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I think you are doing great work for Bitcoin.
I do have a question though. Amir of bitcoinconsultancy also created a library called libbitcoin and also claimed that it would be the future of bitcoin. I don't think he did as good as job as you though since his library is very dependant on many other libraries while yours is not. It looks, though, as if Amir has left bitcoin since we have not heard from him for a while.
What kind of assurances can you give us, if any, that cbitcoin will be the future of bitcoin?
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I have extensive experience with GWT (Google Web Toolkit). Some jQuery.
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I want to buy a Microsoft Surface with bitcoins. Will you guys stock this item?
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In order to maintain these competitive prices, I will need to sell more than $800K USD worth of goods per quarter, so please place your orders and help spread the word! If a user buys $1000 worth of computer supplies every three months then: $800,000 / $1000 = 800 It would only take 800 orders per quarter. Seems doable in the long run. Hopefully sooner than later. |
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So On Jan 20, Bitcoin was about 5-6 dollars. If you just simply held on to your bitcoins you would have made over 100% return.
You have missed the point. In the process of blindly holding regardless of trend direction you have surrendered over 200% unrealized profit to arrive at your 100% return figure - a figure which is fluctuating as we speak. As your 100% return is dwindling downwards, trend followers' unrealized profits are ticking upwards. If you continue with your logic of simply holding, then you have absolutely no method of objectively entering and exiting trades. No matter where price goes, you will be entirely unprepared and you ultimately will suffer for it. So let's say I started with 100 BTC on Jan 20th. Using your method how many bitcoins/USD would I have have now? Yikes, that's a straw man argument in the making! If we back your "buy and hold" strategy up by 3-6 months before January, you are currently sitting at a massive unrealized loss! How above the people using the system? They're up around 207%-265% with maximum drawdown running around 20%. The problem with trend following is this: it follows the trend. You will never be in at the exact beginning or the exact end of the market action. You will always leave profit on the table. For this reason, "gurus" and the uninformed will always misrepresent your returns and your claims by saying that they bought the bottom or sold the top and are doing much better. They may be right for a brief time, but they are dead wrong in the long-run (for the most part). Trend following has massive advantages to buy and hold strategies. Buy and hold investors have no game plan. There is nothing that prevents individuals from buying at $30 and holding until...$11. Buy and hold simply places faith in an upward moving market and acts surprised and angry when prices turn. I believe in your system. I was converted after your first answer to my reply. I was just asking an honest question on how much profit I would make if I started with 100BTC on Jan 20th. So, it seems like if I used your system on Jan 20th then I would make less than if I just held on to bitcoins and sold it right now. But, if I held 3 months before January 20th then I would have massive unrealized losses? Correct me if I'm wrong because I don't know. I guess what you are trying to say is that your system generally makes money better and more often than the buy and hold strategy. |
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On Jan 20, Bitcoin was about 5-6 dollars. If you just simply held on to your bitcoins you would have made over 100% return.
You have missed the point. In the process of blindly holding regardless of trend direction you have surrendered over 200% unrealized profit to arrive at your 100% return figure - a figure which is fluctuating as we speak. As your 100% return is dwindling downwards, trend followers' unrealized profits are ticking upwards. If you continue with your logic of simply holding, then you have absolutely no method of objectively entering and exiting trades. No matter where price goes, you will be entirely unprepared and you ultimately will suffer for it. So let's say I started with 100 BTC on Jan 20th. Using your method how many bitcoins/USD would I have have now? |
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On Jan 20, Bitcoin was about 5-6 dollars. If you just simply held on to your bitcoins you would have made over 100% return.
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I've learned in my economics 101 class that a good economy is one that saves and spends equally...whatever that means.
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Slow and steady could win the race. Zhoutong bragged about building his site in 4 days, and look where it is now.
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400 is only about 5% of the total funds. 5% is surely not enough.
What are the chances of getting money back from GLBSE? If liquidation is successful how many bitcoin totals do we have?
400 includes the liquid Bitcoins we got back from GLBSE, the rest are in loan/debt or as a majority in GLBSE assets of different kinds. I think that it's possible to liquidate these assets without GLBSE as long as the issuers still honor their contracts. //DeaDTerra So how many bitcoins total with expected liquidation? |
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400 is only about 5% of the total funds. 5% is surely not enough.
What are the chances of getting money back from GLBSE? If liquidation is successful how many bitcoin totals do we have?
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damn, any way to mute the translator?
Use headphones. Original on the right ear. Translation on the left ear. |
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I checked out the Reddit API. They only allow 30 requests per minute. Seems like this reddit bot will not be scalable. I think you should contact reddit and ask them on some advice.
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You can also bring a weapon to the trade in legal jurisdictions.
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I am very worried that bitcoind is hosted on a virtual private server managed by another company...
I'm wary of this as well, which is one of the reasons I'm hesitant to ever make a guarantee to users unless I have insurance for all the funds. Maybe BitVPS.com can convince us otherwise? If this takes off you will be managing a lot of bitcoins. Maybe you need to host it yourself which will take more security work but it might be worth it. |
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Ok, seems like this is where it came from. |
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And Fred didn't mention it on his Twitter account because...? https://twitter.com/fredwilsonAnd Fred uses Fiddle to announce something epic because...? Don't get me wrong, I favor the idea, but present it via a standalone CMS. ~Bruno K~ Maybe it was a secret meeting for the elite. Mark Goins tweeted it so it seems like Fred is showing his ideas to all the rich people now. The way I see it, this is a legit rumor confirmed by someone influential. |
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Well I feel silly... Somehow I missed that blockchain.info wallets have a limit of 400 addresses. At the rate the bot was growing, it's going to need a lot more than that. I'm now looking to buy VPS hosting for a dedicated bitcoind server. I was using the bitcoind JSON RPC API, so it will be trivial to move to another bitcoind server. Does anyone have suggestions? I'm wondering about http://bitvps.com/. Do they still offer a VPS with a pre-installed and synced bitcoind? The website seems to be down for updates so I'm not sure if this is what I want. I am very worried that bitcoind is hosted on a virtual private server managed by another company... |
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