NXT is the bitcoin of PoS cryptocurrencies. You can be an early adopter and buy now at a few cents, or wait and buy later at $1+. You can clone it, but you can't clone infrastructure/network/websites. Same goes for Bitcoin, it's ahead of altcoins, because they can clone the code, but can't clone infrastructure.
That's true, but it also appears the controversial distribution pushed away a significant number of users. I'd just like to see if someone else can come up with another way to distribute. I'll probably invest in both. I like this 100% PoS idea.  |
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weekend rally?
I'll be happy if it just stays above 600 during the weekend. |
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I'm good with a NXT clone with a different kind of distribution. Read suggestions of a PoW then changing into PoS. Thanks. |
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This altcoin has caught my interest. I was strongly thinking of making an altcoin with the name "Bleh Bleh" Credits. I grew tired of "Coin." In order for us to grow we must get away from these alt"coins." Thank you for doing this. On top of that you're not using a ridiculous name that's hard to remember. About the market, are you allowed to sell altcoins? haha What's the approximate time to fully mine all coins? |
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Litecoin about to cross 0.0283 BTC per LTC at BTC-e?
Litecoin to meet Bitcoin at 135 USD?
there X4 more litecoin then bitcoin it offers 0 innovation its expecting a strong dead cat bounce because thats just how ridiculous crypto VS fiat is that is all. I thought this was going to be BTC comics page. Disappointed. |
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Is http://trading.i286.org/ still around? I'll take one with bitstamp, bitfinex and BTC-E. Willing to donate. Watching dumps and pumps just isn't as exciting.  |
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Does anyone here have a testimony, or more importantly, a bad experience using Moneypak?
If I sell BTC for moneypak, and then cash it out to my paypal then withdraw it to my bank, will I have a problem?
If I use a prepaid visa card, and withdraw the cash through an ATM is it an issue? If not, where can I get cheap or free prepaid visa cards that are ATM compatible?
I have not heard of their being any problems if you submitted all your personal info to PayPal. Edit: Looks like you're not allowed to withdraw your own funds if you submitted your own Money Pak. https://en.bitcoin.it/wiki/MoneyPakI love how PayPal integrated Money Pak yet no one is using it the way PayPal intended. haha Looks like this too. https://www.moneypak.com/RefundRequest.aspx |
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I apologize if some of my mining terminology is off. Is there an altcoin that exists where the coins/block are random like luckycoin, but dependent on hashing speed? Something like: Awesome Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 5,000 to 10,000 range. Ok Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 2,500 to 5,000 range. Crappy Hashing Power: Block Reward 1 to 10,000 coins - Higher probability of 1 to 2,500 range. Conclusion: I'm hoping this will entice the Average Joe to keep mining who doesn't want to be bothered with: 1. Mining the most valuable altcoin of the day. 2. Joining a pool. 3. Mining BTC and having no chance or joining a pool. 4. Still getting a little something regardless of difficulty and still a chance to "win lottery." Basically something easy and simple like Dogecoin (But no 5% inflation to keep coins valuable), random block rewards of luckycoin, mining that allows the Average Joe to always get something with probability of huge coin rewards. Back when mining was integrated with the BTC client. Just one nice, simple package!  |
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I decided I would take one for the team and sell some BTC, this usually triggers an upswing immediately afterward. You're welcome!  yep it worked, made me smile but i'm sorry for your (hope small) loss, unless you were just joking  I just sold 0.66 bitcoin with @Coinbase! Just some to pay bills. How long does it take to get your money? I've wondered if normal international wire transfers would be about the same speed. But if Coinbase takes just a few dollars for small transactionsthen that would be ideal too. |
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So will BTC be on the cover of the next Newsweek?
Either Satoshi or Bitcoin will be Time's man of the year.... hehehe  By the way, what is CCMF? Is it "Choo Choo Mother Fucker?" What about Mark? haha I wonder if mainstream knows Mark Karpelese more than Satoshi. |
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Chinese Slumber Dinosaur prediction for Friday Mar/07
So are we in a Velociraptor or Glyptodon market? |
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So will BTC be on the cover of the next Newsweek?
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Wow. That's depressing as hell. Only 28 too. Too young. Just too young. |
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looks like we still got a few bears that think they know better, bears prepare to wake up dazed and confused as you look upon other flag pole formation and price at 741.POWNED!!!! This looks like the same scenario as when I traded in December. It's bouncing between 650 and 700. Well, I'll wait until 680 to 700 and sell. Then buy back at 650. End up going to sleep. Sold at 700. Wake up at 750. |
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bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
If bitcoinbuilder went to 0.9, how many people would be able to sell at this price? Bitcoinbuilder is now a fake market because noone can possibly sell at their price EXCEPT those who have already transfered their goxBTC over to bitcoinbuilder before the close. You can tell just by looking at the extremely low volumes. Plus, I believe the bitcoinbuilder admin is taking a 4% fee on each trade, and the 2% realBTC side he converts into goxBTC he claims, so effectively he is subsidizing it. 0.114 now. I don't think anyone buying right now is thinking of selling now. They intend to in the future. Basically price has gone from $20 to $55. That's the best "altcoin" in the last week! Edit: 0.12 now! |
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bitcoinbuilder rallied to 0.107 hahaha. that can't last long.
I don't even understand why it rallied to 0.107. Was it because it was civil rehabilitation rather then bankruptcy? :p |
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My condolences to everyone who lost money on Mtgox. But I'm still curious as to why the price went from $1000 to $100. For those of you who sold in that range, what was your reasoning for doing that?
This is the one piece of the puzzle that took me the longest to come up with a logical explanation for. After MtGox disabled BTC withdrawals, I expected the premium over BitStamp to disappear PLUS a bit more to reflect the fact that limited fiat withdrawals in yen and euros were still possible. But if I had fiat on Gox, I would have deployed all of it when the price premium was 20-30% below BitStamp. I simply don't buy the "it's easier to sue in USD" to explain the price dropping under $100! My explanation for the dumping down below $100 follows from my theory (see links below) that Gox had been running a fractional reserve in bitcoin since 500,000 - 1,000,000 BTC were stollen in 2011: https://bitcointalk.org/index.php?topic=488058.msg5397869#msg5397869https://bitcointalk.org/index.php?topic=492393.msg5438572#msg5438572The theory states that Gox was using client fiat funds to purchase bitcoins from other exchanges and individuals in order to keep up with bitcoin withdrawals. Prior to disabling bitcoin withdrawals, they had, say, $150,000,000 in client funds sitting in USD IOUs but only $30,000,000 in actual cash. If this fact was revealed during bankruptcy, it would have been clear-cut fraud and Mark would be doing jail time: how could you explain $120,000,000 in missing cash?? So, when Mark knew it was over, he began selling fractional reserve GoxBTC from multiple alias accounts (to make it look like real customers were selling). He drove the price so low, that most people converted their USD funds into GoxBTC. He kept driving the price lower and lower hoping that enough people would convert into GoxBTC so that he could rebalance the USD funds owed to customers with what was actually in the Gox corporate bank account. He drove the price so low that people actually wired additional funds to Gox further reducing his USD solvency gap. But it looks like it wasn't enough. I think the bankruptcy filling declares $50,000,000 in fiat liabilities and $30,000,000 in cash. But my point is that if he had gone bankrupt prior to dumping all those bitcoins (that didn't really exist), the fiat deposits owed to real customers would have looked ridiculous and screamed "fraud." In conclusion, the price was driven low by Mark dumping GoxBTC to entice GoxUSD holders to transfer from USD into GoxBTC, in an attempt to close the USD solvency gap between what Gox had in its bank with what it owed to its clients. Thanks for this thoughtful post. I'd wondered about it too and never bought the USD recovery idea either. However, how does your explanation account for the huge volumes on Gox? If Gox was making .6% commission they made almost 180K coins their last month of operation according to bitcoin charts. How are you calculating such a number? Even assuming the "most favorable conditions", its just 6000. That being, 1 million exchanged * 0.006 = 6000 Really though, assume maybe a 0.004 fee average, due to tiered fee rates, and of course that is 4000. In the 3 months before, They got about 2.3m volume. So another 9200. Assume 50% fee fiat -> BTC, all at $136: Another 50,000BTC. However, we know this didnt happen(they didnt acquire 50kBTC @ 136). So, could we say.. in the last 4 months, they covered 65000/744000 of liabilities, assuming $136 exchange rate? Otherwise... if we go by the BitStamp exchange rate, then they acquired 12,500 "real BTC" in fiat fees, and another 14,000 in BTC fees. Total in 4 months: 26,500 / 744,000 = 3.56% -- Now, honestly, thats not too bad. But, even assuming just a 20% increase in BTC value per year, over the 10 years that it would take them to pay out "BTC:BTC", the BTC liabilities value in USD would average out to have quintupled. What would be interesting is a real timeline of liabilities. I'm curious what the financial state of Mtgox was before this "hack" in early February. Were we still on a sinking ship or was Mtgox solvent? |
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Thanks for the clarification about bankruptcy.
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My condolences to everyone who lost money on Mtgox. But I'm still curious as to why the price went from $1000 to $100. For those of you who sold in that range, what was your reasoning for doing that?
This is the one piece of the puzzle that took me the longest to come up with a logical explanation for. After MtGox disabled BTC withdrawals, I expected the premium over BitStamp to disappear PLUS a bit more to reflect the fact that limited fiat withdrawals in yen and euros were still possible. But if I had fiat on Gox, I would have deployed all of it when the price premium was 20-30% below BitStamp. I simply don't buy the "it's easier to sue in USD" to explain the price dropping under $100! My explanation for the dumping down below $100 follows from my theory (see links below) that Gox had been running a fractional reserve in bitcoin since 500,000 - 1,000,000 BTC were stollen in 2011: https://bitcointalk.org/index.php?topic=488058.msg5397869#msg5397869https://bitcointalk.org/index.php?topic=492393.msg5438572#msg5438572The theory states that Gox was using client fiat funds to purchase bitcoins from other exchanges and individuals in order to keep up with bitcoin withdrawals. Prior to disabling bitcoin withdrawals, they had, say, $150,000,000 in client funds sitting in USD IOUs but only $30,000,000 in actual cash. If this fact was revealed during bankruptcy, it would have been clear-cut fraud and Mark would be doing jail time: how could you explain $120,000,000 in missing cash?? So, when Mark knew it was over, he began selling fractional reserve GoxBTC from multiple alias accounts (to make it look like real customers were selling). He drove the price so low, that most people converted their USD funds into GoxBTC. He kept driving the price lower and lower hoping that enough people would convert into GoxBTC so that he could rebalance the USD funds owed to customers with what was actually in the Gox corporate bank account. He drove the price so low that people actually wired additional funds to Gox further reducing his USD solvency gap. But it looks like it wasn't enough. I think the bankruptcy filling declares $50,000,000 in fiat liabilities and $30,000,000 in cash. But my point is that if he had gone bankrupt prior to dumping all those bitcoins (that didn't really exist), the fiat deposits owed to real customers would have looked ridiculous and screamed "fraud." In conclusion, the price was driven low by Mark dumping GoxBTC to entice GoxUSD holders to transfer from USD into GoxBTC, in an attempt to close the USD solvency gap between what Gox had in its bank with what it owed to its clients. I think we just need to wait and see. Subpoenas will be very interesting. |
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