In the UK the National Lottery has a built-in feature to facilitate this called 'Syndicates' whereby families, work colleagues, sports teams etc. pool their resources to play and split the proceeds. 'The house' i.e. the amount not going out in prizes in the case of the the UK 'Lotto' is 50% (the other 50% being split as: 28% 'good causes', 12% tax, 5% retaiers, 5% lotto operator) and people accept they have a higher chance of being run over by a bus than to win the big prizes but people still have fun with it. So why not with SD? With the idea as proposed, i.e. a random pool of people who don't know one another I can see less of an attraction than if it's a gang of people who know one another and have something in common but really as far as I (as an SD stockholder) is concerned, anything that makes the game more fun and more attractive for people to have a go at is a good thing - even if our 'house edge' is miniscule in comparison.  |
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Why would you want to shoot it down? You are correct in your assessment of its long-term outcome should they keep playing that long of course but the kind of people who think of it that carefully and understand it that well only play occasionally for fun if at all anyway. I'll give another reply over there.
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Gotta thank you for this. Caught some of it real time but a day like this is astounding to watch play out again speeded up. Just sitting there going WTF!!!! |
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Wow, since big whale 1 went away that 1.9% edge line has to be the steadiest and least volatile line on any chart that has anything to do with Bitcoin!
As long as it remains even a tiny bit up week on week I'm happy with the price I paid for my stock even if others are now able to buy rights to the same dividends as me for much less.
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$180 USD/BTC and $2 bn USD 'market cap'!!!
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I recognise it was a big shift then - especially given growth was slow but steady around that time. But even in percentage terms it's a big difference between 20% in 6 days to 13.5% in one day - and in terms of the increase in the value of anyone's holding who was pleased that it got to £12 we have just in a single day seen that much again added to the value of our Bitcoin holding. My flabb is ghasted!
It all depends on the particular 12 hours you choose post-fact. In 1 day it's up 15%. It's still true that at the time, it was a jump when things were steady and right now it's just mercilessly following a double-exponential. I sure wish things calmed down a bit because it cannot end well following this curve for too long. But in the other hand I'm loving it. This is why it's a good idea to always look at the price with a log y axis - it's like an axis rescale to show percentage changes rather than linear changes. It makes the changes easier to eyeball. Absolutely agreed with you both on looking at percentages/log scale y when it comes to making realistic comparisons and rational judgments. It was just a harmless expression of astoundedness from seeing in such a tiny time span my holding go up by the value of the whole of my holding when it was at £12 - and it looks like it's happening again as we speak! |
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Well that $179 wall isn't too big and the $180 one is going to probably fall soon. From there it's like, 10K coins to $200, scary!
$179 down! ATH
What was the figure for 2bn 'market cap' again? $18x wasn't it? |
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 sorry I missed the last one! |
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...and again...  |
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Anyone know if MtGox has changed over to the new software? It seems to be coping remarkably well at the moment considering the number of trades. 22s is nothing!
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BTC China leading the way again. Just hitting $177.00
Sorry I am beginner.. why china? What do you mean? btcchina.com, the main Chinese exchange has quite a lot of late been trading the Chinese yuan of a value greater than the equivalent in USD. The pattern seems to be that MtGoxUSD follows in due course. Arbitrage, which would ideally balance these differences up quickly is not that efficient in the BTC/fiat world. The difficulty in moving fiat currencies between exchanges which causes the various exchanges to get quite significantly out of synch at times is even more exacerbated with btcchina due to the limitations of getting money in and out of China. Hope that helps. |
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if you dont understand the significance of tuesdays then you obviously havent been around for to long
tuesdays have always, yes i just said always in the trading world, been action days
Tuesday is coming!!!
Sure, I get that - I was enjoying the fantasy of my narrative and in making a rare exception of putting a prediction up here on record, interested in seeing how it turns out. My guess is where the Bids and Asks are right now may be a bigger indicator of what's forthcoming than the price and its movement today. In that case tomorrow and Tuesday are likely to be more like Thursday and Friday last week than Mon/Tue last week. It is the speculation subforum after all Edit: and yes, I did catch the Tuesday is coming ref although I didn't till the other thread where you explained it |
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[....] My flabb is ghasted!
I'm fairly certain that it's your flabber that is gasted. No one wants to think about your flabb being ghasted.   Granted. Cheers gents |
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I noticed some were saying earlier they weren't taking the price rise today very seriously due to 'low volumes'. In case anyone is still under the impression this was a low volume day it turned out to be the 7th highest volume day ever at $9,401,468.33 USD - and almost on par with the highest volume weekend day ever on March 23rd.  Also of interest to me this evening is that the bid/ask sum ratio is despite today's level of trading close to the highest it's been at around 275. It is not surprising that the bid sum has gone down given that there has been no fresh money in since Friday but that the Ask sum has gotten so low is intriguing. Last time this happened last Wednesday it turned out to be the bears deciding to get out of the way of the charging bulls to hide in the bushes and ambush them once the order book on the ask side was healthy enough for them to take good profits. I have a sneaky suspicion the opening of the bank in the morning will provide them with that liquidity and they'll jump out from the side and cause some mayhem All temporary of course and beneficial in giving these poor souls who have been waiting desperately to be verified the opportunity to get in prior to the next bull run which I'll venture to guess will be either when the US wakes tomorrow (having missed the mayhem) or Tuesday when the next lump of fiat hits the exchange.  |
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1 BTC ~=£100 £100   This is hilarious Even funnier when looking at my celebration above when it went up by another £2 in only 6 days to £12 whereas today it went up £12 in just over 12 hours! Quite astounding really and though I'd be less surprised to see a significant downturn than back then I'm just as if not more confident in Bitcoin's future. If bitcoin is to be distributed enough for it to be common for someone to pay for their coffee or pizza when we happen to have come out without change (maybe in many places that don't offer car payments - or do so but only with a 50p charge) the price needs to go up by an enormous amount more - especially if a high proportion of it is for a long while going to be held onto by speculators and savers. Well, 2GBP meant a 20% increase then. I recognise it was a big shift then - especially given growth was slow but steady around that time. But even in percentage terms it's a big difference between 20% in 6 days to 13.5% in one day - and in terms of the increase in the value of anyone's holding who was pleased that it got to £12 we have just in a single day seen that much again added to the value of our Bitcoin holding. My flabb is ghasted! |
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