Good job, I seriously LOLed at "Economic Bullshit Bingo 101". Nice to see a coherent effort into getting people interested in this. Excellent work!

They have no way of associating a given public key with a client's wallet. Nice graphs though, but not really 'proving' anything worthwhile.

Good try, but I've seen more effective trolls than you. But they were probably better educated.

I guess your inferior trolling is a knock-on effect from being stupid enough to PAY a site operator to post. Protip: The internet exists at work also. That may come as a shock to you, being locked in to your SomethingLAWLful forum. You really need to get out more.

(P.S. The internet is also available on a new-fangled invention called a 'smartphone'.)

Feel free to donate your coins to me if you find them so useless. Also, you might want to get rid of your donation address if you don't care about bitcoin anymore.

Unless you're just trolling, of course.

Somethingawful used to be relevant, now its a badly-aging reminder of the 2000's. Its hilarious he gets people to pay him to post. I guess that is the test, to see if they are stupid enough to do so. Given that most of the country is filled with idiots, I'm sure he does quite well.

I mean, look at the quality posts from JeffK - aren't you lawling over it? No? Oh, that's right, we don't pay here - and we actually have lives.

Even if banks managed to catch up in transaction speed and security, I wouldn't use them. Screw them, honestly. I'd rather give a miner a fair transaction fee than pump up a banks stock because I do business with them. I'm tired of 'too big to fail', hands out for money in times of trouble -- all of it.

Executive summary:

Fuck banks, viva bitcoin.

I'd keep an eye on Dwolla and Liberty Reserve. These transaction processors are key in observing overall exchange velocity. As for bitcoin-to-bitcoin transactions, you can only ballpark from sites like bitcoinmonitor.com - as most users have more than one wallet that they are sending coins to and from. (And you have to account for people doing their own 'remixing' as they bounce funds from one address they control to another.)

Dwolla reaching large transaction volumes speaks to the bitcoin story. Like most, I didn't hear about them until I learned about bitcoin.

Looking at the combined order book depth, seems we'll be in the 13.50 - 14.00 range to me. I'm interested to see what will happen when the lag time from the CNN story reaches about one week plus.

Perhaps Google plus might be a good alternative? I used to use Facebook before they started to make unannounced interface changes and horrible privacy-leaking tweaks. Too much fail, I moved on. I don't have a google plus invite or I would - but I'm sure someone here can do so.

I think paralegals should get back to bate-stamping, processing documents from discovery and all that wonderful stuff their bosses make them do over the weekend.

Unless you've passed the bar exam, don't come here with your sensationalist legal tripe.

Thanks.

Sorry "L33T LIEK JEFFK", that is incorrect. There is no 'peg', only a floating exchange rate determined by the market.

You guys realize that dollar debasement results in more dollars needed to price in equivalent value? So the dollar-based price would in fact rise. Part of that dynamic is happening in gold right now.

The simple answer is, once they realize there is money flowing - they will want their piece of the pie. Of course, that could have unintended consequences of spurring growth into bitcoin in general, since if you don't exchange it at the 'edges' for anything, how do you tax the blockchain?

You don't. Pure bitcoin transactions with no edge currency transfer would fall out of the domain of conventional trade, at least for a while. Perhaps long enough to incubate some serious growth.

This early article on bitcoin by The Economist is one of the better ones:

http://www.economist.com/blogs/babbage/2011/06/virtual-currency

Not directly, but there is an influence on my model that is of the SIN(x) variety. That would account for the large variation projecting forward. Think I'll stick with my indicators on the charts though, been getting better results with that, even though I can't say *when* something will happen, just what side to be on.

Glad I was wrong, but now I have to go back to the drawing board.

I see on some of my charts that we are setting up for another thrust up. I can't tell you the exact timing, just the pressure is there. Back to scrutinizing the daily charts...

Some of my proprietary indicators are pointing to upward pressure accumulating here. Won't know until further into this week, however. My timescale of choice is Daily bars. Guess we'll see...

The past increase in difficulty to 1,690,906 was one of the smallest in a while. This may change a few things when it comes to the 'cash out' or 'turn off rig' expectations.

I'm very interested to see what the next increase/decrease will bring.

@bitcola

The parent post is just plain embarrassing. In the age of the internet, you could easily research a few things and see you are way off the mark. Lets deconstruct, shall we?


"Recent days events" eh? Care to provide, you know, some elaboration to your claims? I really detest open-ended fluffery. Give what you are saying some weight, or don't post it at all.


Again, priced against what? If we have to assume from your statement that it is in US Dollars, fine - but make it clear. This will save you future heartache when people dissect your logic.

I shake my head when I see the 'lack of movement' rationale. You're saying that a currency that has some kind of plateau of stable pricing isn't good enough? Do you realize the markets you are comparing are several orders of magnitude off from each other?

What exactly compelled you to put your foot in your mouth? I'm at a loss to even attempt explaining it.

Yeah, I know. The whole trading transaction thing is all well and good - but I don't know how to handle the edges where a level of trust is required.

Just threw it out there in case someone has a 'satoshi' and figures it out.