I just pulled out of Bitcoinica after using it for months. The algorithm that determines the spread is rigged, I have no other way to explain it. The interest rates are nice, but if you look at the history they often fall to 0% throughout the day for no reason. But the spread is horrendous. The price on goxlive, btccharts, clark moody can be swinging wildly up and down on my screen, and yet the Bitcoinica spread will stay dead flat for hours. I'm used to watching real forex spreads react immediately to the market up and down all day. That's ignoring the fact that the spread is super massive, which limits you to swing trading only. If you overlayed a candlestick chart of Gox on top of the Bitcoinica "Daily Quote" chart you would end up with a huge "WHAT THE FUCK!?" look on your face. I guess what that does is even make swing trading impossible. During any big rally or dip the spread takes so long to react it's impossible to actually make a profit. I suppose if we were back in the days where the price moved $5 at a time you could make money, but not in this current market.
I have to agree with most of that. |
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Definitely impending doom, especially considering the Mt.Gox bank holiday.
what's that ancient japanese saying? don't stand under golden shower week? anyway, they are still open, dwolla works, uk bank works, and you can wire to a number of other exchanges, including bitcoinica even. Wire to bitcoinica, withdrawal via instant mtgox code. Problem solved. |
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please explain "sd/rx small transactions practically every day off of 3BTC seed donation" No biggy, a number of us on a closed forum have been helping each other get started with BitCoins, that's all. Sending/Receiving (sd/rx) 50-200mBTC amounts (milli=1/1000BTC), to help test other member wallets, as they get it setup for the 1st time. Plus there is a fellow producing mp3's, I like listening to his thoughts & as he started accepting BTC's, so I send him 100mBTC's now and then. You can stretch a couple BTC's along way, if your conservative & by going to dailybitcoins once/day it covers the transaction cost. Our admin donated 40BTCs to the 1st 20 people that could get setup to start using BTC's, that pool went fast, and so a number of us are now giving back, so others can use that seed money over again, the idea is to get more new members started in using BitCoins, that type of thing. I'm kinda hoping to help get 100 new BTC users within this 1st 60 days of starting the project, would like for it to have been 500, but as U know acceptance takes time. If we could get a hundred on board, I'm thinking it might just avalanche quickly up to 800 or more. Sorry about the thread drift OP, please continue, I honestly think it's fun to watch you very early adopter folks blowing Bookies around on a price swing bet.  Hope that answers your question adamstgBit, just trying to do my part & grow the community. this is why bitcoin rules what is this closed forum? how did you guys get interested in bitcoin? I think the 5BTC bet was just to keep it interesting. no point having a 0.01BTC bet. I dont think these guys have 1000's of bitcoins even if they have been around since the earlier days. In any case 25$ is 25$ just because they "got them cheep" doesn't mean they are worth less to them. Their just keeping it interesting. are you setup to start buying bitcoins yet? I am also interested in this forum. Subscribing. |
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pic
Move is up
mmmm .... InverseFisher... Someone thinks like me .. I wonder how many people caught in this bear trap ...I would imagine we've been picking up a hell of a lot of shorts in this never ending 4.90 -5.10 trading loop. this is why i think the longer we stay at these levels the more explosive the rally will be once we get going. +10 |
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Madness is still going on:  Great, now both sides are highly leveraged... no matter where we go from here it's going to get messy real quick. |
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Sent 0.1  Confirmed, thanks! |
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OMG, most times S3052 is predicing growth, bitcoin is falling down like a stone  Look at what is happening now, price already at 4,86 and still falling  But I don't want to blame S3052, but fact is that bitcoin prices cannot be predicted. Look again. It bounced hard. Could be a retest before continuing down. Could be. |
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OMG, most times S3052 is predicing growth, bitcoin is falling down like a stone Look at what is happening now, price already at 4,86 and still falling But I don't want to blame S3052, but fact is that bitcoin prices cannot be predicted. Look again. It bounced hard. |
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Do you trade on outside indicators like Google trends or just news hits? Or do you use only technical analysis?
I trade on hearsay, astrology, and reading the cracks in roasted chicken bones. I also put faith in MACD, RSI, and ARGH. Google trends is delayed a few days, but then again it also takes a few days to get set up to buy bitcoin. |
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I'm gonna call that a yes. I'm not. I'd call it a fail, or at least a dodge. I asked if he could prove that those afore mentioned criminal activities have occurred. It was a loaded question, of course, because the only way that he could prove any such thing would be to have access to the private computers of those afore mentioned criminals. Which, most likely, would mean that those computers belong to himself or someone he personally knows quite well. Anyone who would use a publicly posted bitcoin address to send funds to a publicly known criminal either doesn't know the criminal part & didn't buy criminal services or is an idiot, and it would be hard enough just to prove one or the other, much less an actual crime. I meant a yes to the question I quoted, not your question. I agree with you there. |
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I'm gonna call that a yes. |
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Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold..
Imagine if we created an energy matter converter AKA "startrek replicator", you could replicate gold / silver / cash... wtv, but not Bitcoins  Physical bitcoins would be vulnerable, and whoever was slowest to break them open would be stuck holding a worthless coin. |
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Please enlighten me on this simple theory. Why does the resistance not cause more pressure on one side when the fluid is being pumped through a restriction? Surely you can explain such a simple theory to someone with a degree in math from an engineering school.
I'm sorry i didnt know its the forum tradition to flash your degree when there is an argument. What is an engineering school btw? is it a school that teaches engineers? You understand the differences of pressure loss and negative pressure? Can you tell me what is a negative pressure? I told you I didn't know and ask you to teach me. Instead you just act like an ass. Good job. I wasn't flashing my degree, just trying to show I have the ability to understand so you won't be wasting your time. But whatever, now that I know positive pressure vs. negative pressure is not the same as high pressure vs. low pressure I can probably do my own research. Way to turn a simple misunderstanding of terminology into a "You're such an idiot" post. Ass. |
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it was me the joke is getting old fast it was notme it was who? notme ya ok, but who? notme... i know it wasn't you but who was it notme! slightly better joke? |
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Another way of looking at it. Assume the maximum stated range of 300m. Assume perfect spreading. 30000 bitcoin users would be able to cover 51x51 Km. Out of a total of 510 million square Km of land mass. Funny that. Edit. Not sure where I got the 30K from. It seems to be closer to 5K: http://bitcoinstatus.rowit.co.uk/serversStart.pngSO all bitcoin users combined could theoretically cover 21x21Km. More realistically, only a fraction of that, barely enough to cover the small town I live in. Surely this would be the relevant chart? http://bitcoinstatus.rowit.co.uk/hostsStart.pngYours is listening hosts, ie those with open ports I think. Anyway, surely we have more users than last September (60,000), most probably can't be bothered to keep th chain up to date anymore. That graph is better, but is still only a lower bound on bitcoin users. It only shows those who run a full client 24-7. I know I don't fit that requirement, but yet I spend 3+ hours a day doing bitcoin related activity. |
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it was me the joke is getting old fast it was notme |
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Update emailed:
I smell blood.
I thought you were supposed to buy when there was blood in the streets.... or is that more literal than I had assumed? |
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Deflation would put the dollar back on course to reliability, but it would be so painful at this point that people would be dying in the streets and major cities would turn into warzones; much worse than Greece is now.
Meh... it doesn't have to be all deflation all the time. In inflationary periods, there are days the dollar gains value. In deflationary periods, the dollar will lose some days. Sure, it will be rough for some, but the banks holding all those extra USD reserves they got on the cheap will do just fine. |
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I have a high pressure pump on my LC rig, and I found that when a tiny leak appeared, I lost the card. I shifted the pump to after the cards, thus creating a negative pressure where the cards were. Now if a leak were to occur, I'd simply be suckin in air, rather than forcing out coolant.
In a close loop, there is no such thing negative or positive pressure. Its a sealed volume. Once you have a leak it isn't a closed loop. Besides, restrict the water flow in your closed loop (such as running it through a water block compared to 1 inch hose), and you can bet your ass you'll have negative and positive pressure on either side of the restriction. Thats a bad misconception. Someone clearly dont understand this simple theory of sealed volume. Please enlighten me on this simple theory. Why does the resistance not cause more pressure on one side when the fluid is being pumped through a restriction? Surely you can explain such a simple theory to someone with a degree in math from an engineering school. |
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