The fact that there is any volume, is an indication that someone is buying. This is bullish! To the m00n, boyz! 

Withdraw is not a problem, I can buyback and withdraw everything I have in the exchanges, in 1-2 hours, 12 hours at most.

Of course if something happens unexpectedly, then the funds are trapped until they become available again. But in my past I have already been target of a "governmental denial-of-service attack" where all my funds were confiscated for months. So I know how it feels and can accept the risk. I don't send more to the exchanges than I can afford to lose, and the probability of permanent loss with the current exchanges is very much smaller than with the scammy exchanges of the past.

I disclose the reply made to Bitstamp KYC questionnaire:

Yes, in my speech "Bitcoin" has begun to mean the whole monetary and liberty emancipation. 


Matters such as Bitcoin's desing flaws, are quite high. Similar as the fundamental flaws of the previous system. Only very talented people should make the research of them their main job. We both belonged to this category in the silver era, and now in Bitcoin era. I don't think we should introduce technical matters to the general public, as we are still in the situation that most people would benefit more (EV-wise) by just buying in with moderate amounts and letting the profits run (than by endlessly analysing all the possible points of failure, which do remain, but postponing your buying loses you money BIG TIME, I mean you). This also strengthens the Bitcoin economy more than talk which is founded in possible dangers far in the future.


The QE ended up as dollar bond issues throughout the developing world. Thus what they've been successfully doing the past 12 years is running up the debt of the world, and preparing all the tracking technologies, for the global implosion that will begin before 2020 (and after 2015).
[/quote]

Don't concentrate on FUD-news too much. I don't follow the news on QE or anything for that matter, just happily concentrate on Bitcoin:
1) See how I'm doing, not bad ha?
2) When Bitcoin grows big enough, it just eats up all the problems of the world. Some of them may need help but it is best to attack from a position of upper ground, and at a time when victory is ensured (Sun Tzu, et.al.)


I am quite serious in my assessment that I serve exactly in the place that fits me best and gives the most leverage to those who read me. I am quite certain that you are also doing what you should. Even caring about their cooking is admitting that they have something in you. Jesus said, "the prince of this world is coming, and in me he has nothing."

You quote is actually true in both levels:
- Rich (much BTC) rule over (employ) the poor (few BTC). This is righteous.
- The borrower (in current system, practically all the govs, most businesses, and those people that in any way have any debt, even indirectly by being citizens of debt-enslaved countries) are slaves to the lenders (the Rothschild and their cronies). This is unrighteous and will be ended.


Correct, but I don't have the time to concentrate on that just now. It will resolve itself automatically (perhaps requiring hard work from you, but automatic for me ) In the same way as my 6-week old threads are now considered "classics" but 7 weeks ago they did not exist...


This is about another person, whose contribution to the thread was to 3 times announce that he does not understand how arbitrage works, and therefore does not believe anything else I say. Fine for him, I deleted the crap and left only the explanation how it works. But in the future I will not be so "kind" to waste my time with such. It is not kindness at all when considered from the readers' point of view, to spend your time unnecessary explaining matters that are general knowledge and could be found with a little effort, if the time could be used for some new valuable contribution. I know this is the case only rarely, so those opportunities must be seized, even if it means less time for paperwork.


Small (token, often unredeemable) coins have always been a form of payment, and I see no reason why this would change even in Bitcoin economy. I have spent countless hours designing a silver-backed coinage for the monetary system that never came. Now all this knowledge can be put into general use


Ftr was not criticizing you.


Shoot.


I started doing spreadsheet simulations about the world economy and various other topics in 1990, I assume before you did.

S-curve is very applicable to Bitcoin's adoption as a payment technology "use as a currency".

Don't everyone think that the "store-of-value" aspect was a little overextended when the average bitcoin stash per owner was $12,000 a week ago?

(If not, then just scale it to the adult population of the world and we get $54 trillion bitcoin market cap when all are in (9 times that of gold). Sounds like what we've been dreaming, ergo must be true.) 

Where were we 30 days ago? Oh yes, $290, and just had crossed the ATH and everybody felt so good.

Now, $912 seems "cheap" to them who would like it go to the moon before Christmas.

There is still so much air in the bubble. Hard to know, which outcome I would like most, ch00 ch00 or orderly reversion to the trend.

+1

Read my SSS, so that you can comment on it based on knowledge what it is.

Gandhi's model looks nice, but is currently expressed in a way that leaves everything to active portfolio manager. So it is not a strategy that 99% could effectively employ, since they are not portfolio managers.

I am interested because of interest. If he can express some of the mathematical principles, I could use this on my work. Even if it'd be too difficult for the 99%

So far china has got debt in exchange for goods. Now they get money. Trade balances equalized in both continents.

I would very much like to see his approach formulated in mathematical way, so that comparison to SSS could be made (the latter is a fully automatic strategy which in my opinion hedges against the total failure better, but cannot say for certain before gandhi provides the details of his)

My prediction for the rest of the week: Rise with slow volume until Wed, then choppy downtrend to 600s, making it hard to see if a certain figure is a buying of selling opportunity.

Interesting approach. Is there any way that you could make a mathematical model about it, so that we could compare vs. the SSS plan?

The forces of evil must move slowly, mainly because:

- Their commanders must remain secret to continue commanding
- Their whole system is based on lies upon lies, which must be constantly covered and built upon ad ridiculium
- Their organization is the opposite of agile
- They must appear good/reasonable to the masses.

The 9/11 was a turningpoint, after which the astute people on the side of freedom saw that the U.S. will descend to a (world) police state. But see how little they have accomplished in 12 years! All the gains in spying power have come at the expense of greatly increased information (and later monetary) freedom to everyone.

Bitcoin is now going much faster than the dark side. Your threats may come to fruition in 5-10 years, do you not think that we can outpace them with new innovation in the meanwhile? I am eagerly awaiting the pictures of the new roofs that have been constructed merely a week from the typhoon! In the old system, taking the funds to the site of need would have taken 3 months alone. This is only one of the myriad of examples that is carried out by a tiny population (1.2M) of bitcoin users.

Yet - there are very few truly powerful thinkers/influencers/powercenters (ie. supernodes) in Bitcoin economy currently. The number is going to grow exponentially in the following months. This means a corresponding increase in our power, whereas the power of the dark side stays constant at best.

Many have asked, whether I am afraid to be so rich and yet speak so directly. Why should I be afraid? First of all, I don't come from a family of great wealth, and I know how it feels to live through an adolescence spending practically nothing. The wealth has come to me for a purpose, and I feel that this is the purpose now. Only twice have I sensed a grave personal danger coming from the current system. Both times I disclosed it in the forum that I was then contributing. The first time I got all my confiscated property back after 7.5 months. The second time I was locked in a mental ward for 6 weeks. But I am still alive, and grateful for the experiences.

Besides, Bible says that we should not fear the one who has the power to kill (Satan), but the one who can not only kill, but throw you in hell (God). I have chosen which one to fear. We should submit to authority but not fear it, (unless we do evil, because authorities are there to punish evil).

It depends who you need to trust. In the current system we are forced to "trust" in the banks, which in turn are free to abuse that "trust" in any way they want at taxpayer's expense. Ever since Bitcoin started, Satoshi or anyone has had very little influence on the network's operation. Everybody has power in direct proportion to his willingness to spend the coins that he has. So Satoshi has no power unless he spends his coins, also you have no power if you don't have many or any coins.

The problem is that the "crash" so far has not come even close the trendline. So either it was not a crash at all, or we will be visiting the trendline soon (down), or there is a new paradigm in bitcoin price (such as the one of growth spurts without deep crashes in 7/2010-6/2011).

It quacks like a crash. So my bets are hedged whether to visit the trend or continue higher in a sense that invalidates the trend.

December target at about $428.

Ofc it can go higher for an extended period of time. But aren't we kind of in a bear market now? Ending the year at $500 sounds very good to me.

You mean an actual bet? Yeah, sure. I feel we will go visit the exponential trendline.

It's been a busy week. Partly due to delays in the repatriation of my profits from bitcoin sales, partly due to my willingness to invest some of it back on favorable terms, partly due to the epic volatility which gives both daytrading and arbitraging opportunities. But now it's over and I have some 40 minutes to write about what actually matters.

Simply put: Bitcoin is going to transform the world. Last March we calculated the EV for one bitcoin to be in the thousands. It sounded far-fetched. Now the price has already crossed a thousand (redefined as $1/mBTC), and can be expected to hit $10 next year. The recent EV calculation gives values that can reach $1,000/mBTC, and that is the average, weighted value, which considers the chances that it goes to zero!

The issue is not, how big numbers we are able to choke out, but the mode (hard to find a good word) bitcoin operates. When it gains more users, its value grows, which interests speculators, etc. etc., there is a virtuous cycle going on, and it has resoundingly proven itself over these 5 years and several bubblepops. I don't think anything can stop this, and the logical conclusion is that it won't be stopped. Like leaven in the dough, it works until the whole of it is leavened.

Some technologies have made a near-universal adoption, such as bank accounts, mobile phones, and email. In Finland, you are practically required to have all of these in order to have any dealings with the government, for instance. Yet none of them (save bank account) is sanctioned by law. I believe Bitcoin will soon join this group of de facto used technologies. While leavening the system, it does away with fiat money (including debt), and we will have a quite interesting new world when all is completed.

Can this happen without the shedding of blood? There are many revolutions which have been violent, but the technological revolutions have in general been quite peaceful. When email was introduced, did people riot on the streets? Mass executions after mobile phones came? WWW brought all kinds of calamities? Not really. There is one trapped government in the world (USA), which cannot realistically see that its iron grip on mankind could be held indefinitely. They may attempt something, but it's futile. Their belief that they need to control the world is wrong. And if they try, they fail. (They control the biggest bitcoin address, though )

I have been thinking these kinds of things. My threads are designed to be more dense (less cluttered) than the usual forum content. I have none whatsoever interest in arguing. Today it's been necessary to completely remove posts from one user who just cannot understand that the readers are not interested in anything that he is able to produce (considering the focus of this thread, elsewhere he's doing well and has saved my time by writing along the lines I would have posted). There is no law that requires me to explain. There are so many threads and you can start your own. There are 3 mock-threads about me, mentioned by name. If you feel better reading them, go for it.

My intention is to research, write about and promote Bitcoin Economics. To this end, I often use examples from my own life (they are good, because they were the way I got to think about a certain concept). There has been no way for me to continue writing about these matters but by divulging the number of bitcoins I have (approx. BTC10,000). If this puts me in the 50 bitcoin richest in the world, praise the Lord! Today my share of global exchange trading volume has been even significantly higher than the share of coins (~1%).

Bitcoin strips you naked. Everyone sees how much money you have. And at the same time it is impossible to know who has what. It is a very different world where we are entering. And I am liking it. Sure there are many haters to this openness, but I think the bulk of it is just a knee-jerk reaction to something new. Then many would like to have as many coins but don't. To them I would advice to read all my threads, and consider, how to get the optimal number which is still available, even though the megajackpot amounts are not available any more.

Thanks, when I wrote it, it was more like $10k...

Anyway - is there a way to make this work without the shares? I don't like them as a concept... The bail and the clever way of allocating it should be the centerpoint of this structure.

Yes, explained on the 3rd day of the last crash (funny to be reposted as now is also the 3rd day).

How much do you make per hour? If it is a reasonable $25, your work should be worth $100 per hour to your employer considering overhead and such. Would you waste your employer's time talking to people who:

A. could understand if they took the time to read again, and then think some
B. (even worse) could not understand regardless.

When you think of the value of your time, certainly not. You could be fired for wasting your time like that.

Now, I did an allnighter. 12 hours trading session, in which I traded as follows:


The profit was $1,600 (about 2,100mBTC) per hour. Ergo my time is 16 times more expensive than yours, and I must manage it more efficiently.

I don't need anything from the trolls. They don't add anything to the discussion. There is no reason for me to even let the negative opinion be expressed, especially this thread is not a "public opinion about me" thread. Also many here don't have any reverence or even manners. Why am I doing it and pouring $1,000s per day to the forum? It is for the readers. You trolls are enemies of the readers, so you desire to be deleted.

If somebody does not understand the fact that even writing this clarification post cost me about $1,000 of my time, he is very much free to go and search for wisdom elsewhere.

Also I hope that nobody is offended if I delete a "good" post from the thread, just to keep it more easily readable for mobile devices (for example if your post was quoted in full, it will appear many times, and I cannot edit posts only delete them, so I delete the original) etc, or if I do not answer some question publicly or do not reply to a PM. (But feel free to be offended if you like, this is currently the only way to keep it working and it will stay this way.)