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321  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 05, 2013, 08:23:38 PM
http://www.youtube.com/watch?v=CdVVECKKSXo

Ahhhh yeahhhhh. Damn that was refreshing to watch.
+1
"Gold for nerds." lol!

"Valuable part of a diversified portfolio"... I've been waiting for that one for about two years.
322  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 05, 2013, 03:11:28 PM
I'm very wary to try and buy back in on a Friday. Am I alone in this?

Of course not, which is why those 12 mil are sitting there  Cheesy
323  Economy / Speculation / Re: BREAKING-LEAK:Identities+emails of rich hiding cash offshore $32trillion's worth on: April 05, 2013, 02:56:40 PM
When the names are finally released it will be fascinating to see all the (champagne) socialists on there.  No doubt the lefties will make up the bulk of the list, but "capitalism" will get the rap.
...
Would not surprise me.  Most of the highly intelligent people I know are pretty left-wing, and it is easier to get ahead if one is bright.  Most of the right wingers I know are dolts who are in debt up to their eyebrows.  OTOH, lots of silver-spoon kids grow up to be right-wingers also and they may account for the bulk of the capital.
Now left-wing wealthy folks are probably less inclined to be tax cheats, but there will certainly be many exceptions to the rule.

That's funny, the wealthy and intelligent people that I know are either right-wing or libertarian and those with the least money, state-dependent are usually more left-wing. Some of them are middle class, but none of the wealthy people that I know or have met personally are left-wing (those left-wingers who earned the money due to cronyism, nepotism or corruption which is not a rare occurence in my country are not counted here).

Sounds to me like you are both making gross generalizations.

The whole left-right dichotomy is broken if you ask me.


Left-right stopped meaning anything about 20 years ago.
324  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 05, 2013, 02:55:19 PM
Bid sum almost at 12 mil... just sayin'
325  Economy / Speculation / Re: A year from now (2014/04/05) on: April 05, 2013, 02:46:12 PM
If the price grows at 5% weekly starting from 2013-01-01, $320
If the price grows at the lifetime average weekly rate of 7.3%, $1400
If the price grows at the rate it has achieved in 2013, $1.1 million.

Your maths is wrong. Doubling time is roughly 70 divided by the percentage increase per cycle. 70/5 = 14. That puts us at $260 in 14 weeks, and $520 14 weeks after that.

Compound's a bitch  Grin
326  Economy / Speculation / Re: A year from now (2014/04/05) on: April 05, 2013, 02:32:29 PM
Hm, let's say $50. After a bubble, a crash, and some recovery. And $500 by 2015/04/05

Nah. By 2015 we're either established or dead. Bitcoin has exploded so much in the media lately, it's not likely to simply fade away. In the next few months the big money will have to decide whether it chooses to move in or not. The bad news is that big money is notoriously fearful. The good news: It only takes one, the rest will follow.
327  Bitcoin / Press / Re: 2013-03-05 CNBC: Bitcoin Only Good for Narco Dollar Traffickers: Pro on: April 05, 2013, 02:21:28 PM
Yep, trolling. Kind of strange how the financial press seem to have all jumped on the FUDwaggon together, any tinfoil hat wearer would think they're trying to keep interest down until they've had a chance to get in themselves.

I think this might be a case of "Never assign malice to that which can be successfully explained by incompetence". FUD is, among other things, much EASIER. It's easier to write, easier to understand, easier to sell.
328  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 05, 2013, 02:19:42 PM
Bids just jumped up and close to 12mil.  Things will stay interesting today I think.

Better bring out the power hamsters!




All Gox really has to do is switch to the high protein hamster food.
329  Bitcoin / Press / Re: 2013-04-05 Al Jazeera English - Inside Story : Cashing in on the Bitcoin boom on: April 05, 2013, 02:07:56 PM
The guy from the Spectator was developing some really good questions about the implications of Bitcoin. We need to engage those kinds of questions thoughtfully, rather than responding like some crazed evangelist.

What we need is for Taaki to keep his mouth shut, or at the very least for the rest of the Bitcoin community to successfully divorce ourselves from him. I doubt it will happen, though, but here's hoping.
330  Economy / Speculation / Re: A year from now (2013/04/15) on: April 05, 2013, 12:55:19 PM
Being wrong by two orders of magnitude isn't something totally unheard of.  Smiley

It's also not a trivial error  Cheesy

I've seen documentaries about cosmology and astrophysics where they actually call it that. And when dealing with astronomical gains and losses that actually makes sense too.

Hah... you're right, Proudhon was bang on with his predictions. He always is. You just have to adjust for the cosmological constant  Cheesy
331  Economy / Speculation / Re: A year from now (2013/04/15) on: April 05, 2013, 12:34:33 PM
Being wrong by two orders of magnitude isn't something totally unheard of.  Smiley

It's also not a trivial error  Cheesy
332  Bitcoin / Press / Re: 2013-04-05 Al Jazeera English - Inside Story : Cashing in on the Bitcoin boom on: April 05, 2013, 11:42:24 AM
Great to see such a long piece with well informed arguments from knowledgeable people but imho Amir needs to polish his interview skills for this level of publicity. Nothing wrong with what he's saying or his appearance but the way he presents it looses a lot of credibility, if he could get together with Trace on how to put points forward he could be a major asset in presenting Bitcoin as a system for everyone.

Or not.  Amir's history with bitcoin (i.e. the bitcoinica consultancy debacle) is a huge scar on his reputation and I'm baffled that that isn't dug up by the reporters interviewing him.  His active incompetence helped along the loss of tens of thousands of bitcoins.

Agreed, the entire conversation between Trace and Amir should go like this.

Trace: From now on, I will talk about Bitcoin, if a journalist contacts you, give them my number.
Amir: OK.

333  Bitcoin / Press / Re: TODAY: Trace Mayer on Fox Business - SOMEONE RECORD IT on: April 05, 2013, 02:08:47 AM
WILL SOMEONE UPDATE THE DATE?

Before Kira collapses into a twitching pile of nerves on the floor, please?
334  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 05, 2013, 02:06:11 AM
$1M bid walls from couple of days ago seem to be back:

5000 BTC @ $100.20
5250 BTC @ $95


Trying to push the price up? Or trying to bait it down?

Yes
335  Economy / Speculation / Re: BREAKING-LEAK:Identities+emails of rich hiding cash offshore $32trillion's worth on: April 05, 2013, 12:52:58 AM
Wouldn't suddenly releasing even a small portion of that cause massive inflation? Since its hidden away and not interacting with the economy right now, its not part of the money supply, but if the owner decides to spend it or the government takes it its suddenly in circulation.

Hmmm... I doubt this means there are 32 trillion physical dollars being stashed away somewhere. But it's true that if all this money suddenly resurfaced, it would become the great grandmother of all QE's
336  Bitcoin / Press / Re: 2013-04-02 Business Insider "Bitcoin ATM Founder: We Already Have Orders From... on: April 04, 2013, 07:40:54 PM
I can't wait to have one of those in my city!

I want one in my city, and another in the city where my dad lives. That way I can go to the one near me, deposit my fiat, transfer the coins to his wallet, then he can go to his and get his fiat out... and Western Union can kiss my sweet, multicoloured ass  Cheesy
337  Bitcoin / Press / Re: 2013-04-04 - Is Bitcoin currency safe? Maybe, but think of it as a commodity on: April 04, 2013, 06:44:20 PM
It's a commodency  Grin
338  Bitcoin / Press / Re: 2013-04-04 Bloomberg 'Sorry, Libertarians, History Shows Bitcoin Isn't Future' on: April 04, 2013, 06:39:02 PM
I reminds me about the well written article about Bitcoin on bloomberg that was posted not a long time ago.
http://www.bloomberg.com/news/2013-03-22/bitcoin-virtual-currency-enters-real-world.html

So if bloomberg is controlled by some entity... why did it post something really positive about Bitcoin then?
I just can't figure this..... anyone?

Because some times large corporations have trouble communicating a fart between adjacent stalls in the bathroom.
339  Bitcoin / Bitcoin Discussion / Re: Oh Noes! Bitcoin has been hacked! on: April 04, 2013, 03:39:24 PM
We stumbled all the way down to $40 above the price at the start of the week... my kind of stumble, really.
340  Economy / Speculation / Re: btc crashing, the great sell off has begun on: April 04, 2013, 03:37:33 PM
looks like some people were screwed over in this thread Grin
It's amazing isn't it?  These "SELL NOW!!!" threads work again and again. People panic so easily and liquidate. Then the thread starter swoops in and buys up bargain coins.

Who are these "PEOPLE" you speak of, young fellow? One does not sell bitcoins!

Oh, and this crash brought us all the way down to about $40 higher than we were on Monday...  Grin
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