The price wasn't exactly going to the moon before the china ban rumor. Total bid sum on Stamp continued to decline and we saw repeated fail pump attempts.
This is going to change if the rumor turns out to be false? Yea right.
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Ready,
Set,
BUY!
No thx. I'd rather dump all over this party. At least until we hit double digits.
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Interesting Huobi isn't on the list, do they operate under a different name? Doesn't Houbi mean "fire currency" (which is mentioned)?
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Interesting discovery we just made in Risto's thread: price action seems to grow with (proxies for) the square of the number of users, as per Metcalfe's law. Here is the square of the number of TXs per day (excluding popular addresses) overlaying the price history and shown on a log scale. I've shifted the N2TX curve for easier comparisons. Indeed, Metcalfe's law appears to hold (the two curves tend to have the same slope on the log curve at any given point in time). ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F7zYmSM3.gif&t=663&c=F1u-u6iLwd3XHA) Useless chart without dinosaurs. I'm not sold yet.
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Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.
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todays pump and dump coin: LTC
shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhho cking.
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Less than 11 mil bid sum on stamp... Single digits by Friday ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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http://online.wsj.com/news/articles/SB10001424052702303563304579447020246651110Treasury's Cohen Warns Unregistered Bitcoin Exchanges Says Government's Approach Focuses on Fostering Innovation, Transparency By MICHAEL J. CASEY March 18, 2014 9:26 a.m. ET
The Treasury Department will come after the many digital currency exchanges and administrators that haven't registered with the Financial Crimes Enforcement Network, the Department's top official for terrorism and financial intelligence said Tuesday.
However, David S. Cohen, Treasury Under Secretary for Terrorism and Financial Intelligence, stressed that the U.S. government's approach to regulating digital currencies such as bitcoin is driven by a desire to foster innovation and transparency in an industry that has significant potential.
We "know there are many virtual currency exchangers and administrators that have not registered with FinCEN and are not fulfilling their recordkeeping and reporting requirements," Mr. Cohen said, speaking at an event at Bloomberg News in New York. "Those that do not comply with these rules should understand that their actions will have consequences."
He said Treasury's approach to enforcing and devising rules for digital currency use "is rooted in two guiding principles: fostering innovation and ensuring transparency." He described this stance as "more measured and, I would submit, more sensible" than those of countries such as Russia, which sought to ban digital currencies outright.
"We place real value on the benefits of financial innovation," Mr. Cohen said. "Advancements in technology that allow entrepreneurs and businesses to innovate, grow and hire are crucial to our country's long-term economic success."
But he added, "we have a critical responsibility to protect the U.S. economy from illicit finance threats," which he cited as real concern with virtual currencies, one that threatened their long-term viability.
Mr. Cohen said the Treasury Department is working with other governments and multilateral institutions to seek to draft consistent rules for digital currencies around the world. He said the international Financial Action Task Force, which sets standards for anti-money-laundering and counterterrorist financing practices, will later this year release a paper that will update common definitions for digital currencies and lay out potential benefits and vulnerabilities for the sector.
He also said that the Treasury will include a representative from the digital currency sector to sit on its Bank Secrecy Act Advisory Board.
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And steadily declining total bid sum.
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Anything is possible if total bid sum keeps depleting. No Gox style fiat withdrawal halt to save us this time.
Anything is possible in a dream. Heck even in physics, for a suitable definition of anything. In logic, even: Ex contradictione sequitur quodlibet. You have missed the point, and your counter argument is a red herring. http://en.wikipedia.org/wiki/Red_herring
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Currently, what is your next buy point? I am thinking that my next buy point would be under $610... and then again at $580... yet my buy point will fluctuate based on how quickly we are getting to that point.. b/c when possible, I would prefer to buy at the lower price... like any good capitalist.... hehehehe
$500 would be cool I try to stage buys just above support levels, sized proportionate to the anticipated support. If momentum seems strong, I will bias to the lower end of the bid stack. I see resistance at 625, 618, 608, 600, 584 on technical grounds. I think 550 is dreaming. Anything is possible if total bid sum keeps depleting. No Gox style fiat withdrawal halt to save us this time.
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bid sum has increased to 15M on stamp. Ask 17M.
Wally, how far do you think it has to increase before we get enough upwards momentum?
We might wake from hibernation when bid sum goes over 20M. MIGHT.
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the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it
Except Ripple. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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