Yeah, I know, but I prefer the word "liquidate" for two reasons: 1. Over time bitcoin will become a more "liquid" currency than fiats  2.Over time that part of shithole history of bitcoin should become relevant no more. |
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(31.3+28)/2=29.65, about where we are.
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Nah, you can make unalterable timestamps with BBQcoin.
Oh wait, how difficult exactly do you need it to be for a 51% attacker to alter?
(Actually though I think people have pointed before to cheaper timestamping technologies.)
-MarkM-
Realistically, a 51% attack would only happen when the number of Bitcoin users drops to 1, that would be when it really irreversibly dies, otherwise it would be silly to even attempt such an attack, as long as you're not government/some powerful organizations whose sole purpose of involvement is to destroy Bitcoin. |
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It could be used as an unalterable and indestructible proof that some information(e.g., a certian value) is sent from one online identity to another, as long as the infrastructure is still there, fiats can't do this because there is no way you can prove the total amount of money in circulation when the money was given to you. So in case that no more exchange exists, people keeping large amount of bitcoins could still use it as a medium of exchange, or at least as a ledger.
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The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall.
Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013.
Good point, it's actually a part of Bitcoin's "past" which should be buried. |
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Thanks, useful. How do you fetch updates, or you recreate the full table every time?
I usually only ever do this like once a month. If someone makes a script or something, please share. I'd do it for money because my own need for it is low The bitcoinchart.com api takes a start-time (unix time), that should be passed as "select max(unixtime) from trades;". I'm not sure how the \copy command behaves (wether or not it overwrites data or how that can be configured) How is the size of the CSV file? Also I don't recommend people updating their databases too frequently, bitcoinchart is already under quite a bit of load and went 503 from time to time. 142 MB tcatm recently told me at ccc it wasn't a problem for the server. I'm all for figuring out a way to do updates, though. Molecular what are the programs you used for trading? Also give me your donation address please? |
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Thanks, useful. How do you fetch updates, or you recreate the full table every time?
I usually only ever do this like once a month. If someone makes a script or something, please share. I'd do it for money because my own need for it is low The bitcoinchart.com api takes a start-time (unix time), that should be passed as "select max(unixtime) from trades;". I'm not sure how the \copy command behaves (wether or not it overwrites data or how that can be configured) How is the size of the CSV file? Also I don't recommend people updating their databases too frequently, bitcoinchart is already under quite a bit of load and went 503 from time to time. |
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Sorry, I think there is something wrong with the 2010 volume in USD...
Hmm? You do realize BTC was worth nothing at that time? Never below $0.01 after Gox opened, $0.00001 something is outright impossible yes, you're correct. something wrong... might also affect the other years... checking. EDIT: oh goddamnit, I accidentally used an old script for this. The datatypes are wrong, everything was imported as integer with 0 decimal places. I'm sorry. I will fix this... will take a while. EDIT2 corrected OP. you can fix things by doing this: mtgox=# drop table trades;
DROP TABLE
mtgox=# create table trades (id serial, unixtime int, t timestamp, price numeric(32,10), volume numeric(32,8));
NOTICE: CREATE TABLE will create implicit sequence "trades_id_seq" for serial column "trades.id"
CREATE TABLE
mtgox=# \copy trades(unixtime,price,volume) from 'trades.csv' delimiters ',' csv;
mtgox=# update trades set t = TIMESTAMP 'epoch' + unixtime * INTERVAL '1 second';
UPDATE 3563178
EDIT3: fixed my other 2 posts containing queries. The values for the years >=2011 changed only "slightly". EDIT4: anyone knowledgable with postgres have a suggestion what datatype to best use for the monetary values? Thanks, I guessed this would be a floating point problem.  |
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Many bears will be liquidated.
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I pulled some random numbers out of my ass and drafted up a theory yesterday: when we broke $20, the market was in a state of indecision and lost its pace, it rammed directly into the $21 territory, all the way up to the $21.43, and then crashed back to $18 before bounced back. So if past could tell anything about the future, when we broke $30, the market will repeat the same pattern. Turns out that a prediction coming from reading tea leaves is not always too far off. Now the serious part: Bears would want to seize the opportunity of $32 as much as bulls, if they manage to halt bulls' advance at exactly this point, things would not work out well in bulls' favor, the hype which is supposed to be generated by "Bitcoin breaking all-time high" will turn into doom and gloom with "Bitcoin failed at $32 and crashed again", at least that's what bears have in mind I believe. |
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can you imagine what type of principles governing their chain that the gov't would come up with? probably something like a Ripple where the originators get to keep 20% of the original coin, lol. what a farce. that's why i'm not a fan of Ripple and would never support it. chains have to support the majority of participants, not just the interests of a few.
The eventuality for Ripple should be no different from what exists with Bitcoin now - large balances held by the originators (or assumed to be early adopters in Bitcoin). It'll be functionally decentralized with an equivalent level of adoption as Bitcoin has. Of course, the server source remains to be seen, but the concept is strong. look how much push back ppl have around here about "early adopter" advantage even though that's a myth about Bitcoin. for Ripple, its not a myth. its a fact. what OpenCoin is trying to do is create a new currency w/o anybody doing any work and based on trust. they're handing them out for free which is what they'll be worth in the end; nothing. nobody talks about the fees that they will be charging everyone to ensure "security". what they mean is their security based on their own principles. if they have to issue a bunch more XRP's to keep it all going, i'm sure they won't hesitate. the whole system actually reminds me of the derivatives market. it's based on trust btwn ppl in this interconnecting web of actors. everything's fine when it's going well but if a crisis hits, trust will evaporate instantly. What we are seeing now is a constant reminder that early adopters gonna redistribute their coins at discounted prices periodically.  |
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Bears, I love you! Someone just can't wait to fill my loan.  |
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In the end, you will know Bitcoin is incredibly fair to everyone. |
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Sorry, I think there is something wrong with the 2010 volume in USD...
Hmm? You do realize BTC was worth nothing at that time? Never below $0.01 after Gox opened, $0.00001 something is outright impossible |
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Sorry, I think there is something wrong with the 2010 volume in USD...
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Gox should made no less than $1 million last year, it seems.
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How long have we been thinking this day was coming, Techno? It's a bit surreal. When the 2011 high happened, I was a Bitcoin newbie. It happened 2 months after I first found out about Bitcoin. Now I consider myself an expert on the subject, and it's both a hobby and a business for me. I still remembered the excitement around then. Has anyone here ever capitulated? I did, right at the bottom of $2 I sold 30% of my holdings and buy back one day later with a small loss. |
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Would there be someone who made an ask order in June 2011, and forgot about it afterwards?
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10k more coins to 32 Why are you all taking about $32? Who cares about the poor little $31??  |
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We are waiting for the $32' ers to sell at a loss before we move up. This is also completely consistent with my opinion on my hunch.
shouldn't take long: mtgox=# select count(*) as cnt, sum(volume) as btc, sum(volume*price) as usd from trades where price >= 31.0;
-[ RECORD 1 ]----------------
cnt | 1544
btc | 13714.94400000
usd | 429606.3764527000000000
only 13K BTC were ever traded above $31. EDIT for those interested: mtgox=# select count(*) as cnt, sum(volume) as btc, sum(volume*price) as usd from trades where price >= 29.80;
-[ RECORD 1 ]-----------------
cnt | 5090
btc | 55666.28300000
usd | 1702948.0715991000000000
56K BTC have changed hands for a price above $29.80 (on mtGox). A bit off-topic, could you tell me the name of the shell you are using? Thanks. looks like SQL using a database containing all trades ever executed on mtgox. but i would also be interested in where to get such a database Yup, I think the same. |
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