2013, 03:03:37 PM
or maybe it has something to do with the fact that, assuming a 30% difficulty increase every 10 days, this miner costing 3btc will only generated about 2 btc before it is no longer profitable Tongue

Let me just explain how i came to that conclusion:

the difficulty is currently 1.18 billion

so assuming a 30% difficulty jump every 10 days the difficulty will be 1.535 billion on the 4th when the machine ships

jan. 4th-14th difficulty = 1.535 billion = .6 btc mined (.06 btc per day x 10 days)
jan 15th-25th difficulty = 1.995 billion = .4 btc mined (.04 btc per day x 10 days)
jan 26th-feb 4th difficulty = 2.594 billion = .26 btc mined (.026btc per day x 10 days)
feb 5th-15th difficulty = 3.372 billion = .17 btc mined ( .017 btc per day x 10 days)
feb 16th-26th difficulty = 4.384 billion =.11 btc mined (.011btc per day x 10 days)
feb 27th- march 7th difficulty =5.7 billion =.07 btc mined (.007 btc per day x 10 days)
at which point the miner would start costing more in electricity then its producing if the price stays what it is now.

to sum up:
miner cost 3btc
miner produces 1.6 btc in its lifetime
38  Bitcoin / Group buys / Re: [GROUP BUY6] New Years Eve Thank You Giveaway Bitmain Antminer S1 180GH 3 BTC on: December 31, 2013, 02:40:22 PM
or maybe it has something to do with the fact that, assuming a 30% difficulty increase every 10 days, this miner costing 3btc will only generated about 2 btc before it is no longer profitable Tongue
39  Bitcoin / Group buys / Re: [GROUP BUY6] New Years Eve Thank You Giveaway Bitmain Antminer S1 180GH 3 BTC on: December 31, 2013, 02:29:32 PM
maybe its because the raffle gives away for every 25th or 100th person, no one wants to be first Tongue with a 0% chance of winning Tongue
40  Bitcoin / Group buys / Re: [GROUP BUY6] New Years Eve Thank You Giveaway Bitmain Antminer S1 180GH 3 BTC on: December 31, 2013, 02:10:46 PM
5 hours later and 0 sold huh?  Tongue
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