In a statement, the Digital Currency Group said, Although we have been assigned a ticker symbol, no assurances can be given as to when or if such trading will commence, or that an active public secondary market for BIT shares will develop or be maintained. Curious to see how this will unfold. This seems to suggest we are not quite there yet |
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A problem greece cant fix it based on production.
They have no export/import things from their own country. Meanwhile china, we all love almost everything we have here in the U.S is "Made in China" so it creates millionaires for them.
Greece is nothing but a tourist attraction, unless they understand their own mechanics to the problem.
Well, if they don't export anything, then Bitcoin theoretically would be precisely the type of currency the Greek people should want to adopt. It goes up in value over the long run as well their purchasing power. Just sit back and consume. Bitcoin still doesn't save them. They could buy up the bitcoins with whatever euros they have on hand, but then they'll still need to spend their bitcoins. If they are trying to spend more than they earn - no matter what currency is involved - eventually they'll run out of money. I think you're missing the bigger picture. The first country that introduces an honest currency should prosper. People who may have never found it worthwhile to work or strive in the past will for the first time have an incentive to participate in a real economy not distorted by corrupt monetary policy.  Good one. The "corrupt monetary policy" is what has afforded them the social welfare they're adamant on substaining. Bitcoin risks taking away all of these "entitlements" away. Bitcoin will never be accepted with open arms by "the masses". Btc is meant to be ideal money.. Thats geared towards mass acceptance regardless of govt I think you drank too much of the trainscarwreck kool aid. It will not be accepted by the masses, the ones who profit from current welfare state and status quo, it will be forced upon them. |
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No hope for one of them decentralized exchanges we bitcointalk so much about?
I was thinking about this. Has the Coinbase exchange lessened the desire for a decentralized exchange? I never understood how one dealing with fiat was possible in the first place |
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A problem greece cant fix it based on production.
They have no export/import things from their own country. Meanwhile china, we all love almost everything we have here in the U.S is "Made in China" so it creates millionaires for them.
Greece is nothing but a tourist attraction, unless they understand their own mechanics to the problem.
Well, if they don't export anything, then Bitcoin theoretically would be precisely the type of currency the Greek people should want to adopt. It goes up in value over the long run as well their purchasing power. Just sit back and consume. Bitcoin still doesn't save them. They could buy up the bitcoins with whatever euros they have on hand, but then they'll still need to spend their bitcoins. If they are trying to spend more than they earn - no matter what currency is involved - eventually they'll run out of money. I think you're missing the bigger picture. The first country that introduces an honest currency should prosper. People who may have never found it worthwhile to work or strive in the past will for the first time have an incentive to participate in a real economy not distorted by corrupt monetary policy. Good one. The "corrupt monetary policy" is what has afforded them the social welfare they're adamant on substaining. Bitcoin risks taking away all of these "entitlements" away. Bitcoin will never be accepted with open arms by "the masses". |
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You might wanna check the logs at bitcoin-assets too. Searching for Trezor, RNG will provide you with relevant discussions. TL;DR If you don't trust ARM HW RNG then use dice! http://log.bitcoin-assets.com/ |
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Buterin is right.
Distributed ledgers can be useful, cryptocurrencies, not really.
Only in a proof-of-work/proof-of-stake system you need a coin (that doesn't have a point and brings more problems than it tries to solve) to secure the network.
Also, bitcoin's scarcity is 100% artificial. If you want to compare it to gold:
-Gold as a material is not replaceable, bitcoin is theoretically replaceable by any shitcoin.
-Gold has intrinsic value (Jewellery industry), bitcoin has no intrinsic value at all.
I'm far from being a gold bug (I don't give two shits about gold/silver or austian economics in general, actually), but I just can see that the comparison doesn't make sense.
- The ripple network using the consensus protocol doesn't need an overpriced token to secure the network. Same for Hyperledger and others. The bitcoin network claims to be decentralised but mining centralisation issues undermine such narratives. Also, 100% decentralisation is preferable only by bitcoin cultists
Ripple, hyperledger are centralized schemes. They do not compare to Bitcoin. Mining centralization, despite "narratives" by less-than-honest individuals, has yet to be a "problem" or cause any harm to the system. In reality it can be argued that the network & mining is increasingly decentralized. - can be solved in ways that don't force you to adopt a currency only paranoid libertarians and drug dealers need.
Prove it - and why is that? It just makes it 100% arbitrary and artificial
Because asteroids mining etc.- Sure, when the earth will be a wasteland and mankind is over gold won't be valuable. But right now gold has intrinsic value for the Jewellery industry, people use it for itself not just as medium of exchange, a unit of account, or a store of value
"intrinsic value for the jewellery industry" lulz- yes there is, if people use it for itself and not just as medium of exchange, a unit of account, or a store of value
whatever, that has nothing to do with the portrayed value of gold. its malleability or the fact that its shiny does not make it better money. "intrinsic value" if such a thing exist, is not a requirement of sound money. |
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Buterin is right.
Distributed ledgers can be useful, cryptocurrencies, not really.
Only in a proof-of-work/proof-of-stake system you need a coin (that doesn't have a point and brings more problems than it tries to solve) to secure the network.
Also, bitcoin's scarcity is 100% artificial. If you want to compare it to gold:
-Gold as a material is not replaceable, bitcoin is theoretically replaceable by any shitcoin.
-Gold has intrinsic value (Jewellery industry), bitcoin has no intrinsic value at all.
I'm far from being a gold bug (I don't give two shits about gold/silver or austian economics in general, actually), but I just can see that the comparison doesn't make sense.
- Distributed ledgers are not possible without a native token. At least not in a desirable, decentralized way.
- It does have a point. The point being to solve the Byzantine Consensus problem.
- Mathematically enforced scarcity is much better than physical scarcity.
- People wear gold around their neck because it is valuable, not the other way around. There was once a time were king's crowns were made out of aluminium
- There is no such thing as "intrinsic value"
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If this bear market has been largely caused by Chinese miners that can do nothing with bitcoins except sell them, then it is likely to end when one of two things happen: Either they run out of stockpiled coins to sell over and above coins they are mining, or when the Chinese economy gets so bad that they realize that the killer app is to sneak out of the country with them.
Right now Bitcoins seems to be an answer in search of a problem: Most obviously capital controls in a world where capital is still largely mobile. When this situation changes, it is likely to be sudden and swift although the time frame is difficult to predict with any accuracy.
Miners aren't the ones selling in this market. It's pure speculative manipulation. A miner would never dump coins and cause the price to decline. They would sell the minimum number of coins necessary to cover costs at the best price possible and stock the rest for a much higher price. Lets put this one to bed, miners are not dumping coins and they are certainly not doing them as a market order. Best... Post... Recently. Gotta agree with rolling. Miners are among the most optimistic of the bulls as a group. It doesn't matter how optimistic miners are. Miners have to service their debt and to meet expenses just like everybody else. If you postpone selling because of a bear market, you can end up NEEDING to sell more rather than less because the price is lower, the loan payments are higher and all your other expenses remain the same. It doesn't matter one bit if it's market orders or limit orders creating more overhead resistance. Unfortunately you are making the popular but incorrect assumption that mined coins are mining companies only revenue streams. |
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I highly doubt that this time there will even be enough bidders for all 50k coins if the price is >100$
They struggled to find enough last time. Market is saturated.
FUD  |
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Did the previous auctions crash the price  |
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^
From the article you quoted:
"The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate."
Are you a Swedish commercial bank? If not, you're unlikely to get credit from teh central bank. So now you know.
but that's the whole point |
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This video appears to show a MyCoin.hk convention in 2014: http://my.tv.sohu.com/us/201860874/69946081.shtmlGiven the number of atendees in that event, the claim of 3000 victims now seems more credible. The gray-haired Westerner may be William Dennis Atwood, the director of the parent company who seem to have left shortly before MyCoin.hk collapsed. The CCB reports that 43 investors between the ages of 21 and 71 years old lost anywhere between HK$50,000 to HK$15m each when the exchange ceased operations. Such estimates would place the total consumer loss at HK$63m, or $8.12m at press time. http://www.coindesk.com/mycoin-hong-kong-police-8-1-million/Just a little off from previously reported 387$M..... |
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Fucking autocorrect.
There won't be any war.
Fact : Gavin will release Gavincoin Fact : Mircea (and friends) will try to dump their Gavincoins and buy Mirceacoins These facts need a percentage. How many people support Gavin? How many people support Mircea? This is not a vote. It is a show of strength, of power. The amount of BTC they own is all that matters. I was not talking about votes. The analogy here is war. Then how many people will be fighting at each side? That's my question. If the difference is too big, then this doesn't make sense. It's not about how many people are fighting on each side but how much resources are available to them. hint : MP&co have quite a lot. |
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Fucking autocorrect.
There won't be any war.
Fact : Gavin will release Gavincoin Fact : Mircea (and friends) will try to dump their Gavincoins and buy Mirceacoins These facts need a percentage. How many people support Gavin? How many people support Mircea? This is not a vote. It is a show of strength, of power. The amount of BTC they own is all that matters. |
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Page 11337?
Not quite the same as 1337 but I was here for that too.
I see we had a foolish 12k dump on Finex that dropped the price about 1%. LOL
Back to bed.
And not even a reason for which it's been dumped... I will give you a reason > freshly mined coins. Coins are freshly mined every 10 minutes, your point? |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
This essentially has nothing to do with Bitcoin. The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism. Of course suckers at the bottom paid the bills for the ones at the top. No actual Bitcoiner was hurt in this experiment  could have been the exact same scam with rare metals or whatever But it wasn't...because rare earths don't attract scammers, crooks and con artists at quite the same level as BTC. Another nail. |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
Correct that far. However, an academic (ahem!) in Hong Kong called for tighter regulations on bitcoin. That by itself does not mean anything, but it is noteworthy that the news arrticle closed with his opinion. There may be repercussions on exchanges. And then we have the current dump. Just a coincidence, or triggered by the mycoin.hk news? Letīs hope that the PBOC putīs an end to this scam and finally protects itīs citizens. I already wrote them 3 mails in the last 7 days. |
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so the scam was..
give me money and i will mine bitcoin for you...
ran off with money...
bitcoin never got mined...
-> there will be no dump
This essentially has nothing to do with Bitcoin. The equivalent of someone creating random wealth management ponzi and switching "trading performance" for "mining revenues" as a wealth generation/redistribution mechanism. Of course suckers at the bottom paid the bills for the ones at the top. No actual Bitcoiner was hurt in this experiment Letīs just hope that you are not one of the suckers when the next exchange (Bitfinex, okcoin...) blows up, cause they are probably acting with fractional reserve. Which means that you never had or traded "real bitcoins" (aka mining revenues, trading performance). Let's just hope that you end your miserable life |
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Some whales throwing their weight around this morning
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