It's also not an exchange, people directly buy/sell to each other with them acting as escrow. The irony is that it is easier to launder because you can buy and maintain your anonymity and not even use bank for your transactions.
 

OK Not the most reliable source - but at the trollbox a couple of guys were discussing how after Christmas should see an upward price movement. They speculate that people will spend their cash gifts buying bitcoins.

Did something like that happen last year or is that just idle gossip. The order volumes pre Christmas have been low on BTC-e though.

It might be naive but most people who bought high and sold low - would have done it in the belief that it is going to drop some more, but they gravely over estimate the bottom price.

In your example you bought at 200, what if you sold at 100 and bought back at 70? then you would end up with more Bitcoins. If you badly miscalculated then you sold at 70 hoping to buy back at 50 but that never happened, it went back to 140 and you paid a big price, you bought at an inflated price and you have less than half of even that.

I think that's what happens to most people who try their luck on the exchange. If you are a newbie, and you are on an exchange like btc-e then you don't take the trollbox with a pinch of salt.

Also I feel if you have never traded before (like in regular stocks etc) then the inexperience of trading itself can become a handicap if you are not well prepared.

I lost of couple of litecoins before I found my feet. I am actually glad I lost it because it was a great learning experience in what not to do. As yet that loss is not big enough to hurt but the lesson I consider is big.

You are talking about arbitrage, i.e. taking advantage of the price difference by buying / selling at two different exchanges and profiting from the differentials.

The problem is that crypro currency trading is still a very illiquid market in fiat terms, So withdrawing dollar from one exchange and placing them in a second is time consuming and expensive.
 

Ah I was thinking of thin flat strip of wood. Thanks for the warning. Then wood and metal are both ruled out. I would love to build a crate rig like the one you pointed me to (thanks) but I just don't have the time now + my need to be operational is more urgent. Once I am operational, I want to take my time and build a proper rig.

If we are looking at rod shapes, can I use think plastic pipes used in plumbing? I can figure out a way to secure the rods to the case, what about the gpu to the pipes. Should I do that too?

I am getting riser cables so that I dont run my gpus on the motherboard.  I am using a cooler master case, a cheaper one than this image but this will serve nicely to explain.

I have placed the case in a sleeping position and not standing as it is shown here. I now have 12 inch risers for my 2 gpus (R9 280X). Until I build something custom to hold the gpus, I was thinking of placing a plank on the case and placing the gpus flat with the fans blowing upwards. Will that cause problems or can the gpus be placed like that.

Just thinking aloud here. If you are using Windows then you should be able to use powershell to execute commands remotely. I have executed console applications and batch files in that fashion. I think you should also be able to restart and/or kill processes.

The code for it is pretty simple to write. Let me know if you need any help.

Free market equilibrium will reject the notion of set/controlled pricing model and the whole thing will collapse on its head because it is not backed by anything.

I find the idea of demurrage and Freicoin's implementation very interesting. Its a brave attempt to code a very real crypto problem. I am not saying its a good solution, only time can tell but its the correct identification of the problem and a laudable attempt. It forces us to see Freicoin as something other than a commodity (which ironically might spell trouble for them in the long run if it does not get retail traction). It might be ahead of its time because no matter what we say as a community we don't actually see cryptos as a currency, we see it as an avenue for a quick buck - well most of us anyway.

Inflation I think should not be applied to price but to purchase parity. In due course purchase parity of what you have in hand erodes when supply increases. What a dollar can buy for you today will always be a lot less than what a dollar can buy for you in 1900. Friecoin tries to reduce what you have in hand when the real solution I think should be to reduce the value of what you have. In real terms this is done by increasing money supply. The Fed Reserve does this by continuously printing money from thin air - (the world's greatest Ponzi scheme if you ask me).

Can we code for inflationary tendencies, sure we can. Each year a variable number of blocks can be made available to be discovered thereby keeping monetary supply infinite and adaptable year on year. Coins that go out of circulation and/or hoarded are not such a big problem. The variable can be determined based on a number of factors that effect the ecosystem. Keeping variable discovery as an option also mitigates early mover advantage to some extent, because every year more people can join in. Reinforced supply will keep the exchange price in check as well which will also have an influence of the difficulty of mining.

 

I think I figured it out. Correct me if I am wrong.

The hollow green bar is always higher than the previous one indicating its on an upswing. The green colored is always lower than the previous bar indicating downtrend.

Sorry if this question has been addressed before.

In the MACD Histogram what is the difference between the hollow and the colored bars. I understand below 0 Reds and above 0 Green but don't understand what the hollow (outlined) and the colored bars indicate. There are some reds that are colored and some hollow. Some greens that are colored and some that are hollow.

Thanks

Its a chicken and egg situation isn't it.

As long as there is no widespread adoption it will be used more as a commodity and less and less as a currency, hence high in speculation and low on transaction. I am given to understand that a majority of the Bitcoins in existence are actually horded by a significantly smaller number of people.

That is actually counterproductive to Bitcoins if circulation is limited and supply is finite. What ever Bitcoins actually end up circulating are from the lower end of the strata. With limited supply its inevitable that the price will drive up and it leaves the entire ecosystem highly vulnerable to volatility - both market driven, event driven as well as malicious.
 
Its also very interesting that governments around the world will prefer that this remains a commodity and not treated like a currency because it is an existential threat to fiat. I speculate that in 2014 it will continue to be build and used a commodity with the entry of institutional investors. The ban on third party payment systems from using bitcoins is an attempt to subvert Bitcoin's natural progression of retail adoption.

Thanks
I was not aware of it.

Can you please let me know the address? I live in India and currently I am connecting stratum+tcp://middlecoin.com:3333 and using 8080 as failover.

I would prefer to connect to the EU address.

Yep the last 3 days have been exceptional for me. More than exceeds expectation. You couldnt possibly have chosen a better time to join.

My understanding is that short term there is significant interest in Quarks and you might profit. Medium to long term its going to be a dud. So if you hold it too long it could be worthless. I would tread carefully if I were a Quark investor.

Mine is running at 84c but I invested in a small table fan and it brought the temp down to 74c now.

Wondering if any of the miners in India have built their own custom rigs?

I picked up a computer cabinet because of my impatience on getting started but realised soon enough I need a better solution. I have seen people use milk crates and all sorts of creative ideas. Has anyone else tried it in India? Better still in Bangalore?

This is my current favorite.

I have 2 gpus which I want to set much wider than what person has done. My Asus 280x run fairly quite. I was expecting a bigger racket. I think a open solution will help it even more.

Given our Indian conditions (humidity, heat, dust) are there any specific dos and donts? Any help in building this rig is much appreciated.

thanks
lonsharim

They have been a pain in the backside to procure. Currently I have borrowed a 1x riser from my friend and in the meantime I have ordered a couple of 12 inch 16x riser from http://www.microsatacables.com/ I am running only 2 gpus and these are unpowered.

Here is the documentation of the API call to send to multiple addresses, if you are interested.

https://blockchain.info/api/blockchain_wallet_api

Good luck Have fun mining.