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You have been warned, cut your loose
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Or a parody of the bulltards.
Bingo  but I think theres an element of truth to it, on a serious note, I am genuinely bearish and we will make new lows, $10 sounds extreme but double digits isn't out the question, anyway back into character... It is already a functioning worldwide payment network backed by a 500million infrastructure,
We can use Professor Bitcorn's Crypto Currency Theory which states the underlying value of coins proportionally increases in infrastructure spending, yet decreases from the minting of new coins and is equal to total infrastructure expenditure divided by the coins in circulation, Divided by Pi. So using these figures: $500M in infrastructure and 13M coins in circulation 500 000 000/ 13 000 000 = 38.461538 38.461538 / 3.1415= $12.24304 |
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<<<< Under my name, THE BIG SHORT
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YES YES LET THE BUTHURT FLOW THROUGH YOU!  |
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HODLING soon to be renamed BAGHODLING |
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Whilst I agree with you that there is greater value in a network with an expanding the user base, you are making assumptions to the extent of its growth through circumstantial abstraction and could possibly be existing users moving funds around, creating more wallets, spending through greater merchant adoption, change addresses and tumbling coins. I feel (not backed by data yes hypocritical of me ) that alot of people have wised about about reusing adresses and think this will continue to increase as SPV clients are implementing HD wallets for smart phones... |
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The rise in popularity of SPV clients with hierarchical deterministic wallets using change addresses has nothing to do with it? And by the way, you might explain whether you are serious about your byline "Sell your house to short BTC". Short position margin calls at Bitfinex could be ruinous if you are all-in.
Or it could be very profitable as well too and has nothing to do with this discussion. |
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I see a bottom at 430, does this look accurate?
Here is the Blockchain.info chart for the number of daily unique addresses appearing in transactions, smoothed with a 7-day moving average. It also suggests, given that recent numbers are similar to those in March, that the bottom is behind us. I do not watch this data series as much, as perhaps gambling transactions are not filtered out. A higher number of new addresses being used isn't a measurement of new money coming in... |
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Now that price discovery has been slightly decentralised it would be significantly harder to rig the market again and we are potentially in a make it until you fake it moment. It seems to be doing pretty well so far and no doubt there will be some short term rallies in the future. Ultimately those conducting big OTC purchases will be the supreme bag holders.
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Really painful to watch for the second time...  |
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Would be funny if Tim Draper was left holding the biggest bag of odorous excrement ever assembled in the history of Bitcoin (stolen from Margin Call) this exchange start up would be getting the hurry up by now...
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I'm HODLing in fiat cold storage and won't be buying on any bounces. Will sell my house soon to short BTC. Cut loose now  |
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I realise this isn't anything new, arguments and discussions around organic growth have been made. To me the data dump from the from the Mt Gox data base and subsequent Willy report is still the elephant in the room. Claims that Willy began trading in November 2013 before the $1200 bubble leading to speculation that another bot has been operating as early as feburary 2013 when the price of BTC was $20 and before the run up to $260. Granted many bulls will say that we have had a massive correction already and this is old news the price has dipped into the $300s and since recovered. Or was this just a bull run in a very long bear market? Illustrated from the price action from the $420 sideways and then break out and run up to $680. Beyond trolling, some people here must have genuine concerns as to whether we need to have a proper reset to correct this folly.
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If the price discovery mechanism on gox was more rigged than a Bernie Madoff scheme on crack, then propped up by china and the pumpers; early adopters and gox hackers cashing out we could see some serious mean reversion to the levels of the bubble to $30 as the music comes to a halt |
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Fact: Before bitcoin you had to trust banks and governments with the money.
um no you didn't. |
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How much stupidity can a man take?
MatTheCat has been all over the place accusing Bitfinex of painting the tape, rigging the market, scamming customers, you name it.....
Mat, I believe the time to put your wallet where your mouth is has come.
I challenge you in a 10:1 bet.
If you can point out any transaction where there are no real parties involved ( that is Bitfinex is one or both of those 2 ) you will get 100 Bitcoins as a reward from me.
But if you are proven wrong in your assumption you will have to pay 10 BTC ( 5 BTC each) to the happy real parties of the above mentioned transaction ( that is I will not earn anything but will prove you are a retarded troll full of shit).
I'm ready to put the 100 BTC into an escrow service that will regulate the bet and decide who the winner is any time.
Are you ready to do the same and put your 10 BTC (I suppose you own them, but I might be wrong in my assumption as retards like you tend to lose all their coins in losing bets) ?
Let me guess.... another avalanche of insults, false allegations and blah blah blah will follow.....
But at the end of the day: money talks bullshit walks.
Time has come to prove you are a man and not just a kid that blames his losing trades on bad luck or dishonest people.
Have a good day
Giancarlo
Bitfinex Team
How about instead of a bet, you address the issue he posted or challenge what he has said and prove it to be wrong with some information/data |
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I remember someone high up in second market talking about this and he mentioned normally for off market deals sellers ask for a premium in an upward market and in a downward market buyers normally get a discount. So I wouldn't exactly get excited. If an new entrants from wall st, not second market, pantera or winkdex register to bid then that will be fun to watch |
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Slight sell off so far...
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