People pay higher price for BTC expecting price to rise, if it does more value, If it drops there BTC loses value.
People sell out there BTC if prices fall, more BTC can be gained. If it rises you lose BTC.
Two ways to profit.
I'm personally in the latter. Gaining BTC is in my mind, the only real way to make long term gains in this market.
That aside BTC is still a bit of mystery. Is the current price healthy? A farce? Undervalued? Overvalued? Everyone has their own ideas, so you should make up your mind, but consider it carefully.
The other way to make long term gains is to buy and hold. |
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When do you see this happening? I would think the influx of investors on Tuesday would necessitate it happening before then.
Why would a bunch of new money on Tuesday cause the price to go sub-$100? He's saying the influx makes it necessary for a such a dip, if it is going to happen, to occur before the new money arrives. |
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Don't the Chinese like Linux?
Perhaps the Linux users self identify as Windows so as to not stand out. I would do the same if I knew my internet traffic was scrutinized as closely as theirs is. really ? will you run windows version on linux ? Those stats are based on the brower's user agent, not which OS the bitcoin executable is compiled for. That looks like the stats for one specific file, not the whole project. Since the Windows numbers are so high, I'd guess it's the exe, not the tar.gz. Linux downloads are tough to get a count of since many people get it from their distro and many compile it themselves from git. |
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Bitcoin needs distributed block chain storage. This will fix everything.
This. There is no reason why every node needs to store every block. Luckily, the solution is obvious: blockchain pruning. As long as there are 100 or so copies and the people who care about the transaction store it, the blockchain can be completely reconstructed. Some will still archive the whole thing, but it doesn't have to be necessary. |
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 Don't the Chinese like Linux? Perhaps the Linux users self identify as Windows so as to not stand out. I would do the same if I knew my internet traffic was scrutinized as closely as theirs is. |
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My guess is both of you wont be on vacation anytime soon..
160 to 50 haha huge spread
But you can triple your bitcoins that way!  |
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Maybe. I think the 100 ceiling will hold for now, though. If not, it could be the set up for an epic bull trap.
So is China leading the charge into the bull trap?  |
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6 votes from me, address in signature
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Damnit China, I was promised cheap coins!!!
You had your chance  I would say its never too late  I would say never say never. But I'd say as long as we're still under $1000 it's not too late. |
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 709 Yuan = 115.18 USD |
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Thanks for the tip. Looks like btcchina is leading again with $112 bitcoins.
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Or difficulty shoots through the roof as ASIC start to ship in mass.
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the market is always right, eventually
FTFY The market is the aggregate of everyone's individual versions of "right" at a point in time; the "freer" the market, the more outlandish ideas of "right" are included in the aggregate. Is this an approximation of some objective reality? Sure, but only sometimes is it an accurate approximation. |
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if theres kid porn in the chain and i have the client installed, then i have kid pr0n on my pc. how do i verify the kid porn?
The thing is, it cannot be taken out of the chain without compromising the whole chain. That's not true. According to Theymos the software can be updated without creating a hard fork http://www.reddit.com/r/Bitcoin/comments/1dkqcx/i_am_theymos_ama/"Preventing arbitrary data storage is possible (without a hardfork, even) and probably wouldn't affect Bitcoin's utility much." That would prevent future arbitrary storage, but Elwar is correct that we can't go back and change the official record of history. To do so would break the proof of work chain. |
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Did you even look at the chart above your post? A monumental amount of btc would need to be sold for us to get into the 80s. Doubt it'll happen.
Slow climb to 105 over the weekend is what I see
You obviously haven't been watching walls that long. Hint: Those orders can be pulled lower at any time by automated trading programs. |
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the market is always right, eventually
FTFY |
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I run a market maker bot. I haven't run it in a while, so my trade fees are still pretty high. 1.3% covers the fees and gives me a small profit on each trade pair. The exchange makes quite a bit more than me off my trading at this point, but I'd rather trade more often to get my fees down for the longer term. I'm really just playing around with it at this point, but when the semester is over I'll have time to clean it up and add some features. I'll also have more time to watch it for a while, so at that point I'll start ramping up my trade volume. There's still a lot of volatility this market has to work out.
what does the bot do specifically? i'm curious how market making works... you place orders on both sides of the market and hope to capture the spread? what if the market moves against you? how do you close bad positions? More or less. I have some bitcoins that I don't mind selling at current prices. I prefer to get more bitcoins, but if price rises too quickly and doesn't retrace, I'm left with dollars. I then use those dollars to pay down student loans. I just try to keep the order size small enough that I don't get completely washed out of one currency. |
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so i have noticed a pattern
everytime the price goes up very few people are making threads and very few are expressing that it's going to the moon
on the other hand every single time there is any drop regardless of it's size there are several threads that pop up "crash" "are we crashing" "this will be 50 by tomorrow"
a lot more "negative sentiment" one direction over the other.
is this just human nature or what's the reason people get really loud as soon as price starts going down and are more mellow when it's going up
It's just new users feeling the sting of their first market top. |
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i'll be waiting with my fiat just like last time it crashed to ~$50
I'll be buying every 1.3% between here and 50 just in case we don't make it all the way there. LOL... May I ask how you decided on 1.3% I run a market maker bot. I haven't run it in a while, so my trade fees are still pretty high. 1.3% covers the fees and gives me a small profit on each trade pair. The exchange makes quite a bit more than me off my trading at this point, but I'd rather trade more often to get my fees down for the longer term. I'm really just playing around with it at this point, but when the semester is over I'll have time to clean it up and add some features. I'll also have more time to watch it for a while, so at that point I'll start ramping up my trade volume. There's still a lot of volatility this market has to work out. |
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i'll be waiting with my fiat just like last time it crashed to ~$50
I'll be buying every 1.3% between here and 50 just in case we don't make it all the way there. |
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