I really like this idea, but I see a lot of problems with the implementation, mainly due to bitcoin's small market and price fluctuation. For example, a couple of days ago the price went down 20%. How would you deal with that? Bit-pay is a recent company that tries to solve this problem by converting the bitcoins paid by the customer into a fixed USD price before paying to merchants, but they only work within the US. Which this leads me to the second problem: how exactly do you plan to convert bitcoins into the country's currency? Besides USD, EUR and GBP, there aren't many bitcoin markets with a large transaction volume. |
|
|
|
|
How do you know that each address only belongs to one person? One of those address could be from MtGox for example.
|
|
|
|
Do to recent scams, I look for an exchange based in the US.
Camp BX? |
|
|
|
Is there any known reason why this does not work in mobile safari? The gen key function seems to be called and the CPU seems to be chugging along for 4-5s but nothing is displayed past "move your mouse". I tried to step through the js execution and think the script halted at one one of underlying crypto functions.
Try Opera Mini. It works on my iPod 2G. |
|
|
|
By design, we want to skip over the mining and the cryptography, and focus on how the general public (e.g. a PayPal user) would use bitcoins. Finally! Looks great. Much better than the weusecoins video (which is neat but too complicated for common users). Off topic PS: I've been wanting to tell you this for a while: avoid using blue letters on your website if they do not contain an hyperlink. I always try to click around when I see your frontpage. |
|
|
|
|
S3052 does a great job on technical analysis (I even follow him on twitter to keep up with all the updates) and yes, he considers other things beside the charts, such as the community thoughts here at this thread. I was just saying that every prediction must be taken with a grain of salt.
Regardless of the bitcoin price, volume in currency is an indicator of how much people are trading. Investing $1000 in June means that I can move around 33 BTC. In October it means that I can move 250 BTC. So the BTC volume should be 7 times higher now, but instead it is more or less the same. Either we have the same amount of people investing 7 times less money, or we have 7 times less people. Either way, I don't believe that we can support $30 prices.
|
|
|
|
|
I also don't like these low prices. Not because of the price itself, but because a small variation in price has a huge impact in someone's wallet. And the price has been moving a lot lately, mostly down...
|
|
|
|
We are at a very important juncture on BTCUSD. Here is an excerpt of the special update in the subscriber section: Prices are right where the longterm uptrend lines run. The view on the longterm chart, shows that we are likely at a buying opportunity of a "bitcoin lifetime". Very likely (80%), this trendline will at least spark a strong countertrend rally from approximately current levels. But as this trendline is important and prices are more in a consolidation than in a "bubble" state, there is a high probability that BTCUSD starts a rally to new all time highs. When looking at the very short term, we have been analysing two extreme scenarios: Either prices rally from here around 4 $. Or, BTCUSD will do one final dip below 3.79 $ before the reversal starts. Only a strong, sustained move below the long term trendline will result into a much deeper correction. Still, we do not see this as the more likely option and remain long term bullish. http://www.bitcoinbullbear.com/index.htmlI have been following your analyses and I really enjoy them. Thank for doing it. But honestly, you need to think "outside the chart". Bitcoins are not like the regular stock/forex market. The $30 high was caused solely by news sites and people's curiosity. Using that peak to constantly claim a rally to a new all time high is short sighted. It's simply not going to happen without another major breakthrough in the bitcoin world (something like Amazon accepts bitcoin) because there isn't enough market capital to buy coins all the way up to $30. The volume in currency clearly shows that in June we had a lot of people trading, but they are gone now:  The prices might go up, but they aren't going anywhere near $30 anytime soon. PS: It's simple math: the number of coins is increasing rapidly and the number of new investors is decreasing slowly. |
|
|
|
But wouldn't buying 2 3GB 580 GTX's pay off sooner than a ATI?
Just compare the values yourself: https://en.bitcoin.it/wiki/Mining_hardware_comparisonBeing better depends on what you are doing. If we were using bcrypt instead of SHA the CPU would be better than any GPU. |
|
|
|
We pay the fee on every external transfer.
That doesn't make much sense. You should be saving it to to increase the dividends. None of the exchanges charges any fees and transactions always go through. Ever wondered why? You might want to pay a fee sometimes but it is definitely not required for every transaction. |
|
|
|
Just a note here, most exchanges/ewallets don't pay fees to the miners simply because it is not required. Using some smart strategies you can totally avoid this. I hope you are having this in consideration in order to maximize your profits. |
|
|
|
EU does not have a president, that rule over its member coountrys.
Really?  Just kidding. We're going way off topic here... |
|
|
|
It fluctuates until a block is found. There is no way to know when that will happen so the estimated reward is just that, an estimation. With that card running 24/7 it will take you about 1 month to get 0.5BTC. See here: http://tpbitcalc.appspot.com |
|
|
|
There haven't been much news from Camp BX lately... Are SEPA transfers still on the roadmap?
Nmat, We were hoping to launch in Europe late September, and also have a multi-currency back-end ready to go! Unfortunately running into some red-tape in Europe. We are hoping to get required permissions and redundant bank accounts in place by Q1 2012 to ensure uninterrupted service for our customers. Thank you, Keyur That's too bad  Well, at least I hope that when it launches it will be reliable. MtGox/TradeHill have been on and off with SEPA transfers for the last months. New feature suggestion: allow users to import private keys ( like MtGox does). It would be cool if you could make this sort of ubiquitous so that users don't need to worry about the correct format. |
|
|
|
|
I vote for stagnation slightly above $4. But maybe the weekend will bring us surprises...
|
|
|
|
Where are the arbitrage bots? There's a huge spread between Mt. Gox and Tradehill right now, which is exploitable. Maybe the 'bots ran out of cash buying on Mt. Gox and can't get money out of Tradehill fast enough. (That's a big problem with arbitrage between Bitcoin markets; getting cash out of the exchanges quickly and reliably is like pulling teeth.)
I am doing arbitrage and yes, I ran out of money on MtGox  Bitcoin arbitrage works like this: during 1/2 weeks there are nearly 0 opportunities a day. Then in one day you get like 1000 opportunities. You gotta have a lot of money placed at exchanges in order to catch up with everything that happens in that one day. |
|
|
|
Hell with this. Bitcoin won't die. SELL SELL and bring down that wall!
The price is actually going up right now. I don't think we are going to see lower prices today. We already had the "usual" 20% decrease. I could be wrong, though. |
|
|
|
|
I did see an 1000 order... Anyway: $3.86
|
|
|
|
|
Show Posts
