Honestly, I'm waiting for the first person to 'skywrite' "Hello" or a smiley-face in there

I don't know what these are for, just the pattern caught my interest. It could just be someone's personal mixing algorithm sending to different wallets, laundering for some other purpose, or whatever. I only put this thread out there to see if someone would say "Yeah, I know who is doing that - no big deal."

It still isn't that big of a deal, but the amounts are sure interesting...

Update: Seeing the same 9k 'snake trail' pattern again.

Timestamp: 08:14 UTC

Nesico, how about shutting your pie-hole.

You obviously don't know jack about how computing was at that time, or you'd just 'eff off.

Yeah, I'm serious.

As long as you could periodically connect to the internet, why not

That is the main question here. Also, I'd look out for trying this anywhere that would be threatened by a potential 'new sovereign state' in their midst. Even if you don't mean it to be, it could be taken as such.

I do like the mental exercise though. Really comes down to where can you hit the net (without satellite) and still be out of range of greedy sovereigns?

Just to be clear, the blue dots are peer-to-peer transactions, not exchange trades. Those are in red. So, someone is transferring to another wallet which may or may not be under their control. Given the volume, I'd guess they do own the destination since the pattern repeated so much.

I still have no idea why, there has to be a less visible way to go about it.

I'm also very curious to see if total tera-hash/sec capacity increases, or if outright buy-and-hold does. Perhaps in the absence of large sell blocks, we can look forward to a bit of a plateau?

Appreciate the numbers as always, chodpaba!

Just a quick update - 23:50 UTC the pattern has resumed.

Back to watching the 'skies'.

I like keeping http://www.bitcoinmonitor.com/ open and looking at the transactions fly by. Been doing this for a few weeks. Recently noticed a high 'altitude' (it gets charted by how many bitcoins, so the higher you are - the larger the transaction), 'snakes' or trails of patterns that have lasted over two hours.

The pattern is quite interesting, starting below 9k then slowly arcing up past 10,000 BTC.

Here's a shot:



I have no idea what these repeating transactions mean, but I thought I'd put it out there for everyone to take a look.

Update: Could be simply coincidence, but the pattern stopped within minutes of my post... curiouser and curiouser...

If in your example, there was an order to buy 100k near that offer, yes - it would cross and not really move anything.

It's really all about the order book. You are right, your order is on the opposite 'side' of anyone elses, and you are matched to the closest bid/offer. Where order depth comes into play is what 'moves' price. (This also assumes you've put in a market order and not a limit order.) Your order simply takes out all the offers if you are buying, or the bids if you are selling - depending on how many are at each price level.

Hope that helps.

I appreciate that.

Thank you.

I know this could probably be gamed if the question pool was too small, but it would be an interesting experiment. My suggestion is this:

What if to shorten your wait time by 'n' amount, you had to answer correctly some factual questions about bitcoin? That would serve two purposes, educate those that need to learn, frustrate any potential troll since you are forcing them to read about the subject and comprehend it.

I suppose you could formulate some questions based on the wiki and serve them up randomly from a given pool. Just a thought. Not sure if the forum could even support that kind of functionality.

Feel free to edit the topic of your thread then with the correction. Us non-alarmists would appreciate it.

Could you possibly elaborate?

That is, if you aren't completely mental.

Most slashdotters hate bitcoin, and that amuses me greatly. They may have technical chops, but they aren't so great at spotting the next big thing. (Like the iPod.)

Thanks for alerting us to the story post.

Did some basic 'net research and their server is regged via RIPE to a contact in Bulgaria. At least they didn't try to host it in the US.

I do agree caution is needed, but I think there's enough there to try some fractional trades just to kick the tires.

Not bad, just correct a few typos on the site.

There are two companies involved - one in Las Vegas, Nevada and the other in Bulgaria. It is in their 'about' section.

Fees seem to be 0.57% round-turn, and there is a referral program.

Be interesting to see how it operates.

That is really cool. We need more parties to step forward like this. I think they'd be pleasantly surprised at the response.

Moby Bit

Moby BTC

Update: After thinking about it, you could just condense it to MoBTC, so phonetically it sorta works

You know, after that story we were all forced to read in school

What everyone seems to miss in the past correction and subsequent rise in value is bitcoin has already demonstrated its resiliency in the face of outright panic. For whatever reason, those that dumped their btc haven't been able to push it under the 10 - 15 range. This means something in the longer-term.

Again, if it was a 'bubble' (which is a term so many people over-use without even knowing what the hell it is), we'd be sitting here all shocked at how we're under dollar parity and trading at 0.50. This did not happen. If the big size orders were going to slam the market down, it would've been during the decline -- and it wouldn't have stopped, if this market was truly all vapor and hype.

It isn't.

The idea isn't.

This technology has the potential to change the world, and I can't stand those with simple constitutions or lack of trading discipline selling bitcoin short. If you don't agree, then please - liquidate, I could certainly use the bargain.

Price limits, circuit breakers, these things don't stop market forces, only delay them. Just let the market trade, you know - without regulation. Bitcoin should be traded as freely as the currency itself.