Let us make an offering at the temple of MACD and genuflect before him. The sun will shine, the rain will tend the earth and our crops will grow to the skies. All hail the mighty benefactor of the harvest and spread his prophecies unto the unconverted. 2011-10-29.  so you had to go back 3 years, when 3 day trading volume was less than 500 BTC  If we had gone back three years and it had agreed would it not have reaffirmed the pattern in your mind? Do not the very people in this thread go far back to reaffirm the pattern? Three day volume was over 160,000 BTC. We're looking at Gox here btw, not Bitstamp which was just an infant on Hazek's teat then. |
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Let us make an offering at the temple of MACD and genuflect before him. The sun will shine, the rain will tend the earth and our crops will grow to the skies. All hail the mighty benefactor of the harvest and spread his prophecies unto the unconverted. 2011-10-29. |
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another one to put on ignore
It's seriously time to bring back noob jail but increase it to 6 months to post and a year to start threads. where do I vote for that. I'd say, make it impossible to post if you have less than 1 posts, that would fix it. LOLed hard While at it could someone remind me the reasons why previous newbie restrictions have been removed? Because trolls were dying off, and it was feared by the secret troll-lovers that there would soon be none within the city walls. To replenish their numbers, the drawbridge was thus lowered at night, and the hoard of monsters from the wild funnelled into the acropolis. |
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I'd be happier if the speculation nutters don't get too carried away with this one. I'd rather it go sideways for a couple more months while the mass adoption rolls out
Has Bitcoin ever done months of sideways? Historic prices look stable from today's high, but zoom it up and it was even more volatile. |
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The spirit of Gox is alive. Lovin it. BTC is alive. Fuckin huge walls, massive swings, trading like a maniac, hell yeah.
Yep, really fun day today.  |
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M-m-m-m-monster sell! Haven't seen something like that since the Gox days  |
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Woah, this is turning bloody  . 1911 on Houbi, the year of the Chinese revolution. A return to the Qing dynasty seems imminent. |
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I don't know about everyone else, but this is my buying price target:  If it doesn't happen, I'll just have to catch something on the way up. The wisest buy-in move would probably be to wait patiently for clear technical confirmation of a trend reversal. The advantage of this is that you are likely to avert any soul-crushing grind in prices that would make you exit your position unfavourably. Having said that, I'll wager a bet at 200  |
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He also simply does not invest in tech. He admitted this himself. He only invests in what he understands, and I think he is doing ok.
That's why he's invested in IBM. He betrays his words. |
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I heard there is a scandal in Russia. Something like 8 people died to amphetamine(?) which they bought by using bitcoin... I could be wrong.
They should have stuck with tried and trusted Krokodil. Those pesky Ruskies will never learn. |
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some rich people just dont care
I had a friend who I told to buy bitcoin when it was $70, he bought 200 BTC for fun
when it was $1000+ I called him and said bitcoin is at 1000, he said oh
I spoke to him today said bitcoin is at $360, he said oh
dunno if op was wealthy but some people just dont care to the point of even following their "investment"
I like the imperturbability of this guy. you: The super-volcano under Yellowstone just erupted! Flaming pumice is hurtling from the fiery sky! him: oh. you: Satoshi just got doxxed, he's actually a gay pornstar. him: oh. you: I was once a women... him: oh. |
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Recently I've started to read many of the poster's histories. A thrilling pastime. You really are a wild one! |
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I remember there was a question on Who Wants to be a Millionaire asking what the M stood for in R.M.S. The participant asked the audience, and the crowd voted overwhelmingly in favour of Monarch. Crowds can cluster around wrong answers. In Galton's analysis he picked the median for a group that was likely to cluster around the right answer. A farmer's fair is more likely to attract farmers and butchers who would have cause to know the dressed weight of livestock. That his results show the 5th percentile and 95th percentile varied by as little as 20% is a telling sign.
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Aaand, added OP to my ignore list. I suggest you all do the same.
Very strongly considering it, but he is just above my retardation cutoff. At least he uses whole sentences and real words. I used to have the same principle. Only "full retards" went on my ignore list. But then newbie jail was abandoned. And one fallling sockpuppet after another appeared. And shroomskit's passive-aggressive rants during. every. fucking. drop. really got on my nerves. So I started handing out ignores more liberally. Troll, smart or not, goes on my ignore. I make one exception, for jorgetrollfi, because he's our resident anti-Bitcoin celebrity. Xiao here went on my ignore about a week ago - for manipulative book talking at its finest. They got rid of newbie jail? God damn, what were they thinking. Like these forums clearly don't have enough trolls, let's just open the floodgates and have the teeming masses pour in by the bucketload. |
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Edward50. Remember when you said this, back in 2011? It finally cracked and fell to 8.45, currently there are no major bidwalls until $8.00. Very week bid demand could mean another fall very shortly. If the bitcoin conference is over a week away your better off waiting to buy lower than around $10.00
Most buyers are not stupid and will not buy higher than around $10.00. Many miners have been hording and are waiting to pounce on the right opportunity to dump their vast hoards of bitcoins. Pesonally, it is far too risky to be buying at the current high prices.
How fucking stupid do you feel now? As I see it, the mistake was not to sell, it was to not re-buy lower. By December, certainly 19th December, the buy signal was in place. Wish I'd been around back then, looks super fun. Wait, are you still foaming at the mouth? //me gingerly steps out of the room. |
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He posted his address...
Perhaps I'm overlooking something, but I don't see what it shows to demonstrate that these coins have been bought. |
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I agree with you. There have been lengthy arguments about "hashrate follows price" or "price follows hashrate" for years now. I'm in the former camp.
Also: supply is not a function of price and cost in the case of bitcoin mining. Supply is pretty much constant, miners just fight among each others over the fixed-sized cake. So only way in which mining influences price is by one variable: the percentage of coins sold by miners into the market.
I think this percentage is increasing with falling price, up to some point... some miners will reach > 100% and switch off. If they want BTC they'll buy instead. Mining efficiency (of the remaining miners) increases and cost decreases. Their selling-percentage decreases. All this has positive effect on price, further decreasing the percentage that has to be sold to cover cost. I'm not sure we've reached low enough price (or competitive enough mining landscape) for this to play out to a meaningful extent.
If the price drops so that the increased portion of the cake they earn is worth less in fiat terms, then would they not need to sell a larger percentage of coins to cover costs? Yes, at first. What I meant was when inefficient miners start to drop out, the collective selling-percentage would decrease again. Well, I see two counteractive forces at work - each remaining miner will solve more blocks and at a lower cost collectively, yet the reward from each block is shrinking in terms of fiat. Therefore, to lower the selling-percentage, the benefit of the former must outweigh the latter for a given price drop. Maybe this is what you're saying however. |
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I agree with you. There have been lengthy arguments about "hashrate follows price" or "price follows hashrate" for years now. I'm in the former camp.
Also: supply is not a function of price and cost in the case of bitcoin mining. Supply is pretty much constant, miners just fight among each others over the fixed-sized cake. So only way in which mining influences price is by one variable: the percentage of coins sold by miners into the market.
I think this percentage is increasing with falling price, up to some point... some miners will reach > 100% and switch off. If they want BTC they'll buy instead. Mining efficiency (of the remaining miners) increases and cost decreases. Their selling-percentage decreases. All this has positive effect on price, further decreasing the percentage that has to be sold to cover cost. I'm not sure we've reached low enough price (or competitive enough mining landscape) for this to play out to a meaningful extent.
If the price drops so that the increased portion of the cake they earn is worth less in fiat terms, then would they not need to sell a larger percentage of coins to cover costs? |
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Today I bought 3k BTC (+12k before = 15k in 4 days) Finished
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