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1461  Bitcoin / Bitcoin Discussion / Re: BayFiles - New uploading site from the people behind Piratebay on: August 31, 2011, 05:17:13 PM
I recieved an answer.

Quote
We have strongly considered Bitcoin as a payment option and did some testing.
However, we are not convinced that the current Bitcoin system offers enough
privacy to users and the technical implementation of the official client is not
ready for prime time for online stores yet in our oppinion.

We'll keep an eye on it.

Wow, that is actually a good answer. If someone can say "the technical implementation of the official client is not ready" it means they've really done their homework.
1462  Economy / Speculation / Re: Gox is Goxxin! on: August 31, 2011, 05:09:32 PM
Boston shuffler, son!

So basically anybody with enough money and bitcoins can get a bot and manipulate the market to their advantage, profit, and fuck the majority of other traders out there..  Cool.


I honestly think bitcoin is too small for bots.  I don't think bots should be allowed, and I think it would be advantageous to come up with a better method of determining a bitcoin's value and not solely base it on how much danny day trader and his bot want to buy/sell at today.

It will take the cooperation of the exchanges to do anything about it. If they would just add fees to order cancellations over a certain daily amount...


Yup, all it would take is a little fee.
1463  Bitcoin / Bitcoin Discussion / Re: FBI Admits To Engaging In Infiltration, etc in Competing Currencies on: August 31, 2011, 05:07:44 PM

I guess the USA should invade Canada and Australia for using the word dollar as well.

The US will never invade Canada. They wouldn't want another 40 million Democrats!  Grin

Did you not notice the neo-con Prime Minister we recently elected with a majority?
( in some ways makes his buddy George W. Bush seem liberal minded )

With clowns like that leading us The US doesn't need to invade.


"And when I say jump you're only question should be 'how high'!"

"Yessir, anything you say sir."


Do you really need a lesson in the differences between a Parliamentary monarchy and a republic? Harper won a majority government with a ridiculous MINORITY of the votes. Oh, and go ask Canadian conservatives if they want to do away with health care, deregulate and invade foreign countries, the way neo-cons do? They'll look at you like you have two heads.

Do you have two heads?  Grin
1464  Economy / Speculation / Re: Why aren't more people buying bitcoins? on: August 31, 2011, 04:49:57 PM
My question is why are all the trolls coming in saying sell sell sell!  instead of buy buy buy!!!   we have the wrong kind of trolls. 

I consider myself a noobie, but after the second "THE END IS HERE"  Or "SELL SELL SELL!" thread  its so obvious they are trolling.  That got me thinking why havent we had any "buy!" trolls ?

Heh, in a weird way, it's a vote of confidence in Bitcoin. The trolls yell SELL SELL SELL, because they want more BTC. If they wanted more dollars, they'd be yelling BUY BUY BUY.
1465  Economy / Speculation / Re: Why aren't more people buying bitcoins? on: August 31, 2011, 04:43:06 PM
Actually, people aren't buying bitcoins because they're not particularly easy to buy. If you're a regular Joe who just heard about Bitcoin and thinks it's an idea with some merit, think of what you have to do in order to just get your hands on 100 BTC.

That's one of the reasons I am so keen on the idea of a Bitcoin ATM. Now, if someone could just come up with one...  Wink
1466  Bitcoin / Bitcoin Discussion / Re: Everything that was centralized in Bitcoin happened to fail big time. on: August 31, 2011, 04:20:18 PM
Actually this is what happens in a free market where there is *no* central authority and zero consequences for ripping people off. But keep trying to justify your ideology, its cute in its own way.

Actually, and this is why we need a higher discussion on a more philosophical level, you are about as dead wrong as one could be. Artistic movements are by definition decentralised, and it is in our nature as humans to embrace them. Whenever some misguided attempt has been made at "centralising" art and giving it direction, it has failed miserably.

Is Bitcoin art? hmmm... In some ways, yes, I guess.
1467  Bitcoin / Bitcoin Discussion / Re: FBI Admits To Engaging In Infiltration, etc in Competing Currencies on: August 31, 2011, 04:17:00 PM
The main mistake Liberty dollars made was to use the word "dollar" on their coins.
You cannot go around minting coins that could be confused with federal coins. And then
for people to start taking them into stores and wanting store owners to accept them was
just looking for a raid and seizure.

I guess the USA should invade Canada and Australia for using the word dollar as well.

The US will never invade Canada. They wouldn't want another 40 million Democrats!  Grin
1468  Economy / Economics / Re: Question About Supply on: August 31, 2011, 04:10:57 PM
From what I understand, the supply of BTC increases at the same rate no matter how many people are mining. Isn't this unrealistic, since if it were like mining in real life, supply would increase less with fewer miners and more with more miners?

You might find Bitcoin unrealistic also because its not yellow and it can not be hold on your hand.

Heh... Hugo, tenle paciencia.

Yes, Anth0n, it's unrealistic if your goal is to come up with a clone of gold, or platinum, or diamonds. But that wasn't the goal with Bitcoin. Rather, it was to make both the total supply and the way in which we'll reach it both open and predictable. This has its advantages too.

I had always thought Bitcoin to theoretically be a perfect money since it would mimic the real life ideals of supply and demand, until I noticed this flaw. It discourages new miners from joining since their share will be less than if more coins were created when they joined.

And yet, somehow, even with the low prices we have right now, miners are mining... lots of them. It's probably because the term "mining" is a bit misguided. Think of them as the "high priests and priestesses of the network".  Grin
1469  Bitcoin / Bitcoin Discussion / Re: FBI Admits To Engaging In Infiltration, etc in Competing Currencies on: August 31, 2011, 03:49:51 PM
Where you US ditchers went?

 

I for one used to think we don't belong here (in military) but my girlfriend's parents might never have been born otherwise so who knows.



I'll give you the benefit of the doubt on this one, but let me just say that without Hitler I would not have been born. It still doesn't make him a good idea.  Smiley
1470  Economy / Economics / Re: Question About Supply on: August 31, 2011, 03:44:24 PM
From what I understand, the supply of BTC increases at the same rate no matter how many people are mining. Isn't this unrealistic, since if it were like mining in real life, supply would increase less with fewer miners and more with more miners?

You might find Bitcoin unrealistic also because its not yellow and it can not be hold on your hand.

Heh... Hugo, tenle paciencia.

Yes, Anth0n, it's unrealistic if your goal is to come up with a clone of gold, or platinum, or diamonds. But that wasn't the goal with Bitcoin. Rather, it was to make both the total supply and the way in which we'll reach it both open and predictable. This has its advantages too.
1471  Other / Archival / Re: delete on: August 31, 2011, 03:29:43 PM
About the only new block chain and cryptocurrency I can foresee any success for in the future, other than Bitcoin, will be an inflationary one backed by BTC. This will serve the dual purpose of having a decentralised currency with a predictable inflation rate - therefore putting to rest the "deflationary spiral" arguments - and a chance at becoming really popular because, being backed by Bitcoin, it won't be seen as competing against it.
1472  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 02:55:41 PM
Those Hidden practices are exactly what Bucket Shops DO before they vanish. It keeps people out of the loop regarding the real financial health of such institution.

But, I guess its up to me to set up a whole new exchange service that doesnt hide any capital information. Best Luck to all traders out there!!

Also, they pushed back 2 week for Liberty Reserve withdraws, in other words, let us build the capital then we will send you your money... Liberty Reserve is instant!! why 2 weeks?? ALERT!!

Can't speak to the Liberty Reserve issue, as I don't really use LR anymore. But the practice of hiding offers in whole or in part is, I'm afraid, pretty well established in trading circles. Again, I personally don't really like it all that much. But then again, so many people put up fake offers and walls anyhow as to make any attempt at reading market depth pretty baseless. But hiding part of an offer is a service that some might think has value, and as such there will be those willing to offer it.

In the end, though, I suspect things tend to even themselves out. The problem with the BTC market right now is that, in terms of fiat currencies, it's trivially simple to manipulate. Anyone with 150,000 dollars/euros/pounds can pretty much do with the Bitcoin market as they please.

Under all that, however, the Bitcoin world continues to churn, the idea becomes better known every day, and slowly but surely (and especially after early 2013 when the payout drops from 50 coins to 25), the BTC value will rise. As it does, it will become progressively more difficult for anyone to manipulate the market.

Until then, though, keep posting notes on that refrigerator door... it's going to get pretty crowded there soon!

Un saludo.
1473  Other / Off-topic / Re: Bruce Wagner and the surrounding drama. on: August 31, 2011, 02:43:03 PM
I for one am grateful that this issue with Bruce Wagner was resolved.  The evidence of his prior crimes is overwhelming (yes I consider a conviction in a court of law overwhelming evidence), and if not for the principles of a free and open discussion (I agree the pedo thing was unfounded) this whole thing surrounding Bruce Wagner and his credibility may have gone on for month's causing massive damage to Bitcoin as a whole.

Instead now anybody can read the cold hard facts about Mr. Wagner (court records in many states, his own comments, etc.) and make a determination for themselves about his credibility.

We the Bitcoin community, should be grateful a handful of moderators put their butts on the line to uphold the principles of free speech.   Thank you.

Yes, and we as a community should therefore put this entire thing to rest... the sooner, the better.
1474  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 02:41:25 PM
What I am saying is, If there is an order for 10k BTC at 7.00, that means that when the price hits 7.00 my 10k will be excuted and the price will rise to say 7.50...
If YOU would've known that my order was there for that size, you might have placed an order right next to mine to catch those 50 points on the way up/ Transparency allows such judgments.

Yes, and while transparency is highly desirable for some, and under some circumstances, it simply isn't for others. Someone out there may not want to know there's such a huge pressure at 7.00 until he or she is ready to push forwards.

Some exchanges do not keep anything hidden, Mt. Gox does. There is no presumption of transparency (nor a right to it), unfortunately for some, fortunately for others.

If someone wants to keep it really hidden, they can put a note in the forums saying "I want to buy 10,000 BTC and will meet you at the nearest Starbucks... bring your big bucks"  Cheesy
1475  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 02:06:02 PM
IOC Order: http://financial-dictionary.thefreedictionary.com/IOC+Order

Iceberg/Reserve order:
An Iceberg order allows you to submit an order (generally a large volume order) while publicly disclosing only a portion of the submitted order.

A list of various order types:
http://www.interactivebrokers.com/en/p.php?f=orderTypes

Why would MagicalTux do that? Why not execute the order and disclosing the size of the order publicly? Why HIDE portion of the order??

I think when the order executes, then it becomes public, but the point is that a portion of the order is kept hidden up until it executes.

But I might be wrong.  Cheesy
1476  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 01:56:18 PM
There is nothing to get. Piper said I was Bruce, I laughed, then remember the text I sent him and posted it here for amusement purposes. Hope you enjoyed!

Maria.

I was being funny, btw, I know Maria isn't Bruce because Maria speaks Spanish and Bruce doesn't.
1477  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 01:17:54 PM
Part of me feels bad for Maria. Perhaps she's serious and wanted to be nice.

But a little part of me thinks Maria might actually be Bruce  Cheesy

I really have to stop coming here so much, it's playing with my mind.
1478  Economy / Economics / Re: Ron Paul and Bitcoin on: August 31, 2011, 01:12:23 PM
The non-aggression principle can be applied or ignored by both atheists and religious people. There is no monopoly on rationality and life is simply to complex to claim that you are rational on all fronts. Remember one of the least rational and most destructive systems ever was sold as "rational" and run by atheists, unless I've just misread this whole thing about the soviets and they were all closet Catholics.

Currently the truest and most consistent libertarian with any political power is a Christian named Ron Paul.

Ack, the old argument about the Soviet Union and North Korea being atheist.

Are you truly suggesting that the failings of communism had to do with their insistence on open and free enquiry? Is that what was wrong with communism? Is the real problem in North Korea that there are too many opinions being voiced, and that nothing is taken as an article of faith, or on the authority of the "dear leader".

The Soviet and North Korean versions of communism (as well as quite a few others, if not all) are essentially religious systems. In the case of the Soviet Union they did not believe in a supernatural deity, but they sure as hell believed in a long litany of natural ones... you'd typically find them leading he Communist Party.

The North Koreans don't even presume to do away with a supernatural deity. It's called Kim Il Sung. He's been dead for ages, yet he's still the official leader of the country. He has a son, who also has a son... it is, in fact, a Holy Trinity! As Christopher Hitchens so eloquently put it: At least you can fucking die and leave North Korea!

Every other aspect of how those communist systems were and are run is a carbon copy of the most established religions. Their hierarchical nature. Their obedience to the edicts of the "authority". Most importantly, their suppression of free enquiry and open discussion of ideas.

You want to find the counterpart to a theocracy? Don't look for it in the communism of the Soviet Union, North Korea or even Cuba. Go to Sweden instead.
1479  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 01:03:24 PM
Maria is obviously smarter than she looks. She does indeed want to buy bitcoins and she knows how it works.

1) Announce on forums that you are going to buy masses of bitcoins.
2) Bitcoin users respond sceptical and are saying that you probably want to drive the price UP, meaning you most likely want to SELL, not BUY!
3) Bitcoin users panic at someone wanting to sell massive amounts of bitcoins and start selling off their bitcoins before YOU do.
4) Bitcoin price plummets to $0.01 (which is quite close to its actual worth by the way)
5) You buy a ton of bitcoins for $0.01 each
6) ...
7) PROFIT!

@MT: Say hi to bruce Wink

Or... Maria is really, really smart, and wants to sell Bitcoins high. So she makes the original post, which is so childish no one will believe it. Bitcoin users are initially sceptical, but on reading the forum post by The Duke, realise this could well be a double psych, and start to BUY, not SELL.

Hope you have a really big, refrigerator, Maria, because it's turtles all the way down!
1480  Bitcoin / Bitcoin Discussion / Re: Insane amount of bitcoins on: August 31, 2011, 12:50:33 PM
Me and a few colleagues are about to buy 80,000 BTC from MT Gox and another 25,000 from Tradehill. Not to savvy on how exactly that purchase might affect the price but I figured if it is in fact affecting the price, then the least I can do is warn the community so they can place their proper orders. Happy Trading!

Maria.
LOL, gtfo

It makes me sad to read responses like this from HERO MEMBERS. What a waste.

Maria.

Agreed, that's a bit of a waste, but if that's what makes you sad, in the grand scheme of the depths of putrefaction this forum has been flirting with lately... well, you've either been asleep or away  Grin
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