221
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Economy / Speculation / Re: Losing faith
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on: November 23, 2014, 04:09:11 PM
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Everyone know bitcoin is a bubble. Some cash out too earlier and regret their actions.
It is not too late to cash out if one is an early adopter.
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224
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Economy / Speculation / Re: One year ago...
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on: November 22, 2014, 05:28:08 PM
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Seem like everyone is betting another bubble on year end because of last year astronomical jump.
Wish trading and gambling are that simple.
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225
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Economy / Economics / Re: Does this constant price drop lead to mining centralization?
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on: November 22, 2014, 05:24:47 PM
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The opposite, casual miners does not care about the electricity and machine cost, running them as a hobby. Although large farms have economy of scale and can do better when price is higher than the cost, but they also carry higher risk: They must pay for rent, cooling and electricity costs. If price continuously fall, those large farms will be forced to run underwater, they can not sell their coin to cover the cost, since that will bring down the exchange rate further
During 2011, the price fall was followed by a hash rate decrease, this has not happened yet, means majority of the farms are still profitable, when price further decline and that hope is gone, we will see how large farms being shut down
Currently they are teamed up to sell the hash rate, add some profit margin to compensate their cost, but due to the cloud hashing has many doubts about being a scam, not so many people are buying into this, especially when they have an anticipation of higher difficulty in the near future
Only the large scale asic producers are profitable if they run their own farm. Anyone else buying the miners or hash rate from the market to mine do not have any profit what so ever.
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229
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Economy / Speculation / Re: Bitcoin Price - Up or Down
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on: November 21, 2014, 03:42:35 AM
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Still in big down trend. Unless the fundamental changes, it will keep going down until mining operation drain the price down to unsustainable level.
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230
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Economy / Economics / Re: The Blockchain is indentical to a Fiat Ledgered System,
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on: November 19, 2014, 09:01:47 AM
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There are critical differences as well,such as decentralization, cryptology, anonymity etc.
I think most people are beginning to see bitcoin is not anonymous and becoming increasing centralized. As for cryptology, there are many other coins offering the same feature.
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231
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Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well
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on: November 19, 2014, 08:42:11 AM
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It seems that this retracement was good for shorters What I noticed is that short positions are a lot more dynamic than the long ones. You would be insane to short long term in this market. Some traders short the coin to hedge the interest rate. If coin price spike up, so too will the interest rate. If price goes down, they profit from short when the daily rate is down. Anyway, anyone who short on every spike for the last few 9 months did very well compare to perma bull or perma bear.
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233
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Economy / Speculation / Re: It's happening! --- 3̶6̶0̶$̶ 454$
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on: November 15, 2014, 05:13:10 PM
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I sold around $430 and kept trying to catch the falling knife, but I think I'll get back in at $386. I still think we'll have an exciting weekend.
I'm amazed by the fact that these mini dead cat bounces are actually happening. It was so obvious when it first bounced back to 430. I almost saw it all coming but just wanted to see first if it really plays out by the book. All dead cat bounces are short live so far. This particular one only last 2 days.
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235
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Local / Other languages/locations / Re: Malaysia
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on: November 13, 2014, 04:22:40 PM
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Nice implementation. Which country is the company register in? What is stopping the owner from running away after there is enough users sending in fiat?
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236
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Economy / Speculation / Re: Still safe to buy now?
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on: November 13, 2014, 04:14:43 PM
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Still safe to buy now? Now it's around $400-$450 Thinking about buying more now before it may boost up.
What do you guys think?
Buy low sell high. Not buying after a huge rally and hoping it to go up further.
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237
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Economy / Economics / Re: Why are the exchanges so intertwined?
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on: November 13, 2014, 04:12:55 PM
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Yep, transfer fiat to bitstamp, and btc to bitfenix, buy at 400 on bitstamp, get btc out of bitstamp, and simultaneously sell btc at 409 on bitfenix, rinse and repeat. at times get btc out of bitstamp and send them to bitfenix, get the fiat out of bitfenix and send to bitstamp. these are all the needed steps for a roundtrip. you have utilized the spread of 10% only once, but for more than one of the steps you have to pay a percentage on the full amount.
Low level technique. There are some other high level arbitrage techniques that doesn't involve moving fiat and hence raise some pretty bad red flag with your local bank.
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238
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Economy / Economics / Re: why do people agree to pay taxes?
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on: November 10, 2014, 01:17:22 PM
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why is it ok for a group of people calling themselves the government to force everyone to buy their services? if enough armed people refused to pay and told the government to go fuck itself there is nothing they could do.
Government has the gun and professional arm force to enforce the rules. Hard for civilian population to resist.
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239
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Bitcoin / Bitcoin Discussion / Re: Other than Bitcointalk
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on: November 10, 2014, 01:16:16 PM
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I dont think there are any bitcoin forums with as much activity as this one.
And there is a reason for that. After all, it is Satoshi and many bitcoin founders started this forum.
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