It will certainly not drop below 10 before next week. The buyers are strongly in control, as the bank holiday hinders the delivery of merchandise to the exchanges. When the influx of dollars to be sold resumes on Tuesday, we will see some serious action to the downside. I don't think 10 will hold for long. In general, I see that the only thing that hinders the crash from accelerating, is the inability of the exchanges to clear enough dollars to be sold.

That is a minimum economic quantity, since the setup with the dies etc. costs about $500.

Me also - no problem with anything. Except that the price does not warrant either buying or selling, and that is boring 

Minting in a regular private mint is not too expensive.
http://www.hoffmanmint.com/

For $1,000-$1,500 you can get 10,000 custom minted tokens.

Do you believe I should deposit $10,000 or a similar sum with Bitfinex to be lent to leveraged longs? Any idea of risks? What can be the effective return (nominal return seems lucrative)?

Yeah, you are so amazing. Although it was particular to the big one. In other exchanges 13 wasn't breached, and it didn't give support anyway. Now we are back to 11, because the cold-blooded panic sellers have again taken the upper ground. My asks were filled and I am happy.

The top reason, as molecular suggested, is to enable instant lock-in with the price of customer's choice. Any other ways to enable this, require upfront investment of thought or money from my part, which I don't want.

If this one doesn't look like crap, what does?
http://www.tulving.com/

Yet it is probably the largest coinshop in the US, with sales in $500 million range per year.

Also the company that is selling the maples in this thread, has cumulative sales of several million and has never had a website.

People care for different things and I want to cater to people who want effortless order process, cheap prices and quick delivery.

The cold-blooded panic selling is always a prudent choice of action in this market. I would say the rally stalls at 12 maximum though. I have sells spread out in the range of 11-12 based on this idea.

not an announcement (yet), just for discussion:

Bitcointalk Prize on Economics
<-replace 'Economics' with something else when somebody has a burden to establish more prizes

The prize has 4 classes.

Platinum
Gold
Silver
Bronze

The prize will be given for merits in Economic thought, as expressed in Bitcointalk Forum posts. The Prize Committee oversees the Prize Fund, which accepts donations if needed. Prize Committee must consist of at least 3 and at most 7 individuals.

Silver Prize
will be awarded monthly.

In April, for example, the Committee awards the March prize as follows (days are days of April):

1. Nomination period begins. All established members of the community* are eligible to nominate a member of the community for the prize. Nominations must be done in different threads titled accordingly. The nomination must include sufficient quotes for the nominee's last month posts that establish his wisdom concerning the subject matter. These threads are open and anyone can add quotes that further support the nominee, discuss etc. If more than 5 people are nominated, further nominations require 2 established members backing, after 10 people, 3 members etc. An established member may only nominate or support one member.

7. Nomination period ends and no more can be accepted. There may be polls/popular votes for sorting out the nominees' contributions, etc. The idea is that as many as possible would contribute to the process and consider the economic thoughts of the nominees as the jewels of all the produce of the past months, and learn from them.

10. Deliberation period begins. The supporters of nominees, must have compiled a Nomination Letter for the nominee. It must contain a maximum of 100 lines of quotes of the nominee's posts in the last month + the necessary context, in case that the posts are not stand-alone but rather an integral part of a debate. The Committee has maximum 4 days to deliberate, to whom the prize should be awarded.

15. Silver Prize is awarded to one of the nominees. If the Committee finds it best to award multiple prizes in case of exceptional quality of the posts, or no prizes at all, due to poor quality, they may do so. They also have an option to award one or many Bronze prizes for close runners-up.

Gold Prize
will be awarded yearly in January for the last year's contribution. Everyone who was awarded Silver Prize during the year is automatically nominated and no one else is eligible. Otherwise the process is similar to the Silver Prize award. The Committee must not abstain from awarding a Gold Prize but may award several.

Platinum Prize

This may be awarded for exceptional contributions and the member must have at least 2 gold prizes before this is possible.

Prize amounts

Platinum Prize = BTC100
Gold Prize = BTC10
Silver Prize = BTC1
Bronze Prize = BTC0.1

The proportion of prizes awarded should be 1 Platinum per about 10 Gold, per about 100 Silver, per about 100-500 Bronze. The members of the Committee have a quota of one Bronze Prize per member per month, for instant award. The appropriate animation must be selected with which to do this in the middle of the discussion.


* Established member = Logged in for 100+ hours, 250+ posts, 6+ months.

I am no bear, but I paused...






...and decided that this is big. So far the biggest I have seen is a United Nations organisation taking payment in bitcoin. We are just waiting for a full-scale acceptance by the taxman, then it is pretty much done.

I have an equally lengthy explanation for that but let's cut it short: I am a moneychanger. You can use fiat or anything if you like, and you only need to pay a premium that equals my cost of selling that fiat or item, and transferring the value to bitcoins. Because at present, fiat is depreciating rapidly, I will probably offer you rather "bad" terms compared to these ones, which are very competitive.

It is called diversification, which ultimately derives its importance from the theory of personal non-constant marginal utility of wealth.

It is generally agreed that the likelihood of silver losing more than 50% of its purchasing power in one year, is very small.
It is generally agreed that the likelihood of cash losing more than 50% of its purchasing power in connection with the above, is even smaller.
It can be postulated that if both of the above happen, the likelihood of anything holding its purchasing power, is small.
Bitcoin can be that anything, and it has done incredibly well, and will continue to do so. However, the likelihood of it losing more than 50% per year is rather large.
----------------------------------------------------------------------------------------------------------
Conclusion: For a person that possesses an average, non-constant, marginal utility of money, it makes sense to construct a portfolio of assets, which offers nonzero, positive future value in as many as possible different scenarios. This may consist of bitcoins, silver, cash and other assets, in proportions deemed satisfactory.

I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday.

Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road.

I agree.


LMAO. I am willing to write PUTs for $50 expiring Dec 2013. How many you want? What price?

+1. Me too!

How about we name them after how many satoshi you get for one US dollar:

Now you get 1,000,000 satoshi = millionaire-era
In 2012 you got 10,000,000 satoshi = multimillionaire-era
Before 2011 bubble you got 100,000,000 satoshi = 100-millionaire era
In 2010 after MtG opened, you got 1,000,000,000 satoshi = billionaire era
In 2009 until about the Pizza, you got 10,000,000,000 satoshi = multibillionaire era.

This puts the biggest holders in the category with today's richest (public) people on earth. Just wait 

"Gentlemen, we are the new wealthy elite" 

LOL chart ends in 1. June 2011 

$100 is the new $1.

Seriously. You have to be blind to not realize the similarity. We are in for a 2-month consolidation. And then...  (I wish there was the cigar-smoking smiley out there)

Proudhon is a joke, nobody would write 3000 bearish posts if he wasn't involved. If he was involved in shorting, he would have been out many times and lost all his money. So he is involved in being long. When did he begin in the forum? Yes, April 2011. I assume his average entry point is $1, which means that in the minimum, we are looking into the eye of a llama who owns 1000s of bitcoins. There is no upper limit but I would believe he owns less than BTC25,000 by statistical analysis.

So let's continue playing the game with him, and not analyze too much 

  Congratulations!