They've stated they are going to start shipping Jalapeno's next week and maybe even a few to developers this week.  As that is the only model they have boards for that they can power ATM.  They state they will have the boards for the SC soon and they should start start shipping in a couple of weeks IIRC.  The chips are now rated to use a lot more electricity.  As Josh@BFL quoted us $20 a month for hosting each SC I don't know if he has revised this figure.  He has not stated so or contacted me about it.

I know, the UK is part of the SEPA zone it should take a similar time and cost for a SEPA transaction in the UK as else where in the zone.  I know they have to convert GBP/EUR but that shouldn't be too expensive as all big money transfers is basically just binary and not the exchange of actual notes and coins.  The more stupid the banks are like that the bigger a benefit for bitcoins even if it makes it more expensive as a whole to buy bitcoins in the UK due to the costs of international arbitrage.

If you look back the 1980's there was a limit on the amount of money you could take on holiday out of the UK.  The current situation is probably in effect due to the legacy of that monetary policy.  Until a similar time you wasn't even allowed to buy physical bullion you needed a coin collectors license. 

Yes but this is the (price) speculation sub-forum and this post is about the bitcoin price (value) not about the values of using bitcoin its self.  I've been very interested in bitcoin since I first properly heard about it in 2011 and litecoin since its inception.  I was suggesting the potential low (price) of bitcoin this year and that would ever be reached again.  If the price did drop that low it would only increase my purchase amounts.  I've been with bitcoin since ~$5 and to floor at $30 two years later would still be a healthy above inflation growth.  For the record I expect another major and even bigger rally about six months after the next block reward halving if the network continue to grow for bitcoin over the next four years as they have done for the last four years.  Followed by a correction again.  Also that floor price is about as low as I think is possible at all to be ever reached again and even then it would take some major amounts of bad news.  Or for the growing pains to get even worse yet.


You have to agree tho for people who have been steadly buying bitcoins for at least a couple of years now.  That to see price rises of that magnitude so quickly can cause nerves and to a correction is actually settling.  Unlike the new money that came in on the bubble the price drop is disheartening.  Tho after seeing the 2011 bubble as well maybe more of those who bought in at the top may stay in longer this time compared to the amount of short selling in the months after the 2011 bubble.  I don't think the media will be able to call bitcoins death if the price was even to drop >$20 this time.  I think/hope the price stays $50<$100 for a while before continuing on a stable growth.  As sudden massive price rises and changes are not the best for the whole system to grow.  Even if massive price rises bring lots of press attention and therefore even higher price rises.  The only reason the bubble popped like in 2011 was due to growing pains of the system and not actual failures of the bitcoin protocol

Until big money gets involved then its the centralised (hate to say this) Rothschild anarco-capitalism central driven export wealth to the top system.  This is why the uber-rich are always getting tax cuts (even under austerity) as the wealth trickles down of course isn't it 

Well at least they have competitors.  It's when they all join up or get bought out into a monopoly and start fixing the price (in a un-regulated market) in there favour that we all want to be worried.  Bill Gates or Apple could buy into every single one of them if they thought they could pull a nice big buck.  Is that when we all move to litecoin and so on then.  

They'll always be snake oil salesmen until we only have dominate monopolies.  That's free market (anarco-)capitalism (unless Co-operatives can become main stream [but if you can have Co-operatives you can have monopolies]).

We went below $50 last week, what if this is just the start of the correction.  I know it'd take a lot of real bad news but its possible.  The Bitcoin price was stress tested and it crumbled but the whole bitcoin network is growing larger and stronger all the time.  As well as the powers that be could shut every (major) exchange within a month if they wanted to.

EDIT:  In fact I think the powers that be could collapse the dollar and every major currency within a week if they wanted to.  Then bring back the gold standard after a loaf of bread =£100/$100 if they really wanted.  Tho after the FED becoming the largest USD debt holder above China due to QE to give China confidence in USD debt ffs!

Bitcoin has a place as a digital commodity (like gold/silver) and Ripple has a place of p2p credit expansion if it can take off.  Tho if you look at it bitcoin is for users as Ripple is for bankers/organisers.  I think if both Ripple and Bitcoin remain non mainstream then bitcoin will out live ripple but if both ripple and bitcoin become mainstream then yes bitcoin usage could in effect be a sideline compared to ripples usage in the curerrent fiat world.  Tho IMO I can see either the dollar or the yen pegged to gold by 2020'ish as we're not coming out of this 2008 economic crises any time soon.  These are new times and we've only lived under a fiat world wide banking economy since 1972 (when the US took the world off the gold standard to pay for the Vietnam war [if you ask why I blame America it was agreed after the British Empire collapsed after debt from WWI and WWII that the dollar would be pegged to gold while every other major currency would float against the dollar).

Now I see why "ignore" is highlighted next to your name in bright colours.  If you look at the charts you can see $30 is definitely possible for a good while yet even if the rally where to continue (for a while).  Yes I think bitcoin was undervalued but after the largest bitcoin exchange having to shut down under stress recently then all bitcoin needs is nudging off its pidgin stool to crash.  Although if you look at the post I don't think it'd be a bad thing for bitcoin long term and the one plus two year averages will continue to grow grow against USD inflation via the block reward inflation.  

If MtGox goes offline again (for any time long) or even if Bitstamp shuts down after BTC24 shuting down or any other major bitcoin FUD I can definitely see a floor of ~$30.00 being hit hard.

Yeah but Ripple could really help bitcoin while bitcoin doesn't offer Ripple anything special (borrowed from another thread).

If you look at the exponential moving averages for one and two year time scales you can see a long term correction between $30 to $20 possible -



And if you look at the simple moving averages for one and two years then you can see prices correcting long term to between $16.50 and $20.50 -



Most people (aka the market) thinks bitcoin is undervalued hence the recent rally.  Maybe bitcoin is undervalued but the system as a whole has a long way to grow before it can reach and stabilise above its next major mile stone of market capitalisation above $30Billion (value of all above ground Silver).  Maybe bitcoin will crash and stablise @~>$20 and the media can all call bitcoin a bubble again   but bitcoin will continue.  As like bittorrent there's no real way to really kill bitcoin apart from turning off the whole worlds internet.

BTW:  Give me cheap bitcoins  

Bitstamp is all three that's what the trusted gateways are for and they will be relied upon heavily until Ripple is about as big as PayPal AFAIK and you can call in cash/BTC/whatever debts from trusted peers or trusted local shops for example as your gateways.  

There was only ever really one way to buy coins on an exchange quickly and that was at Intersango plus that only lasted for a few months the rapid deposits until they were shut down for banking reasons.  It's always taken days to get money into MtGox AFAIK especially from the UK.

EDIT:  They has always been a massive demand for bitcoins in the UK.  Before Intersango shut down and MtGox Barclay's stopped, GBP was the second most traded fiat pair with BTC after USD.  The problems in the UK are probably suppressing the average bitcoin price IMO.  If you could get GBP into an exchange with instant free UK bank transfers I think they'd be a much bigger buying demand for bitcoins.  If you could open an exchange like MtGox that accepted instant free GBP deposits (and withdrawals) you could corner at least 10% of exchange traded volume.  Or around at least >£30Million ($40Million, EUR35Million) a month in trade.  It's just the money laundering laws in the UK are so tight that HSBC has to go to Mexico to do it 

No its just UK banks charge extortionate fees for international and even just EU intra-SEPA transfers for UK personal accounts.  You can tho use TransferWise to get money into Bitstamp or MtGox for just £1 but I'm not sure if it works the same for withdrawals.

I've got GBP credits on Ripple, I sold some BTC at Bitstamp then used the funds from that to issue GBP Bitstamp IOU credits.  You can use the p2p exchange built into Ripple to trade any gateways (like Bitstamp) IOU's.  As the Gateways IOU's are trusted.  Tho I can't personally send anyone the credit IOU's until the other party gives me trust for at least that amount but you can trade them on its inbuilt exchange easily.

They're about 2.2Million ATM's worldwide AFAIK IIRC.  So if they all use 100W that's 220MW or 5.28GWh per twenty-four hours against bitcoins 0.982GWh.  Plus that's just the actual ATM and not any of the network servers ect.

I used to do BOINC years ago but I too stopped as it wears and slows your PC down while BIG money is made off some of the research.  As for mining ASICminer are on about bringing out tiny USB powered ASIC mining chip sticks.  There expected to hash at ~600(MH/s) each IIRC and only draw from the USB socket for power.  You could get a RaspberryPi (<5W), a USB hub and start mining cheaply.  Butterfly Labs are offering 5(GH/s) for $274 so a 0.6(GH/s) USB chip stick should be a cheap and the electricity used by the RaspberryPi and ASIC chip sticks minimal.  Tho you might have to wait as I paid for my BFL ASIC last July FFS but ASICminer already have there chips hashing?

Users will loose nothing in setting this up other than five minutes of there time.  As all actual BTC and fiat trading is done off the app.  This app just matches orders and could do with some development.  Although as shown by the (new) Ripple project unless the development can be monetised it's a lot less likely to happen.

Thanks for the heads-up I will check out p2px and bitcoinx but a dark/deepnet p2p exchange is the best option IMO especially as more alt-coins gain momentum. 

Thanks for the simple explanation, so gateway nodes will always be needed to the clearnet blockchain.  I think there's room for an alt-coin where its blockhain solely only exists inside the I2p network.  It could still be used on clearnet sites that acted as I2p proxies.