Yeah, I expect more quiet movement again. I mean, after all of that trading activity yesterday, the last 16-20 hours have been fairly quiet. I look at the chart and see more of a raised floor rather than a rally.

Oh, how I would love this to actually happen. It'd be a hell of a birthday gift, hehe. (Nothing like some awesome birthday money!)

But, I have no clue where all of the money would come from. After all, if this were to happen, the influx would have to outpace the needed amount to account for new minted coins. Assuming a 50% outpace, we're talking about $5 million a day growing to $20 million a day.

[Not that I'm saying it can't happen, but I just don't know where this money would come from.]

I'm not sure if this necessarily ushers in a new bull run, but this level of volatility hadn't been seen for a while, especially after a fairly quiet period before hand.

I would like to think this is another strong run, but I can't convince myself of that conclusion. That's why I sold a few coins on Coinbase when it hit just over $500.

Signing up for this month again!

Starting Posts: 637
Bitcoin Address: 1McsWyhHa9eFuHqtjHmA4wP6WNVfRvDVNA

I really see it being just "for a while." With all of the politics that are intertwined, there would easily be a slew of other countries that the slack would shift onto. It's all a matter of contrarian policy.

Fundamentally, the protocol doesn't need a foundation. But the existing use intertwined with the already established state can greatly benefit from solid advocacy. After all, lobbying and providing support is almost always a necessity for the furthering of something in such a muddy realm.

I'm inclined to believe that this is the case much more. After all, his overall personal wealth is well over 5 times the amount of the Bitcoin market cap.

Of course though, he could just quietly buy for a little while, further the already existing infrastructure and end up with even more wealth. Admittedly, that wouldn't be bad at all for the long-term of Bitcoin.

Scarcity isn't what made Bitcoin as great as it is right now. It was the security of the network that did.

The problem with CPU mining, and frankly GPU mining to an extent, is the threat of bot networks either affecting the value of the coins, or possibly even threatening the network itself. Those threats inherently impact value negatively to a great extent.

Regarding your question on whether Bitcoin can be replaced by a future crypto-currency: yes.

Will it be either Mastercoin or Ethereum? I wouldn't place a bet on that.

Mastercoin acts as a blanket on Bitcoin, so taking over Bitcoin in that regard would be quite difficult. As for Ethereum, it functions as a contract sort of system, so it could function in that regard as a takeover of Bitcoin. The success of either would have great financial implications either through dilution of market, or as a transfer of the largest market.

Yeah, this is what a lot of people tend to do in this realm. A lot of the trading depth in the crypto-currency world comes from those who trade through emotion and expectations of winning. The mindset that they have to win, they should win, or that they will win because they are "better" ends up beating a lot of people.

Of course though, one has to also recognize that in this scene, a lot of the traditional fundamentals do not apply because of the lack of regulation, constant dilution and exceptionally high risk that exists with Bitcoin (and all of the many alternate crypto-currencies).

This is a fairly solid analysis. Although the way I look at this, there is an assumption of a somewhat static (at least in terms of a moving trendline) growth and decline period that has to oscillate in some fashion.

As for short-term trading, you can compound the given parameters and work the numbers in the opposite direction; these will be done during periods of significant deviation from the “baseline” trend. Given any growing or declining trend, there is a period of “relative stability” that acts as a sort of counterbalance. With that, any round-trip transaction that exceeds the ask-bid spread with the addition of fees and taxes, ends up being profitable in terms of fiat. The trick is determining the appropriate “baseline” trend.

Huh? You're not being ripped off. If you bought in at $1000, that was of your own accord. Same thing with "why this is happening" to you. Don't jump in if you're unwilling to accept the risks. It's just like a lot of things involving money.

But think of it this way, this loss in value was the cost of learning about the crypto-currency scene. And it's still growing, who knows your "loss" might really be a "gain" at some point.

Yes, targeting students (primarily students in their late teens, i.e. college students) is a smart move since they’ll be the ones who will be making tomorrow (at least to a significant extent). I know that it is cliché to say, but they really are a big portion of how things evolve in so many different aspects (including financial and technology scenes). As someone said earlier, this is a very strong medium to long term move.

I mostly agree with this sentiment. Historically growth in India has been slower because of the social systems and the constant status quo of disparity. So it'll be hard to gain lasting penetration.

However, this disparity has burgeoned a small group of people who are quite financially adept (i.e. the people who run the major in-house IT companies, and there are a few of them). So there is definitely a market that can be tapped into.

I don't necessarily see all governments cracking down on BTC. After all, with all of the various types of posturing and conflicting stances, it wouldn’t be too far-fetched for some countries embracing BTC. I mean if the U.S. cracked down on BTC, I’m sure that would make BTC more appealing for all of the political enemies of the U.S.

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

Although I do agree that the short to medium term prospects are positive, your chart actually implies that we still have to underperform the linear bounds. So we could still "dip" a little more. But then again, unless you have a contract to do a very quick short, it'd probably be a loss.

I say that it'll hit that height again in August of this year (just the first stopping point in the next rally). There's likely going to be some very high-impacting incidents over the next few months that I personally think is going to cause another sharp rise.

To be frankly honest, I'm surprised there aren't more incidents like this. It just seems that the ability to have little purview over a system with a fairly high computational power would invite this sort of thing more often. There's gotta be more incidents like this right?

Yes, a very, very, very tiny bubble. But hey, a bubble's a bubble right?

What? Where did you get that the population of India is over 10 billion?

Anyhow, yes, as many others would agree, the economy is quite small and their financial markets are not as developed as many of the other countries that could make an impact.