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241  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 08:07:58 PM
This thread used to be informative & an enjoyable read.
It's a total embarrassment now.

Do mods exist on this forum?

There is but they seem to have an anti-bitcoiner agenda by deleting posts from long time members in good standing and trust and upholding trollish slander from nefarious neer-do-wells.  I wouldn't be surprised if the sock trolls ARE the mods in this case.

I'd like to see it improve but until moderation is at least honest it ain't gonna happen and I will torch this place to the ground by whatever means neccessary if it isn't already there.
242  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 07:57:44 PM

^Stop spinning this web of lies & just admit you're a liar, liar! Angry
Edit re. boldface: I never reported any of your crap to moderators, you're nowhere as relevant as you think.

Sure, it was probably just a moderator with not much else to do that picked my picture out of the shitstorm of crude and demeaning posts to delete on their own initiative. Right Roll Eyes

I think we all have a pretty good idea of who's lying Cheesy

243  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 07:39:59 PM
Some absolute crap getting discussed today on here.

Take it to off topic.

I agree.  Is this garbage what we want the newbies who just watched that CNN special to read when they hit bitcointalk and look at active threads?

I understand that there's a fine line between trolling and a completely valid bearish perspective.  So it is not right to moderate on-topic bearish posts.  But the trash I'm reading today is not the image we want to present to new bitcoiners.  Letting it stay here is a bad idea if you care about Bitcoin, even if you care but happen to be short today.

So I'm here posting on this thread to ask other bitcoiners to en-masse ask the moderators to start monitoring this thread until the off-topic trolling -- in fact all the off topic posting -- goes somewhere else.  

Please reply to this post if you agree!!!   Drown out the garbage posts with replies so the trolls see how little we appreciate their off-topic "contributions".

And also start clicking the "report to moderator" link on off-topic posts to this thread.[/size]

thanks,
theZerg

I agree completely. Moderation here really sucks and it's why the place has run amok with scumbags and chased away valued postings.  I've had the moderators remove one of my posts with this image in it, because someone was butthurt and didn't like it Roll Eyes  I wonder who that was? Roll Eyes









 

When I tried to return the favor to NotLambchop by reporting one of his despicable, slanderous, trollposts here:
https://bitcointalk.org/index.php?topic=178336.msg10550381#msg10550381

I reported it hours and hours ago and yet it remains up along with all the other off topic crappy shit this cretin and his troll sock knob-gobblers post. Incredible! What does it take to get some decent moderation and participation to make this most popular thread more bitcoin friendly without all the shitfest?  I like contrary opinions and views and love a good laugh but this is ridiculous to see on the front page of bitcoin talk.  

You mean this?  How is it slanderous, do you even know what the word means?


Don't turn a blind eye!
Help stop Bitcoin perverts!



My google isn't broken brah. I know what it means. Pedos will be pedos no matter whether bitcoin exists or not. As a matter of fact bitcoin is more likely to get them busted like Ross Ulbrict than save them from good police work. The association you are implying is unfair and slanderous to bitcoiners as a group and you know it. You are intentionally trying to make these types of associations repeatedly in lots of threads and have been for a long time. You can't take the heat when it is turned on you and run to the hall monitor when you get pwned. Fuck off.

How is it you both have me on ignore & respond to, quote & report my posts?  I don't think I'm interested in carrying on a conversation with you, a vindictive, habitual liar, caught red-handed in the act of lying.
Go lie elsewhere, liar! Angry



I ignored you without using the button for a long time until it just became sickening to see your carefully crafted yet misguided accusations and insults towards "bitcoiners" everywhere. Then, I used the ignore button and still do except to see what you are responding to my posts but of course I still see tons of quoted crap that appears in other's post. You are absolutely prolific in your trolling during business hours and it's really ruining the place and setting an example for the newbs. Your ability to get my harmlessly retaliatory image removed by mods is remarkable and it's one reason why you are getting my full attention and wrath now.
244  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 06:44:59 PM
...
When I tried to return the favor to NotLambchop by reporting one of his despicable, slanderous, trollposts here:
https://bitcointalk.org/index.php?topic=178336.msg10550381#msg10550381

I reported it hours and hours ago and yet it remains up along with all the other off topic crappy shit this cretin and his troll sock knob-gobblers post. Incredible! What does it take to get some decent moderation and participation to make this most popular thread more bitcoin friendly without all the shitfest?  I like contrary opinions and views and love a good laugh but this is ridiculous to see on the front page of bitcoin talk. 

You mean this?  How is it slanderous, do you even know what the word means?


Don't turn a blind eye!
Help stop Bitcoin perverts!



My google isn't broken brah. I know what it means. Pedos will be pedos no matter whether bitcoin exists or not. As a matter of fact bitcoin is more likely to get them busted like Ross Ulbrict than save them from good police work. The association you are implying is unfair and slanderous to bitcoiners as a group and you know it. You are intentionally trying to make these types of associations repeatedly in lots of threads and have been for a long time. You can't take the heat when it is turned on you and run to the hall monitor when you get pwned. Fuck off.
245  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 06:31:48 PM
I'd rather have off topic discussion than pages of low quality troll posts.

Agreed. I like this place as raucous as it can be in the best of times and hate to see it get crapped up so badly by a few malcontent bridge dwellers and possibly paid operatives.

 
246  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 06:25:40 PM
Some absolute crap getting discussed today on here.

Take it to off topic.

I agree.  Is this garbage what we want the newbies who just watched that CNN special to read when they hit bitcointalk and look at active threads?

I understand that there's a fine line between trolling and a completely valid bearish perspective.  So it is not right to moderate on-topic bearish posts.  But the trash I'm reading today is not the image we want to present to new bitcoiners.  Letting it stay here is a bad idea if you care about Bitcoin, even if you care but happen to be short today.

So I'm here posting on this thread to ask other bitcoiners to en-masse ask the moderators to start monitoring this thread until the off-topic trolling -- in fact all the off topic posting -- goes somewhere else. 

Please reply to this post if you agree!!!   Drown out the garbage posts with replies so the trolls see how little we appreciate their off-topic "contributions".

And also start clicking the "report to moderator" link on off-topic posts to this thread.[/size]

thanks,
theZerg

I agree completely. Moderation here really sucks and it's why the place has run amok with scumbags and chased away valued postings.  I've had the moderators remove one of my posts with this image in it, because someone was butthurt and didn't like it Roll Eyes  I wonder who that was? Roll Eyes









When I tried to return the favor to NotLambchop by reporting one of his despicable, slanderous, trollposts here:
https://bitcointalk.org/index.php?topic=178336.msg10550381#msg10550381

I reported it hours and hours ago and yet it remains up along with all the other off topic crappy shit this cretin and his troll sock knob-gobblers post. Incredible! What does it take to get some decent moderation and participation to make this most popular thread more bitcoin friendly without all the shitfest?  I like contrary opinions and views and love a good laugh but this is ridiculous to see on the front page of bitcoin talk. 
247  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 05:39:44 PM
I believe that it is not a coincidence that there are so few women who are "into" bitcoin.  Grin

bitcoin or computer science or engineering or any of the stuff that separates us from primitive subsistence-level savages.

When the first computer science courses opened in Brazil, women were often more that half of the students, and the brightest students were often women.  Over the years the proportion has dropped to the same level as in electrical and civil engineering, that is 5--10% or maybe less.

We had endless debates about why women don't apply to computer science anymore, with no conclusions.  It is not because computer science is "difficult". It is actually one of the professions where even dumb people can succeed.  There are plenty of women in medicine, chemistry, mathematics -- where you really need a functioning brain to work.  I taught intro computing to chemical engineering freshmen last semester, and to my surprise the class was again half women, and again some of the best students were women.

It must be some subtle thing in the popular image of the computer professional.  Perhaps the idea that he is an antisocial nerd who hardly leaves his mom's basement --- a way of life which may appeal to many adolescent men, but not to adolescent women.

Quote
women [ ... ] living in houses they didn't build, talking on phones they didn't invent, typing on computers they didn't program, driving cars they didn't design, going to stores they don't manage to spend money they didn't earn.

And you still think that men are more intelligent than women?  Cheesy

You can't even divide it up between genders like that, and I think BJA is a little off base there. We all have a relatively wide range of biological individuality (Except for maybe the Winkelvii Smiley )  Women tend toward different types of intelligence and other qualities than men as a group for whatever reason and we seem better off as a network for it. Women seem to tend toward social, emotional, and creative intelligence and men tend toward logical, rational, and physical intelligence but those are only tendencies and, again, wide ranges can be expected in any population.  Intelligence is a tough quantitative analysis to make and the tools are still crude at best.

It is an often repeated myth to say that all bitcoiners are men, white, etc. etc.  It's a pretty diverse group but of course the bell curve does lean heavily to the white male geek stereotype to the delight of naysayers who use that as some sort of racist, sexist argument against bitcoin tech. I reject that thinking and think some people should just get a life and go do something productive instead. 

  Case in point, it was only a small, hardcore group of men who were the initial enthusiasts for the Ultimate Fighting Championship. They were so hardcore, they would go train and fight for next to nothing in pay, fans would travel for miles to see the shows, etc.  UFC almost was shut down and experienced many times when either regulatory bodies or (John McCain) politiciansa called for bans.  There were less women in support of it than there is for bitcoin and most opposed it as violence.  Cooler heads prevailed though and now we are at a point of mass adoption where Rhonda Rousey is one of the biggest stars and draws of the show. She beautiful, intelligent, and tough as fucking nails. A good role model for empowering women IMO.








UFC is the fastest growing sport in the world now and that type of event only happened in Brazil a little over 20 years ago when I first found out about it and started watching and training MMA.  Bitcoin shows many of the same developments as the UFC in its early adoption on the way to mainstreaming.
248  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 08:32:56 AM
pretty pathetic bear raid attempt by the greedy noisy, bearpig trolls ... seems like it had to be done though as price was breaking out sideways so they are getting extremely desperate now, as we can tell from the synchronised hating fest that seemingly came from nowhere in time for the quietest time of the market ... chinese NY over tomorrow and fiat starts hitting the exchanges again, need to paint the tape for that

The beartrolls are scammers of the highest order. Worse than neobee or a host of other failed or scammy bitcoin ventures and are just as fraudulent in trying to scare emotionally or financially weak people out of their coins. At least the outright scams asked nicely instead of using fear or emotional engineering.  They lie about their objectives and try to obfuscate the truth by making it seem like their motivations for posting are out of moral duty to save fools from losing their money when in fact they are not ethical agents, just greedy book talkers or seriously confused dipshits

The short term price movements mean little in the face of what bitcoin has done in a very short time. Amateur hour is pretty much over. Stronger hands that are capable and ethically motivated are gearing up the engines and the real crooks are looking to game or exploit this experiment (which is expected and necessary).

However bad the first wave has been (Hello MagicalTux!), they did bootstrap a whole transparent world value ledger and multibillion dollar value economy to this point and must be lauded for their fearlessness of living on the lunatic fringe that also happen to be the spearhead of innovation. Here's to the ones crazy enough to think they can change the world.

TL;DR for newbies : Trollbear trader scammers want to cheat you out of your chance of a decent future stake in the most exciting technology/economy shift since the internet itself.  Don't be stupid and put yourself at risk in the short term markets and risk another gox, wait for legitimate and secure exchanges or even better just spend them directly when it is ubiquitous. Do this instead FTW!:

1. Buy as much as is comfortable and healthy for your budget at as close to the bottom of  long term bear cycles as possible.
 
2. Put duplicate private keys in cold storage in multiple safe locations and forget about them for a while.

3. learn and grow as an individual learning about economics, ethics, business, blockchain tech, etc. and develop your self discipline so when you have a lot of wealth you can use it wisely instead of what often happens to lottery winners, successful thieves or scammers, or other instantly rich, soon to be poor folks who often get very sick from not knowing how to handle all the stresses and temptations of managing wealth.

4. Have a long term vision and set goals for it, filling in the short term steps and details along the way.

5. Profit and enjoy your wealth and life with people who love you properly, building good things to exchange and taking on challenges to the benefit of yourself and your fellow humans.

 

Where is the "like" button. Wink

Wisdom is hard to find in a world of foolishness.

#1- Check (always wishing I had more to invest on the bottom of these cycles but that is the way it goes I guess)
#2- Check (thanks to technically minded husband)
#3- Check (this thread can be difficult to learn much on but I have actually learned quite a bit on other threads here!  I feel like I have had a crash course in Economics in just the little under 2 years I have been involved in the BTC community.  So much to learn)
#4- Check  (Patience is a virture.  Long term thinking is key.)
#5 Check (Had some "profit" but nothing really life changing yet.  The goal is to at least pay for our kids private college without any debt with the help of our BTC investments, God willing.)  Edit:  I did use a small amount of BTC, some of which was even gifted to me by one benevolent community member here, to go on an amazing and life changing trip to India a few months ago. I am looking forward to doing even more world-wide outreach when the funds are available to do so. Smiley

Great to hear Bitchick, I missed your reply in the scuffle earlier and don't only want to waste energy on that when there are better contributing members like yourself to respond to. Sounds like a plan for success for you and proof for any who would question it that there are plenty of longer term bitcoiners with level heads and a moral compass who may not be as vocal as the assclown posse are. Cheesy
249  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 08:32:28 AM
Notice I didn't say everyone else must not ignore him.

I think the guy's funny.

And I'm bullish on BTC's long term future... imagine that. I can ride this thing to 0, or 10k, and someone typing on a forum has nothing to do with it.





  Ok, carry on then. Different strokes for different folks Smiley  Edit: there was one pic notlambchop posted that made me lol so I will give him that.

P.S. Are you truly a newbie or have you been around for a while? You seem to be quite reasonable and knowledgeable about the forum.
250  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 08:06:24 AM
My ignore list stands and will stand at 0.

This forum has a proud tradition of good trolls. A check on hyperbole and dare I say... euphoria.

ElectricMucus
Proudhon
Walsoraj
notlambchop

The pretenders/socks are less funny.

If the coin fails, they get "lels". If not, they fade away, it's cheap entertainment.

If you can't take some criticism and hilarity about your cryptocoin investment, you're in the wrong game.


No, there is one on that list that does deserve ignoring by me at least (and many others claim to as well). Notlambchop shits the threads up at a feverish pace catapulting violent statist fiat delusional propaganda here in a dedicated bitcoin forum in almost every thread possible trying to scare the bejeezers out of anyone who might listen. That does not constitute "A check on hyperbole and dare I say... euphoria"

A check on hyperbole would be reasonable and polite discourse, not that.  I probably should ignore more people than I do but I reserve that privilege for the truly daft and insane and don't even want to glance at their cringe worthy and unfunny shit anymore.

BTW, notlambchop pulled a hall monitor move to get a post with this image removed by the moderators recently for being "off topic". butthurt much? Lel indeed!



 Shameful indeed.   Grin


Ok, I'm gonna step into this whirlpool and note that the likes of silverfurtune and billyjoeallen have been real intellectual boons to this thread. The trolls have went into hibernation when the bosses have taken hold of the reigns. Primarily, Mr SF ad BJA have made their points and are moving on to their next ones, soon. I just want to say thx to the bosses in due time.

Thanks, Man. Please don't feel the need to defend me against charges of racism, sexism or whatever the crimethink de jour is. Whatever my moral flaws, the reason why I advocate Bicoin is because it is money that doesn't need force or coercion in order to function.

Which would y'all rather have as a neighbor, a racist sexist homophobic who believes in the NonAggression Principle or an egalitarian who wants to make everyone equal by sticking guns in their faces?

Freedom means you have to put up with some unpleasant people with unpleasant ideas, but you don't have to put up with threats of violence by those who claim to be peaceful while having the State do their dirty work for them.

Me too on the NAP Billybob..it's revenge of the nerds part two Cheesy!

Thanks Ramsay, you are usually so mean a boss on tv Cheesy
251  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 04:13:59 AM
Your point?

Mine is, Bitcoin and the Drama it generates was funny and it got funnier.

It has it's moments but I don't think other's real pain or loss is funny really. There are lots of good things to laugh about in life and I enjoy a lot of that. It seems somewhat sick to laugh at certain things and there are some interesting notions on the psychology of schadenfreude lately.

http://www.livescience.com/17398-schadenfreude-affirmation.html

http://www.sciencemag.org/content/323/5916/937.abstract

But, carry on and don't let me tell you what to enjoy.
252  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 04:04:22 AM
-snip-
A socialista from 2011 tries to rally the team to trick bitcoiners out of their holdings and laughs endlessly when they are robbed. Nice Roll Eyes



I haven't been a goon for all that time, but I tricked Micera Poopscoop into buying me a forums account there with his credit card. (In case you wanna know)

Good to know. You are quite the trickster huh?

G'night forum.
253  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 04:00:08 AM
-snip-
A socialista from 2011 tries to rally the team to trick bitcoiners out of their holdings and laughs endlessly when they are robbed. Nice Roll Eyes

Is there a point to this or are you obsessed so much you really are skimming through my post history?

It was very easy, no skimming required, just search function. I'm obsessive about some things but not you, don't flatter yourself.

Here's my thoughts at a similar time:

I don't do a lot of trading but when I do it is to increase my bitcoin holdings.  I mine within my means so that I don't have to sell bitcoins to pay for power.  I could easily afford to lose my investment without much harm or loss but the upside for 5-10 years down the road holds a lot of potential. Some call it hoarding, I call it savings.

I agree, it's totally a "hobby" for me right now.  I've spent more on other hobbies.

Mind me asking when you started mining?  I'm just curious if people are still jumping into the game.  I started about June.  I see you have 22 posts, so welcome if you are new to it.  I encourage you to continue posting!

Thanks, I've lurked for a while but just signed up here recently. I started solo mining on my laptop in jan or feb of 2010. People will jump into the game as it suits their own interests.  I like the way mining bitcoin at this point does not incentivize huge monopolizing mining farms with the 2.XXXXXXXX price as the most are unlikely to want to speculate with so much equipment and electricity cost, yet it does encourage cooperation of smaller rigs in pools and thus wider distribution for those without time pressures.
254  Economy / Securities / Re: [NastyFans.org] NASTY MINING | POOL | COINS on: February 23, 2015, 03:41:29 AM
That seems fair, are the shares being transferred to havelock or direct to an address you control?

They were direct transferred to the 1NASTYfxUpKPwin7b1KTBFjeeofrLSgXDJ address.

Nice, I did get a transfer done and an email confirmation from the fried one around the same time. Not sure why yours didn't go through.
255  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 03:19:41 AM

I was GPU mining 2 bitcoins a day on good days in late 2011 with a bitcoin price around 2$ @ 2 gh/s @1200watts of power at a comfortable profit loss. I'm glad I just kept those coins and didn't only look at the short term profits when deciding to continue. What helped was living within my means, a long term vision, and having reserve capital for expenses during lean times.  

And a little bit of luck, you must admit.  Things could have gone the other way just as easily.  Happily, they didn't, but with any venture luck always has something to do with it.  I'm just getting into all this now, so I look at your situation like I'm hoping someone will at mine in 2019.

Maybe but it was mostly having a good macro understanding of what I was dealing with despite it being a trollfest in here with horrible daily news, laughing something awful members trolling and hacking the forum and proclamations everywhere that bitcoin was dying or dead and going to pennies a piece. I was buying when the blood was in the streets.

the laughing never stopped

Fools will laugh at what they don't understand if you just keep on keeping on despite it and chuckle to yourself as you win. My 2$ coins are now worth almost $300 a piece where I live. Who's laughing BTCest now? Not the ones who said it was a joke then.

There is so many people already involved in Bitcoin that it will not "reach" 0.37 USD/BTC anymore. It will either slowly succeed, or slowly lower, or finally terminate (like not traded in public anymore).
That figure includes the current population of bitcoin users, if they were getting lower short term that would have been lower.
But don't mind, that figure is just were I consider prices to be fair....

@cyperdoc, if they stay at it, it is as simple for me: I'll stay away from bitcoin as far as possible.
Or to put it more directly: If we don't reach that price I won't be joining the economy, even if I miss something.

I ask you this: What do you think are 10k bitcoins actually worth?

Independent of market prices in USD or Fiat currencies. Or to formulate this question differently, what do early developers want to buy with their bitcoins.

The reason I think this is important: The current height of the wealth pyramid is kind of steep. Way too steep to support a scenario where the bitcoin economy would be a significant part of the worlds economy. So you could also ask what are 100,000 or 1,000,000 bitcoins worth but the question remains the same.

In a world were bitcoin would engulf the entire world the richest Bitcoin holder would own the United States.
In a world were bitcoin would equal to 1% of the worlds economy he would still be the richest person on earth.

So here is the tricky part: How do we encourage early adopters to spend their coins? Do we wait till they feel that the price is worth it and they sell them on an exchange? That could work, or possibly not. Some might decide to gamble even if it takes a lifetime. And that is not the would I want to live in. (Power corrupts absolute power corrupts absolutely. )

Or do we come up with an alternative solution to use bitcoin to create a world more worth living in for everybody, including people with a huge wallet. Some of you may think this is impossible but that has been said of many things.

We have an amazing opportunity here people, something that was never before possible to attempt. There have been theoretical and technical considerations of how this should be attempted but never before there was a potential infrastructure in development to do it for real.


A socialista from 2011 tries to rally the team to trick bitcoiners out of their holdings and laughs endlessly when they are robbed. Nice Roll Eyes
256  Economy / Securities / Re: [NastyFans.org] NASTY MINING | POOL | COINS on: February 23, 2015, 02:59:08 AM
I have reached an agreement to purchase 17 ASICMINER direct shares on behalf of NastyMining for 1.5 BTC.  At 0.088 BTC per share, I believe this represents a good value.

This agreement was reached with the understanding that 1.5 BTC would be transferred upon confirmation from ASICMINER that the shares had been transferred.  ASICMINER has yet to confirm, even though several signed messages were sent to them.  Since this is taking longer than expected, I have agreed to pay 50% of the total price now in order to satisfy the agreement on the good faith that Carnth did in fact possess the shares that were said to have been transferred to us.  That gives a price of 0.044 BTC paid per ASICMINER direct share for our 17 shares.


That seems fair, are the shares being transferred to havelock or direct to an address you control?
257  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 02:54:24 AM

I was GPU mining 2 bitcoins a day on good days in late 2011 with a bitcoin price around 2$ @ 2 gh/s @1200watts of power at a comfortable profit loss. I'm glad I just kept those coins and didn't only look at the short term profits when deciding to continue. What helped was living within my means, a long term vision, and having reserve capital for expenses during lean times.  

And a little bit of luck, you must admit.  Things could have gone the other way just as easily.  Happily, they didn't, but with any venture luck always has something to do with it.  I'm just getting into all this now, so I look at your situation like I'm hoping someone will at mine in 2019.

Maybe but it was mostly having a good macro understanding of what I was dealing with despite it being a trollfest in here with horrible daily news, laughing something awful members trolling and hacking the forum and proclamations everywhere that bitcoin was dying or dead and going to pennies a piece. I was buying when the blood was in the streets.
258  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 02:16:58 AM
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.

Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.

Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price.

Lets put this one to bed, miners are not dumping coins and they are certainly not doing them as a market order.

Best... Post... Recently.

Gotta agree with rolling. Miners are among the most optimistic of the bulls as a group.

It doesn't matter how optimistic miners are. Miners have to service their debt and to meet expenses just like everybody else. If you postpone selling because of a bear market, you can end up NEEDING to sell more rather than less because the price is lower, the loan payments are higher and all your other expenses remain the same.  It doesn't matter one bit if it's market orders or limit orders creating more overhead resistance.

It's a factor and when you consider that the biggest pressures will be on the biggest operations who are financially weak and vulnerable to default. There are many miners who look at mining as a way to buy bitcoins without the risk and expense of mickey mouse exchanges and hacker/counterparty risk.

I was GPU mining 2 bitcoins a day on good days in late 2011 with a bitcoin price around 2$ @ 2 gh/s @1200watts of power at a comfortable profit loss. I'm glad I just kept those coins and didn't only look at the short term profits when deciding to continue. What helped was living within my means, a long term vision, and having reserve capital for expenses during lean times.  
259  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 01:58:28 AM
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.

Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.

Mined coins are not that much, 3600 per day and the Chinese probably only have less than 35% share of that so thats only 1200 coins per days assuming they sell all of them every day.  

There is more belief of short traders and options sellers using leverage.

3600 isn't that many when you consider how many individuals those are distributed to. Most only get a tiny sliver of coin from each block and they all have different motivations. There are far, far more than 3600 coins that change hands on a daily basis.
260  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 23, 2015, 01:55:47 AM
If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.

Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.

Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price.

Lets put this one to bed, miners are not dumping coins and they are certainly not doing them as a market order.

Best... Post... Recently.

Gotta agree with rolling. Miners are among the most optimistic of the bulls as a group.
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