Meanwhile, in the good 'ol US of A…. FinCEN sending notices to businesses that they should err on the side of caution lest they be seen as criminals. Basically, if you want to start an exchange in the US, you better register with FinCEN and get your money transmitter license in all 50 states and pay for your surety bond in each state (very expensive). FinCEN is doing their job as the enforcement arm of the Manhattan financial crime mafia. Wall Street wants in on Bitcoin trading, but on their terms and without needing to compete against more honest platforms run by outsiders. Professional traders talk about how the lack of leverage and other traditional trading features as contributing to volatility. That code for, "we hate needing to ask permission to sell other people's bitcoins for them". They want to be able to rehypothecate customer deposits, and especially want to be able to short naked. The purpose of all this FinCEN enforcement activity is to herd bitcoin users into forthcoming platforms where you'll be dealing with "paper BTC" that's just like "paper gold" - no way to prove that you actually own what the balance in your account implies that you own. while I agree with the sentiment, you give banksters too much credit. They hire quants to do that and the quants all love Bitcoin. Wall street bankers wouldn't know what to do with a bitcoin in a whorehouse. |
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I think the answer is colored coin. In the original thread I proposed a layer over Bitcoin such as Stratum. Colored coin should be able to support APIs like bitcoinaverage.com that statistically analyze various exchanges. It's only a temporary solution, but will offer some emotional support for those not able to do the rolling average forecasting themselves.
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Hear hear! Except for the last part, that can't happen.
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sell everything go in debt as far as you can go buy as many coins as you can,,, Then go to a crazy house saying you are a Trillionaire and you own the planet, just keep repeating until they drug you to a coma for 4 years. After its 100mil a coin have someone tell you the new price and stand up and say see i told you I owned the planet! Check yourself out!
Never fake a mental disorder because you are never faking it. The act of faking a mental disorder is a symptom of a mental disorder. (psychopathy) Here is a ted talk on a criminal who got stuck in a mental asylum. http://www.youtube.com/watch?v=xYemnKEKx0cor this could happen: http://www.youtube.com/watch?v=PSWxlaYKoMw |
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Where can I have my balls bronzed?
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They don't seem to be playing anything diabolical. They just seem like two regular egotistical overachieving privileged dudes that want to become tycoon billionaires.  |
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There will be blowback. The news about the crash being caused by China will be bigger than the Chinese rally a month ago.
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Hit the zoom out button on the graph.
Just don't tell anyone how far to zoom out.  |
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Ohh no beast you are a hero super member and speaking the truth, commence you are discraceful comments in 3 2 1
The only response I ever get is "But the base will grow and margin orders will level off the volatility." Those arguments don't address my concern that a currency needs to have some psychological element built in like fiat does. |
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What a coincidence. I used Bitcoin to have my balls bronzed.
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Since my thread https://bitcointalk.org/index.php?topic=189062.0 has been moved to economics, I will put this in terms of Bitcoin's functionality flaw. I have talked about this for years. Currency is a psychological phenomenon. There is no psychological functionality built into the Bitcoin protocol. by cbeast November 22, 2011, 12:30:04 PM It's a psychological thing. Having a price set by mathematics gives people a sense of stability. It's like why people don't wildly speculate on fiat money. Math can give bitcoin the sense of fiat (law), only it's the laws of mathematics. Of course there will be fluctuation just as there is with all fiat currencies, but it will be mitigated. This whole Bitcoin phenomena is an experiment, I just think this may be a helpful tool. I just don't trust centralized exchanges because HSTs and bots can have such profound psychological effects on people that cause them to panic buy and sell. |
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Unless I'm mistaken, if the price drops enough that it makes it untenable to mine, then miners will pull the plug. The difficulty won't drop until the 2000 blocks are found. If mining slows, then that could take a long time at the higher difficulty. It could take a long time for transactions to confirm. This may be an unintended attack on the Bitcoin network.
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Yep. China says they don't fear American aircraft carriers, but they do fear Bitcoin. America has a weapon if they choose to use it.
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All these anti-Chinese epithets are baseless in the face of their capitulation in the Bitcoin market. There is no moral defect in their culture, there is merely a totalitarian regime that crushes the will of anyone in China that wants any type of freedom, that's all.
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PoS coins are and always will be of limited use. They are best served as local currency issued by a sovereign. They are more useful if they can be merge-mined and exchanged with Bitcoin. As a general use global payment system and reserve currency, Bitcoin's PoW is more trustworthy as there is no real danger of reversing a transaction. As a local currency, transaction reversal may be desirable if it is only possible by the authorities.
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There are a lot of subtle to not so subtle racist undertones in this thread. It feels a little un-necessary in a forum that's dedicated to discussing a form of currency not race relations. Maybe tone it down a little?
There is a button to the left that is useful in situations such as this. |
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South Korea followed Chinese... No bitcoin in Asia
That leaves North Korea. Kim Jong-un will be the richest man in East Asia. |
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didnt watch it but the topic sounds okay, great.  My thoughts exactly. |
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