I agree for now, we'll see how many people want USD once economies stop trusting it as the world reserve currency. It wont take long for people to follow Russias lead...

Yes but currently bitcoin isn't propping up the world economy 

For future reference don't delete old wallets even after youve moved the coins on. Theres no reason not to keep a copy somewhere, it doesnt even need to be encrypted if its empty.

Which transaction did you not authorize?

Seems strange for someone to not clear out the wallet if they had access.

Why do you still have BTC in there if you think it is compromised?

We're talking about the actual blockchain not blockchain.info ...

Neither right now, Id not like to be taking a position at this point , but depends what your in at the moment maybe a re adjust so your not effected whether the next movement is up or down and make a decision later in the day.

Text book. The last 1 day cross took us from mid $800's to mid $500's.

Yes it is driven by market movements but whale walls and buy can quickly change the short term market sentiment and panic buying ensues.

For example the general market sentiment can be that $600 is a fair price then one whale comes along  and lays down a big bid wall. Then people pull their asks thinking, lets see how high this goes and others pile their bids in front of it. He can then pull his wall and have moved the market without spending a penny. Whats changed here other than people panicking ? Nothing, so ensues a drift back down to where we were before.

The same is true in reverse. Id argue that the general sentiment here is that yes were building for another run up so the long term view is upwards, to the moon etc. But, many traders feel that this has a way to go down yet before that happens.

In regards to the volumes the only time we've seen large volumes in the last week or so have been on big downwards movements. That for me is further confirmation of still being in the triangle of doom from December.

I won't be disclosing my balance, besides the amount of coins you will find between people who are participating in this discussion and sharing of information won't have enough to move markets. There's several people with 1000's of coins who collude with each other on private IRC channels etc so you would stand no chance at moving the market against people like that.


In regards to the topic at hand, I can see us continuing this slow grind downwards.

The bidsum has dropped form $20 million to just over $11 million in the space of a few weeks. This tells me either the buying pressure isnt there or more people are not leaving money on exchanges. The latter should add to the volatility as the volume rises due to there being less liquidity on the exchanges.

Yes just use a thin client if you don't want to download the whole blockchain.

In regards to blockchain size though 15gb is not a lot. You can fit it on a $15 usb drive so there's no real issue there.

I chose customer support, doesn't matter how secure the thing is if nobody can use it 

This is true but that doesn't change the general market sentiment. This was seen in the run up from $550 to $700 where a few big trades (not even that big really) drove the price up but as soon as those fiat cannons paused we've slumped straight back down. Dont get me wrong we will be going to the moon at some point but it seems the market wants to give more people a chance to get on the train

To be fair surely its to be expected that an exchange has all their customer funds. Why would an exchange actually being an exchange cause the price to rise. Also until there is a way to verify your own balance then an audit like this doesn't mean much. Its certainly better than no audit at all but to have an effect on the price.

My opinion is that a lot of this good news is being digested and is all adding to the fuel for another run up. At the moment after gox and other pieces of bad news people are simply waiting for it to take off rather than trying to catch the falling knife. This was obvious in the run up from $550 to $700.

When were we significantly lower than 280-350?

I think we'll stay in this range for the day $590 to $610, if theres a breakout one way I think it will be downwards but not by much, we're in the same slow grind down since January and so far all the good news has not made much of an impact. Expect it to rip your face of when the train does leave the station.

I'd argue that its been quiet obvious to trade this downtrend, The run to 700 was obviously premature and whale driven. A big short near the top of that and you wouldn't of had to trade again until your sure the markets turning.

I would be surprised to see it go that low, I for one would be throwing all the savings at $350 coins if we were to stay there for more than a flash.

Just a bit of manipulation within LTC shaking the weak hands out etc, all the normal things we say about BTC after a massive run up. Meanwhile we're back to super low volume BTC market but with alot less support either side.

Can anyone remember the last time the bidsum was below $10 million. I know its not a great technical indicator etc but I think its an indicator that people are less willing to leave funds on exchanges and in particular fiat.

It got eaten in a 540 sell.

"Security Issue" would have thought they would update their customers at some point in the last two days.