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6swnSyrFtojiUdMLzftugfNLeFuUbL2QS7
thanks
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I would buy right now if there was a super duper easy way to buy bitcoins for the average joe. There's still tons of issues with bitcoin that need to be worked out before it can even think about going "mainstream" - and right now no one has provided a solution for those issues.
Right now everything is pure speculation and media hype. Things haven't changed all that drastically from 2011 yet all of a sudden it's worth over $100.
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I don't really trust it.. I don't really get why it went up so high in the first place. Though I haven't had much to do with bitcoin since 2011. I didn't lose anything in that crash either.
I thought $20 was fine and pretty high considering. Unless I see it resume steady slow growth I'm not really going to invest. Keyword being invest. I will still purchase things here and there with bitcoin but I'm still holding dollars for now until stabilization occurs.
However, I think it is still bullish and has been for years. If it stops jerking all over the place I'll throw some money back in for long term holdings.
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the botnet has been spreading since before it went down to $2
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my price is around $0.50 or so. Maybe lower.
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that wall will go ahead and disappear anyway.
Or just be moved to $1 or below.
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It's feeling more like it's going to go all the way down to $0.10. Bitcoin continues to exceed my expectations for drops, so I don't see why not. So I wouldn't buy until it's at least below $1 - maybe even wait longer.
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seems like botnets to me.
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$1 does seem to throw off "buy" signals for me. Especially since it means all bitcoins combined are only worth $7million, but I tend to think the system is worth a bit more than that.
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hmm maybe ICE is going to start seizing all bitcoin gambling sites. Doesn't really seem right though since in some countries internet gambling is legal.
Maybe the sites just need to make an effort to verify people using it aren't from the US?
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May I suggest an alternate outcome?
Miners keep mining at the current rate. They keep selling at a current rate. Prices keep dropping at current rate until difficulty starts to drop, and we get the exact inverse of the spiral up.
Deepbit supports this as a possibility, current hash rate is 5000 gigahash -- less than 10% off all time highs. 80% of the hashing power has been added since June, so most of the current bitcoin miners are "late adopters." Late adopters have little vested interest in hoarding bitcoins and making early adopters rich, so a good portion of them sell what they mine. MtGox had 500,000 coins back during the first hack, 700k coins were moved around the latest fear of hacks. It's reasonable to believe another 200k coins have made their way to the market in the last 6 weeks.
200/500 = 40% more float. Definitely more supply.
Now, on the demand side we've seen silkroad becoming much more low key, google trends shrinking, media attention waning and a general decrease in the number of potential new suckers. At the same time we've got prices on a steady, recognizable and undeniable downtrend.
At the moment it'd take ONE MILLION NEW DOLLARS a month to keep prices at $5 if nothing else happened and miners sold what they made to pay for hardware and power. I'll let that sink in a bit. ONE MILLION NEW DOLLARS. Luckily, many miners are content to be bagholders for now, and it takes far less than that to keep prices stable. However, those coins are mined, available, and still a bit of a liability.
TL;DR -- keep waiting. Oh, and if you can, please deposit more money. I'd like to get more than five bucks a coin for mine.
One Million Dollars you say? http://www.youtube.com/watch?v=-DJtHL3NV1o |
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To get a "acceptable" stale rate at 15s/block you pretty much need a local poold w/ longpolling + cgminer. (at 15 s/block and with poclbm+friends 5s askrate and no LP, you're looking at something like 20% stales)
That would explain things. Have the Bitcoin devs fixed the timewarp (sorry for lack of a better description, that's the only word I could think of) issue and what's there to stop someone from doing it right now? Or is there still a bit of muscle required to overcome the existing 10-12TH/s on the network? Bitcoin doesn't adjust based on time - it adjusts based on block rates, so this problem never existed. |
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I'm waiting for the block reward to drop to 12.5.
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you have to change the source, compile, then start mining.
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He wants to make sure mtgox isn't doing any fractional reserve banking.
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since you are so pained then similarly you must be convicted. conviction should then mean you would be willing to put your money where your mouth is.
i bet you 100 BTC or $670 to be held in escrow that the USD denominated price of BTC will be higher 1 yr from now than it is today. how about it?
I've seen a lot of people trying to make these bets but no one taking them. |
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True, could just be the manipulator.
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might be a bit premature yet. We'll see where it goes..
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Would be nice to see prices at $1 or so.
$2 is probably a bit high.
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