I have a question about GBTC: If you buy a share, can you convert it to real bitcoin? (Maybe it sounds stupid, but I think it's important and not obvious because of this trend with "advanced trading assets" and other shit talk) EDIT: And I support "The List" 100%! That's what I believe too. That if you actually buy a share you actually buy the equivalent BTC amount. I don't have an account there, but I believe there should be an option to get your BTCs out if you'd like... |
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Once more the list is updated today, adding 5 more new sockpuppets. Please update accordingly and feel free to contribute if you see something missing.
Cheers.
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Volume would of been higher but there are no more asks. There's a 1.7 million dollar bid waiting to be filled for $35 a share.
Could that mean that people don't want to sell at that price tag? If so, why the price is so lower in the known exchanges? |
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Just watched "The Rise and Rise of Bitcoin" free on Amazon Prime. When does the "The Fall and Fall of Bitcoin" or, the empire striking back, come out  If the price goes back up then maybe we'll get "The Return of the Bitcoin Miner" for all of us who stopped mining because we're losing money. I perceive BTC mining as an flamboyant idea. This idea incorporates a long promise. You're investing in something that *maybe* will give you back your investment in the future. If you do the (simple) math you will understand that under a certain USD/BTC price, it simply doesn't worth it. More specifically, under the current circumstances all miners are better off buying BTCs instead of mining for them. The prices are so low that you could get yourself a new BTC every month, with absolutely no gear and no sweat at all. Good luck mining for one with your gear. As for the mining centralization worries, I think that it will be decentralized but not because big companies are not getting into the game. It will get a decentralization after the next block halving. The price to pay in order to mine for BTCs is unfortunately tied to the Moore's law which is the most significant aspect of the question: "Should I mine for BTCs?". So, there won't be an "infinite" rise on mining power as there cannot be an "infinite" shrinking to the current IC hardware. So, eventually... decentralization will occur because nobody will spend so much money to get into a game that will deliver "so little", with the only promise that "it will get higher in the future". Of course, I may be wrong and the price of USD/BTC will hit 10,000 or more so this fires up a totally different scenario. But for now; this is the reality. As someone who is involved in physical mining and cloud mining some of what you posted is not true. Using Hashnest as an example. If you purchased cloud mining in the beginning of this year you paid .15 BTC to 1.39 BTC per TH (depending on the type of hashing your purchased) Currently the lower level is worth .212 BTC per TH and the upper level is the same value. The hashing you purchased has gone up or retained its value and you have pocketed the earnings for the last 4 months. The person that did that is better off than the one that just purchased BTC from an exchange. PLEASE keep in mind that the last 4-5 months have been a very different situation compared to the last few years. It is very easy to loose money mining but some people are making good money in mining. We are not all doing it out of the kindness of our heart. Valid point there! I didn't count the cloud mining possibility! As I often say, it's only my musings, and I may be wrong in those aspects you've posted. Veritably true though, the buying part is what a *classic* miner should do at this time period. I really look forward for a good mining contract that works as an alternative though. If you have something in mind, please indulge me. I only care about making more BTCs not fiat. Cheers. |
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Are these the capital controls that's supposed to make greeks look at Bitcoin? Well, its not like the greeks really have heard of Bitcoin anyway. Except in finance minister Yanis Varoufakis' april fools joke. Irony is a bitch! Well, there's a Greek saying that goes like this: "Among the funny things, pretty serious things are spoken" Except you don't believe in "conspiracy theories"... Here's a nice one for you then. If you ask me, yes; I believe that Greece should be the 1st one to incorporate BTC as a second currency. This way Gresham's law will take over and the debt will be eliminated (BTC=Non inflationary, EUR=inflationary). One after another the other -in debt- countries will follow... EU will be the 1st continent to test the new digital currency as it was the 1st one to test the EURO. Too crazy to be real? Remember: Fantasy has limits; Reality has not.  |
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Good luck with that. The most of the capital is out of the country for about 4-5 years now.  |
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Just watched "The Rise and Rise of Bitcoin" free on Amazon Prime. When does the "The Fall and Fall of Bitcoin" or, the empire striking back, come out If the price goes back up then maybe we'll get "The Return of the Bitcoin Miner" for all of us who stopped mining because we're losing money. I perceive BTC mining as a flamboyant idea. This idea incorporates a long promise. You're investing in something that *maybe* will give you back your investment in the future. If you do the (simple) math you will understand that under a certain USD/BTC price, it simply doesn't worth it. More specifically, under the current circumstances all miners are better off buying BTCs instead of mining for them. The prices are so low that you could get yourself a new BTC every month, with absolutely no gear and no sweat at all. Good luck mining for one with your gear. As for the mining centralization worries, I think that it will be decentralized but not because big companies are not getting into the game. It will get a decentralization after the next block halving. The price to pay in order to mine for BTCs is unfortunately tied to the Moore's law which is the most significant aspect of the question: "Should I mine for BTCs?". So, there won't be an "infinite" rise on mining power as there cannot be an "infinite" shrinking to the current IC hardware. So, eventually... decentralization will occur because nobody will spend so much money to get into a game that will deliver "so little", with the only promise that "it will get higher in the future". Of course, I may be wrong and the price of USD/BTC will hit 10,000 or more so this fires up a totally different scenario. But for now; this is the reality. |
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Where can we see complete orderbook? There has to be something like bitcoinwisdom for that  55$ now  thats a pretty insane mark up one regular exchanges.. im surprised its not having any effect on the market.. perhaps over time, more and more btc will be deposited to these ETF's, taking btc away from the open market and locking it away. I concur; I find those ETFs as a "next gen" exchanges that will be able to overcome several problems (ie: liquidity, transparency, "shadow" bots, etc). Plus, these businesses are being controlled for their transactions. I wish what you say will eventually be our future. Bitcoin only has to gain from such a thing. |
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ctnhc
Another for
THE LIST
Don't worry; I keep track for them puppets. For everybody who hasn't heard yet about "The List"... well, you should pay a visit. DecentralizeEconomics isnt on your list. check his post history for reference of why he should be. nice list btw. DecentralizeEconomics is not a troll from what I could judge from his posts. This list is mainly for trolls & sockpuppets. Thanks for the heads up though. Back on topic, anybody has ANY idea why there's so much difference from GBTC to the other exchanges? |
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ctnhc
Another for
THE LIST
Don't worry; I keep track for them puppets. For everybody who hasn't heard yet about "The List"... well, you should pay a visit. |
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This is just in: Huobi Will Now Take Your Bitcoins as Stock Trading Collateral. -- Huobi's new platform lets investors buy real shares on the Shanghai Stock Exchange, while still keeping their bitcoin holdings as collateral. --(Published @ May 05, 2015 at 06:07AM by www.bitcoins.amhttp://bit.ly/1zvWCSm |
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Lets see what happens. Either bitcoin is very underpriced or GBTC users are happy to pay a heavy premium. Dumping into the opening on a Chinese exchange shows the degree of desperation from bears - yes you will have to cover your positions Both are true. GBTC is the only option for some classes of funds (so heavy premium), and bitcoin is underpriced. This is a decent arbitrage opportunity. If someone is really serious about buying BTC, I bet they would be able to buy them on a regular exchange or from some mining company in bulk, even if they preferred an ETF. I know about the advantages and ease of use for people who are already active in that sector, but I don't know if this really warrants a markup of over 55%... This is quite steep! There's a weird chicken-and-egg thing here. Could be wrong, buuuut: a) Assessed market value without publicly tradable funds: $238.82. b) Assessed market value WITH publicly tradable funds: $420.00 ($42 sale price of GBTC x 10 shares = 1 BTC) As soon as the orders placed COULD become filled, the market shifted from a) to b), revaluating it. That is the most optimistic explanation. We're in one of those rare instances where supply or demand is severely pinched. Most actors don't know how to respond...until a trend emerges. Success is far from guaranteed here, but this day ACTUALLY coming can't hurt the bullish scenario in my view. The key IMHO is on the red lined text. I consider the GBTC the first "crystal clear" way for someone to get BTCs and not worrying about losing their money. This would take others to imitate or get passed by by businesses/initiatives like this. I've yelled much too long about the "dark" non-ledgered bitcoin transactions on almost ALL of the exchanges. This has to end. The price will definitely find its way - thats how free market works. For the 1st time, I'm happy an "exchange" is starting its business. |
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More info on the Goldman Sachs story: Circle Internet Financial, a bitcoin start-up led by Internet entrepreneur Jeremy Allaire, said it raised $50 million from investors including Goldman Sachs Group Inc., giving the virtual currency a jolt of credibility even as it struggles to gain consumer acceptance.
Circle said the new group of investors included a major Chinese investment firm, IDG Capital Partners, to help the Boston firm's expansion in that giant market.
“We could not be happier with our new strategic investors,” Allaire wrote in a blog post on the company's website. “They bring unique, powerful capabilities and capital that will help us continue building a new kind of global consumer finance company, one based on open platforms, open source software and ubiquitous mobile devices.”
This is gentlemen? Sources: http://www.latimes.com/business/la-fi-goldman-sachs-bitcoin-20150430-story.htmlhttp://www.fool.com/investing/general/2015/05/03/youll-never-guess-who-is-investing-in-bitcoin.aspx |
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My PNY 750 ti quit today. Computer won't boot unless I remove GPU. Anyone else have this problem or know what may have failed, and/or is it fixable? Thanks for suggestions.
Never had this problem, but, did you try a different pcie slot just to make sure it's not that? Is the card still under warranty? Most possible cause is the PSU (partial) failure. If you have another PSU cross fingers and try it. Good luck. |
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Let's say bitcoin starts a strong bull run this week. Any thoughts on how this will affect XMR in the short term?
I believe that the two assets are not directly connected. In the previous bear run, XMR remained stable, while BTC kept sliding down. I think that many people will seize the opportunity of the current low prices on XMR vs the bull market of BTC in order to take some more XMRs for their stash; and yes, that's what I'm after. PS: I'm sorry for going off topic in my previous post. |
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Everything turns to green. We only have to wait a bit longer to see if the pattern continues to the Monthly averages.   |
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Yes one does have to keep track of all expenses, but that has the added advantage of promoting fiscal prudence among citizens.
That's pretty convoluted logic. Requiring people to keep all receipts when using cryptocurrencies, and then having them meticulously enter all of the amounts and dates into some tax program, and keeping track of every single purchase and exchange rate on the front end, really isn't going to warm them up to the technology. No, they'll just keep using credit cards or cash. It decidedly *won't* stop people from spending money in their usual ways, it'll just stop people from using cryptocurrencies. Pardon me for interrupting, but this is EXACTLY what's happening here in Greece with fiat. There has been an incentive to incorporate a "global" bank monitoring system that's embedded to the tax system as well, in order to ban tax evasion. To make it even better, nothing above 70eur will be allowed to be transacted, from anyone to anyone, without a credit card or bank account being used as an intermediate. Death and Taxes... |
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I bet most of us here want to say that the bear market is over; yes, that included the bears as well. That's because even if you're a bear you definitely want to have your investment at a higher rate than what you've managed to accumulate it. So eventually you secretly wish for the bear market end. Most bears do not own infinite amounts of money; nor IMHO it's sane to obtain HUGE amount of coins. The more you have, the more you matter for the price when/if you decide to sell/collect your fiat profit (or initial investment). Except you're in for the long run (ie: BTC to the moon) so you see; there's no distinction between bears and bulls after all. Profit is what truly matters. |
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I only skimmed through them, yeah. What exactly is your problem with posting that news here?
I don't have problem with you posting ANY kind of news. I do have a problem with personal assumptions of yours though, that are presented as "news". You're constantly doing this lately and it's not sane nor noble. You can actually say "IMHO, ...." before posting it. So; it wasn't about posting the news you posted; what I said was that I have my doubts (rather a certainty) this pump occurred because of the reason you mentioned. (1) 297 $/BTC is not as high as 350 $/BTC at OTCQX, but it is more relevant to this egregious forum, being a quote for real BTC at a real exchange;
Yeah; egregious! WTF serious people like you and me are doing here? Despicable and pathetic!  (OK, rub out the "serious" from me)  (2) If the comments that I read are correct, that ponzi must be about to collapse, that must be the reason why they required that emergency payment in bitcoin. Then soon there will be thousands of South Africans as angry as hornets whose nest has been busted. Bitcoin will be right in the middle of it.
I wouldn't hold my breath on that. What volume are we talking about? about 20? 50? a 100 per day? If it were more, believe me this would have been able to make a difference globally. To present a perspective, the last $20 pump was caused into BTCe, an exchange that has a daily volume of about 4000-5000... |
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