Did someone pay attention when it happened? Should have been around 11:54:13.
Did the wall vanish, then a huge selloff?
Or did the wall actually got bought away?
The wall was 35k heavy. Volume at that time was around 46k. So it seems obvious someone else walked right through the wall?
Damn, now I'm curious what will happen!
Ente
Transaction volume went down from 4 million to 3 million. I suspect that they are sitting at the exchanges and have not been withdrawn. It's likely that some profit taking was done. Bitcoin is still in the speculation stage. We need useful apps before Bitcoin will reverse this flush. |
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Here's an experiment to try. Print key codes on fiat currency and release it back into the wild. Wait and see how long it takes before the amount is redeemed. This may help spread awareness.
THat is actually freaking brilliant. And you could take back the money if too much time went by. A lot of people would need to be doing it for anyone to notice...there are a lot of pieces of paper out there. And it would be somewhat difficult to print a unique code on each bill, for most people. I think it is technically illegal to print or write on US currency, although it's probably not enforced very often. I thought the same thing, but WheresGeorge.com does it. However, after looking into it still illegal. "Defacement of currency is a violation of Title 18, Section 333 of the United States Code. Under this provision, currency defacement is generally defined as follows: Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item(s) unfit to be reissued, shall be fined under this title or imprisoned not more than six months, or both. " http://www.moneyfactory.gov/historicallegislation.html Take this idea and run with it. Rip a bill in half and print bitcoin on them. |
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So that means the "Early Adopters" are hoarding an average of 78 BTC. Dang those rich people!
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"Indicative" is the important word here. It implies prediction. Outside of psychics, prophets, and oracles, modern prediction is the exclusive domain of the scientific method. So where in the peer reviewed journals of market economics does it reject this disclaimer?
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Making Bitcoin illegal will legitimize it for the simple fact that gubmints are skeerd. Not every nation will fear Bitcoin and the ones that adopt it will win.
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Simply put, Bitcoin is a superimposed quantized deflationary value representation.
Yeah, cool. That'll sell it to grandma! She would ask you to say that with a mouthful of cookies. |
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In discussing Bitcoin, there are two paths:
1. Transaction
2. Currency
All currency conversations will lead to "ponzi".
Ponzi scheme is such an often overused and misunderstood term. |
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Simply put, Bitcoin is a superimposed quantized deflationary value representation.
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I have an idea, what about sponsored bills?
I would highly subsidize the cost for bills printed with my BitInstant Logo on it, that I can sell, give to friends, or anything like that.
Lets make it happen!!
You are getting warmer. I have a plan similar to this. LOL warmer to what? I wanna do this now!!  How are they going to spend their paper Bitcoin on your website? They aren't. I can sell, give to friends, or anything like that. Heh, I was thinking you were a retailer. It actually makes a lot of sense for exchanges to have printable bills. I'm surprised mtgox hasn't thought of this for their redeemable codes. |
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I have an idea, what about sponsored bills?
I would highly subsidize the cost for bills printed with my BitInstant Logo on it, that I can sell, give to friends, or anything like that.
Lets make it happen!!
You are getting warmer. I have a plan similar to this. LOL warmer to what? I wanna do this now!! How are they going to spend their paper Bitcoin on your website? |
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I have an idea, what about sponsored bills?
I would highly subsidize the cost for bills printed with my BitInstant Logo on it, that I can sell, give to friends, or anything like that.
Lets make it happen!!
You are getting warmer. I have a plan similar to this. |
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Here's an experiment to try. Print key codes on fiat currency and release it back into the wild. Wait and see how long it takes before the amount is redeemed. This may help spread awareness.
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To paraphrase an ex prez, "Mr. Manipulator, bring down this wall!"  |
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Tools will one day be created that will mitigate 51% attacks with real world solutions. In a worst case scenario we can always point nukes at the server sites identified as primary attackers.  |
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The cause is the cause of the cause of an effect. In a feedback loop, the initial cause is often completely lost and irrelevant. The market reacts to itself. Price movement is its own cause. Ever seen a woman cry because she is crying?
You got a weeper, huh? That's why God gave us credit cards. |
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I like the science of breeder reactors, but it would be better if we can wait to use them off-planet.
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The banana was genetically engineered for human consumption. While it is neither limited nor scarce, it's value was created by human need. We need a cryptocurrency. Bitcoin is only as limited as we allow it to be based on its divisibility. So yeah, bitcoin is like a banana.
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Interesting, Pent. I've seen a similar pattern (each of the cyan blue are also broken into roughly three rhythmic patterns):  I'm a fundamentals guy, but I still believe in wave patterns, even in something as small as this. Like you say, large players can easily create false signals so it's foolish to rely too heavily on the charts, but the underlying market psychology still exists.
But the waves still start with an event. There were a bunch of them there. It'd be nice if someone could make another chart with more recent news.
I esrever the effect and cause, but you otherwise agree with I. For example, no matter what the outcome of the Mt. Gox French court case, something will happen in the market and we will attribute the action to the case. The market reacts if bitcoin is a currency or it reacts if bitcoin is not a currency. Which way? It matters not. But the waves and sentiment do. The market is like a woman. It does not matter if the conversation is positive or negative, if it's logical or beautiful. What matters is that the she-market is engaged, intimate, liquid, and emotional. If you read her emotions and react rationally though empathetically, she can be manipulated but never controlled. Money helps. I understand that you are positing some sort of wave hypothesis. I can understand a little confirmation bias when looking for a phenomenon, but at some point you need to filter bias by finding something causal. Comparing the market to women means that somehow you can also predict women? You are right about one thing with both markets and women. Money does indeed help. |
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Put a picture of Moh Jesus on it.  |
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Amazing! But: this all makes the bold assumption you can absolutely tie an address and specific Bitcoins with an individual or entity. It won't happen, I can assure you. (Some hints: connecting through Tor; building OpenTransaction overlay upon bitcoin > exchanging blind tokens, etc) I'm not so jaded as some here. I really think most people are honest. Tor, darknets, black markets, etc. are only a tiny portion of financial transactions. When robbers, muggers, and lunch money bullies no longer have cash to steal, people will become more trusting. There will always be some criminality, but Bitcoin brings financial control back to the people rather than arcane derivative sorcerers. |
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