Will we hit a market cap of 10,000,000,000 USD in two years? With 13,125,000 bitcoins, the price would be $761 / BTC   Yeah, no. I don't think we're likely to see a market cap of $1,000,000,000 in 2 years let alone 10x that. If bitcoin survives long enough, maybe in a decade. The market depth is still too weak for us to be through with single digits yet, and I'm guessing we'll be taking another deep dive into single digits during the next year. |
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I think this weekend is going to bring an epic sell-off.
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I think this is just the expected bump off of the conference. It'll settle back down soon enough is my guess.
Or not....get your mind around the fact that bitcoin blocks will be 25 in 2.5 months. Then a price of $12.50 a bitcoin becomes "cheap" I have thought about it, and my considered response is that the block reward change probably has already been priced in and, when it happens, or around its happening, there won't be much change. I still fully expect we'll see single digits in 2013. And in my considered opinion, your powers of prediction are somewhat lacking. It wasn't too long ago you were adamant 7.20 was the all time high for 2012. And now I'm adamant that $15.xx will be the all time high for 2012. This time I'm sure I'm right. |
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There are a lot of flaws with bitcoins, and it pioneered cryptocurrency. But do we still dial up to BBSes today? Use gopher? No, it has being replaced by the world wide web. Bitcoins will be replaced, don't put your life savings in.
The World Wide Web as we know it today is the product of layers upon layers of protocols added over time to address various problems, so, you know, you don't always just toss out the base and start over. |
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I think this is just the expected bump off of the conference. It'll settle back down soon enough is my guess.
Or not....get your mind around the fact that bitcoin blocks will be 25 in 2.5 months. Then a price of $12.50 a bitcoin becomes "cheap" I have thought about it, and my considered response is that the block reward change probably has already been priced in and, when it happens, or around its happening, there won't be much change. I still fully expect we'll see single digits in 2013. |
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I think this is just the expected bump off of the conference. It'll settle back down soon enough is my guess.
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+1
Donald, Amir, Patrick, Please don't bankroll your internal feud with the captive funds of Bitcoinica customers.
In the meantime, let's support them at the conference! Yay! Maybe next year pirate can organize the bitcoin conference, or maybe both parties should. After all, what these guys have in common is that they operated the most successful bitcoin business model to date (the run-off-with-the-money model). |
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Could you ask them what is their plan to help creditors get their money back ?
It looks like their strategy is to bury their head in the sand, and hope for the best...
They probably won't do anything unless it goes to court. Because maybe that way they'll get lucky and get to keep everyone else's money. I wish you all the best in perpetrating one of the biggest thefts in bitcoin history. Good luck! |
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In a practical sense, they are thieves.
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Why is this being posted on the forums? It's something to be sent to and between lawyers. This is just stiring the shit.
Really this SHOULD go to court, not just for the liquidation but for the theft and for other laws broken.
To ask or even expect this jpeg to be signed before the weekend is beyond wishful thinking.
If they're not going to cooperate then I want them to have to publicly state that. Why these guys are still running around in this community and the project is beyond me. |
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Requiring a hard fork to add extra decimal places is a significant, breaking change to the bitcoin protocol and should not be taken lightly or assumed to be part of the specification.
I was only making that clear.
And they will never be infinitely divisible as there would have to be an infinite number of bits.
Fair enough. In any event, it's difficult to imagine 8 decimal places not being sufficient. I still don't understand why it isn't possible to always be able to add one more decimal place to the right. |
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Yes they are lost for good. The currency is divisible to 8 decimal places and potentially further if there is a significant need and a code change. So the currency can adapt in its silly way.
Bitcoins are not "infinitely divisible" as a lot of people will say though. A hard fork of the code is required to add additional decimal places. This is not a simple matter in the least.
What is the limit on the potential divisibility that you admit exists? |
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So, I've been curious about what happens to those "lost" bitcoins that are out there. Whether they were sent to the wrong address or sitting in someone's locked wallet with no way of recovering; are they lost for good? If so, would it be accurate to say that since there are a set amount of bitcoins out there, the amount of "accessible" bitcoins would continue to decrease as these mistakes happen? How does that affect the viability of the currency as a whole?
Yes, the amount of accessible bitcoins will continue to decrease as bitcoins are "lost". It doesn't matter for the usability of bitcoin in a technical sense because they are infinitely divisible. Lost bitcoins probably help push the price up if anything. |
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Maybe its too early to say, but I think we are in wall eating mode right now  ib4 next dump below $11. |
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Could this be our millionarrr deciding to buy his coins 1500 at a time? lol
No. There is no millionaire with Almost $2m in MtGox. It's a glitch. Really? Why do I never hear about these things sooner! Link?  you go. |
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Could this be our millionarrr deciding to buy his coins 1500 at a time? lol
No. There is no millionaire with Almost $2m in MtGox. It's a glitch. |
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Cool. So sell at $11.3x, buy under $11. Repeat. |
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Here's a thought. Somebody with bitcoin to sell figured out how to mess with feed data. Put up big wall, people place bids ahead of wall, sell into bids.
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holy shit here comes the rally of a life time
I look forward to a good hardy facepalm when this is all sorted out. |
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