This is the solution, not the problem. It allocates the resources most effectively:
- The affected receive bitcoins directly to them just hours after the crisis, from private donors. P2P
- The material relief takes longer, but if it is allowed to go to the areas and sold at market price, all will be fine before a week has passed.

Hehe, who would accept fiat in exchange for delivery of silver. If they don't have BTC or silver, they better have gold. Lots of it  

Charity is a flawed concept. In most cases it resembles government.

Everything is better organized by open market. The current system of socialism greatly aggravates suffering in crisis situations, because the incentives are twisted exactly to the opposite than what they should be:

For example, in times of crisis, businesses may have to give away their emergency supplies to the government, or to sell at rationed prices. Hoarding is discouraged, you may even lose your life if you try to defend your property. Yet, these businesses and hoarders would be in the very position to make the whole "crisis" a non-issue if only they would be let to operate normally and property not touched.

Because private preparation for crisis is discouraged under the laws that "it will be confiscated anyway", government has everyone at their mercy considering the most vulnerable supplies. Well planned. Hope as few of you as possible burn in hell.

That makes me sad, she just wants to help 

December update for the table shows that 0.3 million BTC are distributed from the holders of BTC100 or more, to those having less. Also there is a great increase in the number of bitcoin users. Prior mistakes are corrected.

3. Dec 2013

#People	#Bitcoins	#TotalBitcoins
47	BTC10k+	3.5M
880	BTC1k-10k	2.6M
10k	BTC100-1k	3.0M
63k	BTC10-100	1.8M
210k	BTC1-10	0.6M
350k	BTC0.1-1	0.1M
350k	BTC0.01-0.1	0.0M
210k	BTC0.001-0.01	0.0M

Total: 11.6M bitcoins

1,200,000 people own bitcoins that are valued at more than $1 (BTC0.001 or more)
280,000 people own bitcoins that are valued at more than $1,000 (BTC1 or more), up from 120,000 last month
930 people own bitcoin that are valued at more than $1 million (BTC1,000 or more)
1 person owns bitcoins that are valued at more than $1 billion (Satoshi, estimated to be BTC980,000)

Changes from previous month:
- Bitcoin total number adjusted to account for increase in money supply
- Thoroughly re-engineered the number of bitcoin users from original data of the userbases of several services + blockchain usage. This shows that the last month estimate was probably too small, and perhaps 50% of the growth in number of users can be attributed to correction of a previous underestimate.
- Corrected the highest bracket a little bit (BTC0.6M ) upwards because it was over-corrected downwards last time. Number of holders in this category went down a little but we have better estimate of the holdings. As this is a base case model, we do not assume large, completely anonymous entities without at least circumstantial evidence of their holdings.
- Number of people in each bracket behaves according to binomial distribution as found in another data with the parameters: total=1.2 million users, highest bracket=fixed, #of_coins=fixed.

As a result:
- Bracket 1,000-10,000 saw the greatest loss -20%, bracket 100-1,000 lost 10%. Sub-BTC10 holdings gained a lot.

There are already about 1000 people with bitcoin holdings of over $1 million. We are the biggest piece of evidence. Month ago the number was barely 150.

Well, induce is a strong word. I was just - umm - thinking that it would be good for Bitcoin to have a smaller crash from lower levels, compared to a deep one from high. In addition my own position was aligned to profit a little. Then the time seemed right, and indeed there was some action. I could several times sell at the local top and buy back at near bottom. Not to profit on anyone's expense, of course! Far be that from me.    Everyone benefits when the bubble is pricked every so often. "Prick", how did that come to my mind. Ahem...   The operation wishful and feeling-based daytrading ended up making a small gain only, since the buyback target was not reached, it was only a swing here and there and mainly everything was hedged from China anyway since they did not crash much at all. In another thread I said that I made only BTC15, but that is probably a gross understatement like almost everything I say. Mommy told that you should not disclose your true wealth and power (funny to say that to a 5-year old). I have sticked to the advice, although it constantly angers me that teenagers piss on my shoes. When I was a teenager, everyone else in BBS's was max 20 also, so it was more equal. One guy had 18" loudspeakers, he was my idol. But he was 28 and prolly had a job.

EDIT: Or a rich dad. I never asked. Those days we had a respect towards wealthy people. Or maybe I was just shy to approach him...

I am confident and my wife is pretty.

This is getting interesting. Hopefully they have a plan B for a large cash purchaser of physical silver. Otherwise there'll be fun in the exchanges  

We could not take it down any more (-30% was not enough). I think that the odds for an immediate crash have greatly diminished.

Now it is sideways from here, or up (with the possibility of crash from higher levels).

Turned bull. Ugh.

Just a quick note: My wife wanted to send some relief to Philippines disaster victims. It happened that the mediating organization is based in the U.S. and therefore accept USD in a U.S. bank. For some weird reason, international wires that used to be a standard in online bank (at a $37-$74 fee of course but still) have recently been disabled so that you need to go to the branch office to physically fill in the papers. Last time I had to do this was when I bought some bitcoins from Goat, it took about 3 hours total. Luckily we don't live in the rural areas - even 100km distance from here (heart of the capital of Finland) it may be that your nearest bank is 30km away.

After the money is sent, it will take an equally time-consuming journey to Philippines, and lose its value in fees, conversions and even inflation. Meanwhile the long delays make sure that the disaster victims have to suffer before the aid reaches them.

I hereby declare that I will not donate anything in other currency than Bitcoin anymore. I will not trust my money to anyone who does not understand Bitcoin, except when his life is in immediate danger.

This is in addition to the refusal to use anything except Bitcoin in internet purchases.

I have to say that I don't know where the exchange rate is going. Every day above $1,000 strengthens that as a new base, and:

1. We might have a period of relative stability for days, weeks or even many weeks (see 2010: fast runups followed by plateaus).

2. We can also go overdrive, followed by the real crash.

3. If we go south from here, there seems to be a lot of support and $500 can only be achieved by not letting buy orders in while enabling sell orders (an insidious trick from Mt.Gox in April 12). Not breaking the weekend low ($800) is a sign on confidence, otoh breaking it can lead to flashcrash towards $700 but hardly lower since the exchanges are full of fiat.

This is different than a blowoff top scenario (numbered #2 above), where price rises faster than new fiat can be pumped in to the exchanges and when the crash comes, all fiat in the exchanges belongs to the sellers who are unwilling to buy except at much lowered prices.

Can't give any percentages right now 

All figures can be downloaded from Bitcoincharts.



During the flashcrash, I net increased my BTC position by about 80,000mBTC. Still well prepared to any scenario. (Is there anyone else that handles position management professionally/systematically (as opposed to feeling-based)?)

Also I increased my total position by abt 15,000mBTC, learning how to arbitrage. I am getting better at it. Roni is having a work trip in China/Thailand so I handle the desk myself. Now I am also in the position to buy/sell large amounts internationally with hefty commissions to those who do not trust or cannot use exchanges. Customer sends first. $50k/BTC50 min.

If a large fraction of BTC users will start to corner physical silver like they now corner altcoins, there will be a real short squeeze. The investment silver net flow is like +100Moz/year and cannot be increased by increasing the price. It is about the same as BTC net increase (mining) this year.

Wohoo! BTC is as big as silver. But the squeeze in silver is coming, my mentors have explained that.

Now THIS is fun. 

Walls observed.

Bitstamp <900

OK, perhaps I tell more later.

Yes.

Bitstamp is bleeding.

What is the "time of donation"? It was promised when bitcoins were $10.

If that is BTC1,000, I have knowledge of larger ones.

No intention to discredit this, of course