Yes, gold and silver are doing well this year... Unfortunately bitcoin remains stagnant during this market meltdown which tells us it's not considered to be a safe investment at the moment. I remain a strong believer this will change providing we will not f**k it up by then.
It's not a safe investment, has never been a safe investment, and at this point, there is no reason to expect it to be. It's volatile as sin. It is the exact opposite of safe: it's speculative. This can change with mass adoption, but I'm not expecting it to any time in the near future. |
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Incidentally, OPEC may be about to blink on the supply side.
I don't think that this will materialize. Right now, Russia and Saudi Arabia are the major stumbling blocks in agreeing to a cut in crude oil production. However, in the recent days, Russia has been giving out signals in favor of a production cut. But Saudi Arabia is still adamant about maintaining its market share, and don't want to cut the production. It'll be interesting to see what happens. Saudi Arabia is hurting, and I think they'll blink eventually. They've instituted taxes for the first time and cut the subsidies in gas, electricity, and many other government programs to try and preserve cash, but they're still burning it an unsustainable rate. Either the price of oil has to rise on its own, or they'll have to help it. Saudi Arabia is adamant, just because the countries economy has much down. It is completely dependent on oil. Now due to the surplus in the market, its production needs to be cut down but this cutting of production increases the economical impact more. It's interesting to see the economic game going on in the Middle East and a lot of the oil-exporting nations, since the Saudis don't want to turn off the tap and the other nations are having huge economic impacts because their oil companies are generating less taxes for the government. The Saudis likely will not stop their production anytime soon, or at least nowhere where the price will recover. The Saudi's actually did start cutting production a bit towards the end of 2015, but the cuts were nominal. I can't find data for anything more recent than October 2015. July 31, 2015 10.29M Aug. 31, 2015 10.29M Sept. 30, 2015 10.19M Oct. 31, 2015 10.14M 150,000 barrels a month, a drop of 1.4%. Hardly worth mentioning, except that it is actually a drop in production. With their cash crunch, I'll be interested to see what comes in the next 12 months, whether the price recovers and especially if it doesn't. |
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Yet another crash day on oil 27$ per barrel,will be no rebound global economy is slowing down
There is no new tigers,more and more oil,less demand
Oil demand growth is steady in Asia (and also probably is in other countries in development) [big picture snip] Yeah but the demand curve has to be compared to prod curve ^^ US production in barrels: 2010 1,998,583,000 2011 2,057,608,000 2012 2,370,114,000 2013 2,720,782,000 2014 3,178,555,000 That's a steep ramp up, and it's only slightly lower than the 1970s, which was an all time high in oil production in the US. 1970 was the biggest year ever in US production at 3,517,450,000 barrels. Not as easy to find world production, but Saudi Arabia hasn't been cutting production. |
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Incidentally, OPEC may be about to blink on the supply side.
I don't think that this will materialize. Right now, Russia and Saudi Arabia are the major stumbling blocks in agreeing to a cut in crude oil production. However, in the recent days, Russia has been giving out signals in favor of a production cut. But Saudi Arabia is still adamant about maintaining its market share, and don't want to cut the production. It'll be interesting to see what happens. Saudi Arabia is hurting, and I think they'll blink eventually. They've instituted taxes for the first time and cut the subsidies in gas, electricity, and many other government programs to try and preserve cash, but they're still burning it an unsustainable rate. Either the price of oil has to rise on its own, or they'll have to help it. |
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But dogecoin scrapped their cap and look how valuable that coin is now! /s
I hope you are not serious to compare dogecoin with bitcoin. Something that has no limit has no value, the less something are then the value will be higher. I believe you learned this as well in your economic class so scrapping cap is not an option for bitcoin unless you want to turn it into a trash Yeah mate. The "/s" I posted denotes sarcasm. |
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Incidentally, OPEC may be about to blink on the supply side. Oil prices scored their biggest one-day gain since 2009 Friday after hitting 12-year lows a day earlier, as hopes of production cuts by the Organization of the Petroleum Exporting Countries fueled a rally.
...
The spike came after a United Arab Emirates Energy Minister suggested that OPEC members "are ready to cooperate on a cut," TheWall Street Journal reported Thursday.
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Everything from a this graphs can tell you demand for oil rising and price is falling down?
This artificially made price decline, by corporate masters.
It is logical for price to rise..This is the game of rich.
You're ignoring half the price equation. Price is where supply and demand meet. Demand has risen for oil, supply has exploded. That's why the price is down. |
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Perhaps you could put withdraw limits on JD to help save the CLAM market. Put it to a vote maybe?  The limit should be how much CLAM you actually have in your account. Not more. (Oh I wish I could withdraw more.) He was being facetious and calling back the debacle over the whale digger and the notion that the ends justify the means and long as the ends is maintaining a high CLAM price. Obviously, no one is going to support a method of limiting withdrawing CLAMs you already own, and Doog (so far as I can predict) would never be so tyrannical as to suggest such a notion. |
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Just got in long enough to see this: 5:59pm System We are currently mitigating a Ddos attack, some users may experience a temporary disruption of service. Thank you for your patience Ironically, I'm glad to hear the disruption is a DDOS, because I originally figured it was the long arm of the law finally catching up with this book and mandating they ban US-based players. |
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I am having the same issue. IP from the US is suddenly banned. Would like the opportunity to withdraw my coins from account.
And why this sudden change?
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Congrats and getting the site back up. I have noticed that Seuntjie's DiceBot processes bets at a much slower rate now. Seems to be from the JD side. Is this a deliberate change?
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But dogecoin scrapped their cap and look how valuable that coin is now! /s
In a perverse way that might actually buy it a whole lot more credibility in the eyes of the wider world. You might be right. The idea that something we treat as "money" can have a finite quantity is completely foreign, and probably scary, to a lot of people. What does bitcoin think it is, gold? |
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good or bad, it is on the horizon
i think it overall good since it is the original design
btc would be stripped of all integrity by changing maxmoney at this point or any point in the future ever
21 million
But dogecoin scrapped their cap and look how valuable that coin is now! /s |
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I'm in the process of dropping the maximum "offsite multiplier" for investors on Just-Dice. About a year ago now I introduced the idea of " offsite investing". The idea was to allow investors to effectively risk coins that they hadn't deposited, with the goal of allowing them to take most of their CLAMs off the site and stake them in a local wallet. CLAM was far too centralised, with some 70% of all the CLAMs sitting in the Just-Dice bankroll, and I was hoping this would help address that problem. What actually happened was that almost nobody took any of their coins off the site, and everyone just used the offsite investing feature to massively increase the risk they were taking. So now we find ourselves with around a million CLAMs in the bankroll, and a maximum profit of 400k CLAMs. A single lucky bet could wipe out almost half of the bankroll. This seems like a bad idea, for various reasons; a) In order for investors to get any reasonable share of the site profits they have to dangerously over-extend themselves, risking far too much just to keep up with the other investors. b) If any lucky player ever did with the 400k maximum profit, they wouldn't be able to sell their coins for anywhere near as much as they might expect. c) Any attempt to dump 400k CLAMs on the exchanges would crash the market hard. So I'm going to be reducing the maximum offsite multiplier in stages. The maximum just dropped from 100x to 50x in the last hour, and so the maximum profit per bet is now down to 213k CLAMs. I will continue to drop it over the next few days until it is down to 10x. That will mean investors can risk no more than 5% of their coins per bet. I expect the max profit even at 10x will be in the region of 50k CLAMs, which is still a very competitive amount to be able to win. I think this is a good change, and would like to see the offsite multiplier eliminated all together. Just my personal opinion that the offsite option leads to shenanigans, as you identified, but for some reason you're not eliminating it entirely? It's a step in the right direction at least. Btw, good luck getting the site back up. |
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Ah, the days when one could even mine whole Bitcoins in minutes with a potato. First time I heard about mining Bitcoin (2011) I thought it had something to do with Minecraft. Btw, I'm surprised to see that already in 2011 prices rose above $20. It took roughly 20 months for BTC to reach this value again ..
It's been roughly 26 months since we hit the $1,000 mark, are we due? Is a superbubble in the high 5-digits brewing? No, we can't even stay above $400 for a stretch. What on earth makes think that a "superbubble" is brewing? |
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It's too early to guess what is going to be after the halving but I really hope that we will have a good price increase. More than us it's important what big mining businesses will do. We, the small players, don't have much to say I guess.
Dude mining will not get affect because of this. Because they will get extra pay for mining from block chain. It would 100% profit for all kind of bitcoin user whether he is investor or saver. Both will get profit and Price will double the rate for sure. It's likely mining will be affected. If price doesn't go up enough to offset the drop in mining revenue, some miners will be mining at a loss. For example, if you are a big miner and narrowly eek out a profit at the current price (figuring in cost of electricity), when the halving occurs, you're suddenly only going to be making half the income in btc, so to continue to eek out the same profit as before, the price has to double. If the price does not double, you're now not making enough btc to pay for the electricity to mine the btc. In theory, this will cause some miners to drop out and the difficulty to fall some. In theory. |
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...
jaysabi
China has been buying a lot of hard assets worldwide (esp. in the USA). Perhaps, like the Japanese in the 1980s, they are overpaying...
Do you mean overpaying in the sense that they shouldn't be spending their reserves, or overpaying in that they are paying above market value for the sake of converting to hard assets? |
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What is the depletion being used for though?
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Yes, this is my opinion too. I don't view any altcoin as serving a very legitimate market function because they aren't doing anything radically different than bitcoin. But I am also open to the idea that if an altcoin does something that is truly revolutionary, it could also serve a market function and earn a place next to bitcoin. And I simply don't understand Ethereum, all I was getting is that it had the potential to be revolutionary because of [insert hype about blockchains] and so on, and if it therefore does prove to be revolutionary and serve an important market function, the underlying cryptocurrency enabling all this future blockchain wizardry could become valuable. But this doesn't seem likely to me at this point and with my limited understanding. I still hold the opinion that virtually all altcoins are eventually going to zero, because there's just no need for them to exist, and as they slowly depreciate over time, the ability to profit off pumping them also declines, which is the only function 99% of them serve currently. Once they lose even that, they're literally worthless. |
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At this moment ETH not doing too much, as it's still in development. According to my understanding the big thing in ETH is the embedded scripting language what makes possible to write all sorts of contracts and then automate these transactions according to some predefined conditions. Pretty much like NXT or Qora but more flexible. Right. Here's an example that was written a yearish ago on Ethereum beta that shows a hypothetical government run on the blockchain. https://www.youtube.com/watch?v=NVupNB_uFwkThe idea is that the programming of the "contracts" are transparent in the same way that bitcoin's ledger is transparent. Augur plans on using it to support a decentralized intrade ("If X event will happen betting"). IoT from IBM was using it to demonstrate washing machines that could order their own soap I think (not sure why you need the blockchain to do that) at CES. The idea I took from of it was having a blockchain that could enforce agreements. A decentralized exchange, betting, reputation systems (some people are building locks that interface with it for AirBNB / Uber type applications). Charles was much better at explaining contracts. Sadly - their marketing changed to "decentralize the internet" which is completely different than "programmable blockchain for contracts". Several banks are looking into using the blockchain at keeping track of note swaps and the Ethereum technology (not public blockchain) is top of their list at this point. There's also a lot of excitement around Casper which is supposed to be the end all for PoS scaling solution. The idea of programmable contracts to eventually create the holy grail of autonomous organizations has been around for a long time. Decentralized system to enforce the contracts is what a lot of the insider hype used to be built on. Now everyone thinks they can program Rainbow 6 on the blockchain and create limewire on the blockchain and it's creating a lot of static. Do your own research. Look at who they have on their dev / adviser list. They've delivered. They have also been stupidly wasteful with their money. It's a mixed bag. Tons of people have used all these buzzwords to pump their shitcoins ... hell XCoin was using it to pump their shit back in the day. Don't get caught in the hype or the fud. Thank you for this response, it was the most helpful so far. When I try to understand ethereum, I get a lot of noise about banks and blockchains, but not a lot of good information about "how." Everything I see talks about how banks are interested because of the "potential" without a lot of explanation as to what the "potential" is or what banking institutions look like when they use the blockchain. Do you have any more information about that, or things like this: Several banks are looking into using the blockchain at keeping track of note swaps and the Ethereum technology (not public blockchain) is top of their list at this point.
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