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I registered to their miling list but I did not receive that - WTF?
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And 35.000.000 difficulty in August? Keep dreaming. It will be more like 60.000.000.
Plus, we can bet that you won't be able to have all the chips online by August. More by September/October.
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People who were here for earlier prices of buying 1000 bitcoins for 10 bucks got lucky , thats well and fine.
How about us? I have 35 mhash/s and lets say I dont want to buy. From the obvious choice of minning (which makes me about nothing , barely over the transaction fee) I can go for 'free bitcoin' websites or faucets and I can offer services . Thats about all I can think of. If I am missing anything please fill in.
When I started with BTC people where saying the same about <$2 coins. $10 seemed VERY EXPENSIVE, because only a few months before BTC was below $1. So, cheap or expensive, lucky or unlucky, depends on how you see it and what you compare to. |
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The crash/correction was trigger by some gradual downward selling that caused severe lag that in turn caused panic/lag selling. By the time we'd fallen from 266 to 220, there was like 40 minutes of lag and two or so hours had passed since the downward pressure began. While watching live I saw thousands upon thousands of sell orders go through. It wasn't a single 69k order from above 200 that sent us down, it would have taken us down instantly, not gradually over three hours as you can see in the chart below. There is no 69k single order of coins sold on this chart: http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2013-04-10zeg2013-04-11ztgSzm1g10zm2g25zvI saw that dump, and I can guarantee I was not the only one |
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As a funny note, there was a few users who spread the rumor that the one dumping the 69K that triggered the crash was Silk Road (for example, see: https://bitcointalk.org/index.php?topic=85687.msg1804571#msg1804571) The dump was real, the one who did it's unknown (at least I have seen no proof other than rumors and different posts). And of course a dump triggered the crash - it always start like that. The BTC is so ridiculously illiquid that a tiny dump of +10.000 BTC would trigger a panic selling and a huge crash. Heck, a 200K BTC dump would take us to low single digits! That gives you the idea of how easy would be for a BTC enemy with not-so-deep pockets to destabilize BTC. And now imagine that an old miner decides to dump +500K BTC coins because it's time to be rich, and he doesn't give a fuck  |
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Of course there is a verifiable fact. Just check the "trade history" on bitcoincharts or similar, or follow the "time & sales" on http://bitcoin.clarkmoody.com/. I'm sorry but I can't find this on bitcoincharts or clarkmoody. Could you give me more details how to find this transaction? A link would be greatly appreciated. Sorry, I see the trades in real time, I don't know where to find an historic that goes till April, 10th (but I'm sure it exists - somebody knows where to find it?) I can guarantee you that I was actively trading and watching the trades at that moment, and the first of the many dumps we had during the crash was a very big 69K BTC sale (I'm sure other fellow readers will confirm this point) |
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... but a single "market order" dump of 69K coins triggered the crash.
How do you know the crash was caused by someone dumping 69k coins at market? Is this a verifiable fact or speculation on your part? If speculation, why do you believe someone did this? I don't understand who in their right mind would do such thing? I mean it's a very poor way to sell a position so large, right? Since you will get serious slippage? Of course there is a verifiable fact. Just check the "trade history" on bitcoincharts or similar, or follow the "time & sales" on http://bitcoin.clarkmoody.com/. I was trading when that happened, in fact I was very happy because of the unbelievable buying opportunity until Gox fucked up and halted trading to induce "market cooldown". You can check the forums and you will see I was the first one to post about this "market cooldown"  I had to wake up at 4AM to be ready when Gox reopened, just to see how my big buy order at 35€ was not fulfilled for just a couple of euros (bottom in € was 37€). That really pissed me off, I think I should trade in USD, as it's much easier to spot support and resistance points. |
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No me he leído a fondo todos los mensajes de este hilo pero si que me he leído el de burnin y hay que ir al loro con el proyecto.
No hay prototipo en funcionamiento todavía, descartando que el tal burnin quiera quedarse con esta jugada todos los chips cabe la posibilidad de que no sea capaz de desarrollar un circuito para controlar los asics.
Es un riesgo muy considerable cuando existe la opción de fabricar un modulo de avalon de 80 chips o incluso un sub-modulo de avalon de 10 chips sabiendo que funciona a la perfección.
Exacto, es lo que trataba de explicar. Lo de ponerse a "reinventar la rueda" es hiper-arriesgado en este tipo de proyecto, en el que los tiempos son fundamentales. Si fuera replicar los diseños de Avalon tal cual, OK - aún así habría que ver cuándo y cómo llega la documentación. Pero esas pajas mentales que se están haciendo sobre módulos diseñados por ellos, unidas a la cantidad ingente de peticiones que están recibiendo por todos los que han comprado 50, 100, 200 chips... Me hacen dudar muy mucho de la viabilidad de su proyecto. Además el tipo dice poder dar salida a 500 módulos de 10 chips a la semana, yo creo que no se lo cree ni él, ya que aún ni tiene prototipo ni nada de nada. Personalmente, lo evitaría como la peste. Mucho peligro, si no de que se quede con todos los chips, de que se vea sobrepasado por el proyecto y entregue las unidades en tiempos bíblicos. |
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some dumps are needed for that, it's still about same number of coins needed for 145 and 165
I will say it again: those numbers on the bid and ask size means nothing. Bids and ask walls vanish as soon as the price moves, the book order changes dynamically and means NOTHING. Just check the book order just before the crash, you will see that there was a HUGE buying pressure, but a single "market order" dump of 69K coins triggered the crash. Making a long story short: if you believe in "how many coins are need for X price" you are doing a BIG mistake and you don't understand how trading works. |
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http://www.dailydot.com/business/paypal-president-bitcoin-accepted-exchange/a ceo of such a company can not walk around and talk bullshit. if they say they considering it, they most likely are considering it. this message of the ceo is not aimed at the crazy bastards on a bitcoin hobby speculation forum. it is aimed towards their competition. it says: if you pick up this new tool, WE WILL ALSO. You are not thinking clearly. BTC would add nothing to Paypal, BTC is an enemy for Paypal. They are looking into crypto, but they won't embrace BTC. |
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It's back up to $158 but of course it went down to $50 so anyone smart enough to sell and buy back woud have 3x as many btc and 3x as much wealth if you timed it right.
I think that's a little bit of strategy + a little bit of luck. But honestly, nothing to do with "smartness". |
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Saying that Paypal will embrace BTC is like saying that one day the president of the US will be an anarchist.
Mmmm... Yeah.... A contradiction in terms. What Paypal MAY do is to create THEIR OWN, CENTRALIZED cryptocurrency. Quote this for truth, and stop dreaming.
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I don't see how PayPal could add Bitcoin as an "option"...or whatever without decimating their business.
PayPal charges fees on transactions. Bitcoin charges almost no fees.
PayPal has employees to pay and bills. Bitcoin doesn't.
It is almost like a suicide mission.
Maybe I am missing something here.
THIS. There's no way Paypal adds Bitcoin. Think carefully about it. Bitcoin and Paypal are enemies, there's no synergy possible, full stop. Don't forget the main points of Bitcoin, and now I will quote the wiki: Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.
Bitcoins are sent easily through the Internet, without needing to trust any third party.
Transactions are irreversible by design
And now, please answer: what's Paypal business model? what's his role and what "problem" they solve? what strategic sense could have for them to add BTC? |
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The $160 wall got eaten a few hours ago, no one cares, price is idling around $157-$158.
I'm seriously wondering who is buying these days.
With google and paypal looking to get in... Very small volume. Very tricky moment to buy in (unless you are in it for the long haul, obviously). Paypal news were great, but the masses only understand one thing: price is going UP UP UP, price broke ATH, etc. When you have those headlines is when everybody jumps on the train. We had a very recent bubble burst, so I won't be surprised by a mid-term scenario in which prices slowly decline or just stay stable (which in BTC means 50% to 80% swings, big rallyes and subsequent big crashes, but no more parabolic growth) |
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Si no me equivoco cada aparato es de 10 chips, o dependiendo de lo que pidas te lo fabrica?
Son de 10 chips. Ahora está sopesando la idea de montarlos de 20, que vendría genial porque esos tendrían un coste estimado de 100€ y el ahorro es bastante majete. Si lo confirma prontito, me cojo algunos chips más. Lo que no me queda claro es el tema del pago por montaje (que en este supongo que van los gastos en hardware aparte de los chips y lo que cobre por hacer su trabajo el caballero) y el envio.
Esto está en el aire. burnin no acepta pedidos todavía así que no te puedo aclarar más. Pero en fin, no creo que vaya a haber nada nuevo: en algún momento se establecerá un precio expresado en BTC (no en euros) y a partir de ahí lo de siempre, o te da una dirección para ti o publica una dirección para todo el mundo. Uno paga, le dice dónde enviar los cacharros montados y se sienta a esperar (y a rezar para que la dificultad no suba más de la cuenta). Me da bastante miedo el tema de burnin. Crear mineros a partir de los chips no es un curro trivial, es un proceso lento, hay que testearlo todo durante días... Tengo la impresión de que puede verse desbordado por el trabajo. También veo que muchos de los que han encargado chips para burnin viven "en los mundos de yuppie", es decir, preveen estar minando ya en Julio/Agosto. Ni en sus mejores sueños: Avalon ya ha demostrado que se toma su tiempo, y si dice 9/10 semanas desde el pedido de los chips en el mejor de los casos serán 12/15. A eso añádale el tiempo que le llevará a Zefir ir enviando los chips a cada uno de los que pidió, tanto particulares como desarrolladores: y luego empieza el curro duro, los testeos, etc. etc. etc. No quiero ser un aguafiestas, pero yo no contaría con recibir los mineros antes de Octubre de este año - y eso ya me parece optimista. |
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More like PayPal will introduce PayCoin, their own brand on top of the Bitcoin system. After they leverage the entire Bitcoin network for free, they will charge both sellers and buyers fees to send PayCoins through it's "secure" network. Since PayPal is already ubiquitous in NA and is required for sites like eBay, everyone will adopt PayCoin and not even know what a "Bitcoin" is. Then they will freeze your PayCoin balance any time you make a transaction they consider "too large". They will reverse payments to sellers because the item "didn't work" or "never arrived" even though you have delivery confirmation. You won't be allowed to use PayCoins to purchase any digital goods either, of course.
Sounds amazing.
Doesnt make any sense for paypal to use bitcoin in the way you describe. They already have their own coin and network. The main difference is their coin is pegged to local currencies, but they can still transfer that money instantly and basically for free from anywhere to anywhere they want. For paypal, bitcoin doesnt add anything in that sense. The only thing paypal can do that does make sense, is accept bitcoins as deposit and convert them to a paypal dollar/euro balance. And perhaps offer a bitcoin wallet service, so you can store bitcoins like you store dollars and euros in your paypal account. Both of those would help rather than hurt bitcoin; regardless if you choose to use it. I really don't get how Paypal can "integrate" Bitcoin in a way that has a strategic sense for them. Bitcoin is a natural enemy for Paypal, as it's designed to be decentralized (you don't need to trust a third party, so no need to Paypal). |
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According to the mtgox walls, 23 Million USD takes us to a BTC valuation over $1000. Not a lot of money in the whole scheme of things.
You should know that means nothing. FACT: according to the order book, someone willing to cash out just 18 Million USD takes us to a BTC valuation in the low single digits. Not a lot of money in the whole scheme of things. Imagine satoshi decides to cash out the 1M BTC he has, because is time for him to retire. Yes, you know what would happen: BTC would suddenly go to 0. And that will happen, sooner or later, because nobody can wait to be rich forever. Just pray that the market depth will be 10,000 times bigger than now, so we just go to low double digits when he decides to sell, and not straight to 0. If he is smart enough to invent bitcoins, he is smart enough to sell responsibly. I believe. Well, I would be more confortable if he would have moved some coins, gradually. He never moved A SINGLE COIN according to the blockchain. Not even at the peak of 2011 bubble, not even at $200 BTC/USD. Frankly, people sees this as "this guy really believes in BTC potential!", but sometimes that just makes me doubt of his sanity. If he never moved a single coin in all his life, he is very well capable of dumping them suddenly. That's how I see it, and many times I think that he will destroy what he created in that way. And remember that nobody can wait forever to be filthy rich. Hope it's just a nightmare tough What are his addresses for you to make such affirmations? since the april 11 crash,there's a regular 3-5k sell order practically everyday,i would believe its satoshi.. Well, you know blockchain is public. There have been many studies about the coins mined early, for which a huge part never moved (more than 60%). The coins never moved where mined in 2009 and 2010, and from pattern analysis looks they are all Satoshi's. Just check one of the many analysis that support this theory: https://bitslog.wordpress.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/ |
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According to the mtgox walls, 23 Million USD takes us to a BTC valuation over $1000. Not a lot of money in the whole scheme of things.
You should know that means nothing. FACT: according to the order book, someone willing to cash out just 18 Million USD takes us to a BTC valuation in the low single digits. Not a lot of money in the whole scheme of things. Imagine satoshi decides to cash out the 1M BTC he has, because is time for him to retire. Yes, you know what would happen: BTC would suddenly go to 0. And that will happen, sooner or later, because nobody can wait to be rich forever. Just pray that the market depth will be 10,000 times bigger than now, so we just go to low double digits when he decides to sell, and not straight to 0. He's already rich. When he needs fiat for something, he can sell some BTC. If what he wants can be paid for with BTC, he doesn't need to sell them at all. Talk of cashing out is, once again, just a failure of the imagination. He never moved a single coin. Not entirely true, he did some test transfer to Hal Finney, but that's it. He/they may be dead, or he/they may be planning to dump his/their stash at once. If not, why Satoshi did not sell coins till now? Why Satoshi did not buy anything with bitcoins? Is all in the blockchain. His coins never moved apart from some well documented transactions to early cooperators. |
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