Well to be honest, 100% swings in a day are TERRIBLE for a means of exchange. Price stability is very important for exchange. If you can't even worry about buying or selling because you are worried that your bitcoins will change in value in a day or week it is bad news. I dont think bitcoins primary function is a store of value, so that doesn't bother me. I would much rather have them stable and at $5 then swinging between $50 and $100 all the time.
I agree with this. The problem is, if the price is $5 then the economy is non existent. As much as I love the idea of bitcoin, I feel that it have to face very strong established forces which will always drive the price down. Let's say we have a p2p exchange - or a better exchange without mtgox problems, there would be massive campaigns against BTC driving it's price down no matter what. |
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We will be back through $100 before the end of next week. Mood changes fast in bitcoinland.
Well, people have been bitten in 2011. They got fucked in 2013. I'm not sure anyone will be interested in it. I'm starting to see that the average person does not care if their system is unjust or flawed as long as he/she has food on the table. |
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We already know that the product isn't going to perform as advertised, but lack of competition means that people will forgive that. Nobody else is mass producing ASICs at this point. BFL may have to lift their game when other players enter the ASIC market but until that happens they have a virtual monopoly on ASIC sales.
As with everything else Bitcoin, it's not a great idea to spend more on ASICs than you're willing to lose.
I agree with this. I get the feeling a few people overextended them selves a bit on this. A very logical reaction ensues. Feelings of intense stress and severe buyers remorse. Guys, relax, everything is going to be OK. Things are never as bad or as good as what they seem. The universe is not fucked. Its just a matter of perspective. I know, you cant wait to get your magical money printing machine from the future, that prints money....but its a bit of a complex process to make magical money printing machines from the future. In the mean time, maybe get out side, walk your dog, de-stress, breathe. Either way, its going to work it self out soon. At least we have some sensible people as well.  |
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I'm with the OP.
I've been waiting since 09/12... I could have asked my money back, but decided to wait this out.
I cannot understand people who are angry with BFL without even having an order with them.
Is your life so dull that you get upset about things like this? ;-)
The choice is easy:
If you ordered but uncomfortable with the long wait - then ask for a refund.
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I'm just getting familiar with ripple.
Does anyone know if it worths to trade BTCs on it?
I have to read up some more, I'm not sure how to top the wallet up with funds (GBP, EUR).
I would be interested in other's opinion.
Cheers
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Even more critical 1000x question is: Can the protocol handle it? And if it can when does the limit come.
Exchanges are an issue, but it should solve it self as popularity increases.
That's the point. The forces behind the attacks clearly want Bitcoin to fail. Popularity means money entering the economy -----> higher price ----> higher market cap. If they keep attacking and abusing the only weak spot (mtgox) they will be able to keep bitcoin separated from the crowds. Mtgox could easily implement protection against malicious trading activities. I cannot understand why they don't create simple rules. (trading frequency per user, etc.) |
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 I have not seen anything like this before |
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I'm starting to appreciate the idea that humans are not intented to be free / unregulated. |
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what about bitcoin-central did anyone used them in the last 12 hours?
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I wonder if it is safe to use bitcoin-central?
I can't seem to find updated information on the status of them. the orderbook seem to be working though.
cheers
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The money pipeline analogy might make sense if the market hadn't already nosedived. That doesn't look like too much money moving into the market to me.
What do you expect from the userbase when it shits itself in panic when significant lag occours? The market needs to evolve/improve. both on the user's and service provider's side. |
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tl;dr version: no, it's not good to have a torrent of the blockchain, because it leads to centralization (who to trust for the torrent?). Also, blockchain is updated regularly, so the torrent will have to be changed quite often, which causes it to loose all seeders.
In fairness, he said "torrent like". My understanding is that the default client downloads everything from 1 other client. A better (torrent-like) process would be something like Download header chainGet 100 header hashes from each other node you are connected to - You need to do this in order -- ask first node for 100 hashes starting at block 0 -- ask second node for 100 nodes starting at 100 (you need to send the hash for 99) -- ask next for 100 more etc When you have a set of 100 header hashes from a node, you can then ask the node to send you the block headers in full. When downloading the 100, you can verify that they make up a chain. The result is that you get lots of 100 length sub-chains. You then have to merge them and make sure they form a chain too. When a node has sent you the 100 block headers, you can ask it for another 100. This gets you all the block headers Download blocksNext you need to download the blocks. Again, ask each other node for blocks in groups of 100. When a block is received, you can check that it matches the header for that block. Verify blocksOnce you have all blocks that occur before a given set of 100 blocks, you can then add them to the verified set. This requires checking all the encryption. This is apparently, the big processing bottleneck. This. I didn't know that it downloads it from 1 other client. :S it's not that surprising to have 1+ days download time now. What is the status of the fix? has it been considered to make it better? |
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here we go again. people are like sheep. They need the master to tell them what opinion they should have. Mainstream media spreads bubble, and we have a degraded community where most of the topics has at least 1 lunatic who says it's a bubble Who the f cares? |
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I wonder if it would be possible to make the synchronizing process faster, using torrent like services for example? I would provide server space for it if needed (I'm sure a lot more volunteers would show up).
I just set up an offline wallet with a presistent knoppix linux, but the sync run for about 17 hours and completed only 76% so far
The network connection is completely fine, getting 50mbit on speedtest.
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I would start to worry if the price stopped the rapid growth for now (corrections are normal)
Bitcoin is a very useful protocol (and proved to be working brilliantly so far). In my opinion the speed of growth matches the adoption rate of other significant technological products/advancements.
Some people look at this from a false perspective based on old, completely different experiences. They tend to lobby everywhere that it must be a bubble. As they are quite loud, I must say that they bring down the quality of most of the BTC forums.
In my opinion the price is not as significant as some people here try to describe. It's just expresses how big the BTC economy is relative to other currencies.
"The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.
George Soros
2 of my scenarios are:
1.) no fundamental flaw in the protocol = rapid growth, with many corrections.
2.) fundamental flaw found = a real crash to zero
Fear-mongering is pointless.
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Mining works, but website is down.... :S
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As a musician myself, I have to say that I find it very interesting. If I ever have an album or other purchaseable material, I'll definitely try to sell it for bitcoin as well.
I am thinking... how well would a bitcoin-driven on-demand CD-selling website do?
I would lean towards digital distribution instead, but you could offer physical mediums as well. . Getting some bigger names accepting donations/payment would be brilliant. It could be implemented for street musicians/artists too. And I don't think it would be too complicated with QR codes for example. |
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As per the subject, I think it would be beneficial to present bitcoins to the more enlightened artists.
I would love to support some of my favourite bands via BTC through donations and purchasing content
I think adopting it would be beneficial both to the artist and their fanbase.
What's your take on this?
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buy/purchase bitcoins:
venni bitcoin-t
or
vásárolni bitcoin-t
----
bitcoin for sale: bitcoin eladó
-
hungarian
I would think that most people search in english for bitcoin, or at least that's my experience. In my country there's not much to read about btc in our native language
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"1200USD" for a porsche...nice deal (for both of you) |
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