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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
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on: April 20, 2013, 08:09:42 PM
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Sorry, that 1 minute red candle spooked the shit out of me. I jumped the gun on getting permission to post ridiculous pics. I'll go take my ritalin now...
Red Candles == Strictly Forbidden One minute candle? Dude, one minute anything when it comes to Bitcoin is a recipe for a heart attack. |
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303
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Economy / Speculation / Re: Government banning bitcoin??
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on: April 20, 2013, 07:39:29 PM
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Money laundering is already illegal. So they need to expand it's definition to include "participate in an distributed internet money laundery activity". It doesn't matter if your bitcoins are legally acquired and used. Some people use Bitcoin for money laundering, that is obscuring the proceeds of crime and by participating in the bitcoin network you are a contributory. Just like every bit that you send online is legal but participating in a torrent swarm is illegal. There is no constitutional right to financial privacy and if the law does not already cover Bitcoin they will expand it to cover it.
This means that you can't run an exchange, you can't wire money to an exchange abroad, you can't meet in a dark alley to trade bits for cash and you can't connect to the Bitcoin p2p internet network. All punishable by 2 to 5 in the fuck-me-in-the-ass prison.
Can they ban Bitcoin ? No, just as they can't ban drugs. People can still grow weed at home. It's just that no sane people will do business in that particular field of activity. We're just under the radar right now, that's all. They will come down on it like a ton of bricks when Bitcoin becomes more than a nuisance.
Yup, that's how they made drugs go away, don't you know? |
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304
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
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on: April 20, 2013, 06:16:21 PM
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Seems like a rocky road but so far the trend has generally been up. Started the day at ~120-ish, and now its $124-ish. It'll be nice if we can break the $137 level though. That's key.
124/120 gives you 3.3% per day. With such boring rate, we will reach my target of $300k by... ...Christmas? Yes. This year. "Mankind's biggest failure is our inability to understand the exponential function"  |
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305
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Economy / Speculation / Re: my intuition says: we're sitting on a rocket about to be ignited
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on: April 20, 2013, 06:15:09 PM
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P.S. We are about to embark onto watching a new spectator sport called competitive adoption of Bitcoin.
It is exciting to watch, no? It is already exciting. I even came up with the name for it Competitive ADOption Of Bitcoin -> cadoob. glub0x@ the helicopter is just starting, the blades are just beginning to spin, those guys do not know yet that they are going to have to ride it and that they will be blindfolded when in the air. Vladimir, you're a bright fellow, so we'll forgive you the cadoob faux pas... It's CADO, man! How could you miss that? |
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306
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Bitcoin / Armory / Re: Is there a disadvantage to not upgrading?
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on: April 20, 2013, 06:10:49 PM
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At the moment, none of the upgrades are critical. You should/need to be upgrading Bitcoin-Qt/bitcoind, because you risk forking yourself off the main chain after May 15. But the Armory upgrades are usability and feature upgrades, not security upgrades.
You should receive notifications about new versions through the app, when you restart. It will show you what has changed, and you can decide whether or not you want to upgrade. If the upgrade is important, I'll make it the first item in the list of changes: i.e. "Security-Critical Update. Please upgrade immediately!". So far, I've never had to do that...
The next major update, will be the one that dramatically reduces RAM usage and startup time. That is an important upgrade for many users. But it's still just a usability thing... For now, you should be fine with any version past 0.86.3, which included some upgraded code for dealing with new blockchain format in the latest Bitcoin-Qt.
Thanks a bunch! |
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308
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Economy / Speculation / Re: R.I.P. double digits
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on: April 18, 2013, 11:38:06 PM
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About an hour ago there was the last chance to see BTC/USD rate bellow 100 on MtGox. No more double digits ever. Sorry, proudhon.  Proudhon's a bull now. He switches sides with each bubble. |
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309
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Bitcoin / Press / Re: 2013-04-18 FoxBusiness - Bitcoin Buzz Draws Western Union, MoneyGram
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on: April 18, 2013, 08:59:57 PM
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Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?
I'm not so sure the shooting your own foot analogy applies. Bitcoin could save WU millions in infrastructure (if they discarded their incredibly antiquated network and switched over to the blockchain, for instance). And the overwhelming majority of the population of the planet does not have access to the items necessary to obtain bitcoins themselves (access to the internet, the ability to transfer money into and out of an exchange, a way to securely hold the coins and so on). If you assume that Bitcoin isn't going to die any time soon, piggybacking onto it might just be the smartest thing Western Union and Moneygram could do. |
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311
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Economy / Speculation / Re: my intuition says: we're sitting on a rocket about to be ignited
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on: April 18, 2013, 08:32:00 PM
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Rocket Refuel - Check
All systems prepare for liftoff
Exactly. Insane amounts of fiat popping up on Gox's orderbook, far more than the amount of fiat when we were > 200 per coin, and still going up fast. Fiat available is not the driving factor behind the price, though. BTC available is much more reliable as an inverse indicator. Nevertheless, it's nice to see about 21 mil on the orderbook. |
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313
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Economy / Speculation / Re: The "Vladimir Club"
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on: April 18, 2013, 01:52:09 PM
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Strange thought. So what if there is only 1000, 500 or 100 richer than you - - What kind of thoughts does this bring into you?
Very sad. First is the way to go. hahaha I like that! He who dies with the most bitcoins wins! |
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314
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Economy / Speculation / Re: End of BitCoin Exchangers
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on: April 18, 2013, 11:52:25 AM
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Yeah, the thread is a troll, lol. But I agree with the headline. Bitcoin trading will reform into a two-tier system where BTC100+ transactions will be happening in the dealer network (every professional or large investor may enter but noobs will be kept out by certain requirements), and the retail trade is between a local OTC merchant and a customer.
I think next autumn, the majority of the trade will not happen in exchanges any more. This is a bold call, considering how sovereign the volume of Mt.Gox was last weekend. But they failed the very last time. The old school will not forget, and will discreetly withdraw their business from the casino.
Perhaps it was Mt.Gox's plan all along. If I were incapable of doing the very thing I ended up doing (by a fat chance, such as a 2000% increase in 3 months), I would probably just rake in as much as I could, and keep the service level so bad that it just dies away naturally.
In general terms I agree, but I'm leaving a sliver of hope still open that the MtGox/Coinlab integration will work as intended. |
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316
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Economy / Speculation / Re: 100!!!!
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on: April 17, 2013, 06:48:08 PM
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I think the price probably will pop back over $100 in the next week or so, even if it's only temporary in the short term. Longer term, yes, I think we're headed more solidly back over $100.
The fuck have you done with Proudhon?  Or what universe exactly did I wake up in this morning... this multiverse thing is confusing. |
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319
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Economy / Speculation / Re: Rally?
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on: April 17, 2013, 12:05:23 PM
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Not even Mugabe could be that dumb. This is a joke.
Don't get me wrong, Bitcoin is a really, really good idea. But why would a country adopt a currency that could be controlled by any of a number of people holding a significant portion of it (like the Winkleviis)?
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