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I agree with some of the earlier posts that in the western world we are seeking a skewed view and not taking account the large volume of trade that goes on in China and Russia in their respective currencies. For the rest of us, USD is a solid observation and indicator of health as a majority of the services built are done so in the most liquid market which in our case is USD.
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Is it worth the electricity bills to mine in australia?
Also how much can you make per day mining with a pool like slush's pool. I understand it will depend on your rig I am just wondering what the average person is pulling.
Probably not with bitcoin. Or very little. Especially as you will be paying more for hardware too. |
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Maybe, look how bitcoin turned out. 20-25>7>2>14>24>66>120>266>240>160>85>123>120
You forgot to include 0 at the beginning...  |
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I seriously doubt any domain seizures will occur as the US bank account seizure has nothing to do with mtgox.com or bitcoin. From the feds' point of view, money was sent from Dwolla account A to Mark Karpales' Wells Fargo account; then from Mark's Wells Fargo account to Dwolla account B. Case closed: Mark's Wells Fargo account is operating as a money transmitting business, entire enclosed within US borders, and can be seized for lack of a license. Why he didn't sign up for a license is beyond me.
DHS is specifically targeting MtGox, though. Right now they are doing it through the most convenient means, through shutting down bank accounts. I highly doubt they are going to stop there, though. IMO, If they cant take down the exchange through seizing accounts, they will do it in court. This is also going to set a precedent on how they handle the other exchanges dealing in the US as well. http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/evolve, I'm with you. Mostly out of laziness, I had all my trading funds on Mt Gox. That's just too much risk. The recent events left me a bit rushed, so I temporarily pulled things to a local wallet. After spending a few days, I decided to throw a little into CampBX. Their splash screen sent me the message "We get security, and we're gonna play by the rules in the USA". I also read between the lines that they have a strong management team behind them. A smart elevator pitch on entry to their site. A marketing campaign to compel viral growth. My first impression, they're at least giving off the appearance of professionality. I guess time will tell. Yeah, it's clear quite an important amount of coins left Gox. I'm watching this closely, there will be a lot of money to be made when the market reacts to any news like this. Especially on the short side. |
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God, please change the title.  +1 +2 +3 +4 +5 Now I'm curious... what was the original title? |
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Put me down. I would be interested in contributing towards this.
The Uk for a very long time has been a global hub of the worlds banking industry. We need to represent.
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It will be up on YouTube as soon as they get it edited and uploaded.
Uploaded yet?! Dang, I missed it. I'm waiting for the youtube vid. |
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Day trading with anything is a lot of risk... but at the end of the day, you only loose what you put in. (As opposed to real day-trades, where you are "forced" to cash-out at the end of the day, thus all losses are "realized", not "figurative".) I hope it goes down to 50 or 60 again... (That is the half-way drop from average.) That is both expected, and welcome, from me.  It will rise, because losses are now real, as more coins sit in "buyers hands", rather than sellers hands. (Well, coins that are not lost or stolen/destroyed.) Thus, those losses are, "realized", and limiting the majority from "selling short", because they just can't, or they loose! I gotta find that place that does hedges... Then I win more, when it falls! See siggy. Theres a lot of money to be made in these volatile markets. |
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However, I will admit that a better cryptocurrency could come out, but the only way it would would replace bitcoin is if it was a massive improvement. Otherwise, Bitcoin will stay on top for no other reason than people know about it and it is a proven concept.
+1 In technology, the first player to the game that produces a solid solution for a problem is the one who will dominate the market for a very long time. Think Microsoft to operating systems |
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Can you set up a poll for this? Did they disable polls?
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Been mining for 2 weeks and just lost it all.
Fml.
I r twat.
The front page of satoshidice says guaranteed 98% break-even odds as one of their main marketing statements. I don't understand why people find it so hard to interpret the statement's real meaning: Guaranteed 2% lossAnd here's a quote from Warren Buffet: On my honeymoon I traveled out west. When I visited the casino and saw all these smart well-dressed people participating in a game with the odds against them, it was then that I realised I won’t have a problem getting rich! |
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Good question. I was wondering if anyone would ask about that. 1DodGY was in cold storage, and I had other funds available to repay people with. People don't care which coins they're paid with just so long as they are paid. Thanks for keeping an eye on things though. But really, if I had just claimed to have paid everyone out, but not actually done it, don't you think someone might have spoken up about it by now? Cheers for the reply, I admittedly didn't pay too close a detail to this saga but just had a snoop through your addresses history. Cheers for clearing that up! +1 Its coming up to 15 months now. I appreciate the efforts to get as much paid back as possible. Have you had any further thoughts about what you are going to do with the final 25% of payments? |
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Its said the markets move by fear and greed. Given that the last bubble popped when mtgox had issues (greed turning into fear of losing money), my guess is whenever the price rises significantly again and get greedy.... I say itll take around 9 months.
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Re-read this post. Optimization and the 10 & 21 moving average crossover systemIn order to determine the robustness of our trading system, I have decided to see how our parameters hold up when they are varied. To accomplish this, I used NinjaTrader to do an optimization of a variety of periods for our moving averages and I have graphically shown the results below. This type of analysis shows us very important information - regions of profitability. For nearly every technical indicator, there are parameters which you input (such as 10 and 21 in the moving averages), which determine how much data it uses in calculating values. If you have a trading system which only works with a certain combination of parameters, this is a curve-fit system, or a system which will probably not hold up well in the future. In order to insure robustness, or its ability to hold up in the future, a system must be rigorously tested across a variety of markets and a variety of settings. In the chart below, you will see 620 moving average combinations with their respective profitability. It is important to note that the data has been normalized, so the number you see is meaningless - it is just a comparison to all of the other data points. Additionally, it is very important not to look for the best value, but rather look for a region of profitability. Markets change over time and the best results today probably will not be the best results tomorrow. This said, it is important to try and place yourself in the region in which you will more than likely be able to survive and profit in the future. -Red = below average -Yellow = average -Green = above average   The image above powerfully demonstrates the use of a simple technical trading concept applied to the markets. When you are creating a trading system, you must question where the inputs came from. Why did I choose 10 for my short moving average? Why is 21 a good moving average length? In order to protect your money, you must begin asking "why" to the decisions you make. I suggest that you critically analyze, quantify, and backtest every aspect of your decision making so that you can behave in a consistent, confident, and disciplined manner as you trade in the markets. Goomboo, can you teach us how to create those tables in NinjaTrader? And BTW, why did not you use 11\21? I wouldn't mind seeing this either. Given how much interest this post has got, I'd love for you to teach us more about technical analysis and backtesting in general (not just how to use 10/21 SMA) |
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I'd like to know how they're doing it given that all of the brokers that have tried to set up shop in australia have gone bust because their accounts keep getting shut down. Mtgox AFAIK isnt trading much AUD these days....
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My fiat is not on Gox, and odds are if we go over $125 I won't buy back in. If I can get cheap coin I will. but i do agree with you over all. Once people see they can't get coins under 100 we might jump to test 160 again. but then again, we might see 80 soon  But clearly there is lots of fiat on the order book, it's just in the "hoping for a crash" range. It doesn't help that all the people waiting for a crash are posting the bubble is about to burst, crash is coming, sell your btc. They fail to mention if it did drop, they'd buy it back up faster then you can blink. Shit I hope it crashes too. It's easy money. At the same time I'm not going to go around making charts trying to scare the fish. If you have to scare the fish, you are doing it wrong. The fish should just be doing what you want without them being aware  Indeed, a bubble collapses because new buyers diminish. Most of the trades from here to the bottom of the bubble will be the iterative transfer from weak hands to stronger hands. Hands become weak as fewer successive buyers prop up prices. Do you think we are currently in a bubble? I think the $100 mark is psychologically important to a lot of investors/speculators/traders. I'd love to hear of someones Fibonacci analysis on this one. |
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Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls. I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots. *edit* To clarify, I believe the API functions to query order response / account data were changed. Plz forgive my ignorance. Are the bots hostile toward Mtgox? No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface). Why do they use these bots? Do they analyzing data, and buying and selling btc automatically? I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way. That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz? 1.3% intervals is obviously a figure you've arrived at after a great deal of trial? I'm not sure I'd trust a single signal to trade on. If you're looking for something simple, a balancing strategy is decent. Basically, you keep 50% of your value in bitcoin and 50% in USD and rebalance once a week or so to maintain the ratio. Obviously, you can use any ratio you want. Keep a little more in bitcoin when things look bullish, keep a little more in fiat when you're bearish. I wouldn't rely solely on one indicator. But MACD might be a primary, and refer to others to paint a more detailed picture. I've only been learning about indicators the last few days, so have a lot to learn. I have no idea where to start with bots. Where to get one, or how to use it. I'm curious about such things, but probably dont have enough time or money to invest in btc to make it worth while. Or is it simpler than I might think? Thanks again for your advice. I have some work to do on my trading method, and your a big help Questing, you should look up technical analysis. A lot of bots will do this. I used to run a number of bots, one which ran arbitrage across a few brokers averaging out the price across them and others which used technical analysis. They are / can be very very successful if you know what you are doing. There is a lot of potential to make a lot of money doing this still. I turned my bots off recently to concentrate on other bitcoin projects, all funded using the profits I made bot trading. notme: did you have to update your code recently with all the mtgox api changes? my scripts were caught out a number of times by mtgox upgrading their api. Last week it was them turning off anything sending orders to their non data.mtgox.com url. |
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I just registered my vote. I don't use dropbox much, or would pay for an upgrade but I'd definitely like to see more online businesses like them accept bitcoin.
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$100 will trigger a whole load of buys and reverse any trend. Psychologically the $100 is an important crossing point.
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