The trend is more hoarding. Fewer people are selling, the selling volume peaked in Feb and March in a panic at prices below $5. Purchases of ASIC miners are long-term investments made by value investors, they'll buy more coins if price gets low, not sell them to break even. The block reward halving actually compounds the incentive for investors to buy, not to sell.

The ASIC reality is a sign of market confidence and value investment. That is attracting more speculative buying which will drive the price higher. Its a matter of weeks before $7.2 succumbs to the upward trend.

http://news.ycombinator.com/item?id=4177605

The article is #1 on HN ("hacker news" aka ycombinator news) at time of posting. Coinbase is notable because its a Ycombinator startup founded by a former employee of Airbnb, which itself is one of Ycombinator's most successful ventures to date.

Bitcoin articles have been getting bumped to the frontpage at http://news.ycombinator.com more often lately. The #1 article today, for instance (coinbase, because its a ycombinator startup founded by a former Airbnb employee. Airbnb is one of Ycombinator's most successful investments, last raising $112m at a $1b valuation in July 2011).

I buy into good science, it doesn't matter who funded it. The US government (other than funding some science) is doing nothing to prevent global warming, in fact they are doing much to accelerate it. Such as invading foreign countries (which increases the likelihood of terrorism, incidentally) to keep the oil flowing. The oil companies fund the climate change skeptics, but that's corporate propaganda, not science.

Corporate tyrrany is just as harmful as government tyrrany. Actually, its hard to know which is the bigger problem, given the revolving door for power-brokers between government and corporations (public and private). I think the real power structure behind the government is the private sector (eg the Federal Reserve, a private corporation whose board-members are all CEOs of private banks and companies).

Am I still a libertarian anarchist? 

Just want to say that I recommend cypherdoc's subscription for anyone with interest in the general markets and not just bitcoin. He sticks to his methodology: "cycle theory" and its ideal for swing trading (watching for the pivot points: swing highs and swing lows on the different timescales, daily, weekly, monthly, yearly). Its quite a bit simpler than Elliott Wave theory, but not as well known. I also like how it provides relatively solid anchor-points across timescales, not getting messy with too many trendlines like other technical analysis over volatile periods. Links and anecdotes on the macro-environment of debt, deflation and whatnot are just background behind the cycle theory.

Its not easy parting with precious coin each month, but I respect cypherdoc for putting his neck on the line with his predictions, and keeping it there even when the markets go against him. He will admit that he's wrong when the cycles become invalidated. But he doesn't give himself as much wiggle-room as some other analysts, who end up with correct predictions no matter which way the markets go.

I think he has an intro newsletter on cycles, waiting for any new subscribers, to bring them up to speed so they can follow for the rest of the month. He's led quite the saga over the past 12+ months (all but the last three months were done publicly in his threads here), calling a top in PMs, a bottom in stocks, and then a top in stocks. By now, I'm following him just as much to see how he'll respond if/when he's wrong as to know what he's predicting. 

I didn't know who you were talking about and assumed it was one of the bit-pay spokesmodel girls. But when I looked up Mary Ruwart, I learned that she served on the board of a chapter of the Heartland Institute, and concluded that she's a climate change skeptic. Big turn-off, even if she doesn't look bad for her age.

I thought you were talking about the bit-pay model, but a climate change skeptic?! No thanks..

Looks like a lot fun. Though I'd be a little worried about getting into drug-fueled political/religious discussions with people walking around "open carrying"

Good call..

The ask walls are gone again. Did anyone see it? (i missed it)





So $6.22 was the low? Pretty good call if I say so myself..




In an uptrend. Told ya so.

I see this now, tough situation.


Agree. "They" was just one person on the other end of the telephone, not the final arbiter of company decisions. Try back and you'll likely hear something different from somebody else.

Well, I'm not so confident that I would've went long waiting for that pop, since its contrary to the trend. But since the trend is down, I will risk the timing to get a bit of short action.

Same reason I'm not selling bitcoin, selling into an uptrend is too risky for my taste. More likely to buy back higher (not lower).

Not only that, but consider all the investment in these mining rigs. These are different than investments in video cards, which still had some value if bitcoin price sank. These fpga and asic miners would be worthless.

So you can bet any big investors have plans to buy coins when the price gets too low. They aren't using all their money on the miners. They'll also try and buy near price-bottoms to enforce the upward trend, less the long-term miner investments become worthless.

Miners won't earn profits selling constantly at a price higher than cost. They have to hoard and speculate just like everyone else.

Got the squeeze/pop I was waiting for. Time open the short? 

Next time, launch new API's after waking up. Not before going to sleep!

Its not forgery, they were actual transactions. You're providing records of them after-the-fact. Use some invoice forms, create invoices for each transaction over the past 30 days with the corresponding dates. Stores keep their own merchant copies of receipts, they don't ask customers for their copies when its tax time. They only want your copies of the receipts/invoices.

Wow, I actually like is guy now! Hilarious mockery of the paper/physical conspiracy theorists. brotherjohnf even posted this video on his frontpage, the comments are worth a read.

Create the receipts and back-date them. Then you can provide them as requested. It will be much cheaper than a lawyer. $1k is too much to let go.

I'm willing to bet these are all windows users. What will it take to dispel the belief that running an Anti-Virus program protects them from trojans.. Even in the reddit AMA with the botnet operator, the guy said he uses techniques to keep his bots FUD (fully un-detectable) from AV programs. Going after mtgox passwords (or passwords for other bitcoin services) from trojan keyloggers is the absolute easiest way for them to get money, easier than credit card numbers, bank logins, or anything else. Probably wasn't that common last year, but by now it must be the first thing any botnet operator would search for in their logs.