There are tons of example code on how to make a http server in node or how to select data from a database table.

I suggest you be not afraid and dive in. Coding is fun. However I also suggest you don't give your bot access to too much money.

It's probably a good idea to build a kind of simulation sandbox first (simulated mtgox server running historic trades), so you can test your bot in a sandbox.

Giffen good, which was also mentioned here, is completely different. It has nothing to do with a virtuous cycle between price and demand, it's just a rising demand for inferior product despite rising prices because a preferred alternative becomes prohibitively expensive. Since there is no "better alternative" to Bitcoin, this obviously does not apply to our situation.

If this were a zit, I'd pop it:

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zxzi1gRSI

That would be incorrect. I haven't heard of anyone buying BTC for status yet. If you think BTC will be worth more tomorrow it makes sense to buy it now.

This makes absolutely no sense.  So what you're saying is China doesn't need the US and only receives worthless paper.  If that's the case then why would they continue to trade?  Yes, China is the largest foreign holder of US debt but they continue to purchase it because they need to continue their (unsustainable) growth rate.  You can't simply take out the US and the European Union, which individually are double the GDP of China, and think everything will be hunky dory.

Why do you think Germany is still in the Euro and continues to bail out countries like Greece?  Germany is hardly known for their charitable nature.  The reason is if they left the Euro and returned to the Deutsche Mark they would be screwed.  Why?  Because like China they're a heavy exporter and the strongest of the European union.  If they left, the Euro would rapidly devalue (as countries default on sovereign debt) and the Deutsche Mark would take off like a rocket.  Being a heavy exporter, this would cause a great amount of damage to their economy. 

Every country is doing what they're doing because it's in their best interest.  China isn't buying worthless paper because they love America.  Germany isn't saving Greece because they want a unified Europe.  No, they're doing it because it's economics 101 and if they don't, they go down with the ship too. 

i think you've been hoodwinked into buying this progaganda.

no doubt a recession/depression would be a downer for a couple of years but then we'd come out of it.  look at the recession of 1921 when the Fed did not intervene.  getting rid of the big banks wouldn't hurt the economy in the long run at all i say.  right now, they are just a bunch of parasites on the rest of us real wealth producers but that game is running out.

what do they say when you suspect there are shenanigans going on?  "look where the money goes".  and right now there is an enormous tax applied to the non financial sector to prop up the large financial bonuses of the bankers.  there is SO MUCH evidence to support this.  it's everywhere you look.  they don't even bother to hide it any more otherwise we could call them liars everyday.

back in 2009 there was alot of honest money, including mine, waiting on the sidelines to scoop up these bad assets at fair market value.  the Fed prevented that from happening.  we had a good chance to clear the markets, get rid of the dredge, and move those assets into more efficient, more honest hands.   instead, Bernanke/Obama saddles America with a doubling of the national debt in just 4 yrs, an explosion of the Feds balance sheet from $800B to >$3T now.  we abandon Federal budget accounting and we decide to mark to myth debt assets.  we abandon the rule of law and no one gets punished for wiping trillions of wealth of average ppls balance sheets.  this is unprecedented.  most of the house buying that has happened since has gone into the hands of banks and hedge funds, not working households.  just how sustainable and long lasting is that?  answer:  its not.  they either dump at the first profitable benchmark they set or they are forced to dump in an escalating downward spiral which in the end means that those bad loans will get dumped onto the taxpayer once again.

how do i know that this is non-sustaining?  look at Europe.  eventually the debt payments catch up to the ability to service that debt.  if incomes across America were going up across the board at the same rate, we'd have a chance.  if the average American were allowed to go to the Fed discount window and borrow at 0%, you'd have a point.  if the average American were allowed to dump their bad mortgages onto the backs of the collective taxpayers like the banks do, then i'd say ok.  but that's not how the system works.  this is WHY you see income disparity levels never seen since 1929 just before the Great Depression.

the debt NEVER disappears and the debasing NEVER stops.  that's the problem.

Printing press?

OMG You are so mean!!!  GRow a HEart!!11

if you live in America, the only paychecks that have gone up are for those in the banking industry.  record bonuses over the last 4 yrs.  too bad everyone else's paychecks have gone down.

Currency de-valuation means de-valued relative to other currencies. It doesn't affect people who deal only in that currency beyond the price of imports going up.

ASICs are still a pie in the sky dream for the most part, however at any moment with the demonstrated existence of them, someone could rock/fork the network, before/if the first units arrive in anyone elses hands. Same thing historically could have happened with whomever it was who produced the software to mine on GPUs.

Very close.  I sound like this, though.