well, this auction didnt go well like the last time when we had that inpatient noob outbidding all other players.
less bidders this time, coins distributed evenly...I find that bearish.
Alternatively, most bidders bid high this time, and the lowballers didn't bother bidding, having learned their lesson from the last auction. We don't know who won what at what price, and most likely we won't unless the winners are publicly traded companies and the buys show up in their quarterly reports. USMS isn't telling. |
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"Dollar averaging" is not a rational thing to do, it is only a psychological pacifier, right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
AFAIK it's a common strategy for long-term investors. By spreading out your buys you reduce your risk of buying at a local high but also reduce your chances to buy in on the cheap. |
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The poll says most respondents think the price will be over 400 USD tomorrow. Shouldn't those respondents be buying with all they've got, then?
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Ah, I wish I could automatically filter out every posts which has the "ignore" word in the text. But then I would practically ignore this post of mine as well which could be interpreted like I am schizophrenic.  (I never use the ignore feature on real persons, no matter what. I believe it's there to mute bots which is sometimes handy on some forums but not here.) I don't see much difference between the output of a bot and that of most people I have ignored. The variance in content is close to 0, even if the delivery sometimes varies. |
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Sometimes I'm almost tempted to see what LambChop is saying, but then I think nahhh
Posted by: NotLambchop
This user is currently ignored.
This  But problem is that others are quoting him... That's nothing a couple more presses of the ignore button won't cure... |
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so....
how's the trend reversal working out for you guys?
up 13%, or about 0.48% per day since the 320 low. So far, so good. |
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That's pretty damn contrived. what you mean? the article or the auction? The article. |
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That's pretty damn contrived. |
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My ignore list is up to 137 accounts now - growing rather slower than this thread, but perhaps more steadily. I do suspect the growth rates are correllated, though.
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So... any interest in an actual not-joking wall observer thread without all the crap, or is the situation unsalvageable?
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Should we shift the decimal point yet?
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If we go up from here again, everyone will of course remember how the last spike ended in a correction, and not just blindly panic buy. Any rally from now on will therefore be reasonable and moderate.
Right?
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Care to elaborate a little? Which thread? What attack is employed?
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Units of accounting in the unspent transaction outputs in the longest branch of the Satoshi20090103 blockchain (aka "bitcoins") are indeed scarce, as long as Gavin and the miners refrain from changing the protocol; but there is a potentially infinite number of blockchains with the same properties.
If, at some time in the future, a better altcoin comes along (say, with a 0.1 second mean confirmation time, or a distributed trustless way to seize and return stolen bitcoins), and takes over the bitcoin "market", there will be no central bank to swap old bitcoins for new ones at a fixed rate. Some owners of old bitcoins may be able to sell them to suckers in exchange for new ones, before they become worthless; but many will inevitably lose the money that they invested in BTC.
Bitcoin mining is currently financed by an "inflation tax" of 5-10% per year. At some point, that inflation will stop and the miners will start to require transaction fees. No one knows how much those fees will be, but mining is already an oligopoly market so a cartel of 2-3 mining companies can set the fees to whatever gives them maximum net revenue. By the way, those fees will apply to every transaction, including hotwallet-coldwallet moves, BTC deposits and withdrawals, etc..
There are no blockchains with the same properties: The property of block history will be different. A large part of why Bitcoin must be considered experimental and dangerously volatile now, and for a long time to come, is that the trust model it proposes relies on building a history of flawless operation. No technical innovation can create this out of thin air, the only way to build it is by letting the system run and see what happens. The longer Bitcoin keeps working without being overtaken by an altcoin or succumbing to some flaw, technical or political, the greater its perceived reliability becomes. There are a number of questions the Bitcoin system is seeking to answer right now, like what economical effect will the distribution model chosen end up having. One such question is: How much security does first-mover advantage provide in the crypto space? The only way to really find out is to wait, potentially forever. In the meantime, people act on their expectations. |
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So where's Adam, anyway? This thread is mostly a long list of "this user is currently ignored" for me, these days...
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I think it is time to open long position again  There is not much coins to 410$, easy money. Have you seen what happens when we cross 400? Immediate dumping. Be careful, at least until Sunday night. It seems as if someone is trying to keep the price under 400, maybe until their fiat arrives at the exchanges. I would personally wait until we start moving up on high volume Sunday as to not get caught in another trap. I'd hardly call it dumping. The market was ridiculously overextended and even at these levels the price has risen exceptionally since two weeks ago. Did you really expect BTC to just keep gaining several percent a day? |
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WOW, my leveraged long seems to be gotten margin called at 382??? (we hit 381.998 but it wasn't supposed to be margin called till 358)
It said it would get margin called at 358?? What the fuck has happend??
Was your collateral BTC? If yes, perhaps the margin call price is calculated using the USD value of your collateral at any time - as the market moves against your long, your collateral loses value and the margin call limit goes up. Maybe? |
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I don't know what holds the price between 398-410 today, is it the chinese market? How can one know that?
If thats the case, then there might be some decentralization, but not by real banks, but by individuals or organisations.
Anyone care to explain? Well, see, it's a matter of supply and demand... |
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