Transactions are carried out in a decentralised way (the main idea behind the original satoshi paper, that you don't need a trusted third party), only the distribution of XRP the currency is centralised.

Try again.


Can we please stop talking about ripple? If you think I'm saying with certainty that ripple is the future and BTC will die, you either didn't read my posts or you didn't understand what I said.

The Blockchain solution to decentralisation is a broken one, and BTC is not viable as a currency long term (for the reasons posted many times before and that I listed few days ago).
At the same time, it cannot e replaced by a shitcoin that, behind the gimmicky features (being anonymous, slightly faster transaction times,  etc), shares the same fundamental issues.

It will be replaced by something that works in very different ways to avoid the BTC and Blockchain fuck ups.
For one, it will need to be a decentralised network that allows any existing currency or anything else of VALUE (that cannot be double spent) to be "put in the network" easily and in a frictionless way.

Similar protocols exist today (like Ripple), if they won't be the future specifically, something else that works in very similar ways, will.


And I know that you don't wanna hear stuff like this because you wanna get rich quick with the pyramid scheme aspect of Bitcoin... At least don't lie to yourself.

Perhaps blockchain.info (if people still trusts them) can create new addresses for the affected users, post the old-new map, and the "good samaritan" can then transfer the amounts there.

Hello,

there were a large bunch of new broken addresses today (several 100s in one day).  I took the liberty of saving some funds before they got swiped by others.  If you can convince me that they belong to you (signing a message with the address is obviously not enough; the private key is already known),  I will send the funds back.

Look into the file http://johoe.mooo.com/bitcoin/broken.txt, to see whether your address was broken.

Maybe because we've been going down for a year and i'm tired of it?
Every single rally gets almost instantly stopped with dumps and walls. Every single one of them.
The buying will stop one day. It really will. One day everyone will be like fuck this thing and move on.
Traders don't seem to understand this or simply don't care.

Any idea what this is?

I don't care much about anti-government agendas and other expressions of teenage rebellion. I care about finding a practical financial tool, that can be used to develop both the finance and the economy. Bitcoin was the first to show that open-sourced monetary systems can be done, and I am thankful for that. But sadly, bitcoin the currency just isn't advanced enough to be used as a practical tool. The blockchain technology can be used as a practical tool to implement into new and better currencies, and the idea of bitcoin can be used as an source of inspiration for new cryptographic innovations.

Bitcoin the currency itself, is just a slot machine, that is shrouded with virtuous looking illusions. People with gambling problems can create a narrative to their spouses, that they are in fact "investors in an highly innovative technological project". That's the intriguing narrative that gets the permission to use the family's life savings on this "new and world changing project". The sad thing is, that if they can't see how it's really just a slot machine, then they can't also see that the machine is rigged to create profit for the house - the biggest holders of coin, and the people who run the unregulated exchanges. They have the power to raise or lower the price as they see fit, while having private information about their customers trading methods and habits.
A practical currency should be unattractive for speculative play, so gamblers who cause instability would stay away. A practical currency should be attractive to merchants, and without the need of middlemen like BitPay who take profit for offering stability. The technology can be used to make money efficient  and cheap (the cost of maintaining the monetary system). Bitcoin the currency is far from realizing the potential, and as long as the core devs aren't considering changing PoW mining and fixed coin supply, then I just can't see a way for that to change.

But it does offset a lot of the buying pressure from coinbase.

They rarely dump coins on exchanges.
Most of their coins are directly sold to Coinbase users.

It's the same for me and I end up being an ass.

As much doom and gloom as I spout, it's as bad for me as it is every other hodler. I just try to be realistic and share my expectations.

As for taking a break, I should probably do the same. 

Because it's true. Inflation is very high. Demand is not. Do you think these people won't sell if they fear lower prices are coming? Do you think they don't sell when the price goes up?

Long term trends are more likely a simple function of supply and demand.  I think it would be prohibitively expensive to try to push it consistently up or down for a long period of time.

3600 Coins are mined each day.  @ $350 a coin that's $1,260,000 each day that needs to come in to the market just to maintain the current price.
If one wants to profit from manipulating the market it does not require long term sustained manipulation up or down.  You can make plenty off short bursts up and down if you know in advance which way it will go requiring a lot less capital.

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Kinda - I more mean that someone needs a lot of cash quick - for taxes or whatever - but the market is strong and eating the wall without a huge backlash. Once the wall is gone we'll be back into the 400's with the demand we are seeing. Not sure about the loan idea - maybe that would be smarter? He's selling at a bunch of losses to cover his gains to make an even balance sheet. Report the losses. Rebuy coins. Profit.

It's panic and for a good reason.

When we were at $680-$500-$400 (and even more of course months ago) etc anyone just dumping his stash into the bids would have done a perfectly sound move.
If BTC goes to $150-200 (or even lower) for example dumping now is a decent move still.

Also, merchants who accept BTC just market dump on exchanges through BitPay (read their terms in their site), the sell pressure can't get any more direct than this.