Oh, did my posting a chart of factual reality offend you? What would make someone offended by facts? Do you have something you want to admit to us of why that chart offended you? Are you ashamed to admit it? I guess you are. This is a common theme with you. All of your posts are far leftist, ultra politically correct in nature. This is the Bitcoin crypto anarchy forum, not the Karl Marx institute of higher learning. If you're going to continue to try and push your mainstream media ideology of fraud and lies, you should find another forum. Maybe MSNBC, Huffingtonpost, or Goldmansachs forum.
Offended me about as much as someone posting a chart of MLB batting averages on a thread about coffee grinders. You obviously know nothing about me, and don't care to find out, I'm OK with that. Oh oh... Bitcoin terrorists enraged, coming to get me. Any time left for me to plead, in tears, on my trembling knees, for mercy? I'm scaird  Another JIDF, Zionazi, central banking shill spammer. http://www.youtube.com/watch?v=WlyL2r2j7VQAnother december 2013 joiner, what's with you guys? I realize you lost some money, but jeez, no need to spew your projected inadequacies all over us. Looks like someone is offended. If you don't want to be offended, tell your govt financed, JIDF shill friends to stop making 100 spam accounts per day on the Bitcoin forum. Did you ever think for a second, that they might, just maybe, gain personal satisfaction from laughing at you? And that's all the payment they need? How about you stop paying them? See? No scary shape shifting joos involved.  Edit: Choo Choo |
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If our resident r0ach didn't have such an illustrious history of investing in Dogecoin, Catcoin, and even... Corgicoin(?), I would have pinned him as a relatively advanced form of lambie trolling.
Sadly, it appears he is quite real, quite butthurt, and will continue working tirelessly to shit up this thread while making veterans cringe and newbies blush before they close the tab.
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It was a rather surreal experience.
I first learned of bitcoin sometime in October or November 2013, when Rick Falkvinge (founder of the Swedish Pirate Party) tweeted that he was putting all his savings into bitcoin ("but this is not investment advice"). I did not pay attention at that time. Then he tweeted again about bitcoin while the big crash was in progress. He was furious because, halfway through the crash, MtGox's ticker started replaying the same trades over and over again. (I never found out whether it was a bug, or an intentional desperate attempt by Mark to stop the crash by posting fake prices.) That is when I started digging into the topic in earnest. (I had just given up on following the Fukushima accident, after i learned that the data I had been plotting and studying for 3 months was totally meaningless readings from broken instruments. Perhaps I needed some other disaster to fill the void.  ) Later still, in December 2013 or early 2014, Rick wrote that he had a six figure amount in euros locked up in MtGOX, which he was unable to withdraw. I gather that he managed to withdraw some of it eventually, before MtGOX folded for good. Yet, last time I checked, he was still positive about bitcoin. There is a man of strong convictions... People saw the entire financial system basically implode under its own weight and rampant mortgage/debt security fraud in 2008. They watched as governments scrambled to postpone the inevitable by printing and injecting trillions of dollars (mortgages against the productivity of future generations) into the very entities that made it happen while profiting from it. Last I checked, people are still using those same (further debased) FRN iou's... strong convictions. Now, if the Bitcoin network magically issued 600k coins to bail out the creditors of mtgox, while diluting the value of the coins held by people who didn't keep them in an obviously failing bucket shop, and got Karpeles a massive bonus in the process (and maybe giving pirateat40 commit access to the github)... we might have a good analogy. |
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Hope you get what's coming for to you...
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I don't think so... but if the price soar high again, reach 1000 USD or more, then there's a chance... or if you are lucky enough, invest it then most probably you will be a millionaire in 2020 Well, $1000 would get him to $100k... so 10% there. As for these "investments"? Doesn't involve 40 pirates or mavros... right? |
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Wait at least until merchants/payment processors dump the Black Friday coin.
This. no. Bitcoin merchand use tiers payment processor ... and it dump immediatly to create no gaps between fiat instant value and bitcoin instand value. "instand" however... About 749,000 results (0.30 seconds) Including this portable, and handy unit... Because who wouldn't want their personal computer teetering precariously on a mic stand?  Loool! This made my morning haha! --- If you plan to hold long-term, it's better to just average your spendings on bitcoins rather than buying in one instance. hory shet... they also make a convenient "bagholding accessory(!)", the Bag-Mate™.   |
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We must need to support CORE for the BITCOIN long lasting future. If any changes needed, they must be implement with the Core. If we encourage third party wallets like XT, Bitcoin becomes Altcoin.
Amen, must be implement with the Core. Down with third party wallet. |
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 Ahh, 'nother hit of that china white organic growth. |
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Our secret weapon, with no known antidote... badger nlc with jjg, until the will to continue is lost.
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As mining gets less profitable, the cheaper way to acquire them becomes the market, which adjusts incentives accordingly. this is the mechanism that puts the effective floor under the bitcoin price. And as long as difficulty keeps rising and halvings keep going the floor keeps rising  It's like a ratchet mechanism, speculators bid it up, miners chase the profit and expand operations, difficulty rises, new floor cost<=>price rises, price drops back to floor cost, miners buy at market, speculators pile back in, miners expand, difficulty rises, rinse, repeat. This only happens in the face of demand for the product. Block reward is Bitcoin's manna... to be consumed while the network grows to eat everyone else's lunch. Let's hope we get some action on capacity in 2016, additional capacity from multiple angles. |
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Above $300, plenty of gear will be profitable post-halving. And if it isn't... it will drop off, but not faster than what is corrected by the adjustment window. As mining gets less profitable, the cheaper way to acquire them becomes the market, which adjusts incentives accordingly.
I hope so. And people say things were OK last halving. But I think I noticed in the data that the block time did lengthen out for a while after it happened. I'll have to run the numbers. GPU days, pretty sure I ran at a nominal loss for a while there, harvesting heat to compensate. What's old is new again. At least the field was a bit more level back then for the little guys. GPU rigs actually took some maintenance, even if it could be streamlined with scripts and pdu's with ip control. |
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The mining game is pretty simple on the macro level, either the price goes up, or mining power falls as reward decays. The idea that a big group of miners will shut off their machines around the moment of the halving is cute... but I think there are so many variables at play (efficiency, power sources, selling of machines to the public) that any shift will be smoothed, and the difficulty mechanism will do its job.
Above $300, plenty of gear will be profitable post-halving. And if it isn't... it will drop off, but not faster than what is corrected by the adjustment window. As mining gets less profitable, the cheaper way to acquire them becomes the market, which adjusts incentives accordingly.
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heheheh
#gavinREKT #1MB4EVA #LOIC #replacebyFIST #forkOFF
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Wait at least until merchants/payment processors dump the Black Friday coin.
This. no. Bitcoin merchand use tiers payment processor ... and it dump immediatly to create no gaps between fiat instant value and bitcoin instand value. "instand" however... About 749,000 results (0.30 seconds) Including this portable, and handy unit... Because who wouldn't want their personal computer teetering precariously on a mic stand? |
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Think it through again champ. Mark was missing 600k btc. Closed banking channels meant that no one could withdraw via wire transfer, but they could withdraw btc. He was buying real btc with fake and/or customer money to keep btc withdrawals working. This having a negative effect on exchange rate is ridiculous... until the scam came crashing down of course.
If Gox coins really were stolen, and the thief dumped coins for cash, then how is Karpeles pumping by buying a smaller amount of coins with customer funds to enable withdrawal? It would be a wash or probably negative movement from him not buying as many as were stolen. The only way Karpeles is pumping in that scenario is if the "thief" didn't sell any. Who would steal $200 million dollars in goods and not sell any? We have no idea really when the theft occurred, it could have happened as early as 2011. It could have been liquidated at much lower prices. One thing we know for sure, a criminal clever enough to waltz off with 100's of thousands of btc, would not be trying to sell them on mtgox in the late 2013 bubble when there was no way to get the fiat out. People frequently will assert that Gox shenanigans caused the BTC market to go in one direction or another, yet neither is really clear and unambiguous. I'm not saying Mark's scrambling to stay functional caused ALL of the movement of that rally, China was obviously a factor, their relative effects are difficult to ascertain and quantify. In the end, it appears pretty clear that Gox did increasingly engage in a kind of fractional reserve banking of bitcoins to be trading coins that it did not in fact have in its possession.
Yes. So a bot created pumping is one thing to cause the price to go up, but a flooding of the market with non-existing coins, is another thing that causes the real price to go down....
That's the problem, people were withdrawing coins, something that can't be done with "non-existing" coins. Hence, the reason he had to "buy" them at almost any price (and entice people to deposit more coins in the process.) |
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Think it through again champ. Mark was missing 600k btc. Closed banking channels meant that no one could withdraw via wire transfer, but they could withdraw btc. He was buying real btc with fake and/or customer money to keep btc withdrawals working. This having a negative effect on exchange rate is ridiculous... until the scam came crashing down of course.
If Gox coins really were stolen, and the thief dumped coins for cash, then how is Karpeles pumping by buying a smaller amount of coins with customer funds to enable withdrawal? It would be a wash or probably negative movement from him not buying as many as were stolen. The only way Karpeles is pumping in that scenario is if the "thief" didn't sell any. Who would steal $200 million dollars in goods and not sell any? We have no idea really when the theft occurred, it could have happened as early as 2011. It could have been liquidated at much lower prices. One thing we know for sure, a criminal clever enough to waltz off with 100's of thousands of btc, would not be trying to sell them on mtgox in the late 2013 bubble when there was no way to get the fiat out. |
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Two years ago today when we crossed into 1k territory. Unfortunately, as we were later to find out, that was 1k GoxBux
Since nobody seems to know how many Bitcoins Gox actually had, it's still possible that instead of pumping, Gox might instead have had a negative effect on the market by selling more coins than they owned (shorting). Yea, they're buying and selling with customer funds, but that doesn't mean they're pumping if they have 600k coins in liability on the books and only had 200k coins. They would be naked shorting like Blythe Masters and silver. I haven't really seen any good summary of Gox liabilities vs assets over time, but if there's always more liabilities than assets, they're naked shorting! Think it through again champ. Mark was missing 600k btc. Closed banking channels meant that no one could withdraw via wire transfer, but they could withdraw btc. He was buying real btc with fake and/or customer money to keep btc withdrawals working. This having a negative effect on exchange rate is ridiculous... until the scam came crashing down of course. |
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