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Here's my guess, in a week we'll probably look back at this dump as setting the direction of the response to the block halving.
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Are you still short at 11.6x? |
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i am sure you are bullish because u dint put red circles on the bid side Are you still short? |
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Order book USD volume on MtGox is back over $2m for the first time in a while. This is probably indicative of a significant portion of the money from the sell-off positioning itself again.
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(i am out)
 That was obvious from your last few posts. and should be obvious that now i am trolling  FTFY Damn you, myself! I shorted because of what you said. |
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If/when amazon accepts Bitcoin Paypal is finished.
And it wouldn't surprise me to see Amazon stand up to legal challenges either over accepting Bitcoin. I gained a lot of respect for Amazon after they boycotted states that instituted an online sales tax. California even backed down after they did that. It was awesome!
My joking with Tony aside, if that ever does happen, I suspect it'll be a looooong way down the road. This isn't a judgment, but an observation -- Amazon is heavily entrenched in and dependent on the traditional financial system, and its providers probably have an interest in compelling a company like Amazon from getting involved with bitcoin. |
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Seriously though, if you're PayPal right now, this should be concerning. It's not that this instance is going to have any noticeable effect on their bottom line, but, from PayPal's perspective, this isn't something you'd want to turn into a trend.
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Just takes one to get the party started. Then it is just a matter of playing follow the leader.  This. Your move Reddit. |
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This is very exciting news. i was in the middle of a 7 hour drive when the announcement broke, so I'm catching up on all of the news now. It looks like the press is picking up the story so I would expect much more coverage on Friday.
We have been working with Wordpress for about 3 months on this project. It is exciting to see it finally launched!
Tony
Oh yea! What else have you been working on behind our backs, Tony?  Amazon. He's probably working on Amazon behind our backs.  |
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This is huge. It's provoking a lot of good reactions
I bet this serves as a catalyst for Reddit, "Well, if they're gonna do it...". |
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WordPress to accept bitcoins due to PayPal, credit card blocks The blogging platform said accepting bitcoins will open up payments from countries not served by PayPal and credit cards Jeremy Kirk 2012-11-16 http://www.goodgearguide.com.au/article/442274/wordpress_accept_bitcoins_due_paypal_credit_card_blocks/WordPress said Thursday it will accept bitcoins, opening up the blogging platform to payments from users in countries not supported by PayPal or credit card companies. ... Since bitcoin's debut in 2009, a small but growing number of merchants are accepting the currency, but it has not seen mass adoption in part due to a lack of easy-to-use software tools, an unstable exchange rate and concerns over how governments may regulate it. ... Wow. |
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kentrolla is just trying to be a counter force to myself's ominous predictions about a move down to around $5.
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So, this is kind of a big deal, right? If he wasn't telling the truth about not having the coins, and they were on something of what the Feds confiscated, then the US government is sort of the largest holder of bitcoins...
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As a miner i am glad still above 10.
If i was a speculator i would be shocked if still above 10 by christmas.
i guess miners make for poor speculators then, i see that as a good sign  It's hard to forget that every coin at some point belongs to a miner, I'm disappointed in you. when miners sell thinking " muahahah FREE MONEY ... minus electric bill i made profit  ", I lol I think miners are more pragmatic and logical then speculators. I say this through reading many many mining threads that a lot of miners do not see the huge value with btc in current bitcoin economy. We suck usd out non stop and never bring it back. This is prob due to us seeing it as a speculative business that requires roi, fixed costs, hardware assets, etc... People who buy btc to hopefully sell for more later are just looking for the bigger fool. Sounds harsh but it is basically true. We have a plan if btc fails by selling assets and know we wont lose everything. speculators in btc, not necessarily traders, those true believers may very well ride it down to pennies on the dollar. Or it could goto the moon. Miners want a fair return on investment and do not shoot for the moon. We are more reasonable and calculated based on possible outcomes. So saying we are poor speculators is untrue. The amount of money i put in and my return is probably greater then yours. The turtle, boring turtle, can win the race over the rabid speculative rabbit. :-) what is the "current bitcoin economy" did you factor in the 60 bitcoin i send as payment to my dad? how about the 1 bitcoin i traded for 1 gram of weed? how could you know, these trades never and will probably never hit the exchange, a lot of my trades didn't even hit the blockchain (Casascius coins to buy into friendly poker games). I think everyone is totally underestimating the economy, because its not very big, and its spared thin through out the globe. So from any small shop's perceptive, bitcoin economy is very small, but small things add up quick ... Small? It is tiny when one gambling site can make up a significant portion of transactions per day. Another good chunk of those transactions are pools, miners, and exchanges. What is left really? About 10k other transactions which still are mostly nothing much to get excited about. Lets be generous and say another 5k of transactions off the blockchain. So after all this time we are still at the point of 15k transactions per day yet somehow btc is worth 11ish each? Insanity. 5 is still too high. 10 million plus btc mined times 11 usd and we see 15k of transactions? In my opinion 3000 transaction per day of quality examples of bitcoins use take place. 3 measily thousand. And by quality i mean no silk road, no gambling, no pools, miners, exchanges, shuffling btc around to diff wallets, mixing stolen btc, testing/experimenting, speculation etc... by quality i mean selling legal goods, pay for hire, etc... So yea... i do not see a huge value and others do too. So far the growth of transactions has been in areas that are disappointing to say the least. But hey.... As long as i can make a buck i am cool with it. 3000 transactions minus all the stuff you listed? I think that's being very, very generous. To be honest, I'd be surprised to learn it's more than 1000. |
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Just paid for a year of privateinternetaccess. God, I love using bitcoin.
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I intend to spend some coins at privateinternetaccess.com. |
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Disclosure: I'm the author of the article.
Yeah, the goal was flat-out to be 100% introductory. When we were coming up with ideas for this series, we were floating around various topics and the subject of Bitcoin came up and everyone basically went, "what?" I made the mistake of answering the email with a succinct answer and drafted myself into writing the piece. My goal (and I hope I achieved it) was to be technically accurate but explain Bitcoin to people who have heard the term but have no idea what it is or how it works.
I'm actually quite interested in writing something longer-form about the arbitrage around Bitcoin as well as the "investment funds" as I think it's an interesting macro economics study, but realistically speaking, it's difficult to dive into that sort of subject with our audience unless we have a primer first.
The good news is that the response to the article -- niggles about Mint Chip aside (and to be clear, I wasn't trying to say Mint Chip is just like Bitcoin, merely that it carries along some similar ideas, albeit with different requirements and executions) -- was positive and readers seem genuinely interested in learning more about the subject.
In fact, I was talking with one of my co-workers today about the possibility of exploring more topics in this vein. You have to start somewhere.
FWIW, I thought it a nice article overall and understood it as introductory. Also, welcome. It's nice when authors chime in here. |
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Meanwhile on mtgox: sell your coins, INTO MY BIDS muahahaha I suspect people are going to do that, and more. |
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