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Do you write for the guardian in the UK? I know an author who writes baseless tripe you'd like.
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The real problem here is that nobody has ever witnessed an entire financial system convert into something else. Not just tangible coins to another round metal blank stamped with a different design - I'm talking complete conversion to something virtual.
We are witnessing the inevitable progression of a complete system change. That is why valuations won't make much sense to outside observers. Much like a person being pulled into a black hole, the physical laws of the surrounding space start to change in scary and unknown ways.
The entire financial sphere is being sucked in by the bitcoin singularity, with a huge event horizon that nobody in the current system can see past. By the time the last holdouts are reluctantly pulled in, we'll have jump-started a new economy, and be transacting in a currency that is beyond centralized control.
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I see bitcoin as the small channel in an overturned hourglass, allowing stolen wealth to be redistributed to those who have been gamed by the conventional financial system and flawed sovereign currencies. Each second that goes by, the old currencies get replaced by the new.
One day the old barons and financiers will wake up, and there will be no more sand left up top, just a nice pile at the bottom in bitcoins.
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Its like an alien coming down to our planet and declaring "Oxygen is worthless." Sure, maybe to an alien that has a different metabolism oxygen is useless - but to all of the organisms that inhabit the planet, oxygen is vital.
This 'fool' is trying to analyze bitcoin like its some scrip issued by a corporation, and that is his first mistake of many. Bitcoin will absolutely cannibalize the existing financial industry, they just can't see it yet. So while they sit there and declare bitcoin is a useless tool, it will be eating them from the inside out - until a useless husk is left.
I honestly believe that over time, bitcoin will make every sovereign-issued currency look like 2-ply toiletpaper. People will laugh when you talk nostalgically about dollars, pounds or yen.
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You didn't ask *me* but I answer, anyway: I'm against it. I find bitcoinity's bottom chart much superior with respect to "at a glance" and "fits completely in the frame". If you really want to see gobs of numbers, then http://bitcoin.clarkmoody.com/is, well, right next door  FWIW, I also like bitcoinity's charts better than the candle-stick charts on claarkmoody... Agreed. The simplicity of comboy's design is why I use the site - if I wanted a table of numbers I'd go elsewhere for them. |
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When the exchange has lag, a little window pops up between the price and the history of trades. This spoils the browser window because it extends the content downward, producing a vertical scroll bar. Can you please move the lag window to the header, which would not disturb the otherwise beautiful geometry of the site. Like this. https://i.imgur.com/Ocd9fev.pngI disagree. I like the lag indicator exactly where it is - below the price and bid/ask, because it tells me that the last tick is 'stale' from Gox. |
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Looks like the title date is wrong btw.
Thanks, fixed. Exponential growth in new articles is making me lose track of time... Great job, by the way - its getting to the point where it is hard for me to finish everything in a single sitting. I remember checking in here and having maybe five articles to read in a day. |
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This infographic also enjoyed the top 'bumper' spot on Zerohedge, who has a crapload of readers. A good number of them manage funds and work sell-side and buy-side desks. The traders know about it, and this would make some excellent brochure-filler graphics. (Or perhaps prospectus? One can only wonder.)
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This was so horrible I had to post something: The muppetry exhibited in this article is beyond farcical - it plunges to the depths of the murky Thames, rooting about in the muck and mire. Amir Taaki is not the "project leader" of anything but his own projects. The Bitcoin Foundation is the official core development team. A few seconds on your favorite search engine would've confirmed that. Bitcoin was created in the spirit of monetary freedom, not subversion as the article snarkily implies. Freedom from those that have flawed monetary policies, freedom from the meddling of politicians and central bankers. I'm sure quite a few in the EU would love their interference to stop. It isn't "created by hackers", it is given value by verification processors who work on cryptographic proof-of-work problems which ensures bitcoins can't be counterfeited. It is controlled by algorithms, not punters in basements. (How bitcoin works: http://spectrum.ieee.org/img/06Bitcoin-1338412974774.jpg)The rest of your article throws bitcoin in with the pound, dollar and yen as a way to deal in 'shady' markets. Oh my, people trade with cash and buy things governments don't want them to? Oh, the horror! Welcome to reality, where drugs and other consumables are purchased with a tenner crossing palms. This isn't unique to bitcoin. But of course in your mad dash to cover bitcoin with the most 'dirt' possible, you feel the need to mention the frailties of third-party services (thanks, we already know about that) and somehow infer that it means bitcoin is frail. The protocol hasn't been breached, just some badly configured services. In short, your poorly researched (assuming you did any, which I doubt) tar-and-feather 'hit' piece on bitcoin only exposes the weakest link - the author that had the audacity to publish it in the first place. Try to uphold some kind of professional standard, will you? It's awfully embarrassing to see in public. Who knows if they'll let it sit there - I couldn't hold back my disgust for this horrible author or her view on bitcoin. |
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The author reminds me of another quote: You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it. Spot on, DeathAndTaxes. I think this every time I see someone holding up their sovereign currency as a symbol of what is 'right'. Bitcoin is going to cannibalize their entire system, and they have no way to stop it. |
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Nice to see you posting interesting things again, chodpaba.
My personal analysis seems to converge with yours - though I'm reluctant to post a chart with the indicators I've been working on for the last ten years, for obvious reasons. Right now, we're in a bull phase that has some indications of continuing until at least May 1st. (Using my timing indicator, that is.)
Around that point, plus-or-minus a few days, we're likely to start a new bear phase. The only problem is - I can't estimate magnitude. So it may be your classic 'panic' decline, or a relatively soft correction that looks more like a sagging plateau. Its a very difficult problem to solve.
Keep us posted, it is fascinating to look at.
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I've often wondered what would happen to precious metals if the earth got smacked by a large platinum/gold rock. Like piper said, there are mountains of rare metals just orbiting the sun in the Oort cloud.
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The interesting thing to note about bitcoin valuation is, at any time this could've gone to zero. At least in the early days. I feel we'll be into next year and someone will pull out the "Well its still volatile and..." ... Yeah, but we've existed for nearly four full years - that's not bad for someone's crypto currency experiment.
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Its funny, on a lot of these news stories I don't have to be the one to jump in and fix the mess - a lot of people are doing a great job and I don't even recognize them from the forums here.
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Some of the more conspiracy-minded have clued into the global nature of bitcoin and think its going to be part of some evil cabal's power-grab over everyone.
Of course that totally falls on its face since there isn't any one person controlling anything - more of a global consensus than a secret circle of 'rulers'. But I suppose they need to demonize bitcoin somehow, and that is a pretty easy jump for them.
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That is sweet. Can you post the high-resolution originals somewhere?
Appreciate it.
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I'm glad you're admitting you troll, that is the first step towards getting some kind of help. (Maybe.)
As for not calling out Pirate - There were plenty in that particular dogpile of a financial scam saying that he was a fraud. I steered clear because I knew it was too good to be true.
As for Tradehill - I know what their service is, and what it has done for me. I don't need your particular flavor of creative history to make that determination.
If you don't like them, fine - go back to playing Satoshi Dice with the rest of the muppets.
Fuckwit, learn to read. Then learn to comprehend what you've read. Hit a nerve, did I? How tragic. Keep spewing your bile, it seems to be the only thing you're good at. |
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I don't get the johnny-come-lately trolls coming out to slander Tradehill.
I used them before they closed down, and I never had any problems. If it were a scam, I would've been hit on the trades I made.
That never happened. As for allegations about running away with funds, dogs and cats sleeping together and other rantings -- my experience doesn't mirror this creative fiction.
Glad you guys are back.
For one, I have no idea where you get off with the "come lately" and "troll" bullshit, but you need to check yourself. I don't recall you having said anything useful at any point, of which a good example would be calling out the pirate scam (which, incidentally, a bunch of "come earlies" were supporting like it was their family, and which incidentally I called, nobody else). For the other, just because they stole from the unknowns and paid out their friends (same model as Hash King, Amazingrando etc) and generally influential people does NOT make them legitimate. It makes them the exact opposite of legitimate, and for that matter this is a wide open scam model (collect money from everyone, pay out the big dogs, walk away). Participating in something like that is not only immoral, not only very damaging to Bitcoin, but moreover I hope will land you in jail, which is where this sort of crap belongs. For that matter, Jared has to come up with the results of his alleged dwolla lawsuit which magically disappeared, not with more schmoozing. I don't think this can be said enough times: associating with scammers will fuck you over. It has happened a million times on this forum already, it never seems like it's going to be the case this time, bla bla bla. It always is the case. Just don't. I'm glad you're admitting you troll, that is the first step towards getting some kind of help. (Maybe.) As for not calling out Pirate - There were plenty in that particular dogpile of a financial scam saying that he was a fraud. I steered clear because I knew it was too good to be true. As for Tradehill - I know what their service is, and what it has done for me. I don't need your particular flavor of creative history to make that determination. If you don't like them, fine - go back to playing Satoshi Dice with the rest of the muppets. |
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Watching that CNBC video was like watching someone's grandpa operate a smartphone for the first time. Other than the guy who was using bitcoins, the other two had zero clue - nor did they exhibit the slightest understanding of their topic. In other words, typical 'journalism' on CNBC.
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I think African involvement is even more exciting than most countries, due to the draconian systems they have in place in different regions. This could be the start of something really big.
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