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Hi all.
I just checked my Satoshi client for the first time in weeks today (it's always running in the background) and I saw that the last downloaded block was received 17 days ago, as well as the warning message: Displayed transactions may not be correct! You may need to upgrade or other nodes may need to upgrade.
Problem is, I'm already running 0.6.3 in Windows, so I have nothing to upgrade to... or is this a different meaning of the word upgrade?
What's going on?
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I don't think there is any one "tipping point". Each incremental improvement to the Bitcoin economy improves liquidity, market depth, and volatility.
They are all improved relative to 1 year ago and 3 years ago. If they keep improving Bitcoin will keep growing and become more and more attractive.
If they don't ... then Bitcoin will shrink significantly. I don't think it will ever go away at this point.
Agreed, it will be a curve. In hindsight, we might be able to point at different moments and say "this was the tipping point", but there's no way of predicting them from this side of the arrow of time. |
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I follow Bitcoin news pretty closely and I didn't hear any news coming from the Finland Central Bank. When did that happen? Do we have any more information on this?
I had the same reaction to this news. Can anyone verify this? Source? Reference? Can't find the thread right now, but there was one about Finland declaring, somewhat officially, that there was nothing wrong with Bitcoin in principle. Edit: here it is... https://bitcointalk.org/index.php?topic=100924.msg1104056#msg1104056 |
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I am so sick of hearing the electronics industry being used as an argument for deflation. You fail to remember that their prices deflate while the CURRENCY STILL INFLATES IN GENERAL. It is the dumbest, most misrepresented argument ever.
Are you seriously suggesting that the magnitude of deflation for electronics industry prices is equal to the inflation of the currency in general? |
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This seems like a hoax. Time to move on.
"Reference to avoid Fakes that only you will have. 1.all these considerations did not deter me from the path of duty 2.he moment I understood the will of my Heavenly Father" I'm guessing this was included to prove to PwC that the theft was legit. I would imagine the lawsuit for allowing the data to be stolen will cost them far more than than $1M. What does that mean... that was included somewhere? They might be passwords :-) |
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Am I getting lucky with my prediction?
at what price do you have buy orders? At the last one  |
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If the market is so bullish right now, how do you explain the bid/ask distribution?
The ask/bid only shows you what's on the order book... there could be (and I'm quite certain there is) a whole lot of fiat sitting on the exchanges that isn't on the order book. |
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Are we seeing that dump anytime soon? Come on, we want cheap coins!
wonder if he repeats and waits till Friday Considering how well it worked out for him last weekend, I doubt he'd be so dumb as to try it again... but hey, the internets is full of dumb these days, it seems. I hope people will finally stop fantasizing about pirate wanting to crash the market. There's a "pirate crash" every few hours, look at the volume data. He's been selling. Yes, that makes a lot more sense than any attempt at manipulation. |
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Are we seeing that dump anytime soon? Come on, we want cheap coins!
wonder if he repeats and waits till Friday Considering how well it worked out for him last weekend, I doubt he'd be so dumb as to try it again... but hey, the internets is full of dumb these days, it seems. |
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No sense considering any longer. Pirate announced default with "no further information available". Watch the price of bitcoin for your expected reaction...
Enigma
Good. Now the wanker can stop trying to play god with the market and things will return to normal. |
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To me it seems like I'm suppose to think it's going down based solely on the ask orders but I can't identify any fundamental reasons why it should go down..
The fundamental reason it should go down is that pirate wants it to and lots of people are scared of him. Pirate wants it to, maybe. Lots of people are scared, not so much... and for each BTC in the hands of someone who's scared, there's a few dollars in the hands of those who want to buy. |
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I really do think fundamentally understanding how bitcoin works is necessary to be able to trust it. +1 That is a very good point. In my experience people definitely trust Bitcoin more when they understand it better. The problem is that you need to understand several different areas fairly well in order to get the complete picture: - P2P networks - Code and Open Source - Cyrptography - Economics - Law - Markets And I'm probably missing a few. |
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His problem is that right now there's a lot more money waiting in the wings.
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What am I watching? I sure hope building and tearing down walls is a profitable endeavor! Sadly, documenting the process is not! I should go do something more constructive!   You're watching MtGox make a shitload of money, that's what. |
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good morning.
just to clarify, the bet was the daily high today would be >$12. So, no matter what happens, I still won the bet.
Although, I do think we will end the day >$12 anyway.
The concept of a "bullish crash" has probably been explained on these forums before. The simple version is: The coins were moving into stronger hands. There's more to it than that, but I'll keep it simple for now.
The reason this last crash seemed so bullish to me was: there was that obvious fake stairway formation and yet we still weren't crashing any further even though it would require >$1.4 million dollars to get to $12 at the time.
My guess was the stairway formation was there because a big player(s) wanted to keep the price low enough until the weekend to start a big rally. The reason why he/they waited until the weekend to remove the stairway is that he/they didn't want much competition to snag up the coins.
These are just a few factors that helped me decide this was indeed a "bullish crash." For obvious reasons, I don't want to give away my bread and butter trading strategies.
All in all, it was just a guess. But a well informed one.
Next prediction: We will break our 2012 high about a week after the big announcement coming up.
Hmmmm... I call bullshit, but well played nevertheless, kentrolla  |
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1) He has stuck around, saying he will make it right. Correction he has stuck around saying he will TRY to make it right. It just simply is way beyond his abilities to do so. I expect he will eventually return something. Maybe 10 bitcents on the coin. The rest will have been eaten up as interest to those who withdrew before it went bust, his failed business "strategy" (very loose use of the word), and his spending of paper profits when things were looking good. Has anyone asked if the "Meet & Greet a Pirate" was financed on the investors dime? Also, let's not lose sight of the fact that "sticking around" in this context, isn't exactly inviting people over to his house for dinner... sporadic appearances on IRC don't really amount to a whole lot of sticking around, and can better be explained by him trying to buy some time. |
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I don't think cops or lawyers is what pirate should be running from.
Some big bitcoin users are also in black market/drugs.
Those people use guns.
He's not just playing with nerd-miners and linux-enthusiasts..
And as people say investors deserve to loose their coins,
IN the same logic pirate then deserves to end up in an aftermath of this whole story that would be a great CSI episode.
Hey, we already hit The Good Wife, maybe CSI is next |
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We will only know if someone will use violence and they get caught?
We'll know if people attempt to get the authorities involved. Either they'll succeed, and then we're not on a desert island, or they'll fail, and then we are. What are they going to do, complain that a man took their Internet moneys? It would be regarded by the police as the equivalent of stealing someone's NX points or ISK. They'll set the matter aside and we're still screwed. Stealing a million dollars worth of Monopoly Money is still stealing a million dollars. There is no reason why law enforcement should choose to not become involved. They may find it too hard to track down the culprit, but the argument that they won't become involved because Bitcoin isn't "real money" just doesn't hold water. |
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But Pirate is still within his announced 1-2 weeks window, still hasnt lost his 5000 BTC bet...
True, but he loses BTC5000 EVERY DAY due to interest. I know. But if you believed he had a mystery money making machine that allowed him to generate such profits, there is no reason to assume that machine no longer works today. He still has the coins. Its no different than 2 weeks ago. Secondly, the only way I can conceive pirate can pay back his BTC debt is if he has some way to debase BTC value tremendously. And I dont mean by selling his coins, because that wont help him, but something akin to a 51% attack that he has been working on for months. I dont think thats whats going on, but if its something that has a similar effect, those 5K btc per month dont mean a thing to him. EXACTLY!!! Very well put.. But, but, but... if he had the resources to pull off a 51% attack... wouldn't he already be rich and powerful and not need to pull a ponzi scheme? |
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Yeah.. wheres some updates ?  Not looking good.. Personally, I think his plan was to crash the market, and he didnt plan on the price being this high, or thought the panic down swing would go much further, all in a plan to grab more coins than he has at a lower price.. This has clearly backfired dramatically.. If he went to cash on all those coins, what price do you think roughly he went to cash at ? $5 ? $7 ? or near ten ? He's fucked, plain and simple... and has to buy back all the coins.. and if he's legit, hes taking a hit, and quietly buying all the coins he can outside of the markets as not to drive up price... it was not serious business from the beginning! more like a big boy dream.  Of course it was serious, like the serious cold fusion generator he created, or the serious perpetual motion machine in his garage. |
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