You have the third-world poor transacting on the testnet?  Heh, Imagine if testcoin turned out to be the crypto-currency that displaced Bitcoin. |
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I wish Bitstamp would fix their shit. Anyone here know anyone there could kick their arse a bit? Should I switch ChartBuddy to a different exchange? Should we have a poll about it? |
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But here's my bias based on psychology/sentiment: Pretty much the only thing that can calm holders nowaday is the notion that Bitcoin has never gone below the previous all time high in the following correction or bear market. Because of this, I think there are going to be a whole lot of "weak hands" in this area because it's so close to the 266 high.
I'll just point out that 266 was the fractional-reserve Gox high and possibly should be adjusted to account for such. |
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Remember how the Cyprus trouble helped the price of bitcoin?
All this trouble with the ruble now and btc isn't doing anything, the russians are not buying.
And russia is huge compared to cyprus, so they should have an enormous influence on the price of btc.
Any theory?
People are a lot less sensitive to inflation and exchange rate fluctuations than the government going into their bank account and taking a chunk of money directly. This is actually quite a problem. Though Bitcoin addresses both. Though it has to be said that Bitcoin's price rise during Cyprus was mostly speculation, not real demand. |
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solid currencies like USD or EUR
Lulz. I get your point but right now, that's more inertia than anything else. |
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Nobody has a clue, but some of us were predicting bottom in the range $280-$285 for quite some time (months). That's the bottom were miners have to stop selling immediately what they mine or turn off their machines. Some smart-asses keep claiming that price has nothing to do with mining which is only partly true, price *is* formed by supply and demand, but they keep forgetting that miners are the bigger part of the supply side. This is not so important when the price is way up and miners can only sell part of their produced BTCs and speculate with the rest, but with the price this low they have to sell right now, there's no margin for risk of BTC falling ever lower and they would end up in red because they've already in debt for the electricity they've consumed. However, when the price goes below the US$ amount already invested in BTC through mining, they have to stop selling and wait for the price to go up to $280 or go out of the business. Simple as that.
And, in fact, this is the "Platonic" ideal. While there is plentiful profit to be made, new miners should keep joining, pushing the difficulty up and pushing the profits down. Satoshi was clearly a believer in the markets. This is also relevant to an issue people seem to misunderstand about transaction fees. They seem to think that as the block reward falls, transaction fees must rise to match it. Nonsense. Miners leave, difficulty drops and we find a new equilibrium where fees are perhaps higher but do not need to match the previous block rewards. The absolute genius of it all? In the meantime, the "Easy profits" of mining have lead to the development of first GPU then FPGA then ASIC mining, leading to highly efficient mining so that the transaction fees ultimately will be lower than if we were still sitting jerking around with CPUs. It's like we jumped to internet banking in the mid-1100's instead of erecting huge buildings everywhere and filling them with people and deposit slips. This is capitalism 101. Unless it all goes down the drain of course. But I know where my money is and it's denominated in BTC. |
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agree again. nevertheless i am just explaining the rise of ripple and thats one part of its success. you can obv say that ripple is centralized or whatsoever. only, it doesnt matter. in the end all what matters is which system gains mainstream-trust and gets track in the financial world and which system gains markets trust.
You may not be wrong in the short to medium term but in the longer term, we see what happens with trust: Assholes get in and abuse it. Ripple may or may not have a place but it is not doing the same thing as Bitcoin. |
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Let's keep things in perspective shall we? 2008 banking and financial crises were a PR disaster for the fiat centralised banking scam ... Mt. Gox was a japanese kabuki comedy routine, sucks if you got caught up in the pantomine but there was plenty of warning.
But the banks already have a shitty image and the governments just printed up a bunch of money to help them out of their hole anyway. Gox definitely didn't help us any (I'm not certain that it did as much harm as some claim though). Really, the price has got ahead of the fundamentals and there's a mining bubble going on. We could have more to slide yet but I'm not that concerned for the future of Bitcoin yet. If we can be up 100 or so in the next 3 months and adoption continues then I'll be holding out for the next halving before drawing more solid conclusions. |
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When you said this, I was like "wait what the fuck, handbags? WTF is this guy talking about there was no mention of handbags in that article" and NOW I realize that you were responding to ANOTHER post, when I had ASSUMED you were responding to the post (and link) directly above your original comment. EDIT: I thought you were saying "I disagree with this person, must have been a woman" and in reality you were talking about handbags.
Well golly gee don't I have egg on my face? I shall leave my previous posts for my own maximum embarrassment (unless you'd prefer I delete them since I am coming at you pretty hard in them, for what now appears to be no fucking reason).
In short: My bad, I apologize.
It's all good. But I don't remember enough about the context to correct you or not on what I was replying to. It was more about the article itself though where the author (who was a woman) was talking about streamlining stuff. Which men typically do anyway (Though I have known women who do and men who don't so there is some stereotyping I admit). Though it is interesting that she picked on messenger bags (which many men eschew) when the more typical and more gender-normal-acceptable version would be the backpack which serves much the same purpose but is viewed in a different light. But it's late and I'm waffling so I'll shut up now. |
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It's the only type of people I've known to use the term. If what I said offends you, perhaps the shoe fits more than you'd care to admit?
Offend me? You wish you could. All I'm feeling right now is a mild sense of amusement. If an observation that many women tend to carry way to much shit around in handbags is enough to get you going, I think I which of us needs to be contemplating thinness of skin. |
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Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?
Haha, you funny man. Go SJW elsewhere please. You do realize the only people who use that term are self-conscious boys who need to belittle women (and more confident men) to make themselves feel better, right? Nice try. That's the second time you've slung insults around in some misguided attempt to make a point. You need to work on your debating style. |
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Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?
Haha, you funny man. Go SJW elsewhere please. |
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Hah, you can tell this was written by a woman. Welcome to being a man, hon.
The only thing funny about this comment is how people called nanobrain sensitive and accused her of not knowing what she's talking about when she brought up sexist bullshit.  |
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"Out with the purse and the messenger bag—today, people don’t want to carry stuff, and increasingly, they don’t need to.
Hah, you can tell this was written by a woman. Welcome to being a man, hon. |
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Not sure I understand. Are you saying that there are wallets developed for feature phones, or do you mean using a web wallet? I don't know much anything about mobile dev. stuff. Well, feature phones could use a web wallet but it is possible to develop j2me apps for them directly. I am not aware of any wallet apps currently available for feature phones but writing a client would not be too arduous and it would be quite straightforward to use, for example, Myceleium's BCCAPI which basically communicates with serialized java objects.  |
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Smartphone use will be universal and global in less than five years. The myopia in here is amazing.
Smartphone not needed. A Bitcoin wallet could quite easily be run on a feature phone. |
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I don't know... Microsoft accepting Bitcoin surely adds heavily to it's legacy long term but I'm not sure it adds any wonders to Bitcoin price except short term pump, just like all others didn't. Until average Joe gets some significant advantage of using Bitcoin to purchase things and could buy it fast and cheap nothing really changes. We need new money in the game and that won't be people buying coins to spend them on Xbox stuff.
This is true but there also needs to be an underlying structure. Why buy/accept/care about Bitcoins when you can't spend them anywhere? If the "killer app" for getting $ to flow into Bitcoins come along, if there is nowhere to spend them, it will likely fail. Groundwork is important. |
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