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662
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Bitcoin / Bitcoin Discussion / Re: OFFICAL .GOV SITE : They use Bitcoins to purchase child pornography. (PDF)
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on: March 15, 2013, 06:44:28 PM
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It's a glossary to some other document. There are also entries for "wifi", "chatting" and "cloud computing"
Still though that's how they describe bitcoins?!?!? It's not innacurate. They could also have described US dollars the same way, but everyone knows what a USD is. It's a GLOSSARY, it's meant to explain to the reader of the document the meaning of words the reader may not recognise, in the context of the document itself. This isn't how the US Government describes Bitcoin, this is how Bitcoin applies in the narrow context of one report on child pornography. |
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665
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker
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on: March 15, 2013, 05:06:09 PM
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Weird that bids are being placed but at lower prices... thats just not right... or they are waiting for a fall...  My guess is that a majority of these high-volume low-priced buyers are people who dumped during the flash-crash but were unable to buy back in at a lower price point. Right now the price is holding steady at where they sold so they do not see an immediate need to buy back in. Instead, they are placing low buys hoping to get lucky one way or another. These buyers are keeping an eye on the price and are ready to buy back in as soon as the market shows any sustained upward pressure. tl;dr if we break the $48 wall these bids will become buys and we'll explode up. Yeah, because it has a lot of sense to sell scared of a "flash crash" with no importance and then put a $2million bid lower, just to wait if someone buys a 10k btc wall??? So then you can buy higher because of a price explotion??? if i had $2million to buy btc and was a bull and knew that buying up that wall will cause an explotion ill buy that wall myself, and not "hope" to buy lower.... Maybe someone's still holding out a bit of hope for the weekend dip, and if it doesn't materialise by late Saturday, or early Sunday, the wall will start to creep up. |
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667
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker
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on: March 15, 2013, 04:53:12 PM
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Weird that bids are being placed but at lower prices... thats just not right... or they are waiting for a fall... My guess is that a majority of these high-volume low-priced buyers are people who dumped during the flash-crash but were unable to buy back in at a lower price point. Right now the price is holding steady at where they sold so they do not see an immediate need to buy back in. Instead, they are placing low buys hoping to get lucky one way or another. These buyers are keeping an eye on the price and are ready to buy back in as soon as the market shows any sustained upward pressure. tl;dr if we break the $48 wall these bids will become buys and we'll explode up. By then it would be too late, except for those who push the button first |
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668
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Economy / Speculation / Re: Whats up bears????
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on: March 15, 2013, 04:51:20 PM
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You just need to make a What's Up Pizza Rolls?! post to finish the trifecta.
next one is: Whats up mtgox??? wasnt coinlab going to bring big wallstreet players and stuff like that? That's supposed to launch March 22... but glad to see you're up on the latest  So you are telling me that they have all the big player ready to just go in on 22 and until 22 no one will buy or sell??? I'm not telling you anything beyond what's in the Coinlab website. But if I were into conspiracy theories, I *could* theorise that MtGox/Coinlab are trying their best to keep the range narrowly to around 46.90-47.50 until the merge. |
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669
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Economy / Speculation / Re: Whats up bears????
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on: March 15, 2013, 04:26:32 PM
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You just need to make a What's Up Pizza Rolls?! post to finish the trifecta.
next one is: Whats up mtgox??? wasnt coinlab going to bring big wallstreet players and stuff like that? That's supposed to launch March 22... but glad to see you're up on the latest |
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670
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Economy / Speculation / Re: Whats up bulls???
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on: March 15, 2013, 03:57:10 PM
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the market has spoken: 47 +/- 0.3c forever.
Or at least for the next few hours... let's not forget, Proudhon has spoken |
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671
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Economy / Speculation / Re: is the goal of the manipulators to make the price boring?
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on: March 15, 2013, 02:11:43 PM
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Just wait until the Coinlab+Mt. Gox merger is complete.... hello wealthy US investors I wouldn't be at all shocked if this calm before the storm was engineered from the MtGox/Coinlab camp, just to give the appearance of stability for investors to jump in after the deal comes through. |
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673
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Bitcoin / Bitcoin Discussion / Re: What Keeps You in BTC for the Long Haul?
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on: March 15, 2013, 01:18:23 AM
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I'm in bitcoin for a simple reason
I think it was cbeast here, who said: "It's a really, really good idea."
I like those.
It was me, though cbeast may have said it too. Bitcoin is three things rolled into one: 1) a currency 2) a payment processor 3) a store of value If it achieves 1% of its potential as any one of those three, I'll be a happy person and the world will be a better place. That's why I'm in it for the long haul. |
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676
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker
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on: March 14, 2013, 08:21:34 PM
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Remove that f***ing wall !!! Not all walls push, some pull. Say you're someone who wants to invest heavily in BTC, but you don't want to drive up the price while doing it... well, now you know how far up the price will go, just put in your buy order and you're done. |
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678
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Bitcoin / Bitcoin Discussion / Re: Is Satoshi Dead?
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on: March 14, 2013, 06:40:37 PM
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The actual Satoshi has not yet even been born. And the time machine inventor is just a glimmer in his mother's eye.
What do we want? TIME TRAVEL! When do we want it? IT'S IRRELEVANT! |
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679
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Bitcoin / Press / Re: 2013-03-13 Zerohedge : Argentines Escaping Capital Controls With Bitcoins
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on: March 14, 2013, 04:47:20 PM
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Things like this will help silence the gold bugs and all the "no tangible value" critics. Well, maybe not completely.
Yes. Contrary to the recalcitrant ZH goldbug narrative, anyone who has ever visited Argentina knows that gold is rather illiquid there, definitely not money or even a useful medium of exchange, and silver is not even on the radar. At best it's a store of value used by a savy and tiny minority. Argentina went off the gold standard in the 19th century, there isn't even a vestigial memory of gold as money for most people under 50. There are no corner coin shops or big online dealers to provide liquidity. The favored alternative currency by far is USD, with EUR a distant second. Ease of use and network effects trump everything else. And that's why I expect that Bitcoin, and only Bitcoin, has a realistic chance of unseating USD for black market transactions in the 3rd world. Being tangible is not an advantage, it's a flaw except in extreme apocalyptic circumstances. That's why any non-idiot goldbug will inevitably grasp the necessity of saving in metals and BTC. Someone I know sends money to their family in Argentina all the time. Used to do it via the banks, losing about 25% in the process due to the difference between the "official" rate of exchange and the actual one. Switched to Bitcoins now for the last few months and singing its praises. |
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680
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Economy / Speculation / Re: The rally is over
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on: March 14, 2013, 04:35:02 PM
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I think we're headed to $60+ in the near future myself.
Sounds good. Where do you speculate the $2.5+ million to do this will come from? The same people hopping on the bandwagon again or a new influx of users? There seems to be a pretty constant stream of new users coming from a variety of sources. So, I think it'll come from a continuous influx of users. There's already around 8 mil on the Gox order book. |
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