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221  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 06:19:05 PM
Your money is going be to waiting a long time then. I doubt we retest $400 at all.

People here have been telling me this all the way down from 1000$.
What I have learned is that most people here have no clue what they're talking about. So, I think that I can manage without your advice.
Without the coming of new markets with proper volume, in new geographical locations, everything above 300 is too fragile for my taste. And I don't care if I miss out some temporal rises, because buying and selling those is not trading but gambling.
222  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:56:19 PM
Damn, I knew I should have sold at 525 before I went to bed  Angry
Are we expecting big movements today or just slow up/down trend?

it is down on both btc-e and stamp

My money goes to a slow downfall for a couple of days, with couple of bulltraps incl.
I still think that bitcoin won't be an attractive investment until it goes to 200-300$ region.
223  Bitcoin / Bitcoin Discussion / Re: Who should be BTC Foundation's Replacement for Karpeles on: February 25, 2014, 05:51:36 PM
Eric Cartman would be logical replacement at this point



Eric Cartman and Mark Karpeles isn't the same person?
224  Bitcoin / Bitcoin Discussion / Re: iPhone 5 phones destroyed in protest against Apple's anti-Bitcoin actions on: February 25, 2014, 05:50:33 PM
Things like this actually increase the cult status of bitcoin, and that actually drives a lot of new potential adopters away because it associates with pyramid/ponzi schemes. People usually act crazy when they are trapped in some pyramid while desperately trying to market their overpriced product.
Just stay calm, and don't try to act like bitcoin is the holy savior of the world.
225  Economy / Speculation / Re: CONFIRMED: Karpeles bought Gox.com domain on: February 25, 2014, 05:38:31 PM
Don't underestimate the chance, that this "sellout" will actually be illusionary. With proper paperwork, Karpeles can just hide his ownership of the new "gox".
If gox is in fact sold, then they are doing it sloppy. What they should be doing at the moment are public statements to specify all the details involved. The only goal to buy gox would be to save the integrity of the bitcoin market system. You can't do that while your actions are secretive and unclear.

Currently my money goes on Karpeles just spinning more plates to get as much money out of bitcoin as possible. If the new owners are unknown or like to remain anonymous, then I'm quite sure of it.
226  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:19:24 PM
The comments on CNN's front page story really shows how the public is rooting for bitcoin to fail.
Boy, I can't wait to see those bashers' faces when we get to $10,000.

It will be the same as the bashers who called it a dead ponzi after the first crash and then continued to call it a ponzi during the next boom. They have no interest in learning about it. I think it will take full blown currency crisis before they spend some time trying understand what Bitcoin is.

That's exactly the thing, bitcoin is quite complex for the average Joe to understand, the principles, the working mechanisms are unlike anything there was before in the financial world.
People really cling to old beliefs and old thought patterns. All they do when hearing about bitcoin, is reading two or three news articles, written of course by absolutely clueless reporters who themselves
do not understand anything about technology, then in the end they come to the conclusion that it's just another volatile, high risk asset. They do not understand the revolutionary technology behind it, nor do they care. Until a giant catastrophe won't force them into bitcoin, literally force them to read and learn about what bitcoin really is, they will just repeat the same old lines, the same old beliefs that we alle have heard so often before. Those guys will still cry "ponzi" when bitcoin reaches 100k $, which I strongly believe, it will one day.


Bitcoin isn't a ponzi scheme, because it's just a neutral piece of software. What it is however, is a very good platform to grow ponzi schemes (goxes) on.
227  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:13:48 PM
jeremy liew asking lawsky to expedite regulation
What are they going to regulate anyway? There isn't really much they can do. If they regulate US based exchanges, exchanges will just open elsewhere (i.e., Singapore?).

The whole discussion of regulation is a pipe-dream.

I don't want regulation for the simple fact that I don't want an exchange which is going to report my trade history to a government.

Regulations don't have to come from state. The bitcoin market system can be self-regulatory when it would just get off it's ass and act. Nice to see that this idea isn't getting so much numb-minded "regulation is eeevil! eeevil I tell you! the free market will sort out everything!" as it got couple of weeks ago.

You can check out this topic: https://bitcointalk.org/index.php?topic=458364.msg5055548#msg5055548
228  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:02:10 PM
Something big is happening under our noses. The same thing happened in the early 1900 in the banking industry when people stopped trusting banks.

1) an event big enough that makes Bitcoin demand taint - to track coins.

2) over 6000 people on Reddit at the moment learning Bitcoin is working properly and not to trust bad actors.

Who will win? Taint or freedom?



Freedom? Freedom to change the current banksters with the sharks and geeks of the bitcoin community?
With bitcoins wealth distribution, it's a joke to talk how bitcoin is about freedom. It's just about wealth redistribution and I'm not so sure that uneducated geeks are actually better then educated banksters. Both lack ethics and moral, but one at least knows what he's doing.
229  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 04:58:34 PM
He is selling out, that's how I see this. Buying Gox.com domain is adding a bit of rebranding for the buyer.

If he is selling out, then this means that some rich bitcoin investors actually took responsibility and bailed out that exchange. I was calling for capable people to do that a couple of weeks ago. Got angry replies by most of the forum users for it, but it would be great if someone financially capable enough actually had the same vision.
I hope that they know that this acquisition doesn't mean anything if there won't be market regulations. They may have saved the bitcoin market system with saving gox, but without regulations there will be an increasing number of new goxes. All you have to do is build trust towards your exchange for a year, and then you will have enough loot to split with. Easiest profitable confidence trick of the modern times.

But anyway, I'm still skeptical about this acquisition rumor. History has shown that with MtGox, you can't be sure of anything.
230  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 04:47:08 PM

I think that it could actually be a nice idea that rpietila is going for. Sadly I think that his personality will get in the way of that idea.
231  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 04:40:16 PM
Domain investor Andy Booth has confirmed the sale of www.gox.com to Mark Karpeles.

http://www.coindesk.com/mt-gox-loses-340-million-bitcoin-rumoured-insolvent/

PS. I haven't seen this posted anywhere though I was sleeping at the time so you might have read it already.

It's funny how Karpeles sees the bitcoin community as a mindless flock of emus. You can take their money and use it for your personal risky investments, and then, all you have to do is create a new exchange and say sorry and promise to pay everything back when you can. And.. everything goes smoothly, because emus tend to hide their heads in the sand and hope that no action needs to be taken and the free market will eventually sort everything out.
I think that bitcoin is heaven for those who lack ethics or morals.
232  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 04:22:31 PM
Disclosure:

The rumor regarding Mt.Gox being bought out by a private investor should be CONFIRMED soon.

Some acknowledgeable sources have already released teasing material with pictures of Gox new Head Quarters:


yeayyy Cheesy Cheesy
I think I have been to that mansion. In SecondLife.

Picture of that manor in a less modified state:
http://upload.wikimedia.org/wikipedia/commons/0/05/Malla_m%C3%B5isa_peahoone_2012.jpg
It's funny that rpietila actually deleted this link from his thread.
If he is able enough to restore that manor, then my respects. Always good to see historical manors restored in my country.
I don't consider bad photoshopping as proper restoration though.
233  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 03:35:49 PM
It's funny how people think that this was the bottom again, while the issues causing the downfall haven't been solved and have even escalated.
234  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 05:54:49 PM
derp we already have multiple types of crypto. Doesn't change the fact bitcoin has the most money flowing in to development

You just can't comprehend, that the money isn't flowing into bitcoin, but into the development of handling cryptos in general?
235  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 05:42:20 PM
But Bitcoin is a protocol and therefore it is more sensible to compare it to the history of other protocols rather than computer games?

To an extent I agree I do not think this is a Higlander scenario

There can be more than one

Bitcoin is different from protocols because it does have a very specific unit price.
Imagine if e-mail would have been created in a way that later adopters have to fill the pockets of early adopters, so they can also send an e-mail. People wouldn't accept this and would create an alternative where everyone has a fair chance with using this protocol.
So, in my idea, bitcoin is not neutral enough to be called an protocol. Gaming suits better to it, especially with the amount of gambling that's happening at the markets.
236  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 05:31:38 PM

So do you think that the 3-4 year head start of the network and community means nothing ?

I agree that there maybe a better coin and it may do well and it may be competition to Bitcoin... but then the same is still true of Apple and Google


    If wishes were horses
    Beggars would ride:
    If turnips were bayonets
    I would wear one by my side

I agree that it means something, but if you want to develop into the range of 100bil.$+ market cap, then it's very little something.
It would be great if bitcoin could get it's act together and would speed up code development and the development of the market system.
237  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 05:24:22 PM
no they're building bitcoin infrastructure not googlecoin infrastructure..( some of this is proprietary). It has nothing do with being to big to fail.. its just we're strengthening it by making use of it in business.
It doesn't matter that they are building bitcoin infrastucture, because if "googlecoin" would be created, and it would be of better code quality, then they can easily just take in "googlecoin" aswell.
What I am telling you is that the support services are not dependent on bitcoin. So, it does not mean that the funds invested into the industry will guarantee the success of bitcoin.

Bitcoin is like the worlds first computer game. The entire industry won't concentrate in developing this single game. The industry will build many games with increasing levels of complexity and depth. The industry is not dependent of this one first game.
238  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 05:15:42 PM
You clearly have no clue what kind of money is being put in to developing bitcoins business infrastructure. Open source code like this doesn't foster persay private industry development because they can't patent and or sell the code as their own. However bitcoin is inadvertently being funded by all of us when we help build its infrastructure.

So, you see that good old "it's too big to fail" will hold up bitcoin.
You clearly have no clue that by building support services, then you are not dependent on bitcoin and you can jump cryptos with relatively easy reconfiguration. It's smart, because this idea has potential and they don't have to worry if bitcoin fails. There will always be a better coin, that can be pumped and marketed.
Creating a new coin has a lot of marketing value. If google would create a free open sourced coin, then it would profit enough from everyone calling it as "googlecoin". Open sourced project could be funded for advertisement perks.
I think that Bitcoins pride and joy is Armory, that makes bitcoin different from other alts. Armory is the program that let's you store your coins with cold wallet security and relative comfort at the same time. For instance, if someone would adopt Armory to an altcoin, then that altcoin would probably go to da m00n.
If someone can create a secure system with even better speed, usability and stability, for another coin. Then that coin would probably overtake bitcoin soon.
Currently the market is raw and stupid, and the price is 95% made up from hype. But in the future the quality of code will decide the winner coin.
This idea is important, so bitcoin will be facing some though competition.
239  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 04:50:44 PM

At one point btc-e will run with the money as well....for them its even easier than for Mark...the future is in second market exchanges

or a lot of small ones which will have LTC right from the beginnig, cause there is too much money at the older ones and too much

incentive for just running with it-----the central banks by their warnings even are endorsing it--- just watch the show at GOX Wink

Yeah, I agree. The future should be more decentralized. What has to go are pools and privately owned and unregulated exchanges. Something autonomously run has to be created. Hard to see how, but I have a feeling that it can be done.
240  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 24, 2014, 04:46:55 PM
You don't get it. Bitcoin's success won't be determined by fraudsters, hackers, the media, regulators or the Bitcoin foundation. This only determines the speed of adoption. It only allows smart money to get in at a lower price, improvements of the code, increased transparency and diversification of exchanges which will stabilize things in the future. Almost everything that is bad for Bitcoin the the short term makes it better in the long run. It doesn't even matter if some other cryptocurrency takes top spot. Ten years from no when there is still less than 20 million bitcoin and world population is over 12 billion, it will be worth much more than now.

What you don't get is that the bitcoin code is not special as an invention, but it is special as an innovation. Meaning that it can be copied and improved easily. Meaning it's just a matter of time when it will get replaced.
Only reason why it hasn't been replaced yet is that there are no serious teams with experience and financial backing. Most altcoins are made by students and hobbyists, just for the fun of it. So, it's not hard to understand why there isn't any serious competition yet.
But the time will come, because this idea is an important step in the evolution of finance. To create an transparent open sourced monetary system that is supported by the internet. Bitcoin is too simplistic and childish to fill the shoes of that idea. If bitcoin would have faster development, then I would believe that bitcoin could evolve enough to fit the spot. But to me, it's more probable, that a more capable team will pick up this idea and make something that is better and developing faster.
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