I see two problems with you guys complaining about the price.
1) You never calculate the price of BTC when considering ROI. What if BTC goes to $200, $300, or even higher? It seems all calculations assume ~$100 price forever and everyone's ultimate conclusion is that you could never make a profit.
2) I see 1.0 BTC price as a parity with available GPU's. It seems that 1 BTC , ~$100 can not buy you 300MH/s of GPU power. Doesn't that make this USB ASIC a better value than a GPU? Let's forget spending $5-10k on a huge ASIC setup and getting more MH/s per $, I'm speaking for the little guys here who might have been contemplating adding more GPU's while BFL and other companies completely fail at shipping their ASICs.
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hell ya back up we go when there 150 in a week you are going to kick your self for not buying now!!!
+2 +2 -4 = 0 Some people didn't have time to buy, because they were most likely sleeping. There are order types that will help you when you sleep. Sleeping is never an excuse for "missing out" on some type of market activity.
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This hit my Facebook feed a few minutes ago: Hello all. We've released a statement regarding OKPay's intention to stop processing transfers to/from all Bitcoin exchanges, including Mt. Gox. For all of our customers using OKPay, please take a look and understand your options: https://mtgox.com/pdf/20130528_okpay_statement.pdfThis is the status for the time-being, but we're hoping for positive developments in the future. Yikes.
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It's any dump on MtGox now? (from $ 135.5 to $ 132.5) Just the normal weekend dip I have been waiting for You waited all weekend for a 3 dollar dip? Depending on how many BTC you are trading a $3 dip could be huge. But I highly doubt they are playing with a couple thousand BTC I'm sorry. That was when it was just starting. Here is the real dip. Buy up fellas!
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It's any dump on MtGox now? (from $ 135.5 to $ 132.5) Just the normal weekend dip I have been waiting for
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q question, is there already a definition for a "tick" for bitcoin? 0.01?
You mean a pip? 0.001? I would say no there isn't an official definition. Back in the Bitcoinica days he made the platform look like the 5th decimal place was a pip. Looked just like a pro forex site. Also, Bitcoin goes out to 8 decimal places, yet a lot of the trading engines cut off at 5. Kinda sucks.
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It has been discussed before, but I think it is still a big problem. Most of the world's currencies allow you to buy something with 1.0 units or above. For example, in the US we have these 99 cent stores. Kind of a joke, because most things in there are prices above $1.00 and after taxes are certainly above $1.00. You would be hard pressed to find something to buy elsewhere that is under $1.00 as well. People like big, round numbers. I'm assuming for most countries in the world it is the same, where most things purchased are typically over 1.00 units of the local currency.
Bitcoin is currently valued so high that many things are easily worth less than 1.00 BTC. In fact, you might be able to go shopping around town and never pay for something over 1.00 BTC. Now, if the value rises up to $1,000 USD or higher, many things that you can purchase will be worth fractions of a Bitcoin. Imagine paying for everyday items and it seems like you never pay more than 0.00321 BTC for example. Wouldn't that screw with people's head?
You might say we could just price everything in mBTC. Or you could do what was talked about a long time ago in the Bitcoin community and move the decimal place. I remember discussions where we were saying we could take a majority vote and move the decimal place (in the client code code) if necessary, just to make things look neater to the average joe. What do you guys think??
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One thing I do know, buy on this weekend dip, because we might hit all time highs next week when the banks open and more people can get USD into the exchanges.
Hahahaha. I'll bet you 1:10 that Bitcoin won't hit new alltime highs until the end of next week (until begin of Monday, UTC). Let me know if you are willing to do that, and how much volume (denominated in BTC). Source should be mtgoxUSD. I don't make bets on the price off the exchanges. I only bet on the price by placing orders on the exchanges. The more important part of my post that I was trying to get across was to buy the weekend dip. It's usually a pretty safe bet. There has only been a handful of weekends, IMO, where the price didn't dip on the weekends. I really suck at math so correct me if I am wrong, but my current theory is that if the "first" peak was at $32, then the second at $266, then we should see a new peak at $2200, or if you want to round out the next gain to 1,000% then we might see $2660. It might take a week, or it might take 5 years. Personally, I am selling at just under $1,000 so that I can wipe out my fiat debt
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I've been trading every day since 2011 and I didn't see that little mini rally coming. I thought we would do a slow slide down, stay sideways forever like last year, or maybe a little grind up. One thing I do know, buy on this weekend dip, because we might hit all time highs next week when the banks open and more people can get USD into the exchanges. Oh, and don't watch just Mt Gox. Seems like the time is right for the other exchanges to handle more of the volume.
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Even though it takes a week to get money into Dwolla, when I then did the deposit into CampBX it was nearly instant.
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Screw the black hole, I want to turn it into a free energy generating machine with perpetual motion.
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You should do a collab with Zhoutong.
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Why is volume on gox so low though? Last week we still had 100k+ volume
People are moving off of Gox since the DHS thing, is my guess. So, volume is picking up elsewhere. Yep. See blockchained.com graphs above to confirm. Although in the all-time scale it seems like a tiny blip.
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How much effort do you guys want to pump into a coin that has been trading at a profit 94% lower than Bitcoin the last couple days? I'm sorry, but this is the first of the 127 new altcoins that I gambled on and lost. If you are a talented programmer/developer I urge you to focus your time on more important projects.
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I moved 50% of my assets/trading over the CampBX after the Dwolla bullshit. Loving it so far.
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Protip: You don't want to be the last person holding dollars.
I'm ok holding any currency as long as the chemical energy stored in it is higher than value I aquired it at What currency do you use that has chemical energy?
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Their Facebook page claims they've already reached 40% of their pre-order quota, and delivery is on the 15th July (little under two months). So more BS, or there are some very foolish people that read Tech Crunch! They have no prototype, just rendered drawings. https://www.facebook.com/CryoniksTechcrunch is pretty sad, maybe they got paid off. Heh facebook page, 17 likes but they've got 40% of a pre-order batch for $15,000 units, right. Some more technical gold from these fellows: "You're very welcome! We find that the average North-American home is already pre-equipped to handle the power requirements of our units. For reference, we find that the average clothes-iron consumes roughly 1200-1400W when heating. A standard U.S 3-pronged outlet is sufficient to handle the working loads typical of our units. Hope that helps!" Ok, so most North American homes have multiple outlets running off a single 15-20A 120V breaker. 20A*120V = 2400W, so an entire dedicated 20A circuit isn't enough for a single one of these miners, but they've somehow managed to find the "average" home is equipped to handle it somehow? I suppose if maybe you ripped out your oven, and wired up a hookup for this miner, but that might be something to inform potential customers about. Great scientific research, references a clothes-iron as backup. I hate to give any credit to this 100% obvious scam at all, but... You can go over 20A/2400W on a common 20A circuit breaker for a "little while". It's all heat based. You can peak over the rated amount a few times, or stay over the rated amount for a few minutes, but eventually it will trip. Source: personal experience big LAN parties and indoor "tomato" growing with big lights.
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Probably the dumbest thing I've ever seen. lol So if there is ever another technology better than bitcoin, then what? Not implying but may as well some people get fiat signs on their boobs or private parts lol. "Show me the money". Jesse James' tattoos:
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