I'll go for *potentially* game changing.
I dream of a hardware miner/wallet that you'd use as your home ATM...plug and play, secure.
That's a pretty cool idea. However, that assumes that what is being kept secure, is still valuable. With this manipulation and no safeguards in place any big money player can destroy Bitcoin. I didn't realize that before, but now it is blatantly clear. Let's use any government that has $1 billion to spare. They could build massive mining rigs and with the rest, purchase BTC slowly. It wouldn't take long before they would control enough BTC to just continually smash the markets with wave after wave of coordinated "dump attacks". All confidence would be would be lost. Current investors would flee into other currencies and investments. Potential investors would stay away from a corrupt and manipulated currency. It's actually a better Achilles heel than any regulation could dream of having. So in the end, Bitcoin's greatest weakness, is it's very own principles of non-regulation. The irony is quite amusing. Worst. Attack. Idea. Ever. The attacker would be dumping free money until he/she runs out and then the system would continue to run as usual. Indeed they are free to donate their money to the market. Then again, it isn't really their money to begin with is it? BTC is so tiny that the FED could just buy enough BTC to make it skyrocket in en epic pump, then crash it to single digits, creating a few notable fortunes and ruining millions of people on the way. Burning people with BTC seems indeed more effective than simply banning it. Still, they would be burning piles of money, this is an expensive stunt to perform, "affordable" only by an economic super-power willing to virtually destroy money to try to get rid of Bitcoin. BTC is still too small to deserve such kind of attention, if they decide to play the pump&dump game they really need to go till the end, waking up the sleeping monster  In a few years, not even the FED may afford such kind of attack. And if they do, it will be a hell of a ride and nice fight. Keep'em coming. |
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Yeah, mini USB miners could have such a potential, if only a player could have the manufacturing resources to produce millions of them and price them reasonably, it could do so much for wider adoption... A machine that actually produces income, explain that to your grandma  I'm sure grandma has seen a Coke machine in action I hope you get the idea despite of my poor English  |
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I'll go for *potentially* game changing.
I dream of a hardware miner/wallet that you'd use as your home ATM...plug and play, secure.
That's a pretty cool idea. However, that assumes that what is being kept secure, is still valuable. With this manipulation and no safeguards in place any big money player can destroy Bitcoin. I didn't realize that before, but now it is blatantly clear. Let's use any government that has $1 billion to spare. They could build massive mining rigs and with the rest, purchase BTC slowly. It wouldn't take long before they would control enough BTC to just continually smash the markets with wave after wave of coordinated "dump attacks". All confidence would be would be lost. Current investors would flee into other currencies and investments. Potential investors would stay away from a corrupt and manipulated currency. It's actually a better Achilles heel than any regulation could dream of having. So in the end, Bitcoin's greatest weakness, is it's very own principles of non-regulation. The irony is quite amusing. That kind of attack could be indeed the most effective way to destabilize Bitcoin, much more effective than a ban, but still is an attack that becomes more expensive to perform year after year, and the final outcome is not clear. Let them try, this experiment has to be proven and tested under all kind of stress. I have plenty of popcorn. |
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"CanadianGuy" is not honoring a bet he committed to, that's obvious. Has the forum any policy on this?
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Name and address. And would you be interested in buying a asic after your sample? If so how many BTC you have? just give him your work address and a bogus name. say you have 21 million BTC (you were very early adopter ). Guy refused to ship to PO Box or to a public place as expected. Stupid and obvious scammer, but kinda creepy... |
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This is what scare guys like coin seeker, it feels so warm and comfortable in FEDs bosom, or using Ripple, the final "debt+trust as a currency" centralized system....
BTC its not only internet's cash, free as a bird and superior by orders of magnitude to its paper counterpart, it's also regulated by math and not by those who have the power to press the button of the money printing machines.
A lot of power to the people, gentlemen.
Power to the rich people and massive coin holders. No different than the current banking and government status quo. Just nerdier. What you say is that wealthy people rules, well thats how capitalism works, and Bitcoin was never designed to address that. Its just the most neutral form of money you can conceive. And "the current banking system and government status quo" face a huge, game-changing challenge with Bitcoin, only that by itself is a huge step forward. We'll just have to agree to disagree on the "game-changing challenge". $1 billion market cap?? Laughable at best. It's not even a drop, of a drop in the bucket. They're not worried. Not at all. I'll go for *potentially* game changing. I dream of a hardware miner/wallet that you'd use as your home ATM...plug and play, secure. Yeah, mini USB miners could have such a potential, if only a player could have the manufacturing resources to produce millions of them and price them reasonably, it could do so much for wider adoption... A machine that actually produces income, explain that to your grandma |
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That is fishy. What business would ask you how much money you have?  Many surveys ask for your household income. They need to know if you are worth contacting for sales. You are right, but this is obviously not the case. |
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Manipulating the market medium-long term provides enough gains to allow for such losses, or, fat fingers.
What I want to know though, how these gains can be made by this 5k buy + 4k wall stunt? My assumption is that the person was hoping the 4k wall would stabilize the price. It didn't, and he lost money. Not everything works out perfectly for the big-money investors. So you think his stunt has failed? From the face of it, it appears so. I can't think of any valid strategy where a bid wall eaten through is a positive for the bid wall owner. I can. Put your bid near important support points where you expect the price to rebound up. |
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The big speculators are easy to beat. Just don't play their game.
BUY??? SELL???  |
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This is what scare guys like coin seeker, it feels so warm and comfortable in FEDs bosom, or using Ripple, the final "debt+trust as a currency" centralized system....
BTC its not only internet's cash, free as a bird and superior by orders of magnitude to its paper counterpart, it's also regulated by math and not by those who have the power to press the button of the money printing machines.
A lot of power to the people, gentlemen.
Power to the rich people and massive coin holders. No different than the current banking and government status quo. Just nerdier. What you say is that wealthy people rules, well thats how capitalism works, and Bitcoin was never designed to address that. Its just the most neutral form of money you can conceive. And "the current banking system and government status quo" face a huge, game-changing challenge with Bitcoin, only that by itself is a huge step forward. |
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The biggest threat to Bitcoin right now IS regulation.
+1 can't argue with that I do. The biggest threat to regulation is Bitcoin This is what scare guys like coin seeker, it feels so warm and comfortable in FEDs bosom, or using Ripple, the final "debt+trust as a currency" centralized system.... BTC its not only internet's cash, free as a bird and superior by orders of magnitude to its paper counterpart, it's also regulated by math and not by those who have the power to press the button of the money printing machines. A lot of power to the people, gentlemen. I think that, like in every market, BTC is regulated by whalemath. Liqidity is an obvious issue and Bitcoin would greatly benefit from a simplification of the exchange with fiat. It's a PAIN to get into Bitcoin. Exchanges should (probably) also work closer together to allow for more arbitrage opportunities. True. Buying your first Bitcoins is slow. Deciding to throw serious money at it is a lengthy process, first you need to feel confident with its "shaky" infrastructure (Gox et. al).. This is why it's a huge opportunity to be into BTC now, because money flow to BTC is much slower than it could be. When real money starts to pour in, there will be a bubble of epic proportions. All time high $ on Gox order book is $23M, imagine a market depth of hundreds of millions... Per exchange |
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The biggest threat to Bitcoin right now IS regulation.
+1 can't argue with that I do. The biggest threat to regulation is Bitcoin This is what scare guys like coin seeker, it feels so warm and comfortable in FEDs bosom, or using Ripple, the final "debt+trust as a currency" centralized system.... BTC its not only internet's cash, free as a bird and superior by orders of magnitude to its paper counterpart, it's also regulated by math and not by those who have the power to press the button of the money printing machines. A lot of power to the people, gentlemen. |
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(...) My impression is that everybody is holding fiat ATM.
Good lord... Go visit other subforums or reddit for a change. Hero members who got bitten hard in 2011 really aren't the norm. And even then, many of them remain unconditionally bullish. Yeah, you may be right. I guess I'm getting that impression reading comments of regulars in the wall observer thread, plus speaking with my educated friends, who at the end of the day are pretty much influenced by me. Never go through reddit, it always felt pretty useless. Let's see how this rally on low volume unfolds. |
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Usual trolling apart, let's see if $110 stands another assault.
Come on guys, if it's broken on the upside, who is panic buying in here?
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Wow, those two fit nicely! What's interesting is that June 2013 is unlike Aug 2011 and there aren't many this time who are calling Bitcoin a failed experiment / dead. :-) [Edited: to put in dates] Indeed. No "Bitcoin is a ponzi and Nakamato is its very own Maddoff" posts, no more "Bitcoin is dead" shouting on the news, etc. This time everybody knows that the bubble is popped and the hype cycle is over, it must deflate all the way down, but at the same time everybody is waiting for the best entry point to face the next sustainable growth trend that will precede the 3rd Bitcoin bubble. That's pretty much the sentiment. Not only here, but also among my friends in the "real" world, all of them are really interested in BTC and willing to buy, they are just waiting for the bubble to be "over". What's kinda puzzling to me is that most members on the speculation subforum, or generally speaking the traders I know have already sold, everybody is waiting for "cheap coins". So... Apart from ASICminer and AVALON, the new bitcoin-superpowers from China, who has coins to sell ATM? Yeah, most of us hardcore bitcoiners have always a stash on a paper wallet, but I mean "trading funds".... My impression is that everybody is holding fiat ATM. |
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We are in the "early/pricing" stage of an exponentially growing (later: S-growing) phenomenon. If everything goes as it has done in several bubbles before, the great bubble will form when 1-2% of the population had adopted the technology. For Bitcoin, this means about 50 million adapters that actually use bitcoin for something. This "something" has so far been lagging, though.
I withdrew my prediction for $300 for 2013, but this does not mean that I was sure it will not happen. In 2014 it will happen for sure. Or some 1.5-sigma event happens.
The great moves have been able to push the price up roughly by an order of magnitude. We need 4 such moves and the rest of this year is not long enough time. April-June 2014 is now my target.
Current price I would just buy as much as I can.
Are you expecting at least one 10-fold move this year, though? I think it is certainly possible for it not to happen (in which case this would be a lame year of anything between 500-3000% growth ) but considering: 1. bitcoin adoption rates even now, 2. and the spread of information rate, 3. and the ease of developing Bitcoin-services, 4. and the superiority of bitcoin over all the competitors 5. and the upstartness of altcoins etc etc Everything points to me a violent upmove once the profit-taking consolidation ends. I agree!, I think consolidation has already ended at least at these low prices it has, so i'm predicting 180 within 2 weeks. I don't think we can make a new all time high so soon, but i do think we can get to 180 and stay in that range + - 10% I won't believe that until we are well over $130, and I will not be sure about that until $166 is broken. |
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I have to say that lately MtGox is working wonders for me. During last week I made various withdraws of 5 figures each and they arrived in 2 days. Last one was requested on Sunday night, and arrived today (Tuesday) early morning.
All of them SEPA transfers.
I really don't know why there are so many users complaining about wires/transfers taking weeks to clear, etc. Not my experience AT ALL.
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So... The chips will be shipped and hashing before any non-Jalapeņo customer receives their unit, right?
Cool.
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When comes the dump ?
Anytime from now to $120, but I would say sooner than later. Rally on extremely low volume, fishy. |
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There's something very fishy going on in this thread: https://bitcointalk.org/index.php?topic=231878.0A newbie who registered today is offering FREE ASICs to Hero Members. When contacted by PM, here is his reply: Name and address. And would you be interested in buying a asic after your sample? If so how many BTC you have?
He is clearly trying to gather personal info, together with BTC wealth, of members of these forums. When I requested him to ship to a P.O. Box, he obviously refused. Please mods take a look on that, it doesn't look good at all. |
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