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1061
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Economy / Speculation / Re: Professor Bitcorn is right, BTC to $10
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on: September 01, 2014, 06:12:38 AM
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Who's Professor Bitcorn?
I'm 90% sure that's referring to the BU finance professor that called bitcoin a ponzi (or something similar) and said we'd be trading at $10 this year. If we make it to double digits, I won't look at him like an idiot anymore. |
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1062
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: September 01, 2014, 06:08:22 AM
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Price continues to drop and hold its going to be a interesting ride watching the hashrate decline.
I hadn't even thought about that. In the scope of things (from this point), we could be in for more downside only in the short term. I still think mid term reversal is possible. If $500s are gone for good, yes, you are right. It will be a ride, alright.... |
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1064
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Economy / Speculation / Re: You'd better sell when APPLE competes with bitcoin..
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on: August 31, 2014, 09:16:59 PM
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Wake me up when apple makes an open decentralized trust less system where non apple users in the US can send money to non apple users in Iran instantly with a very short confirmation time, without the possibility of any government to stop it. In theory, that's great. I highly doubt this represents even tiny minority of transactions. So let's talk about what's really relevant. Again: "A product/app/etc does not have to do everything that bitcoin potentially can to be relevant." And, ahem, the bitcoin network is quite centralized. I hate to break it to you.
Compared to an apple server center, that statement is a pure joke. I think it is safe to say that the US gov will have some kind of stop button on transactions they don't like, and access to all personal information of the users. So, yeah. It will be shiny and easy to use on the outside, and there will surely be many things regarding usability to learn from it, but in the end it is nothing but a pig with lipstick. In the short term there will also likely be many apple users buying new apple products and latte with it, but in a greater picture this apple system will be nothing truly revolutionary and interesting. The point is that calling bitcoin decentralized or trustless at this point is premature, if not entirely inaccurate. And don't you see? "Shiny and easy to use on the outside" is exactly what most consumers want and what bitcoin cannot offer at present. Get over it -- bitcoin is a niche. You want to go mainstream or not? |
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1065
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Economy / Speculation / Re: You'd better sell when APPLE competes with bitcoin..
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on: August 31, 2014, 08:36:34 PM
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centralized, close this useless thread.
To be fair, at this time, one of the principle uses of bitcoin is to send/spend money instantly. Anything that makes doing that simpler, faster and more convenient is relevant. A product/app/etc does not have to do everything that bitcoin potentially can to be relevant. And, ahem, the bitcoin network is quite centralized. I hate to break it to you. |
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1067
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Economy / Speculation / Re: btc-e trading bot - massive volume - no slippage - BS
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on: August 31, 2014, 06:43:55 PM
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I think this may have something to do with it. Also, I suspect if it is simply bot shenanigans, that it may be something like this poster laid out: Or this bot is bugged and operator is sleeping.
Maybe other bot knows how to exploit.
Since the volume is slightly decreasing,.. this could be true.
Anyone remember that crazy volume on BTC China (after all the action moved to Huobi) when the maker taker bot exploited the market order bot? That guy took 100+ BTC from that bot in maker taker fee rebates. |
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1070
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: August 31, 2014, 10:20:32 AM
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There is absolutely no reason why bitcoin shouldnt be at 1k already unless the overcompensation in this irrational bear market.
Absolutely no reason? How about the lack of demand? The hodlers are doing their job, but there has to be real demand on the exchanges to market buy the price up. We've seen no sign of such demand in months now. If this lack of demand were due purely to investors not wanting to deal with exchanges, that would be one thing. But SecondMarket doesn't give me hope of huge off-exchange demand, and more merchant adoption continues to keep additional sell pressure in the picture. |
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1072
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Economy / Speculation / Re: btc-e trading bot - massive volume - no slippage - BS
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on: August 31, 2014, 10:13:31 AM
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we had that one few months ago, and price dropped 200$ after it stopped operating.
Hmm, I did not know that -- you mean the crash to $100? I saw someone mention in the Tradingview bitcoin chat that this bot was active before the margin cascade a couple weeks ago. Do you think this is the case, too? |
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1074
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Economy / Speculation / Re: I PANICKED
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on: August 31, 2014, 06:24:48 AM
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If I make $150,000/yr but only have $1000 in "life savings" and decide to invest it all into Bitcoin, big deal.
What kind of dope makes $150,000/yr and has $1000 in "life savings"? I suppose that type of person would dump their last 1000 bucks into magic internet money.... |
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1076
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Other / Meta / Re: 360 seconds limit is annoying
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on: August 30, 2014, 07:55:59 PM
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I use Firefox and prefer it this way. I prefer no data to be kept under any circumstances once a page is submitted. The dumber you are about security, the better this is for you (re: "back" in browser).
Anyway, even though my posts don't get throttled at this point, once I start writing a post of a certain length, I start copy/pasting it into a Notepad document just in case....
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1077
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: August 30, 2014, 07:51:09 PM
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Once per week, the market just makes no sense to me.
The price edges slowly up on small buys to 515. Walls appear, price drops, walls drop, price drops. Predictable.
Walls get eaten, price jumps most of the way back to 515 in minutes. Predictable.
Instead of eating the minor remaining resistance to 525 or 530, the market drops back to/below the price with walls. Weird.
BTC markets are tough to figure out.
We're just in a sideways consolidation, but still due to the downtrend on longer term (daily +) charts, the bias remains down until we break upwards. A triangle can still be drawn on Bitstamp's chart, but on Huobi, it's already broken. But still.... sideways....  |
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1078
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Economy / Speculation / Re: I PANICKED
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on: August 30, 2014, 05:46:56 PM
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Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?
Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets.... |
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1080
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Economy / Speculation / Re: I PANICKED
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on: August 30, 2014, 07:10:06 AM
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I just invested my life savings into Bitcoin
So you panic bought? How did that work out for you?  I'm glad I put some dough into bitcoin when I did. But life savings? That's crazy talk. Maybe for a young student or something. I hope you don't have a family to take care of, if serious. |
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