Guys! Stop mocking him! Clearly, he saw the $1 crashes coming and reliably warned us about them! Now, we're definitely in for a huge crash. A crash that will bring the bitcoin price down...

... $3!!

(°0°)

Here's how I've felt for the las week or so when it comes to the bitcoin price:

And then, nothing happens.

I see us breaking through the ATH downtrend this late August, or early September. The logarithmic one, anyways. I think we already broke the lineal downtrend. Chartbuddy, I leave the mic to you.

I just got an avatar! I am so, so happy! Since day one, I wanted to use this avatar, in this forum. That got me thinking to ask everyone here about their avatar. What is the image? what does it mean to you? ^{What meaning can you make up for it?} I love black-suited spiderman because he is the balance between good and evil. Power corrupts, and even those that know they must do good can lose themselves in it. So one must always be careful not to step on the little guys. Not to fuck people over just because.

Also, venom is awesome. And so is spiderman. Both in one character? Cool.



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Canada. It's like the US, but more canadian. That, or the US. I'll make up my mind in one or two decades.

Now, we wait. I, personally, think that we'll be seeing small pops up, followed by flatness. Slowly getting back to $240.

... and it looks like were back in flatland. I feel good seeing the price go sideways, even though it gets boring after a while. Lets move up soon.

Exactly, that is my point. Bitcoin has as many, if not fewer middlemen. Bitcoin is easier to use than a bank (though, they are somewhat required to obtain bitcoin). Bitcoin has as few middlemen as you'd like (like what the other guy said).

Majority!? You named three transaction types. Bitcoin alone has several scenarios you failed to mention solely for the misrepresentation of the cryptocurrency in order to (wrongly) assert that it has many more middlemen than fiat transactions.

Bitcoin
Purchasing bitcoin using fiat in exchange:      Bob → Bank → Bitcoin exchange → Alice (selling is the same, backwards)
Purchasing bitcoin using fiat:                       Bob → Alice or (more recommended) Bob → escrow → Alice
Exchanging bitcoins for goods personally:      Bob → Alice
Exchanging bitcoins for goods at a distance:   Bob → Alice or Bob → escrow → Alice

[Well, seems Elux put it better than me]

chmod755, there is a very fundamental flaw in your "middleman diagram". You include where the people got the bitcoin into the "middlemen" that hande transaction of bitcoin between the network users. You failed to include the employer, the mode of payment the employer uses (it usually involves a bank), and the impossibility of sending cash to people 2,000 miles away in 60 minute's time in the cash part of the diagram.

It fails to include P2P transactions for goods, where (if you ignore the middle men of obtaining the bitcoin, as you do with cash) it not only performs the same, but above cash, due to the reliable 60-minute waiting time (at the moment, with a $0.0001 fee) one must wait for bitcoin to "arrive" (multiple confirmations of the transaction), regardless of where in the world you are sending bitcoin to. Not to mention that you never need to worry about change.

I'd love to see it go to $235 today, and close at $2 40 tomorrow. What we really need is to break through $300 this month. And I think we will.

No, the crash was during the weekend! Now, its the dead cat bounce, before it crashes down another $2. Hell, maybe it'll decrease $5 in value!

Hopefully, we'll be back to 225 tomorrow. Then we'll have a bunch of trolls calling it a dead cat bounce.

I was in the US, but I've recently had to move to Guatemala. So... yeah.

I tried to verify on bitstamp, but I dont have any of my bills to my name. I really dont mind providing my ID, but it seems I just cannot easily verify my address. I've been forced to purchase marked-up bitcoins on localbitcoin. Are there any exchanges that deal with the real price that are more lax in verification? Ideally, ID-only.

I use localbitcoin, because it's the most immediate thing I could find. I dont need verify anything, and all I've had to do is deposit to the seller's bank account. I mean, yeah, I would like to get cheaper coins, but I cant verify anything, because I live with a friend, and no bills are to my name. Well, I've only tried on bitstamp, but it seems most exchanges that use the real BTC current price need address verification. So, I'm stuck buying bitcoin marked up by 12%.

I'd like this new stability if it had the price slowly going up. But it looks like we've been in a downtrend since we moved from $242 to $235. Well, at least we've moved up a few cents since the beginning of June.

  So, buy orders automatically fill against sell orders, on btc-e? Is this standard practice across lots (or all) of exchanges? I thought it would end up looking this:

SELL                                                              BUY
2 btc at 10 euros <--mister a order                1 btc at 220
1 btc at 230                                                1 btc at 200
1 btc at 240                                                2 btc at 250 euros <--mister b order
1 btc at 250              



(then orders match)                                                                
SELL                                                              BUY
2 btc at 10 euros <--mister a order                1 btc at 220
1 btc at 230                                                1 btc at 200
1 btc at 240                                                1 btc at 250 euros <--mister b order
0 btc at 250              

So, it's a question about btc-e? Because this looks like a general question about how exchanges work. Also, I'd like to know why I'm wrong in the matter.

Mister A will definitely sell his 2 bitcoin at 10 euros, minutes (maybe seconds) after placing his sell order.
Mister B will buy 2 bitcoin at a $250, quickly. Mister A is selling his bitcoin cheap. He will sell them easily quickly in the market. Mister B said he wants to buy bitcoin at $250 (more than market price). He will find someone selling at that price easily.

Think of bitcoin like you do gold. Some people sell gold for cheap, some people sell gold with a value above market price. If someone sells you a $1 (real) gold ring, you can sell it for $0.5 or $2. The price you ask for bitcoin is up to you (to buy or sell). The price people will actually buy/sell bitcoin at depends on the market's whim.