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Question is WHO is promoting this and for what reasons. From a symbologistic perspective it does not look healthy or positive in any way, but like a B stabbed in the back. The currently dominating symbol with the two rays on the bottom and two on top looks much more balanced and 'healthy' - a bit like those images of space-alines on ancient rock carvings… |
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Why these racist statements? Can you pls change over to the respective Ku Klux Klan reddit! All those cruelties you mention have been committed by Western (white) people to huge extents the past 200 years. Burning witches, genocides (e.g. read the history of the Kongo, the Maomao rebellion, war against native Americans, Australian Aborignes, etc.). The links you quote: Would you think the Daily Mail and the BBC might have an interest to portrait Africans as savages during this second wave of (re)colonization that Africa is currently experienceing? Dude, think first and travel a bit more. This helps to get rid of some serious prejudices. |
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Africa? No. Africa doesn't have a good track record at adopting advances in technology or culture.
I counter that. I live in Africa (Tanzania) and everybody is using M-Pesa here, which is in many regards more close to Bitcoin, in how you use it, than you might think. Check it out: https://en.wikipedia.org/wiki/M-PesaIt is used widely in Kenia as well and if M-Pesa would be a bank (it isn't though), it would be the biggest in Kenia. So, in my opinion Africans are quite inventive - e.g. when it comes to recycling waste into new things - and most now also have smart phones in the big cities. If they will adapt a new technology is not entirely predictable of course, same as in other countries. Who would have anticipated Cyprus for instance. |
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It's just awesome to see all the weak hands leaving the market. I didn't think we would see more of it, but just looking at reddit and around here you can tell that more and more people are getting desperate. And thanks for the analysis cosmofly, it confirms that I should wait a little longer before buying moar  That's exactly when the turn around is neigh. If the majority is bullish, sell, if the forums are saturated with despair buy. I have bought some at 476 and have buy orders at 416 and in the mid 300 range. What is holding up the bull market is mostly uncertainty regarding MtGox, but more so China. It's not so much about good or bad news at the moment but uncertainty regarding these two issues. |
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Most of the Chinese volume comes from Huobi and is FAKE volume. So, while China buys a lot and is important, don't trust the numbers!
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No.
What we need is a decentralized exchange.
That is the problem.
Not more "solid players". I know you meant well by saying that. But truly: Bitcoin needs no central points of weakness.
This is the entire reason it was created. And are we shocked that the failures have been in the centralized elements?
They are *always* the weak links in a decentralized network.
I don't know if Mastercoin Foundation's decentralized network invention is what I am referring to, but the days of "companies" owning "exchanges" and creating a "trust" situation needs to end.
More companies is not the solution.
-B-
Decentralized exchange (systems) are not yet technically evolved enough. Though this might be the ultimate road to take, in the meantime it needs more and solid exchanges and clearing houses for BTC. We need exchanges that are well funded and well managed, not like Gox, which essentially grew out of a gambling platform and is run by amateurs. One step at the time. I would embrace a decentralized system but it needs to grow naturally. Also, localbitcoins already is some sort of decentralized exchange and available. |
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this is one of the dumbest fud threads ive seen yet, congrats lol
I love this solid arguments. Why not come up with some? |
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No exchange is 100% pro at the moment.
My humble experience and opinion is that the 3 most reliable ones currently are Bitfinex, Bitstamp and BTC-e.
In all cases I am not comfortable leaving more than 3-5 BTC worth of funds on them for a longer period. Rather withdraw BTC/fiat as soon as you made your trade(s).
Just 2¢…
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Interesting. Is there any exchange that hasn't suspended withdrawals?
Kraken. Super tiny volume, but it works. Bitfinex |
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Panic selling continues.....GOX is about to fall below 500 next stop....100
You're looking at the wrong picture , it's not bitcoin that it's falling , it's Gox. Both wrong. It's the $ falling even faster. And the € and the Yen and the Rupee…  |
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We are doomed.
Why are you so optimistic saying it will be 100 USD? According to my higjly accurate calculations it will drop at least to under 3 USD within a month.
8 $ is a lucky number. I believe all Chinese will buy again only at 8 … or maybe 8 Yuan. |
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I'm genuinely shocked by the sheer number of posters here who don't understand the one fundamental reason for bitcoin's success: decentralization. It's the whole goddamn point. Hence, there will be no applecoin, googlecoin, microsoftcoin, nintendocoin, etc. You might as well go to Disneyland and buy Mickey Mouse dollars.
An Alt-currency is only as decentralised as it is evenly distributed, which in Bitcoin's case, is not at all, but perhaps the problem with Bitcoin in the eyes of the financial establishment is that too many 'wrong types' are owning it. What if what is going on now cumulates in a massive crash in Bitcoin price, and Bitcoin is facing annihilation, causing much panic sending Bitcoin to double and even single digits. Would this be the point where Wall St climbs on board, or is this the point where Bitcoin is killed off for good, and replaced by another 'more secure' pre-mined and/or pre bought out 'decentralised' crypto of Wall Streets choosing. The Big Boys always win. If they can't win with Bitcoin, they will win with whatever replaces it in pole position of the crypto-currency race, and that coin won't be called JPMorgan Coin, Zionistcoin, or 666coin. …your post convinced me to now place my lowest order at 8 $ /BTC. If this gets hit I am confident that the price of BTC will not stay below 100 for a long time. Maybe minutes. Maybe hours. I have no doubts still about the Bitcoin protocol being flawed or broken or otherwise being taken over. Such a crash will (again) mainly be caused by FUD, not by the more 'real' negative news coming from government regulation, etc. One thing I learned is that speed & shock & confusion are the factors that cause really low prices. |
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A good recipe to not be "frozen in fear" - as you will know - is to just gamble with a small percentage of your BTC funds. I am using about 25% to trade and catch lows to buy more.
During the flash crash I had limit orders on Bitfinex for 412 and 534 (not pessimistic enough). They got filled and I watched without trying to mess around. Still my stomach cramped seeing it going down to 100 but I was perfectly sure that BTC was not broken totally, that my main BTC funds were in cold storage and that I just baught significantly lower than I had sold before.
So, point here is that one has to first rick oneself and chain oneself in a way so that monkey-mind has little chance to take over once the action really begins.
A lesson that I learned from previous losses, which were apparently necessary to punch this lesson into the deepest depth of my body consciousness:-)
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b) I no longer trust Bitfinex.
Since I trust your opinion more than most other forum mebers here since quite a time, could you elaborate why Bitfinex is on your personal blacklist? I have been using BTC-e and Bitstamp and then a few weeks ago switched to Bitfinex. I am still occasionally using Bitstamp (to wire money to) and BTC-e (to trade alt coins), but found Bitfinex works better. I had an issue with not being able to use my full funds for orders, but this was resolved in half a day and they also replied swiftly to my email. Of course Bitfinex is not perfect and they had a major problem with one of their partners, but that seems to be resolved and they appear to be very motivated and also have investors behind them. So, are you talking about some systemic issues affecting their owners/team/financiers (a la MtGox) or are you just not happy with their software and platform design? Yes, the design could be better and there should be more documentation… Thank you, |
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Bitfinex already become second largest BTC exchange for USD weighted average. How true is that? exchange volume % volume ฿ last price bitstamp 36.67% 39,255.46 672.0 USD bitfinex 36.06% 38,602.91 675.0 USD btce 26.55% 28,424.78 651.3 USD https://bitcoinaverage.com/markets.htm#USD-nomillibitin fact bitfinex is already the largest exchange... just think about how much of bitstamps volume is due to trades on bitfinex  …but it is not shown anymore as Bitstamp orders since a few days. Does that mean they still have orders routed via Bitstamp and just don't show them for better usability, or did they disconnect from Bitstamp? One thing I could not find out. |
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Insufficient funds bug is fixed (at least for me).
For me as well. Bitfinex replied with an email only half a day later. Good service… |
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I placed some limit-buy orders on the Exchange.
After placing four orders that used up around 60% of my money (if they execute), it says that I have run out of money. I also have three market sell orders for BTC that I already have on the exchange.
I've sent support an email.
Same with me half an hour ago. used about 3 fifth of my funds for limit buy orders, then this message came "invalid order. not enough balance". Had this before already. Sent support email as well. Quite a strange bug … or they are hedging against something in their software without telling us. I don't have this every day and have tried various remedies, like deleting active orders and re-entering them, etc. |
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I had this as well on several occasions and with $ as well as BTC. Over several weeks - and never figured out why?
Some times cancelling all orders and re-entering them step by step solved the issue, sometimes (like just now) not.
This is maximum annoying. Need to place my orders and get to sleep…
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I think the issue we all keep ignoring is the broken trade matching systems these exchanges use. There have been posts from people on btc-e and bitstamp who did not have their limit orders executed even with the price moving through them. The same thing has happened on gox in the past, thats why we see big sells plow down through the order book and the price instantly recovers because of all the missed orders and orders placed during the execution of the large sell. These trade matching systems are broken and need to be rewritten or replaced with real off real off the shelf systems. We get lag in an exchange because of this as well, each transaction appears to be handled on an exclusive or semi-exclusive basis. Momentum locks up the db, limit orders do not get fully filled, traders can not react, market makeing bots can not update their orders, and we get a mini flash/lag crash. We need exchanges that operate like real financial market exchanges, written by people with experience in them or at least learning from their mistakes.
I believe this is not accurate - at least not for Bitfinex. I had limit buy orders executed well and was watching it happen and stay at 100buy vs 600sell for several minutes. The platform appeared to be working and intact during this time. So, the "flash-crash" was not a matter of seconds, but rather at least minutes. |
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A similar event occurred on bitcoin-24 during last years april rally (although not simultaneously with an actual 'crash'). In that case, the reason was that someone figured out how to hijack users login sessions, and then proceeded to transfer all their coins all to his own account by placing a buy order in the very thin USD order book and then selling all the coins in the hacked accounts to himself. Perhaps his bid order was too small, but it took the price down all the way to $0.
However, I think Hanlon's razor is appropriate here.
>Never attribute to malice that which is adequately explained by stupidity.
Just a big panicky whale that made a typo in the heat of the moment and bought a very expensive ticket for his spot in bitcoin history.
You are 100 % wrong since this happened on BTC-e AND Bitfinex simultaneously. In both cases down to a price of 100 / 102 $ This is not just a 'mistake'. |
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