something bizarre is going on that is certain.
-bm
I'm guessing there's no way to ever prove who is behind all of this. I guess we can just ask ourselves, who benefits? |
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^
Do you know when the summer sale is? I'm guessing you're pretty in tune with what's going on at steam one way or the other. When the summer sale comes, what can we expect from you? Games at the same price as the sale, or no? |
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when will bitcoin price will raise? today it is dropping like anything.
When bad news stop bombing bitcoin. It is just insane, every few days there is another bad news. Im realy wondering what exactly is being developed, aside from ponzi hype It was all good news for a long time there, what are you talking about? US marshal selling seized coins isn't even bad news at all. Ghash being stupid is just bitcoiners doing to themselves. It's not a new problem. |
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If you're just going to buy your bitcoin back and pay a spread while doing so, what's the point? How big of a discount are we talking here?
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51% of the accidents will not happen, I believe bitcoin team.
Too late  Explain? I've not heard any news about an attack yet? Not an attack, an "accidental" crossing of 50% is what I thought he meant. |
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Wow, very detailed charted overview. I'm surprised that BTC-E performed so poorly in a lot of areas - this is my exchange of choice. So far they have proved to be excellent (for me), I just hope that it doesn't turn into another Gox.
Thanks for sharing!
I can't say I'm surprised personally. While BTC-E has been around a long time and had few problems the fact of the matter is that it's an exchange that's shrouded in mystery. They definitely don't want governments knowing too much about them and I can't really say that I blame them. But they're never going to be considered a top tier exchange when it comes to safety unless they open up and before much more transparent. BTC-e does allow you to have additional privacy that other exchanges do not, however it also creates a greater possibility that something similar to what happened at GOX would happen there as there are just so many unknowns. I guess it's a risk some are willing to take in the name of anonymity. |
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Is there a service like bitpay but instead of converting bitcoin to usd, it can convert usd to bitcoin?
I think something like that might be necessary. I probably wouldn't want to invest in a store that only took bitcoin. At this point anyway...
This is would not be a "store" in the traditional sense, it is a business that would permit financial anonymity of the investors and founders. Such "Open Business" can't be implemented in current, existing business, only for new one. And not for a physical business, only knowledge, software, services, or "under radar" ones, at least until government does not embrace Bitcoin and such accounting practices. Bitpay break any anonymity, and hide financial operation (which happens off chain) from the eyes of the investors, thus breaking the open accountability of the founder. (Thanks to the published PaymentKey) The goal is to allow anonymity of both, founder and investors, but allowing trust despite of it by having the internal books of the business open to every investors. (And retrievable from the blockchain) Only bitcoin payments would permit to keep the anonymity of the founder, even if the book, and accountability is irrefutable and public thanks to the public "PaymentKey". All back and forth in currency would break anonymity but also hide operations from CC holders (investors). This is not meant for everyday business and physical store. And not meant for black market. But as a way to incentivize funding of an entrepreneurial project by bypassing any financial institution or institutional barrier. Let's be clear : Such "open business" would be a big legal problem, because normal business require banking account, and books in currencies. But I expect legislation to change to accommodate it when they would not be able to stop such business from flourishing. (thanks to backed-in anonymity of investors and founder) Maybe a good first way to try is out would probably be a bitcoin based gambling site. Where investors can invest their money and take out their profits at will without having to trust the site operator like they currently do. Would that be possible? |
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Hearstone. Getting bored very quick.
I was so excited when I got into the beta... And then I lost interest after maybe 3 days. Sad. I don't know why, but I really just don't find it very interesting. It's not bad or anything, I just can't make myself care about it. |
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Deadwood. It got cut short after only 3 seasons but it's still one of the best shows ever.
HBO's Rome is really good too. Only 2 seasons though.
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Something backing btc would mean that there is someone or some group who will always exchange a fix amount of something(like gold) for a fixed amount of btc.
For example: 1 BTC = -.5 oz of gold
Being able to buy gold does not in anyway back bitcoin.
And no one would ever think about backing bitcoin. They have nothing to gain.
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i dont get it ?
you want peopek to buy your art work ?
or you want people, your self includd to buy artwork.... ?
I think he wants the community to buy his art work and donate it to someone/somewhere on behalf of the community. |
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The ghash.io thing where people keep joining ghash faster it gets closer to 51% reminds me of the movie Untraceable where a serial killer ties up his victims and puts them on a Youtube feed with a system where the more people that are watching a video, the faster the victim dies, and then millions of viewers exponentially pile in to watch, brutally killing the victim.
Is it a good movie or it's just gore like saw?? There is some gore but it's not a just a gore movie - it is a movie about human psychology and how greedy people are, because everyone insists on watching the movie, which contributes to the victim dying. it's a pretty good movie, i remember watching it with my ex. but it's indeed a bit like the GHASH situation indeed, but in their defense, GHASH is still the best pool by far. <tinfoilhat> What if GHASH pays other pools to remain unattractive to miners? </tinfoilhat> What if someone wants to kill bitcoin simply pays more to miners than Ghash? |
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We should rather focus on the next 'paypal' that is solely based on bitcoin.... RATHER than get them to implement it with fiat..
Bitcoin is the PayPal with "only Bitcoin"  Not really. The transferring value part. But not the consumer protection(or stealing your money ) part. Also the currency conversion and things like that. Bitcoin is just a a barebones protocol. Eventually we'll see a bitcoin PayPal I think. |
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Is he concerned about a design flaw within Bitcoin or a design flaw with the open source project system?
ACH/EFT has had numerous attacks against it and numerous design flaws. The responsible team discovers the problem and corrects it, no big deal. That's what needs to happen with the design flaws within Bitcoin. The problem isn't that Bitcoin has a basic design flaw it's that no one is fixing it.
Solutions are already being talked about. http://www.reddit.com/r/Bitcoin/comments/282j4m/petamine_1150_ths_is_considering_joining_p2pool/P2Pool with a subsidy provided by the greater community (I'd throw them a couple coins a year) would do wonders. It could very easily become the most profitable place to mine if the community made it so. I'm anticipating this being the scenario in the not too distant future. I've been reading this 51% attack crap since early 2011 and it isn't fixed yet. Why? Is it because back then it was just Tycho, Slush, Eleuthria, Graet, LukeJr and a few others. They are all swell guys and would never hurt the network, right? Well, that's the thinking of a child's mind. You don't let a major issue sit unsolved for over three years where money is involved. I read a thread once where Gavin was talking to etotheipi and rambling on about prioritizing issues because he could only handle so much at a time. Tough shit. You can't handle the workload then get more people. Bitcoin is no longer here just to intellectually stimulate a select group of developers. It's real money we're talking about. You would think that the foundation might spend some of that money it's built up on more programmers. I'm sure there are lots of extremely talented people in the world who would love a chance to work on a challenging project like bitcoin. I don't even think it's about willing bodies to do the job. The ego of a control freak has stifled development for years now. I assumed when Gavin stepped down things would change but I guess I was wrong. I was hoping Wladimir would be more open to radically altering Bitcoin for the better. Especially since he's a damn good coder and the author of Dropship (effectively hacking Dropbox's servers). I guess I was wrong. Their going to sit on major necessary changes forever. The incentives aren't necessarily aligned with the way bitcoin works in regards to the dev team, in my opinion. The devs have no real reason to implement proactive protection because they major see changes as 'risky'. The main risk is that they get blamed for implementing a change incorrectly or making a mistake, thus taking the blame personally. So they have more motivation to stick with the status quo. I think soon enough bitcoins glacial pace will end up leading to it being just chapter one in the history of cryptocurrencies. Not the whole book. Everyone here likes to fantasize about Bitcoin replacing a national currency or a governments value transfer system. That's not possible as long as the advancement of Bitcoin is controlled by a select few frightened devs. Someone mentioned that devs might be so aligned with the infrastructure and business that implementing a sweeping change is impossible for them. Well, government payment systems like ACH/EFT can't be left to rot with major flaws or national financial systems crumble. Could you imagine a government spotting a basic design deficiency that allowed a possibly hostile foreign actor to destroy their financial system and then do nothing for 3+ years? I would never support Bitcoin as a national payment system because it's system of governance is flawed so badly that the collective authorities are willing to allow it to sit defenseless for years. Inaction is keeping Bitcoin at the level of a super high risk investment and nothing more. I think the bitcoin dev team ideally should be dynamic and ready to face challenges that might appear down road. They should have contingency code written already for any possible situation that could arise. Even if it takes a team of a hundred of coders it's better then sitting on their hands and waiting for problems to come to them(and then still ignoring them). |
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LTC is not gonna make it. Their devs and community is asleep, nothing much going for it. it is kinda shame.
Isn't it a little crazy that a community behind a coin with a 300 million dollar market cap is content to just let it fade away and become a footnote in the history of cryptocurrency? Has the Litecoin dev team done much over the years anyway? Does anyone have any links to show a timeline of upgrades or changes that they've made? |
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The Cryptocoin Value Cycle (CVC)
I was following the prices of the last years and found a cycle. The cycle lasts 7 to 9 months and starts then again from the beginning. If you stay in the right coins at the right time you can get a lot of money out of it. Of course this is only your decision and I may also be wrong. So don't blame me, if you loose ;-)
I just want you to participate on my findings.
To make sure, we are talking about the same.
You have 4 types of cryptocoins (of course this is only a approximation, some may be between):
- BTC
- IAs: new innovative Altcoins like NXT, DRK
- OAs: ordinary altcoins. founded older Altcoins like LTC, Dodge.
- DAs: dying Altcoins
I have to make these differences, because the IAs are often heavily undervalued and can have their own cycle on top of all where DAs are dropping no matter what. So I am talking only of OAs in general here. Its always good to be in IAs, it will grow for sure. They are maybe not so dependend on BTC price as a OA is. But they may also grow less or even drop in a phase, where OAs in general crash as a DA can even raise in a hype phase.
It may also be possible in the future, that IAs are taking over BTC and the Phases are getting based on them.
Here are the Phases:
1. Pre-Hype Phase
Bitcoin is raising a little, OAs can get a little downtrend in btc but mostly keep their market cap.
There can be a BTC bear trap in this time. This is a perfect invitation to buy a little more BTC.
Occurance: Feb 2013, Oct 2013, currently
2. Hype Phase
Bitcoin is skyrocketing. OAs are running along and keep the BTC exchange price, but by the end of the phase they skyrocket even more.
Bitcoin can get up to 10-fold in $, but of course there are sometimes cycles, where BTC "only" raises 3-fold. OAs can get up to 10-fold in BTC at the end. So you can make up to 100 fold in a good hype if you hold OAs!
Occurance: Mar/Apr 2013, November 2013, probably next month
3. Crash Phase
Bitcoin is dropping about 2/3. OAs are dropping even more. So its better to be not too much in Altcoins in this period. After the crash the OAs have about the same BTC trade rate as before the hype.
Occurance: Apr - Jun 2013, Dez 2013 - Mar 2014
4. Normalization Phase
BTC prices are rebounding and get maybe stable over a certain amount of time. OAs are also relativly stable.
Occurances: Aug/Sep 2013, May 2014
I hope you like it. If so, feel free to tip on the BTC address in my profile.
Lordoliver
Why do you believe that the hype phase is going to come next month? Just because it's been long enough, or is something going to happen? |
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The sale is a massive validation of Bitcoins fungibility and legality.
Why don't they keep it, so they own a stake in bitcoin for the foreseeable future? (or sell during the next few run ups) There is no 'they' in this case. I can't think of any part of the government that actively speculates for profit. Who would have the authority to authorize them to hold the coins? And what department would spend them and when? I think the US could have bitcoin reserves at some point way in the future, but I don't think they would come from seized coins. |
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It was just a correction. Not much related to SR bitcoins - just people taking profits. But if the rally was only Expedia insiders buying - than it is possible that it is over now when this is public. And even if not then most probably there will be be another leg of the correction soon.
If Expedia insiders were buying hoping for a bump on the announcement I bet they were pretty disappointed. |
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I think that the price that these coins sell for is going to say a lot about the current state of bitcoin.
If they go for much over spot it's a very good sign.
The deeper the discount the more I feel that would be a bad sign since there is no safer way to purchase a large amount of coins. And if the demand isn't there for this type of transaction then it's a bad sign.
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The majority of coins from 2009 are probably already gone or inaccessible.
10k coins from a wallet that was just sitting there anyway isn't going to have any effect on the market in the short term because the coins were not in circulation anyway.
In the long term all these losses add up to reduced supply of bitcoins.
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