矛盾 : spear shield : paradox : when an unstoppable force meets an immovable object

You've got a one year rising support colliding with a 3 month falling support and resistance meeting in the neighborhood of $5 as you would have shown on a log chart. One has to break. Why do you choose one over the other?

Hi Chodpaba, perhaps if you made one of the H-boxes taller than the other or not cross at all (for example the orange box where it is, but the blue box typically in the top right corner (quad I)). It could only help or confuse even more.

Could the 'something else' have been Hungarian (Magyarország, Magyar Köztársaság)?



Oh and Milliarde = US Billion, 9 zeros.

That's worth recording and submitting to the permanent permanent record, ie a site not in the .gov tld. Also as I understand US IP laws, all government creations, not subject to national security, are in the public domain. MP3 anyone?

Interesting... Do you mind summarizing? I can't retrieve the audio or video.

I won't argue strongly against you, but your analogy is not entire parallel. The key pairs are not the bitcoins. The transactions are not the bitcoins. Bitcoins are an idea by consensus. What we are signing is "I send 50 bitcoins". I can say "I send you a postcard" but those are only words. The postcard might exist. The bitcoins don't. On the other hand, law seems to accept "intellectual property" as a thing with defensible and transferable ownership. I happen to disagree.

To me, it's a bit like playing tea with the stuffed animals. I can claim to pour some tea into your cup, and you can accept that I've done that, but it's all just imaginary.

EDIT: "legally binding contract" - ah yeah, OK. I hear what you are saying. But I don't think the bitcoins are the contract. The contract is "I promise to perform a series of actions that will result in a network agreeing to verify that I've performed those actions, in exchange for your pogs". If you deliver the pogs and I fail to perform the actions, then I'm acting fraudulently. I still hold that bitcoins don't exist any more than a blown kiss, whether signed or not.

I could imagine an offline computer generating transactions which could be displayed by QR code, printed, or exported to USB, and then injected into any old online client.

rant/ I've often been puzzled that bitcoin doesn't take the unix approach with many little utilities that do one thing and one thing well. I was hoping the node.js client would take that route. Why does the client need to confirm that it actually has the bitcoins before sending them? I realize false sends would 'spam' the network, but malicious users can and might do that anyway. /rant

I do agree. Maybe they're covering up mistakes. Or maybe they've learned from earlier mistakes and are well prepared for compromised accounts and handling their repercussions. Mt. Gox has had time and incentive to come up with a solution neither of us has yet contemplated.


S3052, I thought you were bitcoinwatch.

It looks like Gaurav S Ghos accepts critical feedback, if anyone cares to help set the 1.3 billion Indians in the know.

I think games will provide a stabilizing effect. I don't play in virtual worlds, but I would imagine Sir Lancelot doesn't care too much if Thor's Hammer of Lightning is fluctuating against the price of real world eggs, as long as it is stable against the price of a flock of Unicorns. Similarly for poker, I would think, a player only needs enough stability that a win is a win at the end of the day, and besides, a gambler might also appreciate the volatility; A big blind is twice a little blind irrespective of the price of eggs.

The rising year support touching Oct, Dec-Jan, April, and September converges at $4 with the falling three month support June, Aug, September. At $4, I think the market is asking whether $32 was a short bubble or whether the whole bitcoin adventure is a failure. Let the fight begin, today 11 August I mean 13 September!

It gives me confidence that we won't cross that one year support line, that we've reached the bottom from which I expect a doubling in short time. And if we do cross below, I'll have sufficient justification for panic.

Does anyone know a web resource when I can see historical gold prices on a log scale? Ideally as a dynamic image rather than a Java applet.

If Mt. Gox knew ahead of time which accounts were compromised, they would have locked them down. I bet the indication were huge sell offs and Mt. Gox reversed them within minutes. Certainly Mark should clarify, but that makes sense to me. It's not Mt. Gox's fault that users use the same username/password as elsewhere. But the rest of us should not suffer for it either. You might be correct, but I believe the theory that accounts were compromised is very plausible considering this forum was hacked immediately prior.

Mark?

...whose last post on this forum, last week and out of context, "et nous n'avons pas de difficulté ici a continuer ce que l'on fait toujours."

Price instability is a major problem. But I think we're talking about consistently low and predictable rates of inflation or deflation (2% either way).

No economist will deny that price inflation encourages spending and lending while price deflation encourages receiving and savings. If I am a merchant, I will always prefer to receive a deflating currency. But if I am a consumer, I will always prefer to pay with inflating currency. Bad money drives out good money. These actors play out in the same economy. So, if an extant industry sees sales decreasing, it would prefer to operate using devalued currency in order to gain customers paying with stronger currency.

The arguments that no one will lend bitcoins to start ups is a non-issue at this point. Dollars won't die tomorrow even if the euro does.

I think we're going through the phases very nicely. Right now, we are making bitcoins liquid. All the economic growth is related to exchanging bitcoins with other currency and making it easier to use and transact. I believe the next step will be growth of merchants, who should appreciate receiving payment in a strong, deflating currency and that value-add should counter the lack of customer base. With merchants will come more customers. This cycle should be expected to continue until saturation and with it price stability.

What about on monthly scales?

I suspect that the goons who cosby'd this forum, collected the accounts, tried all of them on Mt. Gox and found a few, then initiated the rally (it's easier to buy and launder bitcoins than dollars). Mt. Gox who conveniently hosts this forum, probably checked all email/user names, and had a suspicion about which accounts may have been compromised. When they started to execute huge orders, Mt. Gox may have manually annulled them. Speculation sure, but that's how I read Mt. Gox's statement. If so, we will all bitch as can be expected, but again BRAVO!

Compared to the pattern in early August (and June), there have been disappointing rallies to the (red) resistance lines according to my eyeballs (click to expand), though it looks like we're in the fourth Elliott wave of this week's rally.