So I imported some private keys to electrum from an old multibit wallet because it has a set, and now far too low, fee. Sent it from electrum to my phone wallet (mycelium) with the lowest fee electrum would accept (dumb fucking move), and it has now been stuck for 5 days.

I read that with some wallets you can spend more than your total confirmed balance with a high fee in order to force the unconfirmed balance to be included and thus processed as if it had a high fee from the start, which is what I did with the phone wallet. But in this case all it did was send a transfer that will only be confirmed when the old unconfirmed balance has been processed. In effect the coins on my phone are all stuck until the first low-fee transfer eventually gets done.

Is there any way to unstick it? Bump the fee or whatever? And, does anyone have a best guess as to how long it might take before it goes through on its own?

tx id: c1cec69354de7edb3da99f776c09a41154d1e03c9194625c6b349cb9b4f95661

So I was sending some coins to my phone for a quick and dirty cash trade. 3 hours later it has still not shown up. Check unconfirmed transactions, over 26000.

What's going on? Some sort of spam attack? Random spike? Anyone know anything?

Yeah obviously there is no connection. Still, this is the thing to do nowadays, so here we are.

The reason is simple. I will soon have to sell a double digit amount to pay for certain expenses, which I will later have to buy back. Every single time something like this happens the market moves against me. You are welcome.

Really, people. The pattern is obvious. A dump, accompanied by a new selection of obvious trolls. Ignore them. Don't respond to them, don't quote them, just pretend their posts do not exist.

The one universal rule of internet forums is that we have the trolls we deserve. It's in your hands now.

I just had my phone stolen. It has 0.5 BTC in a mycelium wallet. I have the seed, but no immediate ability to buy a new phone. Is there any way to access my coins on a regular computer?

Getting excited over $2 swings must be some sort of joke. I have stopped buying. Expecting another sub-300 drop.

Not by much, but it's the first time in almost 2 years. Should we read something into this?

https://blockchain.info/charts/difficulty?showDataPoints=false&timespan=180days&show_header=true&daysAverageString=1&scale=0&address=

So this is my interpretation of recent events.

It seems obvious that most trading happens outside exchanges, given the actual transfers on the blockchain vs the volume on exchanges. Likewise that most weak hands were gone months ago. So what happened was that someone with a lot of money pushed the price down on exchanges and bought back outside of them. This would result in an increasing number of coins at little to no expense. This theory is reinforced by the fact that the top 100 btc addresses is increasing over time.

With the price approaching both psychological limits (previous ATH) and the cost of actually producing a coin in electricity, this had to stop eventually. But market sentiment was bad due to the ever-decreasing price so something was needed to regain confidence in the market. That's what the huge wall on stamp that got eaten in hours was for. Whoever was dumping the price is the same person or group who put up the wall, and who bought back the majority of it. The entire point of that exercise was to give the idea that there was huge demand that had just been waiting for the right time. The costs involved were likely to be insignificant in the grand scheme, and in any case necessary. The cost of doing business.

The next step is to slowly pump the price, making it look organic, until momentum eventually takes over and others pump the price to the next ATH.

It's up from here.

A predictable market is harder for insiders and whales to profit from than an unpredictable one. That's why the beartrolls are going to continue to be right for a while longer. They are working for whoever is dumping the price on the exchanges. Their purpose is to confuse. With apparent retards making more or less accurate predictions, rationality goes out the window and people make worse decisions than they otherwise might.

Anyway, just a thought.

Let's entertain this argument for a moment.

1) You buy mining gear with fiat that is not needed elsewhere. As this fiat was available there is no need to dump coins in a bear market. Wait for next ATH. Net market pressure: Up.

2) You take a loan, mine and sell regularly to pay the loan back. You do not sell 100% of them regardless of price because you did your calculations beforehand. The coins you do not sell are now unavailable to the rest of the market, increasing scarcity and therefore price. Net market pressure: Up.

3) You are bad at math and mine at a loss. You either turn off your miner or bleed money until you end up in the gutter. Net market pressure: Down, but temporarily.

Not being a miner myself, it's possible I missed something. But so far, it looks like sustainable mining is good for the price.

I'm actually looking to be proven wrong here. But with logic and numbers, not trolling. Thanks in advance.

I see people talking about the lack of interest from Joe Public and how that means the Joes of the world will not pump the price. This appears to be true. And This Is Actually Good News™.

It's never the average people who are at the forefront of innovation. The next bubble will be fueled by smart money. Frontrunners. The kind that frontruns other kind of Big Money. This is also why the price hasn't gone up already, they know how to accumulate without raising the price.

After that, the laggardly kind of Big Money will pump us further. And then eventually, with safer and easier ways to store coins available, Joe Average will start buying in - after a lengthy media hype campaign.

Patience. This is still very early days.

Obvious whale dump to incite panic, what few weak hands remain are folding, panic on the speculation board. Won't be long now.

Not yet. The price will go up with adoption. We know this, yet rail against it. "We want stability" people cry, but that is impossible at this stage. It's a speculators game all the way to the top, when the market is eventually saturated. After that, it will be primarily a currency and secondarily a speculative asset. Right now it is the reverse, and it will stay that way for at least a few years.

But what about merchant adoption? What about Dell? They are just getting started early. They accept bitcoin not because there is much reason to, but because there is no reason not to. Even at early mainstream adoption, it may not necessarily increase their profits by much - but not having the option would hurt it. Just as we can see what investing in bitcoin now can turn into years down the line, so do they. We just have different angles on it.

Buy, wait, trade if you want and enjoy the ride. But please stop being irrational about it along the way.

Just bought my first smartphone today, a cheap android. I know nothing about bitcoin and phones, so can anyone recommend a deterministic android wallet? I find it much easier and safer over messing with backups.

From the press section: https://bitcointalk.org/index.php?topic=626751.0

Kinda weird that nobody has posted it here yet, but there we go. Effect is obvious, but when and how high?

Putting my head on the block. I see people talking about 3-6k, and from what I gather predictions for the big jumps tend to be too low. That plus really big money looking at us right now.

http://www.version2.dk/artikel/liberal-alliance-holder-e-valg-med-bitcoin-teknologi-57645

Click your local translate button.

Voting with the blockchain has been discussed before, but this is the first use case I heard about. Hopefully it catches on on a bigger scale.

So this keeps coming up. Why do we want a more so-called fair distribution? How does the economy benefit from this? Let's leave the moral arguments and ethical outrage for another time, for this thread I would like to focus on the practical aspects.

Bored. Bored bored bored. BOOOored.

Fundamentals are the same as always. Panicky idiots and probably Karp and other criminals are dumping the price, and none of it matters. Just waiting for payday so I can buy more. And once we finally break past 1k again, I will keep buying.

Trouble is, that's all I can do. Wait. Investing is such a simple and boring thing to do, once all the reading and thinking is out of the way. But still works better than trading on average, so here I am, watching the market take a dump from the sidelines, and thinking about cat gifs because that is infinitely more interesting than the current state of affairs.