Why am I getting malware warning when I visit primecoin.org?  |
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Cross posting this from reddit, sorry if its already been posted somewhere but I couldn't find it here in the press section. Interview with Richard Brown, an IBM executive architect for banking and financial markets. http://www.youtube.com/watch?v=VDO7TDMlxsY |
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I no longer fap because of bitcoin
I now only fap to bitcoin. lmao! |
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If you're storing lots of coins long term, paper wallets with digital backups. Armory is also good, I bough an old laptop for about £50 to run armory on. I haven't had any problems with QT but I wouldn't consider it safe storage - just convenient.
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That is neat. Only problem is, I was going to purchase $1000 worth of them back at 1.6 but got into it with my wife about it, so didn't.
I know women are always right... but.....
Don't say a word. Print out the price chart and hang it on the refrigerator. Genius.  |
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considering this rally is being led by solely by the chinese, i would call it a bubble
You sir, are racist!  |
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I think we will test the ATH very soon. I hope we do get a bit of a sell off, and move back down and consolidate for a while (but staying above $200). Build a nice base just below $266 and let the pressure build for a while before we finally bust through, then just let it fly!
yah yah we all heard the same crap..... wish it dips so i can buy it lower then FLY!!! Problem is everyone wishes the same thing so dips can never happen! I don't have any money to buy more so it doesn't really matter to me if it dips. I just think we'll get a better rally if it at least consolidates for a while before we break $266. |
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I think we'll probably blow right by it, since this rally seems to be driven by the chinese, and $266 has no significance for them.
The Chinese may still be looking at price history in USD in order to try and predict price movement. And the ATH will be the same for them, i.e. whatever the equivalent of $266 is in renminbi. |
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@Micon Exactly the sort of thing I was hoping for That was awesome. |
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I think we will test the ATH very soon. I hope we do get a bit of a sell off, and move back down and consolidate for a while (but staying above $200). Build a nice base just below $266 and let the pressure build for a while before we finally bust through, then just let it fly!
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Very nice. Simple and to the point, a great introduction without getting too technical (I think some people seem to get confused if you introduce the concept of mining straight away, best let them discover more if they're interested after the initial introduction)
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Thought this could make for some interesting discussion  Will there come a day when Satoshi returns? When will it be? Where will Bitcoin be by then? How will it play out? Looking forward to some creative responses/conspiracy theories/jokes/memes/whatever else you crazy people can come up with. |
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For small transactions you probably don't need to wait. Double spend attacks are generally difficult and costly to attempt, and therefore only worthwhile for large transaction amounts. The chances of losing out to a double spend on a small transaction are probably close to zero, and if its a small amount then its probably worth risking it for convenience because if you do lose out, its not very much money.
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@rpietila:
This is an interesting thread, and I think you've done a great job with it. I have been wondering about the effect that 'strong hands' have on the price, and thought that maybe some of the results here could be used to try to make an estimation.
Many people here on the forums probably follow the 'buy and hold' strategy, at least to some extent. I have some BTC in cold storage which I'll be holding 'for the longest time', and I trade with the rest to try to increase my holdings (as well as to make a bit of extra spending money). This removes coins from circulation, leaving less BTC to be chased by the same money.
I wonder therefore, what the total amount of BTC actually in circulation might be? Could we estimate how many BTC are in cold storage, and unlikely to be sold in a panic when price drops X% over the weekend?
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And btw $220 is still very cheap for bitcoin and it still has enormous potential of growth if some mayor companies will start using it. Stop complaining people.
+1 Want cheap BTC? Buy some now then. |
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I was thinking:
Many people hold tens of thousands of coins (see rpietillas TOP 500 for some info). That means lots of coins are in the hands of some wealthy elite that are already rich and have not immediate need to cash out anything. That's not wealth, that's power. Having 1% of the total coins is purely power.
What if we would have a prolonged downtrend (not violent) to $5-10 for let's say 2 years? May of them will cash out, even partially. We need a good distribution of the coins and I do not think that stronghands can be shaken otherwise.
If you aren't willing to cash out at $200, why would you cash out at $5? |
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Then it consolidates for a very very lonnnnnnnnnnnnnnng time. What, like 6 months? |
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what do you guys consider to be a whale nowadays?
Maybe >10 000 BTC? > BTC1.000 IMHO. How much would you be able to move the market with BTC1000? |
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what if whales are afraid now to dump bitcoins because other exchanges may not follow and they will have to buy back for higher price a while later?
Whales are not going to dump anything before 2017-2020. For now it is mostly guppies are running around and making all the noise. Whales do not hold coins long term. They use the coins to manipulate price. lol Hard to manipulate the price by using coins without actually holding coins. Your theory makes little sense. what do you guys consider to be a whale nowadays? Maybe >10 000 BTC? |
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