BitSwamp has been under the control of that guy with the 1000k ask wall since July ... someone needs to clean his clock and take him out once and for all ...
The exchanges make a lot of money. Where the money goes? I bet the people behind these sites are not innocent at all like some rigged online poker sites. and they animate the market, their business can continue. Mark Karpeles is just the tip of the iceberg. ... a genuine auction/exchange has genuine buyers and sellers ... and is not frequented by a bunch of con-men, phonies and cut-throat scalpers. If BitSwamp doesn't want to clean up their act then genuine buyers/sellers will disengage and go elsewhere no doubt. |
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With space, you get much higher latencies than on the ground. To get full coverage over populated areas of Earth, one requires multiple orbital planes, resulting in something like this:  sweet ... got a view that shows southern hemisphere ground stations (e.g. australasian)? |
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So putting these three principles together here is what I see:
increase the block size by 2X% per year, where X is the block reward. So we'd have a couple more years at 50%, then four at 25%, then four at 12.5%, and so on. This is still an astounding growth rate.
... cute and simple, but isn't that what I just said? It is an interesting solution too, in that it locks the two scarce resources bitcoin provides (block space and coins) into the same release schedule. In this way, the decrease of block reward to miners might be replaced by a commensurate increase in fees from more competition for blockspace. |
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Put another way: I think we are behind the curve. Making a steeper curve to compensate could really throw us off in the future, but adjusting the Y-intercept to put us back on track, and then making a good guess about the future would be better.
+1 A correction now and then less aggressive growth going forward could be a better idea. ... or begin with 50% growth then have a halving of blocksize growth every 4 years? |
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why do we get this on version check: cypher@ubuntu:~$ bitcoind getinfo
bitcoin is very out of date and has been removed.
Please see upstream sources at https://github.com/bitcoin/bitcoin/
or the PPA at https://launchpad.net/~bitcoin/+archive/bitcoin
cypher@ubuntu:~$ bitcoin moved to the ppa you have to install then you can use apt-get PPA and 0.9.3 already installed and running. Why don't "bitcoind getinfo" return version info like normal? Do you have both bitcoin-qt from the PPA and bitcoind from the Ubuntu repo installed? Do a "dpkg -l bitcoin*", if you have both "bitcoin-qt 0.9.3" and "bitcoind 0.3.24" installed, then do a "sudo apt-get upgrade bitcoind" to upgrade it to the PPA version. why should i need bitcoin-qt? everything's working fine, btw. i have 0.9.3 core and 0.92.3 running just fine and top command shows bitcoind running. i also already have the PPA installed. the bitcoind rpc command functionality has been removed, you have to now use bitcoin-cli for rpc calls from the command line will give you the full list. is now used only for launching the daemon. |
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I love Bitcoin, but it seems they might love it even more than I do. Wow. Edit: market cap potential of $75 trillion? I think the S&P 500 passed $15 trillion last year, which would still put it at probably less than $17 trillion in cap. Call it an "upper bound" on price .... but if btc ever gets near $4.3 mill then you'll be wiping your bottom with dead presidents faces and the world will be a very different place, hopefully for the better. |
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Here we go  Afraid you just can't get the panic buyers these days  yep you go it ... the buyers at the bottom are the hardened bulls only, the panicked ones come late to the party only, Old joke goes like this: Old bull and a young bull standing on a hill over looking field of young heifers in the spring, young bull says excitedly, "Hey lets lets run down there and screw some of those young heifers!!" old bull replies confidently, " We gonna walk down there and screw them all." |
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The only fully rational motivation I can see is if he was trying to achieve a low but stable price for a period of hours during which to secure an OTC deal in the other direction This. I think you'll find the $300 ask was posted almost exactly at 01.00 UTC. It's possible it was the target for a much larger deal that was going through or futures contract settlement time, perhaps even being targetted since July to have price at $300 on that day and time. Looked a lot like options expiry time manipulation often seen in the commodities markets. |
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Also some of these ideas are worth discussing as they have implications for significantly changing the computational resources required for a fully-validating bitcoin node ... and thus h/ware requirements for the BitSat cubes most likely. https://bitcoinfoundation.org/2014/10/a-scalability-roadmap/Particularly, whether the BitSat would carry the full blockchain or hashed UTXO with a confirmed depth only? |
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- Open Source Space - Space-as-a-Service (SaaS) - Wire the solar system for networking - Data centers on Luna and Mars luv it! |
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...
The USA is bankrupt. They are printing their fiat into the sewer. They have just about run out of boots to keep kicking the debt forward to future generations. If the USD collapsed the FDIC would cease to exist.
For a bankrupt country, we're doing pretty well. Which irrelevant backwater do you hail from?  Shouldn't you be posting your special brand of venom and bile on "USDollartalk.org"? Oh wait, you don't have one because everyone fucking hates what it represents so much. |
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I can't believe more people aren't worried about the exchanges...I mean if Bitcoin totally tanks I am thinking most of the exchanges out there will be taking the money and running.
I'd be worried about leaving BTC on Bitstamp right now ... the place is behaving like a sewer ... maybe that's what the WallWhale knows? He tried to move his 30k BTC out of Stamp and it got refused so he's moving as much as he can in fiat before the whole thing freezes everybody's funds up an "no more BTC for you!" time. |
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Shorting any financial asset is a valid and usually very risky speculative strategy. In the case of gold, it needs a massive amount of money and, in order to negate the risk, zero fear of losing that money. The only entities that are in that position are central banks. But aside from governments and banks, who else would be interested in driving down the price of bitcoin to the extent that it might ultimately kill off the golden goose? And more importantly, who else would have both the money/means and motive to do so? This feels more like a slow and steady attack on bitcoin's core rather than shorting for long term profit. Perhaps I'm being paranoid.
Nope, I agree. Could classify it as a "social attack", via price manipulation algos on centralised exchanges. Pretty sure there is good evidence for it beginning around 600 level in late June early July time frame when the momentum for the next natural wave up was building substantially. Most likely some of the big banks got together (or would only take one like e.g. Morgan Stanley size) and got sick of waiting for governments to do something about bitcoin and decided to take matters into their own hands, so to speak. |
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... and you're in a jurisdiction where this is illegal (surely everywhere once they find out about it)?
Why would this be so? Surely they could not make it illegal to secure your own end of a data connection in which ever way you see fit? It doesn't penetrate the corresponding party's system and it abides by the established secure connection protocol offered. |
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On Friday, George Jepsen, the Connecticut attorney general, opened an investigation into the breach at JPMorgan, while Benjamin M. Lawsky, New York’s top financial regulator, began calling bank officials to warn them to take the threat more seriously.
“There needs to be far more urgency,” Mr. Lawsky said in an interview.
http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=0Looks like Lawsky is going to have his hands full with multi-trillion dollar concerns to wrry to much about minnow bitcoin for some time eh? |
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Several financial regulators have warned that a coordinated attack on the banking system could set off another financial crisis. http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=0If you have assets in any form in a major US financial institution you probably want to consider leaving only as much in there as you can afford to lose ... this puppy is long overdue to go down. ... and it was always going to come down to a competition in systemic robustness. The bitcoin network is a creature of the jungle, the big fat, soft targets of the US financial system centralised databases were always the weak link in the State's last hurrah of triumphalism. You didn't think it would go down without a real fight? |
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good morning, so when FIAT money lose its value and the buying power becomes weaker every year, we usually call that inflation (and we think that solely inflation is the cause), but when Bitcoin lose its value faster than the Argentinian peso , what do we call that ?
Anyway, clearly the adoption is slowing down or the new comers think Bitcoin is overvalued and this is why there is almost no support for the price, my biggest fear is that only we (bears) early adopters who sold before are providing the existing weak support for the current price with our open orders... which is really scary.
It is the weekend, will we touch 330 this weekend ? I think we will find about that soon...
http://dealbook.nytimes.com/2014/10/03/hackers-attack-cracked-10-banks-in-major-assault/?_php=true&_type=blogs&_r=09 more financial institutions have JPMorgan level pwnage. The Western banking IT infrastructure is on the verge of complete collapse due to a cold cyber war. The stupid Western governments have harried all it's citizens into succumbing to vulnerable centralised database systems, sometimes under threat of criminal prosecution for not complying. Now that all the sheeple are in the corral, predictably the wolves have arrived for an easy feast ... and the captors are no protectors. |
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btw, the current pullback was a result of Gox also. it's a good thing they're out of biz: Gox has shutdown at all three major peaks ... we haven't had a blow-off top yet without a technical failure of the main centralised price discovery mechanism that initiates it. |
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