I love the smell of failed whale schemes in the morning.

Guys, you heard it from [Date Registered: November 15, 2013, 01:22:48 PM], show's over. See you at the next Ponzi.

every damn time. what happened to good old "lurk moar"? here's your answer: the (highly secure) blockchain is most likely not the ideal medium for micro transfers, and probably not even for small-ish transactions like paying for your coffee. That doesn't mean Bitcoin will fail, it only means there will be ways to perform smaller transaction off the chain.

I like their colorful pictures There's one with rabbits on the site itself.

Don't feed the trolls.

Of course his tx would have gone through faster had he put in a fee higher than zero :D

/subscribe

I personally think there's a critical jump from ~10B to ~100B. The former is something that the regular investment types still sneer at (just read an article by some Stanford kid a few days ago, "explaining" why Bitcoin isn't really interesting for the field of economics yet), 100B is respectable, getting close to the market cap of a global company (like, say, Apple).

What to take from that I don't know exactly: it both means (in my opinion) it will be harder to cross the next order of magnitude, and it might actually require an additional step up in btc infrastructure, merchant adoption, mainstream acceptance (something that wasn't that vital up to now, IMO), but it also means that once we cross that level of 100B, a whole new array of people and institutions will take note of this little gamble we have going here.

Japanese girls are cute, but the teeth... or my good, the teeth. Makes the Brits look like dental care fanatics in comparison.

You know, I personally think you're one of the less uninformed bears :D

Huge +1 from me.

This is not about the technical problem itself. I understand that DDoS and the banking software problem can take a while, and I also understand that you now have a backlog that hopefully gets worked through within a few days.

But, really, Hazek: next time there's a meltdown like yesterday, please give us AT LEAST ONE UPDATE PER DAY.

There is ALWAYS enought time for that. A quick note so we know you're working on it, and didn't run away with our coins/money. That's all I ask for, and I really think you should keep it in mind.

One. Short. Update. Twitter, or email, or news item on the webpage. Your choice.

But one update per 24h.

That's all.

I asked for a 'Bitstamp fiat ticker' more than a month ago. Got a friendly & positive response from Raphael, but obviously it wasn't implemented in time. In a situation like that of the past week(s), that made trading via bitfinex a risky proposition.

Add to that the useless comment I got from Giancarlo a few pages ago when I said that trading on bitfinex own exchange invokes too much slippage and is therefore no alternative to execution on bitstamp ("just use limit orders", was the imbecile's answer), and I decided a week ago to give bitfinex a rest for now.

Transfered my funds to bitstamp, which is far from perfect as well of course, but at least one problem is taken out of the equation: if you have fiat on bitstamp, you actually have fiat on bitstamp.

Somewhat sad to go, bitfinex is great in many respects. But neither Raphael nor Giancarlo really seem to understand how frustrating the Bitstamp fiat problem really is for traders, otherwise they would have done *something* different about it, and if it only would have been implementing the "fiat ticker" mentioned above.

If I had to guess: bitfinex funds arrived on stamp?

Bitstamp is really starting to disappoint, in my opinion. Bitfinex not much better either IMO. Mtgox not worth mentioning. Where to go, where to go...

Since your analysis is usually based on mtgox data (correct me if I'm wrong), I'd like to add one thing: the markets are reactive to each other, and right now, everyone else is almost certainly looking at where China is going. But there is also the notable fact that Bitstamp resisted the craze of the past days much more than gox and btcchina, for example the gox ATH log line applied to bitstamp's reduced price proved to be a point of resistance.

My point is, stamp was reluctant to join the run-up, corrected back earlier, and now, interestingly, is back up on its feet earlier than the others (green daily candle today, while gox and china still had some correcting to do I guess ). I take that as a pretty bullish sign, if the "bear" exchange is going up again.

Did you buy back yet? Please do so, quickly, because your constant bitching about the impeding failure of all things bitcoin is getting grating, you know.

I don't see sub-300 in the current atmosphere. China is about twice as high as that, and their volume currently dictates the overall impression of buying pressure.

Not saying it can't happen in the future, but some fundamental sentiment change in China would have to occur first.

I'm also not happy with the communication of Bitstamp. A short note on twitter is the least they could do, even if they can't fix the problem immediately.

That said, you're maybe not entirely fair about the "all exchanges are run by drunken apes". A major reason for exchange downtimes appear to be DDoS attacks. The sites don't handle them well, true, but then again, which (non bitcoin) sites do you know that *do* handle DDoS without downtime? The effect is just more spectacular in our case because traders tends to get twitchy when they can't log in and trade.

That one cuts both ways, no?

"Aah, the inefficiency of the legacy banking system, and political limitations of transfer of wealth that allow such a disconnect to persist."

The disconnect is staggering, no? I mean, I got used to mtgox prices being 10% higher than bitstamp, but right now it's more than 20%, and China's price is just plain unreal considering how much lower Bitstamp is.

What do you expect to happen? China pulling the rest up again, or the Bitstamp pulling everyone down? Or will it stay the way it is? After all, arbitrage between exchanges seems to be slow and not very effective in the past.

Ah, I see. I forgot the ingenious "I read it in a book", no wait: "I read it in *many* books" defence.

You expressed concerns that this rally is running on low volume, a sign of divergence. That argument however assumes that you are concerned that not enough money is entering the market to sustain the rally. Hence, USD volume is the important factor here.

I'm not saying btc volume is never a useful metric, I'm not saying this rally will "go to the moon", but I *am* saying that if you seriously believe that after a 50-fold price increase since January we must have the same btc volume to sustain a rally, or at the very least: sustain the gains we made, you'd probably  be wrong