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The upwards breakout and downwards breakout have failed.. it seems
Can someone show the pennant, as it is now? It must have just exited without breaking in either direction?
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There is no use trying to convince me that bitcoin can survive more then couple of years, before it will get eaten by competition. To me it sounds like, when someone is the first to struck oil, and then no one else on earth will drill for oil any longer, because someone else already did it. Creating the perfect digital currency will soon be the holy grail to everyone who consider them to be geniuses at software engineering.
I CANNOT disagree with you, here. It is very possible that there is going to be an improvement on bitcoin that will undermine bitcoin... but that is in the future.. and maybe even, as you say, two years or so. At the moment... bitcoin is pretty damn good... and bitcoin is "the one" to invest into b/c it is the direction of the future. However, if a better "one" comes along 6 months from now, one year, two years or even longer.. at that point, it is very possible that we could transfer our investment from bitcoin to that other "one." Accordingly, what's the problem... Invest in bitcoin now, and when that other better one comes along, then move assets into that other better one... NO problema. waiting for more cheap coins  When is this going to happen, and how low is it going to go... I would like some more too in the coming week or so... and then thereafter we can be on our moonward journey... $300 |
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I cant imagine how those things are profitable..
Aside from manipulation. Is that the goal? I saw something about someone using an HFT bot to prop the price up and offload at higher prices. How I cant totally understand, but apparently it works.
So how do ones that trade on relevant markets movement work? Only the first one there can win.. and its not even high frequency, just low latency trading then?
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Probably never. No gox, no rally.
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This is a normal amount of volume, because no one knows where we are headed.
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I haven't been keeping track of things today, is the current Gox situation still no real news but plenty of speculation and fud?
Fortunately I removed my small BTC stash from there a while ago.
Yup!  Some more additional fuel like 1. Gox coins possibly seized/frozen by US Govt? 2. Gox filing for bankruptcy? 3. Possible Gox addresses with large sums of coins? (Solvent?) ------ BTW, the failed breakout is pretty scary IMO? Anyone agree? |
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means nothing. but its interesting, you can see that whenver gox got a deposit, it usually sent that deposit somewhere instantly. this time its keeping a balance in the wallet.. hm? |
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I would really like to meet this person who goes "Hey! Look! People who invested in bitcoin lost money because the exchange service turned out to be fraudulent. Wife, give me my wallet, I'll better transfer some money to a bitcoin exchange quickly to buy those bitcoins"
It's not that easy, I doubt the initial rise if it happens soon will be from new people, you don't read about exchange taking hundreds of millions of users money and sending money to another exchange same day.
If we go up now, it's money from old bitcoiners, noobs might join later if it goes up but them starting it at this moment - I doubt it.
I'm not talking about people who heard about it for the first time. I'm talking about people who heard about it many times. Bitcoins are not understood easily. Most investors heard about it years before they decided to be part of it. And now, due to the publicity, some people read that one clarifying post in an unrelated reddit subforum (aww/cmv/funny e.g.) or watched an Antonopoulus video that answered that one misconception they had about btc. They don't care about Mt.Gox. They care about being part of it for different reasons. I really, really doubt that. Reading that 400m of investor money was stolen (again, read) from the "biggest[or "one of the biggest"]" exchanges is 100% bad. Go read any news article and check the comments on it. "I knew it was a scam" "Get rich quick fail" basically this re-assured everyone bitcoin was a scam. |
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Wow... volume nearly non-existent
Bearish  Gox death is a very bearish event. It would be a miracle if we dont crash down to 300 or less. |
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Too late. Only down from here.
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Bull Market about to begin. Cover your shorts cause you don't want to be caught with your pants down when this goes up.
People at the bitcoin market are weird. The situation with gox would be like HSBC would shut it's doors and freeze all of it's customers funds, without giving any explanation. And people will react to it "Good! Now the stock market is going up! Let's all buy!" Yeah, but only speculators... Where's the newbie-crowd and their fresh fiat? I wouldnt be touching any of the exchanges if I were an interested investor after the Gox ordeal, I tell you that much |
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Hi all I have mined at http://ultra.nitro.org for a 24 hours at 4*280x + 1* 270x at 1400 khsh/s and pool shows that estimated earnings ip 160 UTC, but real earnings is 30 UTC What could be a reason? One of my worker 2*280x stats: cgminer version 3.7.2 - Started: [2014-02-26 23:54:04] -------------------------------------------------------------------------------- (5s):567.1K (avg):585.3Kh/s | A:751616 R:9856 HW:2 WU:531.4/m ST: 2 SS: 4 NB: 2814 LW: 35774 GF: 1 RF: 0 Connected to ultra.nitro.org diff 64 with stratum as user *.* Block: 6563cb68... Diff:8 Started: [23:50:58] Best share: 1.81M -------------------------------------------------------------------------------- [P]ool management [G]PU management ettings [D]isplay options [Q]uit
GPU 0: 46.0C 2762RPM | 283.1K/293.8Kh/s | A:379520 R:4608 HW:0 WU: 268.7/m I:12
GPU 1: 52.0C 2918RPM | 282.2K/291.5Kh/s | A:372096 R:5248 HW:2 WU: 262.7/m I:12
you have tooooooo many rejects. you have your --sj-time set correct for utc? If yes, adjust TC to 8192 since intensity is at 12, stock core, stock memclock and go from there. How much rejects is normal? I get 10% less WU than KHash |
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I bet they were shit scared of getting into trouble with the local authorities and decided to pay out their JPY withdrawals as a priority.
Yep. Even if they do want to fix it, getting those withdrawals out ASAP was important. |
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Unless you are trading 100% of your coins regularly, why don't you keep a portion cold?
I will lose anything physical. Almost guaranteed. I have to replace my flash drives monthly because I always lose them... I keep back-ups encrypted and locked in safes in the homes of two family members. It may sound ridiculous, but it is so easy to do in practice. Why not? I advise anyone and everyone to actually PRINT paper wallets. If you are really paranoid that the paper won't last chisel the private key in stone. Thats a damned good idea for someone like me... I'd have to chisel it on a few different stones... but I would know if it was tampered with. |
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Thanks for all the ideas guys. Main reason I havent done anything like it is that I'm paranoid something would go wrong. Every time I make a transaction I go character by character to make sure nothing was wrong with the address  . So, I dont trust a computer to encrypt my wallet, thats for sure. People are off their heads gambling on that toxic gox shit! If there was really a silver lining don't you think everyone in the know and there familys would be buying and the price would be 5x higher now??
Maybe. But maybe not. Its not like you'd make that much money off of it. About 1 million dollars if you bought it up to .5gBTC/BTC. (and it ended up being worth a full BTC each sometime in the future) |
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Great time to be lending BTC on bitfinex - it is sitting at an incredible 0.35% daily right now! That is around 127% APR - compounded daily which would make it an effective annual rate of over 255%!! Why are more people not lending BTC over there??
The same reason we didn't store bitcoins at Gox. How big of a threat are wallet stealers? Curious. I keep almost all my coins on exchanges, because i'm paranoid about them. Unless you are trading 100% of your coins regularly, why don't you keep a portion cold? I will lose anything physical. Almost guaranteed. I have to replace my flash drives monthly because I always lose them... |
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Great time to be lending BTC on bitfinex - it is sitting at an incredible 0.35% daily right now! That is around 127% APR - compounded daily which would make it an effective annual rate of over 255%!! Why are more people not lending BTC over there??
The same reason we didn't store bitcoins at Gox. How big of a threat are wallet stealers? Curious. I keep almost all my coins on exchanges, because i'm paranoid about them. |
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I'm enjoying this hypothetical forking question  This is certainly not the point in time where a fork were to be actually considered but there might come a day where this becomes the case. In a sense this is the ultimate strength of the system and the reason why cryptocurrencies are here to stay. No regulation or external influence can stop a new spawn from emerging I agree to a point but a fork like this would split the community to the point the miners decided and they would do it for money, therefore in that sense its just as bad as the old system to even consider this. A fork would only ever be considered for a change in the protocol not to restore lost coins. Hey here is a novel idea...instead of forking bitcoin. Why not just use one of the other 100 cryptocurrencies out there? Because.... that doesnt recover anything? |
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he just wants to get your goxcoins cheap. No way to prove Gox controls the coins... Just like theres no way to prove that they lost the coins people have been wildly speculating they lost? Everyone is just blindly stabbing at ideas in the dark. +1 he just wants to get your goxcoins cheap. No way to prove Gox controls the coins... It sure does seem more believable that they have coins but either lost keys and/or had them frozen by US, than it is to believe they were hacked. |
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Gox being served with a gag order from FBI would actually make sense and also answer the question why so little information has been given out to the "public" I think the ties between the bust of silk road and Gox is bigger than we might realize. Dread Pirate Roberts / slik road probably used Gox for trading and held of lot of coin / $ there, leading FBI to take a closer look at Gox and halting operations with US banks and possible locking down the cold wallets to secure any needed proof. This is from an ongoing IRC chat minutes ago, chat ##mtgox-statement: [15:27] <napedia> I just blew the doors off this thing guys.. I found the money
[15:27] <@bitinstant> ^
[15:28] <@Lao_Ban__> So, what now?
[15:28] <@bitinstant> Were documeting it all now
[15:28] <@bitinstant> and going to publish it
Theres 5 people in that IRC, why are you taking it seriously? |
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